U S Physical Therapy (USPH) Operating Expenses (2010 - 2026)
U S Physical Therapy (USPH) posted Operating Expenses of $165.5 million for Q1 2026, up 1.81% sequentially from $162.6 million in Q4 2025, and up 8.39% YoY from $152.7 million in Q1 2025.
U S Physical Therapy (USPH) Operating Expenses (2010 - 2026) Analysis & Trends
U S Physical Therapy (USPH) has 17 years of Operating Expenses data on file, last reported at $165.5 million in Q1 2026.
- Quarterly Operating Expenses rose 8.39% year-over-year to $165.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $644.1 million (up 12.43% YoY) and the FY2025 annual result came in at $631.3 million, up 15.32% from the prior year.
- Operating Expenses advanced to $165.5 million in Q1 2026 per USPH's latest filing, from $162.6 million in the prior quarter.
- The five-year high for Operating Expenses was $165.5 million in Q1 2026, with the low at $105.1 million in Q1 2022.
- Average Operating Expenses over 5 years is $133.5 million, with a median of $127.3 million recorded in 2024.
- Year-over-year, Operating Expenses rose 21.56% in 2022 and gained 8.18% in 2024.
- U S Physical Therapy's Operating Expenses stood at $113.4 million in 2022, then increased by 9.65% to $124.3 million in 2023, then rose by 19.02% to $147.9 million in 2024, then gained by 9.92% to $162.6 million in 2025, then rose by 1.81% to $165.5 million in 2026.
- Business Quant data shows USPH's Operating Expenses at $165.5 million in Q1 2026, $162.6 million in Q4 2025, and $160.3 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 87.94 Bn | 90.32 Bn | 16.26 Bn | 16.82 Bn |
| 2 | Chemed | 18.08 Bn | 18.07 Bn | 215.76 Mn | 572.94 Mn |
| 3 | Tenet Healthcare | 16.59 Bn | 15.76 Bn | 4.41 Bn | 27.00 Mn |
| 4 | Davita | 15.37 Bn | 16.23 Bn | 1.07 Bn | 2.93 Bn |
| 5 | Encompass Health | 10.07 Bn | 10.70 Bn | 1.34 Bn | 1.29 Bn |
| 6 | Ensign | 9.52 Bn | 8.93 Bn | 293.37 Mn | 1.26 Bn |
| 7 | Universal Health Services | 9.19 Bn | 9.15 Bn | 3.21 Bn | 3.99 Bn |
| 8 | Pacs | 6.96 Bn | 6.72 Bn | 345.96 Mn | 1.30 Bn |
| 9 | Ww International | 6.14 Bn | 5.98 Bn | -149.29 Mn | -25.79 Mn |
| 10 | U S Physical Therapy | 1.08 Bn | 1.37 Bn | 32.75 Mn | 165.53 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 165.53 Mn |
| Dec 31, 2025 | 162.59 Mn |
| Sep 30, 2025 | 160.26 Mn |
| Jun 30, 2025 | 155.72 Mn |
| Mar 31, 2025 | 152.72 Mn |
| Dec 31, 2024 | 147.92 Mn |
| Sep 30, 2024 | 138.90 Mn |
| Jun 30, 2024 | 133.33 Mn |
| Mar 31, 2024 | 127.27 Mn |
| Dec 31, 2023 | 124.29 Mn |
| Sep 30, 2023 | 122.08 Mn |
| Jun 30, 2023 | 119.28 Mn |
| Mar 31, 2023 | 117.65 Mn |
| Dec 31, 2022 | 113.35 Mn |
| Sep 30, 2022 | 112.82 Mn |
| Jun 30, 2022 | 109.84 Mn |
| Mar 31, 2022 | 105.12 Mn |
| Dec 31, 2021 | 102.65 Mn |
| Sep 30, 2021 | 96.09 Mn |
| Jun 30, 2021 | 92.62 Mn |