U S Physical Therapy (USPH) Operating Margin (2010 - 2026)
U S Physical Therapy (USPH) posted Operating Margin of 6.29% for Q1 2026, down 23.9% sequentially from 8.27% in Q4 2025, and down 439.0% YoY from 1.86% in Q1 2025.
U S Physical Therapy (USPH) Operating Margin (2010 - 2026) Analysis & Trends
U S Physical Therapy has reported Operating Margin for 17 years, with the latest figure at 6.29% in Q1 2026.
- Quarterly Operating Margin fell 439.0% year-over-year to 6.29% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 10.0% (up 32.0% YoY) and the FY2025 annual result came in at 11.1%, up 172.0% from the prior year.
- Operating Margin slipped to 6.29% in Q1 2026 per USPH's latest filing, from 8.27% in the prior quarter.
- Over five years, Operating Margin peaked at 14.28% in Q2 2022 and troughed at 1.57% in Q4 2023.
- A 5-year average of 9.59% and a median of 10.67% in 2022 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2024: Operating Margin sank 787 bps in 2022, then soared 1246 bps in 2024.
- Over 5 years, Operating Margin stood at 4.81% in 2022, then tumbled by 133 bps to 1.57% in 2023, then jumped by 794 bps to 10.89% in 2024, then dropped by 24 bps to 8.27% in 2025, then dropped by 24 bps to 6.29% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 6.29%, 8.27%, and 12.85% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 88.19 Bn | 90.61 Bn | 15.19 Bn | -12.60% |
| 2 | Tenet Healthcare | 21.59 Bn | 21.56 Bn | 4.45 Bn | 26.67% |
| 3 | Encompass Health | 12.19 Bn | 12.86 Bn | 1.34 Bn | 2.10% |
| 4 | Davita | 11.52 Bn | 12.39 Bn | 1.16 Bn | 16.29% |
| 5 | Ensign | 10.59 Bn | 10.27 Bn | 306.24 Mn | 8.50% |
| 6 | Universal Health Services | 8.79 Bn | 8.72 Bn | 3.29 Bn | 11.14% |
| 7 | Pacs | 7.04 Bn | 6.88 Bn | 338.46 Mn | 7.66% |
| 8 | Chemed | 6.96 Bn | 6.92 Bn | 221.47 Mn | 13.25% |
| 9 | Concentra Group Holdings Parent | 4.52 Bn | 4.38 Bn | 192.10 Mn | 18.99% |
| 10 | U S Physical Therapy | 1.21 Bn | 1.50 Bn | 41.94 Mn | 10.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 10.25% |
| Mar 31, 2026 | 6.29% |
| Dec 31, 2025 | 8.27% |
| Sep 30, 2025 | 12.85% |
| Jun 30, 2025 | 12.64% |
| Mar 31, 2025 | 10.69% |
| Dec 31, 2024 | 10.89% |
| Sep 30, 2024 | 7.65% |
| Jun 30, 2024 | 9.31% |
| Mar 31, 2024 | 9.59% |
| Dec 31, 2023 | -1.57% |
| Sep 30, 2023 | 10.59% |
| Jun 30, 2023 | 13.24% |
| Mar 31, 2023 | 11.45% |
| Dec 31, 2022 | 4.81% |
| Sep 30, 2022 | 10.67% |
| Jun 30, 2022 | 14.28% |
| Mar 31, 2022 | 11.41% |
| Dec 31, 2021 | 12.68% |
| Sep 30, 2021 | 13.45% |