U.S. Physical Therapy, Inc. (USPH) Earnings History
Earnings Pressure35 years of earnings data (1991–2025) · 5-year EPS trend is negative
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U.S. Physical Therapy, Inc. (USPH) Earnings Overview
As of September 23, 2026, U.S. Physical Therapy, Inc. (USPH) reported trailing twelve-month net income of $2M, reflecting -22.8% year-over-year growth. The company earned $0.15 per diluted share over the past four quarters, with a net profit margin of 1.9%.
Looking at the long-term picture, USPH's 5-year EPS compound annual growth rate (CAGR) stands at -19.1%, signaling declining earnings. The company achieved its highest annual net income of $31M in fiscal 2020.
U.S. Physical Therapy, Inc. maintains positive profitability with a gross margin of 20.1%, operating margin of 10.3%, and net margin of 1.9%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including AFCG ($5M net income, -66.0% margin), CCRN (-$99M net income, -9.0% margin), NHC ($140M net income, 7.9% margin), USPH has outperformed on profitability metrics. Compare USPH vs AFCG →
USPH Earnings vs Peers
Earnings metrics vs comparable public companies
USPH Historical Earnings Data (1991–2025)
35 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $15M | -43.1% | $80M | $1.42 | 1.9% | 10.3% |
| 2024 | $26M | +80.3% | $63M | $1.84 | 3.9% | 9.4% |
| 2023 | $15M | -48.1% | $52M | $1.28 | 2.4% | 8.6% |
| 2022 | $28M | +1.6% | $57M | $3.34 | 5.1% | 10.3% |
| 2021 | $28M | -9.0% | $71M | $4.49 | 5.6% | 14.3% |
| 2020 | $31M | +8.6% | $52M | $4.09 | 7.2% | 12.4% |
| 2019 | $28M | +178.6% | $67M | $4.49 | 5.8% | 14.0% |
| 2018 | $10M | -54.6% | $60M | $0.80 | 2.2% | 13.3% |
| 2017 | $22M | +8.3% | $55M | $1.76 | 5.4% | 13.2% |
| 2016 | $21M | -7.8% | $50M | $1.64 | 5.8% | 13.9% |
| 2015 | $22M | +12.7% | $47M | $1.77 | 6.7% | 14.3% |
| 2014 | $20M | +55.4% | $46M | $1.62 | 6.5% | 15.0% |
| 2013 | $13M | -29.1% | $39M | $1.05 | 4.8% | 14.7% |
| 2012 | $18M | -14.5% | $38M | $1.51 | 7.1% | 15.0% |
| 2011 | $21M | +34.1% | $36M | $1.75 | 8.8% | 15.2% |
| 2010 | $16M | +33.0% | $33M | $1.32 | 7.4% | 15.7% |
| 2009 | $12M | +17.6% | $28M | $1.00 | 5.8% | 14.1% |
| 2008 | $10M | +12.5% | $24M | $0.83 | 5.3% | 12.7% |
| 2007 | $9M | +41.2% | $20M | $0.75 | 5.9% | 13.2% |
| 2006 | $6M | -28.4% | $19M | $0.54 | 4.7% | 13.8% |
| 2005 | $9M | +31.6% | $19M | $0.73 | 6.7% | 14.3% |
| 2004 | $7M | -8.9% | $16M | $0.54 | 5.6% | 13.5% |
| 2003 | $7M | -13.6% | $17M | $0.61 | 6.9% | 16.1% |
| 2002 | $8M | +20.0% | $19M | $0.67 | 9.0% | 19.9% |
| 2001 | $7M | +89.3% | $17M | $0.55 | 8.7% | 20.9% |
| 2000 | $4M | +56.0% | $10M | $0.11 | 5.9% | 16.4% |
| 1999 | $2M | +49.6% | $7M | $0.11 | 4.8% | 14.6% |
| 1998 | $2M | -33.3% | $6M | $0.05 | 3.6% | 12.5% |
| 1997 | $2M | +50.0% | $5M | $0.07 | 6.2% | 12.4% |
| 1996 | $2M | +128.6% | $4M | $0.05 | 5.0% | 11.2% |
| 1995 | $700,000 | +125.0% | $2M | $0.02 | 2.8% | 6.4% |
| 1994 | -$3M | -27.3% | -$2M | $-0.27 | -16.3% | -10.5% |
| 1993 | -$2M | -83.3% | -$2M | $-0.22 | -26.2% | -22.6% |
| 1992 | -$1M | -500.0% | -$1M | $-0.12 | -50.0% | -50.0% |
| 1991 | $-200,000 | - | $-300,000 | $-0.02 | -33.3% | -50.0% |
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USPH — Frequently Asked Questions
Quick answers to the most common questions about buying USPH stock.
What is USPH earnings per share (EPS)?
USPH trailing twelve-month (TTM) diluted EPS is $0.15, reflecting -22.8% year-over-year growth. The 5-year EPS CAGR is -19.1%. Complete EPS history from 1991 to 2025 is available in the table on this page.
What is U.S. Physical Therapy, Inc.'s net income?
U.S. Physical Therapy, Inc. (USPH) trailing twelve-month net income is $2M as of 2025. Earnings declined -22.8% year-over-year. U.S. Physical Therapy, Inc. has been profitable for 31 consecutive years.
Is USPH profitable?
Yes, USPH is profitable with a TTM net income of $2M and a net profit margin of +1.9%. U.S. Physical Therapy, Inc. has generated profits for 31 consecutive years.
What is USPH's earnings growth rate?
USPH compound annual EPS growth rates (CAGR): 1-Year: -22.8%, 3-Year: -24.8%, 5-Year: -19.1%, 10-Year: -2.2%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1991 to 2025.
What are USPH's profit margins?
U.S. Physical Therapy, Inc. net profit margin is +1.9%, operating margin is +10.3%, and gross margin is +20.1%. Below-average margins reflect competitive or cost pressures. Return on Equity is +2.0%.
Is USPH growing earnings?
USPH earnings are declining — EPS fell -22.8% year-over-year. TTM net income dropped to $2M. This contrasts with the 5-year CAGR of -19.1%.
What was USPH's best earnings year?
U.S. Physical Therapy, Inc.'s highest annual net income on record is $31M, achieved in fiscal year 2020. Earnings history on this page spans 1991 to 2025 and includes all annual and quarterly figures.
What were USPH's earnings last quarter?
USPH's most recent reported quarter was Q2 2026. Net income was $10M with diluted EPS of $0.25. For a full breakdown of all quarters, see the quarterly earnings table on this page.