U S Physical Therapy annual gross margin
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U S Physical Therapy Gross Margin Growth & History (USPH)
U S Physical Therapy's gross margin was 19.17% for fiscal 2025.
View full U S Physical Therapy company overviewU S Physical Therapy annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 19.17% | +0.71 pp |
| 2024 | 2024-12-31 | 18.46% | −1.63 pp |
| 2023 | 2023-12-31 | 20.09% | −0.16 pp |
| 2022 | 2022-12-31 | 20.25% | −3.42 pp |
| 2021 | 2021-12-31 | 23.67% | +1.34 pp |
| 2020 | 2020-12-31 | 22.33% | −1.01 pp |
| 2019 | 2019-12-31 | 23.34% | +0.94 pp |
| 2018 | 2018-12-31 | 22.40% | +0.51 pp |
| 2017 | 2017-12-31 | 21.89% | −1.12 pp |
| 2016 | 2016-12-31 | 23.00% | −0.65 pp |
| 2015 | 2015-12-31 | 23.65% | −1.31 pp |
| 2014 | 2014-12-31 | 24.97% | +0.46 pp |
| 2013 | 2013-12-31 | 24.50% | −0.70 pp |
| 2012 | 2012-12-31 | 25.20% | +1.07 pp |
| 2011 | 2011-12-31 | 24.13% | −2.39 pp |
| 2010 | 2010-12-31 | 26.52% | — |
U S Physical Therapy quarterly gross margin
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| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 19.59% | −1.50 pp |
| Q1 2026 | 2026-03-31 | 16.52% | −0.39 pp |
| Q4 2025 | 2025-12-31 | 19.80% | +1.77 pp |
| Q3 2025 | 2025-09-30 | 18.70% | +1.37 pp |
| Q2 2025 | 2025-06-30 | 21.09% | +0.84 pp |
| Q1 2025 | 2025-03-31 | 16.90% | −1.34 pp |
| Q4 2024 | 2024-12-31 | 18.03% | −1.69 pp |
| Q3 2024 | 2024-09-30 | 17.34% | −1.28 pp |
| Q2 2024 | 2024-06-30 | 20.25% | −1.01 pp |
| Q1 2024 | 2024-03-31 | 18.24% | −2.53 pp |
| Q4 2023 | 2023-12-31 | 19.71% | +0.00 pp |
| Q3 2023 | 2023-09-30 | 18.62% | −0.57 pp |
| Q2 2023 | 2023-06-30 | 21.26% | −0.65 pp |
| Q1 2023 | 2023-03-31 | 20.78% | +0.59 pp |
| Q4 2022 | 2022-12-31 | 19.71% | −1.22 pp |
| Q3 2022 | 2022-09-30 | 19.19% | −4.48 pp |
| Q2 2022 | 2022-06-30 | 21.91% | −5.11 pp |
| Q1 2022 | 2022-03-31 | 20.19% | −2.86 pp |
| Q4 2021 | 2021-12-31 | 20.94% | −3.85 pp |
| Q3 2021 | 2021-09-30 | 23.67% | −4.20 pp |
| Q2 2021 | 2021-06-30 | 27.03% | +4.03 pp |
| Q1 2021 | 2021-03-31 | 23.05% | +9.13 pp |
| Q4 2020 | 2020-12-31 | 24.79% | +2.71 pp |
| Q3 2020 | 2020-09-30 | 27.87% | +4.52 pp |
| Q2 2020 | 2020-06-30 | 23.00% | −1.87 pp |
| Q1 2020 | 2020-03-31 | 13.92% | −9.07 pp |
| Q4 2019 | 2019-12-31 | 22.08% | +0.59 pp |
| Q3 2019 | 2019-09-30 | 23.34% | +0.29 pp |
| Q2 2019 | 2019-06-30 | 24.87% | +1.27 pp |
| Q1 2019 | 2019-03-31 | 22.99% | +1.56 pp |
| Q4 2018 | 2018-12-31 | 21.49% | −0.62 pp |
| Q3 2018 | 2018-09-30 | 23.05% | +2.48 pp |
| Q2 2018 | 2018-06-30 | 23.59% | +0.06 pp |
| Q1 2018 | 2018-03-31 | 21.43% | +0.16 pp |
| Q4 2017 | 2017-12-31 | 22.11% | +1.43 pp |
| Q3 2017 | 2017-09-30 | 20.57% | −1.69 pp |
| Q2 2017 | 2017-06-30 | 23.53% | −1.97 pp |
| Q1 2017 | 2017-03-31 | 21.26% | −2.32 pp |
| Q4 2016 | 2016-12-31 | 20.68% | −4.11 pp |
| Q3 2016 | 2016-09-30 | 22.26% | −0.19 pp |
| Q2 2016 | 2016-06-30 | 25.50% | +0.12 pp |
| Q1 2016 | 2016-03-31 | 23.58% | +1.78 pp |
| Q4 2015 | 2015-12-31 | 24.80% | +0.94 pp |
| Q3 2015 | 2015-09-30 | 22.45% | −1.67 pp |
| Q2 2015 | 2015-06-30 | 25.38% | −2.54 pp |
| Q1 2015 | 2015-03-31 | 21.80% | −2.05 pp |
| Q4 2014 | 2014-12-31 | 23.86% | +0.33 pp |
| Q3 2014 | 2014-09-30 | 24.12% | −0.38 pp |
| Q2 2014 | 2014-06-30 | 27.92% | +1.62 pp |
| Q1 2014 | 2014-03-31 | 23.86% | +0.20 pp |
| Q4 2013 | 2013-12-31 | 23.52% | +0.02 pp |
| Q3 2013 | 2013-09-30 | 24.50% | −0.37 pp |
| Q2 2013 | 2013-06-30 | 26.30% | −0.27 pp |
| Q1 2013 | 2013-03-31 | 23.66% | −2.12 pp |
| Q4 2012 | 2012-12-31 | 23.51% | +0.39 pp |
| Q3 2012 | 2012-09-30 | 24.87% | −3.32 pp |
| Q2 2012 | 2012-06-30 | 26.57% | — |
| Q1 2012 | 2012-03-31 | 25.78% | — |
| Q3 2011 | 2011-09-30 | 23.12% | — |
| Q2 2011 | 2011-06-30 | 28.19% | — |
U S Physical Therapy gross margin trends
Over the last five reported fiscal years, U S Physical Therapy's gross margin decreased from 22.33% to 19.17%, a change of −3.16 percentage points. The latest reported quarter, Q2 2026, shows 19.59%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review U S Physical Therapy filings at SEC.gov ↗