U.S. Physical Therapy Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	780.99	671.35	604.8	553.14	495.02
Revenue Growth (YoY)	16.33%	11.00%	9.34%	11.74%	17.04%
Cost of Revenue	631.3	547.42	483.29	441.12	377.84
Gross Profit	149.69	123.92	121.51	112.02	117.18
Selling, General & Admin	69.26	58.29	51.95	46.11	46.53
Other Operating Expenses	6.51	6.55	16.12	9.18	-
Total Operating Expenses	75.77	64.84	68.07	55.3	46.53
Operating Income	86.68	62.99	50.51	56.8	70.65
Interest Income	1.58	4.96	4.73	1.18	0.11
Interest Expense	-9.46	-8.02	-9.3	-5.78	-0.94
Other Non-Operating Income (Expense)	-0.99	0.28	3.44	3.37	3.38
Total Non-Operating Income (Expense)	-8.86	-2.79	-1.14	-1.23	2.55
Pretax Income	77.81	60.21	49.38	55.57	73.2
Provision for Income Taxes	19.81	14.61	12.16	12.16	15.27
Net Income	39.58	31.42	28.24	32.16	40.83
Minority Interest in Earnings	18.42	14.18	8.98	11.25	17.09
Net Income to Common	39.58	31.42	28.24	32.16	40.83
Net Income Growth	25.96%	11.28%	-12.19%	-21.24%	16.02%
Shares Outstanding (Basic)	15	15	14	13	13
Shares Outstanding (Diluted)	15	15	14	13	13
Shares Change (YoY)	0.74%	6.17%	9.26%	0.68%	0.49%
EPS (Basic)	1.42	1.84	1.28	2.25	2.41
EPS (Diluted)	1.42	1.84	1.28	2.25	2.41
EPS Growth	-22.83%	43.75%	-43.11%	-6.64%	-2.82%
Free Cash Flow	60.99	65.75	72.68	50.29	68.21
Free Cash Flow Growth	-7.25%	-9.53%	44.53%	-26.27%	-26.15%
Free Cash Flow Per Share	4.02	4.36	5.12	3.87	5.29
Dividends Per Share	1.800	1.760	1.720	1.640	1.460
Dividend Growth	2.27%	2.33%	4.88%	12.33%	356.25%
Gross Margin	19.17%	18.46%	20.09%	20.25%	23.67%
Operating Margin	11.10%	9.38%	8.35%	10.27%	14.27%
Profit Margin	7.43%	6.79%	6.15%	7.85%	11.70%
FCF Margin	7.81%	9.79%	12.02%	9.09%	13.78%
EBITDA	109.49	82.1	66.63	71.85	82.3
EBITDA Margin	14.02%	12.23%	11.02%	12.99%	16.62%
EBIT	86.68	62.99	50.51	56.8	70.65
EBIT Margin	11.10%	9.38%	8.35%	10.27%	14.27%
Effective Tax Rate	25.46%	24.26%	24.62%	21.89%	20.86%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q