USPH - NYSE
U.S. Physical Therapy, Inc.
$61.87
-1.0%U.S. Physical Therapy, Inc., through its subsidiaries, operates outpatient physical therapy clinics that provide pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries. It operates through two segments, Physical Therapy Operations and Industrial Injury Prevention Services. The company offers industrial injury prevention services, including onsite injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments through physical therapists and specialized certified athletic trainers for Fortune 500 companies, and other clients comprising insurers and their contractors. As of December 31, 2021, it operated 591 clinics in 39 states; and managed 35 physical therapy practice facilities. The company was founded in 1990 and is based in Houston, Texas.
At a Glance
Live SnapshotU.S. Physical Therapy, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Declining FCF warrants attention. Investigate whether due to temporary factors or fundamental deterioration.
Working Capital Impact
Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
U.S. Physical Therapy, Inc. Cash Flow Statement
USPH • NYSE
| U.S. Physical Therapy, Inc. Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||||||||||
58M | 45.6M | 37.2M | 43.4M | 57.9M | 52.5M | 57.3M | 48.8M | 27.7M | 26.3M | 31.7M | 30.4M | 21M | 26.2M | 29.8M | 24.7M | 20M | 10M | 8.7M | 6.3M | |
22.4M | 18.7M | 15.7M | 14.7M | 11.6M | 10.5M | 10.1M | 9.8M | 9.7M | 8.8M | 8M | 6.7M | 5.6M | 5.3M | 5.4M | 5.7M | 5.9M | 6M | 5M | 4.5M | |
11.4M | 5.4M | 4.5M | 4.3M | 5.7M | -258K | 4.7M | 4.8M | -4.6M | 3M | 7M | 6.3M | 2.4M | 3.7M | 3.8M | 452K | 714K | 1.9M | 313K | -373K | |
8.3M | 7.8M | 7.2M | 7.3M | 7.9M | 7.9M | 7M | 5.9M | 5M | 5M | 4.5M | 3.4M | 2.7M | 2.1M | 2M | 1.3M | 1.6M | 1.6M | 1.3M | 1M | |
2.2M | 9.9M | 22.3M | 10.2M | 5.1M | 5.7M | -560K | 2.9M | 4.3M | 4.2M | 3.5M | 3.3M | 11M | 6.4M | -1.2M | 2.2M | 2.9M | 9.9M | 7.8M | 8.2M | |
(0.0) | (4.8M) | (4.9M) | (7.6M) | (12.2M) | (7.7M) | (9.9M) | (9.2M) | (8.5M) | (10.6M) | (7.8M) | (9.3M) | (4.1M) | (6.4M) | (9M) | (7.8M) | (8.4M) | (4.4M) | (0.0) | (0.0) | |
-27.2M | -12.4M | -4.9M | -21.4M | -11.8M | 23.6M | -16M | 732K | 14.3M | 3.9M | -13.4M | -4.9M | 2.1M | -4.5M | -7.2M | -3.7M | -148K | 772K | -4.1M | -1.1M | |
75.1M | 74.9M | 82M | 58.5M | 76.4M | 100M | 62.4M | 73M | 56.5M | 51.1M | 41.2M | 45.2M | 44.8M | 39.2M | 32.7M | 30.5M | 30.9M | 30.2M | 19M | 18.5M | |
INVESTING ACTIVITIES | ||||||||||||||||||||
-14.1M | -9.2M | -9.3M | -8.2M | -8.2M | -7.6M | -10.2M | -7.2M | -7.1M | -8.3M | -6.3M | -5.2M | -4.6M | -4.2M | -3.2M | -3.7M | -3.9M | -4.3M | -4M | -4.7M | |
(0.0) | -142M | -36.9M | -74.3M | -116.1M | -43.6M | -27.9M | -16.4M | -36.6M | -24.3M | -26M | -17.8M | -48.5M | -10.2M | -9.5M | -17.3M | -1.2M | -20.7M | -20M | -5.2M | |
(0.0) | (0.0) | (0.0) | -373K | (0.0) | (0.0) | -11.6M | (0.0) | (0.0) | (0.0) | (0.0) | -5.5M | -1.9M | (0.0) | (0.0) | -682K | -2.3M | (0.0) | -2M | -700K | |
0.0 | 0.0 | 0.0 | 373K | 0.0 | 0.0 | 11.6M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 233K | 0.0 | 0.0 | 18M | 0.0 | 0.0 | 2.5M | 2.9M | |
-22.6M | 1.8M | 1.2M | 1.3M | 152K | 0.0 | 64K | -349K | 81K | 61K | 71K | 5.5M | 2.3M | 303K | -18.9M | -18M | 57K | 108K | 21K | -1.1M | |
-36.7M | -149.5M | -45M | -81.3M | -124.1M | -51.2M | -38M | -23.9M | -43.6M | -32.5M | -32.2M | -22.9M | -52.4M | -14.1M | -31.6M | -21.6M | -7.3M | -24.9M | -23.5M | -8.8M | |
FINANCING ACTIVITIES | ||||||||||||||||||||
-5.6M | 0.0 | 163.6M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -4.7M | -1.4M | -5.6M | 495K | 568K | -5.4M | |
8.1M | 4.3M | -39.2M | 64.2M | 93.1M | -31M | 6.6M | -20M | 6.8M | 1.2M | 8.6M | -6.3M | 22.1M | -6.5M | 17.8M | 4.1M | -12.4M | 3.5M | 6.4M | -245K | |
-27.4M | -26.5M | -24.1M | -21.3M | -18.8M | -4.1M | -14.6M | -11.7M | -10.1M | -8.5M | -7.4M | -5.9M | -4.8M | -9M | -3.8M | -9.6M | -9.4M | (0.0) | (0.0) | (0.0) | |
-5.6M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (502K) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | -4.7M | -1.4M | -5.6M | (0.0) | (0.0) | -5.5M | |
-19.3M | -14.7M | -16.1M | -17.1M | -31M | -4.3M | -16.3M | -16M | -7.8M | -7M | -4.9M | -8.7M | -8.4M | -7.9M | -9.6M | -8.8M | 101K | 128K | -5.5M | -5.4M | |
-44.1M | -37M | 84.3M | 25.8M | 43.4M | -39.4M | -24.3M | -47.7M | -11.1M | -14.3M | -7.5M | -20.9M | 8.9M | -23.5M | -245K | -6.1M | -27.3M | -3.2M | 1.5M | -11M | |
CASH FLOW SUMMARY | ||||||||||||||||||||
-5.8M | -111.5M | 121.2M | 3M | -4.4M | 9.4M | 180K | 1.4M | 1.9M | 4.3M | 1.5M | 1.4M | 1.2M | 1.7M | 804K | 2.8M | -3.7M | 2.1M | -3M | -1.4M | |
41.4M | 152.8M | 31.6M | 28.6M | 32.9M | 23.5M | 23.4M | 21.9M | 20M | 15.8M | 14.3M | 12.9M | 11.7M | 10M | 9.2M | 6.4M | 10.1M | 8M | 11M | 12.4M | |
35.6M | 41.4M | 152.8M | 31.6M | 28.6M | 32.9M | 23.5M | 23.4M | 21.9M | 20M | 15.8M | 14.3M | 12.9M | 11.7M | 10M | 9.2M | 6.4M | 10.1M | 8M | 11M | |
61M | 65.8M | 72.7M | 50.3M | 68.2M | 92.4M | 52.3M | 65.8M | 49.4M | 42.8M | 35M | 40M | 40.2M | 35M | 29.4M | 26.8M | 27.1M | 25.9M | 15M | 13.8M |
SEC Filings
USPH - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 19, 2026 | May 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 11, 2026 | May 07, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | May 08, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 06, 2026 | May 06, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 16, 2026 | May 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 15, 2026 | April 14, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 13, 2026 | March 09, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 09, 2026 | March 06, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 03, 2026 | February 26, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 27, 2026 | December 31, 2025 | 2025 |
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