U.S. Physical Therapy, Inc.

U.S. Physical Therapy, Inc. reported net revenue of $781.0 million for fiscal year 2025, generating gross profit of $149.7 million and operating income of $86.7 million. Net income attributable to USPH shareholders was $39.6 million, with basic and diluted earnings per share of $1.00. The company generated $75.1 million in operating cash flow but experienced a net decrease in cash of $5.8 million due to investing and financing activities. Key performance drivers included Medicare revenue of approximately $213.5 million, representing a significant portion of total revenue, and continued operations through two reportable segments: physical therapy operations and industrial injury prevention services. The company declared dividends of $2.00 per common share.

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