U S Physical Therapy (USPH) FY2014 results: revenue $305 million, up 15.5% on the year
U S Physical Therapy Inc. (USPH) reported revenue of $305 million for fiscal 2014, the year ended 31 December 2014, up 15.5% on the year before. Net income was $19 million, up 50.4%, and diluted earnings per share $1.57. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2015.
Revenue
$305 million
+15.5% on the year
FY2009FY2014
Operating margin
15.0%
14.7% a year earlier
FY2009FY2014
Net income
$19 million
+50.4% on the year
FY2009FY2014
Diluted EPS
$1.57
+49.5% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
305
264
250
+15.5%
Gross profit
76.2
64.7
62.9
+17.7%
Gross margin
25.0%
24.5%
25.2%
Selling, general and administrative
30.4
25.9
n/a
+17.2%
Operating income
45.8
38.8
38.4
+18.1%
Operating margin
15.0%
14.7%
15.4%
Interest expense
7.5
0.5
0.6
+1,285.5%
Pre-tax income
38.3
38.2
37.9
+0.2%
Income tax
13.0
12.2
11.2
+6.4%
Effective tax rate
34.0%
32.0%
29.6%
Net income
19.1
12.7
17.9
+50.4%
Net margin
6.3%
4.8%
7.2%
Diluted EPS
$1.57
$1.05
$1.51
+49.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
45.2
44.8
39.2
+0.9%
Capital expenditure
5.2
4.6
4.2
+11.4%
Free cash flow
40.0
40.2
35.0
-0.3%
Free cash flow margin
13.1%
15.2%
14.0%
Cash from investing
-22.9
-52.4
-14.1
Cash from financing
-20.9
8.9
-23.5
Depreciation and amortisation
6.7
5.6
5.3
+21.2%
Share-based compensation
3.4
2.7
2.1
+22.6%
Dividends paid
5.9
4.8
9.0
+21.4%
Dividend per share
$0.48
$0.40
$0.76
+20.0%
Diluted shares, weighted
12m
12m
12m
+1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
146
128
117
+14.0%
Non-controlling interest
20.9
22.7
17.3
-7.9%
Redeemable equity
7.4
4.1
n/a
+79.7%
Debt
35.6
41.5
18.0
-14.1%
Other liabilities
34.3
27.5
19.0
+24.7%
Total liabilities and equity
245
224
172
+9.1%
Fixed assets
15.8
15.0
13.0
+5.4%
Goodwill
172
144
100
+19.3%
Intangible assets
24.9
14.5
12.1
+72.0%
Cash and equivalents
14.3
12.9
11.7
+10.6%
Receivables
32.9
n/a
n/a
Other assets
n/a
37.8
34.7
Total assets
245
224
172
+9.1%
10-K for the year ended 31 December 2014, filed 12 March 2015: the filing.