U S Physical Therapy (USPH) FY2017 results: revenue $414 million, up 16.1% on the year
U S Physical Therapy Inc. (USPH) reported revenue of $414 million for fiscal 2017, the year ended 31 December 2017, up 16.1% on the year before. Net income was $22 million, up 8.3%, and diluted earnings per share $1.76. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2019.
Revenue
$414 million
+16.1% on the year
FY2010FY2017
Operating margin
13.2%
13.9% a year earlier
FY2010FY2017
Net income
$22 million
+8.3% on the year
FY2010FY2017
Diluted EPS
$1.76
+7.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
414
357
331
+16.1%
Gross profit
90.6
82.0
78.4
+10.5%
Gross margin
21.9%
23.0%
23.7%
Selling, general and administrative
35.9
32.5
31.1
+10.5%
Operating income
54.7
49.5
47.3
+10.5%
Operating margin
13.2%
13.9%
14.3%
Interest expense
21.1
11.5
7.2
+83.5%
Pre-tax income
33.8
38.1
40.1
-11.5%
Income tax
6.0
11.9
13.6
-49.2%
Effective tax rate
17.9%
31.1%
34.0%
Net income
22.3
20.6
20.6
+8.3%
Net margin
5.4%
5.8%
6.2%
Diluted EPS
$1.76
$1.64
$1.77
+7.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
56.5
51.0
37.5
+10.7%
Capital expenditure
7.1
8.3
6.3
-14.1%
Free cash flow
49.4
42.8
31.3
+15.5%
Free cash flow margin
11.9%
12.0%
9.4%
Cash from investing
-43.6
-32.5
-26.1
Cash from financing
-11.1
-14.3
-9.9
Depreciation and amortisation
9.7
8.8
8.0
+10.6%
Share-based compensation
5.0
5.0
4.5
+1.4%
Dividends paid
10.1
8.5
7.4
+18.3%
Dividend per share
$0.80
$0.68
$0.60
+17.6%
Diluted shares, weighted
n/a
12m
12m
Shares outstanding at period end
13m
n/a
n/a
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
205
188
171
+9.2%
Non-controlling interest
1.2
1.1
1.3
+5.6%
Redeemable equity
103
0.0
0.0
Debt
60.8
51.8
49.1
+17.3%
Other liabilities
49.6
111
82.3
-55.2%
Total liabilities and equity
419
351
304
+19.3%
Fixed assets
20.4
19.2
16.7
+6.3%
Goodwill
271
227
195
+19.6%
Intangible assets
49.0
38.1
30.3
+28.6%
Cash and equivalents
21.9
20.0
15.8
+9.4%
Receivables
44.7
38.8
36.2
+15.1%
Other assets
11.7
8.3
9.4
+40.5%
Total assets
419
351
304
+19.3%
10-K for the year ended 31 December 2017, filed 18 March 2019: the filing.