U S Physical Therapy (USPH) FY2020 results: revenue $423 million, down 12.2% on the year
U S Physical Therapy Inc. (USPH) reported revenue of $423 million for fiscal 2020, the year ended 31 December 2020, down 12.2% on the year before. Net income was $35 million, down 12.1%, and diluted earnings per share $2.48. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$423 million
-12.2% on the year
FY2013FY2020
Operating margin
12.4%
14.0% a year earlier
FY2013FY2020
Net income
$35 million
-12.1% on the year
FY2013FY2020
Diluted EPS
$2.48
+1.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
423
482
454
-12.2%
Gross profit
94.5
112
102
-16.0%
Gross margin
22.3%
23.3%
22.4%
Selling, general and administrative
42.0
45.0
41.3
-6.7%
Operating income
52.4
67.4
60.3
-22.3%
Operating margin
12.4%
14.0%
13.3%
Interest expense
n/a
2.1
2.0
Pre-tax income
65.5
70.9
60.2
-7.6%
Income tax
13.0
13.6
11.4
-4.6%
Effective tax rate
19.9%
19.2%
18.9%
Net income
35.2
40.0
34.9
-12.1%
Net margin
8.3%
8.3%
7.7%
Diluted EPS
$2.48
$2.45
$1.31
+1.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
100.0
62.4
73.0
+60.1%
Capital expenditure
7.6
10.2
7.2
-25.0%
Free cash flow
92.4
52.3
65.8
+76.7%
Free cash flow margin
21.8%
10.8%
14.5%
Cash from investing
-51.2
-38.0
-23.9
Cash from financing
-39.4
-24.3
-47.7
Depreciation and amortisation
10.5
10.1
9.8
+4.3%
Share-based compensation
7.9
7.0
5.9
+13.3%
Dividends paid
4.1
14.6
11.7
-71.8%
Dividend per share
$0.32
$1.14
$0.92
-71.9%
Diluted shares, weighted
13m
13m
n/a
+0.6%
Shares outstanding at period end
n/a
n/a
13m
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
276
240
216
+14.9%
Non-controlling interest
1.5
1.4
0.9
+1.8%
Redeemable equity
132
138
134
-3.9%
Debt
21.5
51.1
39.8
-57.9%
Operating lease liabilities
62.0
60.3
0.0
+2.9%
Other liabilities
101
140
52.5
-27.8%
Total liabilities and equity
594
631
443
-5.7%
Fixed assets
21.7
22.1
20.2
-1.9%
Goodwill
346
318
294
+8.8%
Intangible assets
56.3
52.6
48.8
+7.0%
Cash and equivalents
32.9
23.5
23.4
+39.8%
Receivables
41.9
46.2
44.8
-9.3%
Other assets
95.9
168
12.5
-43.0%
Total assets
594
631
443
-5.7%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.