U S Physical Therapy (USPH) FY2023 results: revenue $605 million, up 9.3% on the year
U S Physical Therapy Inc. (USPH) reported revenue of $605 million for fiscal 2023, the year ended 31 December 2023, up 9.3% on the year before. Net income was $28 million, down 12.2%, and diluted earnings per share $1.28. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$605 million
+9.3% on the year
FY2016FY2023
Operating margin
8.4%
10.3% a year earlier
FY2016FY2023
Net income
$28 million
-12.2% on the year
FY2016FY2023
Diluted EPS
$1.28
-43.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
82.0
58.5
76.4
+40.0%
Capital expenditure
9.3
8.2
8.2
+12.7%
Free cash flow
72.7
50.3
68.2
+44.5%
Free cash flow margin
12.0%
9.1%
13.8%
Cash from investing
-45.0
-81.3
-124
Cash from financing
84.3
25.8
43.4
+227.1%
Depreciation and amortisation
15.7
14.7
11.6
+6.5%
Share-based compensation
7.2
7.3
7.9
-0.4%
Buybacks
0.0
n/a
n/a
Dividends paid
24.1
21.3
18.8
+13.2%
Dividend per share
$1.72
$1.64
$1.46
+4.9%
Diluted shares, weighted
14m
13m
13m
+9.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
476
316
296
+50.8%
Non-controlling interest
1.2
1.3
1.6
-3.5%
Redeemable equity
175
168
155
+4.4%
Debt
147
184
118
-20.1%
Operating lease liabilities
76.7
77.9
74.2
-1.6%
Other liabilities
122
112
104
+8.7%
Total liabilities and equity
997
858
749
+16.2%
Fixed assets
26.1
24.7
23.0
+5.5%
Goodwill
510
494
435
+3.1%
Intangible assets
110
109
86.4
+0.9%
Cash and equivalents
153
31.6
28.6
+383.7%
Receivables
51.9
51.9
46.3
-0.1%
Other assets
147
147
131
+0.1%
Total assets
997
858
749
+16.2%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.