U S Physical Therapy (USPH) FY2024 results: revenue $671 million, up 11.0% on the year
U S Physical Therapy Inc. (USPH) reported revenue of $671 million for fiscal 2024, the year ended 31 December 2024, up 11.0% on the year before. Net income was $31 million, up 11.3%, and diluted earnings per share $1.84. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2025.
Revenue
$671 million
+11.0% on the year
FY2017FY2024
Operating margin
9.4%
8.4% a year earlier
FY2017FY2024
Net income
$31 million
+11.3% on the year
FY2017FY2024
Diluted EPS
$1.84
+43.8% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
74.9
82.0
58.5
-8.6%
Capital expenditure
9.2
9.3
8.2
-1.2%
Free cash flow
65.8
72.7
50.3
-9.5%
Free cash flow margin
9.8%
12.0%
9.1%
Cash from investing
-149
-45.0
-81.3
Cash from financing
-37.0
84.3
25.8
Depreciation and amortisation
18.7
15.7
14.7
+19.0%
Share-based compensation
7.8
7.2
7.3
+8.1%
Buybacks
0.0
0.0
n/a
Dividends paid
26.5
24.1
21.3
+10.0%
Dividend per share
$1.76
$1.72
$1.64
+2.3%
Diluted shares, weighted
15m
14m
13m
+6.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
489
476
316
+2.7%
Non-controlling interest
1.1
1.2
1.3
-10.2%
Redeemable equity
269
175
168
+53.9%
Debt
154
147
184
+4.7%
Operating lease liabilities
102
76.7
77.9
+32.9%
Other liabilities
153
122
112
+25.8%
Total liabilities and equity
1,167
997
858
+17.1%
Fixed assets
32.1
26.1
24.7
+23.1%
Goodwill
667
510
494
+30.9%
Intangible assets
179
110
109
+63.5%
Cash and equivalents
41.4
153
31.6
-72.9%
Receivables
59.0
51.9
51.9
+13.8%
Other assets
188
147
147
+28.0%
Total assets
1,167
997
858
+17.1%
10-K for the year ended 31 December 2024, filed 3 March 2025: the filing.