U S PHYSICAL THERAPY INC /NV
USPH · Services-Health Services · 15.2M shares · +3%/yr ↑ shares · EDGAR filings ↗
Reference price $61.50 · est. market cap ~$936M — last insider purchase, 2026-06-09 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B76U.S. Physical Therapy — leading outpatient PT operator with strong margins.
Strengths
- Operating margin 11% (93rd pct), net margin (87th), strong OCF (87th)
- Durable, fragmented-market roll-up
Risks
- Reimbursement and labor-cost exposure
- Partner/JV minority structure
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
19.2%
Operating margin
11.1%
Net margin
5.1%
Return on equity
8.3%
Return on assets
3.3%
ROIC
10.9%
Revenue growth (QoQ)
-2.2%
Net-income growth
26.0%
Debt / equity
0.3×
Net debt / EBITDA
1.1×
Current ratio
1.0×
EBITDA
$109M
Tangible book value
-$389M
Cash & investments
$36M
Stock comp / revenue
1.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-09 | Minan Peter Francis | Buy | 288 | $61.50 |
| 2026-06-08 | Minan Peter Francis | Buy | 492 | $63.14 |
| 2026-05-20 | REEVE GRAHAM D. | Tax withheld | 762 | $62.24 |
| 2026-05-20 | CURTIS JASON TRAVIS | Tax withheld | 40 | $62.24 |
| 2026-05-19 | Harris Bernard A Jr | Grant | 2.3K | — |
| 2026-05-19 | Gilmartin Kathleen A | Grant | 2.3K | — |
| 2026-05-19 | Motsenbocker Anne | Grant | 2.3K | $61.61 |
| 2026-05-19 | Swanson Regg E. | Grant | 2.3K | $61.61 |
| 2026-05-19 | Minan Peter Francis | Grant | 2.3K | $61.61 |
| 2026-05-19 | Harris Bernard A Jr | Grant | 2.3K | $61.61 |
| 2026-05-19 | Gilmartin Kathleen A | Grant | 2.3K | $61.61 |
| 2026-05-19 | Swanson Regg E. | Grant | 2.3K | — |
| 2026-05-19 | Motsenbocker Anne | Grant | 2.3K | — |
| 2026-05-19 | Minan Peter Francis | Grant | 2.3K | — |
| 2026-03-11 | REEVE GRAHAM D. | Sell | 662 | $78.86 |
| 2026-03-09 | HENDRICKSON CAREY P | Disposition | 10K | — |
| 2026-03-09 | REEVE GRAHAM D. | Sell | 1 | $78.52 |
| 2026-03-06 | Binstein Richard | Sell | 3.0K | $81.64 |
| 2026-03-06 | REEVE GRAHAM D. | Sell | 1.8K | $82.25 |
| 2026-02-23 | HENDRICKSON CAREY P | Grant | 10K | — |
| 2026-02-23 | READING CHRISTOPHER J | Grant | 25K | — |
| 2026-02-23 | Williams Eric Joseph | Grant | 15K | — |
| 2026-02-23 | REEVE GRAHAM D. | Grant | 10K | — |
| 2026-02-23 | Binstein Richard | Grant | 10K | — |
| 2025-11-24 | REEVE GRAHAM D. | Sell | 743 | $71.01 |
| 2025-11-20 | Gilmartin Kathleen A | Buy | 4.0K | $69.00 |
| 2025-09-11 | HAM NANCY | Sell | 600 | $81.71 |
| 2025-09-05 | Williams Eric Joseph | Sell | 1.0K | $85.25 |
| 2025-09-04 | READING CHRISTOPHER J | Sell | 2.0K | $83.53 |
| 2025-08-25 | HENDRICKSON CAREY P | Sell | 698 | $86.11 |
| 2025-08-21 | REEVE GRAHAM D. | Sell | 763 | $84.97 |
| 2025-08-19 | Binstein Richard | Disposition | 2.0K | $84.79 |
| 2025-08-11 | REEVE GRAHAM D. | Sell | 1.8K | $86.57 |
| 2025-06-12 | HAM NANCY | Sell | 400 | $78.01 |
| 2025-05-21 | REEVE GRAHAM D. | Sell | 530 | $78.08 |
| 2025-05-21 | Williams Eric Joseph | Sell | 633 | $78.09 |
| 2025-05-20 | Harris Bernard A Jr | Grant | 1.9K | — |
| 2025-05-20 | Swanson Regg E. | Grant | 1.9K | — |
| 2025-05-20 | Trier Clayton | Grant | 1.9K | — |
| 2025-05-20 | HAM NANCY | Grant | 1.9K | — |
| 2025-05-20 | Motsenbocker Anne | Grant | 1.9K | — |
| 2025-05-20 | Gilmartin Kathleen A | Grant | 1.9K | — |
| 2025-03-11 | HENDRICKSON CAREY P | Gift | 63 | — |
| 2025-03-07 | REEVE GRAHAM D. | Sell | 1.7K | $82.11 |
| 2025-02-24 | Binstein Richard | Grant | 8.1K | — |
| 2025-02-24 | Williams Eric Joseph | Grant | 12K | — |
| 2025-02-24 | READING CHRISTOPHER J | Grant | 20K | — |
| 2025-02-24 | REEVE GRAHAM D. | Grant | 8.1K | — |
| 2025-02-24 | HENDRICKSON CAREY P | Grant | 8.1K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (2)
- Medicaid
- Medicare
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-19 | Shareholder vote | filing ↗ |
| 2026-05-11 | Reg FDExhibits | filing ↗ |
| 2026-05-06 | ResultsOtherExhibits | filing ↗ |
| 2026-04-15 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-03-13 | Exec/director changeExhibits | filing ↗ |
| 2026-03-09 | Reg FDExhibits | filing ↗ |
| 2026-03-03 | Reg FDExhibits | filing ↗ |
| 2026-02-26 | Exec/director changeReg FDOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-19 | 2026-05-19 | 0000885978-26-000027 ↗ |
| 8-K | 2026-05-11 | 2026-05-07 | 0000885978-26-000024 ↗ |
| 10-Q | 2026-05-08 | 2026-03-31 | 0001140361-26-020025 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0000885978-26-000019 ↗ |
| 8-K | 2026-04-15 | 2026-04-14 | 0000885978-26-000017 ↗ |
| 8-K | 2026-03-13 | 2026-03-09 | 0000885978-26-000014 ↗ |
| 8-K | 2026-03-09 | 2026-03-06 | 0000885978-26-000011 ↗ |
| 8-K | 2026-03-03 | 2026-02-26 | 0000885978-26-000009 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001140361-26-007170 ↗ |
| 8-K | 2026-02-26 | 2026-02-25 | 0001140361-26-006882 ↗ |
| 8-K | 2026-02-04 | 2026-02-02 | 0000885978-26-000006 ↗ |
| 8-K | 2026-01-07 | 2026-01-05 | 0000885978-26-000003 ↗ |