U.S. Physical Therapy (USPH) Revenue & Revenue Breakdown

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U.S. Physical Therapy Revenue Highlights

Latest Revenue (Y)

$560.55M

Latest Revenue (Q)

$164.18M

Main Segment (Y)

Net Patient Revenues

U.S. Physical Therapy Revenue by Period

U.S. Physical Therapy Revenue by Year

Date	Revenue	Change
2024-12-31	$560.55M	-7.32%
2023-12-31	$604.80M	9.34%
2022-12-31	$553.14M	11.74%
2021-12-31	$495.02M	17.04%
2020-12-31	$422.97M	-12.24%
2019-12-31	$481.97M	6.18%
2018-12-31	$453.91M	9.63%
2017-12-31	$414.05M	16.13%
2016-12-31	$356.55M	7.62%
2015-12-31	$331.30M	8.60%
2014-12-31	$305.07M	15.53%
2013-12-31	$264.06M	4.75%
2012-12-31	$252.09M	6.36%
2011-12-31	$237.01M	12.20%
2010-12-31	$211.23M	4.88%
2009-12-31	$201.41M	7.31%
2008-12-31	$187.69M	23.73%
2007-12-31	$151.69M	12.20%
2006-12-31	$135.19M	2.33%
2005-12-31	$132.12M	11.68%
2004-12-31	$118.31M	12.07%
2003-12-31	$105.57M	11.43%
2002-12-31	$94.74M	17.04%
2001-12-31	$80.95M	28.04%
2000-12-31	$63.22M	26.61%
1999-12-31	$49.94M	13.49%
1998-12-31	$44.00M	13.40%
1997-12-31	$38.80M	20.50%
1996-12-31	$32.20M	29.32%
1995-12-31	$24.90M	44.77%
1994-12-31	$17.20M	104.76%
1993-12-31	$8.40M	-

U.S. Physical Therapy generated $560.55M in revenue during NA 2024, up -7.32% compared to the previous quarter, and up 116.30% compared to the same period a year ago.

U.S. Physical Therapy Revenue by Quarter

Date	Revenue	Change
2025-06-30	$164.18M	7.63%
2025-03-31	$152.55M	-15.46%
2024-12-31	$180.45M	7.39%
2024-09-30	$168.03M	0.50%
2024-06-30	$167.19M	7.40%
2024-03-31	$155.68M	0.56%
2023-12-31	$154.80M	3.20%
2023-09-30	$150.01M	-0.98%
2023-06-30	$151.49M	2.00%
2023-03-31	$148.51M	5.19%
2022-12-31	$141.18M	1.13%
2022-09-30	$139.60M	-0.75%
2022-06-30	$140.66M	6.80%
2022-03-31	$131.70M	1.44%
2021-12-31	$129.83M	3.13%
2021-09-30	$125.89M	-0.82%
2021-06-30	$126.93M	12.96%
2021-03-31	$112.37M	-4.34%
2020-12-31	$117.47M	7.84%
2020-09-30	$108.93M	29.90%
2020-06-30	$83.86M	-25.60%
2020-03-31	$112.72M	-7.70%
2019-12-31	$122.11M	4.15%
2019-09-30	$117.25M	-7.22%
2019-06-30	$126.37M	8.73%
2019-03-31	$116.23M	-0.95%
2018-12-31	$117.35M	3.74%
2018-09-30	$113.12M	-1.72%
2018-06-30	$115.10M	6.24%
2018-03-31	$108.34M	-0.79%
2017-12-31	$109.20M	5.99%
2017-09-30	$103.03M	-1.17%
2017-06-30	$104.25M	6.85%
2017-03-31	$97.56M	7.37%
2016-12-31	$90.86M	2.85%
2016-09-30	$88.34M	-2.31%
2016-06-30	$90.43M	4.05%
2016-03-31	$86.91M	0.21%
2015-12-31	$86.72M	3.18%
2015-09-30	$84.05M	0.91%
2015-06-30	$83.29M	7.83%
2015-03-31	$77.24M	-2.71%
2014-12-31	$79.39M	2.15%
2014-09-30	$77.72M	-0.62%
2014-06-30	$78.20M	12.09%
2014-03-31	$69.77M	1.69%
2013-12-31	$68.61M	4.22%
2013-09-30	$65.83M	-2.08%
2013-06-30	$67.22M	6.54%
2013-03-31	$63.10M	0.64%
2012-12-31	$62.69M	-0.25%
2012-09-30	$62.85M	-1.73%
2012-06-30	$63.96M	2.20%
2012-03-31	$62.58M	3.14%
2011-12-31	$60.68M	1.68%
2011-09-30	$59.67M	-0.40%
2011-06-30	$59.91M	5.59%
2011-03-31	$56.74M	6.40%
2010-12-31	$53.33M	-0.13%
2010-09-30	$53.40M	-1.30%
2010-06-30	$54.10M	7.34%
2010-03-31	$50.41M	-0.02%
2009-12-31	$50.42M	-1.22%
2009-09-30	$51.04M	-1.45%
2009-06-30	$51.79M	7.51%
2009-03-31	$48.17M	0.74%
2008-12-31	$47.81M	1.23%
2008-09-30	$47.23M	-0.33%
2008-06-30	$47.39M	4.72%
2008-03-31	$45.25M	2.48%
2007-12-31	$44.15M	-

U.S. Physical Therapy generated $164.18M in revenue during Q2 2025, up 7.63% compared to the previous quarter, and up 105.47% compared to the same period a year ago.

U.S. Physical Therapy Revenue Breakdown

U.S. Physical Therapy Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Net Patient Revenues	$560.55M	$514.56M	$464.59M	$438.33M	$373.34M
Other Revenues Including Management Contract Revenues and Industrial Injury Prevention Services Revenues	$110.79M	$90.25M	-	-	-
Physical Therapy Operations	-	-	$468.00M	$441.27M	$383.77M
Other Revenues	-	-	$3.41M	$2.94M	$2.02M
Management Contract Revenues	-	-	$8.10M	$9.85M	$8.41M

U.S. Physical Therapy's latest annual revenue breakdown by segment (product or service), as of Dec 24: Net Patient Revenues (83.50%), and Other Revenues Including Management Contract Revenues and Industrial Injury Prevention Services Revenues (16.50%).

Quarterly Revenue by Product

Product/Service	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20
Other Revenues Including Management Contract Revenues and Industrial Injury Prevention Services Revenues	$33.16M	$31.24M	$30.39M	$28.89M	$26.92M	$24.60M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Patient Revenues	$164.18M	$152.55M	$150.06M	$139.15M	$140.27M	$131.07M	$258.69M	$129.28M	$126.58M	$120.15M	$116.71M	$118.20M	$109.54M	$113.51M	$112.33M	$113.24M	$99.25M	$104.54M	$96.40M	$72.28M
Other Revenues	-	-	-	-	-	-	-	$792.00K	$799.00K	$884.00K	$753.00K	$898.00K	$872.00K	$717.00K	$759.00K	$918.00K	$546.00K	$613.00K	$512.00K	$328.00K
Physical Therapy Operations	-	-	-	-	-	-	-	$130.07M	$127.38M	$121.03M	$117.46M	$119.09M	$110.41M	$114.23M	$113.09M	$116.89M	$102.36M	$107.82M	$98.91M	$74.20M
Management Contract Revenues	-	-	-	-	-	-	-	$2.17M	$1.78M	$1.76M	$1.98M	$2.13M	$2.23M	$2.24M	$2.31M	$2.74M	$2.56M	$2.67M	$2.00M	$1.59M

U.S. Physical Therapy's latest quarterly revenue breakdown by segment (product or service), as of Jun 25: Net Patient Revenues (83.20%), and Other Revenues Including Management Contract Revenues and Industrial Injury Prevention Services Revenues (16.80%).

U.S. Physical Therapy Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
HCA	HCA Healthcare	$70.60B	$18.61B
THC	Tenet Healthcare	$20.66B	$5.27B
UHS	Universal Health Services	$15.83B	$4.28B
DVA	DaVita	$12.82B	$3.38B
AGL	Agilon Health	$6.06B	$1.39B
EHC	Encompass Health	$5.37B	$1.46B
SEM	Select Medical	$5.19B	$1.34B
ENSG	Ensign Group	$4.26B	$1.23B
ACHC	Acadia Healthcare	$3.15B	$869.23M
SGRY	Surgery Partners	$3.11B	$826.20M
HCSG	Healthcare Services Group	$1.72B	$458.49M
ADUS	Addus HomeCare	$1.15B	$349.44M
EHAB	Enhabit	$1.03B	$266.10M
INNV	InnovAge	$853.70M	$209.00M
PNTG	Pennant Group	$695.24M	$209.84M
USPH	U.S. Physical Therapy	$560.55M	$164.18M

USPH Revenue FAQ

What is U.S. Physical Therapy’s yearly revenue?

U.S. Physical Therapy's yearly revenue for 2024 was $560.55M, representing a decrease of -7.32% compared to 2023. The company's yearly revenue for 2023 was $604.8M, representing an increase of 9.34% compared to 2022. USPH's yearly revenue for 2022 was $553.14M, representing an increase of 11.74% compared to 2021.

What is U.S. Physical Therapy’s quarterly revenue?

U.S. Physical Therapy's quarterly revenue for Q2 2025 was $164.18M, a 7.63% increase from the previous quarter (Q1 2025), and a -1.80% decrease year-over-year (Q2 2024). The company's quarterly revenue for Q1 2025 was $152.55M, a -15.46% decrease from the previous quarter (Q4 2024), and a -2.01% decrease year-over-year (Q1 2024). USPH's quarterly revenue for Q4 2024 was $180.45M, a 7.39% increase from the previous quarter (Q3 2024), and a 16.57% increase year-over-year (Q4 2023).

What is U.S. Physical Therapy’s revenue growth rate?

U.S. Physical Therapy's revenue growth rate for the last 3 years (2022-2024) was 1.34%, and for the last 5 years (2020-2024) was 32.53%.

What are U.S. Physical Therapy’s revenue streams?

U.S. Physical Therapy's revenue streams in c 24 are Net Patient Revenues, and Other Revenues Including Management Contract Revenues and Industrial Injury Prevention Services Revenues. Net Patient Revenues generated $560.55M in revenue, accounting 83.50% of the company's total revenue, up 8.94% year-over-year. Other Revenues Including Management Contract Revenues and Industrial Injury Prevention Services Revenues generated $110.79M in revenue, accounting 16.50% of the company's total revenue, up 22.77% year-over-year.

What is U.S. Physical Therapy’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of U.S. Physical Therapy was Net Patient Revenues. This segment made a revenue of $560.55M, representing 83.50% of the company's total revenue.