Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $357M | $414M | $454M | $482M | $423M | $495M | $553M | $605M | $671M | $781M |
| Revenue growth | — | 16.1% | 9.6% | 6.2% | -12.2% | 17.0% | 11.7% | 9.3% | 11.0% | 16.3% |
| Gross profit | $82.0M | $90.6M | $102M | $112M | $94.5M | $117M | $112M | $122M | $124M | $150M |
| Gross margin | 23.0% | 21.9% | 22.4% | 23.3% | 22.3% | 23.7% | 20.3% | 20.1% | 18.5% | 19.2% |
| Operating income | $49.5M | $54.7M | $60.3M | $67.4M | $52.4M | $70.6M | $56.8M | $50.5M | $63.0M | $86.7M |
| Operating margin | 13.9% | 13.2% | 13.3% | 14.0% | 12.4% | 14.3% | 10.3% | 8.4% | 9.4% | 11.1% |
| Net income | $20.6M | $22.3M | $34.9M | $40.0M | $35.2M | $40.8M | $32.2M | $28.2M | $31.4M | $39.6M |
| Net margin | 5.8% | 5.4% | 7.7% | 8.3% | 8.3% | 8.2% | 5.8% | 4.7% | 4.7% | 5.1% |
| EPS (diluted) | $1.64 | $1.76 | $1.31 | $2.45 | $2.48 | $2.41 | $2.25 | $1.28 | $1.84 | $1.42 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $51.0M | $56.5M | $73.0M | $62.4M | $100.0M | $76.4M | $58.5M | $82.0M | $74.9M | $75.1M |
| Capital expenditures | $8.26M | $7.09M | $7.19M | $10.2M | $7.64M | $8.20M | $8.25M | $9.29M | $9.19M | $14.1M |
| Free cash flow | $42.8M | $49.4M | $65.8M | $52.3M | $92.4M | $68.2M | $50.3M | $72.7M | $65.8M | $61.0M |
| Share buybacks | — | — | — | — | — | — | — | $0.00 | $0.00 | $5.57M |
| Dividends paid | $8.51M | $10.1M | $11.7M | $14.6M | $4.11M | $18.8M | $21.3M | $24.1M | $26.5M | $27.4M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $20.0M | $21.9M | $23.4M | $23.5M | $32.9M | $28.6M | $31.6M | $153M | $41.4M | $35.6M |
| Total assets | $351M | $419M | $443M | $631M | $594M | $749M | $858M | $997M | $1.17B | $1.20B |
| Total liabilities | $163M | $110M | $92.3M | $181M | $184M | $297M | $374M | $345M | $408M | $434M |
| Long-term debt | $50.6M | $56.7M | $38.4M | $50.4M | $16.6M | $118M | $176M | $139M | $143M | $153M |
| Shareholders' equity | $188M | $205M | $216M | $240M | $276M | $296M | $316M | $476M | $489M | $476M |
| Retained earnings | $150M | $162M | $167M | $184M | $212M | $224M | $233M | $224M | $227M | $227M |
| Shares (wtd avg diluted) | 12.5M | 12.6M | 12.7M | 12.8M | 12.8M | 12.9M | 13.0M | 14.2M | 15.1M | 15.2M |
Every figure is extracted from U S PHYSICAL THERAPY INC /NV’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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