U S Physical Therapy Inc balance sheet

At the end of fiscal 2025, U S Physical Therapy Inc had total assets of $1.20bn, total liabilities of $434m and shareholders' equity of $476m. It held $35.6m in cash against $162m of debt: net debt of $127m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

U S Physical Therapy Inc: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	—	9	10	12	13	14	16	20	22	23	24	33	29	32	153	41	36	25
Receivables	—	—	—	2	2	33	36	39	45	45	46	42	46	52	52	59	64	70
Total current assets	—	39	46	45	50	55	60	66	77	79	85	88	95	111	233	138	140	140
Goodwill	—	79	93	100	144	172	195	227	271	294	318	346	435	494	510	667	692	717
Total assets	—	141	163	172	224	245	304	351	419	443	631	594	749	858	997	1,167	1,204	1,249
Deferred revenue (current)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1	1
Total current liabilities	—	14	16	16	23	26	19	25	40	42	61	93	83	85	102	116	139	110
Short-term debt	—	0	0	0	1	1	1	1	4	1	1	5	1	8	8	11	10	5
Long-term debt	—	0	24	18	41	35	48	51	57	38	50	17	118	176	139	143	153	215
Total debt	0	6	24	18	41	36	49	52	61	40	51	21	118	184	147	154	162	220
Total liabilities	—	24	42	37	69	70	131	163	110	92	181	184	297	374	345	408	434	482
Shareholders' equity	92	104	107	117	128	146	171	188	205	216	240	276	296	316	476	489	476	449
Non-controlling interests and other (assets − liabilities − equity)	—	12	15	17	27	28	—	—	104	135	209	134	157	169	176	270	294	318
Net debt (negative = net cash)	—	−3	14	6	29	21	33	32	39	16	28	−11	90	152	−6	112	127	195
Shares outstanding	—	—	—	—	—	—	—	—	13m	13m	—	—	—	—	—	—	—	—

US$ millions unless shown otherwise. Fiscal quarters.

U S Physical Therapy Inc: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	57	59	65	66	68	64	69	70
Total current assets	205	138	145	141	138	140	139	140
Goodwill	555	667	674	678	690	692	716	717
Total assets	1,029	1,167	1,180	1,180	1,196	1,204	1,242	1,249
Deferred revenue (current)	—	—	—	—	—	1	1	1
Total current liabilities	115	116	124	119	115	139	117	110
Short-term debt	10	11	9	8	9	10	11	5
Long-term debt	133	143	157	152	151	153	194	215
Total debt	143	154	166	160	160	162	205	220
Total liabilities	358	408	421	414	414	434	459	482
Shareholders' equity	483	489	497	501	504	476	469	449
Non-controlling interests and other (assets − liabilities − equity)	188	270	262	265	279	294	314	318

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: CRVL vs USPH INNV vs USPH PNTG vs USPH STLN vs USPH

More: Health Care Services stocks compared, Health Care sector, rankings of US companies

Figures from U S Physical Therapy Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to U S Physical Therapy Inc.