USPH at a glance
U S PHYSICAL THERAPY INC /NV (USPH, SEC CIK 885978) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 7, 2026, an 8-K current report on September 28, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), U S PHYSICAL THERAPY INC /NV (USPH) reported revenue of $781.0 million (up 16.3% from FY2024) and net income of $39.6 million. Diluted EPS was $1.42.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding U S PHYSICAL THERAPY INC /NV (USPH) shares worth $480.0 million in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by Minan Peter Francis on September 11, 2026 of 5 shares at $79.00 per share.
- In the last 90 days, USPH insiders reported 1 open-market purchase ($416.33) and 0 open-market sales ($0) on Form 4, a net purchase of $416.33.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $781.0M
- +16.3% vs prior year
- Insiders · 90 days
- 1 buy · 0 sells
- Net +$416.33
- 13F holders
- 31 funds
- $480.0M · +0 vs prior quarter
- Latest 8-K
- Sep 28, 2026
- Item 2.03 · Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: outpatient physical therapy clinics and industrial injury prevention services
- Emphasis on AI integration with focus on operational support and risk management of emerging technologies
- Strategic focus on growth via acquisitions despite associated integration and liability risks
- Reserved 315,221 shares for future equity grants as of December 31, 2025, potential dilution risk highlighted
- Noteworthy risks include potential clinic closures, client contract terminations, and regulatory challenges with AI use
Risk Factors
- Regulatory risk from cybersecurity laws with Compliance Committee oversight and Diligent Cyber Risk Certification for Board members
- Operational risk from evolving cybersecurity threats managed by CISO with 25+ years of experience, using external consultants for remediation
- Governance risk with regular CISO reporting to CFO, President, CEO, Compliance Committee, and full Board to maintain enterprise-wide cybersecurity oversight
Management Discussion & Analysis
- Total net revenue $781.0M, up 16.3% YoY (+$109.6M); physical therapy operations revenue $666.6M, up 16.0% YoY (+$92.2M)
- Operating margin increased to 11.1% in 2025 from 9.4% in 2024; gross profit margin 19.2% vs 18.5% YoY
- Best segment: Industrial Injury Prevention (IIP) revenue up 18.0% to $114.4M with 18.9% gross margin; worst: Clinic closures impact with 23 closures in 2025 vs 45 in 2024
- Share repurchases $5.6M (81,322 shares) in Q4 2025; dividend raised to $0.46/share quarterly in 2026; capex details not specified
- 2026 outlook includes Medicare reimbursement increase of ~1.75%; new 10-year hospital alliances expected to boost revenue, operating income, margins
AI summary of the USPH 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $214.1M, up 8.5% YoY from $197.3M
- Gross profit margin 19.6% vs 21.1% YoY, with gross profit $41.9M vs $41.6M
- Physical Therapy gross profit $35.5M, down from $35.7M; margin 19.5% vs 21.2%
- Share repurchases $19.2M for 306,256 shares; quarterly dividend $0.46 per share
- Headwinds: reimbursement changes, qualified-therapist availability, staffing, inflation, and economic uncertainty
AI summary of the USPH 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.03: Creation of a Direct Financial Obligation
- Interest-rate swap executed with Bank of America under the April 26, 2022 ISDA Master Agreement
- Swap transaction confirmation dated September 22, 2026, indicating new derivative exposure
Item 1.01: Entry into a Material Definitive Agreement
- $170.6 million forward-starting swap fixes term-debt interest exposure beginning June 30, 2027
- 4.578% fixed rate exchanged for one-month SOFR, reducing future floating-rate uncertainty
Item EX-99.1: Item EX-99.1
- Myra Davis appointed director effective October 1, 2026, adding healthcare technology and digital transformation expertise
- Davis brings more than two decades of CIO-level healthcare leadership from Texas Children’s Hospital
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Myra Davis appointed director effective October 1, 2026, expanding healthcare technology expertise on the Board
- More than two decades of CIO-level healthcare leadership, including Texas Children’s Hospital since 2003
Item 8.01: Other Events
- Appointment of Mr. Etta announced August 14, 2026
- Leadership change potentially relevant to company strategy and execution
Item EX-99.1: Item EX-99.1
- Nchacha Etta appointed Executive Vice President and CFO effective September 1, 2026
- Interim CFO Jason Curtis returns to Senior Vice President, Finance and Accounting
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Executive employment agreement sets $625,000 annual base salary, plus discretionary performance bonuses
- Initial common-stock grant valued approximately $550,000, vesting quarterly over four years
Item 1.01: Entry into a Material Definitive Agreement
- Appointment of new Executive Vice President and CFO, strengthening permanent finance leadership
- New CFO brings 25+ years across healthcare, technology, consumer products and private equity
AI summaries of USPH 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for USPH
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Davis Myra | A | Oct 1, 2026 | 1,210 | - |
| Etta Nchacha | A | Sep 14, 2026 | 6,831 | - |
| Minan Peter Francis | Buy | Sep 11, 2026 | 5.27 | $79.00 |
| REEVE GRAHAM D. | F | Aug 20, 2026 | 762 | $78.00 |
| Binstein Richard | F | Aug 20, 2026 | 450 | $78.00 |
| Williams Eric Joseph | F | Aug 20, 2026 | 714 | $78.00 |
| CURTIS JASON TRAVIS | F | Aug 20, 2026 | 40 | $78.00 |
| Minan Peter Francis | Buy | Jun 12, 2026 | 0.87 | $66.50 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $671.3M | $781.0M |
| Gross Profit | $121.5M | $123.9M | $149.7M |
| Operating Income | - | $63.2M | $86.7M |
| Net Income | $28.2M | $31.4M | $39.6M |
| Gross Margin | - | 18.5% | 19.2% |
| Op. Margin | - | 9.4% | 11.1% |
| Net Margin | - | 4.7% | 5.1% |
| Balance Sheet | |||
| Total Assets | $997.2M | $1.2B | $1.2B |
| Equity | - | $488.9M | $476.4M |
| ROE | - | 6.4% | 8.3% |
| Per Share | |||
| EPS | $1.28 | $1.84 | $1.42 |
| Cash Flow | |||
| Operating CF | - | $74.9M | $75.1M |
Source: XBRL data in U S PHYSICAL THERAPY INC /NV (USPH)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate USPH share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $480.0M |
| Q1 2026 | 31 | $548.3M |
| Q4 2025 | 31 | $566.6M |
| Q3 2025 | 31 | $628.3M |
| Q2 2025 | 29 | $544.4M |
| Q1 2025 | 25 | $338.2M |
| Q4 2024 | 22 | $319.0M |
| Q3 2024 | 20 | $185.7M |
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- Truist Financial−7.9K (-43%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 220 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
USPH filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 8-K | Sep 28, 2026 | - | Analysis | - |
| 8-K | Sep 21, 2026 | - | Analysis | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 8-K | Aug 14, 2026 | - | Analysis | - |
| 8-K | Aug 12, 2026 | - | Analysis | - |
| 8-K | Aug 10, 2026 | - | Analysis | - |
| 10-Q | Aug 7, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 8-K | Jul 6, 2026 | - | Analysis | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 10, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 20, 2026 | - | - | |
| 4 | May 20, 2026 | - | - |
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USPH SEC filings: frequently asked questions
Are USPH insiders buying or selling?
In the last 90 days, U S PHYSICAL THERAPY INC /NV (USPH) officers, directors and 10% owners reported 1 open-market purchase worth $416 by 1 insider and no open-market sales on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold USPH stock?
As of June 30, 2026, the largest U S PHYSICAL THERAPY INC /NV (USPH) holders among the 13F filers tracked by SignalX were BlackRock ($155.5 million), State Street Corp ($48.6 million), Morgan Stanley ($48.0 million), Vanguard Capital Management LLC ($46.3 million), Dimensional Fund Advisors ($35.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was USPH's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), U S PHYSICAL THERAPY INC /NV (USPH) reported revenue of $781.0 million (up 16.3% from FY2024) and net income of $39.6 million. Diluted EPS was $1.42. The figures come from the XBRL data in the 10-K.
What are the main risks in USPH's latest 10-K?
In the 10-K filed February 27, 2026, U S PHYSICAL THERAPY INC /NV (USPH) flagged: Regulatory risk from cybersecurity laws with Compliance Committee oversight and Diligent Cyber Risk Certification for Board members. Operational risk from evolving cybersecurity threats managed by CISO with 25+ years of experience, using external consultants for remediation. (AI summary of the Risk Factors section.)
What did USPH report in its latest 8-K?
U S PHYSICAL THERAPY INC /NV (USPH) filed an 8-K on September 28, 2026 reporting Item 2.03 (Creation of a Direct Financial Obligation) and Item 1.01 (Entry into a Material Definitive Agreement). Interest-rate swap executed with Bank of America under the April 26, 2022 ISDA Master Agreement.
What are the latest USPH SEC filings?
U S PHYSICAL THERAPY INC /NV (USPH) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 7, 2026, an 8-K current report on September 28, 2026 and a Form 4 insider filing on October 2, 2026.
What is USPH's SEC CIK number?
U S PHYSICAL THERAPY INC /NV (USPH)'s SEC Central Index Key (CIK) is 885978. EDGAR lists every USPH filing under that number.
Ask anything about USPH
The research agent reads USPH's filings, financials, insider trades and 13F holders, then answers with sources.