US Physicalrapy Inc (USPH)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 40,395 | 42,159 | 42,120 | 42,404 | 44,322 | 54,662 | 55,714 | 57,283 | 56,103 | 59,543 | 60,914 | 58,025 | 48,216 | 40,970 | 38,019 | 43,843 | 53,686 | 56,376 | 55,225 | 47,800 |
| Revenue (ttm) | US$ in thousands | 604,802 | 591,183 | 580,778 | 569,949 | 553,144 | 541,795 | 528,086 | 514,358 | 495,022 | 488,399 | 469,431 | 426,360 | 426,709 | 425,613 | 435,939 | 478,455 | 481,969 | 479,009 | 474,301 | 462,481 |
| Pretax margin | 6.68% | 7.13% | 7.25% | 7.44% | 8.01% | 10.09% | 10.55% | 11.14% | 11.33% | 12.19% | 12.98% | 13.61% | 11.30% | 9.63% | 8.72% | 9.16% | 11.14% | 11.77% | 11.64% | 10.34% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $40,395K ÷ $604,802K
= 6.68%
U.S. Physical Therapy, Inc.'s pre-tax margin has exhibited a declining trend over the past eight quarters, starting at a high of 14.36% in Q1 2022 and steadily decreasing to 8.16% in Q4 2023. This indicates a potential deterioration in the company's ability to generate profits before accounting for taxes and other expenses relative to its revenue. The downward trajectory of the pre-tax margin warrants further investigation into the company's cost management strategies, revenue generation efficiency, and overall profitability trends to identify key factors influencing this decline.
Peer comparison
Dec 31, 2023