$USPH
U S PHYSICAL THERAPY INC /NV

2022 Q1 Form 10-Q Financial Statement

#000114036122018278 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $131.7M $112.4M
YoY Change 17.21% -0.31%
Cost Of Revenue $105.1M $86.40M
YoY Change 21.66% -7.4%
Gross Profit $26.59M $25.90M
YoY Change 2.67% 65.04%
Gross Profit Margin 20.19% 23.05%
Selling, General & Admin $11.56M $10.87M
YoY Change 6.27% -6.88%
% of Gross Profit 43.46% 41.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.824M $2.680M
YoY Change 42.69% 2.68%
% of Gross Profit 14.38% 10.35%
Operating Expenses $11.56M $10.87M
YoY Change 6.27% -6.88%
Operating Profit $15.03M $15.02M
YoY Change 0.07% 274.24%
Interest Expense -$155.0K -$200.0K
YoY Change -22.5% -50.0%
% of Operating Profit -1.03% -1.33%
Other Income/Expense, Net $448.0K -$192.0K
YoY Change -333.33% -50.0%
Pretax Income $15.48M $14.83M
YoY Change 4.38% 308.54%
Income Tax $3.498M $2.944M
% Of Pretax Income 22.6% 19.85%
Net Earnings $8.799M $8.173M
YoY Change 7.66% 704.43%
Net Earnings / Revenue 6.68% 7.27%
Basic Earnings Per Share $0.67 $0.21
Diluted Earnings Per Share $0.67 $0.21
COMMON SHARES
Basic Shares Outstanding 12.94M 12.87M
Diluted Shares Outstanding 12.94M 12.87M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.23M $17.90M
YoY Change 35.36% -80.02%
Cash & Equivalents $24.23M $17.90M
Short-Term Investments
Other Short-Term Assets $4.040M $3.800M
YoY Change 6.32% -21.19%
Inventory
Prepaid Expenses
Receivables $67.57M $54.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $95.84M $75.80M
YoY Change 26.44% -49.02%
LONG-TERM ASSETS
Property, Plant & Equipment $118.4M $103.3M
YoY Change 14.61% 349.48%
Goodwill $443.7M $360.2M
YoY Change 23.19% 8.89%
Intangibles $91.55M $57.59M
YoY Change 58.95% 3.5%
Long-Term Investments $12.42M
YoY Change
Other Assets $1.972M $1.500M
YoY Change 31.47% -4.03%
Total Long-Term Assets $668.0M $673.6M
YoY Change -0.83% 51.14%
TOTAL ASSETS
Total Short-Term Assets $95.84M $75.80M
Total Long-Term Assets $668.0M $673.6M
Total Assets $763.9M $749.4M
YoY Change 1.93% 26.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.475M $6.800M
YoY Change -4.78% 126.67%
Accrued Expenses $51.12M $51.67M
YoY Change -1.06% 27.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $799.0K $5.079M
YoY Change -84.27% 597.66%
Total Short-Term Liabilities $89.02M $90.80M
YoY Change -1.96% 27.62%
LONG-TERM LIABILITIES
Long-Term Debt $122.1M $16.57M
YoY Change 637.0% -86.03%
Other Long-Term Liabilities $76.42M $66.60M
YoY Change 14.75% 17426.32%
Total Long-Term Liabilities $122.1M $16.57M
YoY Change 637.0% 4260.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.02M $90.80M
Total Long-Term Liabilities $122.1M $16.57M
Total Liabilities $462.9M $322.2M
YoY Change 43.67% 23.71%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $301.0M $276.2M
YoY Change
Total Liabilities & Shareholders Equity $763.9M $598.4M
YoY Change 27.65% -6.97%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $8.799M $8.173M
YoY Change 7.66% 704.43%
Depreciation, Depletion And Amortization $3.824M $2.680M
YoY Change 42.69% 2.68%
Cash From Operating Activities $11.65M $17.67M
YoY Change -34.07% 7.88%
INVESTING ACTIVITIES
Capital Expenditures -$2.528M -$1.610M
YoY Change 57.02% -41.45%
Acquisitions $11.24M
YoY Change
Other Investing Activities -$13.42M -$11.60M
YoY Change 15.66% -11.92%
Cash From Investing Activities -$15.94M -$13.20M
YoY Change 20.79% -17.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -43.00K -19.45M
YoY Change -99.78% -129.67%
NET CHANGE
Cash From Operating Activities 11.65M 17.67M
Cash From Investing Activities -15.94M -13.20M
Cash From Financing Activities -43.00K -19.45M
Net Change In Cash -4.338M -14.98M
YoY Change -71.04% -122.69%
FREE CASH FLOW
Cash From Operating Activities $11.65M $17.67M
Capital Expenditures -$2.528M -$1.610M
Free Cash Flow $14.18M $19.28M
YoY Change -26.47% 0.78%

Facts In Submission

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6649000
CY2022Q1 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
1766000
CY2021Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
1984000
CY2022Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
379000
CY2021Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
498000
CY2022Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
3590000
CY2021Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2716000
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5327000
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
CY2022Q1 us-gaap Asset Acquisition Contingent Consideration Liability Current
AssetAcquisitionContingentConsiderationLiabilityCurrent
3520000
CY2021Q4 us-gaap Asset Acquisition Contingent Consideration Liability Current
AssetAcquisitionContingentConsiderationLiabilityCurrent
1000000
CY2022Q1 us-gaap Litigation Reserve Current
LitigationReserveCurrent
0
CY2021Q4 us-gaap Litigation Reserve Current
LitigationReserveCurrent
2750000
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
51121000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
45705000
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
122927000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
118417000
CY2022Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
799000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
830000
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
122128000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
117587000
CY2022Q1 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.003
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
799000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4128000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
118000000
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
122927000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
8404000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
7729000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
321000
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
368000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1932000
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1611000
CY2022Q1 us-gaap Lease Cost
LeaseCost
10657000
CY2021Q1 us-gaap Lease Cost
LeaseCost
9708000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
8617000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
8112000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6011000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7867000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
25297000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
28724000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
22109000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14808000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9285000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8292000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
108515000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5728000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
102787000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0270
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2022Q1 us-gaap Revenues
Revenues
131704000
CY2021Q1 us-gaap Revenues
Revenues
112368000
CY2022Q1 us-gaap Gross Profit
GrossProfit
26588000
CY2021Q1 us-gaap Gross Profit
GrossProfit
25896000
CY2022Q1 us-gaap Assets
Assets
763863000
CY2021Q1 us-gaap Assets
Assets
749426000
CY2009Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
859499
CY2022Q1 usph Additional Estimated Repurchase Of Common Stock
AdditionalEstimatedRepurchaseOfCommonStock
150830
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
99.45
CY2022Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0

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