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Privia Health vs U S Physical Therapy: revenue, profit, margins and growth compared

Privia Health brought in $2.1B of revenue in fiscal 2025, U S Physical Therapy $781M in fiscal 2025. Revenue changed by +22.3% at Privia Health and +16.3% at U S Physical Therapy on the year before, so Privia Health grew faster. Privia Health kept 1.1% of its revenue as net profit, U S Physical Therapy 5.1%.

Side by side, latest fiscal year

PRVAUSPH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.1B$781M
Revenue growth+22.3%+16.3%
Net income$22.9M$39.6M
Net margin1.1%5.1%
Free cash flown/a$61M
Free cash flow marginn/a7.8%
Earnings per share (diluted)$0.18$1.42
Cash$479.7M$35.6M
Debtn/a$162.5M
Price to earnings109.559.8
Market value$2.5B$1.3B
Dividend yieldn/a2.12%
Rank by revenue in sector#106 of 523 · Health care#163 of 523 · Health care

Over the years

Revenue
PRVA FY2019: $786.4MPRVA FY2021: $817.1MPRVA FY2021: $966.2MPRVA FY2022: $1.4BPRVA FY2023: $1.7BPRVA FY2024: $1.7BPRVA FY2025: $2.1BUSPH FY2018: $453.9MUSPH FY2019: $482MUSPH FY2020: $423MUSPH FY2021: $495MUSPH FY2022: $553.1MUSPH FY2023: $604.8MUSPH FY2024: $671.3MUSPH FY2025: $781MFY18FY19FY20FY21FY22FY23FY24FY25
PRVA $2.1BUSPH $781M
Net income
PRVA FY2019: $8.2MPRVA FY2021: $31.2MPRVA FY2021: -$188.2MPRVA FY2022: -$8.6MPRVA FY2023: $23.1MPRVA FY2024: $14.4MPRVA FY2025: $22.9MUSPH FY2018: $34.9MUSPH FY2019: $40MUSPH FY2020: $35.2MUSPH FY2021: $40.8MUSPH FY2022: $32.2MUSPH FY2023: $28.2MUSPH FY2024: $31.4MUSPH FY2025: $39.6MFY18FY19FY20FY21FY22FY23FY24FY25
PRVA $22.9MUSPH $39.6M
Net margin
PRVA FY2019: 1.0%PRVA FY2021: 3.8%PRVA FY2021: -19.5%PRVA FY2022: -0.6%PRVA FY2023: 1.4%PRVA FY2024: 0.8%PRVA FY2025: 1.1%USPH FY2018: 7.7%USPH FY2019: 8.3%USPH FY2020: 8.3%USPH FY2021: 8.2%USPH FY2022: 5.8%USPH FY2023: 4.7%USPH FY2024: 4.7%USPH FY2025: 5.1%FY18FY19FY20FY21FY22FY23FY24FY25
PRVA 1.1%USPH 5.1%
Revenue growth
PRVA FY2021: +3.9%PRVA FY2021: +18.3%PRVA FY2022: +40.4%PRVA FY2023: +22.2%PRVA FY2024: +4.7%PRVA FY2025: +22.3%USPH FY2019: +6.2%USPH FY2020: -12.2%USPH FY2021: +17.0%USPH FY2022: +11.7%USPH FY2023: +9.3%USPH FY2024: +11.0%USPH FY2025: +16.3%FY19FY20FY21FY22FY23FY24FY25
PRVA +22.3%USPH +16.3%
Free cash flow
PRVA FY2019: $18.6MPRVA FY2021: $38.5MPRVA FY2021: $54.5MPRVA FY2022: $47.1MPRVA FY2023: $80.7MUSPH FY2018: $65.8MUSPH FY2019: $52.3MUSPH FY2020: $92.4MUSPH FY2021: $68.2MUSPH FY2022: $50.3MUSPH FY2023: $72.7MUSPH FY2024: $65.8MUSPH FY2025: $61MFY18FY19FY20FY21FY22FY23FY24FY25
PRVA $80.7MUSPH $61M

Fiscal years as each company reports them; the two may end in different months.

Questions about Privia Health and U S Physical Therapy

Which is bigger by revenue, Privia Health or U S Physical Therapy?

Privia Health is bigger by revenue: $2.1B in fiscal 2025, against $781M for U S Physical Therapy in fiscal 2025.

Which keeps more of its revenue as profit, Privia Health or U S Physical Therapy?

Privia Health had a net margin of 1.1% in fiscal 2025; U S Physical Therapy had 5.1% in fiscal 2025.

Which grew revenue faster, Privia Health or U S Physical Therapy?

In their latest fiscal years revenue changed by +22.3% at Privia Health and +16.3% at U S Physical Therapy.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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