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Side-by-side financial comparison of GRAFTECH INTERNATIONAL LTD (EAF) and U S PHYSICAL THERAPY INC (USPH). Click either name above to swap in a different company.

U S PHYSICAL THERAPY INC is the larger business by last-quarter revenue ($202.7M vs $125.1M, roughly 1.6× GRAFTECH INTERNATIONAL LTD). U S PHYSICAL THERAPY INC runs the higher net margin — 2.0% vs -34.6%, a 36.6% gap on every dollar of revenue. On growth, U S PHYSICAL THERAPY INC posted the faster year-over-year revenue change (12.3% vs 11.9%). U S PHYSICAL THERAPY INC produced more free cash flow last quarter ($21.0M vs $-27.1M). Over the past eight quarters, U S PHYSICAL THERAPY INC's revenue compounded faster (14.1% CAGR vs -4.6%).

GrafTech International Ltd. is a manufacturer of graphite electrodes and petroleum coke, which are essential for the production of electric arc furnace steel and other metals. Headquartered in Brooklyn Heights, Ohio, it has manufacturing facilities in Calais, France;Pamplona, Spain; Monterrey, Mexico; and St. Marys, Pennsylvania.

U.S. Physical Therapy Inc. operates hundreds of outpatient physical therapy clinics across the U.S. It offers rehabilitative care for patients recovering from injuries, surgeries, chronic pain and mobility impairments, plus specialized services including sports medicine and pediatric rehabilitation.

EAF vs USPH — Head-to-Head

Bigger by revenue
USPH
USPH
1.6× larger
USPH
$202.7M
$125.1M
EAF
Growing faster (revenue YoY)
USPH
USPH
+0.5% gap
USPH
12.3%
11.9%
EAF
Higher net margin
USPH
USPH
36.6% more per $
USPH
2.0%
-34.6%
EAF
More free cash flow
USPH
USPH
$48.1M more FCF
USPH
$21.0M
$-27.1M
EAF
Faster 2-yr revenue CAGR
USPH
USPH
Annualised
USPH
14.1%
-4.6%
EAF

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
EAF
EAF
USPH
USPH
Revenue
$125.1M
$202.7M
Net Profit
$-43.3M
$4.2M
Gross Margin
-7.8%
19.8%
Operating Margin
8.3%
Net Margin
-34.6%
2.0%
Revenue YoY
11.9%
12.3%
Net Profit YoY
-10.0%
-55.1%
EPS (diluted)
$-0.44

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
EAF
EAF
USPH
USPH
Q1 26
$125.1M
Q4 25
$116.5M
$202.7M
Q3 25
$144.0M
$197.1M
Q2 25
$131.8M
$197.3M
Q1 25
$111.8M
$183.8M
Q4 24
$134.2M
$180.4M
Q3 24
$130.7M
$168.0M
Q2 24
$137.3M
$167.2M
Net Profit
EAF
EAF
USPH
USPH
Q1 26
$-43.3M
Q4 25
$-65.1M
$4.2M
Q3 25
$-28.5M
$13.1M
Q2 25
$-86.9M
$12.4M
Q1 25
$-39.4M
$9.9M
Q4 24
$-49.5M
$9.2M
Q3 24
$-36.1M
$6.6M
Q2 24
$-14.8M
$7.5M
Gross Margin
EAF
EAF
USPH
USPH
Q1 26
-7.8%
Q4 25
-20.9%
19.8%
Q3 25
7.2%
18.7%
Q2 25
0.0%
21.1%
Q1 25
-1.5%
16.9%
Q4 24
-7.8%
18.0%
Q3 24
-9.2%
17.3%
Q2 24
2.9%
20.3%
Operating Margin
EAF
EAF
USPH
USPH
Q1 26
Q4 25
-33.6%
8.3%
Q3 25
-3.6%
12.8%
Q2 25
-11.0%
12.6%
Q1 25
-16.3%
10.7%
Q4 24
-18.6%
10.9%
Q3 24
-20.1%
7.6%
Q2 24
-2.0%
9.3%
Net Margin
EAF
EAF
USPH
USPH
Q1 26
-34.6%
Q4 25
-55.9%
2.0%
Q3 25
-19.8%
6.7%
Q2 25
-65.9%
6.3%
Q1 25
-35.2%
5.4%
Q4 24
-36.9%
5.1%
Q3 24
-27.6%
3.9%
Q2 24
-10.7%
4.5%
EPS (diluted)
EAF
EAF
USPH
USPH
Q1 26
Q4 25
$-6.86
$-0.44
Q3 25
$-1.10
$0.48
Q2 25
$-0.34
$0.58
Q1 25
$-0.15
$0.80
Q4 24
$-3.51
$0.52
Q3 24
$-1.40
$0.39
Q2 24
$-0.06
$0.47

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EAF
EAF
USPH
USPH
Cash + ST InvestmentsLiquidity on hand
$120.2M
$35.6M
Total DebtLower is stronger
$1.1B
Stockholders' EquityBook value
$476.4M
Total Assets
$997.2M
$1.2B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EAF
EAF
USPH
USPH
Q1 26
$120.2M
Q4 25
$35.6M
Q3 25
$31.1M
Q2 25
$34.1M
Q1 25
$39.2M
Q4 24
$41.4M
Q3 24
$117.0M
Q2 24
$120.7M
$112.9M
Total Debt
EAF
EAF
USPH
USPH
Q1 26
$1.1B
Q4 25
$1.1B
Q3 25
$1.1B
Q2 25
$1.1B
Q1 25
$1.1B
Q4 24
$1.1B
Q3 24
$929.5M
Q2 24
$928.2M
Stockholders' Equity
EAF
EAF
USPH
USPH
Q1 26
Q4 25
$-259.6M
$476.4M
Q3 25
$-194.4M
$503.6M
Q2 25
$-168.4M
$500.8M
Q1 25
$-105.3M
$497.3M
Q4 24
$-78.9M
$488.9M
Q3 24
$-9.0M
$482.8M
Q2 24
$16.2M
$484.6M
Total Assets
EAF
EAF
USPH
USPH
Q1 26
$997.2M
Q4 25
$1.0B
$1.2B
Q3 25
$1.1B
$1.2B
Q2 25
$1.1B
$1.2B
Q1 25
$1.2B
$1.2B
Q4 24
$1.2B
$1.2B
Q3 24
$1.1B
$1.0B
Q2 24
$1.2B
$1.0B
Debt / Equity
EAF
EAF
USPH
USPH
Q1 26
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
57.16×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
EAF
EAF
USPH
USPH
Operating Cash FlowLast quarter
$-14.9M
$24.9M
Free Cash FlowOCF − Capex
$-27.1M
$21.0M
FCF MarginFCF / Revenue
-21.6%
10.4%
Capex IntensityCapex / Revenue
9.7%
1.9%
Cash ConversionOCF / Net Profit
6.00×
TTM Free Cash FlowTrailing 4 quarters
$-105.1M
$61.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EAF
EAF
USPH
USPH
Q1 26
$-14.9M
Q4 25
$-20.9M
$24.9M
Q3 25
$24.7M
$19.9M
Q2 25
$-53.2M
$34.9M
Q1 25
$-32.2M
$-4.7M
Q4 24
$-26.4M
$19.4M
Q3 24
$23.7M
$22.1M
Q2 24
$-36.9M
$29.0M
Free Cash Flow
EAF
EAF
USPH
USPH
Q1 26
$-27.1M
Q4 25
$-39.3M
$21.0M
Q3 25
$18.4M
$15.6M
Q2 25
$-57.1M
$31.6M
Q1 25
$-42.5M
$-7.3M
Q4 24
$-39.2M
$16.9M
Q3 24
$19.7M
$19.6M
Q2 24
$-43.8M
$26.7M
FCF Margin
EAF
EAF
USPH
USPH
Q1 26
-21.6%
Q4 25
-33.7%
10.4%
Q3 25
12.8%
7.9%
Q2 25
-43.3%
16.0%
Q1 25
-38.0%
-3.9%
Q4 24
-29.2%
9.4%
Q3 24
15.1%
11.7%
Q2 24
-31.9%
15.9%
Capex Intensity
EAF
EAF
USPH
USPH
Q1 26
9.7%
Q4 25
15.8%
1.9%
Q3 25
4.4%
2.2%
Q2 25
3.0%
1.6%
Q1 25
9.2%
1.4%
Q4 24
9.5%
1.4%
Q3 24
3.1%
1.5%
Q2 24
5.1%
1.4%
Cash Conversion
EAF
EAF
USPH
USPH
Q1 26
Q4 25
6.00×
Q3 25
1.52×
Q2 25
2.81×
Q1 25
-0.47×
Q4 24
2.10×
Q3 24
3.34×
Q2 24
3.86×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

EAF
EAF

Segment breakdown not available.

USPH
USPH

Net Patient Revenues$169.7M84%
Industrial Injury Prevention Services Revenues$28.9M14%
Management Contract Revenues$2.3M1%

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