(USPH) U.S. Physical Therapy - NYSE
Sector: Healthcare | Industry: Medical Care Facilities | Exchange: NYSE (USA) | Market Cap: 997m USD | Total Return: -13.5% in 12m
Avg Turnover: 12.0M
EPS Trend: 65.7%
Qual. Beats: 0
Rev. Trend: 95.9%
Qual. Beats: 0
Warnings
P/E ratio 131.0
Below Avwap Earnings
Tailwinds
No distinct edge detected
U.S. Physical Therapy, Inc. (USPH) operates and manages outpatient clinics through two primary segments: Physical Therapy Operations and Industrial Injury Prevention Services. The company provides specialized care for orthopedic disorders, sports injuries, and neurological conditions, alongside rehabilitative services for injured workers.
The business model relies heavily on a partnership structure, where USPH typically acquires a majority interest in existing practices while retaining local founders as minority partners to maintain operational continuity. This approach is common in the Health Care Facilities sub-industry to mitigate integration risks and ensure patient retention.
Beyond traditional clinical care, USPH services Fortune 500 clients by providing onsite ergonomic assessments and injury prevention programs. These industrial services aim to reduce workers compensation costs for employers by utilizing certified athletic trainers and physical therapists for performance optimization.
Investors may find further insights on the company’s valuation and growth metrics by visiting ValueRay. U.S. Physical Therapy, Inc. was founded in 1990 and maintains its corporate headquarters in Houston, Texas.
- Strategic acquisitions of independent clinics drive consistent outpatient volume and revenue growth
- Medicare reimbursement rate adjustments directly impact net patient revenue and operating margins
- Labor cost inflation for physical therapists pressures clinical margins and profitability
- Industrial injury prevention contract wins diversify revenue away from traditional healthcare payers
| Net Income: 1.18m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.63 > 1.0 |
| NWC/Revenue: 2.99% < 20% (prev 3.23%; Δ -0.24% < -1%) |
| CFO/TA 0.07 > 3% & CFO 83.7m > Net Income 1.18m |
| Net Debt (492.4m) to EBITDA (103.5m): 4.76 < 3 |
| Current Ratio: 1.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (15.2m) vs 12m ago 0.23% < -2% |
| Gross Margin: 20.44% > 18% (prev 19.12%; Δ 1.32% > 0.5%) |
| Asset Turnover: 60.22% > 50% (prev 56.64%; Δ 3.58% > 0%) |
| Interest Coverage Ratio: 8.13 > 6 (EBIT TTM 81.0m / Interest Expense TTM 9.97m) |
| A: 0.02 (Total Current Assets 139.1m - Total Current Liabilities 117.3m) / Total Assets 1.24b |
| B: 0.17 (Retained Earnings 216.9m / Total Assets 1.24b) |
| C: 0.07 (EBIT TTM 81.0m / Avg Total Assets 1.21b) |
| D: 1.02 (Book Value of Equity 469.0m / Total Liabilities 459.2m) |
| Altman-Z'' = 2.21 = BBB |
| DSRI: 0.98 (Receivables 96.7m/90.9m, Revenue 729.2m/668.2m) |
| GMI: 0.94 (GM 19.12% / 20.44%) |
| AQI: 1.00 (AQ_t 0.74 / AQ_t-1 0.74) |
| SGI: 1.09 (Revenue 729.2m / 668.2m) |
| TATA: -0.07 (NI 1.18m - CFO 83.7m) / TA 1.24b) |
| Beneish M = -3.05 (Cap -4..+1) = AA |
As of June 19, 2026, the stock is trading at USD 62.84 with a total of 221,130 shares traded.
Over the past week, the price has changed by +0.02%,
over one month by -2.67%,
over three months by -18.22% and
over the past year by -13.47%.
U.S. Physical Therapy has received a consensus analysts rating of 4.14. Therefore, it is recommended to buy USPH.
- StrongBuy: 2
- Buy: 4
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 93.7 | 49.1% |
P/E Trailing = 131.04
P/E Forward = 23.8663
P/S = 1.2659
P/B = 2.1275
P/EG = 2.384
Revenue TTM = 729.2m USD
EBIT TTM = 81.0m USD
EBITDA TTM = 103.5m USD
Long Term Debt = 194.0m USD (from longTermDebt, last quarter)
Short Term Debt = 53.6m USD (from shortTermDebt, last quarter)
Debt = 520.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 158.0m
Net Debt = 492.4m USD (calculated: Debt 520.8m - CCE 28.4m)
Enterprise Value = 1.49b USD (997.1m + Debt 520.8m - CCE 28.4m)
Interest Coverage Ratio = 8.13 (Ebit TTM 81.0m / Interest Expense TTM 9.97m)
EV/FCF = 22.27x (Enterprise Value 1.49b / FCF TTM 66.9m)
FCF Yield = 4.49% (FCF TTM 66.9m / Enterprise Value 1.49b)
FCF Margin = 9.17% (FCF TTM 66.9m / Revenue TTM 729.2m)
Net Margin = 0.16% (Net Income TTM 1.18m / Revenue TTM 729.2m)
Gross Margin = 20.44% ((Revenue TTM 729.2m - Cost of Revenue TTM 580.2m) / Revenue TTM)
Gross Margin QoQ = 14.47% (prev 20.65%)
Tobins Q-Ratio = 1.20 (Enterprise Value 1.49b / Total Assets 1.24b)
Interest Expense / Debt = 1.91% (Interest Expense 9.97m / Debt 520.8m)
Taxrate = 25.83% (18.4m / 71.0m)
NOPAT = 60.1m (EBIT 81.0m * (1 - 25.83%))
Current Ratio = 1.19 (Total Current Assets 139.1m / Total Current Liabilities 117.3m)
Debt / Equity = 1.11 (Debt 520.8m / totalStockholderEquity, last quarter 469.0m)
Debt / EBITDA = 4.76 (Net Debt 492.4m / EBITDA 103.5m)
Debt / FCF = 7.36 (Net Debt 492.4m / FCF TTM 66.9m)
Total Stockholder Equity = 487.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.10% (Net Income 1.18m / Total Assets 1.24b)
RoE = 0.24% (Net Income TTM 1.18m / Total Stockholder Equity 487.4m)
RoCE = 11.89% (EBIT 81.0m / Capital Employed (Equity 487.4m + L.T.Debt 194.0m))
RoIC = 5.23% (NOPAT 60.1m / Invested Capital 1.15b)
WACC = 6.12% (E(997.1m)/V(1.52b) * Re(8.57%) + D(520.8m)/V(1.52b) * Rd(1.91%) * (1-Tc(0.26)))
Discount Rate = 8.57% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 68.89 | Cagr: 0.53%
[DCF] Terminal Value 77.97% ; FCFF base≈62.6m ; Y1≈71.7m ; Y5≈105.5m
[DCF] Fair Price = 72.00 (EV 1.59b - Net Debt 492.4m = Equity 1.10b / Shares 15.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 65.73 | EPS CAGR: 4.52% | SUE: -0.33 | # QB: 0
Revenue Correlation: 95.87 | Revenue CAGR: 7.36% | SUE: -0.17 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.82 | Chg30d=+1.42% | Revisions=-11% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.78 | Chg30d=+4.52% | Revisions=-25% | Analysts=6
EPS current Year (2026-12-31): EPS=2.81 | Chg30d=-2.41% | Revisions=-45% | GrowthEPS=+6.7% | GrowthRev=+7.4%
EPS next Year (2027-12-31): EPS=3.41 | Chg30d=+3.04% | Revisions=-9% | GrowthEPS=+21.6% | GrowthRev=+6.8%
[Analyst] Revisions Ratio: -45%