U.S. Physical Therapy, Inc. USPH
- Market cap
- $1.3B
- P/E
- 499×
Follow USPH
Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 45.62 | 56.50 | 71.70 | 99.02 | 45.13 | 84.43 | 73.30 | 78.08 | 76.18 | 62.77 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 72.65 | 78.00 | 129.65 | 148.48 | 134.11 | 143.67 | 131.50 | 124.11 | 113.63 | 93.50 |
High Price
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| 3,800 | 4,300 | 4,600 | 5,400 | 4,630 | 5,500 | 6,135 | 6,720 | 7,028 | 7,294 |
Employees
|
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| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue/Emp
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| 357 | 414 | 454 | 482 | 423 | 495 | 553 | 605 | 671 | 781 |
Revenue
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| 23.00% | 21.89% | 22.40% | 23.34% | 22.33% | 23.67% | 20.25% | 20.09% | 18.46% | 19.17% |
Gross Margin
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| 38 | 34 | 60 | 71 | 66 | 73 | 56 | 49 | 60 | 78 |
EBT
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| 10.70% | 8.15% | 13.26% | 14.71% | 15.49% | 14.79% | 10.05% | 8.16% | 8.97% | 9.96% |
EBT Margin
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| 26 | 28 | 49 | 57 | 52 | 58 | 43 | 37 | 46 | 58 |
Net Income
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| 9 | 10 | 10 | 10 | 11 | 12 | 24 | 34 | 19 | 23 |
Depreciation
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| 28.52 | 32.94 | 35.84 | 37.78 | 32.95 | 38.38 | 42.60 | 42.63 | 44.57 | 51.47 |
Revenue/Sh
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| 1.64 | 1.76 | 1.31 | 2.45 | 2.48 | 2.41 | 2.25 | 1.28 | 1.84 | 1.42 |
Earnings/Sh
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| 4.08 | 4.50 | 5.76 | 4.90 | 7.79 | 5.92 | 4.51 | 5.78 | 4.97 | 4.95 |
Cash Flow/Sh
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| (0.66) | (0.56) | (0.57) | (0.80) | (0.60) | (0.64) | (0.64) | (0.66) | (0.61) | (0.93) |
Capex/Sh
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| 3.43 | 3.94 | 5.20 | 4.10 | 7.20 | 5.29 | 3.87 | 5.12 | 4.37 | 4.02 |
Free CF/Sh
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| 15.10 | 16.39 | 17.12 | 18.95 | 21.63 | 23.04 | 24.42 | 33.65 | 32.53 | 31.43 |
Book Value/Sh
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| 13 | 13 | 13 | 13 | 13 | 13 | 13 | 14 | 15 | 15 |
Shares
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| 36.52 | 41.97 | 78.13 | 46.67 | 48.49 | 39.48 | 36.30 | 69.24 | 48.21 | 54.99 |
PE Ratio
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| 2.48 | 2.23 | 2.86 | 3.03 | 3.65 | 2.49 | 1.92 | 2.19 | 1.99 | 1.52 |
PS Ratio
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| 4.69 | 4.48 | 5.98 | 6.03 | 5.56 | 4.15 | 3.34 | 2.78 | 2.73 | 2.48 |
PB Ratio
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| 2.57 | 2.31 | 2.89 | 3.08 | 3.61 | 2.67 | 2.18 | 2.17 | 2.14 | 1.67 |
EV/Sales
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| 21.38 | 19.35 | 19.93 | 28.43 | 16.53 | 19.37 | 23.96 | 18.06 | 21.86 | 21.35 |
EV/FCF
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| 51 | 57 | 73 | 62 | 100 | 76 | 59 | 82 | 75 | 75 |
Op' Cash Flow
|
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| (8) | (7) | (7) | (10) | (8) | (8) | (8) | (9) | (9) | (14) |
Capex
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| 43 | 50 | 66 | 52 | 92 | 68 | 50 | 73 | 66 | 61 |
FCF
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| 41 | 38 | 37 | 25 | (6) | 12 | 26 | 131 | 21 | 1 |
Working Cap'
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| 51 | 57 | 38 | 50 | 17 | 118 | 176 | 139 | 143 | 153 |
Total Debt
|
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| 31 | 35 | 15 | 27 | (16) | 89 | 144 | (14) | 101 | 117 |
Net Debt
|
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| 189 | 206 | 217 | 242 | 278 | 297 | 317 | 477 | 490 | 477 |
Sh' Equity
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| 6.28% | 5.78% | 8.09% | 7.98% | 6.09% | 6.08% | 4.00% | 3.04% | 2.90% | 3.34% |
ROA
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| 14.12% | 14.20% | 16.25% | 15.69% | 12.54% | 11.43% | 7.70% | 6.81% | 6.66% | 9.12% |
ROIC
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| 11.39% | 11.28% | 16.49% | 17.46% | 13.55% | 14.21% | 10.47% | 7.11% | 6.50% | 8.19% |
ROE
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U.S. Physical Therapy, Inc. peers in Medical Care Facilities
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| AGL Agilon Health, Inc. | $1.3B | 0.0× | Compare |
| INNV InnovAge Holding Corp. | $1.2B | 0.0× | Compare |
| AMN AMN Healthcare Services Inc | $1.3B | 12.8× | Compare |
| PNTG The Pennant Group, Inc. | $1.4B | 43.4× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| NUTX Nutex Health Inc. | $1.4B | 8.4× | Compare |
| HCSG Healthcare Services Group, Inc. | $1.4B | 12.2× | Compare |
| ARDT Ardent Health, Inc. | $1.5B | 19.2× | Compare |
| ASTH Astrana Health, Inc. | $1.7B | 43.6× | Compare |
U.S. Physical Therapy, Inc. (USPH) key facts
- U.S. Physical Therapy, Inc. (USPH) is a Medical Care Facilities company in the Healthcare sector, listed on the New York Stock Exchange.
- U.S. Physical Therapy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $781.0 million, up 16.3% from fiscal 2024.
- As of September 25, 2026, USPH traded at $84.84, a market capitalization of $1.3 billion.
- U.S. Physical Therapy, Inc. pays an annual dividend of $1.72 per share, a yield of 1.83%, with a payout ratio of 87.5%.
- Return on equity was 8.19% and debt-to-equity 0.48.
U.S. Physical Therapy, Inc. (USPH) Latest News
21 Sep
U.S. Physical Therapy appointed Nchacha Etta as CFO, sharpening focus on cash conversion and capital discipline alongside responsibilities for balance-sheet management. The move prompts investors to re-evaluate how earnings translate into free cash flow and how long-term cash flows are valued, though near-term catalysts remain volume and margin improvements constrained by reimbursement pressure. The company has expanded its credit facility to US$450 million to support acquisitions and ongoing clinic investments aimed at boosting patient-volume growth and cost efficiency. How the new finance leadership deploys this flexibility while maintaining profitability and cash flow will shape the investment narrative. The projection calls for USPH to reach about $984.2 million in revenue and $100 million in earnings by 2029, implying 7.7% annual revenue growth and a $92.3 million earnings increase from current levels. Fair-value estimates range from roughly $93.67 to $146.82 per share, signaling varied investor views but a potential upside. Sharper cash-flow focus and a sizeable credit facility could materially affect USPH's growth trajectory and cash generation.
U.S. Physical Therapy, Inc. announced the appointment of Myra Davis to its Board of Directors, effective October 1, 2026. Davis currently serves as Executive Vice President and Chief Information Innovation Officer at Texas Children’s Hospital, where she has led technology strategy, digital transformation and information services since 2003, including roles as CIO (2009–2019) and Chief Information and Innovation Officer (2019–2023). She also sits on the boards of Werfen and advises the Healthcare Information Management Systems Society of America. Chairman Chris Reading praised her technology and innovation background as valuable to the company’s long-term positioning. USPH, which operates about 799 outpatient physical therapy clinics in 45 states and provides industrial injury prevention services, seeks governance input from Davis on tech-driven growth. Provides governance with strong CIO-level tech leadership likely influencing digital strategy, but no immediate financial or product-wide impact is indicated.
U.S. Physical Therapy appointed Nchacha Etta as chief financial officer, renewing investor focus as leadership changes collide with a renewed debate over the stock’s discounted cash-flow valuation. The stock has risen about 29.9% over the last 90 days and 5.9% over one year, but three- and five-year returns remain negative. Bulls tie the CFO move and an intrinsic value below a $93.67 fair value to upside, aided by cost-efficiency initiatives—AI-driven clinical documentation, semi-virtual front-desk ops, and recruiting/retention tech—that aim to lower per-visit operating and labor costs and lift margins. Bears caution that reimbursement pressure and clinician staffing limits could erode margins and the cash-flow narrative. The stock trades around 1.5x sales versus a 0.8x perceived fair multiple, implying valuation risk if market sentiment cools. Investors are urged to weigh both sides and compare with other undervalued stocks. CFO appointment and efficiency measures could improve earnings power and cash flow, but reimbursement headwinds and staffing constraints cap upside.
20 Sep
U.S. Physical Therapy trades around $82.47, down 21.3% over five years despite recent uptick. A DCF using about $68.5 million in free cash flow suggests a value well above the current price, implying the market hasn’t fully priced future cash generation. CFO Nchacha Etta’s appointment comes as the company pursues acquisitions and hospital partnerships but faces margin pressure and higher borrowings, which could temper cash-flow growth. Valuation signals like a 1.5x price-to-sales and a narrative of undervaluation coexist with two warning signs, and execution risk around leverage and growth tempo keeps investors cautious despite potential upside. CFO appointment and ongoing acquisitions with rising leverage could materially alter cash flow and valuation trajectory.
27 Aug
U.S. Physical Therapy is forming alliances with hospitals to increase patient visits and secure improved reimbursement rates. Hospital alliances represent a major strategic move that can expand patient volume and strengthen revenue for U.S. Physical Therapy.
13 Aug
USPH held its Q2 2026 earnings call covering financial results, operations, and forward outlook for U.S. Physical Therapy. Quarterly earnings call supplies performance metrics and guidance that shape near-term investor views without guaranteeing structural change.
9 Aug
U.S. Physical Therapy Q2 earnings call covered financial results, operational updates and outlook. Q2 earnings details may moderately shape near-term investor views on performance.
6 Aug
US Physical Therapy Inc reported record patient visits for Q2 2026 and raised full-year guidance during its earnings call. Record visits and raised guidance point to stronger operations and an improved outlook that can move stock performance.
U.S. Physical Therapy, Inc. issued a summary of its Q2 2026 earnings call covering financial results and outlook. Q2 earnings updates typically deliver moderate financial and operational details that influence near-term stock sentiment without major strategic shifts.
U.S. Physical Therapy reported mixed Q2 results, prompting questions on whether its stock remains undervalued. Mixed quarterly results can moderately influence company financial performance and investor sentiment on valuation.
5 Aug
U.S. Physical Therapy reported Q2 earnings with key metrics including revenue and EPS compared against Wall Street estimates. Q2 earnings metrics versus estimates can moderately shift near-term investor sentiment on USPH results.
U.S. Physical Therapy reported second quarter 2026 results and reaffirmed full year guidance. Quarterly results with reaffirmed guidance update financial performance expectations.
13 Jul
U.S. Physical Therapy (NYSE:USPH) Q1 performance featured in outpatient and specialty care stocks highlights. Q1 results coverage can moderately shift near-term investor sentiment on financial trajectory.
7 Jul
U.S. Physical Therapy, Inc. acquires a clinic to advance its outpatient care roll-up strategy. Clinic acquisition advances USPH outpatient consolidation and expands market reach.
2 Jul
U.S. Physical Therapy acquires twelve-clinic physical therapy practice. Twelve-clinic acquisition constitutes major strategic expansion likely to boost revenue and market position.
21 May
USPH carries three major risks that threaten its outlook, leading analysts to recommend buying shares of a different company instead. Negative risk assessment may pressure investor sentiment and produce short-term share-price weakness for USPH.
16 May
U.S. Physical Therapy held its Q1 earnings call and addressed the top five analyst questions on financial results and outlook. Q1 earnings call details on results and strategy moderately affect investor sentiment and near-term stock movement.
7 May
U.S. Physical Therapy, Inc. held its Q1 2026 earnings call covering quarterly financial results, operational updates and forward guidance. Quarterly earnings and guidance typically produce moderate effects on near-term stock movement and sentiment.
6 May
Key metrics from U.S. Physical Therapy (USPH) Q1 earnings highlight performance insights for investors. Q1 earnings metrics analysis signals significant potential shifts in USPH's financial trajectory and investor sentiment.
U.S. Physical Therapy, Inc. (USPH) reported record first-quarter revenue and reaffirmed its full-year guidance. Record Q1 revenue and reaffirmed full-year guidance indicate strong financial performance and positive outlook for USPH.
U.S. Physical Therapy, Inc. (USPH) reported Q1 earnings and revenues below analyst estimates. Q1 earnings and revenue misses directly impair financial performance and investor confidence.
21 Apr
U.S. Physical Therapy secures new US$450 million credit facilities, potentially shaping USPH investors' outlook through enhanced financial flexibility for growth and acquisitions. $450 million credit facilities provide major financing capacity for strategic expansions, significantly impacting USPH's growth trajectory and market performance.
15 Apr
U.S. Physical Therapy, Inc. (USPH) announces a new $450 million credit facility to enhance liquidity, support growth initiatives, and fund potential acquisitions in the outpatient physical therapy sector. Securing a $450 million credit facility provides substantial financial flexibility for expansions and acquisitions, significantly enhancing USPH's growth trajectory and investor confidence.
30 Mar
U.S. Physical Therapy (USPH) stock merits selling due to three key reasons, while one alternative stock presents a stronger buy opportunity. Three explicit reasons to sell USPH indicate major risks to financial performance and investor sentiment.
7 Mar
U.S. Physical Therapy, Inc. (USPH) raises guidance amid revenue growth and record clinic volumes, prompting a valuation review highlighting potential undervaluation. Raised guidance on revenue growth and record clinic volumes signals major operational strength poised to significantly enhance USPH's trajectory and investor sentiment.
28 Feb
U.S. Physical Therapy reported Q4 earnings call highlights including revenue growth, clinic acquisitions, comparable clinic sales increase, raised full-year outlook, and strong patient volumes amid favorable reimbursement rates. Q4 earnings highlights detail robust financial performance, strategic expansions, and optimistic guidance significantly impacting future growth and investor confidence.
U.S. Physical Therapy (USPH) secures new hospital alliance, hikes dividend, and shifts CFO, developments hailed as potential game changers for its future. New hospital alliance, dividend hike, and CFO shift constitute major strategic moves likely to significantly enhance USPH's competitive position and investor sentiment.
26 Feb
US Physical Therapy Inc (USPH) reported strong revenue growth in Q4 2025 earnings call highlights, alongside other key financial achievements. Strong revenue growth from Q4 2025 earnings signals major positive shifts in financial performance and investor sentiment for USPH.
U.S. Physical Therapy, Inc. released Q4 2025 earnings call summary highlighting financial results, operational updates, and future outlook. Q4 earnings call summary discloses financial performance and guidance that significantly influences USPH stock trajectory and investor sentiment.
25 Feb
U.S. Physical Therapy, Inc. (USPH) released its Q4 earnings snapshot. Q4 earnings snapshots reveal financial results that significantly influence stock performance and investor outlook.