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US Physical Therapy ( (USPH) ) just unveiled an update.
On February 26, 2026, U.S. Physical Therapy reported that 2025 was a strong year financially, with adjusted EBITDA up 16.2%, net revenue up 16.3%, and operating income up 18.4% despite ongoing Medicare rate cuts. Patient demand drove record visit volumes per clinic, gross profit rose more than 20% in both physical therapy and injury prevention segments, and the company continued to expand through acquisitions in the Pacific Northwest, home care, and injury prevention services.
Management highlighted new long-term hospital arrangements covering 60 metro clinics and 10 additional facilities, expected to fully phase in by late 2026 and deliver at least $14 million in EBITDA at the enterprise level in 2027, strengthening USPH’s reach, volumes, and margins in key markets. The company outlined 2026 initiatives including deployment of ambient documentation tools, semi-virtual front desk operations, expansion of cash-pay programs, renewed remote therapeutic monitoring, and continued M&A and de novo clinic growth, which collectively are intended to build on recent momentum and accelerate performance, especially in hospital-focused partnerships heading into 2027.
The most recent analyst rating on (USPH) stock is a Buy with a $98.00 price target. To see the full list of analyst forecasts on US Physical Therapy stock, see the USPH Stock Forecast page.
Spark’s Take on USPH Stock
According to Spark, TipRanks’ AI Analyst, USPH is a Neutral.
The score is driven primarily by stable-to-improving fundamentals (better margins and solid free cash flow) and a supportive earnings call with raised EBITDA guidance. Offsetting factors are weak technical momentum (price below key moving averages with low RSI/Stoch) and a relatively expensive valuation (P/E ~34.9) despite a ~2.20% dividend yield.
To see Spark’s full report on USPH stock, click here.
More about US Physical Therapy
U.S. Physical Therapy, Inc. is a national operator of outpatient physical therapy clinics and a provider of industrial injury prevention services, with nearly 800 clinics across the U.S. The company focuses on musculoskeletal care, including in-clinic and home-based therapy, and is expanding its presence through acquisitions, cash-based programs, and strategic hospital alliances in major markets such as New York City.
Its business model centers on high-volume outpatient rehabilitation, employer-focused injury prevention offerings, and long-term partnerships with health systems, positioning the company to benefit from growing demand for cost-effective musculoskeletal treatment and expanded access to care in large metropolitan areas.
Average Trading Volume: 207,200
Technical Sentiment Signal: Hold
Current Market Cap: $1.26B
For an in-depth examination of USPH stock, go to TipRanks’ Overview page.