US Physical Therapy (USPH) AI Stock Analysis

• Market Cap: $1.34B
• Dividend Yield: 2.03%
• Average Volume (3M): 157.14K
• Price to Earnings (P/E): 37.0
• Beta (1Y): 1.09
• Revenue Growth: 17.50%
• EPS Growth: 154.28%
• Country: US
• Employees: 4,034
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 0.66
• Shares Outstanding: 15,204,119
• 10 Day Avg. Volume: 148,344
• 30 Day Avg. Volume: 157,140
• PEG Ratio: 1.15
• Price to Book (P/B): 2.73
• Price to Sales (P/S): 1.99
• P/FCF Ratio: 20.32
• Enterprise Value/Market Cap: 1.38
• Enterprise Value/Revenue: 2.79
• Enterprise Value/Gross Profit: 12.90
• Enterprise Value/Ebitda: 16.24
• 1Y Price Target: $106.50
• Price Target Upside: 18.84% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $82.00 ▼(-8.50% Downside)

US Physical Therapy's overall stock score is driven by a strong earnings call performance, highlighting growth in patient visits and strategic initiatives. However, financial performance and technical analysis indicate challenges, such as revenue declines and bearish momentum. The stock's valuation is relatively high, which may limit upside potential.

Positive Factors

Patient Visit Growth

The significant growth in patient visits indicates strong demand for services and successful clinic expansion, enhancing long-term revenue potential.

Gross Profit Growth

Robust gross profit growth reflects effective cost management and operational efficiency, supporting sustainable profitability.

Medicare Reimbursement Improvement

Improved Medicare reimbursement rates can enhance revenue streams, providing a more favorable financial outlook for the company.

Negative Factors

Revenue Decline

A decline in revenue growth can signal challenges in market demand or competitive pressures, potentially impacting long-term financial health.

Negative Cash Flow Growth

Negative cash flow growth indicates issues in cash generation, which could limit the company's ability to invest in growth opportunities.

Medicare Rate Reduction Impact

Medicare rate reductions can pressure revenue and margins, challenging the company's ability to maintain profitability.

US Physical Therapy Business Overview & Revenue Model

Company Description

US Physical Therapy, Inc. (USPH) is a leading provider of outpatient physical therapy and related healthcare services in the United States. The company operates a network of physical and occupational therapy clinics across various states, focusing on delivering high-quality rehabilitation services to patients recovering from injuries, surgeries, and chronic conditions. USPH also engages in physical therapy management services and has partnerships with numerous hospitals and healthcare systems, which enhances its service offerings and market reach.

How the Company Makes Money

US Physical Therapy generates revenue primarily through the provision of outpatient physical therapy services. The company's revenue model is based on billing insurance companies and patients for therapy sessions, which typically involve direct billing to Medicare, Medicaid, and private health insurance plans. Key revenue streams include reimbursement for therapy services provided, management fees from clinics that are part of its network, and income from ancillary services such as diagnostic imaging. Additionally, USPH's strategic partnerships with healthcare providers and hospitals contribute to its earnings by increasing patient referrals and expanding its service offerings, thereby enhancing its overall financial performance.

US Physical Therapy Financial Statement Overview

Summary

US Physical Therapy demonstrates stable financial performance with consistent profitability and a solid balance sheet. However, recent revenue declines and negative cash flow growth highlight areas for improvement. The company should focus on reversing the revenue trend and enhancing cash flow generation to strengthen its financial position further.

Income Statement

US Physical Therapy's income statement shows a mixed performance. The TTM data reveals a decline in revenue growth, with a negative growth rate of -0.60%. However, the company maintains a stable gross profit margin of 20.37% and a net profit margin of 4.76%. EBIT and EBITDA margins are also healthy at 11.94% and 15.24%, respectively. Despite the recent revenue decline, the company has demonstrated consistent profitability over the years.

Balance Sheet

The balance sheet reflects a moderate financial position. The debt-to-equity ratio is 0.61, indicating a manageable level of leverage. Return on equity (ROE) is 6.43%, showing a modest return for shareholders. The equity ratio stands at 42.08%, suggesting a solid equity base relative to total assets. Overall, the company maintains a stable balance sheet with controlled debt levels.

Cash Flow

Cash flow analysis indicates some challenges. The free cash flow growth rate is negative at -6.53%, reflecting a decrease in cash generation. The operating cash flow to net income ratio is 0.60, and the free cash flow to net income ratio is 0.85, indicating that cash flows are sufficient to cover net income but have room for improvement. The company needs to focus on enhancing cash flow generation to support future growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	661.20M	671.35M	604.80M	553.14M	495.02M	422.97M
Gross Profit	143.26M	123.92M	111.99M	112.02M	117.18M	94.45M
EBITDA	113.78M	86.91M	74.37M	76.09M	85.73M	77.68M
Net Income	33.40M	26.46M	14.67M	43.41M	57.92M	52.49M
Balance Sheet
Total Assets	1.20B	1.17B	997.24M	858.15M	749.43M	594.36M
Cash, Cash Equivalents and Short-Term Investments	31.10M	41.36M	152.82M	31.59M	28.57M	32.92M
Total Debt	157.52M	295.23M	258.59M	295.34M	223.08M	110.99M
Total Liabilities	413.83M	408.42M	345.00M	373.59M	296.98M	184.39M
Stockholders Equity	503.57M	488.93M	476.19M	315.79M	295.61M	276.16M
Cash Flow
Free Cash Flow	56.90M	65.75M	72.68M	50.29M	68.20M	92.36M
Operating Cash Flow	69.53M	74.94M	81.98M	58.54M	76.41M	100.00M
Investing Cash Flow	-126.12M	-149.45M	-45.02M	-81.27M	-124.14M	-51.20M
Financing Cash Flow	-29.27M	-36.95M	84.27M	25.76M	43.38M	-39.42M

US Physical Therapy Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 89.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For USPH, the sentiment is Negative. The current price of 89.62 is above the 20-day moving average (MA) of 87.93, above the 50-day MA of 85.44, and above the 200-day MA of 79.19, indicating a bearish trend. The MACD of -1.48 indicates Positive momentum. The RSI at 24.80 is Positive, neither overbought nor oversold. The STOCH value of 26.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for USPH.

US Physical Therapy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MD	73 Outperform	$1.86B	11.52	19.98%	―	-4.21%	―
HCSG	72 Outperform	$1.27B	32.35	8.07%	―	6.26%	-19.33%
PNTG	69 Neutral	$873.73M	32.33	10.87%	―	29.89%	10.33%
SEM	67 Neutral	$1.66B	15.35	5.57%	1.79%	-22.96%	-59.35%
USPH	61 Neutral	$1.34B	37.04	7.30%	2.03%	17.50%	154.28%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AMN	50 Neutral	$790.63M	―	-35.90%	―	-11.42%	-617.31%

US Physical Therapy Corporate Events

U.S. Physical Therapy Reports Strong Q3 2025 Results

U.S. Physical Therapy, Inc. operates a network of outpatient physical therapy clinics and offers industrial injury prevention services across the United States, focusing on orthopedic and sports-related rehabilitation and workplace injury prevention.

U.S. Physical Therapy’s Earnings Call Highlights Robust Growth

The recent earnings call for U.S. Physical Therapy painted a picture of robust performance and optimistic future prospects. The company reported significant growth in patient visits and gross profit, driven by strategic initiatives. Despite challenges like Medicare rate reductions, the overall sentiment was positive, buoyed by new CMS rules and internal efficiency projects.

U.S. Physical Therapy Reports Strong Q3 2025 Performance

U.S. Physical Therapy reported a strong financial performance for the third quarter of 2025, with a significant increase in adjusted EBITDA and net income compared to the same period in 2024. The company saw a 17.8% rise in total revenue from physical therapy operations and an 18.0% increase in total patient visits, driven by clinic additions and a record-high volume of daily patient visits per clinic. The company also expanded its clinic network by adding 18 new clinics and acquiring a 60% equity interest in a three-clinic practice. Additionally, the Board of Directors declared a quarterly dividend of $0.45 per share, reflecting confidence in the company’s ongoing growth and financial stability.

The most recent analyst rating on (USPH) stock is a Buy with a $103.00 price target. To see the full list of analyst forecasts on US Physical Therapy stock, see the USPH Stock Forecast page.

US Physical Therapy Updates Investor Presentation

On August 12, 2025, U.S. Physical Therapy Inc. updated its investor presentation, which is available on the company’s website. The update provides an overview of the company, but the information is not considered filed under the Securities Exchange Act of 1934 and is not incorporated by reference into any other filings.

The most recent analyst rating on (USPH) stock is a Buy with a $115.00 price target. To see the full list of analyst forecasts on US Physical Therapy stock, see the USPH Stock Forecast page.

U.S. Physical Therapy Reports Strong Earnings Amid Challenges

The recent earnings call for U.S. Physical Therapy painted a picture of strong operational performance, with the company achieving record visits, increased revenue, and effective cost management. Despite challenges such as Medicare headwinds and staffing issues in certain markets, the company’s ability to increase guidance and maintain high patient satisfaction underscores a positive trajectory.

US Physical Therapy Discusses Q2 2025 Financial Results

On August 7, 2025, U.S. Physical Therapy Inc. held a conference call and webcast to discuss its financial results for the three and six months ended June 30, 2025. The transcript of the call was made available as part of a Current Report on Form 8-K, although it will not be considered filed for purposes of the Securities Exchange Act of 1934.

The most recent analyst rating on (USPH) stock is a Buy with a $115.00 price target. To see the full list of analyst forecasts on US Physical Therapy stock, see the USPH Stock Forecast page.

U.S. Physical Therapy Reports Strong Q2 2025 Results

U.S. Physical Therapy, Inc., a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, has reported its financial results for the second quarter of 2025, showcasing significant growth and strategic advancements. The company has achieved record patient visits and raised its full-year earnings guidance, reflecting strong operational performance.

US Physical Therapy Reports Record Q2 2025 Results

On August 6, 2025, U.S. Physical Therapy, Inc. reported record results for the second quarter of 2025, with significant increases in patient visits and revenue. The company saw a 21.4% rise in Adjusted EBITDA to $26.9 million and a 17.3% increase in total revenue to $168.3 million, driven by higher patient visits and strategic acquisitions. The company also raised its full-year 2025 guidance for Adjusted EBITDA, reflecting strong operational performance and growth in its injury prevention business.

The most recent analyst rating on (USPH) stock is a Buy with a $115.00 price target. To see the full list of analyst forecasts on US Physical Therapy stock, see the USPH Stock Forecast page.