US Physical Therapy AI Stock Analysis
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US Physical Therapy (USPH) AI Stock Analysis
US Physical Therapy
(NYSE:USPH)
USPH earns a mid-range score driven primarily by mixed financial performance (strong growth and cash generation but notable recent profitability deterioration). Technicals are supportive but appear overbought, while valuation is pressured by a negative P/E. The latest earnings call was a positive offset due to reaffirmed EBITDA guidance, record volumes, and improving rate/margin commentary despite ongoing cost and leverage headwinds.
US Physical Therapy (USPH) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $1.49B
- Dividend Yield
- 1.83%
- Average Volume (3M)
- 181.65K
- Price to Earnings (P/E)
- -74.1
- Beta (1Y)
- 0.80
- Revenue Growth
- 10.40%
- EPS Growth
- -156.70%
- Country
- US
- Employees
- 6,374
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Medical - Care Facilities
US Physical Therapy Business Overview & Revenue Model
Company Description
U.S. Physical Therapy, Inc., through its various subsidiaries, manages a network of outpatient physical therapy facilities. These clinics deliver a range of services, including rehabilitation before and after surgery, treatment for musculoskeletal co...
How the Company Makes Money
USPH makes money primarily through two business lines: (1) patient care revenue from operating outpatient physical therapy clinics and (2) management services revenue from providing administrative and operational support to affiliated therapy practic...
US Physical Therapy Earnings Call Summary
The call was strongly positive overall. The company delivered double-digit revenue, EBITDA, physical therapy, and injury-prevention growth; achieved record visit volumes; expanded hospital affiliations; improved revenue per visit and margins; generated higher operating cash flow; and reaffirmed full-year EBITDA guidance. These strengths were tempered by elevated self-insured health costs, higher debt and interest expense, GAAP earnings pressure, seasonal injury-prevention weakness, and integration and staffing challenges.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
The company reaffirmed full year EBITDA guidance of $102 million to $106 million; the fourth quarter will be the first quarter with both hospital partnerships and all 72 facilities for the entirety of the quarter, and management expects hospital-affiliation performance to continue, with “a little bit more rate progression” as the percentage of revenue under the hospital side grows. Management expects margins to continue to improve as volume and net rate improve, while focusing on keeping expenses flat; employee expenses “may continue into the fourth quarter.” No numerical guidance was provided for next year, with guidance expected in February, while the IPSI modifier phaseout is expected to begin in 2027, with benefits over “a many year period” and “continuing beyond the phase out,” and the fourth quarter is usually the seasonally soft quarter for injury prevention.
US Physical Therapy Financial Statement Overview
Summary
Solid revenue growth and clearly positive operating/free-cash-flow generation support the score, and leverage appears manageable. However, profitability has weakened materially versus prior years (compressed margins and slightly negative net income in TTM), which meaningfully offsets the growth and cash-flow strengths.
Income Statement
57NeutralBalance Sheet
64PositiveCash Flow
71Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 837.63M | 780.99M | 671.35M | 604.80M | 553.14M | 495.02M |
| Gross Profit | 155.53M | 157.34M | 123.92M | 121.51M | 112.02M | 117.18M |
| EBITDA | 100.89M | 109.66M | 86.91M | 74.37M | 76.09M | 85.73M |
| Net Income | -2.23M | 15.06M | 26.46M | 14.67M | 28.27M | 27.82M |
Balance Sheet | ||||||
| Total Assets | 1.30B | 1.20B | 1.17B | 997.24M | 858.15M | 749.43M |
| Cash, Cash Equivalents and Short-Term Investments | 38.23M | 35.57M | 41.36M | 152.82M | 31.59M | 28.57M |
| Total Debt | 419.94M | 425.74M | 295.23M | 258.59M | 295.34M | 223.08M |
| Total Liabilities | 508.36M | 433.81M | 408.42M | 345.00M | 373.59M | 296.98M |
| Stockholders Equity | 429.30M | 476.43M | 488.93M | 476.19M | 315.79M | 295.61M |
Cash Flow | ||||||
| Free Cash Flow | 69.10M | 60.99M | 65.75M | 72.68M | 50.29M | 68.20M |
| Operating Cash Flow | 88.83M | 75.06M | 74.94M | 81.98M | 58.54M | 76.41M |
| Investing Cash Flow | -78.13M | -36.71M | -149.45M | -45.02M | -81.27M | -124.14M |
| Financing Cash Flow | -3.58M | -44.14M | -36.95M | 84.27M | 25.76M | 43.38M |
US Physical Therapy Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For USPH, the sentiment is Positive. The current price of 100.10 is above the 20-day moving average (MA) of 89.73, above the 50-day MA of 85.42, and above the 200-day MA of 76.48, indicating a bullish trend. The MACD of 3.85 indicates Negative momentum. The RSI at 75.99 is Negative, neither overbought nor oversold. The STOCH value of 91.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for USPH.
US Physical Therapy Risk Analysis
US Physical Therapy disclosed 27 risk factors in its most recent earnings report. US Physical Therapy reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksUS Physical Therapy Peers Comparison
Overall Rating
CON75Outperform
ENSG75Outperform
EHC70Outperform
NHC68Neutral- USPH64Neutral
PNTG61Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| CON | 75Outperform | $5.40B | 25.71 | 48.02% | 0.58% | 11.84% | 40.63% |
| ENSG | 75Outperform | $10.80B | 26.95 | 16.63% | 0.14% | 17.49% | 19.82% |
| EHC | 70Outperform | $13.98B | 21.95 | 25.17% | 0.55% | 9.36% | 20.78% |
| NHC | 68Neutral | $3.27B | 28.55 | 10.41% | 1.25% | 5.71% | 12.44% |
| USPH | 64Neutral | $1.48B | -74.15 | -0.49% | 1.83% | 10.40% | -156.70% |
| PNTG | 61Neutral | $1.29B | 35.38 | 10.15% | ― | 38.67% | 33.07% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| USPH | U.s. Physical Therapy | 100.10 | 30.67 | 44.18% | |
| EHC | Encompass Health | 142.24 | 28.80 | 25.39% | |
| NHC | National Healthcare | 210.38 | 85.62 | 68.63% | |
| ENSG | The Ensign | 186.19 | 9.15 | 5.17% | |
| PNTG | Pennant Group Inc | 36.80 | 11.91 | 47.85% | |
| CON | Concentra Group Holdings Parent, Inc. | 43.45 | 23.90 | 122.23% |
US Physical Therapy Corporate Events
US Physical Therapy Declares New Quarterly Dividend
PositiveThe board of directors of US Physical Therapy declared a quarterly dividend of $0.46, payable on December 11, 2026, to shareholders of record on November 16, 2026. The most recent analyst rating on (USPH) stock is a Buy with a $110.00 price target. T...
US Physical Therapy Enters New Interest Rate Swap Agreement
NeutralOn September 22, 2026, U.S. Physical Therapy, Inc. entered into a 45‑month forward‑starting interest rate swap with Bank of America, fixing the variable component of interest on $170.6 million of term debt under its April 14, 2026 credit agreement. T...
US Physical Therapy Appoints New Executive Vice President CFO
PositiveU.S. Physical Therapy, Inc. entered into an employment agreement on August 12, 2026 with Nchacha Etta, appointing him Executive Vice President and Chief Financial Officer effective September 1, 2026. The two-year term renews automatically, and Etta w...
U.S. Physical Therapy Updates Strategic Investor Presentation
PositiveOn August 12, 2026, U.S. Physical Therapy updated its investor presentation to provide an overview of its operations, financial performance, and strategic positioning in the outpatient rehabilitation market. The materials highlight its expanding nati...
US Physical Therapy Reports Strong Q2 2026 Performance
PositiveOn August 6, 2026, U.S. Physical Therapy discussed its second-quarter and first-half 2026 results, highlighting record patient volumes, with visits per clinic per day reaching an all-time high of 33.5 and strong growth in its Metro partnership now al...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 07, 2026