U.S. Physical Therapy, Inc. logo

U.S. Physical Therapy, Inc.

USPH

NYSEHealthcareMedical - Care Facilities

Previous close

$78.21

+$0.21 · +0.27%

Aug 21, 4:00 PM ET

USPH company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

21

Expensive

Momentum

46

Neutral

Sentiment

70

Bullish

Risk resilience

58

Elevated Risk

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Company profile

Company website

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 conditions, recovery from sports-related trauma, proactive health measures, assistance for workers recovering from injuries, and care for neurological conditions. The company's business is divided into two primary divisions: Physical Therapy Operations and Industrial Injury Prevention Services. Within its industrial segment, it provides specialized services like on-site injury avoidance and recovery programs, strategies for enhancing physical performance, pre-employment screening tests, assessments of an individual's work capacity, and workplace ergonomic reviews. These offerings are delivered by licensed physical therapists and expert certified athletic trainers to a diverse clientele, including Fortune 500 corporations, insurance providers, and their associated contractors. By the end of 2021, specifically December 31st, the company had established 591 operational clinics across 39 states, in addition to overseeing 35 other physical therapy sites. Established in 1990, the company maintains its headquarters in Houston, Texas.

Industry
Medical - Care Facilities
Sector
Healthcare
Headquarters
US
CEO
Christopher J. Reading
Listed since
May 29, 1992
Employees
6,374

Market position

Day range

Current $78.21

52-week range

Current $78.21

Open
$77.875
Previous close
$78.00
Volume
124.24K
0.54× average
Average volume
228.07K
Average daily volume
Market cap
1.19B USD
Beta
1.13
Market reference 1
50-day average
$73.504
+6.40% above average
200-day average
$75.4245
+3.69% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
1.58B USD
P/E (TTM)
460.06×
P/B (TTM)
2.63×
P/S (TTM)
1.53×
EV / EBITDA
14.36×
Earnings yield
1.27%
Free cash flow yield
5.15%
Dividend yield
2.34%

Profitability & efficiency

Gross margin
19.17%
Operating margin
10.81%
Net margin
-0.77%
Return on equity
3.16%
Return on assets
1.25%
Return on invested capital
5.37%

Financial health

Debt / equity
0.86×
Current ratio
1.01×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends26%17%8%-0%Gross margin, FY2021: 23.67%Gross margin, FY2022: 20.25%Gross margin, FY2023: 20.09%Gross margin, FY2024: 18.46%Gross margin, FY2025: 20.15%Operating margin, FY2021: 14.27%Operating margin, FY2022: 10.27%Operating margin, FY2023: 8.61%Operating margin, FY2024: 9.42%Operating margin, FY2025: 10.30%Net margin, FY2021: 5.62%Net margin, FY2022: 5.11%Net margin, FY2023: 2.43%Net margin, FY2024: 3.94%Net margin, FY2025: 1.93%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 23.67%. Gross margin FY2022 20.25%. Gross margin FY2023 20.09%. Gross margin FY2024 18.46%. Gross margin FY2025 20.15%. Operating margin FY2021 14.27%. Operating margin FY2022 10.27%. Operating margin FY2023 8.61%. Operating margin FY2024 9.42%. Operating margin FY2025 10.30%. Net margin FY2021 5.62%. Net margin FY2022 5.11%. Net margin FY2023 2.43%. Net margin FY2024 3.94%. Net margin FY2025 1.93%.

Income trends

Revenue

780.99M USD+16.33%

Operating income

80.43M USD+27.24%

Net income

15.06M USD-43.08%
Income trends across reported periods857.62M USD551.1M USD244.57M USD−61.96M USDRevenue, FY2021: 495.02M USDRevenue, FY2022: 553.14M USDRevenue, FY2023: 604.8M USDRevenue, FY2024: 671.35M USDRevenue, FY2025: 780.99M USDOperating income, FY2021: 70.65M USDOperating income, FY2022: 56.8M USDOperating income, FY2023: 52.06M USDOperating income, FY2024: 63.21M USDOperating income, FY2025: 80.43M USDNet income, FY2021: 27.82M USDNet income, FY2022: 28.27M USDNet income, FY2023: 14.67M USDNet income, FY2024: 26.46M USDNet income, FY2025: 15.06M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 495.02M USD. Revenue FY2022 553.14M USD. Revenue FY2023 604.8M USD. Revenue FY2024 671.35M USD. Revenue FY2025 780.99M USD. Operating income FY2021 70.65M USD. Operating income FY2022 56.8M USD. Operating income FY2023 52.06M USD. Operating income FY2024 63.21M USD. Operating income FY2025 80.43M USD. Net income FY2021 27.82M USD. Net income FY2022 28.27M USD. Net income FY2023 14.67M USD. Net income FY2024 26.46M USD. Net income FY2025 15.06M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue780.99M USD671.35M USD604.8M USD553.14M USD495.02M USD
Cost of goods sold623.65M USD547.42M USD483.29M USD441.12M USD377.84M USD
Gross profit157.34M USD123.92M USD121.51M USD112.02M USD117.18M USD
Selling, general, and administrative58.29M USD46.11M USD46.53M USD
Operating expenses76.91M USD60.71M USD69.45M USD55.22M USD46.53M USD
Interest income105K USD3.94M USD3.77M USD
Interest expense9.46M USD8.02M USD9.3M USD5.78M USD942K USD
Depreciation and amortization22.39M USD18.68M USD15.7M USD14.74M USD11.59M USD
Operating income80.43M USD63.21M USD52.06M USD56.8M USD70.65M USD
Net income15.06M USD26.46M USD14.67M USD28.27M USD27.82M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 6 misses, 1 met estimate
Average EPS surprise
-2.45%
11 comparable reports
Latest EPS result
0.75
Estimate 0.81 · Miss by 7.86%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.850.710.560.42Q1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MetQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 0.65, estimate 0.69, surprise -5.80%, Miss. Q2 2025, reported May 7, 2025: actual 0.48, estimate 0.46, surprise +4.35%, Beat. Q3 2025, reported Aug 6, 2025: actual 0.81, estimate 0.71, surprise +14.08%, Beat. Q4 2025, reported Nov 5, 2025: actual 0.66, estimate 0.67, surprise -1.49%, Miss. Q1 2026, reported Feb 25, 2026: actual 0.67, estimate 0.67, surprise 0.00%, Met estimate. Q2 2026, reported May 6, 2026: actual 0.46, estimate 0.55, surprise -16.36%, Miss. Q3 2026, reported Aug 5, 2026: actual 0.75, estimate 0.814, surprise -7.86%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.78, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates222.62M196.41M170.2M143.98MQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 180.45M USD, estimate 173.1M USD, surprise +4.24%, Beat. Q2 2025, reported May 7, 2025: actual 152.55M USD, estimate 188.18M USD, surprise -18.94%, Miss. Q3 2025, reported Aug 6, 2025: actual 164.18M USD, estimate 189.85M USD, surprise -13.52%, Miss. Q4 2025, reported Nov 5, 2025: actual 164.02M USD, estimate 200.1M USD, surprise -18.03%, Miss. Q1 2026, reported Feb 25, 2026: actual 202.73M USD, estimate 199.9M USD, surprise +1.42%, Beat. Q2 2026, reported May 6, 2026: actual 198.29M USD, estimate 200.94M USD, surprise -1.32%, Miss. Q3 2026, reported Aug 5, 2026: actual 214.06M USD, estimate 211.36M USD, surprise +1.28%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 214.02M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$96.00

22.75% upside
Past 12 months12-month forecastHigh $102Average $96.00Low $90.00

Rating distribution

13 ratings
Strong buy00%
Buy1077%
Hold323%
Sell00%
Strong sell00%

Recent analyst actions

6 institutions
JMP SecuritiesmaintainMarket Outperform
CJS SecuritiesupgradeMarket PerformMarket Outperform

USPH peers

ETFs holding USPH

Funds reporting this stock among their holdings, ordered by reported position size.

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