# U.S. Physical Therapy Inc. (USPH) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Healthcare / Health Care Equipment & Supplies. Price $79.35, market value $1.2 billion.

## Valuation
- **P/E (trailing): 466.8×** (5-yr avg 47.9×, 3-yr avg 56.5×). U.S. Physical Therapy Inc. trades at 466.8× trailing earnings, well above its own five-year average of 47.9×: investors are paying up relative to the company's past. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 23.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.5×**. Each dollar of revenue is priced at 1.5×.
- **Price / book: 2.6×**. The shares trade at 2.6× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 13.3×**. Enterprise value is 13.3× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.4%** (5-yr avg 5.5%). Free cash flow equals 5.4% of the market value, in line with its five-year average of 5.5%. Above 5% is generally attractive.
- **Earnings yield: 0.2%**. The inverse of the P/E: 0.2% of the price is earned each year.

## Profitability
- **Gross margin: 18.7%**. U.S. Physical Therapy Inc. keeps 18.7% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 9.4%**. 9.4% of revenue is left after running the business.
- **Net margin: 5.1%**. 5.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.3%**. 8.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 10.0%**. Return on all capital, debt included, is 10.0%.
- **Return on assets: 2.7%**. Each dollar of assets produces 2.7% of profit.

## Growth
- **Revenue growth (1 yr): 16.3%** (3-yr 12.2%/yr, 5-yr 13.0%/yr). Revenue grew 16.3% over the last year, against 13.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -22.8%** (3-yr -14.2%/yr, 5-yr -10.6%/yr). Earnings per share fell 22.8%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 6.6%/yr**. Free cash flow has compounded at 6.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.34**. Debt is 0.34 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.3×**. It would take 1.3 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 3.08**. A Z-score of 3.08 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.32%** ($1.82 per share, trailing). U.S. Physical Therapy Inc. yields 2.32%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 69%**. 69% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 5**. 5 straight years of increases.
- **Dividend growth (5 yr): 41.3%/yr** (1-yr 2.3%). The dividend has compounded at 41.3% a year over five years, doubling roughly every 2 years at that pace.

## Analyst view
- **Analyst consensus: buy** (6 analysts). 6 analysts cover U.S. Physical Therapy Inc.; the consensus is buy, with an average price target of $95.00 (+20% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -5.7%** (YTD 3.0%, 3-mo 25.1%). The shares are down 5.7% over twelve months including dividends.
- **From 52-week high: -15.1%** (36.4% above the low). Trading 15% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 0.68** (volatility 39%). Beta of 0.68 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=USPH · Page: https://foliofundamentals.com/stocks/usph

Not investment advice.