Is U.S. Physical Therapy (USPH) overvalued or fairly valued?

MarketChacha shows U.S. Physical Therapy's valuation in context — a trailing P/E of about 66.7, a forward P/E of about 23.4, a price-to-book of about 2.6 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does U.S. Physical Therapy's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.34×) from reported figures — education, not a rating.

What is U.S. Physical Therapy's revenue?

U.S. Physical Therapy reported revenue of $781.0M for FY2025, with net profit of $39.6M, per official filings.

What is the share price of U.S. Physical Therapy (USPH)?

U.S. Physical Therapy last traded at $79.35 (+0.9% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

U.S. Physical Therapy

USPH · NYSE · Healthcare · United States

Snapshot

TickerUSPH

ExchangeNYSE

SectorHealthcare

IndustryMedical Care Facilities

CountryUnited States

Employees4,653

HeadquartersHouston, United States

Websitewww.usph.com

Filings tracked25

About U.S. Physical Therapy

U.S. Physical Therapy, Inc., together with its subsidiaries, operates and manages outpatient physical therapy clinics. It operates through two segments, Physical Therapy Operations and Industrial Injury Prevention Services. The company provides pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries. It offers industrial injury prevention services, including onsite injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments through physical therapists and specialized certified athletic trainers for Fortune 500 companies, and other clients comprising insurers and their contractors. U.S. Physical Therapy, Inc. was founded in 1990 and is based in Houston, Texas.

Who owns it

Insiders2.5%
Institutions97.5%
Public & other0.0%

323 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.15.17%
Bahl & Gaynor LLC5.77%
Kayne Anderson Rudnick Investment Management LLC5.67%
Copeland Capital Management, LLC5.64%
State Street Corporation4.74%
Morgan Stanley4.68%
Vanguard Capital Management LLC4.52%
Neuberger Berman Group, LLC4.01%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion2.34×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend4.7% → 5.1%

Margin has held broadly steady over the period — stable profitability.

Growth qualityrev 14% · PAT 18%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $219.9M · EPS 0.91

Est. earnings growth +36.0%

Next fiscal year

Rev $908.5M · EPS 3.38

Est. earnings growth +16.9%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$781.0M

Net margin

5.1%

ROE

8.3%

Revenue CAGR (2y)

+13.6%

Profit CAGR (2y)

+18.4%

EPS (FY2025)

1.42

Net profit (FY2025)

$39.6M

Ask MarketChacha about USPH

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$781.0M	$39.6M	1.42	5.1%	8.3%
FY2024	$671.3M	$31.4M	1.84	4.7%	6.4%
FY2023	$604.8M	$28.2M	1.28	4.7%	5.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$214.1M	$9.9M	0.25	4.6%
2026Q1	$198.3M	$5.0M	-0.12	2.5%
2025Q3	$197.1M	$13.1M	0.48	6.7%
2025Q2	$197.3M	$12.4M	0.58	6.3%
2025Q1	$183.8M	$9.9M	0.80	5.4%
2024Q3	$168.0M	$6.6M	0.39	3.9%
2024Q2	$167.2M	$7.5M	0.47	4.5%
2024Q1	$155.7M	$8.0M	0.46	5.2%
2023Q3	$150.0M	$9.3M	0.51	6.2%
2023Q2	$151.5M	$10.9M	0.64	7.2%
2023Q1	$148.5M	$7.4M	0.58	5.0%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Reg FD disclosure, Exhibits
SEC8/10/2026material
10-Q filing
SEC8/7/2026
8-K — Results of operations, Other events, Exhibits
SEC8/6/2026material
8-K — Other events, Exhibits
SEC7/6/2026material
8-K — Shareholder vote results
SEC5/19/2026material
8-K — Reg FD disclosure, Exhibits
SEC5/11/2026material
10-Q filing
SEC5/8/2026
8-K — Results of operations, Other events, Exhibits
SEC5/6/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC4/15/2026material
8-K — Executive/director change, Exhibits
SEC3/13/2026material
8-K — Reg FD disclosure, Exhibits
SEC3/9/2026material
8-K — Reg FD disclosure, Exhibits
SEC3/3/2026material
10-K filing
SEC2/27/2026
8-K — Executive/director change, Reg FD disclosure, Other events, Exhibits
SEC2/26/2026material
8-K — Other events, Exhibits
SEC2/4/2026material
8-K — Other events, Exhibits
SEC1/7/2026material

2025

8-K — Reg FD disclosure, Exhibits
SEC11/18/2025material
8-K — Reg FD disclosure, Exhibits
SEC11/12/2025material
10-Q filing
SEC11/7/2025
8-K — Results of operations, Other events, Exhibits
SEC11/6/2025material
8-K — Reg FD disclosure, Exhibits
SEC8/12/2025material
8-K — Reg FD disclosure, Exhibits
SEC8/11/2025material
10-Q filing
SEC8/8/2025
8-K — Results of operations, Other events, Exhibits
SEC8/7/2025material
8-K — Other events, Exhibits
SEC8/1/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.