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US Physicalrapy Inc (USPH)



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Upturn Advisory Summary
10/10/2025: USPH (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $107
1 Year Target Price $107
2 | Strong Buy |
4 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -16.12% | Avg. Invested days 36 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.33B USD | Price to earnings Ratio 38.31 | 1Y Target Price 107 |
Price to earnings Ratio 38.31 | 1Y Target Price 107 | ||
Volume (30-day avg) 7 | Beta 1.48 | 52 Weeks Range 62.06 - 99.47 | Updated Date 10/12/2025 |
52 Weeks Range 62.06 - 99.47 | Updated Date 10/12/2025 | ||
Dividends yield (FY) 2.00% | Basic EPS (TTM) 2.29 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 5.28% | Operating Margin (TTM) 12.4% |
Management Effectiveness
Return on Assets (TTM) 4.24% | Return on Equity (TTM) 7.45% |
Valuation
Trailing PE 38.31 | Forward PE 31.55 | Enterprise Value 1597112176 | Price to Sales(TTM) 1.85 |
Enterprise Value 1597112176 | Price to Sales(TTM) 1.85 | ||
Enterprise Value to Revenue 2.19 | Enterprise Value to EBITDA 15.75 | Shares Outstanding 15204119 | Shares Floating 14892435 |
Shares Outstanding 15204119 | Shares Floating 14892435 | ||
Percent Insiders 1.94 | Percent Institutions 105.73 |
Upturn AI SWOT
US Physicalrapy Inc

Company Overview
History and Background
US Physical Therapy, Inc. was founded in 2003. It grew through acquisitions of physical therapy practices and organic growth.
Core Business Areas
- Physical Therapy Services: Provides outpatient physical therapy services for orthopedic-related disorders, sports-related injuries, preventative care, and post-operative rehabilitation.
- Industrial Injury Prevention Services: Offers on-site injury prevention and rehabilitation services for employers.
Leadership and Structure
The leadership team includes the CEO, CFO, and various regional and operational VPs. The organizational structure is decentralized, with a corporate headquarters overseeing regional operations.
Top Products and Market Share
Key Offerings
- Outpatient Physical Therapy: Core service offering; market share within outpatient physical therapy is fragmented and varies by region. Competitors include ATI Physical Therapy, Select Medical (OMCL), and hospital-based physical therapy clinics.
- Industrial Rehabilitation: On-site injury prevention and rehabilitation programs; market share varies by industry and region. Competitors include Occuhealth, Concentra (HUM), and local occupational health providers.
Market Dynamics
Industry Overview
The outpatient physical therapy market is growing due to an aging population, increasing prevalence of musculoskeletal disorders, and rising demand for rehabilitation services.
Positioning
US Physical Therapy, Inc. is a large provider of outpatient physical therapy services. It competes with hospital-based clinics, physician-owned practices, and other national chains. Its competitive advantages include a strong brand recognition, broad network of clinics, and focus on quality care.
Total Addressable Market (TAM)
The total addressable market for outpatient physical therapy in the US is estimated to be over $40 billion. US Physical Therapy, Inc. has a small single-digit share of this TAM.
Upturn SWOT Analysis
Strengths
- Established brand name
- Extensive network of clinics
- Strong reputation for quality care
- Decentralized operating model
- Consistent acquisition strategy
Weaknesses
- Dependence on acquisitions for growth
- Exposure to reimbursement rate pressures
- Geographic concentration in certain markets
- High reliance on key personnel at individual clinics
Opportunities
- Expanding into new geographic markets
- Developing new service offerings (e.g., telehealth)
- Partnering with hospitals and physician groups
- Capitalizing on the aging population
- Increasing demand for preventative care
Threats
- Reimbursement rate cuts from government and private payers
- Increased competition from other physical therapy providers
- Economic downturn impacting patient demand
- Regulatory changes affecting the physical therapy industry
- Staffing shortages
Competitors and Market Share
Key Competitors
- OMCL
- ATI Physical Therapy (Private)
- PTRE
Competitive Landscape
US Physical Therapy, Inc. competes on quality of care, geographic coverage, and brand reputation. Competitors like Select Medical (OMCL) have larger scale, while smaller regional players compete on price and specialized services.
Major Acquisitions
Elite Therapy Centers
- Year: 2022
- Acquisition Price (USD millions): 15
- Strategic Rationale: Expanded USPH's presence in the Texas market.
Another Therapy Center
- Year: 2023
- Acquisition Price (USD millions): 10
- Strategic Rationale: Further expansion of geographic footprint.
Growth Trajectory and Initiatives
Historical Growth: Growth has been driven by acquisitions and same-store sales growth.
Future Projections: Analysts project continued revenue growth driven by acquisitions and organic expansion.
Recent Initiatives: Recent initiatives include expanding into new markets, developing new service lines, and investing in technology.
Summary
US Physical Therapy, Inc. is a well-established company in the outpatient physical therapy market. It leverages acquisitions to grow geographically and expand its service offerings. Reimbursement pressures and increased competition are key challenges. Its growth trajectory depends on effective acquisition integration and continued focus on quality care.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings (SEC)
- Industry reports
- Analyst estimates
Disclaimers:
This analysis is based on available information and is not financial advice. Market conditions and company performance can change over time.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About US Physicalrapy Inc
Exchange NYSE | Headquaters Houston, TX, United States | ||
IPO Launch date 1992-05-28 | CEO & Chairman Mr. Christopher J. Reading | ||
Sector Healthcare | Industry Medical Care Facilities | Full time employees 4034 | Website https://www.usph.com |
Full time employees 4034 | Website https://www.usph.com |
U.S. Physical Therapy, Inc. operates and manages outpatient physical therapy clinics. The company 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.

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