U.S. Physical Therapy Inc. Common Stock (USPH)

FairStock Score: 30/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

U.S. Physical Therapy is a fragmented-clinic operator with industrial injury prevention services. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $214.1M and net income was $9.9M, or diluted EPS of $0.25. A year earlier, in fiscal Q2 2025, the quarter ended 2025-06-30, revenue was $197.3M, net income $12.4M, and diluted EPS $0.58; revenue rose but profit per share fell. For FY2025, revenue was $781.0M, net income $39.6M, and diluted EPS $1.42, against FY2024 revenue of $671.3M, net income of $31.4M, and diluted EPS of $1.84. So reported earnings are lumpy and per-share results are not compounding. The Lynch category supplied by FairStock is SLOW GROWER, with profit growing 2.4% a year over five years and revenue 13.0%. The business has some local referral and scale advantages, but ROE of 6.51% and ROCE of 4.10% do not show a wide moat. Financial health is decent: D/E 0.50, Piotroski 8/9, FCF $64.1M and a 5.0% FCF yield, plus a 2.23% dividend yield. Valuation is the rub. At the 2026-10-13 close of $85.44, FairStock shows P/E 502.59, P/B 2.84, EV/EBITDA 16.26, Graham Number $10.72, margin of safety -697.01%, and a FairStock Score of 30/100. The key question is whether margins and diluted EPS recover enough to justify the current price.

In plain English: U.S. Physical Therapy runs outpatient physical therapy clinics and industrial injury prevention services. Revenue is growing, but recent profits have been uneven and profit per share has fallen. At $85.44 on 2026-10-13, the stock looks expensive compared with the earnings and net assets shown in the supplied numbers, even though it pays a modest dividend and produces free cash flow.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer