Reading the tape
NYSE: USPH
U.S. Physical Therapy, Inc.
Healthcare · Medical - Care Facilities
Market Cap
$1.08B
52w High
$93.50
52w Low
$66.67
P/E
70.02
Volume
108.91K
Outstanding Shares
15.20M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -2.51%Revenue (TTM): 1.81%FCF (TTM): -7.48%P/FCF: 21st pct
What changed
The stock fell 2.51% over the last year. Revenue grew 1.81% over the trailing twelve months. Operating margin moved from 8.9% to 13.45%. Free cash flow declined 7.48% over the trailing twelve months.
What the market seems to be pricing
The stock has moved lower against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 13.45%. A decisive move in revenue — currently up 1.81% — would be the clearest signal to resolve the ambiguity.
Company profile
U.S.
CEOChristopher J. Reading
SectorHealthcare
IndustryMedical - Care Facilities
Employees4,034
IPO dateMay 29, 1992
Valuation
Forward P/E—
EV/EBITDA14.36
Enterprise value$1.58B
Stock splits
Jun 29, 2001↑ Forward
Every 2 shares became 3
Jan 8, 2001↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth12.35%
Gross margin22.16%▲9.14%vs FY2024
Operating margin13.45%▲9.38%vs FY2024
ROE3.16%▼41.58%vs FY2024
Analyst consensus
RatingBuy
Target price$102.00▲43.46%
9
Buy
3
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 6, 2026
Q2 FY26 · EPS est $0.55 · Revenue est $200.94M
View
Dividends
$1.81/shareQuarterly5yr growth streakAt RiskUSPH pays a dividend with a 2.55% dividend yield, 5 consecutive years of growth, growing at 41.26% annually, covered 2.2× by free cash flow.
Dividend Yield
2.55%
Annual Div / Share
$1.81
5yr CAGR
+41.26%
Doubles every ~2.0yr
Payout Ratio
221.92%
At Risk
Dividend Growth Rate
3yr CAGR
+3.15%
5yr CAGR
+41.26%
10yr CAGR
+11.61%
Dividend Safety
6/10At Risk
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$1.80+2.3%
2024$1.76+2.3%
2023$1.72+4.9%
2022$1.64+12.3%
2021$1.46+356.2%
2020$0.32-71.9%
2019$1.14+23.9%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$25/yr
$2/mo
In 5 yrs
$45/yr+76%
$4/mo
In 10 yrs
$79/yr+211%
$7/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$25/yr $2/mo | $45/yr+76% $4/mo | $79/yr+211% $7/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 2.55% → 7.91% over 10yr
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 2.2× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 41.26% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 221.92% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.