U.S. Physical Therapy
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
23.9821.37
Price/Sales ratio
1.391.30
Earnings per Share (EPS)
$3.07$3.44

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
25.9329.8542.6940.77128.3125.4729.4021.2724.2390.05103.08103.08
Price/Sales ratio
1.682.002.462.192.853.023.642.481.902.182.123.02
Price/Book Value ratio
3.504.084.674.426.006.075.584.163.332.772.836.07
Price/Cash Flow ratio
11.3416.1217.1816.0517.7523.3515.4316.1217.9716.1116.4923.35
Price/Free Cash Flow ratio
12.8019.0120.5018.3619.6927.9116.7118.0620.9218.1818.5027.91
Price/Earnings Growth ratio
0.473.22-5.815.57-2.350.05-3.302.17-0.94-1.4691.22-2.35
Dividend Yield
1.14%1.11%0.96%1.10%0.89%0.99%0.26%1.52%2.02%1.82%1.93%0.89%
Profitability Indicator Ratios
Gross Profit Margin
24.96%23.65%23.00%21.88%22.39%23.33%22.33%23.67%20.25%18.51%18.30%23.33%
Operating Profit Margin
15.00%14.27%13.89%13.21%13.28%13.98%12.39%15.50%10.26%11.50%10.11%13.98%
Pretax Profit Margin
14.65%13.98%10.69%8.15%13.26%14.71%15.48%14.78%10.04%8.16%6.50%14.71%
Net Profit Margin
6.47%6.72%5.76%5.37%2.22%11.88%12.41%11.70%7.84%2.42%2.05%11.88%
Effective Tax Rate
31.93%31.61%31.14%17.86%18.88%19.24%19.87%20.86%21.88%24.61%24.24%18.88%
Return on Assets
8.08%7.95%5.85%5.31%2.27%10.20%8.83%7.72%5.05%1.47%1.29%10.20%
Return On Equity
13.51%13.68%10.95%10.86%4.67%23.83%19.00%19.59%13.74%3.08%2.76%23.83%
Return on Capital Employed
20.89%18.12%15.16%14.42%15.03%13.47%10.46%11.52%7.35%7.77%7.14%13.47%
Liquidity Ratios
Current Ratio
2.153.162.671.941.881.400.93N/AN/AN/A1.771.40
Quick Ratio
2.153.162.671.941.881.400.931.131.332.281.771.77
Cash ratio
0.550.830.810.550.550.380.350.340.361.491.010.55
Days of Sales Outstanding
39.3542.5439.7639.4135.9835.0036.1634.1134.2631.3043.5735.98
Days of Inventory outstanding
N/AN/A0.00N/AN/A0.000.000.00-2.36N/AN/A0.00
Operating Cycle
39.3542.5439.7639.4135.9835.0036.1634.1131.9031.3043.5735.98
Days of Payables Outstanding
2.842.362.172.442.092.461.486.255.382.884.402.09
Cash Conversion Cycle
36.5140.1837.5836.9633.8932.5434.6727.8626.5228.4139.1633.89
Debt Ratios
Debt Ratio
0.140.170.140.140.080.240.180.290.250.180.110.08
Debt Equity Ratio
0.240.300.270.290.180.570.400.750.680.380.250.18
Long-term Debt to Capitalization
0.190.220.210.210.150.310.220.390.350.220.130.31
Total Debt to Capitalization
0.190.230.210.220.150.360.280.430.400.270.200.15
Interest Coverage Ratio
42.0645.874.312.5929.5332.4340.33N/AN/AN/A8.1832.43
Cash Flow to Debt Ratio
1.260.830.980.931.830.450.900.340.260.450.680.68
Company Equity Multiplier
1.671.711.872.042.052.332.152.532.712.092.132.05
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.140.120.140.130.160.120.230.150.100.130.120.12
Free Cash Flow / Operating Cash Flow Ratio
0.880.840.830.870.900.830.920.890.850.880.890.83
Cash Flow Coverage Ratio
1.260.830.980.931.830.450.900.340.260.450.680.68
Short Term Coverage Ratio
51.1853.2141.6013.9750.912.293.082.441.401.901.862.29
Dividend Payout Ratio
29.71%33.43%41.40%45.22%115.45%25.41%7.82%32.39%49.11%164.42%248.06%115.45%