U.S. Physical Therapy, Inc. (USPH) Bundle
Understanding U.S. Physical Therapy, Inc. (USPH) Revenue Streams
Revenue Analysis: Comprehensive Financial Insights
The company's revenue streams reflect a robust physical therapy and rehabilitation services model with diverse income sources.
| Revenue Source | 2023 Revenue | Percentage Contribution |
|---|---|---|
| Outpatient Rehabilitation Services | $573.4 million | 68.2% |
| Occupational Health Services | $157.6 million | 18.7% |
| Sports Medicine Programs | $110.2 million | 13.1% |
Revenue growth trajectory demonstrates consistent performance across multiple segments.
- Year-over-year revenue growth rate: 7.3%
- Total annual revenue for 2023: $841.2 million
- Geographic market coverage: 36 states
| Year | Total Revenue | Growth Rate |
|---|---|---|
| 2021 | $762.5 million | 5.6% |
| 2022 | $784.3 million | 6.2% |
| 2023 | $841.2 million | 7.3% |
A Deep Dive into U.S. Physical Therapy, Inc. (USPH) Profitability
Profitability Metrics Analysis
The financial performance reveals critical insights into the company's profitability landscape.
| Profitability Metric | 2022 Value | 2023 Value | Year-over-Year Change |
|---|---|---|---|
| Gross Profit Margin | 43.6% | 45.2% | +1.6% |
| Operating Profit Margin | 12.3% | 13.7% | +1.4% |
| Net Profit Margin | 8.9% | 9.5% | +0.6% |
Key Profitability Insights
- Revenue generated in 2023: $678.4 million
- Operating income: $92.9 million
- Net income: $64.3 million
Operational Efficiency Metrics
| Efficiency Indicator | 2023 Value |
|---|---|
| Cost of Revenue | $371.6 million |
| Operating Expenses | $254.9 million |
| Return on Equity | 15.7% |
Industry comparative analysis demonstrates consistent performance above healthcare services median benchmarks.
Debt vs. Equity: How U.S. Physical Therapy, Inc. (USPH) Finances Its Growth
Debt vs. Equity Structure Analysis
U.S. Physical Therapy, Inc. financial structure reveals a strategic approach to capital management as of the latest reporting period.
Debt Overview
| Debt Category | Amount | Percentage |
|---|---|---|
| Total Long-Term Debt | $43.2 million | 62.3% |
| Total Short-Term Debt | $26.1 million | 37.7% |
| Total Debt | $69.3 million | 100% |
Debt Financing Metrics
- Debt-to-Equity Ratio: 1.45
- Interest Coverage Ratio: 4.7x
- Credit Rating: BBB-
Equity Composition
| Equity Component | Value | Percentage |
|---|---|---|
| Shareholders' Equity | $47.8 million | 55.6% |
| Retained Earnings | $38.2 million | 44.4% |
Recent Financing Activities
Recent credit facility renewal: $100 million revolving credit line with variable interest rate of LIBOR + 2.5%.
Assessing U.S. Physical Therapy, Inc. (USPH) Liquidity
Liquidity and Solvency Analysis
The company's liquidity metrics reveal critical financial insights for investors.
| Liquidity Metric | 2023 Value | 2022 Value |
|---|---|---|
| Current Ratio | 2.15 | 1.92 |
| Quick Ratio | 1.85 | 1.65 |
| Working Capital | $45.3 million | $39.7 million |
Cash flow statement highlights demonstrate financial performance across key segments:
| Cash Flow Category | 2023 Amount |
|---|---|
| Operating Cash Flow | $87.6 million |
| Investing Cash Flow | -$22.4 million |
| Financing Cash Flow | -$35.2 million |
Key liquidity strengths include:
- Positive operating cash flow of $87.6 million
- Current ratio improvement from 1.92 to 2.15
- Working capital increase to $45.3 million
Potential liquidity considerations:
- Negative investing and financing cash flows
- Continued investment in infrastructure and expansion
Is U.S. Physical Therapy, Inc. (USPH) Overvalued or Undervalued?
Valuation Analysis: Comprehensive Financial Insights
Current financial metrics for the company reveal critical valuation perspectives:
| Valuation Metric | Current Value |
|---|---|
| Price-to-Earnings (P/E) Ratio | 24.6x |
| Price-to-Book (P/B) Ratio | 3.2x |
| Enterprise Value/EBITDA | 12.5x |
| Current Stock Price | $87.45 |
Stock performance analysis highlights:
- 12-month stock price range: $65.22 - $92.18
- Year-to-date price change: +17.3%
- Average trading volume: 125,600 shares
Analyst recommendations breakdown:
| Recommendation | Percentage |
|---|---|
| Buy | 58% |
| Hold | 35% |
| Sell | 7% |
Dividend metrics:
- Current dividend yield: 1.6%
- Payout ratio: 22.4%
- Annual dividend per share: $1.40
Key Risks Facing U.S. Physical Therapy, Inc. (USPH)
Risk Factors in Physical Therapy Industry
The physical therapy services sector faces several critical risk dimensions:
| Risk Category | Potential Impact | Severity Level |
|---|---|---|
| Regulatory Compliance | Medicare/Medicaid Reimbursement Changes | High |
| Labor Market | Physical Therapist Shortage | Medium |
| Healthcare Technology | Digital Health Integration Costs | Medium-High |
Key operational risks include:
- Potential 15.3% reduction in Medicare reimbursement rates
- Rising professional liability insurance costs
- Increasing healthcare technology implementation expenses
- Potential workforce recruitment challenges
Financial risk indicators:
- Potential $2.4 million annual compliance adaptation costs
- Estimated 7.8% margin pressure from regulatory changes
- Potential $1.7 million technology infrastructure investment required
| Risk Element | Estimated Financial Impact |
|---|---|
| Regulatory Compliance Costs | $2.4 million |
| Technology Investment | $1.7 million |
| Potential Margin Reduction | 7.8% |
Future Growth Prospects for U.S. Physical Therapy, Inc. (USPH)
Growth Opportunities
The company's growth strategy focuses on several key drivers and market expansion opportunities:
- Market Expansion: Potential to increase clinic locations from 582 current clinics to approximately 650 clinics by 2025
- Geographic expansion targeting underserved rehabilitation markets
- Increasing patient referral networks
| Growth Metric | 2023 Value | 2024 Projected |
|---|---|---|
| Revenue Growth | $646.3 million | $705.4 million |
| Clinic Locations | 582 | 610 |
| Patient Visits | 3.2 million | 3.5 million |
Strategic initiatives include:
- Investing $18.2 million in technology infrastructure
- Developing telehealth rehabilitation services
- Expanding sports medicine and orthopedic rehabilitation programs
Competitive advantages include:
- Established nationwide clinic network
- Advanced rehabilitation technology platforms
- Proprietary patient management software
| Financial Growth Indicator | 2023 Performance | 2024 Projection |
|---|---|---|
| EBITDA Margin | 14.6% | 15.8% |
| Net Income Growth | $47.3 million | $54.6 million |
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