U.S. Physical Therapy: The Valuation Reset Changes The Story (Rating Upgrade)
U.S. Physical Therapy, Inc. has seen valuation multiples compress significantly despite continued revenue growth and new strategic initiatives. U.S. Physical Therapy reported Q1 2026 revenue of $198.3M (+7.9% YoY) but missed EPS expectations due to higher costs from acquisitions and clinic startups. Management is pursuing hospital partnerships and shifting toward private insurance, aiming to boost clinic utilization and reduce reliance on Medicare/Medicaid.
USPH - U.S. Physical Therapy, Inc.