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US Physical TherapyUSPH -0.48%82 Debt-to-EBITDA is 4.69 as of Mar. 2026, which is 120% above its 10-year median of 2.13. GuruFocus rates USPH with a GF Score™ of 82/100 and a GF Value™ of $108.22 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 477 Healthcare Providers & Services companies, US Physical Therapy ranks worse than 64.78% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for US Physical Therapy's Debt-to-EBITDA or its related term are showing as below:
USPH'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.55 Med: 2.13 Max: 3.88
Current: 3.5
During the past 13 years, the highest Debt-to-EBITDA Ratio of US Physical Therapy was 3.88. The lowest was 0.55. And the median was 2.13.
USPH's Debt-to-EBITDA is ranked worse than 64.78% of 477
companies
in the Healthcare Providers & Services industry
Industry Median: 2.22
vs USPH: 3.50
US Physical Therapy (NYSE:USPH) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
US Physical Therapy Debt-to-EBITDA Related Terms
US Physical Therapy Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for US Physical Therapy's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
USPH vs NUTX, PNTG, AMN: Debt-to-EBITDA Comparison
For the Medical Care Facilities subindustry, US Physical Therapy's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
US Physical Therapy Debt-to-EBITDA vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, US Physical Therapy's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where US Physical Therapy's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
US Physical Therapy (USPH) has a Debt-to-EBITDA of 4.69 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on US Physical Therapy. This is 120% above median its historical median of 2.13. Over the past decade, US Physical Therapy's Debt-to-EBITDA has ranged from 0.55 to 3.88. According to the industry distribution chart, US Physical Therapy ranks #309 out of 477 companies in the Healthcare Providers & Services industry, placing it in the top 64.8%.
Is US Physical Therapy's Debt-to-EBITDA too high?
US Physical Therapy's current Debt-to-EBITDA of 4.69 is 120% above median its 10-year median of 2.13. Over the past 10 years, this metric has ranged from a low of 0.55 to a high of 3.88. The Healthcare Providers & Services industry median Debt-to-EBITDA is 2.22. US Physical Therapy's value of 4.69 is 111.3% above this industry median. Based on the distribution chart, US Physical Therapy ranks #309 out of 477 companies in the Healthcare Providers & Services industry, which is below the industry midpoint. Overall, US Physical Therapy has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does US Physical Therapy's Debt-to-EBITDA compare to NUTX and PNTG?
According to the Healthcare Providers & Services industry distribution chart, US Physical Therapy ranks #309 out of 477 companies for Debt-to-EBITDA. This places US Physical Therapy in the lower half of its industry. The industry median Debt-to-EBITDA is 2.22. US Physical Therapy's value of 4.69 is 111.3% above this benchmark. Historically, US Physical Therapy's own Debt-to-EBITDA has ranged from 0.55 to 3.88 over the past decade. While the company's 10-year median is 2.13 vs. the industry median of 2.22, US Physical Therapy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Healthcare Providers & Services company?
The median Debt-to-EBITDA among Healthcare Providers & Services companies is 2.22, based on 477 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. US Physical Therapy's current Debt-to-EBITDA of 4.69 is 111.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on US Physical Therapy. For the Healthcare Providers & Services industry, the median Debt-to-EBITDA is 2.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. US Physical Therapy's current Debt-to-EBITDA is 4.69, which is 120% above median its own 10-year median of 2.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is US Physical Therapy stock overvalued right now?
Based on GuruFocus' analysis, US Physical Therapy (USPH) is currently considered Significantly Undervalued. The stock's GF Value™ is $108.22, compared to a current price of $74.38 — trading 31.3% below its estimated fair value. The current Debt-to-EBITDA is 4.69, which is 120% above median its 10-year median of 2.13 and 111.3% above the Healthcare Providers & Services industry median of 2.22. US Physical Therapy's overall GF Score™ is 82/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For US Physical Therapy (USPH), the current Debt-to-EBITDA is 4.69 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is US Physical Therapy (USPH) Overvalued in 2026?
Based on GuruFocus' analysis, US Physical Therapy stock appears to be undervalued.
The current stock price of $74.38 is trading 31.3% below its estimated GF Value™ of $108.22.
GuruFocus considers US Physical Therapy to be Significantly Undervalued.
Key valuation signals for USPH:
Debt-to-EBITDA: 4.69 (120% above median its 10-year median of 2.13)
GF Value™: $108.22 vs. price of $74.38 (31.3% below fair value)
Industry Position: 111.3% above the Healthcare Providers & Services median (#309 of 477)
No single metric tells the full story. See the USPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
US Physical Therapy Inc through its subsidiaries operate outpatient physical therapy clinics that provide pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries. The principal payment sources for the clinics' services are managed care programs, commercial health insurance, Medicare/Medicaid, workers' compensation insurance, and proceeds from personal injury cases. Its operating segment includes Physical therapy operations and Industrial injury prevention services. The company generates maximum revenue from the Physical therapy operations segment.
82GF Score
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