US Physical TherapyUSPH +4.27%77 Piotroski F-Score is 4 as of Jun. 24, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates USPH with a GF Score™ of 77/100 and a GF Value™ of $107.60 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 651 Healthcare Providers & Services companies, US Physical Therapy ranks worse than 67.43% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
US Physical Therapy has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for US Physical Therapy's Piotroski F-Score or its related term are showing as below:
USPH'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 6
Current: 4
During the past 13 years, the highest Piotroski F-Score of US Physical Therapy was 6. The lowest was 3. And the median was 5.
US Physical Therapy (NYSE:USPH) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
US Physical Therapy Piotroski F-Score Related Terms
US Physical Therapy Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for US Physical Therapy's Piotroski F-Score 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 INNV, NUTX, AMN: Piotroski F-Score Comparison
For the Medical Care Facilities subindustry, US Physical Therapy's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, US Physical Therapy's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where US Physical Therapy's Piotroski F-Score 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.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
US Physical Therapy's current Net Income (TTM) was -2.1.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
US Physical Therapy's return on assets of this year was -0.00175555. US Physical Therapy's return on assets of last year was 0.03210106.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
US Physical Therapy's gearing of this year was 0.25764027. US Physical Therapy's gearing of last year was 0.23808253.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
US Physical Therapy's current ratio of this year was 1.1859452. US Physical Therapy's current ratio of last year was 1.17414274.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
US Physical Therapy's number of shares in issue this year was 15.167. US Physical Therapy's number of shares in issue last year was 15.132.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
US Physical Therapy's gross margin of this year was 0.19029828. US Physical Therapy's gross margin of last year was 0.18097584.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
US Physical Therapy's asset turnover of this year was 0.67432124. US Physical Therapy's asset turnover of last year was 0.6875929.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
US Physical Therapy has an F-score of 4 indicating the company's financial situation is typical for a stable company.
US Physical Therapy (USPH) has a Piotroski F-Score of 4 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on US Physical Therapy and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, US Physical Therapy's Piotroski F-Score has ranged from 3.00 to 6.00. According to the industry distribution chart, US Physical Therapy ranks #439 out of 651 companies in the Healthcare Providers & Services industry, placing it in the top 67.4%.
Is US Physical Therapy's Piotroski F-Score too high?
US Physical Therapy's current Piotroski F-Score of 4 is 20% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 6.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. US Physical Therapy's value of 4 is 20% below this industry median. Based on the distribution chart, US Physical Therapy ranks #439 out of 651 companies in the Healthcare Providers & Services industry, which is below the industry midpoint. Overall, US Physical Therapy has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does US Physical Therapy's Piotroski F-Score compare to INNV and NUTX?
According to the Healthcare Providers & Services industry distribution chart, US Physical Therapy ranks #439 out of 651 companies for Piotroski F-Score. This places US Physical Therapy in the lower half of its industry. The industry median Piotroski F-Score is 5.00. US Physical Therapy's value of 4 is 20% below this benchmark. Historically, US Physical Therapy's own Piotroski F-Score has ranged from 3.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, US Physical Therapy has consistently been below 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 Piotroski F-Score for a Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 651 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. US Physical Therapy's current Piotroski F-Score of 4 is 20% below 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on US Physical Therapy and its competitors. For the Healthcare Providers & Services industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. US Physical Therapy's current Piotroski F-Score is 4, which is 20% below median its own 10-year median of 5.00. 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 $107.60, compared to a current price of $66.21 — trading 38.5% below its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 20% below the Healthcare Providers & Services industry median of 5.00. US Physical Therapy's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For US Physical Therapy (USPH), the current Piotroski F-Score is 4 as of Jun. 24, 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 $66.21 is trading 38.5% below its estimated GF Value™ of $107.60.
GuruFocus considers US Physical Therapy to be Significantly Undervalued.
Key valuation signals for USPH:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: $107.60 vs. price of $66.21 (38.5% below fair value)
Industry Position: 20% below the Healthcare Providers & Services median (#439 of 651)
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.
77GF Score
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