US Physical Therapy (FRA:UPH) Scaled Net Operating Assets: 0.94 (As of Mar. 2026)


FRA:UPH US Physical Therapy Inc FRA:UPH
78 GF Score
Price €60.00
GF Value €94.13
! 5 Warning Signs
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What is US Physical Therapy Scaled Net Operating Assets?

US Physical Therapy FRA:UPH 78 Scaled Net Operating Assets is 0.94 as of Mar. 2026. GuruFocus rates FRA:UPH with a GF Score™ of 78/100 and a GF Value™ of €94.13. The stock has 5 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

US Physical Therapy's operating assets for the quarter that ended in Mar. 2026 was €1,049.8 Mil. US Physical Therapy's operating liabilities for the quarter that ended in Mar. 2026 was €83.3 Mil. US Physical Therapy's Total Assets for the quarter that ended in Dec. 2025 was €1,028.2 Mil. Therefore, US Physical Therapy's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.94.


US Physical Therapy Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for US Physical Therapy's Scaled Net Operating Assets 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.

US Physical Therapy Scaled Net Operating Assets Chart

US Physical Therapy Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.17 1.07 0.86 1.06 0.80

US Physical Therapy Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.85 0.82 0.88 0.88 0.94

FRA:UPH vs NUTX, PNTG, AMN: Scaled Net Operating Assets Comparison

For the Medical Care Facilities subindustry, US Physical Therapy's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, US Physical Therapy's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where US Physical Therapy's Scaled Net Operating Assets falls into.


FRA:UPH
78GF Score
US Physical Therapy Inc FRA:UPH
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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US Physical Therapy Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

US Physical Therapy's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(997.848-101.324)/1114.931
=0.80

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1028.225 - 30.377
=997.848

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=370.475 - 224.744 - 44.407
=101.324

US Physical Therapy's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(1049.779-83.346)/1028.225
=0.94

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1074.379 - 24.6
=1049.779

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=397.196 - 267.503 - 46.347
=83.346

* 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.

What does a Scaled Net Operating Assets of 0.94 mean?
US Physical Therapy (FRA:UPH) has a Scaled Net Operating Assets of 0.94 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on US Physical Therapy and its competitors.
Is US Physical Therapy's Scaled Net Operating Assets too high?
US Physical Therapy's current Scaled Net Operating Assets is 0.94. Overall, US Physical Therapy has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does US Physical Therapy's Scaled Net Operating Assets compare to NUTX and PNTG?
US Physical Therapy's Scaled Net Operating Assets of 0.94 can be compared against companies in the Healthcare Providers & Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Healthcare Providers & Services company?
A good Scaled Net Operating Assets depends on the Healthcare Providers & Services industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on US Physical Therapy and its competitors. US Physical Therapy's current Scaled Net Operating Assets is 0.94. 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?
US Physical Therapy (FRA:UPH) has a current Scaled Net Operating Assets of 0.94. The stock's GF Value™ is €94.13, compared to a current price of €60.00 — trading 36.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.94. US Physical Therapy's overall GF Score™ is 78/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For US Physical Therapy (FRA:UPH), the current Scaled Net Operating Assets is 0.94 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 (FRA:UPH) Overvalued in 2026?

Based on GuruFocus' analysis, US Physical Therapy stock appears to be undervalued. The current stock price of €60.00 is trading 36.3% below its estimated GF Value™ of €94.13.

Key valuation signals for FRA:UPH:

  • Scaled Net Operating Assets: 0.94
  • GF Value™: €94.13 vs. price of €60.00 (36.3% below fair value)
  • GF Score™: 78/100 with 5 warning signs

No single metric tells the full story. See the FRA:UPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


US Physical Therapy Business Description

Other Exchanges USPH:USA
Address 1300 West Sam Houston Parkway South, Suite 300, Houston, TX, USA, 77042
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.
78GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€60.00
Price
€94.13
GF Value