U S PHYSICAL THERAPY INC /NV (USPH)

Services-Health Services

Latest Price

$81.75

TTM P/E

480.88

Normalized P/E

49.25

Div Yield

2.23%

Book Value

29.77

P/B Ratio

2.75

Valuation metrics

EPS: $1.42

Book value / share: $31.40

Formula: √(22.5 × EPS × BVPS)

Graham Number

$31.67

61% downside

Norm. op. income: $63M (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$24.83

70% downside

Base FCF: $66M (median of recent 5yr)

Growth: -8%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$20.64

75% downside

EPS: $1.42

Target P/E: 49×

Formula: EPS × P/E

P/E Fair Value

$69.58

15% downside

94.8% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	2.26M	$155.0M	15.02%	+55.7K	2026-06-30
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	846.7K	$58.0M	5.62%	-219.2K	2026-06-30
Copeland Capital Management, LLC	841.5K	$57.0M	5.58%	+4.7K	2026-06-30
STATE STREET CORP	707.2K	$48.0M	4.69%	+58.8K	2026-06-30
MORGAN STANLEY	698.7K	$47.0M	4.64%	-303.8K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	674.2K	$46.0M	4.47%	+10.1K	2026-06-30
NEUBERGER BERMAN GROUP LLC	598.9K	$41.0M	3.97%	+589.6K	2026-06-30
AMERICAN CENTURY COMPANIES INC	558.8K	$38.0M	3.71%	+222.4K	2026-06-30
SOUTHERNSUN ASSET MANAGEMENT, LLC	527.8K	$36.0M	3.50%	+87.9K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	513.9K	$35.0M	3.41%	+6.5K	2026-06-30