Is U.S. Physical Therapy, Inc. overvalued or undervalued?

As of 26 September 2025, the valuation grade for U.S. Physical Therapy, Inc. has moved from expensive to fair. The company appears fairly valued based on its current metrics. Key ratios include a P/E ratio of 28, an EV to EBITDA of 17.32, and a Price to Book Value of 2.70. Comparatively, The Ensign Group, Inc. has a higher P/E ratio of 32.46 and an EV to EBITDA of 21.10, indicating a more attractive valuation, while Option Care Health, Inc. shows a lower P/E of 23.61 and an EV to EBITDA of 14.37, aligning with a fair valuation.
In terms of stock performance, U.S. Physical Therapy has underperformed against the S&P 500 over the one-year and five-year periods, returning -0.93% and -0.70% respectively, while the S&P 500 returned 15.64% and 101.42%. This underperformance reinforces the notion that the stock is fairly valued, as it has not kept pace with broader market gains.