U.S. Physical Therapy Forms 10-Year Alliance with NYU Langone Health
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 02 2026
0mins
Should l Buy USPH?
U.S. Physical Therapy announced a 10-year strategic alliance between its subsidiary partner, Metro Physical & Aquatic Therapy, and NYU Langone Health. NYU Langone and Metro Physical Therapy will work together in Long Island and the New York metropolitan area to deliver physical therapy care to patients throughout the region. Through this agreement, Metro Physical Therapy's existing 60 outpatient physical therapy clinics will become a part of NYU Langone's clinical services network. It is anticipated that this alliance will become operational commencing within the next few months.
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Analyst Views on USPH
Wall Street analysts forecast USPH stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 82.960
Low
100.00
Averages
101.50
High
103.00
Current: 82.960
Low
100.00
Averages
101.50
High
103.00
About USPH
U.S. Physical Therapy, Inc. is an operator of outpatient physical therapy clinics and provider of industrial injury prevention services. It owns and/or manages 774 outpatient physical therapy clinics in 44 states. It operates through the Physical Therapy Operations and Industrial Injury Prevention Services segments. The Physical Therapy Operations segment consists of physical therapy and occupational therapy clinics that provide pre and post operative care and treatment for orthopedic related disorders, sports-related injuries, preventive care, rehabilitation of injured workers and neurological injuries. The Industrial Injury Prevention Services segment includes onsite services for clients’ employees, including injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments. The majority of these services are contracted with and paid for directly by employers.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

- Strong Financial Performance: For the year ending 2025, adjusted EBITDA increased by $13.2 million, a 16.2% improvement, and net revenue rose by 16.3%, demonstrating significant financial progress despite ongoing Medicare rate reductions.
- Acquisitions and Strategic Partnerships: The company has made several acquisitions in the Pacific Northwest and New York City, with hospital partnerships expected to contribute at least $14 million to EBITDA by 2027, further strengthening its market position.
- 2026 Outlook: Management expects adjusted EBITDA for 2026 to be in the range of $102 million to $106 million, including $2.5 million from Medicare revenue increases, reflecting confidence in future growth.
- Operational Efficiency Gains: Average visits per clinic per day reached 32.7 in Q4, a record high for the company, with total patient visits growing 11.2% year-over-year, indicating significant improvements in customer service and operational efficiency.
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- Oversold Status: U.S. Physical Therapy, Inc. (USPH) has an RSI of 27.8, indicating it has entered oversold territory below the 30 threshold, suggesting that recent selling pressure may be exhausting, thus presenting potential buying opportunities for investors.
- Dividend Yield: The company's recent annualized dividend of $1.84 per share translates to an annual yield of 2.25% based on the current share price of $81.68, making it attractive for dividend-seeking investors.
- Market Comparison: Compared to the average RSI of 54.2 for dividend stocks covered by Dividend Channel, USPH's significantly lower RSI indicates that its stock price may be undervalued, potentially drawing more investor interest.
- Investor Strategy: While dividends are not always predictable, examining USPH's dividend history can assist investors in assessing the likelihood of continued dividend payments, enabling more informed investment decisions.
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- Quarterly Dividend Increase: U.S. Physical Therapy has declared a quarterly dividend of $0.46 per share, marking a 2.2% increase from the previous $0.45, reflecting the company's ongoing improvement in cash flow stability and profitability, which boosts investor confidence.
- Positive Earnings Outlook: The company exceeded top-line estimates in its earnings report and provided a favorable outlook for FY26, indicating strong business growth potential that is likely to enhance shareholder returns and market recognition.
- Strategic Acquisition: U.S. Physical Therapy acquired an industrial injury prevention business for $15.1 million, aiming to expand its service offerings and market share, thereby strengthening its competitive position in the healthcare sector.
- Shareholder Return Commitment: The dividend will be payable on April 10, with a record date of March 13, demonstrating the company's commitment to consistently rewarding shareholders and enhancing shareholder value.
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- Significant Revenue Growth: U.S. Physical Therapy reported Q4 2025 revenue of $202.73 million, a 12.3% year-over-year increase that exceeded expectations by $2.63 million, demonstrating strong market performance and reinforcing its industry position.
- Record Patient Visits: Total patient visits reached 1,593,336 in Q4 2025, an 11.2% increase from the previous year, with an average of 32.7 visits per clinic per day, marking a record high for the fourth quarter and indicating sustained demand for services.
- EBITDA Increase: The company achieved a non-GAAP adjusted EBITDA of $24.8 million for Q4 2025, up $3 million or 13.5% from Q4 2024, reflecting successful cost control and operational efficiency improvements.
- Optimistic Future Guidance: Management expects 2026 adjusted EBITDA to range between $102 million and $106 million, including an estimated $2.5 million in incremental revenue from a Medicare rate increase, showcasing confidence in future growth, particularly with upcoming strategic hospital alliances.
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- Significant Revenue Growth: U.S. Physical Therapy reported net revenue of $781 million for 2025, a 16.3% increase from 2024, indicating strong performance in the physical therapy market that is expected to enhance market share and profitability.
- Adjusted EBITDA Improvement: The company achieved an adjusted EBITDA of $95 million in 2025, up 13.2% from 2024, reflecting enhanced operational efficiency and cost control, which will support future investments and expansion.
- Increase in Patient Visits: In Q4 2025, patient visits reached 1.593 million, an 11.2% increase year-over-year, demonstrating effective responses to customer service and market demand, further solidifying its position in the industry.
- Strategic Acquisitions and Partnerships: The company made several acquisitions and established long-term partnerships with hospital systems in early 2026, expected to contribute at least $700,000 to future revenue and EBITDA, showcasing its proactive strategy in expanding business and enhancing service capabilities.
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