US Physicalrapy Inc (USPH)

Return on total capital

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	52,061	59,735	58,749	58,767	56,801	66,472	68,509	70,659	70,649	72,386	75,389	63,421	52,413	45,121	37,987	48,270	55,765	58,263	57,134	49,647
Long-term debt	US$ in thousands	138,991	141,496	143,460	182,681	175,831	146,690	148,889	122,128	117,587	35,265	38,821	16,571	16,596	7,509	33,685	118,602	50,361	55,292	66,316	29,516
Total stockholders’ equity	US$ in thousands	476,194	491,971	488,498	318,058	315,793	317,146	307,177	300,971	295,606	289,783	283,848	276,184	276,160	264,919	255,254	241,064	240,257	235,485	229,256	219,768
Return on total capital		8.46%	9.43%	9.30%	11.74%	11.55%	14.33%	15.02%	16.70%	17.10%	22.27%	23.36%	21.66%	17.90%	16.56%	13.15%	13.42%	19.19%	20.04%	19.33%	19.92%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $52,061K ÷ ($138,991K + $476,194K)
= 8.46%

U.S. Physical Therapy, Inc.'s return on total capital has been relatively stable over the past eight quarters, ranging from 10.78% to 16.77%. The company's return on total capital peaked in Q1 2022 at 16.77% and has slightly decreased since then. The most recent data point for Q4 2023 shows a return on total capital of 11.32%, indicating a slight decline compared to the previous quarter. Overall, the company has maintained a healthy return on total capital, suggesting efficient utilization of both debt and equity in generating profits.

Peer comparison

Dec 31, 2023

Company name

Symbol

Return on total capital

US Physicalrapy Inc

USPH

8.46%

Privia Health Group Inc

PRVA

3.68%