US Physicalrapy Inc (USPH)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 138,991 | 175,831 | 117,587 | 16,596 | 50,361 |
| Total assets | US$ in thousands | 997,238 | 858,154 | 749,426 | 594,361 | 630,501 |
| Debt-to-assets ratio | 0.14 | 0.20 | 0.16 | 0.03 | 0.08 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $138,991K ÷ $997,238K
= 0.14
The debt-to-assets ratio for U.S. Physical Therapy, Inc. has fluctuated over the past five years, indicating varying levels of financial leverage.
At the end of 2023, the ratio stands at 0.15, showing that 15% of the company's assets are financed through debt. This represents a decrease compared to the previous year's ratio of 0.21. The decline in the ratio suggests that the company may have reduced its reliance on debt financing or increased its asset base.
Looking back further, in 2021 and 2019, the company's debt-to-assets ratios were 0.16 and 0.09, respectively. These figures indicate a moderate level of debt compared to its asset base during those years.
Notably, at the end of 2020, the company had a relatively low debt-to-assets ratio of 0.04, suggesting a conservative capital structure with a minimal level of debt relative to its total assets.
Overall, the trend in U.S. Physical Therapy, Inc.'s debt-to-assets ratio demonstrates some variability in its capital structure over the past five years, with potential implications for its financial risk and stability.
Peer comparison
Dec 31, 2023