US Physicalrapy Inc (USPH)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 476,194 | 315,793 | 295,606 | 276,160 | 240,257 |
| Debt-to-equity ratio | 0.29 | 0.56 | 0.40 | 0.06 | 0.21 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $138,991K ÷ $476,194K
= 0.29
The debt-to-equity ratio of U.S. Physical Therapy, Inc. has fluctuated over the past five years. In 2023, the ratio decreased to 0.31 from 0.58 in 2022, indicating a reduction in reliance on debt compared to shareholder equity. This could suggest improved financial stability and reduced financial risk. However, the ratio remains higher than in 2020 and 2019, where it was 0.08 and 0.21, respectively.
The downward trend from 2022 to 2023 may signal a strategic shift towards a more conservative capital structure, possibly due to a focus on deleveraging or efficient management of debt levels. Overall, the decreasing trend in the debt-to-equity ratio could indicate a healthier balance between debt and equity financing, enhancing the company's financial position and potentially improving its ability to weather economic uncertainties.
Peer comparison
Dec 31, 2023