US Physicalrapy Inc (USPH)
Debt-to-equity ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Debt-to-equity ratio | 0.29 | 0.29 | 0.29 | 0.57 | 0.56 | 0.46 | 0.48 | 0.41 | 0.40 | 0.12 | 0.14 | 0.06 | 0.06 | 0.03 | 0.13 | 0.49 | 0.21 | 0.23 | 0.29 | 0.13 |
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 shown some fluctuations over the past eight quarters. In Q1 2022, the ratio was notably higher at 0.60, indicating a higher level of debt relative to equity. Subsequently, the ratio decreased and ranged between 0.30 to 0.31 in Q2 and Q3 2023, implying a more balanced mix of debt and equity financing.
Generally, a decreasing trend in the debt-to-equity ratio suggests that the company is relying less on debt to finance its operations compared to equity. This can be viewed positively by investors and creditors as lower debt levels can imply lower financial risk and a stronger financial position.
It is essential to monitor the trend of the debt-to-equity ratio over time to assess the company's capital structure and financial health accurately. It is advisable for U.S. Physical Therapy, Inc. to maintain a prudent balance between debt and equity financing to support its growth and profitability in a sustainable manner.
Peer comparison
Dec 31, 2023