US Physicalrapy Inc (USPH)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 997,238 | 1,010,190 | 999,581 | 868,127 | 858,154 | 799,708 | 796,444 | 763,863 | 749,426 | 630,098 | 749,426 | 749,426 | 594,361 | 575,438 | 585,018 | 594,361 | 630,501 | 560,845 | 560,845 | 523,087 |
| 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 |
| Financial leverage ratio | 2.09 | 2.05 | 2.05 | 2.73 | 2.72 | 2.52 | 2.59 | 2.54 | 2.54 | 2.17 | 2.64 | 2.71 | 2.15 | 2.17 | 2.29 | 2.47 | 2.62 | 2.38 | 2.45 | 2.38 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $997,238K ÷ $476,194K
= 2.09
The financial leverage ratio of U.S. Physical Therapy, Inc. has been relatively stable over the past eight quarters, ranging from 2.05 to 2.73. This ratio indicates the extent to which the company relies on debt financing as opposed to equity. A higher financial leverage ratio suggests a higher level of debt relative to equity in the company's capital structure.
In the first quarter of 2023, the financial leverage ratio experienced a significant increase to 2.73, indicating a higher level of debt compared to equity. This spike in the ratio may suggest that the company took on additional debt during that period. Subsequently, in the second and third quarters of 2023, the ratio decreased to 2.05, indicating a lower reliance on debt financing and possibly a reduction in debt levels.
Overall, the average financial leverage ratio over the past eight quarters is around 2.42, indicating that the company has a moderate level of leverage in its capital structure. Investors and analysts should continue to monitor changes in this ratio to assess the company's debt management and financial risk levels.
Peer comparison
Dec 31, 2023