US Physicalrapy Inc (USPH)

Solvency ratios

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
Debt-to-assets ratio 0.14 0.14 0.14 0.21 0.20 0.18 0.19 0.16 0.16 0.06 0.05 0.02 0.03 0.01 0.06 0.20 0.08 0.10 0.12 0.06
Debt-to-capital ratio 0.23 0.22 0.23 0.36 0.36 0.32 0.33 0.29 0.28 0.11 0.12 0.06 0.06 0.03 0.12 0.33 0.17 0.19 0.22 0.12
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
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

The solvency ratios of U.S. Physical Therapy, Inc. indicate the company's ability to meet its long-term financial obligations. Looking at the debt-to-assets ratio, it has been relatively stable at around 0.15 for the most recent quarters, indicating that only 15% of the company's assets are financed by debt.

The debt-to-capital ratio, reflecting the proportion of debt in the company's capital structure, has also shown stability around 0.24 in the recent quarters. This implies that 24% of the company's capital is derived from debt sources.

The debt-to-equity ratio, which measures the extent to which a company is financed by debt relative to shareholders' equity, has shown some fluctuations but has generally remained at moderate levels. As of Q4 2023, the ratio stands at 0.31, indicating that the company has 31 cents of debt for every dollar of equity.

The financial leverage ratio, which shows the extent to which the company uses debt to finance its assets, has been above 2 for the recent quarters, indicating that the company relies on debt financing to support its operations.

Overall, the solvency ratios of U.S. Physical Therapy, Inc. suggest a prudent approach to managing debt levels and indicate a relatively stable financial position in terms of long-term debt obligations.

Coverage ratios

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
Interest coverage 5.60 6.27 6.22 7.54 9.83 17.82 34.50 57.17 75.00 75.88 72.70 43.65 32.08 22.70 17.31 22.47 26.82 30.88 29.93 26.88

U.S. Physical Therapy, Inc.'s interest coverage ratio has fluctuated over the past eight quarters. The interest coverage ratio measures the company's ability to pay interest on its outstanding debt using its earnings before interest and taxes (EBIT).

In Q4 2023, the interest coverage ratio was 12.75, indicating that the company's EBIT was 12.75 times higher than its interest expense for that quarter. This suggests a strong ability to cover interest obligations. However, the ratio decreased in Q3 and Q2 2023 to 8.89 and 7.30, respectively, which may indicate a slight weakening in the company's ability to cover interest payments during those periods.

Looking back further, the interest coverage ratio in Q1 2023 was 8.85, showing a recovery from the decrease in the previous quarter. The trend continues with a higher interest coverage ratio of 11.61 in Q4 2022 and even higher ratios in Q3 and Q2 2022 at 18.11 and 34.90, respectively. The highest interest coverage ratio was recorded in Q1 2022 at 57.53, indicating a significant ability to cover interest payments.

Overall, U.S. Physical Therapy, Inc. has generally maintained a healthy interest coverage ratio over the past eight quarters, with occasional fluctuations. However, it is important for the company to closely monitor this ratio to ensure it can continue to meet its interest obligations comfortably in the future.