U.S. Physical Therapy (NYSE: USPH) lifts 2025 EBITDA and outlines hospital-driven growth
U.S. Physical Therapy (USPH) reported strong operating momentum in 2025, with adjusted EBITDA up 16.1% to $95 million, and expects 2026 adjusted EBITDA to be between $102 million and $106 million. The company achieved record clinic visit volumes despite Medicare rate cuts and saw significant growth in its injury prevention segment. USPH also announced two new long-term hospital affiliation agreements, projected to add at least $14 million to physical therapy revenue and $7.3 million to its adjusted EBITDA by 2027.
How this was made

The 30-second read
Why it matters
The company's expansion into hospital affiliations and record clinic visits suggest sustained growth, supporting bullish sentiment.
Market read
The news is relevant for traders focusing on healthcare services, with potential short to medium-term upside.
What to watch
Regulatory changes, reimbursement policies, and competitive pressures that may affect future performance.
Background
USPH reported strong 2025 financials with EBITDA growth and new hospital contracts, indicating operational momentum.
Ticker impact
The news highlights USPH's strong 2025 performance and future growth prospects, making it relevant for traders interested in healthcare and service sector stocks.
Moderate upward movement (~5-8%) over the next 1-3 months, contingent on continued growth and market conditions.
Strong financial results, new hospital contracts, and positive industry trends support an optimistic outlook. Risks include industry headwinds and potential market volatility.
Market effects
Positive impact on healthcare services and outpatient care sectors due to expansion and growth in physical therapy services.
Primarily US-based, with potential influence on regional healthcare providers and related stocks.
Limited; USPH operates mainly within the US healthcare market.
Counterpoint
Potential overestimation of growth due to optimistic projections; industry headwinds like Medicare rate cuts could impact profitability.
Key entities
- CompanyU.S. Physical Therapy
A provider of outpatient physical therapy services in the US.


