Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.09, read 2026-11-08
Ethical passes the values gate
Price99.49 USD
Fair value85.61
Ethical score70.0/100
Value readOvervaluedas of 6 Nov 2026
Our investment reviews on this name
2026-10-31Read Accumulation85.83+15.9% to today ✓Markdown gives way to Accumulation
2026-10-30Read Markdown86.57+14.9% to today Accumulation gives way to Markdown first Markdown read since September
2026-10-02Read Accumulation82.45+20.7% to today ✓Markdown gives way to Accumulation after a 6% rise in 2 weeks
2026-09-16Read Markdown77.75+28.0% to today Markup gives way to Markdown after a 6% slide in 4 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
U.S. Physical Therapy, Inc. holds its Markup at $99.49. The statistical read favours the sellers, held for 102 days.
As held on the ledger · 2026-11-06
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 102 days
Price at the screen
$99.49
Valuation
540.00 trailing · 29.20 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.13
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
26.18%
Below 33%
Interest-bearing debt is just 26.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
8.29%
Below 49%
Money owed to the company is 8.3% of assets, under the 49% limit.
Pass
Revenue purity
0.01%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
U.S. Physical Therapy, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 26%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-08. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Overvalued vs our fair value, as of 6 Nov 2026: it trades above our $85.61 fair value estimate, 8.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. The price runs 16.2% above the base estimate.
Where our models see it going: fair-value estimate $85.61, with a range of $85.50 to $98.45, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Recovery clinics face steady demand but thin returns
Every time an office worker twists a back or an athlete tears a ligament, they end up in one of these outpatient clinics for pre and post operative care. U.S. Physical Therapy runs a network across both physical therapy and industrial injury prevention, yet the business delivers only 8% revenue growth, a 4% profit margin and 7% ROE. With a forward multiple of 21.6 times and no opportunity rating despite a modest 14% gap to fair value, we pass.
The ethical screen clears, which rules out obvious red flags around labour or governance. Still, an unknown moat and low capital returns leave little room for outperformance versus broader healthcare peers.
Analyst targets sit higher at 93 dollars, but the modest growth profile and thin profitability point to execution risk if reimbursement rates tighten or patient volumes soften. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
USPH trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Accumulation$84.74-0.2%Entry 16
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03Accumulation$84.90-1.1%Entry 15
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 1.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02Accumulation$85.83+0.0%Entry 14
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Accumulation$85.83+0.0%Entry 13
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30Markdown · changed$86.57+1.5%Entry 11
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Accumulation$85.32-3.8%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 3.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Accumulation$88.73+3.2%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 3.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Accumulation$85.98+1.5%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 1.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94.
2026-10-14Accumulation$84.67+2.7%Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 18%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (6 analysts) rates it buy, with a mean price target of $94.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.