USPH
U.S. Physical Therapy, Inc.
Medical - Care Facilities
Market Cap$1.12B
5Y Perf.-0.7%
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Stock Comparison
USPH vs NHC
Revenue, margins, valuation, and 5-year total return — side by side.
NHC
National HealthCare Corporation
Medical - Care Facilities
Market Cap$2.63B
5Y Perf.+152.6%
USPH vs NHC — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | USPH | NHC |
|---|---|---|
| Industry | Medical - Care Facilities | Medical - Care Facilities |
| Market Cap | $1.12B | $2.63B |
| Revenue (TTM) | $695M | $1.50B |
| Net Income (TTM) | $11M | $101M |
| Gross Margin | 22.0% | 38.5% |
| Operating Margin | 12.2% | 8.1% |
| Forward P/E | 25.7x | 21.3x |
| Total Debt | $426M | $87M |
| Cash & Equiv. | $36M | — |
USPH vs NHC — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
USPH
NHC
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| U.S. Physical Thera… (USPH) | 100 | 99.3 | -0.7% |
| National HealthCare… (NHC) | 100 | 252.6 | +152.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: USPH vs NHC
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: NHC leads in 5 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. U.S. Physical Therapy, Inc. is the stronger pick specifically for growth and revenue expansion and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
USPH
U.S. Physical Therapy, Inc.
The Growth Play
USPH is the clearest fit if your priority is growth exposure.
- Rev growth 16.3%, EPS growth -22.8%, 3Y rev CAGR 12.2%
- 16.3% revenue growth vs NHC's 13.2%
- 2.4% yield, 5-year raise streak, vs NHC's 1.5%
Best for: growth exposure
NHC
National HealthCare Corporation
The Income Pick
NHC carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 12 yrs, beta 0.60, yield 1.5%
- 195.8% 10Y total return vs USPH's 52.5%
- Lower volatility, beta 0.60, Low D/E 8.1%
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | USPH | 16.3% revenue growth vs NHC's 13.2% |
| Value | NHC | Lower P/E (21.3x vs 25.7x) |
| Quality / Margins | NHC | 6.7% margin vs USPH's 1.5% |
| Stability / Safety | NHC | Beta 0.60 vs USPH's 0.93, lower leverage |
| Dividends | USPH | 2.4% yield, 5-year raise streak, vs NHC's 1.5% |
| Momentum (1Y) | NHC | +80.9% vs USPH's +5.4% |
| Efficiency (ROA) | NHC | 6.4% ROA vs USPH's 0.9%, ROIC 8.4% vs 5.6% |
USPH vs NHC — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
USPH vs NHC — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLNHCLAGGINGUSPH
USPHU.S. Physical Therapy…
0leads
NHCNational HealthCare C…
4leads
6 Total Categories
CATEGORYLEADERvs USPHMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
NHC5/6
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
NHC7/8
Total Returns1Y, 3Y, 5Y total returns with dividends
NHC6/6
Risk & VolatilityBeta, volatility, and downside exposure
NHC2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
NHC leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NHC is the larger business by revenue, generating $1.5B annually — 2.2x USPH's $695M. NHC is the more profitable business, keeping 6.7% of every revenue dollar as net income compared to USPH's 1.5%. On growth, NHC holds the edge at +12.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | USPHU.S. Physical The… | NHCNational HealthCa… |
|---|---|---|
| RevenueTrailing 12 months | $695M | $1.5B |
| EBITDAEarnings before interest/tax | $107M | $166M |
| Net IncomeAfter-tax profit | $11M | $101M |
| Free Cash FlowCash after capex | $67M | $147M |
| Gross MarginGross profit ÷ Revenue | +22.0% | +38.5% |
| Operating MarginEBIT ÷ Revenue | +12.2% | +8.1% |
| Net MarginNet income ÷ Revenue | +1.5% | +6.7% |
| FCF MarginFCF ÷ Revenue | +9.6% | +9.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | +7.7% | +12.5% |
| EPS Growth (YoY)Latest quarter vs prior year | -115.0% | -8.4% |
NHC leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
Evenly matched — USPH and NHC each lead in 3 of 6 comparable metrics.
Valuation Metrics
At 22.1x trailing earnings, NHC trades at a 57% valuation discount to USPH's 51.8x P/E. On an enterprise value basis, USPH's 14.7x EV/EBITDA is more attractive than NHC's 15.7x.
| Metric | USPHU.S. Physical The… | NHCNational HealthCa… |
|---|---|---|
| Market CapShares × price | $1.1B | $2.6B |
| Enterprise ValueMkt cap + debt − cash | $1.5B | $2.7B |
| Trailing P/EPrice ÷ TTM EPS | 51.84x | 22.09x |
| Forward P/EPrice ÷ next-FY EPS est. | 25.74x | 21.26x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.96x |
| EV / EBITDAEnterprise value multiple | 14.68x | 15.67x |
| Price / SalesMarket cap ÷ Revenue | 1.43x | 1.79x |
| Price / BookPrice ÷ Book value/share | 1.45x | 2.47x |
| Price / FCFMarket cap ÷ FCF | 18.35x | 17.68x |
Evenly matched — USPH and NHC each lead in 3 of 6 comparable metrics.
Profitability & Efficiency
NHC leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
NHC delivers a 9.6% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $1 for USPH. NHC carries lower financial leverage with a 0.08x debt-to-equity ratio, signaling a more conservative balance sheet compared to USPH's 0.55x. On the Piotroski fundamental quality scale (0–9), USPH scores 5/9 vs NHC's 2/9, reflecting solid financial health.
| Metric | USPHU.S. Physical The… | NHCNational HealthCa… |
|---|---|---|
| ROE (TTM)Return on equity | +1.4% | +9.6% |
| ROA (TTM)Return on assets | +0.9% | +6.4% |
| ROICReturn on invested capital | +5.6% | +8.4% |
| ROCEReturn on capital employed | +7.6% | — |
| Piotroski ScoreFundamental quality 0–9 | 5 | 2 |
| Debt / EquityFinancial leverage | 0.55x | 0.08x |
| Net DebtTotal debt minus cash | $390M | $87M |
| Cash & Equiv.Liquid assets | $36M | — |
| Total DebtShort + long-term debt | $426M | $87M |
| Interest CoverageEBIT ÷ Interest expense | 15.42x | 24.41x |
NHC leads this category, winning 7 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
NHC leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NHC five years ago would be worth $25,292 today (with dividends reinvested), compared to $7,031 for USPH. Over the past 12 months, NHC leads with a +80.9% total return vs USPH's +5.4%. The 3-year compound annual growth rate (CAGR) favors NHC at 46.0% vs USPH's -11.6% — a key indicator of consistent wealth creation.
| Metric | USPHU.S. Physical The… | NHCNational HealthCa… |
|---|---|---|
| YTD ReturnYear-to-date | -6.1% | +30.4% |
| 1-Year ReturnPast 12 months | +5.4% | +80.9% |
| 3-Year ReturnCumulative with dividends | -30.9% | +211.1% |
| 5-Year ReturnCumulative with dividends | -29.7% | +152.9% |
| 10-Year ReturnCumulative with dividends | +52.5% | +195.8% |
| CAGR (3Y)Annualised 3-year return | -11.6% | +46.0% |
NHC leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
NHC leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
NHC is the less volatile stock with a 0.60 beta — it tends to amplify market swings less than USPH's 0.93 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NHC currently trades 92.0% from its 52-week high vs USPH's 78.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | USPHU.S. Physical The… | NHCNational HealthCa… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.93x | 0.60x |
| 52-Week HighHighest price in past year | $93.50 | $184.08 |
| 52-Week LowLowest price in past year | $66.67 | $93.54 |
| % of 52W HighCurrent price vs 52-week peak | +78.7% | +92.0% |
| RSI (14)Momentum oscillator 0–100 | 36.2 | 48.4 |
| Avg Volume (50D)Average daily shares traded | 164K | 117K |
NHC leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — USPH and NHC each lead in 1 of 2 comparable metrics.
Analyst Outlook
For income investors, USPH offers the higher dividend yield at 2.45% vs NHC's 1.46%.
| Metric | USPHU.S. Physical The… | NHCNational HealthCa… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | — |
| Price TargetConsensus 12-month target | $102.00 | — |
| # AnalystsCovering analysts | 12 | — |
| Dividend YieldAnnual dividend ÷ price | +2.4% | +1.5% |
| Dividend StreakConsecutive years of raises | 5 | 12 |
| Dividend / ShareAnnual DPS | $1.80 | $2.47 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.5% | +0.6% |
Evenly matched — USPH and NHC each lead in 1 of 2 comparable metrics.
Key Takeaway
NHC leads in 4 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 2 categories are tied.
Best OverallNational HealthCare Corpora… (NHC)Leads 4 of 6 categories
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USPH vs NHC: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is USPH or NHC a better buy right now?
For growth investors, U.
S. Physical Therapy, Inc. (USPH) is the stronger pick with 16. 3% revenue growth year-over-year, versus 13. 2% for National HealthCare Corporation (NHC). National HealthCare Corporation (NHC) offers the better valuation at 22. 1x trailing P/E (21. 3x forward), making it the more compelling value choice. Analysts rate U. S. Physical Therapy, Inc. (USPH) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — USPH or NHC?
On trailing P/E, National HealthCare Corporation (NHC) is the cheapest at 22.
1x versus U. S. Physical Therapy, Inc. at 51. 8x. On forward P/E, National HealthCare Corporation is actually cheaper at 21. 3x.
03Which is the better long-term investment — USPH or NHC?
Over the past 5 years, National HealthCare Corporation (NHC) delivered a total return of +152.
9%, compared to -29. 7% for U. S. Physical Therapy, Inc. (USPH). Over 10 years, the gap is even starker: NHC returned +195. 8% versus USPH's +52. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — USPH or NHC?
By beta (market sensitivity over 5 years), National HealthCare Corporation (NHC) is the lower-risk stock at 0.
60β versus U. S. Physical Therapy, Inc. 's 0. 93β — meaning USPH is approximately 56% more volatile than NHC relative to the S&P 500. On balance sheet safety, National HealthCare Corporation (NHC) carries a lower debt/equity ratio of 8% versus 55% for U. S. Physical Therapy, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — USPH or NHC?
By revenue growth (latest reported year), U.
S. Physical Therapy, Inc. (USPH) is pulling ahead at 16. 3% versus 13. 2% for National HealthCare Corporation (NHC). On earnings-per-share growth, the picture is similar: National HealthCare Corporation grew EPS 17. 5% year-over-year, compared to -22. 8% for U. S. Physical Therapy, Inc.. Over a 3-year CAGR, USPH leads at 12. 2% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — USPH or NHC?
National HealthCare Corporation (NHC) is the more profitable company, earning 8.
2% net margin versus 1. 9% for U. S. Physical Therapy, Inc. — meaning it keeps 8. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: USPH leads at 10. 3% versus 8. 7% for NHC. At the gross margin level — before operating expenses — NHC leads at 37. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is USPH or NHC more undervalued right now?
On forward earnings alone, National HealthCare Corporation (NHC) trades at 21.
3x forward P/E versus 25. 7x for U. S. Physical Therapy, Inc. — 4. 5x cheaper on a one-year earnings basis.
08Which pays a better dividend — USPH or NHC?
All stocks in this comparison pay dividends.
U. S. Physical Therapy, Inc. (USPH) offers the highest yield at 2. 4%, versus 1. 5% for National HealthCare Corporation (NHC).
09Is USPH or NHC better for a retirement portfolio?
For long-horizon retirement investors, National HealthCare Corporation (NHC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
60), 1. 5% yield, +195. 8% 10Y return). Both have compounded well over 10 years (NHC: +195. 8%, USPH: +52. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between USPH and NHC?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: USPH is a small-cap high-growth stock; NHC is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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(USPH: 7.7% · NHC: 12.5%)P/E Ratio<
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