Is U.S. Physical Therapy (USPH) stock Halal?

U.S. Physical Therapy is a leading operator of outpatient physical therapy clinics in the United States. The primary function of this company is to provide rehabilitation services to individuals recovering from various physical ailments, such as orthopedic issues, sports injuries, and postoperative conditions. The company operates a network of strategically located clinics, emphasizing patient-centered care and evidence-based treatment practices. For Muslim investors, though, the most pressing question is simpler: is U.S. Physical Therapy a Halal investment?

Is U.S. Physical Therapy Shariah compliant?

Yes. In the October 2026 screening U.S. Physical Therapy (USPH) passes AAOIFI Shariah Standard No. 21: the business activity screen and every financial ratio screen hold. Medicines and medical devices are permissible, and healthcare companies like U.S. Physical Therapy usually clear the activity screen comfortably. What AAOIFI Shariah Standard No. 21 watches is the financing behind the pipeline: drug development is expensive, and the 30% interest bearing debt cap decides the verdict more often than the science does.

Does U.S. Physical Therapy pass the business activity test?

Yes. In the October 2026 screening U.S. Physical Therapy holds an overall PASS, which a stock only earns when its core business clears the activity screen. Treating illness is permissible work; the scrutiny belongs to the financing behind it.

Is U.S. Physical Therapy's income Halal?

Yes, within AAOIFI's tolerance. U.S. Physical Therapy's income from non-permissible sources stays below 5% of revenue in the October 2026 screening, and the small impure portion is handled through purification: the factor of 99.99% tells holders of USPH what share of each dividend to keep and what remainder to donate to charity. On a dividend yield of around 2.13%, the purification amount is modest but real.

Does U.S. Physical Therapy meet AAOIFI's debt and investment ratio requirements?

Yes. Both caps hold this month: interest bearing investments and interest bearing debt each stay below 30% of market capitalisation, measured against a market capitalisation of $1.28B (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has USPH re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for U.S. Physical Therapy?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read What is Halal Investing? A Guide to Halal Stocks and Islamic Finance