Life Time Group Holdings, Inc. (LTH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-269.4%

-$75.10

vs $44.33 price

Levered DCF

$53.94

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

1.8

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.54×	28.73×	38.67×	-1,286.02×	-5.74×	-9.44×	110.94×	84.52×
P/B	1.85×	1.71×	1.31×	1.09×	1.59×	2.29×	1.94×	0×
P/S	1.93×	1.7×	1.33×	1.27×	2.52×	3.58×	1.79×	1.94×
EV / EBITDA	15.59×	13.36×	15.28×	18.61×	-27.1×	-66.53×	18.33×	0×
Gross margin	47.6%	46.9%	46.6%	41.4%	36.0%	30.4%	45.2%	45.7%
Operating margin	16.1%	13.6%	10.2%	6.1%	-37.6%	-37.9%	8.9%	11.2%
Net margin	12.5%	6.0%	3.4%	-0.1%	-44.0%	-38.0%	1.6%	2.3%
Current ratio	0.63×	0.33×	0.31×	0.29×	0.32×	0.37×	0.54×	0×
Debt / equity	2.16×	1.53×	1.89×	1.9×	1.8×	2.74×	2.16×	0×
Interest coverage	0×	2.41×	1.72×	0.97×	-2.21×	-2.8×	1.3×	1.44×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.0%	6.0%	3.4%	-0.1%	-27.7%	-24.3%	1.7%	0.0%
Return on invested capital	4.4%	4.0%	2.7%	1.2%	-6.7%	-4.6%	2.2%	0.0%
Return on assets	4.3%	2.2%	1.1%	-0.0%	-9.3%	-6.0%	0.5%	0.0%
Free cash flow yield	-0.4%	1.1%	-7.8%	-16.9%	-10.5%	-10.6%	-7.8%	-7.9%
Earnings yield	6.4%	3.5%	2.6%	-0.1%	-17.4%	-10.6%	0.9%	1.2%
Enterprise value	$12.3B	$8.4B	$7.2B	$6.3B	$7B	$7.4B	$7.1B	$0
Net debt / EBITDA	8.25×	6.3×	9×	11.8×	-14.32×	-36.09×	9.59×	0×
Cash conversion cycle (days)	-34	-2	1	-5	-6	-2	8	0