LTH NYSE Leisure Facilities Financials FY2019βFY2025
Life Time Group had $3.0B of revenue in fiscal 2025, up 14.3% on the year before. Over five years, revenue changed +25.9% a year on average.
Hi! I read Life Time Groupβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+14.3%
Yes. Sales grew 14.3% last year.
Does it make a profit?
12.5%
Yes. It keeps 12.5% of every sale as profit.
Does profit turn into cash?
β0.7%
No. It spent more cash than it brought in.
Is debt under control?
1.7x
Keep an eye on it. Repaying its debt would take 1.7 years of operating profit.
How healthy are the accounts?
8 / 9
Solid. It passes 8 of 9 health tests.
How is the share priced?
23.8x
One share costs 23.8 times its yearly profit per share. Typical for its sector: 17.7x.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Life Time Group had $3.0B of revenue in fiscal 2025, up 14.3% on the year before. Over five years, revenue changed +25.9% a year on average. Its operating margin was 16.1%, up 2.4Β pts: of every 100 in sales, about 16 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Life Time Group made $374M of net profit in fiscal 2025. From fiscal 2019 to 2025, diluted EPS grew 40.0% a year.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$21.0M in fiscal 2025, β0.7% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Life Time Group returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 6.8%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $2.3B of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$2.3B
16 insiders
Of sales under plans
0%
$11.3M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 12, 2026 | Erik WeaverEVP & Chief Financial Officer | Sold plan | 5,787 | $39.77 | $0.2M | Form 4 |
| Sep 11, 2026 | Ritadhwaja Jebens SinghEVP & Chief Digital Officer | Sold | 154,912 | $42.00 | $6.5M | Form 4 |
| Sep 9, 2026 | Ritadhwaja Jebens SinghEVP & Chief Digital Officer | Sold | 18,729 | $42.04 | $0.8M | Form 4 |
| Sep 3, 2026 | Ritadhwaja Jebens SinghEVP & Chief Digital Officer | Sold | 5,666 | $44.00 | $0.2M | Form 4 |
| Aug 26, 2026 | John Kristofer GalashanDirector | Sold | 2,879,154 | $43.80 | $126M | Form 4 |
| Aug 26, 2026 | John G DanhaklDirector | Sold | 2,879,154 | $43.80 | $126M | Form 4 |
| Aug 26, 2026 | Leonard Green & Partners, L.P.Director | Sold | 2,879,154 | $43.80 | $126M | Form 4 |
| Aug 10, 2026 | John G DanhaklDirector | Sold | 5,119,099 | $43.16 | $221M | Form 4 |
| Aug 10, 2026 | Green Equity Investors Side VI, L.P.Director | Sold | 5,119,099 | $43.16 | $221M | Form 4 |
| Aug 10, 2026 | John Kristofer GalashanDirector | Sold | 5,119,099 | $43.16 | $221M | Form 4 |
| Jul 31, 2026 | Erik WeaverEVP & Chief Financial Officer | Sold | 47,748 | $44.80 | $2.1M | Form 4 |
| Jul 31, 2026 | Bahram AkradiFounder & CEO, Director | Sold | 438,257 | $45.03 | $19.7M | Form 4 |
| Jul 31, 2026 | Parham JavaheriEVP &President Club Operations | Sold | 63,203 | $45.09 | $2.8M | Form 4 |
| Jul 31, 2026 | Eric J BussEVP & Chief Admin. Officer | Sold | 479,240 | $44.97 | $21.6M | Form 4 |
| Jun 24, 2026 | Ritadhwaja Jebens SinghEVP & Chief Digital Officer | Sold plan | 67,751 | $38.65 | $2.6M | Form 4 |
| Jun 10, 2026 | Jimena AlmendaresDirector | Sold | 40,589 | $33.59 | $1.4M | Form 4 |
| Jun 4, 2026 | John Kristofer GalashanDirector | Sold | 2,208,580 | $28.60 | $63.2M | Form 4 |
| Jun 4, 2026 | Leonard Green & Partners, L.P.Director | Sold | 2,208,580 | $28.60 | $63.2M | Form 4 |
| Jun 4, 2026 | John G DanhaklDirector | Sold | 2,208,580 | $28.60 | $63.2M | Form 4 |
| Jun 4, 2026 | Partners Group Access 83 PF LPMember of 10% Owner Group | Sold | 329,921 | $28.60 | $9.4M | Form 4 |
| May 21, 2026 | John G DanhaklDirector | Sold | 3,006,100 | $32.51 | $97.7M | Form 4 |
| May 21, 2026 | GEI Capital VI, LLCDirector | Sold | 3,006,100 | $32.51 | $97.7M | Form 4 |
| May 21, 2026 | John Kristofer GalashanDirector | Sold | 3,006,100 | $32.51 | $97.7M | Form 4 |
| May 21, 2026 | Partners Group Private Equity Fund, LLCMember of 10% Owner Group | Sold | 449,960 | $32.51 | $14.6M | Form 4 |
| May 8, 2026 | Parham JavaheriEVP &President Club Operations | Sold | 62,900 | $31.80 | $2.0M | Form 4 |
| May 7, 2026 | Partners Group Private Equity Fund, LLCMember of 10% Owner Group | Sold | 747,178 | $31.46 | $23.5M | Form 4 |
| May 7, 2026 | Stuart G. LasherDirector | Sold | 50,000 | $32.42 | $1.6M | Form 4 |
| May 7, 2026 | John Kristofer GalashanDirector | Sold | 4,991,749 | $31.46 | $157M | Form 4 |
| May 7, 2026 | Eric J BussEVP & Chief Admin. Officer | Sold | 192,217 | $32.02 | $6.2M | Form 4 |
| May 7, 2026 | John G DanhaklDirector | Sold | 4,991,749 | $31.46 | $157M | Form 4 |
| May 7, 2026 | Green Equity Investors Side VI, L.P.Director, 10% owner | Sold | 4,991,749 | $31.46 | $157M | Form 4 |
| May 7, 2026 | Erik WeaverEVP & Chief Financial Officer | Sold | 22,000 | $32.69 | $0.7M | Form 4 |
| May 6, 2026 | Ritadhwaja Jebens SinghEVP & Chief Digital Officer | Sold plan | 40,202 | $29.95 | $1.2M | Form 4 |
| May 5, 2026 | LGP Associates VI-B LLCDirector, 10% owner | Sold | 2,493,083 | $28.60 | $71.3M | Form 4 |
| May 5, 2026 | Partners Group Series Access II, LLCMember of 10% Owner Group | Sold | 542,119 | $28.60 | $15.5M | Form 4 |
| May 5, 2026 | John G DanhaklDirector, 10% owner | Sold | 2,493,083 | $28.60 | $71.3M | Form 4 |
| May 5, 2026 | John Kristofer GalashanDirector, 10% owner | Sold | 2,493,083 | $28.60 | $71.3M | Form 4 |
| Mar 13, 2026 | Parham JavaheriEVP &President Club Operations | Sold | 11,060 | $26.46 | $0.3M | Form 4 |
| Mar 3, 2026 | Erik WeaverEVP & Chief Financial Officer | Sold plan | 1,329 | $25.73 | $0.0M | Form 4 |
| Feb 3, 2026 | Ritadhwaja Jebens SinghEVP & Chief Digital Officer | Sold plan | 5,880 | $30.31 | $0.2M | Form 4 |
| Feb 3, 2026 | Erik WeaverEVP & Chief Financial Officer | Sold plan | 1,493 | $29.90 | $0.0M | Form 4 |
| Jan 23, 2026 | Ritadhwaja Jebens SinghEVP & Chief Digital Officer | Sold plan | 12,088 | $29.75 | $0.4M | Form 4 |
| Nov 28, 2025 | Eric J BussEVP & Chief Admin. Officer | Sold plan | 74,487 | $28.05 | $2.1M | Form 4 |
| Nov 26, 2025 | Eric J BussEVP & Chief Admin. Officer | Sold plan | 162,722 | $28.04 | $4.6M | Form 4 |
| Oct 13, 2025 | Erik WeaverEVP & Chief Financial Officer | Sold plan | 4,846 | $25.10 | $0.1M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Life Time Group owes $1.3B more than it holds in cash, about 1.7 years of operating profit.
Cash, debt and the ratios that show how comfortably Life Time Group can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $31.6M | $25.5M | $11.2M | $10.9M | $205M |
| Debt incl. finance leases | $1.8B | $1.8B | $1.9B | $1.5B | $1.5B |
| Net debt / EBITDA | β | 5.3x | 4.1x | 2.4x | 1.7x |
| Debt / equity | 0.9x | 0.9x | 0.9x | 0.6x | 0.5x |
| Interest coverage | β4.0x | 1.1x | 1.8x | 2.6x | 5.6x |
| Current ratio | 0.3x | 0.3x | 0.3x | 0.3x | 0.6x |
| Quick ratio | 0.2x | 0.2x | 0.2x | 0.2x | 0.5x |
| Total assets | $6.3B | $6.6B | $7.0B | $7.2B | $8.0B |
| Total liabilities | $4.2B | $4.5B | $4.8B | $4.5B | $4.9B |
| Shareholders' equity | $2.1B | $2.1B | $2.3B | $2.6B | $3.1B |
| Net debt (β = net cash) | $1.8B | $1.8B | $1.9B | $1.5B | $1.3B |
KIRA Β· Its return on capital was 8.5%: every 100 invested in the business earned about 8 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Life Time Group passes 8 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | 6 / 8 | 8 / 9 | 8 / 9 |
| Accruals ratio | β5.7% | β5.9% | β6.6% |
| Altman Z'' | 0.09 | 0.43 | 0.87 |
What does the share cost, and how does it compare?
KIRA Β· At $43.86 a share, the company is worth $10.0B: 23.8 times its earnings of the last four quarters.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Value per share
β
Adds net cash of β$1.3B and divides by 225.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Value per share
β
Reference multiples: today 22.8x Β· peers 21.0x Β· sector 17.7x.
KIRA Β· Life Time Group grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 1 of 2.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Life Time Group LTH | $10.0B | 14.3% | 16.1% | β0.7% | 8.5% | 23.8x | 8 | |
| Six Flags FUN | $713M | 14.5% | β44.4% | β4.9% | β17.7% | β | 4 | Compare β |
| United Parks & Resorts PRKS | $1.4B | β3.6% | 22.0% | 9.8% | 16.1% | 11.8x | 6 | Compare β |
| Planet Fitness PLNT | β | 12.1% | 29.8% | 19.2% | 18.4% | β | β | Compare β |
| OneSpaWorld OSW | $2.4B | 7.4% | 8.5% | 7.1% | 12.7% | 30.2x | 6 | Compare β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $1.9B | $948M | $1.3B | $1.8B | $2.2B | $2.6B | $3.0B |
| Gross profit | β | β | β | β | $1.0B | $1.2B | $1.4B |
| Operating income | $168M | β$359M | β$495M | $111M | $225M | $358M | $481M |
| Interest expense | $121M | $112M | $125M | $105M | $122M | $137M | $85.4M |
| Pretax income | $40.1M | β$488M | β$720M | β$2.6M | $94.8M | $209M | $494M |
| Income tax | $10.1M | β$128M | β$140M | β$0.8M | $18.7M | $52.5M | $120M |
| Net income | $30.0M | β$360M | β$579M | β$1.8M | $76.1M | $156M | $374M |
| Diluted EPS | $0.22 | β$2.48 | β$3.73 | β$0.01 | $0.37 | $0.74 | $1.66 |
| Diluted shares | 0.14B | 0.15B | 0.16B | 0.19B | 0.20B | 0.21B | 0.23B |
| Cash flow | |||||||
| Cash from operations | $359M | β$96.0M | β$20.0M | $201M | $463M | $575M | $871M |
| Capital expenditure | $624M | $266M | $329M | $591M | $698M | $525M | $892M |
| Free cash flow | β$265M | β$362M | β$349M | β$390M | β$235M | $50.6M | β$21.0M |
| Depreciation and amortization | $221M | $248M | $235M | $229M | $244M | $275M | $296M |
| Stock-based compensation | $24.2M | $0.0M | $334M | $37.3M | $50.1M | $51.0M | $51.8M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $0.6M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Balance sheet | |||||||
| Cash and short-term investments | $48.0M | $33.2M | $31.6M | $25.5M | $11.2M | $10.9M | $205M |
| Total debt | β | $2.3B | $1.8B | $1.8B | $1.9B | $1.5B | $1.5B |
| Finance lease liabilities | $0.0M | $2.4M | $2.1M | $1.1M | $1.4M | $2.4M | $13.4M |
| Current assets | β | $166M | $132M | $131M | $175M | $171M | $386M |
| Current liabilities | β | $443M | $406M | $457M | $557M | $520M | $610M |
| Inventory | $0.0M | $36.3M | $41.0M | $45.7M | $52.8M | $60.3M | $67.6M |
| Property and equipment, net | β | $2.7B | $2.8B | $2.9B | $3.2B | $3.2B | $3.6B |
| Total assets | β | $6.0B | $6.3B | $6.6B | $7.0B | $7.2B | $8.0B |
| Total liabilities | β | $4.5B | $4.2B | $4.5B | $4.8B | $4.5B | $4.9B |
| Shareholders' equity | $1.8B | $1.5B | $2.1B | $2.1B | $2.3B | $2.6B | $3.1B |
| Margins | |||||||
| Gross margin | β | β | β | β | 46.6% | 46.9% | 47.6% |
| Operating margin | 8.9% | β37.9% | β37.6% | 6.1% | 10.2% | 13.6% | 16.1% |
| EBITDA margin | 20.5% | β11.8% | β19.7% | 18.6% | 21.2% | 24.1% | 26.0% |
| Net margin | 1.6% | β38.0% | β44.0% | β0.1% | 3.4% | 6.0% | 12.5% |
| FCF margin | β14.0% | β38.1% | β26.5% | β21.4% | β10.6% | 1.9% | β0.7% |
| Returns | |||||||
| Return on capital | β | β | β10.3% | 2.3% | 4.5% | 6.4% | 8.5% |
| Return on capital employed | β | β | β8.7% | 1.8% | 3.6% | 5.5% | 6.9% |
| Return on equity | β | β | β32.4% | β0.1% | 3.5% | 6.4% | 13.0% |
| Return on assets | β | β | β9.4% | β0.0% | 1.1% | 2.2% | 4.9% |
| Growth | |||||||
| Revenue growth | β | β50.1% | 39.0% | 38.3% | 21.6% | 18.2% | 14.3% |
| Net income growth | β | β1,299.6% | β | β | β | 105.4% | 139.2% |
| EPS growth | β | β1,227.3% | β | β | β | 100.0% | 124.3% |
| FCF growth | β | β | β | β | β | β | β141.4% |
| Share count change | β | 4.1% | 7.1% | 24.5% | 5.4% | 3.5% | 6.8% |
| Financial health | |||||||
| Net debt / EBITDA | β | β | β | 5.3x | 4.1x | 2.4x | 1.7x |
| Debt / equity | β | 1.5x | 0.9x | 0.9x | 0.9x | 0.6x | 0.5x |
| Interest coverage | 1.4x | β3.2x | β4.0x | 1.1x | 1.8x | 2.6x | 5.6x |
| Current ratio | β | 0.4x | 0.3x | 0.3x | 0.3x | 0.3x | 0.6x |
| Quick ratio | β | 0.3x | 0.2x | 0.2x | 0.2x | 0.2x | 0.5x |
| Capital allocation | |||||||
| Capex / revenue | 32.8% | 28.0% | 25.0% | 32.4% | 31.5% | 20.0% | 29.8% |
| Stock comp / revenue | 1.3% | 0.0% | 25.4% | 2.1% | 2.3% | 2.0% | 1.7% |
| Payouts / FCF | β | β | β | β | β | 0.0% | β |
| Quality scores | |||||||
| Piotroski F-score | β | β | β | 5.0 | 6.0 | 8.0 | 8.0 |
| Altman Z'' | β | β0.4 | β0.6 | β0.0 | 0.1 | 0.4 | 0.9 |
| Accruals ratio | β | β | β9.1% | β3.2% | β5.7% | β5.9% | β6.6% |
Source: SEC EDGAR XBRL filings (CIK 0001869198). Data updated October 19, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
