Life Time Group vs OneSpaWorld
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The short version
- Life Time Group is the larger business, with $3.0B of revenue in fiscal 2025 against $961M for OneSpaWorld, about 3.1 times as much.
- Life Time Group grew revenue faster (14.3%, against 7.4%).
- Life Time Group kept more of each dollar of sales as operating profit (16.1% operating margin, against 8.5%).
- OneSpaWorld turned more of its sales into free cash flow (7.1% FCF margin, against −0.7%).
- OneSpaWorld earned a higher return on the capital invested in it (12.7%, against 8.5%).
- Investors pay more for each dollar of OneSpaWorld’s earnings: a P/E of 30.2x against 22.8x for Life Time Group.
| Latest fiscal year | LTH · FY25 | OSW · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.5B | $2.4B |
| Revenue | $3.0B | $961M |
| Free cash flow | −$21.0M | $68.5M |
| Net income | $374M | $71.6M |
| Growth | ||
| Revenue growth | 14.3% | 7.4% |
| 5-year growth | 25.9% | 51.4% |
| Share count change | 6.8% | −1.2% |
| Profitability | ||
| Gross margin | 47.6% | — |
| Operating margin | 16.1% | 8.5% |
| Net margin | 12.5% | 7.5% |
| FCF margin | −0.7% | 7.1% |
| Return on capital | 8.5% | 12.7% |
| Return on equity | 13.0% | 13.1% |
| Balance sheet | ||
| Net debt | $1.3B | $67.7M |
| Net debt / EBITDA | 1.7x | 0.6x |
| Dividends and buybacks | $0.0M | $92.9M |
| Valuation & quality | ||
| P/E | 22.8x | 30.2x |
| Piotroski F-score | 8 | 6 |
Revenue
FY17
LTH —
OSW $507M
FY18
LTH —
OSW $541M
FY19
LTH $1.9B
OSW —
FY20
LTH $948M
OSW $121M
FY21
LTH $1.3B
OSW $144M
FY22
LTH $1.8B
OSW $546M
FY23
LTH $2.2B
OSW $794M
FY24
LTH $2.6B
OSW $895M
FY25
LTH $3.0B
OSW $961M
LTH
OSW
Operating margin
FY17
LTH —
OSW 7.6%
FY18
LTH —
OSW 9.0%
FY19
LTH 8.9%
OSW —
FY20
LTH −37.9%
OSW −219.2%
FY21
LTH −37.6%
OSW −36.1%
FY22
LTH 6.1%
OSW 2.8%
FY23
LTH 10.2%
OSW 6.8%
FY24
LTH 13.6%
OSW 8.7%
FY25
LTH 16.1%
OSW 8.5%
LTH
OSW
Free cash flow
FY17
LTH —
OSW $67.4M
FY18
LTH —
OSW $27.4M
FY19
LTH −$265M
OSW —
FY20
LTH −$362M
OSW −$38.7M
FY21
LTH −$349M
OSW −$38.0M
FY22
LTH −$390M
OSW $19.9M
FY23
LTH −$235M
OSW $58.0M
FY24
LTH $50.6M
OSW $72.1M
FY25
LTH −$21.0M
OSW $68.5M
LTH
OSW
Return on capital
FY17
LTH —
OSW —
FY18
LTH —
OSW —
FY19
LTH —
OSW —
FY20
LTH —
OSW —
FY21
LTH −10.3%
OSW −8.2%
FY22
LTH 2.3%
OSW 2.9%
FY23
LTH 4.5%
OSW 7.7%
FY24
LTH 6.4%
OSW 12.8%
FY25
LTH 8.5%
OSW 12.7%
LTH
OSW
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.