Life Time Group vs United Parks & Resorts
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The short version
- Life Time Group is the larger business, with $3.0B of revenue in fiscal 2025 against $1.7B for United Parks & Resorts, about 1.8 times as much.
- Life Time Group grew revenue faster (14.3%, against −3.6%).
- United Parks & Resorts kept more of each dollar of sales as operating profit (22.0% operating margin, against 16.1%).
- United Parks & Resorts turned more of its sales into free cash flow (9.8% FCF margin, against −0.7%).
- United Parks & Resorts earned a higher return on the capital invested in it (16.1%, against 8.5%).
- Investors pay more for each dollar of Life Time Group’s earnings: a P/E of 22.8x against 11.8x for United Parks & Resorts.
| Latest fiscal year | LTH · FY25 | PRKS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.5B | $1.4B |
| Revenue | $3.0B | $1.7B |
| Free cash flow | −$21.0M | $163M |
| Net income | $374M | $168M |
| Growth | ||
| Revenue growth | 14.3% | −3.6% |
| 5-year growth | 25.9% | 31.0% |
| Share count change | 6.8% | −8.4% |
| Profitability | ||
| Gross margin | 47.6% | — |
| Operating margin | 16.1% | 22.0% |
| Net margin | 12.5% | 10.1% |
| FCF margin | −0.7% | 9.8% |
| Return on capital | 8.5% | 16.1% |
| Return on equity | 13.0% | — |
| Balance sheet | ||
| Net debt | $1.3B | $2.1B |
| Net debt / EBITDA | 1.7x | 4.0x |
| Dividends and buybacks | $0.0M | $160M |
| Valuation & quality | ||
| P/E | 22.8x | 11.8x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
LTH —
PRKS $1.3B
FY17
LTH —
PRKS $1.3B
FY18
LTH —
PRKS $1.4B
FY19
LTH $1.9B
PRKS $1.4B
FY20
LTH $948M
PRKS $432M
FY21
LTH $1.3B
PRKS $1.5B
FY22
LTH $1.8B
PRKS $1.7B
FY23
LTH $2.2B
PRKS $1.7B
FY24
LTH $2.6B
PRKS $1.7B
FY25
LTH $3.0B
PRKS $1.7B
LTH
PRKS
Operating margin
FY16
LTH —
PRKS 4.4%
FY17
LTH —
PRKS −15.9%
FY18
LTH —
PRKS 11.1%
FY19
LTH 8.9%
PRKS 15.3%
FY20
LTH −37.9%
PRKS −56.0%
FY21
LTH −37.6%
PRKS 28.7%
FY22
LTH 6.1%
PRKS 29.3%
FY23
LTH 10.2%
PRKS 26.6%
FY24
LTH 13.6%
PRKS 26.9%
FY25
LTH 16.1%
PRKS 22.0%
LTH
PRKS
Free cash flow
FY16
LTH —
PRKS $120M
FY17
LTH —
PRKS $19.9M
FY18
LTH —
PRKS $114M
FY19
LTH −$265M
PRKS $153M
FY20
LTH −$362M
PRKS −$230M
FY21
LTH −$349M
PRKS $374M
FY22
LTH −$390M
PRKS $364M
FY23
LTH −$235M
PRKS $200M
FY24
LTH $50.6M
PRKS $232M
FY25
LTH −$21.0M
PRKS $163M
LTH
PRKS
Return on capital
FY16
LTH —
PRKS 2.3%
FY17
LTH —
PRKS −8.4%
FY18
LTH —
PRKS 6.1%
FY19
LTH —
PRKS 8.5%
FY20
LTH —
PRKS −11.3%
FY21
LTH −10.3%
PRKS 26.2%
FY22
LTH 2.3%
PRKS 23.4%
FY23
LTH 4.5%
PRKS 21.2%
FY24
LTH 6.4%
PRKS 21.7%
FY25
LTH 8.5%
PRKS 16.1%
LTH
PRKS
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.