Life Time Group Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Life Time Group Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,900	948	1,318	1,823	2,217	2,621	2,995
Cost of revenue					1,184	1,392	1,569
Gross profit					1,032	1,229	1,427
Selling, general and administrative	228	150	481	214	201	221	245
Operating income	168	-359	-495	111	225	357	481
Other non-operating income	-128	-129	-225	-113	-130	-149	12.2
Pre-tax income	40.1	-488	-720	-2.62	94.8	209	494
Income tax	10.1	-128	-140	-0.83	18.7	52.5	120
Net income to minority interests	0.02	0	0
Net income	30	-360	-579	-1.79	76.1	156	374
EBITDA	389	-111	-260	340	470	632	778
EPS, basic	0.22	-2.48	-3.73	-0.01	0.39	0.77	1.71
EPS, diluted	0.22	-2.48	-3.73	-0.01	0.37	0.74	1.66
Shares, basic (weighted)	139	145	155	194	196	202	218
Shares, diluted (weighted)	139	145	155	194	204	211	225

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	48	33.2	31.6	25.5	11.2	10.9	205
Receivables		4.81	6.46	13.4	23.9	25.1	24.1
Inventory		36.3	41	45.7	52.8	60.3	67.6
Other current assets		87.2	48.9	21.9	10.4	12.6	9.71
Total current assets		166	132	131	175	171	386
Property, plant and equipment		2,693	2,791	2,901	3,172	3,194	3,633
Lease right-of-use assets		1,709	1,865	2,117	2,203	2,313	2,480
Goodwill		1,233	1,233	1,233	1,235	1,235	1,235
Intangible assets		164	174	173	172	172	181
Other non-current assets		53	61.7	69.7	75.9	67.6	93
Total assets		6,018	6,257	6,625	7,032	7,153	8,008
Accounts payable		54.1	71.3	74	81.3	87.8	90.2
Accrued liabilities		118	148	154	185	179	214
Deferred revenue		42.3	33.9	36.9	49.3	58.3	60.3
Short-term debt		139	23.5	15.2	73.8	22.6	21.8
Total current liabilities		443	406	457	557	520	610
Long-term debt		2,133	1,776	1,806	1,859	1,513	1,486
Lease liabilities		1,738	1,910	2,162	2,269	2,381	2,556
Other non-current liabilities		26.2	18.2	34.2	36.9	42.6	58.6
Total liabilities		4,536	4,165	4,501	4,778	4,542	4,882
Total debt		2,273	1,799	1,821	1,933	1,536	1,508
Paid-in capital		1,570	2,744	2,784	2,836	3,042	3,183
Retained earnings		-71.7	-651	-653	-577	-421	-46.9
Other comprehensive income		-3.23	-3.02	-9.22	-6.93	-12.8	-12.1
Shareholders' equity	1,750	1,481	2,091	2,124	2,254	2,610	3,126
Total equity	1,750	1,481	2,091	2,124	2,254	2,610	3,126
Total liabilities and equity		6,018	6,257	6,625	7,032	7,153	8,008
Shares outstanding		145	193	194	197	207	221

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	30	-360	-579	-1.79	76.1	156	374
Depreciation and amortization	220	248	235	229	244	275	296
Stock-based compensation	24.2	0	334	37.3	50.1	51	51.8
Deferred income tax	3.44	-99.9	-140	-13.6	14.6	29.5	87.5
Change in receivables	-7.05	11.6	-1.74	-5.99	-12.9	-2.48	0.87
Change in inventory	-2.59	8.04	-4.73	-4.7	-7.13	-7.52	-7.32
Change in payables	-3.55	0.4	17.2	2.99	7.15	7.06	3.51
Cash from operations	359	-96	-20	201	463	575	871
Capital expenditures	-624	-266	-329	-591	-698	-525	-891
Acquisitions					-0.6
Cash from investing	-478	-6.12	-270	-244	-574	-293	-686
Stock issued	105	90	702	0	0	124	0
Cash from financing	133	87.4	288	36.8	116	-284	19.4
Exchange rate effect	0.21	-0.06	-0.01	-0.35	0.06	-0.08	0.11
Net change in cash	14.4	-14.8	-1.56	-6.13	4.46	-2.09	204
Free cash flow	-265	-362	-349	-390	-235	50.6	-21
Interest paid	121	112	125	105	122	137	85.4
Income taxes paid	-25.3	-32.4	-0.89	10.6	14.1	18.2	27.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $39.97 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	48.0%	Gross profit / revenue.
Operating margin	17.3%	Operating income / revenue.
EBITDA margin	27.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.8%	Pre-tax income / revenue.
Net margin	13.0%	Net income / revenue.
FCF margin	-4.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	28.3%	Cash from operations / revenue.
Effective tax rate	26.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.0%	Net income / average total assets.
Return on invested capital (ROIC)	8.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	7.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	33.0%	Capital expenditures / revenue.
D&A / revenue	9.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	14.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	18.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	25.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	16.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y	34.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	63.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	23.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	31.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	139.2%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	124.3%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	51.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	63.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-141.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	19.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	13.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	16.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	12.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	6.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	9.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.66x	Current assets / current liabilities.
Quick ratio	0.38x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.34x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.45x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	17.9%	Total debt / total assets.
Liabilities / assets	60.5%	Total liabilities / total assets.
Net debt	$1.27B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.47x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$227.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	16.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.89B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.38x	Revenue / average total assets.
Fixed asset turnover	0.83x	Revenue / average property, plant and equipment.
Inventory turnover	24.8x	Cost of revenue / average inventory.
Days inventory	15 days	365 x average inventory / cost of revenue.
Receivables turnover	121x	Revenue / average receivables.
Days sales outstanding	3 days	365 x average receivables / revenue.
Days payables	21 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-4 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-36.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	116.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.83	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$14.00	Revenue / diluted weighted shares.
FCF per share	-$0.66	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.96	Cash from operations / diluted weighted shares.
Book value per share	$14.79	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.45	Tangible book value / shares outstanding.
Cash per share	$1.00	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$8.93B	Share price x shares outstanding.
Enterprise value	$10.21B	Market cap + total debt - cash - short-term investments.
P/E	21.5x	Market cap / net income. Only when net income is positive.
P/S	2.81x	Market cap / revenue.
P/B	2.70x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.74x	Market cap / tangible book value, when positive.
P/OCF	9.93x	Market cap / cash from operations, when positive.
EV/Sales	3.21x	Enterprise value / revenue.
EV/EBIT	18.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.8x	Enterprise value / EBITDA, when both are positive.
FCF yield	-1.7%	Free cash flow / market cap.
Earnings yield	4.6%	Net income / market cap (the inverse of P/E).

What was Life Time Group Holdings, Inc.'s revenue in fiscal 2025?

Life Time Group Holdings, Inc. reported revenue of $3.00B for fiscal 2025, 14.3% higher than the year before.

Was Life Time Group Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $373.7M, a net margin of 12.5%.

How much free cash flow did Life Time Group Holdings, Inc. generate in fiscal 2025?

Cash from operations of $870.5M minus capital expenditures of $891.5M left free cash flow of -$21.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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