Life Time (LTH)
Market Price (7/28/2026): $44.0 | Market Cap: $9.8 BilSector: Consumer Discretionary | Industry: Leisure Facilities
Life Time (LTH)
Market Price (7/28/2026): $44.0Market Cap: $9.8 BilSector: Consumer DiscretionaryIndustry: Leisure Facilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 13% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Health & Wellness Trends. Themes include Experiential Retail, and Integrated Premium Wellness Services. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 59% Key risksLTH key risks include [1] substantial debt leverage and liquidity pressure indicating a possibility of financial distress, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 13% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Health & Wellness Trends. Themes include Experiential Retail, and Integrated Premium Wellness Services. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 59% |
| Key risksLTH key risks include [1] substantial debt leverage and liquidity pressure indicating a possibility of financial distress, Show more. |
Qualitative Assessment
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Life Time (LTH) stock has gained about 60% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Beat and Upgraded Full-Year Outlook.
Life Time reported robust financial results for its fiscal first quarter ended March 31, 2026, which were announced on May 5, 2026. The company posted adjusted diluted earnings per share (EPS) of $0.42, surpassing analysts' consensus estimates of $0.39. Quarterly revenue increased by 11.7% year-over-year to $788.7 million, exceeding analyst expectations of $787.65 million. Following this performance, Life Time raised its full-year fiscal 2026 revenue guidance to between $3.3 billion and $3.4 billion, up from a prior consensus of $3.3 billion, and increased its comparable center revenue growth forecast from 6.3%-7.3% to 6.9%-7.5%.
2. Strategic Sale-Leaseback Transactions Enhancing Liquidity and Deleveraging.
Life Time strategically executed sale-leaseback transactions, completing two deals for five properties in late April 2026, which generated approximately $200 million in net proceeds. The company also announced plans to complete an additional $200 million in sale-leaseback transactions during fiscal 2026, bringing the total expected proceeds for the year to $400 million. These actions significantly improved its financial position, as evidenced by a net debt leverage ratio that decreased to 1.6 times as of March 31, 2026, from 2.0 times in the prior year. Total available liquidity stood at $736.9 million as of March 31, 2026.
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Life Time (LTH) stock has gained about 60% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Beat and Upgraded Full-Year Outlook.
Life Time reported robust financial results for its fiscal first quarter ended March 31, 2026, which were announced on May 5, 2026. The company posted adjusted diluted earnings per share (EPS) of $0.42, surpassing analysts' consensus estimates of $0.39. Quarterly revenue increased by 11.7% year-over-year to $788.7 million, exceeding analyst expectations of $787.65 million. Following this performance, Life Time raised its full-year fiscal 2026 revenue guidance to between $3.3 billion and $3.4 billion, up from a prior consensus of $3.3 billion, and increased its comparable center revenue growth forecast from 6.3%-7.3% to 6.9%-7.5%.
2. Strategic Sale-Leaseback Transactions Enhancing Liquidity and Deleveraging.
Life Time strategically executed sale-leaseback transactions, completing two deals for five properties in late April 2026, which generated approximately $200 million in net proceeds. The company also announced plans to complete an additional $200 million in sale-leaseback transactions during fiscal 2026, bringing the total expected proceeds for the year to $400 million. These actions significantly improved its financial position, as evidenced by a net debt leverage ratio that decreased to 1.6 times as of March 31, 2026, from 2.0 times in the prior year. Total available liquidity stood at $736.9 million as of March 31, 2026.
3. Sustained Positive Analyst Sentiment and Upgraded Price Targets.
Analyst coverage of Life Time remained largely optimistic throughout the period. As of July 27, 2026, the stock maintained a consensus "Buy" rating from 14 Wall Street analysts, with 13 analysts recommending "Buy" or "Strong Buy." The average price target for LTH was $47.25, suggesting further upside from current levels. Several firms reiterated or raised their price targets, including Deutsche Bank increasing its target to $49, Wells Fargo to $46, and Jefferies to $51 during June and July 2026.
4. Robust Operational Performance and Accelerated Club Expansion.
Life Time demonstrated strong operational momentum, with continued increases in membership engagement and an improved membership mix, contributing to robust in-center performance. The company is on track with its expansion strategy for fiscal 2026, planning to open 12 to 14 new large-format, ground-up athletic country clubs. This expansion nearly doubles the square footage of clubs opened in fiscal 2024 and 2025, with the majority of these new clubs expected to open in the second half of fiscal 2026.
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Stock Movement Drivers
Fundamental Drivers
The 62.4% change in LTH stock from 3/31/2026 to 7/27/2026 was primarily driven by a 58.2% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.94 | 43.76 | 62.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,995 | 3,078 | 2.8% |
| Net Income Margin (%) | 12.5% | 12.5% | 0.4% |
| P/E Multiple | 15.9 | 25.2 | 58.2% |
| Shares Outstanding (Mil) | 221 | 222 | -0.5% |
| Cumulative Contribution | 62.4% |
Market Drivers
3/31/2026 to 7/27/2026| Return | Correlation | |
|---|---|---|
| LTH | 62.4% | |
| Market (SPY) | 13.6% | 23.8% |
| Sector (XLY) | 1.7% | 25.7% |
Fundamental Drivers
The 64.6% change in LTH stock from 12/31/2025 to 7/27/2026 was primarily driven by a 26.8% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.58 | 43.76 | 64.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,913 | 3,078 | 5.6% |
| Net Income Margin (%) | 9.9% | 12.5% | 26.8% |
| P/E Multiple | 20.3 | 25.2 | 23.9% |
| Shares Outstanding (Mil) | 220 | 222 | -0.8% |
| Cumulative Contribution | 64.6% |
Market Drivers
12/31/2025 to 7/27/2026| Return | Correlation | |
|---|---|---|
| LTH | 64.6% | |
| Market (SPY) | 8.7% | 33.9% |
| Sector (XLY) | -7.0% | 36.2% |
Fundamental Drivers
The 44.3% change in LTH stock from 6/30/2025 to 7/27/2026 was primarily driven by a 64.9% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.33 | 43.76 | 44.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,730 | 3,078 | 12.7% |
| Net Income Margin (%) | 7.6% | 12.5% | 64.9% |
| P/E Multiple | 31.0 | 25.2 | -18.8% |
| Shares Outstanding (Mil) | 212 | 222 | -4.5% |
| Cumulative Contribution | 44.3% |
Market Drivers
6/30/2025 to 7/27/2026| Return | Correlation | |
|---|---|---|
| LTH | 44.3% | |
| Market (SPY) | 20.6% | 33.1% |
| Sector (XLY) | 2.6% | 35.9% |
Fundamental Drivers
The 122.5% change in LTH stock from 6/30/2023 to 7/27/2026 was primarily driven by a 282.2% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.67 | 43.76 | 122.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,941 | 3,078 | 58.6% |
| Net Income Margin (%) | 3.3% | 12.5% | 282.2% |
| P/E Multiple | 60.1 | 25.2 | -58.1% |
| Shares Outstanding (Mil) | 195 | 222 | -12.3% |
| Cumulative Contribution | 122.5% |
Market Drivers
6/30/2023 to 7/27/2026| Return | Correlation | |
|---|---|---|
| LTH | 122.5% | |
| Market (SPY) | 72.6% | 42.1% |
| Sector (XLY) | 33.5% | 42.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LTH Return | -3% | -31% | 26% | 47% | 20% | 59% | 138% |
| Peers Return | 7% | -25% | 6% | 24% | -21% | -20% | -34% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| LTH Win Rate | 33% | 42% | 33% | 67% | 42% | 57% | |
| Peers Win Rate | 50% | 40% | 58% | 50% | 48% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| LTH Max Drawdown | - | -50% | -49% | -21% | -26% | -16% | |
| Peers Max Drawdown | -38% | -51% | -44% | -39% | -46% | -45% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PLNT, PTON, LULU, GRMN, XPOF.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/27/2026 (YTD)
How Low Can It Go
| Event | LTH | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.3% | -18.8% |
| % Gain to Breakeven | 22.4% | 23.1% |
| Time to Breakeven | 327 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.5% | -9.5% |
| % Gain to Breakeven | 65.3% | 10.5% |
| Time to Breakeven | 238 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.3% | -6.7% |
| % Gain to Breakeven | 23.9% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.1% | -24.5% |
| % Gain to Breakeven | 85.5% | 32.4% |
| Time to Breakeven | 95 days | 427 days |
In The Past
Life Time's stock fell -18.3% during the 2025 US Tariff Shock. Such a loss loss requires a 22.4% gain to breakeven.
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| Event | LTH | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.5% | -9.5% |
| % Gain to Breakeven | 65.3% | 10.5% |
| Time to Breakeven | 238 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.1% | -24.5% |
| % Gain to Breakeven | 85.5% | 32.4% |
| Time to Breakeven | 95 days | 427 days |
In The Past
Life Time's stock fell -18.3% during the 2025 US Tariff Shock. Such a loss loss requires a 22.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Life Time (LTH)
Life Time Group Holdings, Inc. (LTH) operates as a premier health, fitness, and wellness company across the United States and Canada. The company distinguishes itself by designing, building, and operating expansive, resort-like centers that offer a comprehensive suite of sports, athletic, professional fitness, family recreation, and spa amenities. These high-end facilities are strategically located in suburban and urban metropolitan areas, providing a luxury experience for its members.
At its core, Life Time provides extensive physical centers equipped with state-of-the-art fitness floors, group studios, indoor and outdoor pools, tennis and basketball courts, full-service locker rooms, bistros, and dedicated LifeSpa and LifeCafe offerings. The centers also cater to families with childcare and Kids Academy learning spaces. Complementing its physical footprint, Life Time offers a robust digital platform, Life Time Digital, which includes live-streaming fitness classes, remote personal training, nutrition support, and curated wellness content, including integration with Apple Fitness+. The company also engages in media activities and hosts athletic events.
Life Time primarily serves individual members and families seeking an all-encompassing, high-quality health and wellness lifestyle. Its target market comprises communities in metropolitan areas who desire premium fitness facilities combined with spa services, healthy dining options, and family-oriented amenities, all within a sophisticated, resort-like environment. This integrated approach aims to meet a broad spectrum of wellness needs for its members.
AI Analysis | Feedback
Here are a few analogies to describe Life Time (LTH):
It's like Equinox but with resort-style amenities for the entire family.
Think of it as a country club where health, fitness, and wellness are the main attraction.
AI Analysis | Feedback
- Health and Fitness Centers: Operating large, resort-like physical centers that provide extensive athletic, fitness, recreation, and spa amenities for members.
- Life Time Digital Platform: An online platform offering live streaming fitness classes, remote personal training, nutrition support, and curated health and wellness content.
- Spa Services (LifeSpa): Providing professional spa treatments and services within their physical centers.
- Food and Beverage (LifeCafe & Bistros): Offering healthy food and beverage options available at on-site cafes and bistros within their centers.
- Childcare and Kids Academy: Providing supervised childcare and structured learning and recreational programs for children within their centers.
- Athletic Event Management: Organizing and conducting various athletic events and related services.
AI Analysis | Feedback
Life Time Group Holdings, Inc. (LTH) primarily serves individual members rather than other businesses. Based on the company description, its major customers can be categorized as:
-
Health and Fitness Enthusiasts: Individuals seeking comprehensive fitness facilities, equipment, group fitness classes, personal training, and sports amenities such as tennis and basketball courts to achieve their health and performance goals.
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Families and Parents: Customers who utilize the company's family recreation options, including indoor and outdoor pools, childcare services, and Kids Academy learning spaces, looking for a holistic wellness environment for all ages.
-
Wellness and Lifestyle Seekers: Individuals looking for a premium, resort-like experience that extends beyond traditional fitness, encompassing spa services (LifeSpa), healthy dining options (LifeCafe, bistros), and an overall upscale environment for integrated health and wellness.
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Bahram Akradi, Founder, Chairman, and Chief Executive Officer
Bahram Akradi founded Life Time in 1992. Prior to launching Life Time, he co-founded and led U.S. Swim & Fitness Corporation (formerly Nautilus Fitness Center, Inc.) as its Executive Vice President from 1984 to 1989. Akradi and his partners sold U.S. Swim & Fitness to Bally Total Fitness in 1986. In 2015, Life Time was taken private by private equity firms Leonard Green and TPG in a transaction valued at over $4.0 billion.
Erik Weaver, Executive Vice President, Chief Financial Officer
Erik Weaver was appointed permanent Executive Vice President and Chief Financial Officer of Life Time Group Holdings, Inc. effective August 1, 2024. He previously served as the company's Interim Chief Financial Officer starting January 1, 2024, following the resignation of Robert Houghton. Weaver joined Life Time in 2004 and has held increasing roles of responsibility within the company's finance department, including Assistant Controller, Vice President and Controller, and Senior Vice President and Controller, as well as principal accounting officer. He holds a Master of Business Administration from Hamline University and a B.S. degree in accounting from St. Cloud State University.
Eric Buss, Executive Vice President, Chief Administrative Officer
Eric Buss serves as the Executive Vice President and Chief Administrative Officer for Life Time Group Holdings, Inc.
Parham Javaheri, Executive Vice President, President Club Operations and Chief of Property Development
Parham Javaheri holds the position of Executive Vice President, President Club Operations and Chief of Property Development at Life Time Group Holdings, Inc.
RJ Singh, Executive Vice President, Chief Digital Officer
RJ Singh is the Executive Vice President and Chief Digital Officer for Life Time Group Holdings, Inc. He received his undergraduate degree from Hamline University.
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Here are the key risks to Life Time's business:
- High Debt and Leverage: Life Time Group Holdings, Inc. carries substantial debt, with net debt around $1.46 billion as of March 2025 and total liabilities significantly exceeding its cash and receivables. This high leverage creates a substantial burden from interest payments and can limit the company's financial flexibility. If cash flow weakens, the debt becomes riskier, potentially leading to liquidity issues or requiring the company to raise new equity capital at a low price, which would dilute existing shareholders.
- Intense Competition and Evolving Consumer Preferences: The health and wellness industry is highly competitive and fragmented, with Life Time facing rivals ranging from low-cost gyms to boutique studios and digital fitness platforms like Peloton. There is also a continuous shift in consumer preferences, including a growing trend towards home fitness and on-demand services, which could challenge the traditional, comprehensive club model offered by Life Time. The company must continuously adapt its offerings and maintain its premium differentiation to attract and retain members in this dynamic market.
- Sensitivity to Economic Downturns: Life Time's premium health, fitness, and wellness experiences are largely considered discretionary spending for consumers. During periods of economic uncertainty, inflation, or recession, consumers are likely to cut back on such non-essential expenditures. This can directly impact Life Time's membership growth, retention, and overall revenue, as its affluent member base, while somewhat resilient, is not immune to broader economic pressures.
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Life Time Group Holdings, Inc. (LTH) operates within several large addressable markets, primarily centered around health, fitness, and wellness experiences, including physical clubs, spa services, and digital offerings across the United States and Canada.
Health and Wellness Market
- The global health and wellness market was estimated at USD 6.87 trillion in 2025 and is predicted to increase to approximately USD 11 trillion by 2034.
- In the U.S., the health and wellness industry was valued at US$2 trillion in 2024.
Health and Fitness Club Market
- Globally, the health and fitness club market size was approximately USD 121.19 billion in 2024 and is projected to grow to about USD 244.70 billion by 2032.
- Within the U.S., the market size for health and fitness clubs is estimated at USD 45.8 billion in 2025 and is expected to reach USD 71.5 billion by 2035.
Spa Services Market
- The global spa services market was valued at USD 76.35 billion in 2024 and is expected to reach USD 197.30 billion by 2032.
- The U.S. spa industry generated a record US$22.5 billion in revenue in 2024.
Digital Fitness Market
- The global digital fitness market, which includes wearables, connected equipment, and apps, is valued at USD 153.5 billion in 2026 and is expected to reach USD 312.3 billion by 2032.
- The U.S. fitness apps market size was approximately USD 4.75 billion in 2024 and is projected to reach around USD 12.55 billion by 2034.
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Share Repurchases
- In February 2026, Life Time's board of directors authorized a share repurchase program of up to $500 million of the company's common stock, with no expiration date.
Share Issuance
- Life Time Group Holdings, Inc. completed its Initial Public Offering (IPO) on October 12, 2021, issuing 39.0 million shares of common stock at $18.00 per share, resulting in gross proceeds of $702.0 million.
- In November 2021, the company sold nearly 1.6 million additional shares through an over-allotment option from its IPO, generating approximately $28.4 million in gross proceeds.
- In June 2025, certain selling stockholders conducted a secondary offering of 20 million shares of the company's common stock, resulting in total gross proceeds of $590 million, with the company not receiving any proceeds from this offering.
Capital Expenditures
- Total capital expenditures, net of construction reimbursements, were $892 million in 2025, with $657 million allocated to growth capital expenditures for new clubs.
- Life Time anticipates investing between $875 million and $915 million in growth capital for 2026, with over half dedicated to clubs scheduled to open in 2027 and beyond, alongside $140 million to $150 million for maintenance and $130 million to $140 million for modernization, technology, and corporate investments.
- The primary focus of capital expenditures is on accelerating new club openings, with expectations to open 12 to 14 new clubs in 2026. The company plans to fund these through cash from operations, cash on hand, and at least $300 million from sale-leaseback transactions in 2026.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 48.99 |
| Mkt Cap | 7.0 |
| Rev LTM | 2,762 |
| Op Inc LTM | 461 |
| FCF LTM | 334 |
| FCF 3Y Avg | 190 |
| CFO LTM | 659 |
| CFO 3Y Avg | 529 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.5% |
| Rev Chg 3Y Avg | 11.1% |
| Rev Chg Q | 8.0% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 26.0% |
| Op Inc Chg 3Y Avg | 33.3% |
| Op Mgn LTM | 17.9% |
| Op Mgn 3Y Avg | 17.6% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 20.4% |
| CFO/Rev 3Y Avg | 22.3% |
| FCF/Rev LTM | 13.9% |
| FCF/Rev 3Y Avg | 10.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.0 |
| P/S | 2.2 |
| P/Op Inc | 12.2 |
| P/EBIT | 18.4 |
| P/E | 22.0 |
| P/CFO | 10.5 |
| Total Yield | 4.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.5 |
| Net D/E | 0.3 |
Price Behavior
| Market Price | $43.76 | |
| Market Cap ($ Bil) | 9.7 | |
| First Trading Date | 10/07/2021 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $37.00 | $29.62 |
| DMA Trend | up | up |
| Distance from DMA | 18.3% | 47.8% |
| 3M | 1YR | |
| Volatility | 48.0% | 38.5% |
| Downside Capture | -18.35 | 83.25 |
| Upside Capture | 229.49 | 115.85 |
| Correlation (SPY) | 27.4% | 34.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.32 | 1.10 | 0.89 | 1.09 | 1.04 | 1.16 |
| Up Beta | 0.54 | 2.73 | 1.35 | 1.60 | 1.70 | 1.28 |
| Down Beta | 0.39 | -0.15 | -0.24 | 0.60 | 0.52 | 0.94 |
| Up Capture | 160% | 273% | 168% | 159% | 108% | 184% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 13 | 21 | 33 | 58 | 119 | 385 |
| Down Capture | -92% | -25% | 21% | 70% | 94% | 104% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 8 | 20 | 30 | 65 | 129 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LTH | |
|---|---|---|---|---|
| LTH | 50.7% | 38.4% | 1.14 | - |
| Sector ETF (XLY) | 0.1% | 19.2% | -0.12 | 37.1% |
| Equity (SPY) | 17.6% | 12.7% | 1.00 | 33.7% |
| Gold (GLD) | 20.8% | 28.1% | 0.66 | 2.8% |
| Commodities (DBC) | 29.6% | 19.5% | 1.21 | -24.2% |
| Real Estate (VNQ) | 13.9% | 14.1% | 0.69 | 33.4% |
| Bitcoin (BTCUSD) | -46.0% | 43.0% | -1.31 | 14.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LTH | |
|---|---|---|---|---|
| LTH | 19.9% | 47.3% | 0.56 | - |
| Sector ETF (XLY) | 5.6% | 24.0% | 0.19 | 49.4% |
| Equity (SPY) | 13.2% | 17.1% | 0.59 | 49.3% |
| Gold (GLD) | 17.2% | 18.4% | 0.75 | 6.1% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | 1.7% |
| Real Estate (VNQ) | 3.3% | 18.9% | 0.07 | 48.0% |
| Bitcoin (BTCUSD) | 15.8% | 53.5% | 0.47 | 21.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LTH | |
|---|---|---|---|---|
| LTH | 9.5% | 47.3% | 0.56 | - |
| Sector ETF (XLY) | 11.7% | 22.1% | 0.49 | 49.4% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 49.3% |
| Gold (GLD) | 11.4% | 16.1% | 0.58 | 6.1% |
| Commodities (DBC) | 6.9% | 18.0% | 0.30 | 1.7% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 48.0% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 21.6% |
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Returns Analyses
Earnings Returns History
Updated 6/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 11.8% | 23.1% | 20.9% |
| 2/24/2026 | -2.0% | -6.9% | -9.2% |
| 11/4/2025 | 5.3% | 0.5% | 6.8% |
| 8/5/2025 | -9.7% | -2.6% | -2.9% |
| 5/8/2025 | -6.7% | -11.3% | -12.0% |
| 2/27/2025 | -1.0% | 1.8% | 0.4% |
| 10/24/2024 | -8.1% | -8.6% | -3.7% |
| 8/1/2024 | 6.0% | 9.7% | 13.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 12 |
| # Negative | 10 | 9 | 7 |
| Median Positive | 6.0% | 15.0% | 12.5% |
| Median Negative | -7.4% | -8.6% | -12.0% |
| Max Positive | 13.1% | 35.4% | 52.2% |
| Max Negative | -15.2% | -17.3% | -21.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 11.8% | 23.1% | 20.9% |
| 2/24/2026 | -2.0% | -6.9% | -9.2% |
| 11/4/2025 | 5.3% | 0.5% | 6.8% |
| 8/5/2025 | -9.7% | -2.6% | -2.9% |
| 5/8/2025 | -6.7% | -11.3% | -12.0% |
| 2/27/2025 | -1.0% | 1.8% | 0.4% |
| 10/24/2024 | -8.1% | -8.6% | -3.7% |
| 8/1/2024 | 6.0% | 9.7% | 13.1% |
| 2/28/2024 | 10.4% | 12.1% | 24.1% |
| 10/25/2023 | -15.2% | -17.3% | 7.1% |
| 7/25/2023 | -13.6% | -16.0% | -21.3% |
| 4/25/2023 | 6.7% | 18.0% | 11.8% |
| 3/8/2023 | -6.5% | -10.5% | -16.1% |
| 1/9/2023 | 13.1% | 35.4% | 52.2% |
| 11/9/2022 | 4.4% | 29.4% | 34.2% |
| 8/10/2022 | 0.7% | -0.7% | -17.0% |
| 5/11/2022 | 3.2% | 21.4% | 21.6% |
| 3/10/2022 | -8.7% | -6.9% | 1.8% |
| 10/28/2021 | -3.6% | 1.4% | 11.0% |
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 12 |
| # Negative | 10 | 9 | 7 |
| Median Positive | 6.0% | 15.0% | 12.5% |
| Median Negative | -7.4% | -8.6% | -12.0% |
| Max Positive | 13.1% | 35.4% | 52.2% |
| Max Negative | -15.2% | -17.3% | -21.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/28/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/28/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
| 12/31/2021 | 03/10/2022 | 10-K |
| 09/30/2021 | 11/17/2021 | 10-Q |
| 06/30/2021 | 10/08/2021 | 424B4 |
Recent Forward Guidance
Updated 7/12/2026Latest: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 3.32 Bil | 3.33 Bil | 3.35 Bil | 0.6% | Raised | Guidance: 3.31 Bil for 2026 | |
| 2026 Net Income | 340.00 Mil | 342.50 Mil | 345.00 Mil | 2.9% | Raised | Guidance: 333.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 925.00 Mil | 932.50 Mil | 940.00 Mil | 1.6% | Raised | Guidance: 917.50 Mil for 2026 | |
| 2026 Comparable center revenue growth | 6.9% | 7.2% | 7.5% | 0.4% | Raised | Guidance: 6.8% for 2026 | |
| 2026 Growth capital expenditures | 8.75E10% | 8.95E10% | 9.15E10% | ||||
Prior: Q4 2025 Earnings Reported 2/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total revenue | 3.30 Bil | 3.31 Bil | 3.33 Bil | 11.1% | Higher New | Actual: 2.98 Bil for 2025 | |
| 2026 Net Income | 330.00 Mil | 333.00 Mil | 336.00 Mil | 9.2% | Higher New | Actual: 305.00 Mil for 2025 | |
| 2026 Adjusted net income | 369.00 Mil | 373.50 Mil | 378.00 Mil | ||||
| 2026 Adjusted EBITDA | 910.00 Mil | 917.50 Mil | 925.00 Mil | 11.6% | Higher New | Actual: 822.00 Mil for 2025 | |
| 2026 Comparable center revenue growth | 6.3% | 6.8% | 7.3% | -4.1% | Lower New | Actual: 10.9% for 2025 | |
| 2026 Weighted-average diluted common shares outstanding | 229.00 Mil | 230.00 Mil | 231.00 Mil | ||||
Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 2.98 Bil | 2.98 Bil | 2.99 Bil | 0.4% | Raised | Guidance: 2.97 Bil for 2025 | |
| 2025 Net Income | 304.00 Mil | 305.00 Mil | 306.00 Mil | 4.6% | Raised | Guidance: 291.50 Mil for 2025 | |
| 2025 Adjusted EBITDA | 820.00 Mil | 822.00 Mil | 824.00 Mil | 1.5% | Raised | Guidance: 810.00 Mil for 2025 | |
| 2025 Rent | 337.00 Mil | 340.00 Mil | 343.00 Mil | ||||
| 2025 Comparable center revenue growth | 10.8% | 10.9% | 11.0% | 1.2% | Raised | Guidance: 9.75% for 2025 | |
| 2025 Non-cash rent expense | 34.00 Mil | 35.00 Mil | 36.00 Mil | ||||
| 2025 Interest expense | 81.00 Mil | 82.00 Mil | 83.00 Mil | ||||
| 2025 Cash income tax expense | 27.00 Mil | 28.00 Mil | 29.00 Mil | ||||
| 2025 Depreciation and amortization expense | 296.00 Mil | 297.00 Mil | 298.00 Mil | ||||
Insider Activity
Updated 6/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Singh, Ritadhwaja Jebens | EVP & CHIEF DIGITAL OFFICER | Direct | Sell | 6262026 | 38.65 | 67,751 | 2,618,576 | 5,347,266 | Form |
| 2 | Almendares, Jimena | Direct | Sell | 6122026 | 33.59 | 40,589 | 1,363,527 | 1,242,388 | Form | |
| 3 | Danhakl, John G | See footnote. | Sell | 6052026 | 28.60 | 2,208,580 | 63,165,388 | 315,392,306 | Form | |
| 4 | Galashan, John Kristofer | See footnote. | Sell | 6052026 | 28.60 | 2,208,580 | 63,165,388 | 315,392,306 | Form | |
| 5 | Green, Ltf Holdings II LP | Direct | Sell | 6052026 | 28.60 | 2,208,580 | 63,165,388 | 524,438 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Singh, Ritadhwaja Jebens | EVP & CHIEF DIGITAL OFFICER | Direct | Sell | 6262026 | 38.65 | 67,751 | 2,618,576 | 5,347,266 | Form |
| 2 | Almendares, Jimena | Direct | Sell | 6122026 | 33.59 | 40,589 | 1,363,527 | 1,242,388 | Form | |
| 3 | Danhakl, John G | See footnote. | Sell | 6052026 | 28.60 | 2,208,580 | 63,165,388 | 315,392,306 | Form | |
| 4 | Galashan, John Kristofer | See footnote. | Sell | 6052026 | 28.60 | 2,208,580 | 63,165,388 | 315,392,306 | Form | |
| 5 | Green, Ltf Holdings II LP | Direct | Sell | 6052026 | 28.60 | 2,208,580 | 63,165,388 | 524,438 | Form | |
| 6 | Partners, Group Private Equity Fund, Llc | See footnote | Sell | 6052026 | 28.60 | 329,921 | 9,435,741 | 47,227,809 | Form | |
| 7 | Partners, Group Private Equity Fund, Llc | See footnote | Sell | 5262026 | 32.51 | 449,960 | 14,628,200 | 64,410,210 | Form | |
| 8 | Green, Ltf Holdings II LP | Direct | Sell | 5262026 | 32.51 | 3,006,100 | 97,728,311 | 715,545 | Form | |
| 9 | Galashan, John Kristofer | See footnote. | Sell | 5262026 | 32.51 | 3,006,100 | 97,728,311 | 430,311,560 | Form | |
| 10 | Danhakl, John G | See footnote. | Sell | 5262026 | 32.51 | 3,006,100 | 97,728,311 | 430,311,560 | Form | |
| 11 | Javaheri, Parham | EVP &PRESIDENT CLUB OPERATIONS | Direct | Sell | 5112026 | 31.80 | 62,900 | 2,000,226 | 7,841,078 | Form |
| 12 | Partners, Group Private Equity Fund, Llc | See footnote | Sell | 5112026 | 31.46 | 747,178 | 23,506,220 | 76,485,646 | Form | |
| 13 | Green, Ltf Holdings II LP | Direct | Sell | 5112026 | 31.46 | 4,991,749 | 157,040,424 | 849,703 | Form | |
| 14 | Danhakl, John G | See footnote. | Sell | 5112026 | 31.46 | 4,991,749 | 157,040,424 | 510,985,369 | Form | |
| 15 | Galashan, John Kristofer | See footnote. | Sell | 5112026 | 31.46 | 4,991,749 | 157,040,424 | 510,985,369 | Form | |
| 16 | Lasher, Stuart G | Direct | Sell | 5082026 | 32.42 | 50,000 | 1,621,135 | 2,303,892 | Form | |
| 17 | Buss, Eric J | EVP & CHIEF ADMIN. OFFICER | Direct | Sell | 5082026 | 32.02 | 192,217 | 6,154,423 | 15,176,836 | Form |
| 18 | Weaver, Erik | EVP & Chief Financial Officer | Direct | Sell | 5082026 | 32.69 | 22,000 | 719,202 | 3,732,201 | Form |
| 19 | Singh, Ritadhwaja Jebens | EVP & CHIEF DIGITAL OFFICER | Direct | Sell | 5082026 | 29.95 | 40,202 | 1,204,050 | 4,143,612 | Form |
| 20 | Partners, Group Private Equity Fund, Llc | See footnote | Sell | 5072026 | 28.60 | 542,119 | 15,504,603 | 90,901,697 | Form | |
| 21 | Galashan, John Kristofer | See footnote. | Sell | 5072026 | 28.60 | 2,493,083 | 71,302,174 | 641,011,171 | Form | |
| 22 | Green, Ltf Holdings II LP | Direct | Sell | 5072026 | 28.60 | 2,493,083 | 71,302,174 | 1,065,922 | Form | |
| 23 | Danhakl, John G | See footnote. | Sell | 5072026 | 28.60 | 2,493,083 | 71,302,174 | 641,011,171 | Form | |
| 24 | Javaheri, Parham | EVP &PRESIDENT CLUB OPERATIONS | Direct | Sell | 3132026 | 26.46 | 11,060 | 292,648 | 8,339,530 | Form |
| 25 | Weaver, Erik | EVP & Chief Financial Officer | Direct | Sell | 3032026 | 25.73 | 1,329 | 34,193 | 3,503,347 | Form |
| 26 | Weaver, Erik | EVP & Chief Financial Officer | Direct | Sell | 2032026 | 29.90 | 1,493 | 44,647 | 2,325,680 | Form |
| 27 | Singh, Ritadhwaja Jebens | EVP & CHIEF DIGITAL OFFICER | Direct | Sell | 2032026 | 30.31 | 5,880 | 178,223 | 3,095,985 | Form |
| 28 | Singh, Ritadhwaja Jebens | EVP & CHIEF DIGITAL OFFICER | Direct | Sell | 1272026 | 29.75 | 12,088 | 359,618 | 3,301,268 | Form |
| 29 | Buss, Eric J | EVP & CHIEF ADMIN. OFFICER | Direct | Sell | 12012025 | 28.05 | 74,487 | 2,089,427 | 10,678,501 | Form |
| 30 | Buss, Eric J | EVP & CHIEF ADMIN. OFFICER | Direct | Sell | 12012025 | 28.04 | 162,722 | 4,562,383 | 10,673,552 | Form |
| 31 | Weaver, Erik | EVP & Chief Financial Officer | Direct | Sell | 10142025 | 25.10 | 4,846 | 121,625 | 2,052,138 | Form |
| 32 | Partners, Group Private Equity (master Fund), Llc | See footnote | Sell | 9152025 | 28.95 | 745,707 | 21,588,218 | 107,708,475 | Form | |
| 33 | Danhakl, John G | See footnote. | Sell | 9152025 | 28.95 | 4,991,976 | 144,517,705 | 721,030,466 | Form | |
| 34 | Green, Ltf Holdings II LP | Direct | Sell | 9152025 | 28.95 | 4,991,976 | 144,517,705 | 1,198,964 | Form | |
| 35 | Galashan, John Kristofer | See footnote. | Sell | 9152025 | 28.95 | 4,991,976 | 144,517,705 | 721,030,466 | Form | |
| 36 | Javaheri, Parham | EVP &PRESIDENT CLUB OPERATIONS | Direct | Sell | 8282025 | 28.05 | 9,375 | 262,933 | 6,735,323 | Form |
| 37 | Javaheri, Parham | EVP &PRESIDENT CLUB OPERATIONS | Direct | Sell | 6162025 | 27.84 | 84,744 | 2,359,180 | 6,946,529 | Form |
| 38 | Weaver, Erik | EVP & Chief Financial Officer | Direct | Sell | 6102025 | 28.74 | 18,000 | 517,338 | 2,489,287 | Form |
| 39 | Singh, Ritadhwaja Jebens | EVP & CHIEF DIGITAL OFFICER | Direct | Sell | 6102025 | 28.80 | 134,247 | 3,866,018 | 3,835,550 | Form |
| 40 | Danhakl, John G | See footnote. | Sell | 6102025 | 29.38 | 11,655,582 | 342,440,999 | 878,404,327 | Form | |
| 41 | Green, Ltf Holdings II LP | Direct | Sell | 6102025 | 29.38 | 11,655,582 | 342,440,999 | 1,460,656 | Form | |
| 42 | Galashan, John Kristofer | See footnote. | Sell | 6102025 | 29.38 | 11,655,582 | 342,440,999 | 878,404,327 | Form | |
| 43 | Tpg, Gp A, Llc | See Explanation of Responses | Sell | 6102025 | 29.38 | 8,344,418 | 245,159,001 | 628,863,857 | Form |
Investor Activity (13F)
Updated Jul 28, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
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