A Business at a Glance
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Unless stated otherwise or the context otherwise requires, the terms "we," "us," "our," "our business," "LifeStance" and "our Company" and similar references refer to LifeStance Health Group, Inc. and its consolidated subsidiaries and supported practices. References to "our employees" and "our clinicians" refer collectively to employees and clinicians, respectively, of our subsidiaries and supported practices. References to "our patients" refer to the patients treated by such clinicians. Our vision is a truly healthy society where mental and physical healthcare are unified to make lives better. Our mission is to help people lead healthier, more fulfilling lives by improving access to trusted, affordable and personalized mental healthcare. To fulfill this mission, we have built one of the nation’s largest outpatient mental health platforms based on number of clinicians and geographic scale.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.4B | 1.4B | 1.3B | 1.1B | 860M | 668M |
| Net Income | 9.7M | 9.7M | -57M | -186M | -216M | -344M |
| EPS | $0.02 | $0.02 | $-0.15 | $-0.51 | $-0.61 | $-1.05 |
| Free Cash Flow | 110M | 110M | 86M | -57M | -26M | -85M |
| ROIC | 1.1% | 1.3% | -3.3% | -10.9% | -12.4% | -20.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.31 | 0.31 | 0.34 | 0.36 | 0.32 | 0.10 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 24M | 24M | -32M | -189M | -210M | -286M |
| Operating Margin | 1.7% | 1.7% | -2.5% | -17.9% | -24.5% | -42.9% |
| ROE | 0.6% | 0.7% | -4.0% | -13.0% | -14.2% | -22.3% |
| Shares Outstanding | 483M | 483M | 383M | 365M | 353M | 328M |
| Metric | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 668M | 860M | 1.1B | 1.3B | 1.4B | 1.4B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 434M | 378M | 411M | 363M | 382M | 382M |
| EBIT | -286M | -210M | -189M | -32M | 24M | 24M |
| Op. Margin | -42.9% | -24.5% | -17.9% | -2.5% | 1.7% | 1.7% |
| Net Income | -344M | -216M | -186M | -57M | 9.7M | 9.7M |
| Net Margin | -51.5% | -25.1% | -17.6% | -4.6% | 0.7% | 0.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | -20.2% | -12.4% | -10.9% | -3.3% | 1.3% | 1.1% |
| ROE | -22.3% | -14.2% | -13.0% | -4.0% | 0.7% | 0.6% |
| ROA | -17.8% | -9.9% | -8.8% | -2.7% | 0.4% | 0.4% |
| Cash Flow | ||||||
| Op. Cash Flow | 9.4M | 53M | -17M | 107M | 146M | 146M |
| Free Cash Flow | -85M | -26M | -57M | 86M | 110M | 110M |
| Owner Earnings | -304M | -204M | -197M | -40M | 17M | 17M |
| CapEx | 94M | 79M | 41M | 22M | 36M | 36M |
| Maint. CapEx | 54M | 69M | 80M | 71M | 55M | 55M |
| Growth CapEx | 40M | 10M | 0 | 0 | 0 | 0 |
| D&A | 54M | 69M | 80M | 71M | 55M | 55M |
| CapEx/OCF | 1003.1% | 150.1% | N/A | 20.1% | 24.7% | 24.7% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 259M | 187M | 99M | 76M | 75M | 75M |
| Debt Repayment | 311M | 188M | 2.5M | 289M | 7.3M | 7.3M |
| Balance Sheet | ||||||
| Net Debt | -137M | 262M | 353M | 176M | -23M | 226M |
| Cash & Equiv. | 148M | 109M | 79M | 155M | 249M | 249M |
| Long-Term Debt | 157M | 225M | 280M | 280M | 266M | 266M |
| Debt/Equity | 0.10 | 0.32 | 0.36 | 0.34 | 0.31 | 0.31 |
| Interest Coverage | -7.4 | -10.5 | -8.9 | -1.2 | 2.1 | 2.1 |
| Equity | 1.5B | 1.5B | 1.4B | 1.4B | 1.5B | 1.5B |
| Total Assets | 1.9B | 2.2B | 2.1B | 2.1B | 2.2B | 2.2B |
| Total Liabilities | 382M | 655M | 681M | 672M | 683M | 683M |
| Intangibles | 300M | 263M | 221M | 191M | 178M | 178M |
| Retained Earnings | -357M | -573M | -761M | -818M | -809M | -809M |
| Working Capital | 150M | 57M | 23M | 84M | 164M | 164M |
| Current Assets | 267M | 233M | 226M | 313M | 416M | 416M |
| Current Liabilities | 117M | 176M | 203M | 229M | 252M | 252M |
| Per Share Data | ||||||
| EPS | -1.05 | -0.61 | -0.51 | -0.15 | 0.02 | 0.02 |
| Owner EPS | -0.93 | -0.58 | -0.54 | -0.10 | 0.03 | 0.03 |
| Book Value | 4.72 | 4.30 | 3.91 | 3.78 | 3.15 | 3.15 |
| Cash Flow/Share | 0.03 | 0.15 | -0.05 | 0.28 | 0.30 | 0.13 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 327.6M | 353.4M | 365.2M | 383.0M | 483.1M | 483.1M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 356.5 | 323.0 |
| P/FCF | N/A | N/A | N/A | 33.5 | 31.3 | 28.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | 133.7 | 138.6 |
| Price/Book | 2.1 | 1.0 | 2.0 | 2.0 | 2.3 | 2.1 |
| Price/Sales | 8.0 | 3.1 | 2.4 | 2.0 | 2.1 | 2.2 |
| FCF Yield | -2.6% | -1.7% | -2.0% | 3.0% | 3.2% | 3.5% |
| Market Cap | 3.3B | 1.5B | 2.9B | 2.9B | 3.4B | 3.1B |
| Avg. Price | 16.28 | 7.45 | 7.07 | 6.48 | 6.11 | 6.46 |
| Year-End Price | 9.94 | 4.32 | 7.88 | 7.49 | 7.13 | 6.46 |
LifeStance Health Group, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
LifeStance Health Group, Inc. trades at 323.0x trailing earnings, compared to its 15-year median P/E of 15.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 22.9x vs a median of 32.4x. At current prices, the estimated annualized return to fair value is +73.0%.
LifeStance Health Group, Inc. (LFST) has a current P/E ratio of 323.0, compared to its historical median P/E of 15.0. The stock is currently considered Expensive based on its historical valuation range.
LifeStance Health Group, Inc. (LFST) has a 5-year average return on invested capital (ROIC) of -9.1%. This is below average and may indicate limited pricing power.
LifeStance Health Group, Inc. (LFST) has a market capitalization of $3.1B. It is classified as a mid-cap stock.
LifeStance Health Group, Inc. (LFST) does not currently pay a regular dividend.
Based on historical P/E analysis, LifeStance Health Group, Inc. (LFST) appears expensive. The current P/E of 323.0 is 2053% above its historical median of 15.0.
LifeStance Health Group, Inc. (LFST) operates in the Services-Health Services industry, within the Healthcare sector.
LifeStance Health Group, Inc. (LFST) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
LifeStance Health Group, Inc. (LFST) has a net profit margin of 0.7%. This is a modest margin.
LifeStance Health Group, Inc. (LFST) generated $110 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LifeStance Health Group, Inc. (LFST) has a debt-to-equity ratio of 0.31. This indicates a conservatively financed balance sheet.
LifeStance Health Group, Inc. (LFST) reported earnings per share (EPS) of $0.02 in its most recent fiscal year.
LifeStance Health Group, Inc. (LFST) has a return on equity (ROE) of 0.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 5 years of financial data for LifeStance Health Group, Inc. (LFST), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LifeStance Health Group, Inc. (LFST) has a book value per share of $3.15, based on its most recent annual SEC filing.