A Business at a Glance
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Lantheus Holdings, Inc.
LNTH
$7.2B
Mkt Cap
$104.82
+1.05%
Lantheus Holdings, Inc. (LNTH) has a current P/E ratio of 30.7, compared to its historical median P/E of 14.6. The stock is currently considered Expensive based on its historical valuation range.
Lantheus Holdings, Inc. (LNTH) has a 5-year average return on invested capital (ROIC) of 21.5%. This indicates strong capital allocation and a potential competitive advantage.
Lantheus Holdings, Inc. (LNTH) has a market capitalization of $6.8B. It is classified as a mid-cap stock.
Lantheus Holdings, Inc. (LNTH) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 4.40%.
Based on historical P/E analysis, Lantheus Holdings, Inc. (LNTH) appears expensive. The current P/E of 30.7 is 111% above its historical median of 14.6. The estimated fair value CAGR (P/E method) is 35.7%.
Lantheus Holdings, Inc. (LNTH) operates in the In Vitro & In Vivo Diagnostic Substances industry, within the Healthcare sector.
Lantheus is a radiopharmaceutical-focused company that develops and commercializes diagnostic and therapeutic products organized into three categories: Radiopharmaceutical Oncology (including PYLARIFY, a PSMA PET imaging agent for prostate cancer), Precision Diagnostics (including DEFINITY microbubbles and Neuraceq, a beta-amyloid PET agent for Alzheimer's disease), and Strategic Partnerships and Other Revenue (including biomarker solutions, out-licensing agreements, and contract manufacturing through Evergreen). The company's products are used by cardiologists, oncologists, radiologists, nuclear medicine physicians, and other specialists in hospitals, independent imaging centers, and government facilities throughout the United States, Europe, Canada, Australia, Asia-Pacific, and Central and South America, with distribution through direct sales and third-party relationships. Lantheus generates revenue through product sales and licensing arrangements, leveraging a network of positron emission tomography manufacturing facilities (PMFs) and an established nuclear medicine customer base to distribute its diagnostic and therapeutic agents. The company's competitive positioning is built on its clinical differentiation, manufacturing infrastructure, and integrated diagnostic-therapeutic ("theragnostic") strategy, particularly in oncology and neurology, with a late-stage pipeline including tau-targeted and GRPR-targeted PET agents intended to complement its existing portfolio and drive future growth.
【Strategic portfolio diversification underway】 Management is executing a disciplined transition from a diversified radiopharmaceutical company to a focused radiodiagnostics platform, having divested its SPECT business and integrated recent acquisitions including Neuraceq and Life Molecular Imaging. The company expects 2026 to be a year of commercial execution and regulatory progress, with meaningful revenue contributions from new product launches anticipated beginning in 2027 as the company completes FDA approvals, secures reimbursement coding and transitional pass-through status, and transitions its PSMA PET franchise to a new formulation designed to enhance manufacturing efficiency and supply resilience. Management is balancing strategic investments in sales and marketing for new product launches with cost structure optimization to support sustainable long-term value creation, while remaining disciplined in deploying capital based on stage gates and long-term opportunity across a robust mid- and late-stage pipeline anchored by MK-6240 (tau-targeted PET for Alzheimer's disease), LNTH-2401 (GRPR-targeted PET for prostate cancer), OCTEVY (neuroendocrine tumor imaging), and PNT2003 (neuroendocrine tumor therapy).
| Metric | Target | Period |
|---|---|---|
| Revenue | $1.4 billion–$1.45 billion | FY2026 |
| Adjusted EPS | $5.00–$5.25 | FY2026 |
Revenue (FY2026): “Our full year forecasted revenue remains at $1.4 billion-$1.45 billion for 2026.”
Adjusted EPS (FY2026): “we forecast EPS in a range of $5.00-$5.25.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.5B | 1.5B | 1.5B | 1.3B | 935M | 425M |
| Net Income | 279M | 234M | 312M | 327M | 28M | -71M |
| EPS | $4.14 | $3.41 | $4.36 | $4.65 | $0.40 | $-1.06 |
| Free Cash Flow | 408M | 354M | 493M | 260M | 22M | 54M |
| ROIC | 16.9% | 22.1% | 45.3% | 44.2% | 6.3% | -10.6% |
| Gross Margin | 60.5% | 61.1% | 64.4% | 54.7% | 62.2% | 44.1% |
| Debt/Equity | 0.47 | 0.57 | 0.57 | 0.76 | 1.31 | 0.42 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 290M | 311M | 457M | 365M | 36M | -61M |
| Operating Margin | 18.8% | 20.2% | 29.8% | 28.1% | 3.9% | -14.3% |
| ROE | 23.0% | 21.4% | 32.8% | 51.7% | 6.2% | -14.6% |
| Shares Outstanding | 65M | 68M | 72M | 70M | 70M | 67M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 302M | 293M | 302M | 331M | 343M | 347M | 339M | 425M | 935M | 1.3B | 1.5B | 1.5B | 1.5B |
| Gross Margin | 41.6% | 46.2% | 45.6% | 48.9% | 50.9% | 50.3% | 40.9% | 44.1% | 62.2% | 54.7% | 64.4% | 61.1% | 60.5% |
| R&D | 14M | 14M | 12M | 18M | 17M | 20M | 33M | 45M | 312M | 78M | 168M | 177M | 180M |
| SG&A | 37M | 44M | 39M | 50M | 50M | 61M | 69M | 150M | 134M | 125M | 194M | 275M | 276M |
| EBIT | 39M | 43M | 57M | 52M | 64M | 52M | -4.2M | -61M | 36M | 365M | 457M | 311M | 290M |
| Op. Margin | 13.1% | 14.5% | 18.7% | 15.6% | 18.8% | 14.9% | -1.2% | -14.3% | 3.9% | 28.1% | 29.8% | 20.2% | 18.8% |
| Net Income | -3.6M | -15M | 27M | 123M | 41M | 32M | -13M | -71M | 28M | 327M | 312M | 234M | 279M |
| Net Margin | -1.2% | -5.0% | 8.9% | 37.2% | 11.8% | 9.1% | -4.0% | -16.8% | 3.0% | 25.2% | 20.4% | 15.2% | 18.0% |
| Non-Recurring | 1.6M | 1.4M | 0 | 0 | -842K | -286K | -2.3M | 15M | 0 | 0 | 18M | 12M | 12M |
| Returns on Capital | |||||||||||||
| ROIC | 30.6% | 31.1% | 41.2% | 30.9% | 24.0% | 23.4% | -0.9% | -10.6% | 6.3% | 44.2% | 45.3% | 22.1% | 16.9% |
| ROE | 1.5% | 6.9% | -18.3% | -296.5% | 85.9% | 34.1% | -4.3% | -14.6% | 6.2% | 51.7% | 32.8% | 21.4% | 23.0% |
| ROA | -2.8% | -6.1% | 10.7% | 38.6% | 9.8% | 7.5% | -2.1% | -8.2% | 2.6% | 22.0% | 17.2% | 11.1% | 11.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12M | 22M | 50M | 55M | 61M | 80M | 16M | 54M | 282M | 305M | 545M | 390M | 408M |
| Free Cash Flow | 3.5M | 8.6M | 42M | 37M | 41M | 58M | 16M | 54M | 22M | 260M | 493M | 354M | 408M |
| Owner Earnings | -7.7M | 856K | 30M | 31M | 40M | 56M | -21M | 10M | 219M | 148M | 360M | 232M | 287M |
| CapEx | 8.1M | 13M | 7.4M | 18M | 20M | 22M | 0 | 0 | 260M | 45M | 52M | 36M | 374K |
| Maint. CapEx | 18M | 19M | 17M | 18M | 13M | 12M | 23M | 28M | 33M | 107M | 109M | 73M | 41M |
| Growth CapEx | 0 | 0 | 0 | 0 | 7.4M | 10.0M | N/A | N/A | 227M | 0 | 0 | 0 | 0 |
| D&A | 18M | 19M | 17M | 18M | 13M | 12M | 23M | 28M | 33M | 107M | 109M | 73M | 41M |
| CapEx/OCF | N/A | 60.4% | 14.9% | 32.0% | 32.9% | 27.4% | 76.1% | N/A | 92.3% | 2.3% | 0.9% | 0.9% | 0.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75M | 0 | 100M | 300M | 300M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.2% | N/A | 1.5% | 6.6% | 4.4% |
| Stock-Based Comp | 1.0M | 2.0M | 2.5M | 5.9M | 8.7M | 12M | 14M | 16M | 29M | 51M | 76M | 86M | 80M |
| Debt Repayment | 71K | 1.9M | 79M | 287M | 2.9M | 275M | 15M | 43M | 175M | 717K | 318K | 1.1M | 1.1M |
| Balance Sheet | |||||||||||||
| Net Debt | 373M | 325M | 227M | 192M | 153M | 102M | 157M | 94M | 170M | -95M | -292M | 264M | 72M |
| Cash & Equiv. | 20M | 29M | 51M | 76M | 113M | 93M | 80M | 99M | 416M | 714M | 913M | 359M | 499M |
| Long-Term Debt | 393M | 350M | 274M | 265M | 264M | 184M | 198M | 163M | 558M | 562M | 565M | 569M | 570M |
| Debt/Equity | -1.64 | -1.91 | -2.61 | 11.51 | 3.75 | 1.70 | 0.46 | 0.42 | 1.31 | 0.76 | 0.57 | 0.57 | 0.47 |
| Interest Coverage | 0.9 | 1.1 | 2.1 | 2.8 | 3.7 | 3.8 | -0.4 | -7.8 | 5.0 | 18.2 | 23.2 | 15.7 | 2000.6 |
| Equity | -239M | -185M | -107M | 23M | 71M | 115M | 514M | 464M | 447M | 816M | 1.1B | 1.1B | 1.2B |
| Total Assets | 243M | 242M | 256M | 384M | 440M | 406M | 870M | 864M | 1.3B | 1.7B | 2.0B | 2.2B | 2.3B |
| Total Liabilities | 482M | 428M | 362M | 361M | 369M | 291M | 356M | 399M | 874M | 835M | 892M | 1.1B | 1.1B |
| Intangibles | 27M | 20M | 15M | 12M | 9.1M | 7.3M | 376M | 349M | 315M | 152M | 162M | 723M | 706M |
| Retained Earnings | -344M | -359M | -332M | -209M | -168M | -136M | -150M | -221M | -193M | 134M | 446M | 680M | 798M |
| Working Capital | 33M | 54M | 67M | 101M | 143M | 107M | 104M | 145M | 430M | 898M | 1.1B | 567M | 609M |
| Current Assets | 81M | 90M | 111M | 148M | 195M | 173M | 184M | 236M | 678M | 1.1B | 1.3B | 900M | 942M |
| Current Liabilities | 49M | 36M | 44M | 47M | 53M | 66M | 81M | 90M | 248M | 187M | 241M | 333M | 333M |
| Per Share Data | |||||||||||||
| EPS | -0.20 | -0.60 | 0.82 | 3.17 | 1.03 | 0.79 | -0.25 | -1.06 | 0.40 | 4.65 | 4.36 | 3.41 | 4.14 |
| Owner EPS | -0.43 | 0.03 | 0.91 | 0.79 | 1.01 | 1.39 | -0.39 | 0.16 | 3.13 | 2.10 | 5.02 | 3.38 | 4.41 |
| Book Value | -13.44 | -7.54 | -3.26 | 0.60 | 1.80 | 2.86 | 9.54 | 6.91 | 6.37 | 11.61 | 15.18 | 15.91 | 18.63 |
| Cash Flow/Share | 0.65 | 0.89 | 1.52 | 1.41 | 1.56 | 2.01 | 0.30 | 0.80 | 4.02 | 4.35 | 7.60 | 5.70 | 4.91 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 17.8M | 24.6M | 32.6M | 38.9M | 39.3M | 40.1M | 53.9M | 67.2M | 70.2M | 70.2M | 71.7M | 68.5M | 65.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 10.1 | 6.7 | 14.6 | 25.7 | N/A | N/A | 121.9 | 13.4 | 21.1 | 19.6 | 25.3 |
| P/FCF | N/A | 10.0 | 6.4 | 22.1 | 14.4 | 13.9 | 48.6 | 37.4 | 157.1 | 16.8 | 13.4 | 12.9 | 16.7 |
| EV/EBIT | N/A | 9.1 | 8.0 | 18.2 | 9.8 | 16.1 | N/A | N/A | 87.0 | 9.6 | 11.7 | 14.2 | 23.8 |
| Price/Book | N/A | N/A | N/A | 35.3 | 8.3 | 7.1 | 1.6 | 4.3 | 7.7 | 5.4 | 6.1 | 4.2 | 5.6 |
| Price/Sales | N/A | 0.4 | 0.5 | 1.8 | 1.9 | 2.6 | 2.2 | 3.7 | 4.4 | 4.0 | 3.9 | 3.3 | 4.4 |
| FCF Yield | N/A | 10.0% | 15.6% | 4.5% | 6.9% | 7.2% | 2.1% | 2.7% | 0.6% | 5.9% | 7.5% | 7.7% | 6.0% |
| Market Cap | N/A | 86M | 271M | 823M | 591M | 813M | 798M | 2.0B | 3.4B | 4.4B | 6.6B | 4.6B | 6.8B |
| Avg. Price | N/A | 5.25 | 4.99 | 15.72 | 16.21 | 22.54 | 14.04 | 23.30 | 59.23 | 73.52 | 83.57 | 75.33 | 104.82 |
| Year-End Price | N/A | 3.50 | 8.30 | 21.15 | 15.03 | 20.27 | 14.80 | 30.02 | 48.76 | 62.28 | 92.07 | 66.71 | 104.82 |
Lantheus Holdings, Inc. passes 8 of 9 quality checks, indicating strong fundamentals.
Lantheus Holdings, Inc. trades at 30.7x trailing earnings, compared to its 15-year median P/E of 14.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 17.5x vs a median of 14.4x. The company's 5-year average ROIC is 21.5% with a gross margin of 57.3%. Total shareholder yield (buybacks) is 4.4%. At current prices, the estimated annualized return to fair value is +42.2%.
Lantheus Holdings, Inc. (LNTH) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Lantheus Holdings, Inc. (LNTH) has a net profit margin of 15.2%. This is a healthy margin.
Lantheus Holdings, Inc. (LNTH) generated $354 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Lantheus Holdings, Inc. (LNTH) has a debt-to-equity ratio of 0.57. This indicates moderate leverage.
Lantheus Holdings, Inc. (LNTH) reported earnings per share (EPS) of $3.41 in its most recent fiscal year.
Lantheus Holdings, Inc. (LNTH) has a return on equity (ROE) of 21.4%. This indicates the company generates strong returns for shareholders.
Lantheus Holdings, Inc. (LNTH) has a 5-year average gross margin of 57.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 13 years of financial data for Lantheus Holdings, Inc. (LNTH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Lantheus Holdings, Inc. (LNTH) has a book value per share of $15.91, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is executing a disciplined transition from a diversified radiopharmaceutical company to a focused radiodiagnostics platform, having divested its SPECT business and integrated recent acquisitions including Neuraceq and Life Molecular Imaging. The company expects 2026 to be a year of commercial execution and regulatory progress, with meaningful revenue contributions from new product launches anticipated beginning in 2027 as the company completes FDA approvals, secures reimbursement coding and transitional pass-through status, and transitions its PSMA PET franchise to a new formulation designed to enhance manufacturing efficiency and supply resilience. Management is balancing strategic investments in sales and marketing for new product launches with cost structure optimization to support sustainable long-term value creation, while remaining disciplined in deploying capital based on stage gates and long-term opportunity across a robust mid- and late-stage pipeline anchored by MK-6240 (tau-targeted PET for Alzheimer's disease), LNTH-2401 (GRPR-targeted PET for prostate cancer), OCTEVY (neuroendocrine tumor imaging), and PNT2003 (neuroendocrine tumor therapy).
Based on recent SEC filings and earnings calls, Lantheus Holdings, Inc. (LNTH) has provided the following forward guidance: Revenue: $1.4 billion–$1.45 billion (FY2026); Adjusted EPS: $5.00–$5.25 (FY2026).