LTH
Life Time Group Holdings, Inc.
$32.07
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Fair Value
Trading 18.3% below fair value
You pay
$32.07
Bear
$31.42
Fair
$39.26
Bull
$47.12
Bear
$31.42
-2.0%
$1.72 × 18x P/E
Fair
$39.26
+22.4%
$1.72 × 22x P/E
Bull
$47.12
+46.9%
$1.72 × 27x P/E
Key Value Driver
Normalized P/E multiple (22x base case)
Implied Market Multiple
18.6x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $41.40 from 12 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $39.26 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples