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Lifestance Health Group, Inc. key statistics and ratios

In fiscal 2025, Lifestance Health Group, Inc. had return on equity of 0.7%, an operating margin of 1.7%, debt equal to 18.6% of equity and a current ratio of 1.65. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin7.2%−42.9%−24.5%−17.9%−2.5%1.7%4.9%
Net margin2.7%−46.0%−25.1%−17.6%−4.6%0.7%3.2%
Free-cash-flow margin1.3%−12.7%−3.1%−5.4%6.9%7.7%11.0%
Return on equity—−44.6%−14.1%−12.6%−4.0%0.7%3.4%
Return on assets—−15.9%−10.5%−8.7%−2.7%0.4%2.3%
Asset turnover—0.350.420.490.590.660.72
Current ratio—2.281.331.111.371.651.38
Debt to equity—10.4%15.4%20.3%20.1%18.6%18.7%
Interest cover (operating income ÷ interest)2.8xn/mn/mn/mn/m2.1x7.8x
Effective tax rate28.0%————21.8%24.5%
SG&A as % of revenue19.3%65.0%44.0%38.9%29.0%26.8%25.2%
Capital spending as % of revenue6.7%14.2%9.2%3.8%1.7%2.5%2.8%
Free cash flow ÷ net income48.2%————>999%343.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · June 30, 2026
What it owns · $2.2bn
Short-term assets $378mLonger-term assets $1.8bn
What it owes, and who funded it · $2.2bn
Short-term liabilities $275mLonger-term liabilities $430mShareholders' equity $1.5bn
  • Short-term assets cover short-term liabilities $378m of assets due within a year against $275m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $378m short-term assets against $430m of longer-dated liabilities.
  • More cash than debt $226m of cash against $273m of debt.
  • Debt below 40% of shareholders' equity Debt is 19% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 10% to 19% over five years.
  • A year's operating cash flow covers at least 20% of debt $218m of operating cash flow against $273m of debt.
  • Operating profit covers interest at least five times over Operating income of $78m against $10m of interest.

From Lifestance Health Group, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

17 /100

Weak moat

How hard Lifestance Health Group's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -5.8% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -10.0%; its worst year was -46.8%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 6 years, at a median -1.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (22 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: LFST vs PIIIADUS vs LFSTHQY vs LFST

More: Health Care Services stocks compared, Health Care sector, rankings of US companies

Figures from Lifestance Health Group, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lifestance Health Group, Inc.