Acushnet (GOLF) vs Life Time Group Holdings, Inc. (LTH)

Acushnet and Life Time Group Holdings, Inc. are both Leisure companies. Life Time Group Holdings, Inc. is the larger, with a market value of $10.7B against $4.9B — 2.2× the size. Acushnet trades at the lower P/E: 22.5× against 25.2×. Life Time Group Holdings, Inc. grew revenue faster over the last twelve months: 13.0% against 6.84%. Life Time Group Holdings, Inc. has the higher net margin (12.7% vs 8.17%) and the lower return on invested capital (7.72% vs 13.7%). Across the 21 metrics below, Acushnet leads on 12 and Life Time Group Holdings, Inc. on 9.

Valuation

Metric GOLF LTH Leisure median
P/E 22.46 25.20 17.39
P/S 1.83 3.25 1.08
P/B 5.69 3.10 1.75
Price to free cash flow 23.22 n/m 11.20
EV/EBITDA 13.74 13.17 10.96
EV/Sales 2.12 3.61 1.87
Earnings yield 4.45% 3.97% 3.10%
Free cash flow yield 4.31% (1.93%) 5.07%

Profitability

Metric GOLF LTH Leisure median
Gross margin 49.41% 47.95% 47.50%
Operating margin 13.31% 17.37% 4.91%
Net margin 8.17% 12.72% 7.35%
Free cash flow margin 8.82% (6.26%) 6.81%
Return on equity 25.62% 13.02% 1.21%
Return on assets 8.99% 5.10% 2.20%
Return on invested capital 13.71% 7.72% 5.26%

Growth

Metric GOLF LTH Leisure median
Revenue growth (TTM) 6.84% 13.04% 2.89%
EPS growth (last fiscal year) (7.72%) 124.32% (4.35%)
Revenue growth, 5-year CAGR 9.68% 25.86% 5.32%
Net income growth, 5-year CAGR 14.45% 0.00% 0.00%

Health

Metric GOLF LTH Leisure median
Debt to equity 1.01 0.43 0.00
Current ratio 2.02 0.73 1.76
Net debt to EBITDA 2.50 1.63 1.53

Dividend

Metric GOLF LTH Leisure median
Dividend yield 1.20% — 1.77%
Payout ratio 0.27 — 0.27

Size

Metric GOLF LTH Leisure median
Market cap 4.88b 10.72b 555.10m

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