Latest Ratios: P/E Ratio 19.8x · EV/EBITDA 10.5x · ROE 31.7%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $60M | $70M | — | — | — |
| Enterprise Value | $51M | $-1391755197 | — | — | — |
| P/E Ratio → | 19.76 | 0.15 | — | — | — |
| P/S Ratio | 0.80 | 0.01 | — | — | — |
| P/B Ratio | 5.11 | 0.04 | — | — | — |
| P/FCF | 21.97 | 0.16 | — | — | — |
| P/OCF | 19.97 | 0.14 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | -0.11 | — | — | — |
| EV / EBITDA | 10.55 | -1.78 | — | — | — |
| EV / EBIT | 12.66 | -2.13 | — | — | — |
| EV / FCF | — | -3.14 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 29.5% | 29.5% | 28.5% | 25.1% | 25.5% |
| Operating Margin | 5.3% | 5.3% | 5.0% | 4.3% | 1.9% |
| Net Profit Margin | 3.7% | 3.7% | 4.1% | 2.6% | 2.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 31.7% | 31.7% | 50.3% | 47.1% | 42.4% |
| ROA | 10.0% | 10.0% | 9.4% | 6.2% | 5.1% |
| ROIC | 160.9% | 160.9% | 165.5% | — | 74.8% |
| ROCE | 32.2% | 32.2% | 34.1% | 30.8% | 12.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.57 | 0.57 | 1.67 | 3.00 | 4.29 |
| Debt / EBITDA | 1.33 | 1.33 | 2.70 | 3.83 | 7.63 |
| Net Debt / Equity | — | -0.80 | -0.77 | -1.38 | -0.65 |
| Net Debt / EBITDA | -1.86 | -1.86 | -1.25 | -1.76 | -1.16 |
| Debt / FCF | — | -3.30 | -4.66 | -1.28 | -0.72 |
| Interest Coverage | 38.07 | 38.07 | 33.61 | 30.66 | 20.13 |
Net cash position: cash ($2.5B) exceeds total debt ($1.0B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.54 | 1.54 | 1.16 | 1.13 | 1.07 |
| Quick Ratio | 1.53 | 1.53 | 1.15 | 1.12 | 1.05 |
| Cash Ratio | 1.12 | 1.12 | 0.89 | 0.92 | 0.88 |
| Asset Turnover | — | 2.63 | 2.30 | 2.12 | 2.18 |
| Inventory Turnover | 401.01 | 401.01 | 301.69 | 336.01 | 208.23 |
| Days Sales Outstanding | — | 21.73 | 18.32 | 17.90 | 13.48 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 5.1% | 679.4% | — | — | — |
| FCF Yield | 4.6% | 634.6% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $25M | $27M | $27M | $27M |
Capital allocation inefficiency
Based on current market data, LFS trades at a P/E of 19.76 and a P/S of 0.80, suggesting that investors are pricing in significant skepticism regarding the company's ability to convert its massive $12.2 billion revenue scale into consistent, high-quality earnings growth over the long term.
The valuation multiples appear to reflect a discount relative to broader service conglomerates, likely due to the volatility in net margins and the lack of clear forward guidance. Investors should monitor whether the current P/FCF of 21.97 is justified by future cash generation or if it represents an overvaluation of a business model currently struggling with thin operating margins.
According to recent financial statements, LFS's ROIC has shown extreme volatility, peaking at 45.6% in 2025Q3 before dropping to 23.8% in 2026Q1, a trend that suggests the company's returns are heavily influenced by non-operating cash balances rather than core operational excellence in its sports and social segments.
The wide variance in ROIC indicates that the company is not yet compounding capital in a predictable manner, likely due to the drag of its $2.5 billion cash reserve. Analysts should investigate whether management can deploy this capital into higher-yielding projects or if the current return profile is structurally capped by the low-margin nature of municipal facility management.
As reported in quarterly filings, LFS's cash conversion cycle has fluctuated wildly, ranging from 5 days in 2024Q4 to over 2,400 days in 2023Q4, which indicates that the company's working capital management is highly inconsistent and potentially distorted by the timing of large government contract payments.
The extreme swings in DSO and DPO suggest that the company lacks a stable operational rhythm, which complicates the assessment of its underlying efficiency. This volatility warrants further investigation into whether the company's reliance on municipal contracts creates structural cash flow bottlenecks that are not present in more traditional B2C fitness models.
Based on the latest balance sheet, LFS maintains a current ratio of 1.69 and a near-zero debt-to-equity ratio of 0.57, providing a substantial liquidity buffer that, while protective against stress, appears to be an underutilized asset that may be depressing the company's overall return on equity.
The company's liquidity position is undeniably robust, yet the lack of productive reinvestment into its facility network suggests a conservative capital allocation strategy that may frustrate shareholders seeking growth. Investors should monitor whether this cash pile is eventually utilized for strategic acquisitions or if it remains a permanent drag on the company's valuation multiples.
The P/E ratio is the most commonly misapplied metric for LFS, as it fails to account for the massive cash-heavy balance sheet and the lumpy revenue recognition inherent in the company's municipal contract-based business model, which can artificially inflate or deflate earnings in any given quarter.
Using P/E to value LFS obscures the underlying operational reality, as the company's earnings are frequently impacted by non-recurring items and working capital swings. A more appropriate approach would be to utilize an EV/EBITDA multiple, which strips out the distortive effects of the company's significant cash reserves and provides a clearer view of the core business's operational profitability.
Includes 30+ ratios · 4 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LFS stock.
LEIFRAS Co., Ltd. American Depositary Shares's current P/E ratio is 19.8x. The historical average is 0.1x. This places it at the 100th percentile of its historical range.
LEIFRAS Co., Ltd. American Depositary Shares's current EV/EBITDA is 10.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
LEIFRAS Co., Ltd. American Depositary Shares's return on equity (ROE) is 31.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 42.9%.
Based on historical data, LEIFRAS Co., Ltd. American Depositary Shares is trading at a P/E of 19.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LEIFRAS Co., Ltd. American Depositary Shares has 29.5% gross margin and 5.3% operating margin.
LEIFRAS Co., Ltd. American Depositary Shares's Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.