# LifeStance Health Group, Inc. (LFST)

> Source: Nexqual · https://nexqual.com/LFST · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, LifeStance Health Group, Inc. (LFST), nexqual.com/LFST" · informational, not investment advice.

**Price:** USD 12.56 (+1.87% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 12.33 · day 12.17–12.63 · 52w 4.77–13.56 · market cap $4.77B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.58B, net income $50.6M (3.2% margin), free cash flow $174M (SEC filings).
- Valuation: P/E 94.4x (avg 285.0x at the last 1 fiscal year-ends), EV/EBITDA 39.9x, net debt $49.6M.
- 1 of 80 tracked superinvestors hold LFST (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 16 Form 4 filings, $670M; 10 not under a Rule 10b5-1 plan ($658M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (11 analysts), mean target USD 14.4 (range 12–18).
- Total return with dividends: 1Y +144.4% vs S&P 500 +14.9%; 5Y +14.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.08, revenue estimate $432M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $668M | $860M | $1.06B | $1.25B | $1.42B | $1.58B |
| Operating income | -$286M | -$210M | -$189M | -$31.6M | $24.1M | $78.4M |
| Net income | -$307M | -$216M | -$186M | -$57.4M | $9.7M | $50.6M |
| Free cash flow | -$85.1M | -$26.5M | -$57.4M | $85.7M | $110M | $174M |
| Operating margin | -42.9% | -24.5% | -17.9% | -2.5% | 1.7% | 4.9% |
| Net margin | -46.0% | -25.1% | -17.6% | -4.6% | 0.7% | 3.2% |
| Revenue growth | — | +28.8% | +22.8% | +18.5% | +13.9% | — |
| Cash + short-term investments | $148M | $109M | $78.8M | $155M | $249M | — |
| Total debt | $161M | $234M | $289M | $290M | $283M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 94.4x · P/S 3.0x · EV/EBITDA 39.9x · EV/Sales 3.0x · P/FCF 27.5x · P/B 3.2x · FCF yield 3.64% · Earnings yield 1.06% · Net debt $49.6M · EV $4.82B
P/E at fiscal year-ends: Dec 2025 285.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold LFST. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $16.7M | Reduced -3.0% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
6 of 16 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-11 | Tpg Gp A, Llc |  | 18,409,705 | $226M | 18.8% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-02 | Paunovich Vukasin | Chief Technology Officer | 42,067 | $541K | 17% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-14 | Deluca Teresa | Director | 7,500 | $95K | 7.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-13 | Deluca Teresa | Director | 20,441 | $250K | 16.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-11 | Burdick Kenneth A | Director | 500,000 | $5.8M | 14.2% | No | Too little history (no open-market trades in 2023) |
| 2026-08-10 | Paunovich Vukasin | Chief Technology Officer | 44,394 | $482K | 15.2% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-10 | Tpg Gp A, Llc |  | 13,643,207 | $145M | 12.2% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-10 | Miller Lisa K | Chief Operating Officer | 47,912 | $520K | 14.6% | Yes | Too little history (no open-market trades in 2023) |
| 2026-06-26 | Bessler Robert | Director | 894,337 | $9.1M | 40.9% | Yes | Too little history (no open-market trades in 2023) |
| 2026-05-12 | Bessler Robert | Director | 575,034 | $4.6M | 20.8% | No | Too little history (no open-market trades in 2023) |
| 2026-05-12 | Shuey Eric | Director | 243,362 | $2.0M | 20.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-12 | Black Darren M. | Director | 5,899,661 | $47.3M | 20.2% | No | Too little history (no open-market trades in 2023) |
| 2026-05-12 | Tpg Gp A, Llc |  | 28,281,943 | $227M | 20.2% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-07 | Bessler Robert | Director | 75,000 | $641K | 2.7% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-23…2026-04-24 | Bessler Robert | Director | 69,899 | $492K | 2.5% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-21 | Bessler Robert | Director | 5,101 | $36K | 0.2% | Yes | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 11 analysts; mean target USD 14.4 (low 12, high 18).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-05 | Keybanc | Target raised | Overweight | $13 → $15 |
| 2026-09-10 | Barclays | Target raised | Overweight | $13 → $15 |
| 2026-09-09 | Canaccord Genuity | Target raised | Buy | $13 → $15 |
| 2026-08-19 | BTIG | Target raised | Buy | $16 → $18 |
| 2026-08-14 | JP Morgan | Target raised | Neutral | $9 → $13 |
| 2026-08-07 | BTIG | Target raised | Buy | $15 → $16 |
| 2026-07-24 | BTIG | Target raised | Buy | $12 → $15 |
| 2026-07-21 | Canaccord Genuity | Target raised | Buy | $11 → $13 |
| 2026-07-14 | Barclays | Target raised | Overweight | $9 → $13 |
| 2026-07-13 | Keybanc | Target raised | Overweight | $11 → $13 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +144.4% | +14.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +145.1% | +2.8% |
| Volatility (annualized) | 50.1% | 59.9% |
| Max drawdown | -17.1% (May 2026→Jun 2026) | -71.7% (Nov 2021→Jul 2025) |

## Peers (Medical Care Facilities)
OPCH (Option Care Health, Inc.) USD 31.29 -0.00% · CON (Concentra Group Holdings Parent) USD 39.97 +2.25% · NHC (National HealthCare Corporation) USD 243.07 +3.17% · CHE (Chemed Corp) USD 520.15 +1.72% · PACS (PACS Group, Inc.) USD 47.5 +1.58% · ACHC (Acadia Healthcare Company, Inc.) USD 31.88 +1.43%

## More
Full page: https://nexqual.com/LFST · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.08 | $0.07 | +14.0% | $431.6M | 5 |
| Next quarter (ends 2026-12-31) | $0.09 | $0.08 | +4.6% | $438.6M | 5 |
| Current fiscal year (ends 2026-12-31) | $0.36 | $0.31 | +15.4% | $1.71B | 5 |
| Next fiscal year (ends 2027-12-31) | $0.43 | $0.39 | +9.9% | $1.96B | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±10.7%; last 8 reports averaged ±9.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 45.7% | ±10.7% |
| 2026-12-18 | 56 | 58.7% | ±18.9% |
| 2027-01-15 | 84 | 36.8% | ±14.5% |
| 2027-03-19 | 147 | 49.9% | ±25.5% |
| 2027-04-16 | 175 | 43.3% | ±24.1% |