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Life Time Fitness, Inc. (LTM)

Life Time Fitness, Inc. (LTM). By Liam Garrity-Rokous. Buy Pitch. Life Time Fitness Overview. Market Cap: $2.01B Share Price (Friday 3/14/2014): $49.30 Description: The company mainly owns and operates health clubs that offer a variety of services Number of Centers: 109 P/E: 16.8

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Life Time Fitness, Inc. (LTM)

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  1. Life Time Fitness, Inc. (LTM) By Liam Garrity-Rokous Buy Pitch

  2. Life Time Fitness Overview • Market Cap: $2.01B • Share Price (Friday 3/14/2014): $49.30 • Description: The company mainly owns and operates health clubs that offer a variety of services • Number of Centers: 109 • P/E: 16.8 • Forward P/E: 13.3 • Major Domestic Competitors: Town Sports International Holdings, Inc. (CLUB)

  3. Investment Thesis • LTM has a created a high barrier to entry in a low barrier to entry industry • LTM has a very attractive long-term growth profile • LTM outperforms all of its competitors in the long-term and the company at an attractive valuation with a strong change of high returns

  4. A High Barrier To Entry In A Low Barrier To Entry Industry • Explanation of why point number one means we should buy this company • Relevant numbers, studies, facts, statistics, etc. that back up point number one • Graphics optional

  5. [Your Point Number One (continued)] The company plans to open six new large format centers in 2014

  6. Attractive Long-Term Growth Profile

  7. LTM’s strong growth has translated into large increase in EBITDA and Net Income

  8. How Has LTM’s Share Price Reacted?

  9. Can LTM Deliver Moving Forward? Quarterly Earnings & Estimates • There have been no negative earningssurprises for last six quarters!

  10. LTM vs. CLUB

  11. Valuation Current Ev/EBITDA =8.05x Average Ev/EBITDA For Last 16 Quarters =9x Bottom Line Estimate = $60

  12. Conclusion • LTM is unique in its size and track record of earnings growth • LTM’s growth will accelerate and allow the company to increase its market share • LTM outperforms all of its competitors in the long-term, it currently trades at an attractive long-term valuation, and it has room for significant share price appreciation in the long-term • THIS IS A GREAT LONG TERM STOCK AND IT IS A “MUST HAVE” FOR ANY PORTFOLIO!

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