| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 19 | 92.6x | 17.8x | Bottom tier | |
Growth | 89 | 20.4% | 7.1% | Top tier | |
Quality | 57 | 3.2% | 4.5% | Around median | |
Safety | 80 | 1.3x | 2.6x | Top tier | |
Capital Return | 81 | — | 2.12% | Top tier | |
Momentum | 99 | 86.8% | 2.9% | Top tier | |
Sentiment | 24 | 4 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
LifeStance Health Group operates an outpatient mental healthcare network in the United States, providing psychotherapy, psychiatry, and neuropsychological testing services, in addition to TMS and Spravato for treatment-resistant depression. Revenue growth depends on increasing visit volumes, expanding the base of clinicians and specialists, and raising revenue per visit through payer contracts, while leveraging existing centers and geographic expansion; the company was present in 33 states and approximately half of the 150 largest U.S. markets as of August 6, 2026.
In fiscal Q2 2026, revenue increased 26% to $435 million, driven by a 19% increase in visit volumes to 2.6 million visits and a 6% rise in total revenue per visit to $167. The number of clinicians reached 8,542 after adding 193 clinicians during the quarter, representing an 11% year-over-year increase, while average visits per clinician also rose 7% for the third consecutive quarter.
Profitability improved significantly in fiscal Q2 2026; center margin increased 41% to $153 million, or 35.2% of revenue, and adjusted earnings before interest, taxes, depreciation, and amortization jumped 94% to $66 million, with a margin of 15.2%, an increase of more than 500 basis points year over year. Net income reached $24 million, an improvement of $27 million, while free cash flow reached $88 million compared with $57 million in the corresponding period, with strong collections and favorable payroll timing contributing to the cash result.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $13.29, compared with a wide target range of $9 to $19 and a consensus rating of “Buy,” while the average is only approximately 2.5% above the 52-week range high of $12.965. The absence of a displayed price-to-earnings ratio, despite trailing twelve-month earnings per share of approximately $0.059, reflects that the valuation depends heavily on continued revenue growth and margin expansion; the large gap between the lowest and highest targets also reveals material uncertainty regarding the speed at which this can be achieved.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Revenue increased 26% to $435 million in fiscal Q2 2026. Visit volumes increased 19% to 2.6 million visits, while total revenue per visit rose 6% to $167. The company also added 193 clinicians, bringing the total to 8,542, and visits per clinician increased 7% year over year for the third consecutive quarter.
The company raised its revenue range to $1.685–1.725 billion, with the midpoint indicating year-over-year growth of approximately 20%. It raised its center margin range to $570–594 million and its adjusted earnings before interest, taxes, depreciation, and amortization range to $215–235 million. The midpoint of the adjusted earnings range implies a margin of 13.2% and year-over-year expansion of more than 200 basis points.
TMS and Spravato are among the services for treating treatment-resistant depression, alongside the neuropsychological testing business. Specialty services generated approximately $50 million in revenue in fiscal 2025, and management expects them to grow by approximately 40% in fiscal 2026. The company added Spravato locations and new treatment chairs during fiscal Q2 2026, but described the expansion process as still being in the early stages of testing and improving the operating model.
The company reported net income of $24 million in fiscal Q2 2026, an improvement of $27 million from the corresponding period. Adjusted earnings before interest, taxes, depreciation, and amortization reached $66 million, with a margin of 15.2%, representing year-over-year expansion of more than 500 basis points. Free cash flow also reached $88 million, but benefited from payroll timing, with payments of approximately $60 million, including payroll and the 401(k) plan match, expected to affect fiscal Q3 2026.
During fiscal 2026, LifeStance began preparing to transition to a new EHR provider, with implementation planned to begin in fiscal 2027. Management expects the system to improve front- and back-office operations, the patient and clinician experience, and provide better tools and data for clinical care. Conversely, implementation will occur in waves because there are more than 8,500 clinicians, and management acknowledged the possibility of a short-term decline in productivity during the transition.
The average analyst target is $13.29, with a low target of $9 and a high target of $19, and a consensus rating of “Buy.” The average target is slightly above the 52-week range high of $12.965, while the range starts at $4.77. No specific price-to-earnings ratio appears in the data despite trailing twelve-month earnings per share of approximately $0.059, so the valuation is primarily linked to the company’s ability to maintain approximately 20% revenue growth in fiscal 2026 and achieve its targeted margin expansion.
