Planet Fitness Inc (PLNT)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Stockholders' equity of minus $483.4 million looks like a red light, but it is not a substance finding here: it stems from share buybacks charged against the accumulated deficit, not from losses. The company has been profitable for years, covers its interest 3.6 times, met every covenant as of March 31, 2026, has both credit facilities undrawn and sits at 3.64 on the Altman Z-score, inside the safe zone. There is no going-concern flag and no accounting breach. Green it is not, either: with no equity cushion, every year has to be financed out of the operating business, the income streams are pledged to creditors, and the decisive operating question is open — same club sales growth halved from 6.1 to 3.5 percent in the first quarter of 2026 while the revenue jump came from an equipment replacement cycle. Hence yellow: proven earnings power, open growth question, no buffer. The decision is yours.
symbol.quality_note
Planet Fitness earns money like clockwork: $1,324.1 million of revenue in 2025, $220.3 million of net income, $418.4 million of operating cash flow. Yet the balance sheet as of December 31, 2025, shows stockholders' equity of minus $483.4 million. The annual report says why: two accelerated share repurchases alone were booked straight into the accumulated deficit for $630.0 million — most recently at an average price of $108.76 per share, while the whole company was worth about $4.1 billion in late July 2026. Not investment advice — just the question of what is left of a company that bought itself back.
Read the analysis
Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at PLNT since then.
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Appears in These Scanners
This stock currently matches 9 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 55.90 $ — 18% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralKünstliche Intelligenz kommt in den sechs geprüften Berichten ausschließlich als allgemeiner Risikohinweis vor („Übernahme oder Nichtübernahme“) — kein KI-Produkt, keine KI-Umsatzquelle und kein belegter operativer Einsatz im Franchise-, Club- oder Gerätegeschäft.
View the full file — quotes, sources, reviewed filings
„Our adoption or non-adoption of artificial intelligence could result in an adverse impact on our performance or reputation or otherwise result in liability."
Unsere Übernahme oder Nichtübernahme künstlicher Intelligenz könnte sich nachteilig auf unsere Leistung oder unseren Ruf auswirken oder anderweitig zu einer Haftung führen.
„In light of the increased public interest and technological advancements in artificial intelligence and other similar technologies, our failure to efficiently incorporate such technologies into our business may result in the deterioration of our financial performance."
Angesichts des gestiegenen öffentlichen Interesses und der technologischen Fortschritte bei künstlicher Intelligenz und ähnlichen Technologien kann ein Versäumnis, solche Technologien wirksam in unser Geschäft einzubinden, zu einer Verschlechterung unserer Finanzlage führen.
Filings Reviewed: 10-Q 2026-05-07 · 10-K 2026-02-25 · 10-Q 2025-11-07 · 10-Q 2025-08-07 · 10-Q 2025-05-09 · 10-K 2025-02-25
Rated on July 26, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 20.5% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 20
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 3.20 | 3.05 – 3.26 | 1,419 | 4.1% | 18 |
| 12/31/2027 | 3.59 | 2.97 – 4.00 | 1,528 | 12.3% | 18 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.85 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.56 | 36.00 | 340 | 19.40 | 13.80 | 49 | 7 |
| 2025: Q1 | 0.50 | 26.10 | 277 | 11.50 | 15.10 | 134 | 109 |
| 2025: Q2 | 0.69 | 23.10 | 341 | 13.30 | 17.00 | 44 | 10 |
| 2025: Q3 | 0.70 | 41.70 | 330 | 13.00 | 17.80 | 132 | 77 |
| 2025: Q4 | 0.72 | 29.40 | 376 | 10.50 | 16.00 | 109 | 59 |
| 2026: Q1 | 0.65 | 30.30 | 337 | 21.90 | 15.30 | 148 | 122 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 378 | 116 | 22 | 0.50 | 109 | -131 | 1,001 |
| 2017 | 430 | 148 | 33 | 0.42 | 131 | -119 | 1,092 |
| 2018 | 573 | 184 | 88 | 1.00 | 184 | -375 | 1,353 |
| 2019 | 689 | 233 | 118 | 1.41 | 204 | -706 | 1,717 |
| 2020 | 407 | 60 | -15 | -0.19 | 31 | -706 | 1,850 |
| 2021 | 587 | 143 | 43 | 0.51 | 189 | -645 | 2,016 |
| 2022 | 937 | 230 | 99 | 1.18 | 240 | -199 | 2,855 |
| 2023 | 1,071 | 273 | 138 | 1.62 | 330 | -116 | 2,970 |
| 2024 | 1,182 | 324 | 172 | 2.00 | 344 | -215 | 3,070 |
| 2025 | 1,324 | 395 | 219 | 2.62 | 418 | -483 | 3,103 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Of 2,909 clubs as of March 31, 2026, 2,617 belong to franchisees — construction, rent and payroll are somebody else's problem. That produced a 29.8 percent operating margin in 2025 ($394.7 million of $1,324.1 million) and recurring royalties of $314.6 million. At $15 and $24.99 per month against an industry average of $69 (2024), the brand sits at the bottom of the price range, where consumer slowdowns hurt least.
Net income rose three years running: $147.0 million (2023), $174.2 million (2024), $220.3 million (2025). Operating cash flow reached $418.4 million in 2025 against $163.7 million of capital expenditures, and $147.5 million in the first quarter of 2026. Interest of $108.2 million is covered 3.6 times by income from operations.
As of December 31, 2025, the balance sheet showed stockholders' equity of minus $483.4 million (12/31/2024: minus $215.4 million), and minus $482.8 million as of March 31, 2026. The cause is not losses but buybacks: $630.0 million from two accelerated programs alone ($280.0 million in 2024, $350.0 million in 2025) were charged against the accumulated deficit of $1,107.4 million. There is no substance buffer for a weak year.
$2,514.2 million of notes run through a securitization into which, per the annual report, most domestic income streams were transferred and pledged to bankruptcy-remote subsidiaries. All covenants were met as of March 31, 2026, and both $75 million facilities were undrawn — but the refinancing dates from December 2029 onward are not automatic.
Roughly $925 million went into own shares in three years: $125.0 million (2023), $300.0 million (2024), $500.0 million (2025), plus $50.0 million in the first quarter of 2026. The December program averaged $108.76 per share, while market value as of July 24, 2026, equated to about $52 per share. $450.0 million of the program remained open as of March 31, 2026.
The first quarter of 2026 delivered 21.9 percent revenue growth — but $34.3 million of the $60.6 million increase came from equipment sales to franchisees, a replacement cycle. Same club sales growth fell system-wide from 6.1 to 3.5 percent. Against that stand about 750 contractually committed new clubs as of March 31, 2026, and a Black Card share of 66.5 percent.
Planet Fitness is a highly profitable franchise business with no balance-sheet cushion. In its favor: a 29.8 percent operating margin, $220.3 million of net income and $418.4 million of operating cash flow in 2025, interest covered 3.6 times, and about 750 committed new clubs. Against it: stockholders' equity of minus $483.4 million, $2,514.2 million of securitized debt backed by the income streams themselves, $415.8 million of obligations under the tax benefit arrangements, and core growth that halved from 6.1 to 3.5 percent in the first quarter of 2026. Buying here means buying a cash stream, not substance. Not investment advice.
- The hook was our in-house stock scanner: Planet Fitness appears in the U.S. selection of the "Piotroski F-Score (7–9)" screen with a score of 7 of 9 (16 U.S. hits as of July 26, 2026). On the same day the stock also sat on eight further lists — Quality Growth, EPS Acceleration and the price-to-cash-flow ranking on the fundamental side, Bullish Reversal Bar and Oops Reversal on the price side. These lists are recomputed daily.
- All valuation figures carry a data cut-off of July 24, 2026, and should be read as orders of magnitude; analyses are evergreen and daily prices are not a buy argument. The $108.76 anchor is not a market price but the volume-weighted average repurchase price of the December 2025 program as documented in the annual report.
- Metric trap: the price-to-book ratio of 139 (data as of July 24, 2026) is meaningless with negative equity, as is return on equity. Only earnings, cash flow and enterprise-value measures carry information here.
About the Company
Planet Fitness, Inc. vergibt gemeinsam mit ihren Tochtergesellschaften Franchiselizenzen und betreibt Fitnesscenter unter der Marke Planet Fitness.
| Employees | 4,393 |
|---|---|
| Headquarters | Hampton, NH |
| Address | 4 Liberty Lane West, 03842 Hampton, United States |
| Phone | 603 750 0001 |
| Website | planetfitness.com |
| IPO Date | 6. Aug 2015 |
| ISIN | US72703H1014 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Colleen Keating | CEO & Director | 1969 |
| William Bode | Chief Operating Officer | 1961 |
| Brian Povinelli | Chief Marketing Officer | 1970 |
| Jennifer Simmons | Chief Strategy Officer | 1970 |
| Sudhanshu Shekhar Priyadarshi | CFO & President of International | 1977 |
| Brian M. O'Donnell CPA | Senior VP & Chief Accounting Officer | 1979 |
| Paul Barber | Chief Information Officer | – |
| Stacey Caravella | Vice President of Investor Relations | – |
| Sarah E. Powell Esq. | General Counsel & Secretary | 1967 |
| McCall Gosselin | Chief Corporate Affairs Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.