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Planet Fitness, Inc. (PLNT) stock

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NYSE: PLNT NYSE Leisure Facilities Next results ~November 5, 2026

B Fundamentals grade

Planet Fitness, Inc. is a US-listed company in the leisure facilities industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 42% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 42% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Planet Fitness, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 1 selling4 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds232 adding, 246 cuttingOf 74 active managers that changed their stake, 41 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Planet Fitness files

Where Planet Fitness stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.41bn, up 12.7% on a year earlier, slower than 14.4% a quarter earlier. Free-cash-flow margin rose to 18.6% from 16.3% a year earlier. Operating margin widened to 30.9% from 28.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 1 of our 4 financial-health checks. At that price, our model says the market is pricing in about 10.2% a year of cash-flow growth for five years, slower than the 19.1% a year revenue growth it has delivered.

Our model value for Planet Fitness is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Planet Fitness, Inc.'s trailing-twelve-month revenue grew 12.7% year on year, with a free-cash-flow margin of 18.6%. Where it stands out: operating margin of 30.9% ranks 1 of 16 leisure facilities companies we cover. Where it lags: long-term debt as % of assets of 81.5% ranks 10 of 12 leisure facilities companies we cover.

Our discounted-cash-flow model values the business at ~$87 per share in the base case (~$59–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Gross margin compressing: TTM gross margin fell to 81.7%, down 1.7pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 30.9% of revenue is left as operating profit, against a median of 6.4% for leisure facilities companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 6 November; the share price can move sharply on the day.
  • High debt. Long-term debt exceeds cash by $2.2bn, more than 1.5 times annual revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 0.2 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 81.5% ranks 10 of 12 leisure facilities companies we cover (median 54.9%).
  • Below peers: change in growth rate. Change in growth rate of -1.7pp ranks 14 of 17 leisure facilities companies we cover (median -0.0pp).
  • Heavily shorted. 14.7% of the shares available to trade are sold short (3.0 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.88 against an average estimate of $0.85: beat by 3.9%
Revenue
$365m, up 7.1% on a year earlier
Share reaction
-11.6% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
system-wide same club sales growth growth 1% (the year ending December 31, 2026); revenue growth 7% (the year ending December 31, 2026)
Next report
November 5, 2026; average EPS estimate $0.81

Planet Fitness' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.9%
  • 1 week+6.1%
  • 1 month+31.2%
  • This year-48.7%
  • 1 year-38.6%
  • 5 years-32.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.4B
Operating margin
30.9%
Net margin
16.9%

Growth

Revenue growth
+12.7%
Change in growth rate
−1.7 pts

Cash

Free cash flow (TTM)
$262M
FCF margin
18.6%
Stock pay % of revenue
0.9%

Earnings

Last results
August 6, 2026
Next results (est.)
November 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Announcement
  4. Results
  5. Guidance
  6. Results
  7. Deal
  8. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Planet Fitness, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 42% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Planet Fitness, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.72 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$53 ~$48–$85 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Planet Fitness, Inc. with Leisure Facilities in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

88 /100

Strong moat

How hard Planet Fitness's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 24.5% of total assets over 10 years.

  • Pricing power 16 / 20

    Gross margin has been a median 77.4%, moving by 6.1 percentage points (standard deviation) across 10 years.

  • Durability 19 / 20

    Operating margin has been a median 27.5%; its worst year was 23.7%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 18.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (92 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $349m and EPS of $0.81 (range $0.76 to $0.86) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.26 +6% $1.4bn +8%
Next $3.66 +12% $1.5bn +7%

Next year's EPS estimate has moved +2.2% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.1% on 90 days ago. In the last 30 days, 0 analysts raised Planet Fitness, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Planet Fitness, Inc., last 90 days
$3.00 $3.20 $3.40 $3.60 $3.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.20 Current fiscal year, 60 days ago: $3.26 Current fiscal year, 30 days ago: $3.26 Current fiscal year, 7 days ago: $3.26 Current fiscal year, Now: $3.26 $3.26 Next fiscal year, 90 days ago: $3.58 Next fiscal year, 60 days ago: $3.66 Next fiscal year, 30 days ago: $3.66 Next fiscal year, 7 days ago: $3.66 Next fiscal year, Now: $3.66 $3.66

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.20$3.58
60 days ago $3.26$3.66
30 days ago $3.26$3.66
7 days ago $3.26$3.66
Now $3.26$3.66

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.85 $0.88 +3.9%
Mar 2026 $0.63 $0.74 +17.6%
Dec 2025 $0.79 $0.83 +4.8%
Sept 2025 $0.74 $0.80 +8.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Revenue the year ending December 31, 2026 about 7% growth Maintained
    “Revenue to increase approximately 7%” source
  • Adjusted net income per share, diluted the year ending December 31, 2026 about 6% growth Non-GAAP Raised
    “Adjusted net income per share, diluted to increase approximately 6% (previously approximately 4%) , based on adjusted diluted weighted-average shares outstanding of approximately 77.0 million (previously approximately 79.0 million) , inclusive of the shares repurchased through the second quarter of 2026” source
  • System-wide same club sales growth the year ending December 31, 2026 about 1% growth Maintained
    “System-wide same club sales growth of approximately 1%” source
  • Adjusted EBITDA the year ending December 31, 2026 about 6% growth Non-GAAP Maintained
    “Adjusted EBITDA to increase approximately 6%” source
  • New equipment placements the year ending December 31, 2026 150 to 160 Maintained
    “New equipment placements of approximately 150 to 160 in franchisee-owned locations” source
  • System-wide new club openings the year ending December 31, 2026 180 to 190 Maintained
    “System-wide new club openings of approximately 180 to 190 locations” source
Show 5 more items
  • Capital expenditures the year ending December 31, 2026 10% growth to 15% growth Maintained
    “Capital expenditures to increase approximately 10% to 15%” source
  • Depreciation and amortization the year ending December 31, 2026 about 10% growth Maintained
    “Depreciation and amortization to increase approximately 10%” source
  • Adjusted diluted weighted-average shares outstanding the year ending December 31, 2026 about 77m Non-GAAP Lowered
    “Adjusted net income per share, diluted to increase approximately 6% (previously approximately 4%) , based on adjusted diluted weighted-average shares outstanding of approximately 77.0 million (previously approximately 79.0 million) , inclusive of the shares repurchased through the second quarter of 2026” source
  • Net interest expense the year ending December 31, 2026 about $115m Raised
    “Net interest expense to be approximately $115.0 million (previously approximately $111.0 million )” source
  • Adjusted net income the year ending December 31, 2026 about 3% growth Non-GAAP Lowered
    “Adjusted net income to decrease approximately 3% (previously approximately 2%)” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

17 analysts, Oct 2026
Buy1165%
Hold635%
Sell00%

Monthly trend

  1. Oct 202638617
  2. Sep 202639618
  3. Aug 202639618
  4. Jul 202639719

Counts of recommendations published by analysts covering Planet Fitness, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
14.7%
of tradable shares
Days to cover
3
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.5%
of shares
Employees
4,393
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PLNT+17%−13%−7%+35%+10%−49%
Industry peers (median)+18%−18%+1%+5%−21%−42%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PLNT50%33%58%58%50%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PLNT−22%−42%−48%−25%−21%−63%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 69% from February 20, 2020 to March 18, 2020. Getting back needed a 220% gain, reached on February 24, 2021, 343 days after the low.

Price behaviour

52-week range
$40.50 – $111.97
From 52-week high
−50.3%
vs 50-day average
+14.0%
vs 200-day average
−9.9%
Volatility (1 year)
50%
Beta vs S&P 500
0.25

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±10.5%
After a week
5 up, 7 down
typical move ±10.2%
After a month
7 up, 5 down
typical move ±12.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −11.6% +0.5% −13.2% −10.1%
May 7, 2026 −28.3% +0.5% −19.5% −20.7%
February 24, 2026 −11.8% +1.6% −8.7% −17.2%
November 6, 2025 +16.0% −1.0% +16.8% +19.0%
August 6, 2025 −3.6% +0.7% −1.9% −4.4%
May 8, 2025 −8.8% +0.6% −3.7% +0.9%
February 25, 2025 −8.7% −0.4% −4.0% +1.4%
November 7, 2024 +12.6% +1.2% +13.7% +16.6%
August 6, 2024 +5.2% +0.2% +11.0% +13.5%
May 9, 2024 +5.0% +0.7% +5.7% +15.2%
February 22, 2024 −3.3% +2.1% −5.8% −9.0%
November 7, 2023 +11.6% +0.4% +18.1% +23.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Planet Fitness, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Planet Fitness, Inc.
$1B $1.1B $1.2B $1.3B $1.4B $1.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.1B Revenue (TTM), FY23 Q4: $1.1B Revenue (TTM), FY24 Q1: $1.1B Revenue (TTM), FY24 Q2: $1.1B Revenue (TTM), FY24 Q3: $1.1B Revenue (TTM), FY24 Q4: $1.2B Revenue (TTM), FY25 Q1: $1.2B Revenue (TTM), FY25 Q2: $1.3B Revenue (TTM), FY25 Q3: $1.3B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.4B Revenue (TTM), FY26 Q2: $1.4B $1.4B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.1B
FY23 Q4 $1.1B
FY24 Q1 $1.1B
FY24 Q2 $1.1B
FY24 Q3 $1.1B
FY24 Q4 $1.2B
FY25 Q1 $1.2B
FY25 Q2 $1.3B
FY25 Q3 $1.3B
FY25 Q4 $1.3B
FY26 Q1 $1.4B
FY26 Q2 $1.4B
Revenue growth, TTM YoY Planet Fitness, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 27.2% Revenue growth, TTM YoY, FY23 Q4: 14.4% Revenue growth, TTM YoY, FY24 Q1: 12.8% Revenue growth, TTM YoY, FY24 Q2: 7.5% Revenue growth, TTM YoY, FY24 Q3: 5.5% Revenue growth, TTM YoY, FY24 Q4: 10.3% Revenue growth, TTM YoY, FY25 Q1: 10.3% Revenue growth, TTM YoY, FY25 Q2: 12.5% Revenue growth, TTM YoY, FY25 Q3: 14.4% Revenue growth, TTM YoY, FY25 Q4: 12.1% Revenue growth, TTM YoY, FY26 Q1: 14.4% Revenue growth, TTM YoY, FY26 Q2: 12.7% 12.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 27.2%
FY23 Q4 14.4%
FY24 Q1 12.8%
FY24 Q2 7.5%
FY24 Q3 5.5%
FY24 Q4 10.3%
FY25 Q1 10.3%
FY25 Q2 12.5%
FY25 Q3 14.4%
FY25 Q4 12.1%
FY26 Q1 14.4%
FY26 Q2 12.7%
Operating margin (TTM) Planet Fitness, Inc.
24% 26% 28% 30% 32% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 24.9% Operating margin (TTM), FY23 Q4: 25.5% Operating margin (TTM), FY24 Q1: 26.1% Operating margin (TTM), FY24 Q2: 26.7% Operating margin (TTM), FY24 Q3: 27.2% Operating margin (TTM), FY24 Q4: 27.4% Operating margin (TTM), FY25 Q1: 27.9% Operating margin (TTM), FY25 Q2: 28.2% Operating margin (TTM), FY25 Q3: 29.4% Operating margin (TTM), FY25 Q4: 29.8% Operating margin (TTM), FY26 Q1: 29.9% Operating margin (TTM), FY26 Q2: 30.9% 30.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 24.9%
FY23 Q4 25.5%
FY24 Q1 26.1%
FY24 Q2 26.7%
FY24 Q3 27.2%
FY24 Q4 27.4%
FY25 Q1 27.9%
FY25 Q2 28.2%
FY25 Q3 29.4%
FY25 Q4 29.8%
FY26 Q1 29.9%
FY26 Q2 30.9%
FCF margin (TTM) Planet Fitness, Inc.
15% 16% 17% 18% 19% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 18.5% FCF margin (TTM), FY23 Q4: 18.1% FCF margin (TTM), FY24 Q1: 16.7% FCF margin (TTM), FY24 Q2: 16.7% FCF margin (TTM), FY24 Q3: 17.2% FCF margin (TTM), FY24 Q4: 16.0% FCF margin (TTM), FY25 Q1: 19.5% FCF margin (TTM), FY25 Q2: 16.3% FCF margin (TTM), FY25 Q3: 15.7% FCF margin (TTM), FY25 Q4: 19.2% FCF margin (TTM), FY26 Q1: 19.2% FCF margin (TTM), FY26 Q2: 18.6% 18.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 18.5%
FY23 Q4 18.1%
FY24 Q1 16.7%
FY24 Q2 16.7%
FY24 Q3 17.2%
FY24 Q4 16.0%
FY25 Q1 19.5%
FY25 Q2 16.3%
FY25 Q3 15.7%
FY25 Q4 19.2%
FY26 Q1 19.2%
FY26 Q2 18.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Planet Fitness took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.3B
  2. Cost of revenue $230M · 17.4%
  3. Gross profit $1.1B · 82.6%
  4. Selling, general and admin $138M · 10.4%
  5. Other operating costs $562M · 42.4%
  6. Operating income $395M · 29.8%
  7. Income tax $85.9M · 6.5%
  8. Interest and other $89.7M · 6.8%
  9. Net income $219M · 16.5%

Shares of revenue. Source: Planet Fitness's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 211 280 331 378 430 573 689 407 587 937 1,071 1,182 1,324 1,409
Gross profit 130 179 217 256 301 410 494 — 486 760 881 985 1,094 1,151
EBITDA 65 94 104 147 179 219 277 114 206 354 422 485 550 595
Operating income 36 62 72 116 148 184 233 60 143 230 273 324 395 436
Net income 25 37 19 22 33 88 118 −15 43 99 138 172 219 238
Growth (year on year)
Revenue — +32.6% +18.1% +14.4% +13.7% +33.3% +20.2% −41.0% +44.4% +59.6% +14.4% +10.3% +12.1% +12.7%
EBITDA — +44.8% +11.1% +41.2% +21.8% +22.3% +26.5% −59.1% +81.5% +71.7% +19.3% +14.7% +13.6% +16.6%
Operating income — +70.8% +17.2% +60.4% +27.6% +24.7% +26.6% −74.4% +140.0% +60.5% +18.6% +18.8% +21.7% +23.5%
Net income — +44.7% −49.7% +16.1% +54.2% +165.6% +33.7% −112.7% — +132.4% +39.1% +24.4% +27.4% +25.9%
Margins
Gross margin 61.4% 64.1% 65.7% 67.7% 69.9% 71.6% 71.8% — 82.8% 81.1% 82.3% 83.3% 82.6% 81.7%
EBITDA margin 30.7% 33.6% 31.5% 38.9% 41.7% 38.3% 40.3% 27.9% 35.1% 37.8% 39.4% 41.0% 41.6% 42.2%
Operating margin 17.1% 22.0% 21.8% 30.6% 34.3% 32.1% 33.8% 14.7% 24.4% 24.6% 25.5% 27.4% 29.8% 30.9%
Net margin 12.1% 13.2% 5.6% 5.7% 7.7% 15.4% 17.1% −3.7% 7.3% 10.6% 12.9% 14.6% 16.5% 16.9%
Free-cash-flow margin 28.3% 22.4% 18.8% 24.7% 21.7% 25.1% 21.3% −5.3% 23.0% 15.0% 18.1% 16.0% 19.2% 18.6%
Cash flow
Cash from operations 67 79 82 109 131 184 204 31 189 240 330 344 418 434
Capital spending 7 17 19 15 38 41 58 53 54 100 136 155 164 172
Free cash flow 60 63 62 93 93 144 146 −21 135 140 194 189 255 262
Stock-based pay — — 5 2 3 5 5 5 9 8 8 9 12 12
Free cash flow after stock pay — — 57 92 91 138 142 −26 126 132 186 180 242 249
Balance sheet
Cash 31 43 31 40 113 289 436 439 546 410 276 293 346 298
Total debt 0 380 492 717 — 1,197 1,735 1,793 1,775 2,025 2,004 2,196 2,514 2,549
Net debt (negative = net cash) −31 336 461 676 −113 908 1,299 1,353 1,229 1,615 1,729 1,903 2,169 2,251
Returned to shareholders
Dividends — — — 169 0 0 — — — — — — — —
Buybacks — — — 2 — 342 458 0 0 94 125 300 500 700
Total returned — — — 171 0 342 458 0 0 94 125 300 500 700

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 4 checks passed · June 30, 2026
What it owns · $3.0bn
Short-term assets $628mLonger-term assets $2.4bn
What it owes, and who funded it · $397m
Short-term liabilities $397mShareholders' equity $-613m
  • Short-term assets cover short-term liabilities $628m of assets due within a year against $397m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $298m of cash against $2.5bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $434m of operating cash flow against $2.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $436m against $122m of interest.

From Planet Fitness, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$700M
Returned to shareholders
267%
of free cash flow
Buybacks, last 3 fiscal years
$926M
Total shareholder yield
16.7%
dividends 0.0% + buybacks 16.7% of market value
Sales & admin spending
9.7%
of revenue
Days sales outstanding
17 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in leisure facilities
Last 12 months unless stated PLNT LUCK PRKS OSW MTN FUN Median
Revenue, last 12 months $1.4bn $1.2bn $1.6bn $1.0bn $2.8bn $3.1bn $483m
Revenue growth, last 12 months 12.7% 3.7% −3.5% 9.8% −4.3% −3.5% 6.1%
Revenue growth, 3-year average 10.9% 5.6% −1.9% 10.2% −0.6% — 5.6%
Revenue growth, latest quarter 7.1% 0.9% −1.4% 7.0% 2.5% −7.0% 6.9%
Gross margin 81.7% 27.2% — — — 91.4% 47.9%
Operating margin 30.9% 11.0% 19.2% 9.1% 14.8% −44.2% 6.2%
Operating margin, 3-year average 28.6% 10.1% 24.1% 8.8% 16.9% −8.2% −0.4%
Net margin 16.9% −2.9% 8.1% 8.3% 5.2% −57.3% 5.2%
Cash from operations / revenue 30.8% 8.3% 24.9% 10.5% 16.9% 15.4% 10.5%
Free-cash-flow margin 18.6% −0.8% 10.0% 9.2% 8.7% 4.9% −1.1%
Free-cash-flow margin, 3-year average 17.2% −0.4% 11.9% 8.2% 10.9% 2.5% 0.4%
Stock pay / revenue 0.9% 1.0% 1.2% 1.0% 1.0% 2.0% 1.5%
Change in share count — −4.1% −8.1% −2.1% −3.8% — 3.1%

Median of all 17 companies we cover in leisure facilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 leisure facilities companies
Measure Company Peer median Rank
Revenue growth Growth 12.7% 6.1% 6 of 17
Change in growth rate Growth -1.7pp -0.0pp 14 of 17
Gross margin Profitability 81.7% 57.6% 3 of 8
Operating margin Profitability 30.9% 6.4% 1 of 16
Net margin Profitability 16.9% 5.2% 1 of 17
Free-cash-flow margin Cash generation 18.6% -1.1% 1 of 17
Stock pay as % of revenue Cash generation 0.9% 1.5% 2 of 15
Long-term debt as % of assets Balance sheet 81.5% 54.9% 10 of 12
Days sales outstanding Balance sheet 17 days 22 days 4 of 13

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Corporate Owned Club $546M 41.2% ▲ 8.7%
Franchise $468M 35.3% ▲ 10.6%
Equipment $310M 23.4% ▲ 21.1%
Products and services
Line of business Revenue Share YoY
Corporate Owned Clubs $546M 41.2% ▲ 8.7%
Franchise $381M 28.8% ▲ 10.6%
Equipment Revenue $310M 23.4% ▲ 21.1%
Advertising $87M 6.6% ▲ 10.2%
Geography
Region Revenue Share YoY
Americas $1.3B 97.0% ▲ 12.5%
Outside the US $39.5M 3.0% ▼ 1.5%

From Planet Fitness, Inc.'s 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.5B
Institutions reporting
422
Shares held vs prior quarter
▼ 2.7%
Positions opened / closed
93 / 97

Top buyers and sellers, Q2 2026: 232 institutions bought and 246 sold ; the biggest buyer was D. E. Shaw & Co., Inc (+2.2M shares) and the biggest seller T. Rowe Price Investment Management, Inc (−3.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $435M 8.3M 9.6% ▼ 15.8%
T. Rowe Price Investment Management, Inc. $435M 8.3M 9.6% ▼ 28.4%
SRS Investment Management, LLC $257M 4.9M 5.6% ▲ 0.6%
Vanguard Portfolio Management LLC $191M 3.7M 4.2% ▼ 0.5%
Vanguard Capital Management LLC $187M 3.6M 4.1% ▼ 0.9%
Dorsal Capital Management, LP $145M 2.8M 3.2% ▲ 9.9%
AQR Capital Management LLC $138M 2.6M 3.0% ▲ 128.1%
State Street Corp $130M 2.5M 2.9% ▼ 0.5%
D. E. Shaw & Co., Inc. $128M 2.5M 2.8% ▲ 820.2%
Steadfast Capital Management LP $109M 2.1M 2.4% ▼ 6.0%
Corvex Management LP $98.8M 1.9M 2.2% New
Millennium Management LLC $93.8M 1.8M 2.1% ▲ 496.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Planet Fitness, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1.1M 4 trades by 4 insiders, last 12 months Insider sales History → $358,540 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $732,273 net buying
Insider Date Trade Shares Price Value
Tanco Christopher Director September 14, 2026 Buy 2,328 $51.23 $119,263
Bode William Chief Operating Officer September 14, 2026 Sell 7,000 $51.22 $358,540
Spinelli Stephen Jr Director August 10, 2026 Buy 10,000 $49.28 $492,800
Keating Colleen Chief Executive Officer May 12, 2026 Buy 5,000 $49.54 $247,700
Rathke Frances G Director May 8, 2026 Buy 5,000 $46.21 $231,050

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 29 trades and filings

No trades in Planet Fitness, Inc. disclosed in the last 12 months; 29 earlier trades on record.

  • Susie Lee(D-NV 3):Sale (full), $1,001 - $15,000, traded November 30, 2022, filed December 29, 2022
  • Susie Lee(D-NV 3):Purchase, $1,001 - $15,000, traded July 13, 2021, filed August 13, 2021
  • Susie Lee(D-NV 3):Purchase, $1,001 - $15,000, traded May 26, 2021, filed June 14, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 6, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 24, 2026
  • November 6, 2025
  • August 6, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Planet Fitness, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Planet Fitness, Inc. in brief

What does Planet Fitness, Inc. do?
Planet Fitness, Inc. is a US-listed company in the leisure facilities industry. Its financial year ends in December.
What is Planet Fitness, Inc.'s stock ticker?
Planet Fitness, Inc. trades under the ticker PLNT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Planet Fitness, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Planet Fitness, Inc. reported revenue of $1.4B, 12.7% higher than a year earlier, according to its SEC filings.
What is Planet Fitness, Inc.'s free cash flow?
Planet Fitness, Inc.'s free-cash-flow margin is 18.6% of revenue over the trailing twelve months, ranking 1 of the 17 leisure facilities companies we cover.
Who are Planet Fitness, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., T. Rowe Price Investment Management, Inc. and SRS Investment Management, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Who are Planet Fitness, Inc.'s competitors?
In our Leisure Facilities peer group, the companies closest to Planet Fitness, Inc. are Lucky Strike Entertainment Corp, United Parks & Resorts Inc., Onespaworld Holdings Ltd, Vail Resorts Inc and Six Flags Entertainment Corporation. The side-by-side comparison below sets their revenue, margins and growth against Planet Fitness, Inc.'s.
Are insiders buying or selling Planet Fitness, Inc. stock?
Over the last 12 months, Planet Fitness, Inc.'s directors and officers reported 4 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Planet Fitness, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Planet Fitness, Inc. announces its own schedule.