Planet Fitness, Inc.PLNT
NYSE•Consumer Cyclical•Leisure
Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Clubs, and Equipment. The Franchise segment includes operations related to the franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia. The Corporate-owned clubs segment includes operations with corporate-owned clubs in the United States, Canada, and Spain. The Equipment segment includes the sale of equipment to franchisee-owned clubs; and the sale of fitness equipment to franchisee-owned clubs in the United States, Canada, and Mexico. Planet Fitness, Inc. was founded in 1992 and is headquartered in Hampton, New Hampshire.
Planet Fitness, Inc. (PLNT) reported trailing twelve months revenue of $1.38B as of March 2026, a 14.4% increase year-over-year. Quarterly revenue reached $337.24M, reflecting continued top-line momentum.
Planet Fitness, Inc. generated $228.79M in TTM net income, with quarterly EBITDA of $98.67M. The operating margin expanded from 28.6% to 29.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (29.3%) and net margin (15.3%) indicates moderate non-operating costs. Net margin has improved from 15.1% a year ago, signaling stronger bottom-line efficiency.
PLNT trades at a P/E of 25.6x (in line with broad market averages) and a P/S of 4.2x.
The company generated $122.02M in free cash flow over the trailing twelve months, a 10.1% increase year-over-year, indicating cash generation ability. The balance sheet shows $3.10B in total assets with $2.45B in long-term debt against $-482.22M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~29.0%, suggesting durable pricing power and cost discipline.
Limited ROE data for a reliable assessment.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~24.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~30.0% — no sign of cost or pricing stress.
FCF covers net income by 1.3x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 8.3% — net buybacks are reducing shares outstanding and boosting per-share value.