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PLNT

Planet Fitness, Inc.

PLNT

Planet Fitness, Inc. • NYSE
$111.97 ▲ 0.12% (+0.13)
Market Cap $9.40 B
52w High $114.47
52w Low $87.72
Dividend Yield 0%
P/E 45.89
Volume 539.11K
Outstanding Shares 83.94M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $330.345M ▼ $30.525M ▼ $58.829M ▲ 17.808% ▲ $0.704 ▲ $152.607M ▲
Q2-2025 $340.879M ▲ $78.84M ▲ $58.019M ▲ 17.02% ▲ $0.69 ▲ $148.463M ▲
Q1-2025 $276.662M ▼ $71.351M ▼ $41.867M ▼ 15.133% ▲ $0.5 ▼ $123.578M ▼
Q4-2024 $340.45M ▲ $76.437M ▲ $47.084M ▲ 13.83% ▼ $0.56 ▲ $134.61M ▲
Q3-2024 $292.246M $73.96M $42.009M 14.375% $0.5 $127.336M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $499.771M ▲ $3.058B ▼ $3.253B ▼ $-194.763M ▼
Q2-2025 $442.721M ▼ $3.119B ▲ $3.277B ▼ $-158.694M ▲
Q1-2025 $453.628M ▲ $3.092B ▲ $3.312B ▲ $-219.89M ▼
Q4-2024 $407.313M ▼ $3.07B ▲ $3.285B ▼ $-215.38M ▲
Q3-2024 $407.412M $3.048B $3.315B $-266.132M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $58.829M ▲ $131.467M ▲ $-35.079M ▲ $-103.497M ▼ $-15.838M ▼ $76.691M ▲
Q2-2025 $58.295M ▲ $43.967M ▼ $-42.863M ▼ $-10.73M ▲ $-8.316M ▼ $9.7M ▼
Q1-2025 $42.079M ▼ $133.927M ▲ $-28.099M ▲ $-55.359M ▼ $50.817M ▲ $109.393M ▲
Q4-2024 $47.563M ▲ $49.131M ▼ $-60.4M ▼ $-3.448M ▼ $-16.875M ▼ $7.038M ▼
Q3-2024 $42.395M $126.794M $-57.875M $2.146M $71.788M $78.171M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Advertising
Advertising
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Equipment Revenue
Equipment Revenue
 $110.00M ▲$30.00M ▼$80.00M ▲$80.00M ▲
Franchise
Franchise
 $90.00M ▲$90.00M ▲$100.00M ▲$90.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Planet Fitness has shown a clear recovery and growth trend over the past several years, moving from a small loss during the pandemic to steadily rising profits. Revenue has climbed each year, and profitability at every major level — from gross profit to operating income and net income — has strengthened. This suggests the business is scaling well, with a model that converts higher sales into higher earnings rather than just growing the top line. The main watchpoint is that it remains tied to discretionary consumer spending, so a weaker consumer or recession could slow this positive trajectory.

Balance Sheet

Balance Sheet The balance sheet is asset‑heavy and debt‑heavy, with consistently negative reported equity. That usually reflects an intentional, highly leveraged capital structure rather than an operational crisis, but it still means the company carries meaningful financial obligations that must be serviced. Cash on hand is solid but not large relative to total debt, so the business depends on continued strong cash generation and access to financing markets. Investors often view this kind of structure as efficient but less conservative, making resilience in a downturn an important consideration.

Cash Flow

Cash Flow Cash flow from operations has grown steadily, now comfortably covering both investment spending and leaving room for positive free cash flow. Capital spending has increased as the company and its franchise base expand and refresh clubs, but this has not overwhelmed the business’s ability to generate cash. The pattern suggests a model that can fund growth largely from internal cash rather than relying entirely on new borrowing. The key risk is that if membership growth slows or margins compress, the cushion between cash in and cash out could narrow, given the ongoing need for club investment and debt service.

Competitive Edge

Competitive Edge Planet Fitness holds a distinctive position in the gym market by targeting casual and first‑time gym users with a low‑cost, non‑intimidating environment. Its “Judgement Free Zone” branding, national advertising, and very simple pricing help it stand out from both budget competitors and more intense, training‑oriented gyms. The franchise model gives it broad scale and local operators who are motivated to grow, while the large network of clubs increases convenience for members. On the risk side, the fitness industry remains crowded and fashion‑driven, with shifting trends toward at‑home workouts, boutique studios, and digital apps, so maintaining brand relevance and franchisee health is critical.

Innovation and R&D

Innovation and R&D The company is leaning into digital tools and data to deepen member engagement, using its app, AI‑driven communication, and personalization features to keep members active and reduce churn. Innovations like real‑time club capacity, digital key tags, equipment tutorials, and personalized workout journeys make the experience smoother and more approachable. At the same time, Planet Fitness is experimenting with club layouts, spa‑like perks for premium members, and programs targeting younger demographics to build long‑term brand affinity. The main uncertainty is execution: translating these ideas into sustained higher usage, better retention, and successful international expansion will take time and consistent investment.

Summary

Overall, Planet Fitness looks like a mature, scalable concept that has moved well past the pandemic shock and is back on a steady growth path. Its earnings and cash flow trends are positive, and its brand, price point, and franchise scale create a meaningful competitive edge in the value segment of fitness. The trade‑off is a balance sheet that leans heavily on debt and a business that remains sensitive to consumer confidence and competition from both physical and digital fitness alternatives. The long‑term story hinges on continued club growth, maintaining its distinctive brand positioning, and successfully using technology to keep members engaged and loyal.

NEWS

November 13, 2025 · 9:20 AM UTC

PLANET FITNESS, INC. DETAILS STRATEGY TO DRIVE NEXT PHASE OF GLOBAL GROWTH AND ANNOUNCES LONG-TERM FINANCIAL TARGETS AT 2025 INVESTOR DAY

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November 10, 2025 · 2:34 PM UTC

Planet Fitness Franchisees Expand Local Footprint with 100th Club Opening in Greater Los Angeles

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November 6, 2025 · 6:30 AM UTC

Planet Fitness, Inc. Announces Third Quarter 2025 Results

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November 5, 2025 · 2:49 PM UTC

Planet Fitness Hosts Seventh Annual FREE Thanksgiving Turkey Giveaway in Atlanta, Nov. 24

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October 30, 2025 · 8:00 AM UTC

PLANET FITNESS, INC. ANNOUNCES UPCOMING INVESTOR DAY ON NOVEMBER 13, 2025

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