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Planet Fitness

PLNT NYSE Leisure Facilities Financials FY2016–FY2025

Planet Fitness' revenue rose 12.1% to $1.3 billion in fiscal 2025. Its operating margin was 29.8%, up from 27.4% a year earlier. Free cash flow was $255 million, up 34.9%. It paid out $500 million in dividends and buybacks, 196% of free cash flow.

Last close · Oct 23, 2026

$52.52

1.4%
Value it Compare
Revenue Total sales reported in the income statement.
$1.3B
12.1% vs prior year
Operating margin Operating income as a share of revenue.
29.8%
2.4 pts
Net income Profit after all expenses, interest and tax.
$219M
27.4%
Free cash flow Cash from operations minus capital spending.
$255M
34.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
18.4%
3.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
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Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. Planet Fitness tags earnings per share and share counts only for its Class A shares, which the SEC's company-level data leaves out, so per-share figures are left blank.

What Planet Fitness does

No business description yet.

Legal name
PLANET FITNESS, INC.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001637207-26-000011
0001637207

Revenue and margins

Planet Fitness had $1.3B of revenue in fiscal 2025, up 12.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $255M in fiscal 2025, 19.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Planet Fitness returned $500M to shareholders in fiscal 2025, 196% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Planet Fitness yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$2.0B and divides by 0.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Planet Fitness can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $546M$410M$351M$407M$452M
Debt incl. finance leases $1.8B$2.0B$2.0B$2.2B$2.5B
Net debt / EBITDA 5.9x4.5x3.9x3.6x3.7x
Interest coverage 1.8x2.6x3.2x3.2x3.7x
Current ratio 3.8x2.3x1.9x2.1x2.1x
Quick ratio 3.7x2.3x1.9x2.1x2.1x
Total assets $2.0B$2.9B$3.0B$3.1B$3.1B
Total liabilities $2.7B$3.1B$3.1B$3.3B$3.6B
Shareholders' equity −$645M−$199M−$116M−$215M−$483M
Net debt (− = net cash) $1.2B$1.6B$1.6B$1.8B$2.0B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$1.1M

4 insiders

Sold, 12 months

$0.4M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 14, 2026 Christopher TancoDirector Bought 2,328 $51.23 $0.1M Form 4
Sep 14, 2026 William BodeChief Operating Officer Sold 7,000 $51.22 $0.4M Form 4
Aug 10, 2026 Stephen Spinelli JRDirector Bought 10,000 $49.28 $0.5M Form 4
May 12, 2026 Colleen KeatingChief Executive Officer, Director Bought 5,000 $49.54 $0.2M Form 4
May 8, 2026 Frances G RathkeDirector Bought 5,000 $46.21 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✕ ✓ ✓
Share count didn't rise — — —
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✕ ✓ ✓
F-score — / 9— / 9— / 9
Accruals ratio −6.6%−5.7%−6.5%
Altman Z'' 0.310.420.28

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Planet Fitness PLNT — 12.1% 29.8% 19.2% 18.4% — —
United Parks & Resorts PRKS $1.4B −3.6% 22.0% 9.8% 16.1% 11.8x 6 Compare →
OneSpaWorld OSW $2.4B 7.4% 8.5% 7.1% 12.7% 30.2x 6 Compare →
Life Time Group LTH $9.5B 14.3% 16.1% −0.7% 8.5% 22.8x 8 Compare →
Six Flags FUN $689M 14.5% −44.4% −4.9% −17.7% — 4 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $378M $430M $573M $689M $407M $587M $937M $1.1B $1.2B $1.3B
Gross profit $256M $301M $410M $494M — $486M $760M $881M $985M $1.1B
Operating income $116M $148M $184M $233M $59.8M $143M $230M $273M $324M $395M
Interest expense $27.1M $35.3M $50.7M $60.9M $82.1M $81.2M $88.6M $86.6M $100M $108M
Pretax income $89.9M $429M $132M $173M −$14.5M $52.0M $161M $208M $247M $309M
Income tax $18.7M $374M $28.6M $37.8M $0.7M $5.7M $50.5M $58.5M $68.4M $85.9M
Net income $21.5M $33.1M $88.0M $118M −$15.0M $42.8M $99.4M $138M $172M $219M
Cash flow
Cash from operations $109M $131M $184M $204M $31.1M $189M $240M $330M $344M $418M
Capital expenditure $15.4M $37.7M $40.9M $57.9M $52.6M $54.1M $100M $136M $155M $164M
Free cash flow $93.4M $93.3M $144M $146M −$21.4M $135M $140M $194M $189M $255M
Depreciation and amortization $31.5M $31.8M $35.3M $44.3M $53.8M $62.8M $124M $149M $160M $156M
Stock-based compensation $1.7M $2.5M $5.5M $4.8M $4.8M $8.8M $8.1M $7.9M $8.9M $12.3M
Acquisitions $0.0M $0.0M $45.8M $52.6M $0.0M $1.9M $425M $43.3M $0.0M $0.0M
Share buybacks $1.6M $0.0M $342M $458M $0.0M $0.0M $94.3M $125M $300M $500M
Dividends paid $169M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $171M $0.0M $342M $458M $0.0M $0.0M $94.3M $125M $300M $500M
Balance sheet
Cash and short-term investments $40.4M $113M $289M $436M $440M $546M $410M $351M $407M $452M
Total debt $709M $704M $1.2B $1.7B $1.8B $1.8B $2.0B $2.0B $2.2B $2.5B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.4M $0.2M $0.1M $1.0M
Current assets $91.2M $177M $389M $540M $567M $662M $556M $472M $588M $658M
Current liabilities $83.3M $112M $131M $146M $112M $177M $245M $251M $283M $313M
Inventory $1.8M $2.7M $5.1M $0.9M $0.5M $1.2M $5.3M $4.7M $6.1M $7.6M
Property and equipment, net $61.2M $83.3M $114M $146M $161M $174M $349M $390M $424M $467M
Total assets $1.0B $1.1B $1.4B $1.7B $1.8B $2.0B $2.9B $3.0B $3.1B $3.1B
Total liabilities $1.2B $1.2B $1.7B $2.4B $2.6B $2.7B $3.1B $3.1B $3.3B $3.6B
Shareholders' equity −$131M −$120M −$375M −$707M −$706M −$645M −$199M −$116M −$215M −$483M
Margins
Gross margin 67.7% 69.9% 71.6% 71.8% — 82.8% 81.1% 82.3% 83.3% 82.6%
Operating margin 30.6% 34.3% 32.1% 33.8% 14.7% 24.4% 24.6% 25.5% 27.4% 29.8%
EBITDA margin 38.9% 41.7% 38.3% 40.3% 27.9% 35.1% 37.8% 39.4% 41.0% 41.6%
Net margin 5.7% 7.7% 15.4% 17.1% −3.7% 7.3% 10.6% 12.9% 14.6% 16.6%
FCF margin 24.7% 21.7% 25.1% 21.3% −5.3% 23.0% 15.0% 18.1% 16.0% 19.2%
Returns
Return on capital 20.2% 16.3% 30.2% 34.4% 8.0% 21.4% 16.2% 13.6% 15.3% 18.4%
Return on capital employed 14.9% 15.5% 16.7% 16.7% 3.6% 8.0% 10.3% 10.2% 11.8% 14.2%
Return on assets 2.5% 3.2% 7.2% 7.7% −0.8% 2.2% 4.1% 4.8% 5.7% 7.1%
Growth
Revenue growth 14.4% 13.7% 33.3% 20.2% −41.0% 44.4% 59.6% 14.4% 10.3% 12.1%
Net income growth 16.1% 54.2% 165.6% 33.7% −112.7% — 132.4% 39.2% 24.4% 27.4%
FCF growth 50.3% −0.2% 53.9% 2.0% −114.6% — 3.7% 38.6% −2.8% 34.9%
Financial health
Net debt / EBITDA 4.5x 3.3x 4.0x 4.6x 11.7x 5.9x 4.5x 3.9x 3.6x 3.7x
Interest coverage 4.3x 4.2x 3.6x 3.8x 0.7x 1.8x 2.6x 3.2x 3.2x 3.7x
Current ratio 1.1x 1.6x 3.0x 3.7x 5.1x 3.8x 2.3x 1.9x 2.1x 2.1x
Quick ratio 1.1x 1.6x 2.9x 3.7x 5.1x 3.7x 2.3x 1.9x 2.1x 2.1x
Capital allocation
Capex / revenue 4.1% 8.8% 7.1% 8.4% 12.9% 9.2% 10.7% 12.7% 13.1% 12.4%
Stock comp / revenue 0.5% 0.6% 1.0% 0.7% 1.2% 1.5% 0.9% 0.7% 0.8% 0.9%
Payouts / FCF 182.9% 0.0% 238.5% 312.9% — 0.0% 67.3% 64.4% 159.0% 196.4%
Quality scores
Altman Z'' 0.1 0.8 1.0 0.7 0.2 0.7 0.4 0.3 0.4 0.3
Accruals ratio −10.3% −9.4% −7.9% −5.6% −2.6% −7.6% −5.8% −6.6% −5.7% −6.5%

Source: SEC EDGAR XBRL filings (CIK 0001637207). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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