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1. Company Snapshot

1.a. Company Description

Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand.It operates through Franchise, Corporate-Owned Stores, and Equipment segments.The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.


The Corporate-Owned Stores segment operates corporate-owned stores in the United States and Canada.The Equipment segment engages in the sale of fitness equipment to franchisee-owned stores in the United States and Canada.As of December 31,2021, the company had 2,254 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, and Australia.


Planet Fitness, Inc.was founded in 1992 and is headquartered in Hampton, New Hampshire.

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1.b. Last Insights on PLNT

Planet Fitness, Inc. faces negative drivers, including reduced stock positions by major investors. Dimensional Fund Advisors LP and American Century Companies Inc. decreased their holdings by 1.4% and 71.7%, respectively. Additionally, Pomerantz LLP is investigating claims on behalf of investors, citing potential wrongdoing. The company's Q4 earnings report showed a beat on EPS, but rising attrition and cost pressures may impact future performance. These factors contribute to a challenging environment for the company.

1.c. Company Highlights

2. Planet Fitness Delivers Strong Q4 Earnings Driven by Strategic Imperatives

Planet Fitness reported a robust Q4 with total revenue reaching $376.3 million, a 10.4% increase year-over-year, and adjusted EBITDA of $146.3 million, with a margin of 38.9%. The company's adjusted diluted EPS came in at $0.8, beating estimates of $0.739. The strong financial performance was driven by the company's focus on its 4 strategic imperatives, including redefining its brand promise, enhancing the member experience, and optimizing its format.

Publication Date: Feb -25

📋 Highlights
  • Strong Financial Growth:: Q4 revenue rose 12% YoY to $376.3M, adjusted EBITDA grew 13% to $146.3M, and adjusted diluted EPS increased 19%.
  • Member and Club Expansion:: Ended 2025 with 20.8 million members and 2,900+ clubs globally, adding 1.1 million net new members and opening 181 new clubs in 2025.
  • International Momentum:: Surpassed 1 million international members and 200 clubs in 2025, with a 4-5% same-store sales growth projected for 2026.
  • Strategic Tech Investments:: Launched AI-driven tools like predictive churn models and expanded mobile app usage, which remains the top health & fitness app download.
  • Capital Allocation and Guidance:: 2026 guidance includes 180–190 new club openings, 9% revenue growth, 10% adjusted EBITDA growth, and 10–15% CapEx increase to support relocations and remodels.

Member Growth and New Club Openings

The company ended 2025 with approximately 20.8 million members and nearly 2,900 clubs globally. Planet Fitness added 1.1 million net new members in 2025, with 181 new club openings during the year. The company's international expansion remains a key growth pillar, with over 1 million members and 200 clubs internationally in 2025. The strong member growth was driven by effective marketing efforts, including the "We Are All Strong" campaign, and the company's investment in AI-enabled technology to improve member retention.

Guidance and Outlook

Planet Fitness expects 4-5% system-wide same-store sales growth in 2026, with 180-190 new club openings. Total revenue is expected to grow 9%, with adjusted EBITDA increasing 10%. Adjusted diluted EPS is expected to rise 9-10%. The company's guidance is based on its continued focus on its strategic imperatives and its expectation of driving strong member growth through the balance of the year. As Jay Stasz discussed, the company is committed to its 3-year growth algorithm, despite a lower growth year due to the reequipped cycle and the sale of California clubs.

Valuation and Metrics

With a P/E Ratio of 31.49 and an EV/EBITDA of 12.5, the market is pricing in a certain level of growth for Planet Fitness. The company's ROIC of 10.12% indicates a relatively healthy return on invested capital. As the company continues to drive growth through unit openings and member acquisition, it remains to be seen whether it can meet or exceed market expectations. Analysts estimate next year's revenue growth at 11.8%, which is slightly higher than the company's guided growth rate.

Operational Highlights

The company is continuing to innovate and improve its member experience, including the rollout of online member management and a partnership with a GLP-1 provider to offer discounts and a complementary health and wellness program to its members. The company has seen high conversion rates and is pleased with the early results, indicating a compelling market opportunity. With a large addressable market of 50-60 million active adults in the US, Planet Fitness remains well-positioned for long-term growth.

3. NewsRoom

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Head to Head Review: Royal Olympic Cruise Lines (OTCMKTS:ROCLF) & Planet Fitness (NYSE:PLNT)

Mar -26

Source: defenseworld.net

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CIBC Bancorp USA Inc. Takes Position in Planet Fitness, Inc. $PLNT

Mar -19

Source: defenseworld.net

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PLNT Investors Have Opportunity to Join Planet Fitness, Inc. Fraud Investigation with the Schall Law Firm

Mar -18

Source: globenewswire.com

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Danica Pension Livsforsikringsaktieselskab Invests $11.92 Million in Planet Fitness, Inc. $PLNT

Mar -18

Source: defenseworld.net

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Planet Fitness Appoints Harmit Singh to Board of Directors

Mar -16

Source: prnewswire.com

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PLNT Investors Have Opportunity to Join Planet Fitness, Inc. Fraud Investigation with the Schall Law Firm

Mar -14

Source: businesswire.com

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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Planet Fitness, Inc. - PLNT

Mar -12

Source: prnewswire.com

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Dimensional Fund Advisors LP Reduces Position in Planet Fitness, Inc. $PLNT

Mar -12

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.62%)

6. Segments

Corporate-owned Stores

Expected Growth: 9%

Planet Fitness' corporate-owned stores growth is driven by strategic location expansion, increased brand awareness, and effective marketing campaigns. Additionally, the company's Judgement Free Zone philosophy, affordable membership options, and high-value amenities attract a loyal customer base, contributing to the 9% growth rate.

Franchise

Expected Growth: 7%

Planet Fitness' franchise growth is driven by increasing demand for affordable fitness options, strategic partnerships, and expansion into new markets. The Judgement Free Zone brand resonates with consumers, while the low-cost, high-volume model attracts franchisees. Additionally, the company's focus on technology integration and digital marketing enhances the member experience, fueling growth.

Equipment

Expected Growth: 6%

Planet Fitness' equipment segment growth is driven by increasing demand for high-quality, affordable fitness equipment, strategic partnerships with fitness influencers, and expansion into new markets. Additionally, the company's Judgement-Free Zone philosophy and focus on providing a welcoming environment for members contribute to growth. Furthermore, investments in digital technology and data analytics enhance the overall member experience, driving equipment sales and retention.

7. Detailed Products

Membership

Planet Fitness offers various membership plans that provide access to its fitness centers, equipment, and amenities.

PF360

PF360 is a premium membership tier that offers additional amenities, including access to exclusive equipment, personalized fitness coaching, and discounts on certain services.

Small Group Training

Planet Fitness offers small group training sessions led by certified trainers, focusing on strength training, cardio, and flexibility exercises.

Personal Training

Planet Fitness offers one-on-one personal training sessions with certified trainers, tailored to individual fitness goals and needs.

Fitness Classes

Planet Fitness offers a variety of group fitness classes, including yoga, Pilates, and cardio-based workouts.

Equipment and Amenities

Planet Fitness gyms are equipped with a range of cardio and strength training equipment, as well as amenities like hydromassage beds, tanning services, and free Wi-Fi.

8. Planet Fitness, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Planet Fitness has a low threat of substitutes due to its unique Judgement Free Zone atmosphere and affordable membership prices, making it difficult for substitutes to replicate.

Bargaining Power Of Customers

Planet Fitness has a medium bargaining power of customers due to the availability of alternative fitness centers and gyms, but its low prices and convenient locations mitigate this power.

Bargaining Power Of Suppliers

Planet Fitness has a low bargaining power of suppliers due to its ability to negotiate with equipment manufacturers and its large scale of operations.

Threat Of New Entrants

Planet Fitness has a medium threat of new entrants due to the relatively low barriers to entry in the fitness industry, but its established brand and economies of scale make it difficult for new entrants to compete.

Intensity Of Rivalry

Planet Fitness operates in a highly competitive fitness industry with many established players, leading to a high intensity of rivalry among competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 106.08%
Debt Cost 5.03%
Equity Weight -6.08%
Equity Cost 10.80%
WACC 4.67%
Leverage -1744.59%

11. Quality Control: Planet Fitness, Inc. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Hasbro

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Value: 5.7

Growth: 3.0

Quality: 4.0

Yield: 8.0

Momentum: 8.5

Volatility: 7.3

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Planet Fitness

A-Score: 5.1/10

Value: 3.3

Growth: 6.7

Quality: 6.8

Yield: 0.0

Momentum: 7.0

Volatility: 6.7

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Quality: 6.5

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A-Score: 4.8/10

Value: 4.2

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Quality: 7.5

Yield: 0.0

Momentum: 5.0

Volatility: 4.3

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A-Score: 4.4/10

Value: 8.0

Growth: 7.0

Quality: 6.2

Yield: 0.0

Momentum: 1.0

Volatility: 4.0

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A-Score: 4.1/10

Value: 7.8

Growth: 2.2

Quality: 4.7

Yield: 1.0

Momentum: 6.0

Volatility: 2.7

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

73.29$

Current Price

73.29$

Potential

-0.00%

Expected Cash-Flows