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Planet Fitness, Inc. (PLNT) stock analysis

PLNTNYSEServices-Membership Sports & Recreation ClubsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 7/306% above fair value
$61.19−0.15 (-0.24%)

Close on Nov 11, 2026Market cap $4.62BP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value0Growth3Performance3Health1Dividend0

Weak7 of 30 checks passed

Planet Fitness passes 7 of the 30 checks behind our score; 15 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
3/6
Past performance
3/6
Financial health
1/6
Dividend
0/6

What stands out

  • Return on capital over 10%

    Return on invested capital was 21.1%, above the 10% that usually covers the cost of capital.

  • Revenue growing 10%+ a year

    Revenue grew 12.2% a year over the last three fiscal years.

  • Guidance raised

    Planet Fitness raised its year ending December 31, 2026 Net interest expense outlook on Aug 6, 2026.

  • Growing faster than the industry

    Revenue grew 11.7% over the last twelve months; the Miscellaneous Amusement and Recreation median is 9.8%.

What to watch

  • Margin of safety under 20%

    The price is 5.9% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $61.19 is above our fair value estimate of $57.81.

  • Interest not well covered

    Operating income covers interest expense 3.3 times; we look for at least 5.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals 16.2% of total debt; we look for at least 20%.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/S above the industry

    Planet Fitness's price-to-sales of 3.21 is above the Miscellaneous Amusement and Recreation median of 3.06 (book value is negative, so we use sales).

  • Trading above fair value

    The share price of $61.19 is above our fair value estimate of $57.81.

  • Margin of safety under 20%

    The price is 5.9% above fair value, so there is no margin of safety.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 12.2% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 11.7% over the last twelve months; the Miscellaneous Amusement and Recreation median is 9.8%.

  • Guidance raised

    Planet Fitness raised its year ending December 31, 2026 Net interest expense outlook on Aug 6, 2026.

  • Gross margin slipping

    Gross margin was 81.5% over the last twelve months, against 82.9% a year earlier.

Past performance3/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on capital over 10%

    Return on invested capital was 21.1%, above the 10% that usually covers the cost of capital.

  • Return on equity against the industry

    Needs positive equity.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was 16.1% over the last twelve months, against a 5-year average of 12.4%.

  • Net margin above the industry

    Planet Fitness's net margin of 16.1% is above the Miscellaneous Amusement and Recreation median of 1.6%.

Financial health1/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals 16.2% of total debt; we look for at least 20%.

  • Interest not well covered

    Operating income covers interest expense 3.3 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 1.53 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is 1.19; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Planet Fitness has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$57.81

The share price is 6% above this estimate.

20%+ below
Near fair value
20%+ above
$61.19Price
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
EV/EBITDA12.4×–12.4×$68.5670%
Earnings power8.7% cost of equity––$32.7330%
Fair value$57.81100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$94.69M
Value traded per 1% price move
$52.76M

Downside

High risk

Typical loss in a bad month
30.3%
Volatility (annualized)
49%
Sharpe ratio, 1 year
-0.94
Beta to the S&P 500 (5Y)
0.77

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2012 to 2025

Gross margin

82.6%+0.1 pts over 5 years

Operating margin

29.8%+15.1 pts over 5 years

Net margin

16.5%+20.2 pts over 5 years

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