PLNT
Planet Fitness, Inc.
PLNT's fundamentals are strong and it looks cheap: trading at 20x earnings, less than half its usual 51x. Analysts expect earnings growth, though they disagree widely on how much.
PLNT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Under pressure |
PLNT's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is under pressure.
PLNT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $60.15 | — |
| Current | 20x | $60.15 | — |
| Cheap | 37x | $110 | +82% |
| Fair | 51x | $150 | +150% |
| Expensive | 148x | $437 | +627% |
Historical ranges are pointers, not guarantees.
PLNT's PE is in its cheap range at 20x. If earnings grow as analysts expect, today's price would be 17x next year's earnings.
PLNT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for PLNT, with profitability improving. However, they disagree widely on these estimates.
PLNT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.61 | +22% |
| Q3 2026 | $2.95 | +20% |
| Q2 2026 | $2.95 | +31% |
| Q1 2026 | $2.77 | +31% |
| Q4 2025 | $2.62 | +30% |
| Q3 2025 | $2.45 | +32% |
| Q2 2025 | $2.25 | +24% |
| Q1 2025 | $2.12 | +22% |
| Q4 2024 | $2.01 | +24% |
PLNT's earnings per share have climbed steadily: $2.95 over the past year, up 20% from the year before, and higher year over year for 21 quarters in a row.
PLNT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $360M | +9% |
| Q2 2026 | $365.2M | +7.1% |
| Q1 2026 | $337.2M | +22% |
| Q4 2025 | $376.3M | +11% |
| Q3 2025 | $330.3M | +13% |
| Q2 2025 | $340.9M | +13% |
| Q1 2025 | $276.7M | +12% |
| Q4 2024 | $340.5M | +19% |
PLNT's revenue has grown year over year for 22 quarters in a row: $360M last quarter, up 9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 28% | -4.2 points |
| Q2 2026 | 34% | +3.9 points |
| Q1 2026 | 29% | +0.6 points |
| Q4 2025 | 28% | +1.8 points |
| Q3 2025 | 32% | +4.6 points |
| Q2 2025 | 30% | +1 points |
| Q1 2025 | 29% | +2.1 points |
| Q4 2024 | 26% | +1.3 points |
PLNT's operating margin was 28% last quarter, down 4.2 points from the same quarter a year ago.
PLNT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $28.9M | -62% |
| Q2 2026 | $4M | -59% |
| Q1 2026 | $122M | +12% |
| Q4 2025 | $59M | +738% |
| Q3 2025 | $76.7M | -1.9% |
| Q2 2025 | $9.7M | -76% |
| Q1 2025 | $109.4M | +72% |
| Q4 2024 | $7M | -41% |
PLNT generated $214M in free cash flow over the past year, up 5.5% from the year before.
PLNT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.4% | -2.6M shares |
| 1 year | -11% | -9.2M shares |
| 3 years | -12% | -10.4M shares |
| 5 years | -11% | -9.4M shares |
| Available history | -8.5% | -6.9M shares |
PLNT has 75M diluted shares, down 11% from a year ago, with $653M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $51.2M |
| Q2 2026 | $200.1M |
| Q1 2026 | $51.1M |
| Q4 2025 | $350.3M |
| Q3 2025 | $97.9M |
| Q2 2025 | $2.1M |
| Q1 2025 | $50M |
| Q4 2024 | $1M |
PLNT spent $653M buying back its own shares over the past year, about four times what it spent the year before.
PLNT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.7x | Elevated |
| Q2 2026 | 4.4x | High |
| Q1 2026 | 4.2x | High |
| Q4 2025 | 4.5x | High |
| Q3 2025 | 4.0x | High |
| Q2 2025 | 4.2x | High |
| Q1 2025 | 4.3x | High |
| Q4 2024 | 4.5x | High |
PLNT's net debt is about 3.7 years of its operating earnings (EBITDA), down from 4.0 years a year ago.
PLNT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.5 | Neutral |
| Stochastic | 89.1 | Overbought |
PLNT's weekly RSI is 55 (neutral) and its Stochastic is 89 (overbought).
PLNT PE vs Consumer Cyclical Sector
| Metric | PLNT | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 18x | 13% above |
| PE % | 8 | 47 | 39 pts below |
PLNT is trading at 20x earnings, a 13% premium to the Consumer Cyclical sector's median of 18x.
PLNT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $51.3 | 17% above |
| 20 week MA | $51.8 | 16% above |
| 50 week MA | $67.9 | 11% below |
| 100 week MA | $85.0 | 29% below |
| 200 week MA | $78.1 | 23% below |
PLNT has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 23% below its 200-week average.
PLNT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $75.5 | $77.7 | +3% |
| 2021 | $77.7 | $91.0 | +17% |
| 2022 | $91.0 | $79.1 | -13% |
| 2023 | $79.1 | $73.0 | -7.7% |
| 2024 | $73.0 | $99.8 | +37% |
| 2025 | $99.8 | $109.1 | +9.3% |
| 2026 YTD | $109.1 | $60.2 | -45% |
PLNT is down 45% so far in 2026, after finishing higher in four of the previous six years.