Planet Fitness, Inc. (PLNT) 10-Year Financial Performance & Capital Metrics

PLNT • • Industrial / General

Consumer CyclicalLeisureFitness & Wellness CentersHealth & Fitness Clubs

AboutPlanet 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.Show more

Revenue $1.18B +10.3%
EBITDA $485M +14.7%
Net Income $172M +24.4%
EPS (Diluted) 2.00 +23.5%
Gross Margin 52.05%
EBITDA Margin 41.01% +4.0%
Operating Margin 27.44% +7.7%
Net Margin 14.56% +12.8%
ROE -
ROIC 12.04% +8.6%
Debt/Equity -
Interest Coverage 3.24 +2.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FCF machine: 16.0% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.4%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.5%

5Y11.4%

3Y26.26%

TTM14.39%

Profit (Net Income) CAGR

10Y16.67%

5Y7.89%

3Y59.03%

TTM28.39%

EPS CAGR

10Y6.76%

5Y7.24%

3Y57.7%

TTM31.72%

ROCE

10Y Avg12.01%

5Y Avg8.8%

3Y Avg10.79%

Latest11.78%

Peer Comparison

Health & Fitness Clubs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PLNTPlanet Fitness, Inc.	8.22B	99.09	49.55	10.3%	15.97%		2.3%
LTHLife Time Group Holdings, Inc.	5.89B	26.69	36.07	18.24%	9.88%	9.64%	0.86%	1.53
OSWOneSpaWorld Holdings Limited	2.06B	20.18	29.25	12.72%	7.9%	13.38%	3.5%	0.20
PTONPeloton Interactive, Inc.	2.69B	6.70	-22.33	-7.77%	-4.24%		12.02%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	330.54M	378.24M	429.94M	572.9M	688.8M	406.62M	587.02M	936.77M	1.07B	1.18B
Revenue Growth %	0.18%	0.14%	0.14%	0.33%	0.2%	-0.41%	0.44%	0.6%	0.14%	0.1%
Cost of Goods Sold+	170.98M	182.44M	189.92M	280.27M	330.71M	220.01M	271.15M	462.74M	513.74M	566.64M
COGS % of Revenue	0.52%	0.48%	0.44%	0.49%	0.48%	0.54%	0.46%	0.49%	0.48%	0.48%
Gross Profit+	159.56M	195.8M	240.02M	292.63M	358.09M	186.61M	315.87M	474.03M	557.59M	615.02M
Gross Margin %	0.48%	0.52%	0.56%	0.51%	0.52%	0.46%	0.54%	0.51%	0.52%	0.52%
Gross Profit Growth %	0.23%	0.23%	0.23%	0.22%	0.22%	-0.48%	0.69%	0.5%	0.18%	0.1%
Operating Expenses+	87.46M	80.14M	92.48M	108.58M	125.01M	126.85M	172.48M	243.96M	284.72M	290.82M
OpEx % of Revenue	0.26%	0.21%	0.22%	0.19%	0.18%	0.31%	0.29%	0.26%	0.27%	0.25%
Selling, General & Admin	55.57M	50.01M	60.37M	72.45M	78.82M	68.58M	94.54M	114.85M	124.93M	170.68M
SG&A % of Revenue	0.17%	0.13%	0.14%	0.13%	0.11%	0.17%	0.16%	0.12%	0.12%	0.14%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	31.89M	30.13M	32.11M	36.14M	46.19M	58.27M	77.94M	129.1M	159.79M	120.14M
Operating Income+	72.1M	115.66M	147.54M	184.04M	233.08M	59.76M	143.4M	230.08M	272.86M	324.2M
Operating Margin %	0.22%	0.31%	0.34%	0.32%	0.34%	0.15%	0.24%	0.25%	0.25%	0.27%
Operating Income Growth %	0.17%	0.6%	0.28%	0.25%	0.27%	-0.74%	1.4%	0.6%	0.19%	0.19%
EBITDA+	104.74M	147.56M	179.63M	219.68M	277.67M	113.59M	206.19M	354.1M	422.28M	484.54M
EBITDA Margin %	0.32%	0.39%	0.42%	0.38%	0.4%	0.28%	0.35%	0.38%	0.39%	0.41%
EBITDA Growth %	0.11%	0.41%	0.22%	0.22%	0.26%	-0.59%	0.82%	0.72%	0.19%	0.15%
D&A (Non-Cash Add-back)	32.64M	31.89M	32.09M	35.63M	44.58M	53.83M	62.8M	124.02M	149.41M	160.35M
EBIT	71.83M	117.05M	464.52M	182.55M	234.03M	67.6M	133.17M	250.07M	294.12M	346.76M
Net Interest Income+	-24.55M	-27.13M	-35.28M	-46.06M	-53.8M	-79.18M	-80.33M	-83.62M	-68.83M	-76.92M
Interest Income	0	0	0	4.68M	7.05M	2.94M	878K	5M	17.74M	23.11M
Interest Expense	24.55M	27.13M	35.28M	50.75M	60.85M	82.12M	81.21M	88.63M	86.58M	100.04M
Other Income/Expense	-24.82M	-25.75M	281.64M	-52.24M	-59.91M	-74.28M	-91.44M	-69.11M	-67.32M	-81.51M
Pretax Income+	47.28M	89.91M	429.18M	131.8M	173.18M	-14.52M	51.78M	160.97M	205.55M	242.69M
Pretax Margin %	0.14%	0.24%	1%	0.23%	0.25%	-0.04%	0.09%	0.17%	0.19%	0.21%
Income Tax+	9.15M	18.66M	373.58M	28.64M	37.76M	687K	5.66M	50.52M	58.51M	68.44M
Effective Tax Rate %	0.39%	0.24%	0.08%	0.67%	0.68%	1.03%	0.83%	0.62%	0.67%	0.71%
Net Income+	18.52M	21.5M	33.15M	88.02M	117.69M	-14.99M	42.77M	99.4M	138.31M	172.04M
Net Margin %	0.06%	0.06%	0.08%	0.15%	0.17%	-0.04%	0.07%	0.11%	0.13%	0.15%
Net Income Growth %	-0.5%	0.16%	0.54%	1.66%	0.34%	-1.13%	3.85%	1.32%	0.39%	0.24%
Net Income (Continuing)	38.13M	71.25M	55.6M	103.16M	135.41M	-15.2M	46.12M	110.46M	147.03M	174.24M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	14.3M	-84M	-17.45M	-8.21M	-1.3M	196K	2.51M	-12.55M	-3.34M	7K
EPS (Diluted)+	0.51	0.50	0.42	1.00	1.41	-0.19	0.51	1.18	1.62	2.00
EPS Growth %	-0.51%	-0.02%	-0.16%	1.38%	0.41%	-1.13%	3.68%	1.31%	0.37%	0.23%
EPS (Basic)	0.51	0.50	0.42	1.01	1.42	-0.19	0.51	1.18	1.63	2.01
Diluted Shares Outstanding	36.6M	43.3M	78.97M	87.67M	83.62M	80.3M	83.89M	84.54M	85.18M	85.83M
Basic Shares Outstanding	36.24M	43.3M	78.91M	87.24M	82.98M	80.3M	83.3M	84.14M	84.9M	85.62M
Dividend Payout Ratio	7.56%	7.87%	0.06%	-	-	-	-	-	-	0.03%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	72.94M	91.22M	177M	388.54M	540.14M	566.82M	662.41M	555.53M	471.82M	588.02M
Cash & Short-Term Investments	31.43M	40.39M	113.08M	289.43M	436.26M	439.48M	545.91M	409.84M	350.74M	407.31M
Cash Only	31.43M	40.39M	113.08M	289.43M	436.26M	439.48M	545.91M	409.84M	275.84M	293.15M
Short-Term Investments	0	0	0	0	0	0	0	0	74.9M	114.16M
Accounts Receivable	29.84M	42.37M	56.8M	58.33M	52.44M	38.66M	44.45M	66.69M	56.28M	96.54M
Days Sales Outstanding	32.96	40.88	48.22	37.16	27.79	34.7	27.64	25.98	19.17	29.82
Inventory	4.56M	1.8M	2.69M	5.12M	877K	473K	1.16M	5.27M	4.68M	6.15M
Days Inventory Outstanding	9.73	3.61	5.17	6.67	0.97	0.78	1.55	4.15	3.32	3.96
Other Current Assets	7.79M	3.07M	499K	30.71M	42.54M	76.32M	58.03M	62.66M	46.28M	56.52M
Total Non-Current Assets+	626.23M	910.22M	915.46M	964.88M	1.18B	1.28B	1.35B	2.3B	2.5B	2.48B
Property, Plant & Equipment	56.14M	61.24M	83.33M	114.37M	301.11M	324.93M	364.02M	695.76M	771.41M	819.16M
Fixed Asset Turnover	5.89x	6.18x	5.16x	5.01x	2.29x	1.25x	1.61x	1.35x	1.39x	1.44x
Goodwill	176.98M	176.98M	176.98M	199.51M	227.82M	227.82M	228.57M	702.69M	717.5M	720.63M
Intangible Assets	273.62M	253.86M	235.66M	234.33M	233.92M	217.07M	200.94M	417.07M	372.51M	323.32M
Long-Term Investments	1.15M	306K	340K	0	0	0	18.76M	25.12M	128.39M	141.32M
Other Non-Current Assets	988K	7.42M	11.38M	1.82M	1.9M	1.9M	2.02M	3.86M	3.87M	7.06M
Total Assets+	699.18M	1B	1.09B	1.35B	1.72B	1.85B	2.02B	2.85B	2.97B	3.07B
Asset Turnover	0.47x	0.38x	0.39x	0.42x	0.40x	0.22x	0.29x	0.33x	0.36x	0.38x
Asset Growth %	0.15%	0.43%	0.09%	0.24%	0.27%	0.08%	0.09%	0.42%	0.04%	0.03%
Total Current Liabilities+	66.25M	83.27M	112.03M	131.4M	145.48M	111.89M	176.61M	244.53M	251.33M	282.5M
Accounts Payable	23.95M	28.51M	28.65M	30.43M	21.27M	19.39M	27.89M	20.58M	23.79M	32.89M
Days Payables Outstanding	51.13	57.03	55.06	39.63	23.47	32.17	37.55	16.23	16.9	21.18
Short-Term Debt	5.1M	7.18M	7.18M	12M	17.5M	17.5M	17.5M	20.75M	20.75M	22.5M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	5.8M	2.54M	7.46M	8.34M	21.02M	26.27M	30.85M	50.51M	39.61M	41.55M
Current Ratio	1.10x	1.10x	1.58x	2.96x	3.71x	5.07x	3.75x	2.27x	1.88x	2.08x
Quick Ratio	1.03x	1.07x	1.56x	2.92x	3.71x	5.06x	3.74x	2.25x	1.86x	2.06x
Cash Conversion Cycle	-8.44	-12.55	-1.66	4.21	5.28	3.32	-8.35	13.91	5.6	12.59
Total Non-Current Liabilities+	634M	1.13B	1.12B	1.6B	2.28B	2.44B	2.48B	2.82B	2.84B	3B
Long-Term Debt	479.78M	702M	696.58M	1.16B	1.69B	1.75B	1.74B	1.98B	1.96B	2.15B
Capital Lease Obligations	0	0	0	0	152.92M	167.91M	197.68M	341.84M	381.59M	405.32M
Deferred Tax Liabilities	141.73M	1.24M	1.63M	2.3M	1.12M	881K	0	1.47M	1.64M	1.39M
Other Non-Current Liabilities	142.21M	421.33M	410.73M	416M	403.47M	490.71M	510.83M	467.02M	459.2M	415.86M
Total Liabilities	700.26M	1.22B	1.23B	1.74B	2.42B	2.56B	2.66B	3.07B	3.09B	3.29B
Total Debt+	484.88M	709.19M	703.76M	1.17B	1.86B	1.94B	1.96B	2.34B	2.37B	2.58B
Net Debt	453.45M	668.79M	590.68M	882.7M	1.42B	1.5B	1.41B	1.93B	2.09B	2.28B
Debt / Equity	-	-	-	-	-	-	-	-	-	-
Debt / EBITDA	4.63x	4.81x	3.92x	5.34x	6.69x	17.05x	9.48x	6.61x	5.60x	5.32x
Net Debt / EBITDA	4.33x	4.53x	3.29x	4.02x	5.12x	13.18x	6.84x	5.45x	4.95x	4.71x
Interest Coverage	2.94x	4.26x	4.18x	3.63x	3.83x	0.73x	1.77x	2.60x	3.15x	3.24x
Total Equity+	-1.08M	-214.75M	-136.94M	-382.79M	-707.75M	-705.67M	-642.85M	-211.56M	-118.99M	-215.37M
Equity Growth %	-1.01%	-197.85%	0.36%	-1.8%	-0.85%	0%	0.09%	0.67%	0.44%	-0.81%
Book Value per Share	-0.03	-4.96	-1.73	-4.37	-8.46	-8.79	-7.66	-2.50	-1.40	-2.51
Total Shareholders' Equity	-15.38M	-130.76M	-119.49M	-374.57M	-706.46M	-705.87M	-645.36M	-199.01M	-115.65M	-215.38M
Common Stock	10K	10K	10K	10K	9K	9K	9K	9K	9K	9K
Retained Earnings	-14.03M	-164.06M	-130.97M	-394.41M	-736.59M	-751.58M	-708.8M	-703.72M	-691.46M	-822.16M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.71M	-1.17M	-648K	94K	303K	27K	12K	-448K	172K	-2.35M
Minority Interest	14.3M	-84M	-17.45M	-8.21M	-1.3M	196K	2.51M	-12.55M	-3.34M	7K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	81.66M	108.82M	131.02M	184.4M	204.31M	31.14M	189.29M	240.21M	330.25M	343.87M
Operating CF Margin %	0.25%	0.29%	0.3%	0.32%	0.3%	0.08%	0.32%	0.26%	0.31%	0.29%
Operating CF Growth %	0.03%	0.33%	0.2%	0.41%	0.11%	-0.85%	5.08%	0.27%	0.37%	0.04%
Net Income	38.13M	71.25M	55.6M	103.16M	135.41M	-15.2M	46.12M	110.46M	147.03M	174.24M
Depreciation & Amortization	32.64M	31.89M	32.09M	35.63M	44.58M	53.89M	62.8M	124.02M	149.41M	160.35M
Stock-Based Compensation	4.88M	1.73M	2.53M	5.48M	4.83M	4.78M	8.8M	8.07M	7.91M	8.91M
Deferred Taxes	3.59M	15.68M	55.07M	28.7M	27.59M	1.26M	13.27M	34.79M	49.23M	56.99M
Other Non-Cash Items	2.02M	5.49M	4.61M	10.56M	6.72M	-20.83M	22.15M	-15.97M	-30.2M	-36.99M
Working Capital Changes	416K	-17.22M	-18.89M	866K	-14.82M	7.3M	36.14M	-21.15M	6.88M	-19.63M
Change in Receivables	-414K	-7.75M	-10.48M	-1.92M	-895K	23.61M	-10.8M	-19.18M	4.76M	-36.46M
Change in Inventory	-1.54M	2.75M	-890K	-2.43M	4.24M	404K	-681K	-4.11M	599K	-1.48M
Change in Payables	263K	7.43M	4.21M	14.51M	-6.27M	-10.94M	30.93M	0	0	0
Cash from Investing+	-19.16M	-14.69M	-37.04M	-86.42M	-110.69M	-52.28M	-90.92M	-506.57M	-339.99M	-208.71M
Capital Expenditures	-19.49M	-15.38M	-37.72M	-86.61M	-110.8M	-52.56M	-54.07M	-100.06M	-135.99M	-155.06M
CapEx % of Revenue	0.06%	0.04%	0.09%	0.15%	0.16%	0.13%	0.09%	0.11%	0.13%	0.13%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	327K	683K	680K	-45.56M	-52.8M	282K	46K	60K	99K	-749K
Cash from Financing+	-74.24M	-85.18M	-21.7M	109.92M	64.35M	57.85M	-10.25M	135.72M	-141.42M	-105M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-140M	-169.28M	-1.97M	0	0	0	0	0	0	-4.79M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-39.06M	-138.79M	-13M	-36.39M	-18.26M	-2.06M	-750K	-20.8M	-4.61M	-13.09M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	62.17M	93.44M	93.3M	97.79M	93.51M	-21.42M	135.22M	140.15M	194.27M	188.81M
FCF Margin %	0.19%	0.25%	0.22%	0.17%	0.14%	-0.05%	0.23%	0.15%	0.18%	0.16%
FCF Growth %	1.58%	0.5%	-0%	0.05%	-0.04%	-1.23%	7.31%	0.04%	0.39%	-0.03%
FCF per Share	1.70	2.16	1.18	1.12	1.12	-0.27	1.61	1.66	2.28	2.20
FCF Conversion (FCF/Net Income)	4.41x	5.06x	3.95x	2.09x	1.74x	-2.08x	4.43x	2.42x	2.39x	2.00x
Interest Paid	23.22M	24.3M	31.42M	38.62M	53.71M	75.63M	74.87M	80.96M	81.18M	90.85M
Taxes Paid	2.83M	7.04M	3.72M	5.02M	10M	0	1.85M	3.63M	5.26M	12.07M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	24.58%	-	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC)	11.49%	19.14%	24.38%	28.95%	28.8%	5.95%	13.8%	13.88%	11.09%	12.04%
Gross Margin	48.27%	51.77%	55.83%	51.08%	51.99%	45.89%	53.81%	50.6%	52.05%	52.05%
Net Margin	5.6%	5.68%	7.71%	15.36%	17.09%	-3.69%	7.29%	10.61%	12.91%	14.56%
Interest Coverage	2.94x	4.26x	4.18x	3.63x	3.83x	0.73x	1.77x	2.60x	3.15x	3.24x
FCF Conversion	4.41x	5.06x	3.95x	2.09x	1.74x	-2.08x	4.43x	2.42x	2.39x	2.00x
Revenue Growth	18.14%	14.43%	13.67%	33.25%	20.23%	-40.97%	44.37%	59.58%	14.36%	10.3%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Franchise	-	-	-	-	223.14M	-	-	-	317.92M	344.32M
Franchise Growth	-	-	-	-	-	-	-	-	-	8.30%
Equipment Revenue	-	-	-	210.16M	251.52M	-	-	-	234.1M	256.12M
Equipment Revenue Growth	-	-	-	-	19.68%	-	-	-	-	9.41%
Advertising	-	-	-	-	50.16M	-	-	-	70.01M	78.93M
Advertising Growth	-	-	-	-	-	-	-	-	-	12.73%
Corporate-Owned Stores	-	-	-	138.6M	159.7M	-	-	-	449.3M	-
Corporate-Owned Stores Growth	-	-	-	-	15.22%	-	-	-	-	-
Corporate Owned Stores	-	-	-	-	-	117.14M	167.22M	379.39M	-	-
Corporate Owned Stores Growth	-	-	-	-	-	-	42.75%	126.88%	-	-
Franchise	-	-	-	-	-	1.42M	2.84M	4.07M	-	-
Franchise Growth	-	-	-	-	-	-	100.71%	43.45%	-	-
Equipment	-	1.34M	3.46M	-	-	515K	1.63M	1.91M	-	-
Equipment Growth	-	-	158.89%	-	-	-	215.73%	17.40%	-	-
Commission Income	-	-	-	6.63M	4.29M	-	-	-	-	-
Commission Income Growth	-	-	-	-	-35.34%	-	-	-	-	-
Point Of Sale System	1.24M	-	-	-	-	-	-	-	-	-
Point Of Sale System Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	-	-	-	-	-	-	-	-	-	1.14B
Americas Growth	-	-	-	-	-	-	-	-	-	-
Non-US	-	-	-	-	-	-	-	-	-	40.1M
Non-US Growth	-	-	-	-	-	-	-	-	-	-
UNITED STATES	-	114.72M	147.79M	219.51M	-	-	-	-	-	-
UNITED STATES Growth	-	-	28.83%	48.53%	-	-	-	-	-	-
U S	87.3M	-	-	-	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Planet Fitness, Inc. (PLNT) has a price-to-earnings (P/E) ratio of 49.5x. This suggests investors expect higher future growth.

Growth & Financials

Planet Fitness, Inc. (PLNT) reported $1.29B in revenue for fiscal year 2024. This represents a 511% increase from $211.0M in 2013.

Planet Fitness, Inc. (PLNT) grew revenue by 10.3% over the past year. This is steady growth.

Yes, Planet Fitness, Inc. (PLNT) is profitable, generating $205.8M in net income for fiscal year 2024 (14.6% net margin).

Dividend & Returns

Planet Fitness, Inc. (PLNT) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

Planet Fitness, Inc. (PLNT) generated $202.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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