📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Clubs, and Equipment. The Franchise segment includes operations related to the franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia. The Corporate-owned clubs segment includes operations with corporate-owned clubs in the United States, Canada, and Spain. The Equipment segment includes the sale of equipment to franchisee-owned clubs; and the sale of fitness equipment to franchisee-owned clubs in the United States, Canada, and Mexico. Planet Fitness, Inc. was founded in 1992 and is headquartered in Hampton, New Hampshire.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding PLNT

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	837.5K	$62.3M	0.08%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Cautious ~ Volatile 4 quarters analysed

Q2 2025

Confident Specific

Management used phrases like 'strong financial performance', 'pleased to deliver another quarter of strong results', and 'well positioned for the long term' while providing specific metrics (8.2% same-club sales, 65.8% Black Card penetration, 340 bps increase). They also acknowledged headwinds (online cancellation attrition slightly elevated, macroeconomic conservatism) but framed them as manageable and within guidance.

Q3 2025

Confident Specific

Management used strong positive language like 'very pleased to deliver another strong quarter', 'raised elements of our 2025 outlook', and provided specific numbers on comps, membership, and guidance lifts. The tone was upbeat and data-driven.

Q4 2025

Confident Specific

Management repeatedly cited 'strong performance', 'discipline and focus', and gave precise numeric guidance (e.g., 4-5% comp, 9% revenue growth, 10% EBITDA growth). Acknowledged transitory headwinds (weather, attrition) but framed them as manageable, with CFO stating 'we think the guidance is appropriate' and CEO calling 2025 results 'a direct result of our discipline'.

Q1 2026 latest

Cautious

Management admitted Q1 net member growth fell short of expectations and revised full-year guidance downward, citing marketing missteps, competitive pressures, and weather headwinds, yet expressed confidence in corrective actions and long-term strategy.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis for Planet Fitness is weaker after this call due to the downward revision of FY2026 guidance and acknowledgment that member growth disappointments are partly self-inflicted (marketing misalignment). However, management's swift corrective actions—refocusing marketing on beginners, pausing price increases, and investing in AI tools—may stabilize growth. The core competitive advantage (judgment-free environment, massive scale) remains intact. Key metrics to watch next quarter: net member growth trends, Black Card penetration, and any early feedback from the new creative agency's campaigns.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Cautious ~ Volatile 4 quarters Full tone analysis in Intelligence →

📊 MIXED Planet Fitness Q1: +700k net members, 3.5% same-club sales, EBITDA up 19.5%

Revenue & Profitability

Q1 2026 total revenue was $337 million, up 22% year-over-year. Net income was $52 million; adjusted net income was $59 million ($0.74 per diluted share). Adjusted EBITDA grew 19.5% to $140 million, with a margin of 41.5%. System-wide same-club sales increased 3.5% (90% from rate growth, 10% from member growth). Black Card penetration rose to 67% (up 240 bps).

Outlook

Management sees long-term tailwinds as more people recognize the health benefits of movement; the Health & Fitness Association reported 5.4% industry membership growth in 2025. However, macroeconomic pressures and an uneven recovery are weighing on lower-income consumers. Weather disruptions and competitive impacts in the South Central and Southeast U.S. also affected Q1.

Growth Drivers

Key growth levers include new club openings (180–190 system-wide in 2026), driving member growth (over 700,000 net new members added in Q1), and same-club sales (targeting member growth as the majority driver). Black Card penetration improvement is also a growth contributor, though the national price increase has been paused to prioritize member acquisition.

Balance Sheet & CapEx

Capital expenditures are expected to be up 10–15% in 2026, with depreciation and amortization up approximately 10%. Investments include an AI-enabled predictive churn model (now in pilot), a dynamic content optimization engine for ad serving, and a modernized CRM engine. A new app is also being developed in tandem with these tools.

Margins

Adjusted EBITDA margin was 41.5% in Q1 (down from 42.3% a year ago). By segment: franchise margin 70.4% (down from 73.7%), corporate club margin 33.1% (down from 34.3%), and equipment margin 31.3% (up from 26.8%). Management expects equipment margin to be approximately 30% for the full year. SG&A was flat year-over-year at $34 million.

Key Risks

Risks flagged include: marketing messaging not resonating with the core beginner audience, higher-than-expected attrition (monthly churn averaged 3.8% in Q1, within historical range but elevated versus last year), weather disruptions, macroeconomic pressure on lower-income consumers, and competitive impacts in certain markets. The pause on Black Card pricing reflects the risk of further member growth headwinds.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Q2 saw 3.6% year-over-year member growth and 7% revenue growth, with system-wide same club sales up 1.7% driven by rate increases. Adjusted EBITDA rose 3.5%, and guidance for 2026 was raised for adjusted net income per share. Marketing, pricing, and club expansion initiatives remain key priorities.

Q1 2026 Q1 2026 2026-05-07

Q1 saw 700,000+ net new members, 22% revenue growth, and 19.5% higher adjusted EBITDA, but member growth lagged expectations due to marketing missteps and external headwinds. 2026 guidance was cut, with a pause on Black Card price hikes to prioritize member growth.

Q4 2025 Q4 2025 2026-02-24

Membership reached 20.8 million with 181 new clubs opened in 2025, driving 12% revenue and 13% adjusted EBITDA growth. 2026 guidance calls for 4%-5% same-club sales growth, 180-190 new clubs, and 9%-10% EPS growth, with continued investment in technology and marketing.

Q3 2025 Q3 2025 2025-11-06

Q3 delivered strong revenue and membership growth, prompting an upward revision of 2025 guidance. Strategic investments in marketing, club expansion, and digital initiatives are driving momentum, while attrition rates are moderating and franchisee economics remain robust.

Q2 2025 Q2 2025 2025-08-06

Q2 delivered double-digit revenue and adjusted EBITDA growth, with strong same club sales and record Black Card penetration. Guidance for 2025 is reiterated, with a focus on new club growth, margin expansion, and continued investment in member experience and franchisee economics.

📊 Analysis Methodology

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