Planet Fitness
PLNT
$50.50
-1.62%
Planet Fitness, Inc. is a franchisor and operator of fitness centers in the United States, operating through Franchise, Corporate-owned stores, and Equipment segments. As a market leader in the low-cost, high-value fitness niche, it differentiates itself with a judgment-free, accessible gym experience. The current investor narrative centers on the company's post-pandemic recovery and growth trajectory, with attention on its franchise expansion, revenue diversification, and margin trends amid a challenging consumer environment.…
PLNT
Planet Fitness
$50.50
PLNT 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Planet Fitness's 12-month outlook, with a consensus price target around $65.65 and implied upside of +30.0% versus the current price.
Average Target
$65.65
4 analysts
Implied Upside
+30.0%
vs. current price
Analyst Count
4
covering this stock
Price Range
$40 - $66
Analyst target range
Only 4 analysts cover Planet Fitness, which is a low number for a mid-cap stock, indicating limited institutional interest. The consensus recommendation is not explicitly provided, but the ratings show a mix of Outperform, Overweight, Neutral, and Buy, leaning bullish. The average EPS estimate for the next fiscal year is $6.61, with a low of $6.47 and high of $6.89. The average revenue estimate is $2.03 billion. Without explicit price targets, the implied upside cannot be calculated, but the EPS estimates suggest strong earnings growth. The low number of analysts means higher uncertainty and less efficient price discovery. The ratings have been stable, with no recent downgrades, and firms like RBC Capital, JP Morgan, and Morgan Stanley maintain positive stances. The wide range in EPS estimates ($6.47 to $6.89) indicates moderate uncertainty about future earnings.
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PLNT Technical Analysis
Planet Fitness is in a sustained downtrend, with a 1-year price change of -49.97%. The current price of $53.45 sits at 21.5% of its 52-week range ($37.03 low to $114.47 high), indicating it is near the bottom of its range. This positioning suggests the stock is deeply oversold and potentially offering a value opportunity, but also reflects persistent selling pressure and negative sentiment. Over the past 1 month, the stock has gained 26.26%, while over 3 months it has declined 27.07%. This short-term rally contrasts sharply with the longer-term downtrend, signaling a potential mean-reversion bounce or a temporary pullback within a bear market. The 1-month relative strength of 1.5126 versus the S&P 500 confirms outperformance recently, but the 3-month relative strength of -40.63% underscores the broader weakness. The 52-week low of $37.03 provides key support, while the 52-week high of $114.47 is a distant resistance. A breakout above $114.47 would signal a major trend reversal, while a breakdown below $37.03 could accelerate losses. With a beta of 1.04, the stock's volatility is roughly in line with the market, meaning it offers no significant cushion against broader market swings.
Beta
1.04
1.04x market volatility
Max Drawdown
-61.2%
Largest decline past year
52-Week Range
$37-$114
Price range past year
Annual Return
-54.3%
Cumulative gain past year
| Period | PLNT Return | S&P 500 |
|---|---|---|
| 1m | -1.0% | +1.0% |
| 3m | -29.7% | +7.9% |
| 6m | -49.8% | +8.5% |
| 1y | -54.3% | +20.1% |
| ytd | -54.0% | +9.9% |
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PLNT Fundamental Analysis
Revenue has been growing steadily, with the most recent quarterly revenue of $376.3 million in Q4 2025, up 10.5% year-over-year. However, the multi-quarter trend shows deceleration: Q3 2025 revenue was $330.3 million (up from $292.2 million in Q3 2024), and Q2 2025 revenue was $340.9 million (up from $300.9 million in Q2 2024). The Equipment segment contributed $121.2 million, Franchise $98.6 million, and Advertising $20.8 million, indicating that equipment sales are a key growth driver but also more volatile. The company is profitable, with net income of $60.4 million in Q4 2025 and a gross margin of 38.5%. However, gross margin has compressed from 54.4% in Q1 2025 to 38.5% in Q4 2025, likely due to mix shift toward lower-margin equipment sales. Operating margin was 28.6% in Q4 2025, down from 30.6% in Q3 2025, indicating some margin pressure. The balance sheet shows a current ratio of 2.11, indicating adequate liquidity, but a negative debt-to-equity ratio of -6.00 due to negative shareholders' equity. Free cash flow was $58.97 million in Q4 2025, and TTM free cash flow is $254.8 million, providing a free cash flow yield of 2.8% based on the current market cap. The negative ROE of -45.3% is a red flag, but it stems from negative equity rather than operational losses.
Quarterly Revenue
$376258000.0B
2025-12
Revenue YoY Growth
+10.5%
YoY Comparison
Gross Margin
38.5%
Latest Quarter
Free Cash Flow
$254751000.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is PLNT Overvalued?
Since net income is positive, the primary valuation metric is the P/E ratio. The trailing P/E is 41.4x, while the forward P/E is 14.8x, implying the market expects significant earnings growth. The gap between trailing and forward P/E suggests that the market is pricing in a sharp recovery in earnings, likely due to the recent dip in earnings from the May 2026 price crash. Compared to the industry average (Leisure sector), the trailing P/E of 41.4x is at a premium, but the forward P/E of 14.8x is more reasonable. The P/S ratio of 6.84x is also elevated versus the sector. Historically, the trailing P/E has ranged from 26.6x to 329.8x over the past five years, and the current 41.4x is near the lower end of that range, suggesting that the stock is not excessively expensive by its own history. However, the negative book value makes the P/B ratio meaningless.
PE
41.4x
Latest Quarter
vs. Historical
Low-End
5-Year PE Range 27x~330x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
20.4x
Enterprise Value Multiple
