Planet Fitness, Inc.(PLNT)Stock Analysis
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Rank #377 of 2,879 stocksTOP 25%
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Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
PLNT Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Planet Fitness, Inc. (PLNT), a Communication Services sector company. 13F Pro's AI-powered ranking engine scores PLNT at 69.2/100 on a 32-signal composite quality model, placing it at rank #377 of 2,879 stocks — the top 25% of the AI-ranked universe. PLNT scores in the top quartile across free cash flow (82.2), profitability (81.0), balance sheet strength (77.9). Areas of concern include institutional flow (16.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), Planet Fitness, Inc. reports quarterly revenue of $337.2M, net income of $51.6M, an operating margin of 29.3%. Top institutional holders of PLNT by reported 13-F value include BlackRock,, SRS Investment Management,, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. PLNT trades on the NYSE exchange and files with the SEC under CIK 1637207. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PLNT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Planet Fitness, Inc. directly from SEC EDGAR. Planet Fitness, Inc.'s 13F Pro composite quality score has ranged between 8 and 80 since 2021, currently 69.2 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving PLNT's Business? Latest 10-Q Breakdown
✓ 33/33 datapoints verifiedAI-extracted from Planet Fitness, Inc.'s 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Planet Fitness Q1 2026 revenue surged 21.9% YoY to $337.2M, driven by equipment sales up 123% and franchise segment strength, with net income of $51.6M.
Biggest Revenue Drivers
Total revenue: $337.2M+21.9% YoY
Same club sales growth of 3.5% contributed $4.3M; new clubs and higher other fees added $2.6M and $2.3M respectively, partially offset by $4.8M from sale of 8 California clubs.
Same club sales increase of 3.5% contributed $2.8M; new clubs contributed $2.2M; higher annual fee royalties and ADA fees added $2.4M.
Rate increase from 2% to 3% of NAF contributions for fiscal year 2026.
Higher replacement equipment sales to existing franchisee clubs ($32.0M) and equipment sales to new clubs ($2.3M).
Largest Expense Items
Higher replacement and new club equipment sales drove increased costs proportionally.
New clubs opened since Jan 1 2025 added $5.1M; higher marketing spend from NAF increase added $4.6M; partially offset by $3.2M from sold California clubs.
Matched the increase in NAF revenue due to higher advertising and marketing expenditures.
Higher principal balance and blended interest rate on indebtedness related to issuance of 2025 Notes in December 2025.
Margins: Operating margin expanded modestly to 29.3% from 28.7% YoY, with strong equipment segment performance (+161.6% Adjusted EBITDA) offsetting lower margins from higher interest expense and NAF spending. Adjusted EBITDA grew 19.5% to $139.9M as franchising leverage and equipment gains outpaced corporate club modest growth.
Watch Items from the Filing
- Equipment segment revenue concentrated risk: 123% YoY growth ($34.3M increase) driven by replacement and new-club placements; concentration in franchisee ordering could be volatile.
- Interest expense surged 25.8% YoY to $33.0M due to new 2025 Notes issued in December 2025; $2.5B total debt outstanding with blended interest rate pressure.
- Same-club sales deceleration: 3.5% YoY growth in Q1 2026 vs. 6.1% YoY in Q1 2025 across system-wide clubs; suggests underlying member traffic or pricing pressure.
- Franchise pipeline remains robust: ~750 contractually committed new clubs as of March 31, 2026; approximately 21.5 million members across 2,909 locations.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$337.2M
Net Income
Q1 2026
$51.6M
Free Cash Flow
Q1 2026
$122.0M
Operating Margin
Q1 2026
29.3%
ROIC
Q1 2026
4.9%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+26.1% YoYNet Income
+73.1% YoYOperating Income
+40.9% YoYTotal Assets
+7.5% YoYTotal Debt
+8.6% YoYOp. Cash Flow
+43.2% YoY| Metric | FY 2024 | FY 2022 | FY 2021 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $1.18B +26.1% | $936.8M +59.6% | $587.0M -14.8% | $688.8M +20.2% | $572.9M +33.3% | $429.9M |
| Net Income | $172.0M +73.1% | $99.4M +132.4% | $42.8M -63.7% | $117.7M +33.7% | $88.0M +165.6% | $33.1M |
| Operating Income | $324.2M +40.9% | $230.1M +60.5% | $143.4M -38.5% | $233.1M +26.6% | $184.0M +24.7% | $147.5M |
| Total Assets | $3.07B +7.5% | $2.85B +41.6% | $2.02B +17.4% | $1.72B +26.9% | $1.35B +23.5% | $1.10B |
| Total Debt | $2.19B +8.6% | $2.02B +13.8% | $1.78B +3.1% | $1.72B +45.5% | $1.18B +66.6% | $710.9M |
| Operating Cash Flow | $343.9M +43.2% | $240.2M +26.9% | $189.3M -7.4% | $204.3M +10.8% | $184.4M +40.7% | $131.0M |
AI Insight: PLNT Financial Trends
Revenue growth stalled in Q1 2026 after strong Q4 2025, while debt jumped $312M in Q4 2025 with equity turning sharply negative.
• Operating income expanded from $87M in Q2 2024 to $99M in Q1 2026, up 14% despite revenue volatility.
• Total debt surged $312M from Q3 2025 ($2,180M) to Q4 2025 ($2,506M), largest increase in the dataset.
• Operating cash flow averaged $109M in Q1 2026 vs. $78M in Q2 2024, showing stronger underlying liquidity.
⚠ Equity deteriorated sharply to -$482M in Q4 2025 and held negative through Q1 2026; debt-to-equity structure increasingly leveraged.
⚠ Q1 2026 revenue of $337M declined 10% from Q4 2025's $376M; sequential decline suggests seasonal or structural headwind.
AI Insight: PLNT Ratio Trends
Operating margin stabilized near 29–30% after peaking at 32.4% in Q3 2025, with ROIC trending lower at 19.5% versus 21.6% last year.
• Operating margin recovered to 29.3% in Q1 2026 from 28.2% in Q4 2025, maintaining ~30% run-rate versus 26–28% in early 2024.
• ROA improved to 6.6% in Q1 2026 from 5.4% in Q1 2025, signaling better asset efficiency year-over-year.
• ROIC declined to 19.5% in Q1 2026 from 21.6% in Q3 2025 peak, though remains above 2024 baseline of 16.8–18.6%.
⚠ ROIC peaked in Q3 2025 then contracted 240bp to Q1 2026; monitor if capital deployment is deteriorating.
⚠ Net profit margin fell to 15.3% in Q1 2026 from 17.8% in Q3 2025; near-term cost pressures or margin headwinds emerging.
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Top Institutional Holders of PLNT
BlackRock, Inc.
$736.9M9,907,565 shSRS Investment Management, LLC
$363.5M4,886,522 shVANGUARD PORTFOLIO MANAGEMENT LLC
$274.0M3,683,400 shVANGUARD CAPITAL MANAGEMENT LLC
$268.9M3,615,053 shNinety One UK Ltd
$209.4M2,814,660 shDorsal Capital Management, LP
$187.8M2,525,000 shSTATE STREET CORP
$186.8M2,510,760 shSTEADFAST CAPITAL MANAGEMENT LP
$164.6M2,212,592 shGOLDMAN SACHS GROUP INC
$155.7M2,092,785 shGEODE CAPITAL MANAGEMENT, LLC
$127.1M1,709,053 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $736.9M | 9,907,565 |
| SRS Investment Management, LLC | $363.5M | 4,886,522 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $274.0M | 3,683,400 |
| VANGUARD CAPITAL MANAGEMENT LLC | $268.9M | 3,615,053 |
| Ninety One UK Ltd | $209.4M | 2,814,660 |
| Dorsal Capital Management, LP | $187.8M | 2,525,000 |
| STATE STREET CORP | $186.8M | 2,510,760 |
| STEADFAST CAPITAL MANAGEMENT LP | $164.6M | 2,212,592 |
| GOLDMAN SACHS GROUP INC | $155.7M | 2,092,785 |
| GEODE CAPITAL MANAGEMENT, LLC | $127.1M | 1,709,053 |
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Is PLNT a good stock to buy?
13F Pro's AI-powered analysis of Planet Fitness, Inc. (PLNT) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Communication Services sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PLNT are available on the PLNT stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own PLNT?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling PLNT. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Planet Fitness, Inc.'s investment landscape.