Planet Fitness (PLNT) financial statements
Planet Fitness reported revenue of $1.3B in fiscal 2025, up 14.9% a year over 9 years.
Net income was $219M and the operating margin 29.8%, against 30.6% in 2016.
Free cash flow was $255M, and the company returned $500M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Planet Fitness's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $378M | $430M | $573M | $689M | $407M | $587M | $937M | $1.1B | $1.2B | $1.3B |
| Cost of revenue | $122M | $129M | $163M | $194M | $71M | $101M | $177M | $190M | $197M | $230M |
| Gross profit | $256M | $301M | $410M | $494M | $336M | $486M | $760M | $881M | $985M | $1.1B |
| Selling, general and admin | $50M | $60M | $72M | $79M | $69M | $95M | $115M | $125M | $129M | $138M |
| Operating income | $116M | $148M | $184M | $233M | $60M | $143M | $230M | $273M | $324M | $395M |
| Interest expense | $27M | $35M | $51M | $61M | $82M | $81M | $89M | $87M | $100M | $108M |
| Pre-tax income | $90M | $429M | $132M | $173M | -$15M | $52M | $161M | $208M | $247M | $309M |
| Income tax | $19M | $374M | $29M | $38M | $687,000 | $6M | $51M | $59M | $68M | $86M |
| Net income | $22M | $33M | $88M | $118M | -$15M | $43M | $99M | $138M | $172M | $219M |
| Gross margin | 67.7% | 69.9% | 71.6% | 71.8% | 82.5% | 82.8% | 81.1% | 82.3% | 83.3% | 82.6% |
| Operating margin | 30.6% | 34.3% | 32.1% | 33.8% | 14.7% | 24.4% | 24.6% | 25.5% | 27.4% | 29.8% |
| Net margin | 5.7% | 7.7% | 15.4% | 17.1% | -3.7% | 7.3% | 10.6% | 12.9% | 14.6% | 16.5% |
Balance sheet
Fiscal years, from Planet Fitness's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $40M | $113M | $289M | $436M | $439M | $546M | $410M | $351M | $407M | $452M |
| Receivables | $27M | $37M | $39M | $42M | $16M | $27M | $46M | $42M | $77M | $70M |
| Inventory | $2M | $3M | $5M | $877,000 | $473,000 | $1M | $5M | $5M | $6M | $8M |
| Total current assets | $91M | $177M | $389M | $540M | $567M | $662M | $556M | $472M | $588M | $658M |
| Property, plant and equipment | $61M | $83M | $114M | $145M | $161M | $174M | $349M | $390M | $424M | $467M |
| Goodwill | $177M | $177M | $200M | $228M | $228M | $229M | $703M | $718M | $721M | $712M |
| Total assets | $1.0B | $1.1B | $1.4B | $1.7B | $1.8B | $2.0B | $2.9B | $3.0B | $3.1B | $3.1B |
| Total current liabilities | $83M | $112M | $131M | $145M | $112M | $177M | $245M | $251M | $282M | $312M |
| Long-term debt | $702M | $697M | $1.2B | $1.7B | $1.8B | $1.7B | $2.0B | $2.0B | $2.1B | $2.5B |
| Total liabilities | $1.2B | $1.2B | $1.7B | $2.4B | $2.6B | $2.7B | $3.1B | $3.1B | $3.3B | $3.6B |
| Shareholders' equity | -$131M | -$119M | -$375M | -$706M | -$706M | -$645M | -$199M | -$116M | -$215M | -$483M |
| Net debt | $669M | $591M | $883M | $1.3B | $1.3B | $1.2B | $1.6B | $1.7B | $1.9B | $2.1B |
Cash flow
Fiscal years, from Planet Fitness's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $109M | $131M | $184M | $204M | $31M | $189M | $240M | $330M | $344M | $418M |
| Capital spending | $15M | $38M | $41M | $58M | $53M | $54M | $100M | $136M | $155M | $164M |
| Free cash flow | $93M | $93M | $144M | $146M | -$21M | $135M | $140M | $194M | $189M | $255M |
| Stock-based compensation | $2M | $3M | $5M | $5M | $5M | $9M | $8M | $8M | $9M | $12M |
| Dividends paid | $169M | — | — | — | — | — | — | — | — | — |
| Share buybacks (net) | -$2M | — | -$342M | -$458M | $0 | $0 | -$94M | -$125M | -$300M | -$500M |
| Net borrowing | $224M | -$7M | $488M | $538M | $58M | -$18M | -$725M | -$21M | -$609M | -$432M |
| Free cash flow margin | 24.7% | 21.7% | 25.1% | 21.3% | -5.3% | 23.0% | 15.0% | 18.1% | 16.0% | 19.2% |
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Open PLNT in InvestinglyQuestions
What was Planet Fitness's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Planet Fitness generate?
$255M in fiscal 2025 (operating cash flow minus capital spending).
From Planet Fitness's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.