Forensic Analysis · Amusement & Recreation · as of Nov 9, 2026

Planet Fitness, Inc. (PLNT)

A forensic read on Planet Fitness, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Clean

Earnings quality

Forensic signals

12.1%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Planet Fitness, Inc. earns an A (High-quality compounder) forensic quality grade. 3 forensic signals were flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

197% of FCF

FY2025

Shareholder returns. Returned $502M to shareholders (buybacks + dividends) in FY2025 — 197% of free cash flow. That is $247M (97%) more than free cash flow covered, and more than operating cash flow as well. New debt covered it: total debt rose $312M over FY2025, while cash, short-term investments and long-term marketable securities rose $68M. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $12M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 202%.

11.4%

FY2025

Return on invested capital. Return on invested capital is 11.4% in the latest fiscal year and rising across FY2023–FY2025 from 8.0%. After-tax operating profit was $196M in FY2023 and $285M in FY2025, with operating income at 25.5% of revenue in FY2023, 27.4% in FY2024 and 29.8% in FY2025. The capital base behind it went from $2.5B in FY2023 to $2.5B in FY2025 (+1%), while the revenue it carried went from $1.1B to $1.3B.

-69%

FY2024→FY2025

Dividend — cut. The payout was CUT ~69% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$1.32B

Revenue Growth YoY+12.1%

Revenue CAGR (2yr)+11.2%

Net Margin16.5%

Free Cash Flow$254.8M

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Planet Fitness, Inc.'s actual 10-K/10-Q/8-K filings?

Generate the AI investment read →

No credit card · informational only, not investment advice · see the track record

← Browse all forensic stock analyses

Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.