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Planet Fitness PLNT

Planet Fitness scores good on business quality (6.8 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$47.98Oct 10, 2026
Business qualityGood
Next earningsNov 4, 2026, before the open
Insiders, 90 daysBuying

Why it matters

  1. What Planet Fitness does

    Planet Fitness operates low-cost fitness centers, making money primarily through franchise fees, royalties, and corporate-owned gym memberships paid by everyday consumers.

  2. What it does best

    Planet Fitness turns scale into a pricing moat, generating $1.4B in revenue with a 30.0% operating margin that crushes peer MTN's 14.6%. Its $10 entry price and franchise model create high switching costs for members and predictable cash flows that are exceptionally difficult for rivals to replicate.

  3. The main risk

    Insider selling creates a sharp overhang, with the COO dumping 23% of his direct equity stake after a stock crash. This signals internal caution just as debt-fueled buybacks of $698M push net debt to $2.0B against an interest coverage ratio of just 3.4x.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin stands at 30.0% and FCF margin sits high, placing operating margin in the top decile of its sector at the 96th percentile. The asset-light franchise model scales efficiently as revenue expands.

MoatFair

Scale and low price points lock in value-conscious consumers. Its operating margin ranks in the 96th percentile of its sector, building a durable barrier built on franchise cash flows.

GrowthSteady

Revenue grew 12.0% to $1.4B, accelerating past historical annual figures. This top-line momentum is driven by steady franchise expansion and rising membership volumes.

Financial healthFair

Net debt sits at $2.0B with interest coverage at 3.4x, leaving narrow room for error. Free cash flow reached $262M, but heavy buybacks of $698M exceed cash generation and keep the balance sheet soft.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

2 insiders bought $612K on the open market. 1 sold $359K outside pre-planned sales.

Our sealed record on PLNT

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is PLNT a good business?

Planet Fitness scores good on the Cluenex quality check (6.8 of 10), measured against its own industry. Profitability is strong, moat fair, growth steady and financial health fair.

Are insiders buying PLNT?

In the last 90 days of SEC Form 4 filings: 2 insiders bought $612K on the open market. 1 sold $359K outside pre-planned sales.

When does PLNT report earnings?

Nov 4, 2026, before the open.

For members

See PLNT today

  • Today's verdict on PLNT, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Planet Fitness (PLNT)”, https://cluenex.com/stocks/plnt/, data as of Oct 10, 2026.