Planet Fitness (PLNT)
NYSEConsumer DiscretionaryLeisureSnapshot 2026-09-04
$50.87-1.22%
Close 2026-09-04 · 1-day change
NYSEConsumer DiscretionaryLeisureSnapshot 2026-09-04
Warn: Management is running behind on a stated commitment.
Planet Fitness grows revenue about 7% in 2026 with strong club expansion. They plan to open around 185 new clubs this year. Profitability remains stable with positive earnings beats. The company benefits from steady demand for affordable gyms.
Revenue growth guidance was lowered from 9% to 7%, showing slowing momentum. Same club sales growth was cut sharply to about 1%. Recent selloff and analyst downgrades signal risks to growth and member trends.
The market prices in about 7% revenue growth and a fair value near $67, which is 22% below current price. Our fair value is below the Street median, reflecting cautious growth expectations.
Breaks if: new club openings fall below 160 in FY26
Plan to open about 180 to 190 new Planet Fitness clubs system-wide during 2026, including franchisee and corporate-owned locations.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a durable compounder with a focus on steady growth. The current thesis state is intact, supported by robust earnings quality and strong recent results, despite some mixed management priorities.
The market currently reflects a justified valuation with a low expectations gap. There is no significant fragility in the pricing, indicating that the current performance is well-absorbed by investors.
Management aims for approximately 7% revenue growth in 2026, which appears on track. However, same club sales growth has been adjusted downwards, indicating a mixed performance outlook.
The thesis hinges on management's ability to meet growth targets and external factors such as inflation and sector performance. If guidance is cut or inflation rises, it could negatively impact PLNT's trajectory.
The most important moves since the prior daily snapshot.
Mixed, the news cuts both ways. The latest earnings beat supports revenue growth goals. However, system-wide same club sales growth slowed to 1%, which poses a challenge.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 3 of last 3 quarters. Management targets opening approximately 180 to 190 new clubs in 2026. Actual openings were 15 in 2026-Q1 and 23 in 2026-Q2, totaling 38 new clubs in half a year, consistent with the annual target trajectory.
“System-wide new club openings of approximately 180 to 190 locations.”
“System-wide new club openings of approximately 180 to 190 locations.”
“The Company expects system-wide new club openings of approximately 160 to 170 locations in 2025 and 180 to 190 in 2026.”
Breaks if: YoY revenue growth falls below 5% in FY26
Achieve approximately 7% revenue growth in 2026 compared to 2025 results, reflecting updated growth expectations.
Stated as a priority in 3 of last 3 quarters. Revenue grew from $1.3 billion in 2025 to $1.4 billion expected in 2026, an approximately 7% increase. Management updated the growth expectation downward from 9% to 7% in 2026-Q1 but has reiterated the 7% target since, indicating delivery on a moderated growth trajectory.
“For the year ending December 31, 2026, the Company is reiterating the following expectations: Revenue to increase approximately 7%”
“The Company is updating certain of its 2026 growth expectations over 2025 results as follows: Revenue to increase approximately 7% (previously approximately 9%).”
“The Company expects revenue to increase approximately 9% in 2026, updated later to 7%.”
Breaks if: same club sales growth falls below 0% in FY26
Overall, PLNT is navigating a challenging sector environment while maintaining solid fundamentals. Not investment advice.