Planet Fitness, Inc. Class A (PLNT)

Over the past six months, Planet Fitness's stock price has declined by approximately 27.63%. Key events include Q4 2025 earnings exceeding expectations, membership and sales growth slightly below analyst expectations, a $350 million share repurchase agreement, a $750 million refinancing transaction, and upcoming price increases on Black Card memberships.

Demand for Planet Fitness memberships exhibits seasonal trends, with a surge in January due to New Year's resolutions. Membership rates stabilize from February to April, with a slight dip in February. Summer months see a decline, followed by a rebound in September and October. November and December often see a decline due to the holiday season. However, Planet Fitness has demonstrated reduced seasonality in recent years and uses programs like the "High School Summer Pass Program" to build brand loyalty and mitigate summer dips.

Planet Fitness, Inc. operates in the Consumer Services sector, specifically the Gym, Health & Fitness Clubs industry. Its business model focuses on franchising, with over 90% of clubs owned by franchisees. Revenue is generated through franchise operations, corporate-owned clubs, and equipment sales to franchisees. The company offers various membership options, including standard and Black Card memberships, and sells branded apparel and accessories.

As of December 31, 2025, Planet Fitness has approximately 20.8 million members across 2,896 clubs. The company operates in all 50 U.S. states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia, and Spain.

Planet Fitness has maintained a strong brand reputation, particularly for its inclusive atmosphere. The company was recognized as the highest-ranking gym in Entrepreneur's 2026 Fastest-Growing Franchises list. In February 2025, Planet Fitness offered free "Black Card" memberships to firefighters in the Greater Los Angeles area to support their fitness and health recovery after the January 2025 Southern California wildfires.

Planet Fitness, Inc. has a significant institutional ownership presence, with 462 institutional owners and shareholders holding a total of 92,142,001 shares. Major institutional owners include BlackRock, Inc., T. Rowe Price Investment Management, Inc., Vanguard Group Inc, SRS Investment Management, LLC, Price T Rowe Associates Inc /md/, Ninety One UK Ltd, Jpmorgan Chase & Co, Dorsal Capital Management, LLC, State Street Corp and Steadfast Capital Management Lp.