Key Stats for Planet Fitness Stock
- Past-Week Performance: 0.1%
- 52-Week Range: $87 to $114
- Current Price: $91
What Happened?
Planet Fitness heads into its February 24 (today) earnings date carrying genuine momentum, with 20.8 million members, 6.7% same-club sales growth, and 181 new club openings in 2025 pushing PLNT to $90.75 while the fitness industry undergoes a generational consumer shift.
Ahead of earnings, Jefferies analyst Randal Konik hosted CEO Colleen Keating and CFO Jay Stasz at the ICR Conference on January 13, giving Wall Street direct management access that reinforced confidence in the company’s multi-year unit growth trajectory and franchisee sentiment.
The operational engine driving this story runs on three cylinders simultaneously: Black Card penetration hitting an all-time high above 66%, a planned price increase from $24.99 to $29.99 on the Black Card, and a new Mexico franchise agreement with Impulso Gym targeting Tijuana and Mexicali announced February 17.
Beyond the near-term numbers, the market is beginning to re-rate Planet Fitness from a mature domestic franchise operator into a global fitness infrastructure platform, as Spain’s NPS scores, Mexico’s sub-7% gym penetration rate, and the 1-to-2 new international markets per year commitment reframe the total addressable market entirely.
CEO Colleen Keating stated at the ICR Conference that “we are in the golden age of fitness,” contextualizing the company’s 30% lift in High School Summer Pass participation and accelerating Gen Z membership growth as structural tailwinds rather than cyclical noise.
Supporting that conviction, Jefferies used its ICR platform to spotlight Planet Fitness directly, with Konik framing the company as “the Walmart of the gym space” while management confirmed franchise IRRs running solidly in the mid-20s on new club openings.
Over the next three to five years, Planet Fitness’s combination of 6% to 7% annual unit growth, an asset-light 90% franchise model, and accelerating international expansion into underpenetrated markets positions the company to widen its lead as the world’s dominant high-value low-price fitness brand.
Wall Street’s Take on PLNT Stock
With Q4 earnings dropping today, and operational metrics already confirming 20.8 million members and 6.7% same-club sales growth, Planet Fitness enters its most consequential reporting event of the year with the fundamental story already pointing decisively upward.
Analysts project revenue climbing to $1.5 billion in fiscal year 2026, representing 11.1% growth, while normalized EPS accelerates 16.5% to $3.54 and EBITDA margins expand to 42.6%, giving the bull case a margin expansion story on top of the unit growth narrative.
Wall Street stands firmly behind the recovery thesis, with 11 analysts rating PLNT a Buy and the mean price target sitting at $130.0 against a current price of $90.75, implying a substantial 43.3% upside from current levels.
The target spread reinforces the conviction, with the Street’s low at $100.0 and the high reaching $185.0, reflecting genuine disagreement about how aggressively Planet Fitness can execute its international expansion and Black Card price increase simultaneously.
What Does the Valuation Model Say?
Backed by record membership, a planned Black Card price hike to $29.99, and new Mexico franchise agreements, TIKR’s mid-case valuation model prices PLNT at $146.0 by the end of the decade, implying a 60.8% total return at a 13.1% annualized IRR from today’s price.
The central risk is multiple compression, as the model projects a 5.4% annual P/E contraction even in the mid-case scenario, meaning Planet Fitness must sustain consistent earnings growth and execute the Black Card price increase without membership attrition to offset that valuation headwind.
At $90.75 and trading 43.3% below Wall Street’s mean target with earnings due tomorrow, Planet Fitness looks meaningfully undervalued for investors willing to let the February 24 results confirm what the operational metrics have already been signaling.
Should You Invest in Planet Fitness, Inc.?
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Pull up Planet Fitness stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
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