PLNT NYSE Russell 1000 Earnings call
Planet Fitness (PLNT) · Q2 2026 results and valuation
Share price: $61.19 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 6 Aug 2026 and 7 May 2026
Net income up 30.1% on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+30.1%
Net income vs Q1 2026
Outlook given
Net income 67.1M vs 51.6M
Revenue +8.3%
Against the same quarter last year (Q2 2025) it is +15.6%, so it is not just seasonal.
2 · How management spoke
Typical
More upbeat than 50% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Guidance
Planet Fitness still expects system-wide same club sales growth to be approximately 1% and revenue to grow approximately 7% and adjusted EBITDA to…
Valuation
Is Planet Fitness undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 12.2% growth a year (3-year revenue growth), the model's fair value is $65.62 a share — the stock trades 7% below it. Today's price assumes 11.6% growth a year.
Current price
$61.19
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+11.6% for 10 yrs
Fair value / share
$65.62
Buy below
$49.22
Price vs fair value
Undervalued 7%
Price vs buy-below price
Overvalued 24%
Management expects
Revenue +7% · from the Q2 2026 report: “Guidance still calls for roughly 7% revenue growth, 1% same-club sales growth, and 6% adjusted EBITDA growth.”
A guidance figure for revenue, usually one year ahead, not a 10-year free-cash-flow rate.
Read between the lines
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Key theme
The Dynamic Creative Optimization engine remains on track for a rolling launch beginning in September to help the company better tailor messaging and reach target audiences across multiple media channels.
Source quote
“To support that work, our Dynamic Creative Optimization engine remains on track for a rolling launch beginning in September. As we refine our creative and optimize our media mix, our goal is to better reach our target audience across social platforms and multiple media channels. This will allow us to better tailor creative and our messaging over time as we reach prospective members with greater relevance.”
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Figure
Planet reported over $5 billion in total system-wide sales, reflecting the company's size and reach.
Source quote
“What drew me to Planet fits was its size and reach, over $5 billion in total system-wide sales, nearly 3,000...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“I have spent my career focused on turning strategy into disciplined execution, driving margin expansion, capital efficiency and shareholder value and I see tremendous opportunity to do exactly that here...”
“The strong progress we've seen in Australia demonstrates we can deploy capital in a disciplined, focused manner to accelerate Planet Fitness' international expansion.”
“This is an important milestone and a clear signal of the momentum we are building behind disciplined, long-term system growth.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 365.2M | 337.2M | +8.3% | 340.9M | +7.1% |
| Gross profit | 300.7M | 291.9M | +3.0% | 281.5M | +6.8% |
| Operating income | 123.8M | 98.7M | +25.5% | 102.4M | +20.9% |
| Net income | 67.1M | 51.6M | +30.1% | 58.0M | +15.6% |
| P/E | — | — | — | — | — |
Topics
Most discussed now
- Specific to the $10 Classic Card promo, it is a promo window.
- New Tom stepped back in at a critical moment for this company and did an excellent job stabilizing the finance organization...
- New High school summer passed last year, Planet Fitness had a significant increase in participation, more than 30% increase in participation…
- New Planet Fitness has seen, again, Gen Z as the fastest growing proportion of its membership and also the largest proportion of...
- Planet Fitness is pleased to welcome Sudhanshu Priyadarshi to Planet Fitness, a proven global leader with more than 25 years of...
Faded since Q1 2026
- Fading The fitness industry continues to enjoy a number of long-term tailwinds as more people recognize the critical role movement plays...
- Fading This is why the company took the lead and rolled out online member management nationally in May of last year.
- Fading It's almost impossible not to make net member growth profitable.
- Fading Q1 being so such a big piece of that net member growth change for the year, it kind of has...
Latest announcements
Official filings, newest first.
- Results of operations · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K