• Planet Fitness recently reported its 2025 operational results, with membership reaching about 20.8 million, 181 new clubs opened, and system‑wide same‑club sales rising 6.7% to end the year with 2,896 locations.
• This combination of growing member numbers, new franchised and corporate sites, and improving same‑club performance highlights how the model is scaling across the network.
• Next, we’ll examine how this membership growth and accelerated club expansion could influence Planet Fitness’s existing investment narrative and long‑term outlook.

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Planet Fitness Investment Narrative Recap

To own Planet Fitness, you generally need to believe its low cost, beginner friendly model can keep adding members and clubs without eroding economics. The latest update of 20.8 million members, 181 openings, and 6.7% same club sales growth supports the near term growth catalyst of continued network expansion, but does not remove the key risk that heavier reliance on new locations could pressure returns if franchise appetite or unit performance slows.

Among recent announcements, the US$750 million refinancing of its securitized debt facility stands out, as it refreshes Planet Fitness’s funding capacity while it continues to add clubs and support franchise expansion. For investors focused on how membership growth translates into sustainable earnings, this funding move sits alongside the club opening pace as a key context for assessing the durability of the expansion story.

Yet behind the strong membership headline, there is a risk investors should be aware of if new clubs begin to cannibalize existing locations...

Planet Fitness' narrative projects $1.6 billion revenue and $312.8 million earnings by 2028.

Uncover how Planet Fitness' forecasts yield a $130.41 fair value, a 30% upside to its current price.

Exploring Other Perspectives

Three Simply Wall St Community fair value estimates span roughly US$37 to US$130 per share, underlining how far apart individual views can sit. When you set those side by side with Planet Fitness’s heavy reliance on adding new clubs for earnings growth, it becomes clear why many readers may want to explore several different perspectives before forming a view.

Explore 3 other fair value estimates on Planet Fitness - why the stock might be worth as much as 30% more than the current price!

Build Your Own Planet Fitness Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Planet Fitness research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Planet Fitness research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Planet Fitness' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.