What is Planet Fitness's net debt?

Planet Fitness (PLNT) reported net debt of $2.48B in Q1 2026.

How has Planet Fitness's net debt changed year-over-year?

Planet Fitness's net debt increased by 10.9% year-over-year, from $2.23B to $2.48B.

What is the long-term trend for Planet Fitness's net debt?

Over 5 years (2020 to 2025), Planet Fitness's net debt has grown at a 12.0% compound annual growth rate (CAGR), from $1.44B to $2.53B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Planet Fitness PLNT Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$337.2M+21.9%

Gross profit$291.9M+14.8%

Operating income$98.7M+24.6%

Net income$51.6M+23.1%

EPS (diluted)$0.65+30.0%

Balance sheet

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Cash & equivalents$456.5M+14.0%

Total debt$2.9B+11.4%

Total equity-$482.2M-119%

Total assets$3.1B+0.4%

Cash flow

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Operating cash flow$147.5M+10.2%

CapEx$25.5M+10.6%

Free cash flow$122.0M+10.1%

Valuation

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Market cap$4.19B-27.3%

Enterprise value$6.67B-19.0%

P/E18.3×-13.8×

P/S3×-1.7×

Profitability

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Gross margin81.7%-1.7pp

Operating margin29.9%+2.0pp

Net margin16.5%+1.7pp

FCF margin19.2%-0.3pp

Returns & leverage

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Return on equity-65.2%—

Debt / equity50.9×—

Current ratio2.1×0.0×

Where this comes from

Calculated from Planet Fitness’s reported figures.

$2.9Btotal debt−$456.5Mcash and equivalents=$2.48B

The official record: Planet Fitness’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Planet Fitness's net debt?: Planet Fitness (PLNT) reported net debt of $2.48B in Q1 2026.
How has Planet Fitness's net debt changed year-over-year?: Planet Fitness's net debt increased by 10.9% year-over-year, from $2.23B to $2.48B.
What is the long-term trend for Planet Fitness's net debt?: Over 5 years (2020 to 2025), Planet Fitness's net debt has grown at a 12.0% compound annual growth rate (CAGR), from $1.44B to $2.53B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.