PLANET FITNESS, INC.

PLNT · Communications · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power94

Median gross margin 81.1% over 9y, stable.

Returns on capital84

Median ROIC 17.1%, above the 9% hurdle in 90% of years.

Balance-sheet safety6

Net debt/EBITDA 3.9x, interest coverage 4x.

Capital discipline80

Owner earnings +21.6%/yr, share count n/a.

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): $151.7M
Est. intrinsic value / share: —
Recent price: $52.70
Discount to value: No price data

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell PLNT. See the disclaimer.