Planet Fitness, Inc. (PLNT) Balance Sheet
PLNT balance sheet, 2025
December 31, 2025 · U.S. dollars$3.10B assets = $3.59B liabilities + −$483.4M equity
Liabilities exceed assets: shareholders’ equity is negative (−$483.4M).
Both columns are drawn to the same scale: what PLNT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PLNT financial health
Descriptive bands, not a rating. Fiscal 2025.
PLNT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.00B2016 | $3.10B2025 | +13.4%/yr | |
| Total liabilities | $1.22B2016 | $3.59B2025 | +12.8%/yr | |
| Shareholders’ equity | −$130.8M2016 | −$483.4M2025 | — | |
| Cash & short-term investments | $40.4M2016 | $452.4M2025 | +30.8%/yr | |
| Total debt | $709.2M2016 | $2.90B2025 | +16.9%/yr | |
| Net cash (debt) | −$668.8M2016 | −$2.45B2025 | −$1.8B | |
| Working capital | $8.0M2016 | $345.9M2025 | +$337.9M | |
| Book value per share | −$3.022016 | −$5.772025 | — | |
| Current ratio | 1.102016 | 2.112025 | +1.01 | |
| Shares outstanding | 43.3M2016 | 83.7M2025 | +7.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PLNT assets
PLNT liabilities and equity
PLNT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PLNT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $452.4M | $407.3M | $350.7M | $409.8M | $545.9M | $439.5M | $436.3M | $289.4M | $113.1M | $40.4M |
| Cash & equivalents | $345.7M | $293.1M | $275.8M | $409.8M | $545.9M | $439.5M | $436.3M | $289.4M | $113.1M | $40.4M |
| Short-term investments | $106.8M | $114.2M | $74.9M | $0 | — | — | — | — | $499,000 | $3.1M |
| Receivables | $107.5M | $96.5M | $56.3M | $66.7M | $44.4M | $38.7M | $52.4M | $58.3M | $56.8M | $42.4M |
| Inventory | $7.6M | $6.1M | $4.7M | $5.3M | $1.2M | $473,000 | $877,000 | $5.1M | $2.7M | $1.8M |
| Other current assets | $90.9M | $78.0M | $60.1M | $73.7M | $70.9M | $88.2M | $50.6M | $35.7M | $4.4M | $6.7M |
| Total current assets | $658.4M | $588.0M | $471.8M | $555.5M | $662.4M | $566.8M | $540.1M | $388.5M | $177.0M | $91.2M |
| Property, plant & equipment (net) | $876.1M | $819.2M | $771.4M | $695.8M | $364.0M | $324.9M | $301.1M | $114.4M | $83.3M | $61.2M |
| Goodwill & intangible assets | $998.9M | $1.04B | $1.09B | $1.12B | $429.5M | $444.9M | $461.7M | $433.8M | $412.6M | $430.8M |
| Long-term investments | $158.0M | $141.3M | $128.4M | $25.1M | $18.8M | $0 | $0 | $0 | $340,000 | $306,000 |
| Other non-current assets | $412.1M | $477.3M | $508.1M | $458.4M | $541.3M | $513.1M | $414.2M | $416.7M | $419.2M | $417.8M |
| Total assets | $3.10B | $3.07B | $2.97B | $2.85B | $2.02B | $1.85B | $1.72B | $1.35B | $1.09B | $1.00B |
| Liabilities | ||||||||||
| Accounts payable | $39.7M | $32.9M | $23.8M | $20.6M | $27.9M | $19.4M | $21.3M | $30.4M | $28.6M | $28.5M |
| Short-term debt | $23.9M | $22.5M | $20.8M | $20.8M | $17.5M | $17.5M | $17.5M | $12.0M | $7.2M | $7.2M |
| Deferred revenue | $58.6M | $62.1M | $59.6M | $53.8M | $28.4M | $26.7M | $27.6M | $23.5M | $19.1M | $17.8M |
| Total current liabilities | $312.5M | $282.5M | $251.3M | $244.5M | $176.6M | $111.9M | $145.5M | $131.4M | $112.0M | $83.3M |
| Long-term debt | $2.46B | $2.15B | $1.96B | $1.98B | $1.74B | $1.75B | $1.69B | $1.16B | $696.6M | $702.0M |
| Lease obligations | $419.1M | $405.3M | $381.6M | $341.8M | $197.7M | $167.9M | $152.9M | — | — | — |
| Other long-term liabilities | $815.9M | $854.6M | $874.5M | $843.5M | $741.9M | $692.1M | $591.6M | $444.7M | $420.8M | $430.9M |
| Total liabilities | $3.59B | $3.29B | $3.09B | $3.07B | $2.66B | $2.56B | $2.42B | $1.74B | $1.23B | $1.22B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $8,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $10,000 | $12.1M | $34.5M |
| Retained earnings (deficit) | −$1.11B | −$822.2M | −$691.5M | −$703.7M | −$708.8M | −$751.6M | −$736.6M | −$394.4M | −$131.0M | −$164.1M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $1.3M | −$2.3M | $172,000 | −$448,000 | $12,000 | $27,000 | $303,000 | $94,000 | −$648,000 | −$1.2M |
| Minority interest | −$601,000 | $7,000 | −$3.3M | −$12.5M | $2.5M | $196,000 | −$1.3M | −$8.2M | −$17.5M | −$84.0M |
| Total shareholders' equity | −$483.4M | −$215.4M | −$115.6M | −$199.0M | −$645.4M | −$705.9M | −$706.5M | −$374.6M | −$119.5M | −$130.8M |
| Key figures | ||||||||||
| Total debt | $2.90B | $2.58B | $2.37B | $2.34B | $1.96B | $1.94B | $1.86B | $1.17B | $703.8M | $709.2M |
| Net cash (debt) | −$2.45B | −$2.17B | −$2.01B | −$1.93B | −$1.41B | −$1.50B | −$1.42B | −$882.7M | −$590.7M | −$668.8M |
| Working capital | $345.9M | $305.5M | $220.5M | $311.0M | $485.8M | $454.9M | $394.7M | $257.1M | $65.0M | $8.0M |
| Tangible book value | −$1.48B | −$1.26B | −$1.21B | −$1.32B | −$1.07B | −$1.15B | −$1.17B | −$808.4M | −$532.1M | −$561.6M |
| Book value per share | −$5.77 | −$2.51 | −$1.36 | −$2.35 | −$7.69 | −$8.79 | −$8.45 | −$4.27 | −$1.51 | −$3.02 |
| Shares outstanding | 83.7M | 85.8M | 85.2M | 84.5M | 83.9M | 80.3M | 83.6M | 87.7M | 79.0M | 43.3M |
| Current ratio | 2.11 | 2.08 | 1.88 | 2.27 | 3.75 | 5.07 | 3.71 | 2.96 | 1.58 | 1.10 |
| Quick ratio | 1.79 | 1.78 | 1.62 | 1.95 | 3.34 | 4.27 | 3.36 | 2.65 | 1.52 | 0.99 |
| Equity / assets | −15.6% | −7.0% | −3.9% | −7.0% | −32.0% | −38.2% | −41.1% | −27.7% | −10.9% | −13.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $400.8M | $473.8M | $452.4M | $443.4M | $442.7M | $453.6M | $407.3M | $407.4M | $350.2M | $395.1M | $350.7M | $417.4M |
| Cash & equivalents | $298.3M | $375.3M | $345.7M | $329.0M | $335.7M | $343.9M | $293.1M | $298.8M | $247.0M | $301.7M | $275.8M | $309.0M |
| Short-term investments | $102.5M | $98.5M | $106.8M | $114.4M | $107.0M | $109.7M | $114.2M | $108.6M | $103.2M | $93.4M | $74.9M | $108.5M |
| Receivables | $110.9M | $85.6M | $107.5M | $95.7M | $105.6M | $58.2M | $96.5M | $56.8M | $56.7M | $37.7M | $56.3M | $50.7M |
| Inventory | $9.2M | $4.8M | $7.6M | $7.0M | $4.3M | $2.0M | $6.1M | $4.9M | $5.2M | $5.0M | $4.7M | $7.5M |
| Other current assets | $107.2M | $122.9M | $90.9M | $79.6M | $84.7M | $89.8M | $78.0M | $87.3M | $81.8M | $83.1M | $60.1M | $64.5M |
| Total current assets | $628.1M | $687.1M | $658.4M | $625.6M | $637.4M | $603.6M | $588.0M | $556.4M | $493.9M | $520.8M | $471.8M | $540.1M |
| Property, plant & equipment (net) | $871.1M | $850.9M | $876.1M | $851.6M | $848.0M | $835.5M | $819.2M | $821.9M | $793.8M | $767.8M | $771.4M | $748.6M |
| Goodwill & intangible assets | $982.7M | $990.7M | $998.9M | $1.01B | $1.03B | $1.03B | $1.04B | $1.05B | $1.07B | $1.08B | $1.09B | $1.10B |
| Long-term investments | $127.2M | $165.9M | $158.0M | $148.6M | $154.2M | $151.3M | $141.3M | $130.6M | $125.3M | $121.5M | $128.4M | $56.3M |
| Other non-current assets | $395.8M | $410.1M | $412.1M | $426.2M | $453.5M | $466.5M | $477.3M | $485.9M | $495.0M | $503.8M | $508.1M | $496.9M |
| Total assets | $3.00B | $3.10B | $3.10B | $3.06B | $3.12B | $3.09B | $3.07B | $3.05B | $2.97B | $2.99B | $2.97B | $2.94B |
| Liabilities | ||||||||||||
| Accounts payable | $52.2M | $33.1M | $39.7M | $48.0M | $49.1M | $25.8M | $32.9M | $31.8M | $29.7M | $20.6M | $23.8M | $28.4M |
| Short-term debt | $100.8M | $25.8M | $23.9M | $22.5M | $22.5M | $22.5M | $22.5M | $22.5M | $20.5M | $20.8M | $20.8M | $20.8M |
| Deferred revenue | $80.9M | $86.4M | $58.6M | $65.2M | $77.3M | $80.8M | $62.1M | $67.5M | $76.1M | $77.3M | $59.6M | $64.4M |
| Total current liabilities | $396.5M | $331.7M | $312.5M | $300.4M | $310.2M | $287.5M | $282.5M | $286.3M | $272.1M | $246.5M | $251.3M | $272.8M |
| Long-term debt | $2.45B | $2.45B | $2.46B | $2.14B | $2.14B | $2.14B | $2.15B | $2.15B | $2.16B | $1.96B | $1.96B | $1.97B |
| Lease obligations | $415.6M | $407.0M | $419.1M | $417.6M | $432.9M | $433.2M | $405.3M | $408.6M | $401.4M | $390.4M | $381.6M | $379.8M |
| Other long-term liabilities | $774.9M | $802.4M | $815.9M | $817.0M | $827.8M | $880.6M | $854.6M | $876.7M | $865.2M | $886.5M | $874.5M | $870.2M |
| Total liabilities | $3.62B | $3.59B | $3.59B | $3.25B | $3.28B | $3.31B | $3.29B | $3.32B | $3.29B | $3.09B | $3.09B | $3.11B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $8,000 | $8,000 | $8,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 |
| Retained earnings (deficit) | −$1.24B | −$1.11B | −$1.11B | −$814.8M | −$774.8M | −$830.7M | −$822.2M | −$869.3M | −$910.6M | −$677.3M | −$691.5M | −$726.8M |
| Accumulated other comprehensive income | −$836,000 | −$605,000 | $1.3M | $1.1M | $1.0M | −$1.4M | −$2.3M | $220,000 | −$1.1M | −$435,000 | $172,000 | −$684,000 |
| Minority interest | −$2.0M | −$572,000 | −$601,000 | $406,000 | $413,000 | — | — | — | — | — | — | — |
| Total shareholders' equity | −$614.7M | −$482.8M | −$483.4M | −$194.8M | −$158.7M | −$219.9M | −$215.4M | −$266.1M | −$317.7M | −$96.4M | −$115.6M | −$157.1M |
| Key figures | ||||||||||||
| Total debt | $2.96B | $2.89B | $2.90B | $2.58B | $2.59B | $2.60B | $2.58B | $2.58B | $2.58B | $2.37B | $2.37B | $2.37B |
| Net cash (debt) | −$2.56B | −$2.41B | −$2.45B | −$2.13B | −$2.15B | −$2.15B | −$2.17B | −$2.18B | −$2.23B | −$1.98B | −$2.01B | −$1.95B |
| Working capital | $231.6M | $355.3M | $345.9M | $325.2M | $327.2M | $316.1M | $305.5M | $270.2M | $221.7M | $274.3M | $220.5M | $267.3M |
| Tangible book value | −$1.60B | −$1.47B | −$1.48B | −$1.20B | −$1.18B | −$1.25B | −$1.26B | −$1.32B | −$1.38B | −$1.18B | −$1.21B | −$1.26B |
| Book value per share | −$7.97 | −$6.05 | −$5.83 | −$2.33 | −$1.88 | −$2.61 | −$2.55 | −$3.14 | −$3.65 | −$1.11 | −$1.34 | −$1.85 |
| Shares outstanding | 77.1M | 79.8M | 82.9M | 83.7M | 84.2M | 84.4M | 84.4M | 84.7M | 87.0M | 87.2M | 86.2M | 84.9M |
| Current ratio | 1.58 | 2.07 | 2.11 | 2.08 | 2.05 | 2.10 | 2.08 | 1.94 | 1.81 | 2.11 | 1.88 | 1.98 |
| Quick ratio | 1.29 | 1.69 | 1.79 | 1.79 | 1.77 | 1.78 | 1.78 | 1.62 | 1.50 | 1.76 | 1.62 | 1.72 |
| Equity / assets | −20.5% | −15.6% | −15.6% | −6.4% | −5.1% | −7.1% | −7.0% | −8.7% | −10.7% | −3.2% | −3.9% | −5.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
PLNT financial position
At the end of fiscal 2025 (December 31, 2025), Planet Fitness had total assets of $3.1 billion (up 1.1% from a year earlier), total liabilities of $3.6 billion and shareholders' equity of -$483.4 million. It held $452.4 million in cash and short-term investments against $2.9 billion of debt, net debt of $2.4 billion. Its current ratio was 2.11. In the latest quarter (ended June 30, 2026) total assets were $3.0 billion and equity -$614.7 million.
Related: PLNT income statement, PLNT cash flow statement, PLNT key metrics. See the PLNT stock overview for the latest quote and news.
PLNT balance sheet FAQ
What are Planet Fitness's total assets?
Planet Fitness reported total assets of $3.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.1 billion a year earlier.
How much debt does Planet Fitness have?
Planet Fitness had $2.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Planet Fitness have?
Planet Fitness held $452.4 million in cash and short-term investments at the end of fiscal 2025; with $2.9 billion of debt that is net debt of $2.4 billion.
What is Planet Fitness's book value?
Planet Fitness's shareholders' equity (book value) was -$483.4 million at the end of fiscal 2025, or −$5.77 per share.
What is Planet Fitness's current ratio?
Planet Fitness had current assets of $658.4 million and current liabilities of $312.5 million, a current ratio of 2.11 (it can cover its short-term obligations).
How much goodwill does Planet Fitness have?
Planet Fitness carried $998.9 million of goodwill and intangible assets, 32.2% of total assets, at the end of fiscal 2025.