Planet Fitness (PLNT) Cash Flow: Operating & Free Cash Flow

Planet Fitness (PLNT) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Planet Fitness generated $418.42M of operating cash flow and spent $163.67M on capital expenditures. That left free cash flow of $254.75M, up 34.9% from $188.81M a year earlier, or 19.2% of revenue. It returned $501.88M to shareholders through $1.51M in dividends and $500.37M in share buybacks.

Planet Fitness Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Planet Fitness, Inc. (PLNT) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	220.26	174.24	147.04	110.46	46.12	-14.99	135.41	103.16	55.60
Depreciation & Amortization	155.79	160.35	149.41	124.02	62.80	53.83	44.58	35.64	32.10
Deferred Income Tax	66.31	56.99	49.23	34.79	13.27	1.26	27.59	28.70	55.07
Stock Based Compensation	12.33	8.91	7.91	8.07	8.81	4.78	4.83	5.48	2.53
Change in Working Capital	13.92	-19.63	6.88	-21.15	36.14	-19.32	-14.82	0.87	-18.89
Change in Accounts Receivable	7.23	-36.46	4.76	-19.18	-10.80	23.61	-0.90	-1.92	-10.48
Change in Inventory	-1.38	-1.48	0.60	-4.11	-0.68	0.40	4.24	-2.43	-0.89
Change in Accounts Payable	6.93	17.31	-0.98	0.00	30.93	-10.94	-6.27	14.51	4.21
Change in Other Working Capital	-50.32	-38.98	-29.59	2.14	16.70	-22.89	-11.90	-12.31	-11.12
Other Operating Activities	70.41	-38.98	-29.59	-15.97	22.15	0.43	6.72	10.56	4.61
Net Cash from Operating Activities	418.42	343.87	330.25	240.21	189.29	31.14	204.31	184.40	131.02
Investing Activities
Capital Expenditures	-163.67	-155.06	-135.99	-100.06	-54.07	-52.56	-110.80	-86.61	-37.72
Acquisitions	-3.08	0.00	-43.26	-404.12	-1.89	0.00	0.00	0.00	0.00
Purchases of Investments	-156.03	-156.03	-241.23	-2.45	-35.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	141.58	103.67	80.49	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	-2.64	-2.15	0.10	0.06	0.05	0.28	-52.80	-45.56	0.68
Net Cash from Investing Activities	-160.16	-208.71	-339.99	-506.57	-90.92	-52.28	-110.69	-86.42	-37.04
Financing Activities
Debt Repayment	-431.56	-608.79	-20.94	249.92	-17.68	57.34	537.91	487.48	-7.21
Common Stock Issued	1.85	21.88	9.16	0.93	8.19	2.57	2.86	1.21	0.48
Common Stock Repurchased	-500.37	-300.21	-125.03	-94.32	0.00	0.00	-458.17	-342.38	0.00
Dividends Paid	-1.51	-4.79	0.00	0.00	0.00	0.00	0.00	0.00	-1.97
Other Financing Activities	-15.31	-17.88	-4.61	-20.80	-0.75	-2.06	-18.26	-36.39	-13.00
Net Cash from Financing Activities	-198.10	-105.00	-141.42	135.73	-10.25	57.85	64.35	109.92	-21.70
Summary
Effect of Forex Changes on Cash	2.12	-2.61	0.78	-0.81	0.01	0.30	0.69	-0.84	0.41
Net Change in Cash	62.28	27.55	-150.38	-131.44	88.14	37.01	158.66	207.06	72.69
Cash at Beginning of Period	349.67	322.12	472.50	603.94	515.80	478.80	320.14	113.08	40.39
Cash at End of Period	411.96	349.67	322.12	472.50	603.94	515.80	478.80	320.14	113.08
Free Cash Flow	254.75	188.81	194.27	140.15	135.22	-21.42	93.51	97.79	93.30
Supplemental Disclosures
Interest Paid	-	90.85	81.18	80.96	74.87	75.63	-	-	-
Income Taxes Paid	-	12.07	5.26	3.63	1.85	-2.16	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Planet Fitness Cash Flow

What is Planet Fitness's free cash flow?

Planet Fitness generated free cash flow of $254.75M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $418.42M minus $163.67M of capital expenditures. That was up 34.9% from $188.81M a year earlier. Free cash flow equaled 19.2% of revenue.

How much does Planet Fitness spend on capital expenditures?

Planet Fitness spent $163.67M on capital expenditures in fiscal 2025, compared with $155.06M a year earlier. That equals 39.1% of operating cash flow.

Does Planet Fitness pay dividends or buy back shares?

Yes. In fiscal 2025 Planet Fitness returned $1.51M in dividends and $500.37M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition