Planet Fitness lifted revenues and memberships last year, yet shares have been dipping because of analysts' perception of the outlook.

The US franchising giant reported revenues up by 10.5 per cent in the fourth quarter of 2025 to US$376.3 million. For the full fiscal year, revenue increased by 12.1 per cent to US$1.3 billion.

A total of 181 clubs opened in the year – 104 in the fourth quarter – bringing the number of members to 20.8 million.

System-wide, same club sales increased by 6.7 per cent for the full year and 5.7 per cent for the fourth quarter. There was also significant growth in equipment replacements.

"We're pleased with our strong performance in 2025 that was the result of our unwavering focus on our four strategic imperatives,” says CEO, Colleen Keating. “We ended the year with approximately 20.8 million members, and a global footprint of nearly 2,900 clubs, reinforcing the quality of our member experience and our core conviction that anyone can get a great workout at Planet Fitness for an incredible value. 

“Adding approximately 1.1 million net new members in 2025 – the first full-year of our 50 per cent price increase for new Classic Card members – highlights the incredible demand for our brand.

"The progress we made on both our topline and new club growth is evidence of our powerful scale and reach. Our scale provides a foundation to introduce our brand to even more people looking to improve their mental and physical health globally. I'd like to thank our franchisees and team members for their passion and commitment that helped drive this strong performance." 

There are plans to open 180 to 190 new clubs this year and place new equipment in 150 to 160 franchisee-owned locations. System-wide club same club sales growth is predicted to be around 4 to 5 per cent and revenue is expected to increase by 9 per cent. However, analysts would like more hence an 8 per cent dip in the share price.

Planet Fitness shares have been on an general upward trajectory since August 2015 – when they traded at US$16.78 – to today, when they're sitting at US$81.47. 

The highest point was reached on 25 July 2025 when they traded at US$112.75.

PF shares were up 1.35 per cent today, following falls over the last five days of 9.67.

They've fallen 9 per cent in the last year and are down 28 per cent on the year to date.