Planet Fitness (PLNT) FY2019 results: revenue $689 million, up 20.2% on the year
Planet Fitness, Inc. (PLNT) reported revenue of $689 million for fiscal 2019, the year ended 31 December 2019, up 20.2% on the year before. Net income was $118 million, up 33.7%, and diluted earnings per share $1.41. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$689 million
+20.2% on the year
FY2013FY2019
Operating margin
33.8%
32.1% a year earlier
FY2013FY2019
Net income
$118 million
+33.7% on the year
FY2013FY2019
Diluted EPS
$1.41
+41.0% on the year
FY2013FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
689
573
430
+20.2%
Cost of revenue
194
163
129
+19.6%
Gross profit
494
410
301
+20.5%
Gross margin
71.8%
71.6%
69.9%
Selling, general and administrative
78.8
72.4
60.4
+8.8%
Operating income
233
184
148
+26.6%
Operating margin
33.8%
32.1%
34.3%
Interest expense
60.9
50.7
35.3
+19.9%
Pre-tax income
173
132
429
+31.4%
Income tax
37.8
28.6
374
+31.8%
Effective tax rate
21.8%
21.7%
87.0%
Net income
118
88.0
33.1
+33.7%
Net margin
17.1%
15.4%
7.7%
Diluted EPS
$1.41
$1.00
$0.42
+41.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
204
184
131
+10.8%
Capital expenditure
57.9
40.9
37.7
+41.7%
Free cash flow
146
144
93.3
+2.0%
Free cash flow margin
21.3%
25.1%
21.7%
Cash from investing
-111
-86.4
-37.0
Cash from financing
64.3
110
-21.7
-41.5%
Depreciation and amortisation
44.3
35.3
31.8
+25.8%
Share-based compensation
4.8
5.5
2.5
-11.9%
Buybacks
458
342
n/a
+33.8%
Dividends paid
n/a
0.0
0.0
Diluted shares, weighted
84m
88m
79m
-4.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-706
-375
-119
Non-controlling interest
-1.3
-8.2
-17.5
Debt
1,705
1,172
704
+45.5%
Operating lease liabilities
153
n/a
n/a
Finance lease liabilities
0.3
n/a
n/a
Other liabilities
567
564
526
+0.5%
Total liabilities and equity
1,717
1,353
1,092
+26.9%
Fixed assets
145
114
83.3
+27.2%
Goodwill
228
200
177
+14.2%
Intangible assets
234
234
236
-0.2%
Cash and equivalents
436
289
113
+50.7%
Receivables
42.3
39.0
37.3
+8.5%
Inventory
0.9
5.1
2.7
-82.9%
Other assets
631
472
443
+33.7%
Total assets
1,717
1,353
1,092
+26.9%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.