Planet Fitness (PLNT) FY2020 results: revenue $407 million, down 41.0% on the year
Planet Fitness, Inc. (PLNT) reported revenue of $407 million for fiscal 2020, the year ended 31 December 2020, down 41.0% on the year before. Net income was -$15 million, and diluted earnings per share $-0.19. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$407 million
-41.0% on the year
FY2013FY2020
Operating margin
14.7%
33.8% a year earlier
FY2013FY2020
Net income
-$15 million
FY2013FY2020
Diluted EPS
-$0.19
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
407
689
573
-41.0%
Cost of revenue
71.0
194
163
-63.5%
Gross profit
336
494
410
-32.1%
Gross margin
82.5%
71.8%
71.6%
Selling, general and administrative
68.6
78.8
72.4
-13.0%
Operating income
59.8
233
184
-74.4%
Operating margin
14.7%
33.8%
32.1%
Interest expense
82.1
60.9
50.7
+34.9%
Pre-tax income
-14.5
173
132
Income tax
0.7
37.8
28.6
-98.2%
Effective tax rate
n/a
21.8%
21.7%
Net income
-15.0
118
88.0
Net margin
-3.7%
17.1%
15.4%
Diluted EPS
-$0.19
$1.41
$1.00
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
31.1
204
184
-84.8%
Capital expenditure
52.6
57.9
40.9
-9.2%
Free cash flow
-21.4
146
144
Free cash flow margin
-5.3%
21.3%
25.1%
Cash from investing
-52.3
-111
-86.4
Cash from financing
57.9
64.3
110
-10.1%
Depreciation and amortisation
53.8
44.3
35.3
+21.4%
Share-based compensation
4.8
4.8
5.5
-1.0%
Buybacks
0.0
458
342
Dividends paid
n/a
n/a
0.0
Diluted shares, weighted
80m
84m
88m
-4.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-706
-706
-375
Non-controlling interest
0.2
-1.3
-8.2
Debt
1,769
1,705
1,172
+3.7%
Operating lease liabilities
168
153
n/a
+9.8%
Finance lease liabilities
0.3
0.3
n/a
-1.8%
Other liabilities
618
567
564
+9.1%
Total liabilities and equity
1,850
1,717
1,353
+7.7%
Fixed assets
161
145
114
+10.4%
Goodwill
228
228
200
0.0%
Intangible assets
217
234
234
-7.2%
Securities held for sale or to maturity
0.0
n/a
n/a
Cash and equivalents
439
436
289
+0.7%
Receivables
16.4
42.3
39.0
-61.1%
Inventory
0.5
0.9
5.1
-46.1%
Other assets
788
631
472
+24.9%
Total assets
1,850
1,717
1,353
+7.7%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.