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18 / Valuation / DCF
Planet Fitness
A DCF for a franchised fitness platform, built around same-store sales, margin progression, capex, working capital, terminal value, and exit-multiple sensitivity.
Decision signalPLNT / MODEL 18
$82.34Implied share price · 10.28% WACC · 18.0x exit multiple
Model chart / DCF build$1.66B revenue 2029E
revenueEBITDA$mm · base case
$82.34implied share price
10.28%WACC
18.0xexit multiple
01 / The question
Can recurring revenue support a higher terminal value?
The model tests whether club growth and franchised economics can compound into a durable margin profile. Revenue growth is paired with EBITDA expansion, capex, working capital, and an explicit exit multiple so the terminal value is visible rather than hidden.
The chart makes the operating bridge legible: growth is not the conclusion by itself; the value comes from how much of that growth reaches cash flow after reinvestment.
02 / What the model does
Turns an operating story into a sensitivity.
Exit-multiple and WACC tables show how quickly the implied share price can move when the terminal assumptions change. That makes the DCF easier to challenge and easier to update.