Planet Fitness Inc (PLNT)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 982,918 | 794,724 | 437,793 | 251,991 | 133,166 |
| Revenue | US$ in thousands | 1,180,040 | 984,750 | 853,868 | 510,324 | 326,538 |
| Gross profit margin | 83.30% | 80.70% | 51.27% | 49.38% | 40.78% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $982,918K ÷ $1,180,040K
= 83.30%
The gross profit margin of Planet Fitness Inc has demonstrated a notable upward trend over the past few years. Starting at 40.78% on December 31, 2020, the margin has consistently improved to reach 83.30% by December 31, 2024. This indicates that the company has become more efficient in managing its production costs and generating higher revenues from its core business operations. The significant increase in gross profit margin from 2020 to 2024 reflects improved profitability and cost control measures implemented by Planet Fitness Inc.