Callaway Golf Co (CALY) is fairly valued and Planet Fitness Inc (PLNT) is undervalued.
Against our estimates of intrinsic value, PLNT trades at the wider discount: a margin of safety of +58%, against -2% for CALY.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.4% (average of 2 methods) values the shares at $14.52; the price of $14.81 is 2% above that value, and 74% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 7.8% (average of 3 methods) values the shares at $100.62; the price of $42.60 is 58% below that value, and 81% of that value comes from beyond year five.
Leak Score 100/100 on 2 of 12 signals
| Metric | CALY | PLNT |
|---|---|---|
| Verdict | Fairly valued | Undervalued |
| Price | $14.81 | $42.60 |
| Intrinsic value | $14.52 | $100.62 |
| Margin of safety | -2% | +58% |
| Leak Score | 0/100 (2/12) | 100/100 (2/12) |
| Market cap | $2.6B | $3.2B |
| Revenue growth, 5 years | 5.3% | 26.6% |
| Operating margin | 8.6% | 30.9% |
| Net margin | -9.0% | 16.9% |
| Return on equity | 3.0% | — |
| Debt to equity | 0.13 | — |
| P/E | — | 14.4x |
| Forward P/E | 16.5x | 11.7x |
| P/B | 1.2x | — |