Holmes Place 2025: More Members, More Clubs, Less Net Profit
Holmes Place ended 2025 with real growth in clubs and members, but still without full proof that this expansion can flow through to net profit at a similar pace.
March 31, 2026
Holmes Place
Operates health & fitness clubs in israel.
Sector: ServicesMarket cap: NIS 663M
All analyses
Analyses on Holmes Place (1)
Follow-up dives
Follow-up dives on Holmes Place (2)
Follow-up
Holmes Place: The Real Cash Test After Prepaid Memberships, Taxes and Leases
Holmes Place benefits from a subscription model that pulls cash forward, but in 2025 that cash did not turn into truly free financial flexibility: after investment, lease principal and dividends, the year only closed through fresh debt and fresh equity.
March 31, 2026
Follow-up
Holmes Place: Why Icon Expands the Network but Dilutes Margin
Icon is expanding Holmes Place's network faster than it is converting that expansion into margin, so by 2025 it was already dominant in footprint but still not in the group's economics.
March 31, 2026
Same sector
