Peloton Interactive, Inc. PTON

Consumer DiscretionaryLeisure ProductsUnited States of America

Last close 5.28 USD on Nov 1, 2026, −16.9% year to date

Quant rating

Quant rating B Rank 130 of 344 in Consumer Discretionary

Growth B 103 of 344
Valuation A 50 of 344
Quality C 184 of 344
Revisions B 103 of 344
Momentum D 258 of 344

Wall Street consensus Hold (2.57)Average target 7.86 USD +48.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.3B
Enterprise value: 2.4B
52-week range: 3.65 – 7.92
3-year range: 2.88 – 10.57
Dividend yield: –
Beta (5 years): 2.57
Shares outstanding: 446M
Next earnings: Nov 5, 2026

About the company

Peloton Interactive, Inc. is a global fitness and wellness company. The Company specializes in interactive fitness platform. The Company provides connected, technology-enabled fitness and the streaming of instructor-led classes to its members. Its instructors teach classes across a variety of fitness and wellness disciplines, including indoor cycling, indoor/outdoor running and walking, bootcamp, yoga, strength training, stretching, and meditation. The Company's segments include Connected Fitness Products and Subscription. The Connected Fitness Products segment includes the sale of the Company's portfolio of Connected Fitness Products and related accessories, including Precor-branded fitness products, delivery and installation services, Peloton Bike portfolio rental products, extended warranty agreements, branded apparel, and commercial service contracts. The Subscription segment includes its Paid Connected Fitness Subscriptions and Paid Peloton App Subscriptions.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	2,446	2,491	2,700	2,800	3,582	–
Revenue growth	−1.8%	−7.8%	−3.6%	−21.8%	−10.9%	−9.5%
EPS (basic, normalized)	0.14	−0.30	−1.66	−3.64	−7.69	–
EPS growth	–	–	–	–	–	–
Gross margin	52.6%	50.9%	44.7%	33.0%	19.5%	40.1%
Net margin	2.6%	−4.8%	−20.4%	−45.1%	−78.9%	−29.3%
ROE	–	–	–	−847.3%	−241.0%	−544.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,207
Current ratio	2.84x
Long-term debt (mil)	1,289
Net debt (mil)	92.5
Total equity (mil)	−140
Net debt / equity	−0.66x
Net debt / EBITDA	0.20x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	2,446	−1.8%	1.0x	468	+34.7%	5.1x	0.14	+146.7%	37.7x
2027	2,363	−3.4%	1.0x	502	+7.1%	4.7x	0.32	+129.0%	16.5x
2028	2,344	−0.8%	1.0x	490	−2.3%	4.8x	0.34	+6.7%	15.4x
2029	2,358	+0.6%	1.0x	438	−10.7%	5.4x	0.29	−14.3%	18.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	2,363	−0.1%	−2.2%	−3.2%	0.32	0.0%	+3.9%	+6.1%
2028	2,344	0.0%	−4.3%	−4.4%	0.34	0.0%	−6.4%	−15.1%
2029	2,358	0.0%	−20.1%	−15.9%	0.29	0.0%	−28.5%	−22.8%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	718	644	586	674	624	607	551	656	631	608
Sales mean (mil)	723	630	575	654	621	580	540	674	618	598
Surprise	−0.8%	+2.1%	+1.9%	+3.0%	+0.4%	+4.7%	+2.0%	−2.6%	+2.2%	+1.7%
EPS reported	−0.43	−0.22	0.00	−0.24	−0.12	0.05	0.03	−0.09	0.06	0.13
EPS mean	−0.37	−0.17	−0.16	−0.18	−0.06	−0.06	0.00	−0.06	0.07	0.12
Surprise	−16.7%	−29.3%	+100.0%	−36.1%	−97.5%	−183.2%	+521.1%	−49.2%	−19.6%	+4.3%

Peer comparison Leisure Products

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PTON Peloton Interactive, Inc.	2.3B	0.20x	2.6%	−16.08x	16.5x	15.4x	4.7x	4.8x
YAMCY YAMAHA CORPORATION	3.6B	−1.98x	5.1%	1.09x	16.9x	15.8x	7.2x	7.2x
YETI YETI Holdings, Inc.	3.2B	0.13x	8.9%	5.23x	14.7x	13.0x	9.0x	8.3x
TOMYY Tomy Co Ltd	2.9B	−0.99x	4.3%	3.89x	19.6x	18.2x	12.0x	11.3x
CALY Callaway Golf Co	2.7B	−0.92x	1.9%	1.26x	19.8x	16.9x	9.7x	9.1x
DOO BRP Inc.	2.2B	2.10x	4.1%	18.58x	20.1x	15.8x	5.2x	4.6x
Mean		−0.25x	4.5%	2.33x	17.9x	15.8x	8.0x	7.6x
Median		−0.40x	4.2%	2.57x	18.2x	15.8x	8.1x	7.7x

Technical analysis

1M+6.7%
3M−21.8%
1Y−32.1%
3Y+19.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Peloton Interactive, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	2,446	2,491	2,700	2,800	3,582	4,022
Cost of revenue	1,159	1,222	1,494	1,877	2,884	2,570
Gross profit	1,287	1,268	1,206	923	698	1,452
Selling, general & administrative expenses	808	914	1,263	1,389	1,907	1,365
Research & development	235	224	294	307	339	238
Depreciation/amortization	31.1	44.7	57.8	68.8	96.0	37.2
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	52.5	97.9	69.8	334	753	–
Other operating expenses	0	23.5	−2.6	22.0	337	−0.1
Operating income	161	−36.2	−475	−1,197	−2,734	−188
Net interest income (expense)	−97.5	−79.4	−77.4	−63.7	−72.5	−10.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−0.1	0	0.7	2.8	−1.6	0
Net income before taxes	63.1	−116	−552	−1,258	−2,808	−198
Provision for taxes	−0.1	3.4	−0.2	3.7	19.6	−9.2
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	63.2	−119	−552	−1,262	−2,828	−189
Extraordinary items	–	–	–	–	–	–
Net income	63.2	−119	−552	−1,262	−2,828	−189
EBIT, normalized	227	61.7	−394	−759	−1,857	−113
EBITDA, normalized	284	151	−285	−635	−1,714	−48.8
Basic EPS, normalized	0.14	−0.30	−1.66	−3.64	−7.69	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Peloton Interactive, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	1,207	1,040	698	814	1,254	1,607
Receivables	82.5	101	104	97.2	83.6	71.4
Total inventory	135	206	330	523	1,104	937
Prepaid expenses	64.9	91.3	135	205	192	203
Other current assets	0	0	0	0	0.1	0
Total current assets	1,489	1,438	1,266	1,639	2,635	2,818
Property, plant & equipment	448	578	789	969	1,273	1,172
Goodwill	44.0	41.2	41.2	41.2	41.2	210
Intangibles	11.7	5.6	15.0	25.6	41.3	248
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	62.3	63.0	74.3	94.3	38.0	37.5
Total assets	2,056	2,125	2,185	2,769	4,028	4,486
Liabilities
Accounts payable	53.5	66.7	85.4	76.5	93.0	364
Payable/accrued	–	0.1	–	–	222	–
Accrued expenses	320	376	422	485	568	687
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	10.0	208	10.0	7.5	7.5	–
Other current liabilities	141	153	168	192	214	192
Total current liabilities	525	804	685	761	1,106	1,243
Long-term debt	1,289	1,290	1,490	1,679	1,554	830
Minority interest	–	–	–	–	–	–
Other liabilities	382	445	529	624	776	659
Total liabilities	2,196	2,539	2,704	3,064	3,436	2,732
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	5,385	5,184	4,949	4,620	4,291	2,619
Retained earnings (accumulated deficit)	−5,539	−5,603	−5,484	−4,932	−3,711	−883
Treasury stock	–	–	–	–	–	–
Other equity	15.0	5.0	16.0	16.9	12.2	18.2
Total equity	−140	−414	−519	−295	593	1,754
Total liabilities & shareholders' equity	2,056	2,125	2,185	2,769	4,028	4,486

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Peloton Interactive, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	63.2	−119	−552	−1,262	−2,828	−189
Depreciation, depletion & amortization	57.2	89.7	109	124	143	63.8
Deferred taxes	–	–	–	–	–	–
Non-cash items	303	335	391	636	1,064	286
Changes in working capital	−35.3	27.3	−13.8	114	−399	−400
Cash from operations	388	333	−66.0	−388	−2,020	−240
Investing activities
Capital expenditures	−9.9	−9.3	−19.7	−82.4	−337	−252
Other investing cash flows	−11.5	4.2	46.5	12.5	491	−333
Cash from investing	−21.4	−5.1	26.8	−69.9	153	−585
Financing activities
Financing cash flow items	−2.4	4.1	3.1	6.8	17.3	−117
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−205	−2.4	−97.5	70.0	1,998	1,034
Cash from financing	−208	1.7	−94.4	76.8	2,015	917
Foreign exchange effects	3.0	5.3	−1.0	8.6	−26.5	6.7
Net change in cash	162	335	−135	−372	122	98.7
Free cash flow	378	324	−85.7	−470	−2,357	−492

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.