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Peloton Interactive, Inc. (PTON) stock

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NASDAQ: PTON Nasdaq Leisure Products Next results ~November 5, 2026

C Fundamentals grade

Peloton Interactive, Inc. is a US-listed company in the leisure products industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$1.9

Cash-flow model

Base case. Range ~$1.3–$2.6 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 64% below it.

Price used: $5.30, November 2, 2026

Peloton Interactive, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Peloton Interactive files

Where Peloton Interactive stands after its latest 10-K

Revenue for the twelve months to June 2026 was $2.45bn, down 1.8% on a year earlier, a smaller fall than the 3.3% decline a quarter earlier. That puts it 8 of 8 for growth among the leisure products companies we cover. Free-cash-flow margin rose to 15.4% from 13.0% a year earlier. Operating margin widened to 6.6% from -1.5%. The diluted share count is up 11.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks. Our cash-flow model value is $2.02 a share, against a share price of $5.25.

Source: 10-K filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Peloton Interactive, Inc.'s trailing-twelve-month revenue fell 1.8% year on year, with a free-cash-flow margin of 15.4%. Where it stands out: days sales outstanding of 12 days ranks 3 of 27 leisure products companies we cover. Where it lags: long-term debt as % of assets of 64.7% ranks 20 of 20 leisure products companies we cover.

Our discounted-cash-flow model values the business at ~$1.9 per share in the base case (~$1.3–$2.6 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Operating margin expanding: TTM operating margin reached 6.6%, up 8.0pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 8.0 points on a year ago.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $5.30 is 64% above our value per share of $2.
  • Revenue shrinking. Revenue fell 1.8% over the last 12 months.
  • Share dilution. Diluted shares rose 11.8% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 59% and a beta of 1.4 against the S&P 500.
  • Insiders selling. 8 insiders sold $15M of stock over the past 365 days and none bought (58% under pre-set trading plans).

Latest results: FY2026 Q4

Filed August 6, 2026
Earnings per share
$0.13 against an average estimate of $0.12: beat by 7.1%
Revenue
$608m, up 0.1% on a year earlier
Share reaction
-12.9% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.13

Peloton Interactive's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.5%
  • 1 week+1.0%
  • 1 month+7.7%
  • This year-14.0%
  • 1 year-27.0%
  • 5 years-94.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.4B
Operating margin
6.6%
Net margin
2.6%
EPS (TTM, diluted)
$0.14

Growth

Revenue growth
−1.8%
Change in growth rate
+1.5 pts
Share count change
+11.8%

Cash

Free cash flow (TTM)
$378M
FCF margin
15.4%
Stock pay % of revenue
8.1%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Peloton Interactive, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 17.5% a year of cash-flow growth for five years.That is faster than the -9.5% a year revenue growth Peloton Interactive has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in17.5%
  • Last 12 months-1.8%
  • 3 years a year-4.4%
  • 5 years a year-9.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($5.28, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$1.9
Price used
$5.28close November 3, 2026
Implied change
▼ 64%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Peloton Interactive, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($53.8M, FY2026 Q4 TTM), growing -1.7% and 1% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$1.3–~$2.6 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Peloton Interactive, Inc.'s free cash flow after stock-based pay ( $53.8M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Peloton Interactive, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.37 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$1.9 ~$1.3–$2.6 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5.3 ~$4.5–$7.7 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.0 ~$1.9–$5.3 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Peloton Interactive, Inc. with Leisure Products in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +15%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $2$2$3$5$6$8
8.5% $1$2$2$3$5$6
10% $1$1$2$3$3$5

Valuation multiples over time Market data may be delayed

At fiscal year end 2020202120222023202420252026
Share price$57.77$124.02$9.18$7.69$3.38$6.94$5.91
Market value$12.8bn$36.4bn$3.0bn$2.7bn$1.2bn$2.7bn$2.6bn
+ Net debt (− = net cash)−$1.0bn−$305m−$382m$182m$851m$500m$123m
Enterprise value$11.7bn$36.1bn$2.6bn$2.8bn$2.1bn$3.2bn$2.7bn
Multiples
Price / sales 7.0x9.1x0.8x1.0x0.5x1.1x1.1x
Price / earnings ——————40.8x
Price / free cash flow 57.1x————8.4x6.8x
EV / EBITDA —————59.9x12.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

30 /100

Weak moat

How hard Peloton Interactive's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.7% of total assets over 6 years.

  • Pricing power 7 / 20

    Gross margin has been a median 43.3%, moving by 10.1 percentage points (standard deviation) across 8 years.

  • Durability 10 / 20

    Operating margin has been a median -12.1%; its worst year was -42.8%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 3 of 8 years, at a median -7.6% of revenue.

  • Discipline 1 / 20

    The diluted share count rose 97.4% over five years; stock-based pay has been a median 9.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (35 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $553m and EPS of $0.13 (range $0.12 to $0.13) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.32 +126% $2.4bn −3%
Next $0.35 +10% $2.3bn −1%

Next year's EPS estimate has moved −3.3% in 90 days, across 12 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.12 $0.13 +7.1%
Mar 2026 $0.08 $0.06 −20.4%
Dec 2025 −$0.06 −$0.09 −53.8%
Sept 2025 $0.00 $0.03 +927.4%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Peloton Interactive, Inc.'s revenue by -1.7% next year and +1.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-3.3%, weight 69%) and the company's own record (+2.0%, weight 31%) . How the weights are set.

Analyst recommendations

20 analysts, Oct 2026
Buy840%
Hold1050%
Sell210%

Monthly trend

  1. Oct 202681020
  2. Sep 202681020
  3. Aug 202681120
  4. Jul 202691121

Counts of recommendations published by analysts covering Peloton Interactive, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
16.1%
of tradable shares
Days to cover
7.09
at average volume
Short interest, 1 month
+11%
to September 30, 2026
Held by institutions
94%
of shares
Held by insiders
0.8%
of shares
Employees
2,199
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −27.0%

$7.26 on October 31, 2025 to $5.30

ThenNowEffect
Revenue (last 12 months) $2.5bn $2.4bn −1.8%
P/S multiple 1.1x 0.9x −16.9%
Share count 390m 436m −10.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +1.7%

$5.21 on November 3, 2023 to $5.30

ThenNowEffect
Revenue (last 12 months) $2.8bn $2.4bn −12.7%
P/S multiple 0.6x 0.9x +46.5%
Share count 347m 436m −20.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PTON−76%−78%−23%+43%−29%−14%
Industry peers (median)+17%−35%−4%−26%−4%+8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PTON25%42%42%50%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PTON−79%−82%−75%−57%−51%−47%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 26, 2019: 98% from January 13, 2021 to August 14, 2024. Getting back needed a 5713% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.71 – $7.66
From 52-week high
−30.8%
vs 50-day average
+3.5%
vs 200-day average
+1.6%
Volatility (1 year)
59%
Beta vs S&P 500
1.45

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±14.7%
After a week
6 up, 6 down
typical move ±19.3%
After a month
7 up, 5 down
typical move ±22.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −12.9% +0.5% −14.7% −17.2%
May 7, 2026 +9.4% +0.5% −0.4% +8.8%
February 5, 2026 −21.7% +0.6% −28.4% −34.7%
November 6, 2025 +7.4% −1.0% +2.5% −10.2%
August 7, 2025 +10.9% +0.7% +20.1% +14.6%
May 8, 2025 −11.7% +0.6% −9.3% +9.6%
February 6, 2025 +10.4% −0.6% +33.9% −25.9%
October 31, 2024 +9.0% −1.5% +20.6% +43.6%
August 22, 2024 +44.0% +0.3% +37.8% +41.1%
May 2, 2024 +6.4% +2.2% +38.5% +13.4%
February 1, 2024 −23.7% +2.4% −18.5% −21.8%
November 2, 2023 +8.3% +2.8% −7.3% +31.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Peloton Interactive, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.78× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

PTON Peloton Interactive, Inc. Grade C $5.31

Own 100 shares, sell the $6.00 call expiring November 27, 2026 (25 days) for $0.17 a share — $17.00 per contract.

Previous session · Bid $0.17, ask $0.23, quoted Mon 2 Nov, 17:34 New York time with PTON at $5.31. Option prices move with the shares: check the live chain at your broker before trading.

  • If PTON ends below $6.00: you keep your shares and the $17.00 — 3.2% extra on the position, 46.8% a year at that pace.
  • If it ends above $6.00: your shares are sold at $6.00, a total return of 16.3% including the premium — at or above our value of ~$1.9.
$87 $0 −$103 Break-even $5.14 Price $5.31 ← Our value ~$1.9
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$17.00
Annualised
46.8%
Break-even
$5.14
Max gain
$86.50
Chance of selling
~31%

Results are expected around November 5, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $5.00 put and sell the $6.00 call, both expiring December 18, 2026 (46 days).

  • Net cost of $0.17 a share ($17.00 per contract of 100 shares).
  • Worst case at expiry: -9.0%, if the shares fall below $5.00 (-5.7% from today).
  • Best case at expiry: +9.9%, if the shares rise above $6.00 (+13.1%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $1.90: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Peloton Interactive, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Peloton Interactive, Inc.
$2.4B $2.5B $2.6B $2.7B $2.8B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $2.8B Revenue (TTM), FY24 Q2: $2.7B Revenue (TTM), FY24 Q3: $2.7B Revenue (TTM), FY24 Q4: $2.7B Revenue (TTM), FY25 Q1: $2.7B Revenue (TTM), FY25 Q2: $2.6B Revenue (TTM), FY25 Q3: $2.5B Revenue (TTM), FY25 Q4: $2.5B Revenue (TTM), FY26 Q1: $2.5B Revenue (TTM), FY26 Q2: $2.4B Revenue (TTM), FY26 Q3: $2.4B Revenue (TTM), FY26 Q4: $2.4B $2.4B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $2.8B
FY24 Q2 $2.7B
FY24 Q3 $2.7B
FY24 Q4 $2.7B
FY25 Q1 $2.7B
FY25 Q2 $2.6B
FY25 Q3 $2.5B
FY25 Q4 $2.5B
FY26 Q1 $2.5B
FY26 Q2 $2.4B
FY26 Q3 $2.4B
FY26 Q4 $2.4B
Revenue growth, TTM YoY Peloton Interactive, Inc.
-20% -15% -10% -5% 0% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: -18.1% Revenue growth, TTM YoY, FY24 Q2: -10.6% Revenue growth, TTM YoY, FY24 Q3: -4.9% Revenue growth, TTM YoY, FY24 Q4: -3.6% Revenue growth, TTM YoY, FY25 Q1: -3.2% Revenue growth, TTM YoY, FY25 Q2: -4.0% Revenue growth, TTM YoY, FY25 Q3: -6.4% Revenue growth, TTM YoY, FY25 Q4: -7.8% Revenue growth, TTM YoY, FY26 Q1: -8.7% Revenue growth, TTM YoY, FY26 Q2: -7.0% Revenue growth, TTM YoY, FY26 Q3: -3.3% Revenue growth, TTM YoY, FY26 Q4: -1.8% -1.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 -18.1%
FY24 Q2 -10.6%
FY24 Q3 -4.9%
FY24 Q4 -3.6%
FY25 Q1 -3.2%
FY25 Q2 -4.0%
FY25 Q3 -6.4%
FY25 Q4 -7.8%
FY26 Q1 -8.7%
FY26 Q2 -7.0%
FY26 Q3 -3.3%
FY26 Q4 -1.8%
Operating margin (TTM) Peloton Interactive, Inc.
-40% -20% 0% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: -34.4% Operating margin (TTM), FY24 Q2: -29.7% Operating margin (TTM), FY24 Q3: -25.6% Operating margin (TTM), FY24 Q4: -19.6% Operating margin (TTM), FY25 Q1: -14.3% Operating margin (TTM), FY25 Q2: -9.3% Operating margin (TTM), FY25 Q3: -5.1% Operating margin (TTM), FY25 Q4: -1.5% Operating margin (TTM), FY26 Q1: -0.3% Operating margin (TTM), FY26 Q2: 1.0% Operating margin (TTM), FY26 Q3: 4.5% Operating margin (TTM), FY26 Q4: 6.6% 6.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 -34.4%
FY24 Q2 -29.7%
FY24 Q3 -25.6%
FY24 Q4 -19.6%
FY25 Q1 -14.3%
FY25 Q2 -9.3%
FY25 Q3 -5.1%
FY25 Q4 -1.5%
FY26 Q1 -0.3%
FY26 Q2 1.0%
FY26 Q3 4.5%
FY26 Q4 6.6%
FCF margin (TTM) Peloton Interactive, Inc.
-20% -10% 0% 10% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: -11.0% FCF margin (TTM), FY24 Q2: -9.1% FCF margin (TTM), FY24 Q3: -6.9% FCF margin (TTM), FY24 Q4: -3.2% FCF margin (TTM), FY25 Q1: 0.3% FCF margin (TTM), FY25 Q2: 5.8% FCF margin (TTM), FY25 Q3: 9.4% FCF margin (TTM), FY25 Q4: 13.0% FCF margin (TTM), FY26 Q1: 15.5% FCF margin (TTM), FY26 Q2: 14.2% FCF margin (TTM), FY26 Q3: 16.4% FCF margin (TTM), FY26 Q4: 15.4% 15.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 -11.0%
FY24 Q2 -9.1%
FY24 Q3 -6.9%
FY24 Q4 -3.2%
FY25 Q1 0.3%
FY25 Q2 5.8%
FY25 Q3 9.4%
FY25 Q4 13.0%
FY26 Q1 15.5%
FY26 Q2 14.2%
FY26 Q3 16.4%
FY26 Q4 15.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Peloton Interactive took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $2.4B
  2. Cost of revenue $1.2B · 47.4%
  3. Gross profit $1.3B · 52.6%
  4. Research and development $243M · 9.9%
  5. Selling, general and admin $831M · 34.0%
  6. Other operating costs $52.5M · 2.1%
  7. Operating income $161M · 6.6%
  8. Interest and other $97.5M · 4.0%
  9. Net income $63.2M · 2.6%

Shares of revenue. Source: Peloton Interactive's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 435 915 1,826 4,022 3,582 2,800 2,701 2,491 2,446
Gross profit 190 384 838 1,454 698 924 1,207 1,268 1,287
EBITDA −41 −181 −41 −124 −2,591 −1,073 −420 54 218
Operating income −48 −202 −81 −188 −2,734 −1,197 −529 −36 161
Net income −48 −196 −72 −189 −2,828 −1,262 −552 −119 63
Diluted EPS −$0.22 −$1.07 −$0.32 −$0.64 −$8.77 −$3.64 −$1.51 −$0.30 $0.14
Growth (year on year)
Revenue — +110.3% +99.6% +120.3% −10.9% −21.8% −3.6% −7.8% −1.8%
EBITDA — — — — — — — — +307.3%
Margins
Gross margin 43.6% 41.9% 45.9% 36.2% 19.5% 33.0% 44.7% 50.9% 52.6%
EBITDA margin −9.4% −19.7% −2.2% −3.1% −72.3% −38.3% −15.6% 2.1% 8.9%
Operating margin −10.9% −22.1% −4.4% −4.7% −76.3% −42.8% −19.6% −1.5% 6.6%
Net margin −11.0% −21.4% −3.9% −4.7% −78.9% −45.1% −20.4% −4.8% 2.6%
Free-cash-flow margin 5.0% −20.9% 12.2% −12.0% −65.8% −16.8% −3.2% 13.0% 15.4%
Cash flow
Cash from operations 50 −109 376 −240 −2,020 −388 −66 333 388
Capital spending 28 83 153 241 337 82 20 9 10
Free cash flow 22 −192 223 −481 −2,357 −470 −86 324 378
Stock-based pay 9 90 89 194 328 405 312 230 199
Free cash flow after stock pay 13 −281 135 −675 −2,686 −875 −398 94 179
Balance sheet
Cash 152 162 1,036 1,135 1,254 814 698 1,040 1,207
Total debt 0 0 0 830 872 996 1,549 1,539 1,330
Net debt (negative = net cash) −152 −162 −1,036 −305 −382 182 851 500 123
Diluted shares 219m 229m 221m 294m 322m 347m 366m 390m 436m
Returned to shareholders
Buybacks 0 130 0 0 — — — — —
Total returned 0 130 0 0 — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $2.1bn
Short-term assets $1.5bnLonger-term assets $567m
What it owes, and who funded it · $2.2bn
Short-term liabilities $525mLonger-term liabilities $1.7bnShareholders' equity $-140m
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $525m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $1.7bn of longer-dated liabilities.
  • More cash than debt $1.2bn of cash against $1.3bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $388m of operating cash flow against $1.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $161m against $124m of interest.

From Peloton Interactive, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+11.8%
year over year
R&D spending
9.9%
of revenue
Days sales outstanding
12 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in leisure products
Last 12 months unless stated PTON GOLF CALY YETI HAS MAT Median
Revenue, last 12 months $2.4bn $2.7bn $2.1bn $1.9bn $5.2bn $5.5bn $349m
Revenue growth, last 12 months −1.8% 8.8% 3.7% 6.2% 18.9% 2.9% 7.6%
Revenue growth, 3-year average −4.4% 4.4% −20.2% 6.8% −1.3% 2.8% −2.5%
Revenue growth, latest quarter 0.1% 13.8% 2.0% 8.5% 15.0% 10.5% 10.9%
Gross margin 52.6% 49.1% 41.4% 59.2% 74.0% 47.5% 40.1%
Operating margin 6.6% 13.7% 9.6% 12.2% 25.8% 7.8% 1.0%
Operating margin, 3-year average −4.8% 12.5% 11.1% 13.2% 2.5% 10.9% 0.9%
Net margin 2.6% 8.1% −12.4% 9.2% 18.4% 7.8% −0.5%
Cash from operations / revenue 15.8% 10.0% 17.5% 15.9% 25.3% 12.1% 8.7%
Free-cash-flow margin 15.4% 6.8% 15.9% 13.2% 23.7% 9.3% 6.1%
Free-cash-flow margin, 3-year average 8.4% 7.5% 30.4% 12.3% 20.3% 12.3% 5.3%
Stock pay / revenue 8.1% 1.2% 1.0% 2.3% 1.8% 1.3% 1.3%
Change in share count 11.8% −2.8% −9.1% −7.6% 0.2% −8.3% 0.5%

Median of all 29 companies we cover in leisure products. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

29 leisure products companies
Measure Company Peer median Rank
Revenue growth Growth -1.8% 7.6% 21 of 29
Change in growth rate Growth +1.5pp +3.1pp 19 of 29
Gross margin Profitability 52.6% 39.7% 8 of 27
Operating margin Profitability 6.6% 1.0% 10 of 29
Net margin Profitability 2.6% -0.5% 10 of 29
Free-cash-flow margin Cash generation 15.4% 6.1% 7 of 29
Stock pay as % of revenue Cash generation 8.1% 1.3% 26 of 27
Long-term debt as % of assets Balance sheet 64.7% 16.0% 20 of 20
Change in share count Balance sheet 11.8% 0.8% 21 of 24
Days sales outstanding Balance sheet 12 days 42 days 3 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Segments
Line of business Revenue Share YoY
Subscription $1.7B 68.5% ▲ 0.1%
Connected Fitness Products $770M 31.5% ▼ 5.7%
Products and services
Line of business Revenue Share YoY
Subscriptions $1.7B 68.5% ▲ 0.1%
Products $770M 31.5% ▼ 5.7%
Geography
Region Revenue YoY
North America $2.2B ▼ 3.0%
United States $2.1B ▼ 3.1%
Outside the US $240M ▲ 10.6%

These categories overlap or exclude eliminations, so shares aren't shown.

From Peloton Interactive, Inc.'s 10-K filed August 6, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.4B
Institutions reporting
456
Shares held vs prior quarter
▲ 11.8%
Positions opened / closed
88 / 68

Top buyers and sellers, Q2 2026: 244 institutions bought and 177 sold ; the biggest buyer was Blackrock, Inc (+32.7M shares) and the biggest seller Dme Capital Management, LP (−10.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $384M 65.0M 16.1% ▲ 101.2%
DNB Asset Management As $225M 38.1M 9.4% ▲ 68.0%
Vanguard Portfolio Management LLC $143M 24.2M 6.0% ▲ 25.4%
Vanguard Capital Management LLC $111M 18.8M 4.6% ▲ 4.5%
D. E. Shaw & Co., Inc. $101M 17.0M 4.2% ▼ 4.5%
State Street Corp $95.4M 16.1M 4.0% ▲ 77.1%
Quinn Opportunity Partners LLC $79M 13.4M 3.3% ▼ 4.9%
T. Rowe Price Investment Management, Inc. $75.8M 12.8M 3.2% ▲ 10.4%
Geode Capital Management, LLC $63.9M 10.8M 2.7% ▲ 8.2%
Nantahala Capital Management, LLC $60.4M 10.2M 2.5% ▼ 14.9%
Pale Fire Capital Se $45.7M 7.7M 1.9% ▲ 24.0%
Goldman Sachs Group Inc $34.3M 5.8M 1.4% ▼ 15.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Peloton Interactive, Inc.'s complete shareholder register. Values are as reported by the filers ; 4 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $15.1M 49 trades by 8 insiders · 58% under pre-set plans
Net ▼ $15.1M net selling
Insider Date Trade Shares Price Value
Baig Saqib Chief Accounting Officer October 20, 2026 Sell pre-set plan 10,000 $5.45 $54,500
Kirol Charles Peter Chief Operating Officer October 15, 2026 Sell 28,849 $5.33 $153,765
Sanders Dion C. Chief Commercial Officer August 19, 2026 Sell pre-set plan 112,512 $5.45 $613,190
Baig Saqib Chief Accounting Officer August 19, 2026 Sell pre-set plan 4,912 $5.45 $26,770
Boone Karen Director August 17, 2026 Sell pre-set plan 25,000 $5.35 $133,750
Baig Saqib Chief Accounting Officer August 17, 2026 Sell 36,439 $5.36 $195,313
Kirol Charles Peter Chief Operating Officer July 20, 2026 Sell pre-set plan 3,198 $6.49 $20,755
Baig Saqib Chief Accounting Officer July 14, 2026 Sell pre-set plan 5,000 $6.12 $30,600
Baig Saqib Interim CFO, CAO June 9, 2026 Sell pre-set plan 5,000 $5.66 $28,300
Baig Saqib Interim CFO, CAO May 22, 2026 Sell pre-set plan 5,000 $5.45 $27,250
Baig Saqib Interim CFO, CAO May 20, 2026 Sell pre-set plan 5,973 $5.19 $31,000
Sanders Dion C. Chief Commercial Officer May 20, 2026 Sell pre-set plan 112,523 $5.19 $583,994

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 27 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 1 sale of Peloton Interactive, Inc. shares.

  • Maria Elvira Salazar(R-FL 27):Sale (partial), $1,001 - $15,000, traded September 24, 2026, filed October 7, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $1,001 - $15,000, traded March 19, 2026, filed April 21, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $1,001 - $15,000, traded March 19, 2026, filed April 21, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 5, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Peloton Interactive, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Peloton Interactive, Inc. in brief

What does Peloton Interactive, Inc. do?
Peloton Interactive, Inc. is a US-listed company in the leisure products industry. Its financial year ends in June.
What is Peloton Interactive, Inc.'s stock ticker?
Peloton Interactive, Inc. trades under the ticker PTON on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Peloton Interactive, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Peloton Interactive, Inc. reported revenue of $2.4B, 1.8% lower than a year earlier, according to its SEC filings.
What is Peloton Interactive, Inc.'s free cash flow?
Peloton Interactive, Inc.'s free-cash-flow margin is 15.4% of revenue over the trailing twelve months, ranking 7 of the 29 leisure products companies we cover.
What is Peloton Interactive, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Peloton Interactive, Inc.'s free cash flow after stock-based pay gives ~$1.9 per share in the base case, and ~$1.3–$2.6 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Peloton Interactive, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., DNB Asset Management As and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Peloton Interactive, Inc.'s market cap?
On June 30, 2026, Peloton Interactive, Inc.'s market capitalisation was about $2.6B, with a price-to-earnings ratio of 40.8 and net debt of $123M. Market figures come from third-party market data and may be delayed.
Who are Peloton Interactive, Inc.'s competitors?
In our Leisure Products peer group, the companies closest to Peloton Interactive, Inc. are Acushnet Holdings Corp., Callaway Golf Co, Yeti Holdings, Inc., Hasbro and Mattel Inc. The side-by-side comparison below sets their revenue, margins and growth against Peloton Interactive, Inc.'s.
Are insiders buying or selling Peloton Interactive, Inc. stock?
Over the last 12 months, Peloton Interactive, Inc.'s directors and officers reported 0 open-market purchases and 49 sales on Form 4. The insider trading page charts every trade.
When is Peloton Interactive, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Peloton Interactive, Inc. announces its own schedule.