Peloton Interactive, Inc. key statistics and ratios

In fiscal 2026, Peloton Interactive, Inc. had an operating margin of 6.6% and a current ratio of 2.84. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Peloton Interactive, Inc.: financial ratios, annual
Fiscal year	2018Jun 2018	2019Jun 2019	2020Jun 2020	2021Jun 2021	2022Jun 2022	2023Jun 2023	2024Jun 2024	2025Jun 2025	2026Jun 2026
Gross margin	43.6%	41.9%	45.9%	36.2%	19.5%	33.0%	44.7%	50.9%	52.6%
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%
Return on equity	—	—	−12.6%	−11.0%	—	—	—	—	—
Return on assets	—	−22.6%	−3.7%	−5.1%	−66.4%	−37.1%	−22.3%	−5.5%	3.0%
Asset turnover	—	1.06	0.95	1.08	0.84	0.82	1.09	1.16	1.17
Current ratio	—	2.00	2.80	2.27	2.38	2.15	1.85	1.79	2.84
Debt to equity	—	—	0.0%	47.3%	147.0%	—	—	—	—
Interest cover (operating income ÷ interest)	—	n/m	n/m	n/m	n/m	n/m	n/m	n/m	1.3x
Effective tax rate	—	—	—	—	—	—	—	—	−0.2%
R&D as % of revenue	5.4%	6.0%	4.9%	6.2%	10.0%	11.4%	11.3%	9.4%	9.9%
Capital spending as % of revenue	6.4%	9.1%	8.4%	6.0%	9.4%	2.9%	0.7%	0.4%	0.4%
Free cash flow ÷ net income	—	—	—	—	—	—	—	—	597.6%
Dividends and buybacks ÷ free cash flow	0.0%	—	0.0%	—	—	—	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Peloton Interactive, Inc.: financial ratios, quarterly
Quarter	2025 Q1Sept 2024	2025 Q2Dec 2024	2025 Q3Mar 2025	2025 Q4Jun 2025	2026 Q1Sept 2025	2026 Q2Dec 2025	2026 Q3Mar 2026	2026 Q4Jun 2026
Gross margin	51.8%	47.2%	51.0%	54.1%	51.5%	50.5%	51.9%	56.7%
Operating margin	2.1%	−6.8%	−5.2%	4.9%	7.5%	−2.2%	8.3%	13.4%
Net margin	−0.2%	−13.7%	−7.6%	3.6%	2.5%	−5.9%	4.2%	10.1%
Free-cash-flow margin	1.8%	15.7%	15.2%	18.5%	12.2%	10.8%	23.9%	14.6%
Current ratio	2.01	2.06	1.65	1.79	1.90	1.98	2.49	2.84
R&D as % of revenue	10.0%	8.9%	9.6%	9.2%	11.3%	9.9%	9.3%	9.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: GOLF vs PTON CALY vs PTON PTON vs YETI

More: Leisure Products stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Peloton Interactive, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Peloton Interactive, Inc.