Tearsheet

Peloton Interactive (PTON)

Market Price (12/4/2025): $6.575 | Market Cap: $2.7 Bil
Sector: Consumer Discretionary | Industry: Leisure Facilities

Peloton Interactive (PTON)

Market Price (12/4/2025): $6.575
Market Cap: $2.7 Bil
Sector: Consumer Discretionary
Industry: Leisure Facilities

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%	Weak multi-year price returns 2Y Excs Rtn is -36%, 3Y Excs Rtn is -107%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 122x
1	Attractive yield FCF Yield is 10%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10%, Rev Chg QQuarterly Revenue Change % is -6.0%
2	Megatrend and thematic drivers Megatrends include Digital Content & Streaming, Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Streaming Fitness Content, Show more.		Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 54%
3			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.0%
4			Short seller report

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
1	Attractive yield FCF Yield is 10%
2	Megatrend and thematic drivers Megatrends include Digital Content & Streaming, Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Streaming Fitness Content, Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -36%, 3Y Excs Rtn is -107%
4	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18%
5	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 122x
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10%, Rev Chg QQuarterly Revenue Change % is -6.0%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 54%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.0%
9	Short seller report

Valuation, Metrics & Events

	12/4/25	2024	2023	2022
Share Price CYE	$6.58	$8.70	$6.09	$7.94
Market Cap CYE ($ Bil)	2.7	3.4	2.2	2.7
Total Debt ($ Bil)	2.0	2.0	2.1	2.4
Total Cash ($ Bil)	1.1	1.0	0.7	0.8
Enterprise Value ($ Bil)	3.6	5.4	4.3	5.1
Valuation Ratios
P/S TTM	1.5	1.4	0.8	1.0
P/EBIT TTM	120.2	179.5	-5.1	-2.4
P/E TTM	-35.2	-28.5	-4.0	-2.2
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.8
P/EBIT TTM (Sector)	7.6	8.0	7.8	6.3
P/E TTM (Sector)	10.4	11.1	10.7	8.4

	12/4/25	2024
Share Price CYE	$6.58	$8.70
Market Cap CYE ($ Bil)	2.7	3.4
Total Debt ($ Bil)	2.0	2.0
Total Cash ($ Bil)	1.1	1.0
Enterprise Value ($ Bil)	3.6	5.4
Valuation Ratios
P/S TTM	1.5	1.4
P/EBIT TTM	120.2	179.5
P/E TTM	-35.2	-28.5
Sector Ratios
P/S TTM (Sector)	0.8	0.8
P/EBIT TTM (Sector)	7.6	8.0
P/E TTM (Sector)	10.4	11.1

	PTON	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	2.5
Rev Chg Q	-6.0%	7.1%
Rev Chg LTM	-8.7%	6.1%
Rev Chg 3Y Avg	-10.0%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.4
Net Inc LTM ($ Bil)	-0.1
Op Mgn LTM	3.9%	18.8%
CFO/Rev LTM	16.0%	20.5%
Net Inc Mgn	-4.2%	13.1%
VALUATION	LOW
P/S	1.5	3.2
P/CFO	9.3	15.8
P/FCF	9.6	20.5
P/E	-35.2	23.5
STABILITY	GOOD
Debt/Equity	0.54	0.20
Cash/Assets	0.51	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Ending Paid Connected Fitness Subscriptions	2.732 million	9302025	Link
Average Net Monthly Paid Connected Fitness Subscription Churn	1.6%	9302025	Link
Ending Paid App Subscriptions	542,000	9302025	Link
Increased Average Workout Time per Connected Fitness Subscription	5% year-over-year	9302025	Link

Recent
11/06/2025	Earnings Release	Rev: $550 Mil (A) vs. $541 Mil (E) EPS: 0.03 (A) vs. $0.01 (E)
Upcoming
2/05/2026	Earnings Release	Rev: $674 Mil (E) EPS: $-0.07 (E)

PTON Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

1. Decline in Connected Fitness Subscriptions

Peloton's Q1 FY2026 financial results, announced in early November 2025, revealed a year-over-year decrease of 164,000 in paid Connected Fitness Subscriptions, bringing the total to 2.732 million.

2. Year-over-Year Revenue Decline

During Q1 FY2026, Peloton reported total revenue of $551 million, representing a 6% decrease compared to the previous year.

Stock Movement Drivers

Fundamental Drivers

The -12.2% change in PTON stock from 9/3/2025 to 12/3/2025 was primarily driven by a -8.6% change in the company's P/S Multiple.

	9032025	12032025	Change
Stock Price ($)	7.60	6.67	-12.24%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2490.80	2455.70	-1.41%
P/S Multiple	1.23	1.12	-8.59%
Shares Outstanding (Mil)	402.29	413.11	-2.69%
Cumulative Contribution			-12.30%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
PTON	-12.2%
Market (SPY)	6.2%	39.2%
Sector (XLY)	3.5%	44.2%

Fundamental Drivers

The -10.7% change in PTON stock from 6/4/2025 to 12/3/2025 was primarily driven by a -4.8% change in the company's Shares Outstanding (Mil).

	6042025	12032025	Change
Stock Price ($)	7.47	6.67	-10.71%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2527.40	2455.70	-2.84%
P/S Multiple	1.16	1.12	-3.65%
Shares Outstanding (Mil)	394.01	413.11	-4.85%
Cumulative Contribution			-10.92%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
PTON	-10.7%
Market (SPY)	15.1%	42.0%
Sector (XLY)	11.5%	43.6%

Fundamental Drivers

The -32.4% change in PTON stock from 12/3/2024 to 12/3/2025 was primarily driven by a -19.2% change in the company's P/S Multiple.

	12032024	12032025	Change
Stock Price ($)	9.86	6.67	-32.35%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2690.70	2455.70	-8.73%
P/S Multiple	1.39	1.12	-19.16%
Shares Outstanding (Mil)	378.78	413.11	-9.06%
Cumulative Contribution			-32.91%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
PTON	-32.4%
Market (SPY)	14.3%	53.7%
Sector (XLY)	7.4%	55.4%

Fundamental Drivers

The -49.8% change in PTON stock from 12/4/2022 to 12/3/2025 was primarily driven by a -27.6% change in the company's Total Revenues ($ Mil).

	12042022	12032025	Change
Stock Price ($)	13.30	6.67	-49.85%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3393.40	2455.70	-27.63%
P/S Multiple	1.33	1.12	-15.55%
Shares Outstanding (Mil)	339.01	413.11	-21.86%
Cumulative Contribution			-52.25%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
PTON	5.2%
Market (SPY)	53.2%	36.8%
Sector (XLY)	42.3%	38.0%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
PTON Return	434%	-76%	-78%	-23%	43%	-26%	-77%
Peers Return	39%	17%	-27%	29%	-10%	-14%	19%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
PTON Win Rate	83%	25%	42%	42%	50%	50%
Peers Win Rate	50%	38%	25%	55%	37%	45%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
PTON Max Drawdown	-31%	-77%	-81%	-46%	-53%	-43%
Peers Max Drawdown	-38%	-11%	-37%	-18%	-31%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: LULU, PLNT, ESCA, CLAR, NOMA. See PTON Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	PTON	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-97.4%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	3793.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-41.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	71.6%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	34 days	148 days

Compare to LULU, PLNT, ESCA, CLAR, NOMA

In The Past

Peloton Interactive's stock fell -97.4% during the 2022 Inflation Shock from a high on 1/13/2021. A -97.4% loss requires a 3793.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Peloton Interactive (PTON)

Peloton Interactive, Inc. provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, and Peloton Tread+ names. The company also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes. As of June 30, 2021, it had approximately 5.9 million members. The company markets and sells its interactive fitness products directly through its retail showrooms and at onepeloton.com. Peloton Interactive, Inc. was founded in 2012 and is headquartered in New York, New York.

AI Generated Analysis | Feedback

Here are 1-3 brief analogies for Peloton:

The Tesla of home fitness
SoulCycle for your living room
Netflix for fitness

AI Generated Analysis | Feedback

```html Peloton Major Products

Major Products of Peloton Interactive (PTON)

Peloton Bike & Bike+: Stationary bikes integrated with a touchscreen for streaming live and on-demand fitness classes.
Peloton Tread: A treadmill featuring a large touchscreen, designed for streaming running, walking, and bootcamp classes.
Peloton Row: A connected rowing machine providing full-body workouts through a diverse library of classes.
Peloton Guide: A connected camera device that uses AI to provide personalized strength training programs and form feedback.
Peloton All-Access Membership (Service): A recurring subscription service offering unlimited access to Peloton's extensive library of live and on-demand fitness content directly on Peloton hardware.
Peloton App Membership (Service): A digital subscription providing access to Peloton's fitness classes via mobile devices, tablets, and smart TVs, independent of Peloton hardware.
Accessories & Apparel: A range of supplemental items including weights, resistance bands, cycling shoes, heart rate monitors, and branded athletic clothing.

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AI Generated Analysis | Feedback

Peloton Interactive (PTON) - Major Customers

Peloton Interactive primarily sells its connected fitness products (such as exercise bikes, treadmills, and accessories) and digital subscriptions directly to **individual consumers**. While Peloton does have some B2B sales (e.g., to hotels, corporate wellness programs, and residential buildings), the vast majority of its revenue and customer base comes from individuals purchasing for home use. Therefore, its major customers can be categorized as follows:

Affluent Home Fitness Enthusiasts: Individuals with disposable income who prioritize health and fitness, seeking a premium, convenient, and engaging workout experience in their own homes. They often appreciate high-quality equipment, diverse class offerings, and the ability to track their performance.
Time-Constrained Professionals and Parents: Busy individuals whose schedules make it difficult to attend traditional gyms. They value the flexibility and efficiency of at-home workouts that can be seamlessly integrated into their daily routines without the need for travel.
Health & Wellness Seekers: Individuals focused on improving their overall health, managing weight, or achieving specific fitness goals. They benefit from Peloton's structured programs, motivating instructors, and the sense of community, which helps them stay consistent and engaged with their fitness journey.

AI Generated Analysis | Feedback

Rexon Industrial Corp. (1526.TW)
Apex Fitness Group

AI Generated Analysis | Feedback

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Peter Stern, Chief Executive Officer and President

Peter Stern was appointed CEO and President of Peloton in January 2025. For the 25 years prior to joining Peloton, he worked at companies involved with hardware, software, content, and services.

Liz Coddington, Chief Financial Officer

Liz Coddington became Peloton's Chief Financial Officer in June 2022. She has over 20 years of experience in financial planning and analysis and operational finance. Prior to Peloton, Coddington served as Vice President of Finance for Amazon Web Services. She also held senior leadership finance roles at Adara, Walmart.com (as CFO), and as Vice President, Financial Planning and Analysis at Netflix, where she worked with Barry McCarthy, former Peloton CEO.

Charles Kirol, Chief Operating Officer

Charles Kirol was appointed Chief Operating Officer in April 2025. He brings over 25 years of experience in high-impact business transformations, with a focus on supply chain, cost management, and information technology. Prior to Peloton, he held roles including EVP and Chief Global Operations and Technology Officer at iRobot Corporation.

Dion Camp Sanders, Chief Commercial Officer

Dion Camp Sanders joined Peloton in 2019 and was named Chief Commercial Officer in April 2025. In this role, he oversees first-party retail, inside sales, third-party retail, bike rental, sales of pre-owned refurbished equipment, international strategy and operations, B2B channels, Precor, M&A, and business development. He was previously Chief Emerging Business Officer.

Nick Caldwell, Chief Product Officer

Nick Caldwell has served as Chief Product Officer of Peloton since November 2023. He is responsible for global product development, leading hardware and software product teams to create new products and features. Caldwell has a track record of building and scaling products and services that drive business growth.

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AI Generated Analysis | Feedback

The proliferation and increasing sophistication of digital fitness platforms that deliver compelling, interactive workout experiences without requiring expensive, proprietary hardware. These platforms leverage existing consumer electronics (smart TVs, tablets, smartphones, and popular wearables) and third-party fitness equipment, offering a lower barrier to entry for high-quality, guided workouts and community features. This trend directly challenges Peloton's integrated hardware-and-subscription business model by demonstrating that a premium connected fitness experience can be achieved without substantial upfront investment in a single-brand ecosystem.

AI Generated Analysis | Feedback

The addressable markets for Peloton Interactive's main products and services are as follows:

Connected Fitness Equipment

U.S. Market: The U.S. connected fitness equipment market size was estimated at USD 1.17 billion in 2024 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.3% from 2025 to 2033.
Global Market: The global fitness equipment market size is calculated at USD 18.91 billion in 2025 and is predicted to reach approximately USD 30.61 billion by 2034, growing at a CAGR of 5.5%.
Global Fitness Bikes Market: This specific segment is projected to expand from USD 1.8 billion in 2025 to USD 5.5 billion by 2032, at a CAGR of 12%.

Fitness Content and Subscription Services

U.S. Market (Connected Fitness Services): The U.S. connected fitness services market size was estimated at USD 1.25 billion in 2024 and is projected to reach USD 7.61 billion by 2033, growing at a CAGR of 23.2% from 2025 to 2033.
Global Market (Online Fitness): The online fitness market is valued at USD 28.89 billion in 2025 and is projected to reach USD 98.73 billion by 2030, reflecting a 27.7% CAGR.
Global Market (Connected Fitness): The global connected fitness market size was valued at USD 5.2 billion in 2023 and is projected to reach USD 16.8 billion by 2032, growing at a CAGR of 14.1%.

AI Generated Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Peloton Interactive (PTON) over the next 2-3 years:

Product Innovation and New Product Launches: Peloton is focused on launching new products and enhancing its existing lineup. This includes a "new equipment lineup and Peloton IQ", and the company has highlighted its "newly updated, AI-enhanced product lineup" as a driver of recent positive results. These innovations aim to capture consumer interest and drive sales of connected fitness products.
Expansion into Broader Wellness Offerings: The company plans to expand its "wellness offerings, targeting a broader demographic with holistic fitness solutions". This strategic shift aims to evolve Peloton from primarily a cardio fitness company to a full-spectrum wellness platform, potentially encompassing mental health, sleep, and nutrition, thereby opening new revenue streams.
Improved Customer Retention and Subscription Growth: While facing a decline in connected fitness subscribers, Peloton has shown an improvement in its average net monthly Paid Connected Fitness Subscription churn rate, indicating better customer retention. Enhancing the value and "stickiness" of its subscription service through exclusive content and personalized programs is key to retaining and attracting new subscribers, which directly impacts recurring subscription revenue.
Strategic Partnerships and Corporate Wellness Programs: Collaborations with other companies in the health, wellness, and technology sectors are expected to broaden Peloton's ecosystem and attract new customers. Additionally, expanding into corporate wellness programs is identified as a strategic initiative that can drive future growth.
Pricing Adjustments: Recent earnings reports have indicated that "price increases—both on equipment and subscriptions—" have been a driver behind stronger-than-expected results. Peloton management has also addressed inquiries about potential future pricing adjustments, suggesting that this remains a lever for revenue growth.

AI Generated Analysis | Feedback

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

For the trailing twelve months ended September 2025, Peloton Interactive reported $0 million in share repurchases.

Share Issuance

In November 2021, Peloton completed a public offering of 23,913,043 shares of its Class A common stock at $46 per share, generating approximately $1.1 billion in gross proceeds.
In May 2024, Peloton priced a private offering of $300 million in convertible senior notes due 2029, which are convertible into Class A common stock.

Outbound Investments

In April 2021, Peloton acquired Precor, a commercial fitness equipment provider, for $420 million in cash to establish U.S. manufacturing capacity and expand into the commercial market.
In late 2020/early 2021, Peloton acquired three startups (Aquino, Atlas Wearables, and Otari) for a total consideration of $78.1 million to enhance capabilities in artificial intelligence, digital voice assistants, and wearable devices.

Capital Expenditures

Peloton's capital expenditures averaged $159 million annually for fiscal years ending June 2021 to 2025.
Capital expenditures peaked in June 2022 at $353.3 million, primarily related to the construction of Peloton Output Park and the build-out of showrooms and offices.
Capital expenditures significantly decreased in recent years, reaching a 5-year low of $9.3 million for the latest twelve months ended June 2025.

Better Bets than Peloton Interactive (PTON)

	PTON	Better Performance than PTON
Metric	Value	INDUSTRY: Leisure Facilities
Rev Chg LTM	-8.7%	AS (21.9%), LTH (15.8%), PLNT (14.4%), OSW (7.3%), MSGE (0.7%)
Rev Chg 3Y Avg	-10.0%	OSW (28.9%), FUN (21.3%), LTH (19.5%), PLNT (15.7%), PRKS (-0.7%)
Op Mgn LTM	3.9%	PLNT (29.4%), LTH (15.1%), MSGE (14.4%), AS (11.1%), OSW (8.9%)
CFO/Rev LTM	16.0%	PLNT (27.8%), LTH (27.2%), PRKS (24.7%), MSGE (16.9%)
FCF/Rev LTM	15.5%	PLNT (15.7%)
Total Yield	-2.8%	LTH (4.7%), OSW (4.2%), PLNT (2.4%), MSGE (1.6%), AS (1.0%)
P/S	1.5	JAKK (0.4), JOUT (0.6), FUN (0.7), XPOF (0.8), LUCK (1.2)
P/Op Inc	39.0	LTH (13.8), MSGE (15.6), PLNT (22.9), OSW (26.3), AS (34.2)

	PTON	Better Performance than PTON
Metric	Value	SECTOR: Consumer Discretionary
Rev Chg LTM	-8.7%	AMZN (10.9%), HD (8.5%), TJX (4.1%), MCD (1.2%), TSLA (-1.6%)
Rev Chg 3Y Avg	-10.0%	AMZN (11.3%), TSLA (9.3%), TJX (5.3%), MCD (4.2%), HD (2.2%)
Op Mgn LTM	3.9%	MCD (46.1%), HD (13.1%), AMZN (11.4%), TJX (11.2%), TSLA (5.1%)
CFO/Rev LTM	16.0%	MCD (39.9%), MELI (37.5%), BKNG (33.2%), AMZN (18.1%), TSLA (16.5%)
FCF/Rev LTM	15.5%	ABNB (38.4%), MELI (32.9%), BKNG (31.9%), MCD (28.1%), DASH (15.8%)
Total Yield	-2.8%	HD (6.5%), MCD (6.2%), TJX (4.9%), AMZN (3.0%), TSLA (0.4%)
P/S	1.5	F (0.3), GM (0.3), DHI (1.1), CCL (1.4), LOW (1.5)
P/Op Inc	39.0	HD (16.8), MCD (17.9), BKNG (19.5), TJX (21.3), AMZN (30.7)

	PTON	Better Performance than PTON
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-8.7%	NVDA (71.6%), AVGO (28.0%), MSFT (15.6%), GOOGL (13.4%), AAPL (6.0%)
Rev Chg 3Y Avg	-10.0%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	3.9%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	16.0%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), GOOGL (39.3%), AAPL (26.6%)
FCF/Rev LTM	15.5%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	-2.8%	GOOGL (4.6%), MSFT (3.4%), AAPL (3.0%), NVDA (2.3%), AVGO (1.5%)
P/S	1.5	UNH (0.7), WMT (1.1), VZ (1.4), XOM (1.4), COST (1.5)
P/Op Inc	39.0	META (22.6), GOOGL (23.7), MSFT (28.3), AAPL (29.1), LLY (29.9)

		Best Bets In Consumer Discretionary Sector
	PTON
What You Pay
P/E	-35.7
P/EBIT	121.9
What You Get
Rev Chg Q	-6.0%
Rev Chg LTM	-8.7%
Rev Chg 3Y Avg	-10.0%
FCF/Rev 3Y Avg	1.6%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	With Peloton Interactive Stock Sliding, Have You Assessed The Risk?	Return
2	How Does Peloton Interactive Stock Stack Up Against Its Peers?	Peer Comparison
3	PTON Dip Buy Analysis
4	Peloton Interactive vs. Planet Fitness: With Return Forecast Of 37%, Planet Fitness Is A Better Bet	Peer Comparison
5	Peloton Interactive vs. Lululemon Athletica: With Return Forecast Of 64%, Lululemon Athletica Is A Better Bet	Peer Comparison
6	Peloton Interactive (PTON) Stock: 41% of days in last 3 months had 1% or greater fluctuation
7	Peloton Interactive vs. Verisk Analytics: With Return Forecast Of 13%, Verisk Analytics Is A Better Bet	Peer Comparison
8	Peloton Interactive vs. Palantir Technologies: With Return Forecast Of 5.4%, Peloton Interactive Is A Better Bet	Peer Comparison
9	Peloton Interactive vs. Datadog: With Return Forecast Of 82%, Datadog Is A Better Bet	Peer Comparison
10	Peloton Interactive Total Shareholder Return (TSR): 105.3% in 2025 and -8.9% 3-yr compounded annual returns (below peer average)
11	ARTICLES
12	Peloton Stock Has More Upside Despite Struggling Equipment Business		February 3rd, 2023
13	With An Aggressive Restructuring Plan In Place, Is Peloton Stock A Buy?		August 22nd, 2022
14	The Peloton Sell Off Continues. Is The Stock Finally A Buy?		June 27th, 2022
15	Peloton Stock Is Cheap Given Its Solid Subscription Business		May 19th, 2022
16	Will Peloton’s New Strength Training Device Shore Up Its Stock Price?		April 6th, 2022

	Title
0	DASHBOARDS
1	With Peloton Interactive Stock Sliding, Have You Assessed The Risk?
2	How Does Peloton Interactive Stock Stack Up Against Its Peers?
3	PTON Dip Buy Analysis
4	Peloton Interactive vs. Planet Fitness: With Return Forecast Of 37%, Planet Fitness Is A Better Bet
5	Peloton Interactive vs. Lululemon Athletica: With Return Forecast Of 64%, Lululemon Athletica Is A Better Bet
6	Peloton Interactive (PTON) Stock: 41% of days in last 3 months had 1% or greater fluctuation
7	Peloton Interactive vs. Verisk Analytics: With Return Forecast Of 13%, Verisk Analytics Is A Better Bet
8	Peloton Interactive vs. Palantir Technologies: With Return Forecast Of 5.4%, Peloton Interactive Is A Better Bet
9	Peloton Interactive vs. Datadog: With Return Forecast Of 82%, Datadog Is A Better Bet
10	Peloton Interactive Total Shareholder Return (TSR): 105.3% in 2025 and -8.9% 3-yr compounded annual returns (below peer average)
11	ARTICLES
12	Peloton Stock Has More Upside Despite Struggling Equipment Business
13	With An Aggressive Restructuring Plan In Place, Is Peloton Stock A Buy?
14	The Peloton Sell Off Continues. Is The Stock Finally A Buy?
15	Peloton Stock Is Cheap Given Its Solid Subscription Business
16	Will Peloton’s New Strength Training Device Shore Up Its Stock Price?

Trade Ideas

Select past ideas related to PTON. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	6.8%	6.8%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.5%	0.5%	0.0%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-2.6%	-2.6%	-2.6%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	1.3%	1.3%	-1.6%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	6.8%	6.8%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.5%	0.5%	0.0%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-2.6%	-2.6%	-2.6%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	1.3%	1.3%	-1.6%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Peloton Interactive

Peers to compare with:

Financials

	PTON	LULU	PLNT	ESCA	CLAR	NOMA	Median
Name	Peloton .	Lululemo.	Planet F.	Escalade	Clarus	Nomadar
Mkt Price	6.67	182.30	108.43	13.02	3.70	7.32	10.17
Mkt Cap	2.8	21.8	9.1	0.2	0.1	-	2.8
Rev LTM	2,456	10,904	1,288	242	256	1	772
Op Inc LTM	95	2,495	378	18	-22	-2	57
FCF LTM	380	1,168	203	27	-7	-0	115
FCF 3Y Avg	27	1,279	198	36	7	-	36
CFO LTM	392	1,912	358	28	-1	-0	193
CFO 3Y Avg	51	1,964	344	38	13	-	51

Growth & Margins

	PTON	LULU	PLNT	ESCA	CLAR	NOMA	Median
Name	Peloton .	Lululemo.	Planet F.	Escalade	Clarus	Nomadar
Rev Chg LTM	-8.7%	9.2%	14.4%	-4.6%	-4.8%	-	-4.6%
Rev Chg 3Y Avg	-10.0%	15.8%	15.7%	-8.4%	-1.5%	-	-1.5%
Rev Chg Q	-6.0%	6.5%	13.0%	0.1%	3.3%	-	3.3%
QoQ Delta Rev Chg LTM	-1.4%	1.4%	3.0%	0.0%	0.9%	160.4%	1.2%
Op Mgn LTM	3.9%	22.9%	29.4%	7.5%	-8.7%	-306.9%	5.7%
Op Mgn 3Y Avg	-11.1%	22.7%	27.1%	6.9%	-14.9%	-	6.9%
QoQ Delta Op Mgn LTM	0.5%	-0.5%	1.2%	1.3%	0.9%	485.7%	1.0%
CFO/Rev LTM	16.0%	17.5%	27.8%	11.8%	-0.3%	-52.6%	13.9%
CFO/Rev 3Y Avg	2.5%	19.8%	29.8%	15.0%	7.9%	-	15.0%
FCF/Rev LTM	15.5%	10.7%	15.7%	11.0%	-2.8%	-52.6%	10.9%
FCF/Rev 3Y Avg	1.6%	12.9%	17.1%	14.2%	5.1%	-	12.9%

Valuation

	PTON	LULU	PLNT	ESCA	CLAR	NOMA	Median
Name	Peloton .	Lululemo.	Planet F.	Escalade	Clarus	Nomadar
Mkt Cap	2.8	21.8	9.1	0.2	0.1	-	2.8
P/S	1.5	2.6	6.7	0.7	0.5	-	1.5
P/EBIT	121.9	11.4	21.5	9.5	-6.0	-	11.4
P/E	-35.7	15.9	42.1	13.6	-1.7	-	13.6
P/CFO	9.5	14.9	24.2	6.1	-202.4	-	9.5
Total Yield	-2.8%	6.3%	2.4%	12.1%	-57.3%	-	2.4%
Dividend Yield	0.0%	0.0%	0.0%	4.8%	2.9%	-	0.0%
FCF Yield 3Y Avg	-2.1%	3.6%	3.3%	18.7%	0.3%	-	3.3%
D/E	0.5	0.1	0.3	0.1	0.1	-	0.1
Net D/E	0.2	0.0	0.2	0.1	-0.1	-	0.1

Returns

	PTON	LULU	PLNT	ESCA	CLAR	NOMA	Median
Name	Peloton .	Lululemo.	Planet F.	Escalade	Clarus	Nomadar
1M Rtn	-8.3%	10.2%	18.0%	11.3%	11.3%	-36.3%	10.7%
3M Rtn	-12.2%	-8.2%	6.5%	7.2%	7.1%	-	6.5%
6M Rtn	-10.7%	-45.6%	3.0%	-9.5%	10.8%	-	-9.5%
12M Rtn	-32.4%	-46.5%	9.1%	-14.0%	-16.5%	-	-16.5%
3Y Rtn	-49.8%	-52.8%	37.9%	48.9%	-52.5%	-	-49.8%
1M Excs Rtn	-8.2%	10.2%	18.0%	11.3%	11.3%	-36.3%	10.8%
3M Excs Rtn	-23.2%	-16.9%	-0.0%	-2.2%	-2.7%	-	-2.7%
6M Excs Rtn	-25.4%	-60.3%	-11.8%	-24.2%	-4.0%	-	-24.2%
12M Excs Rtn	-49.0%	-56.7%	-4.6%	-23.1%	-29.7%	-	-29.7%
3Y Excs Rtn	-107.0%	-122.6%	-31.6%	-27.6%	-122.2%	-	-107.0%

Comparison Analyses

	Title
0	How Does Peloton Interactive Stock Stack Up Against Its Peers?
1	Peloton Interactive vs. Planet Fitness: With Return Forecast Of 37%, Planet Fitness Is A Better Bet
2	Peloton Interactive vs. Lululemon Athletica: With Return Forecast Of 64%, Lululemon Athletica Is A Better Bet
3	Peloton Interactive vs. Verisk Analytics: With Return Forecast Of 13%, Verisk Analytics Is A Better Bet
4	Peloton Interactive vs. Palantir Technologies: With Return Forecast Of 5.4%, Peloton Interactive Is A Better Bet
5	Peloton Interactive vs. Datadog: With Return Forecast Of 82%, Datadog Is A Better Bet
6	Peloton Interactive vs. Frontdoor: With Return Forecast Of 9.5%, Frontdoor Is A Better Bet
7	Peloton Interactive vs. Hub: Neither Seems Like A Good Bet
8	Peloton Interactive vs. CONSOL Energy: With Return Forecast Of 9.2%, CONSOL Energy Is A Better Bet
9	Peloton Interactive vs. Trade Desk: With Return Forecast Of 61%, Trade Desk Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 6/30	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	6/30/2025	6/30/2024	6/30/2023	6/30/2022	6/30/2021	6/30/2020
Filing Date	11/6/2025	8/7/2025	8/22/2024	8/23/2023	9/7/2022	8/27/2021	9/11/2020
Key Financials
Total Revenue	2,456	2,491	2,700	2,800	3,582	4,022	1,826
EBITDA	112	109	-331	-1,037	-2,622	-120	-26
Operating Income	95	62	-406	-863	-1,981	-183	-80
Net Income	-104	-119	-552	-1,262	-2,828	-189	-72
EPS	-0.28	-0.30	-1.51	-3.64	-8.77	-0.64	-0.32
Growth Rates
Total Revenue Growth	-8.7%	-7.8%	-3.6%	-21.8%	-10.9%	120.3%	99.6%
EBITDA Growth	166.0%	132.8%	68.1%	60.5%	-2092.6%	-356.5%	84.8%
Operating Income Growth	135.2%	115.2%	53.0%	56.4%	-980.7%	-130.6%	60.7%
Net Income Growth	73.5%	78.5%	56.3%	55.4%	-1396.1%	-164.0%	63.4%
Margins
EBITDA Margin	4.6%	4.4%	-12.3%	-37.0%	-73.2%	-3.0%	-1.4%
Operating Income Margin	3.9%	2.5%	-15.0%	-30.8%	-55.3%	-4.6%	-4.4%
Net Income Margin	-4.2%	-4.8%	-20.4%	-45.1%	-78.9%	-4.7%	-3.9%
Cash & Debt
Total Cash	1,104	1,040	698	814	1,254	1,607	1,755
Total Debt	1,963	1,977	2,079	2,364	2,373	1,512	545
Net Debt / (Cash)	859	937	1,381	1,550	1,119	-95	-1,210
Cash Flows
Net Cash from Operations	392	333	-66	-388	-2,020	-240	376
Free Cash from Operations	380	324	-86	-470	-2,357	-492	220
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 6/30	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/6/2025	10/31/2024	8/22/2024	5/2/2024	2/1/2024	11/2/2023	8/23/2023	5/4/2023	2/1/2023
Key Financials Quarterly
Total Revenue	551	607	624	674	586	644	718	744	596	642	749	793
Ebitda	64	75	7	-34	60	25	-112	-144	-100	-183	-216	-279
Operating Income	54	67	1	-26	44	-56	-90	-170	-90	-172	-215	-273
Net Income	14	22	-48	-92	-1	-30	-167	-195	-159	-242	-276	-335
EPS	0.03	0.05	-0.12	-0.24	-0.00	-0.08	-0.45	-0.54	-0.44	-0.68	-0.79	-0.98
Key Financials TTM
Total Revenue TTM	2,456	2,491	2,527	2,621	2,691	2,700	2,699	2,730	2,779	2,800	2,837	3,052
Ebitda TTM	112	109	59	-60	-170	-331	-539	-644	-779	-1,037	-2,040	-2,531
Operating Income TTM	95	85	-37	-127	-271	-406	-522	-647	-749	-863	-1,534	-1,682
Net Income TTM	-104	-119	-171	-291	-394	-552	-763	-872	-1,012	-1,262	-2,275	-2,756
Growth Rates Quarterly
Total Revenue Growth	-6.0%	-5.7%	-13.1%	-9.4%	-1.6%	0.2%	-4.2%	-6.2%	-3.4%	-5.4%	-22.3%	-30.1%
EBITDA Growth	5.8%	196.9%	106.2%	76.5%	159.9%	113.9%	48.3%	48.5%	71.9%	84.6%	69.4%	28.6%
Operating Income Growth	23.0%	220.2%	100.7%	84.8%	148.6%	67.7%	58.3%	37.6%	55.7%	79.6%	40.8%	34.5%
Net Income Growth	1644.4%	170.8%	71.5%	52.8%	99.4%	87.4%	39.4%	41.9%	61.0%	80.7%	63.6%	23.7%
Margins Quarterly
EBITDA Margin	11.6%	12.4%	1.1%	-5.0%	10.3%	3.9%	-15.6%	-19.3%	-16.9%	-28.5%	-28.9%	-35.2%
Operating Income Margin	9.8%	11.0%	0.1%	-3.8%	7.5%	-8.6%	-12.5%	-22.9%	-15.2%	-26.7%	-28.7%	-34.4%
Net Income Margin	2.5%	3.6%	-7.6%	-13.6%	-0.2%	-4.7%	-23.3%	-26.2%	-26.7%	-37.7%	-36.8%	-42.3%
Cash & Debt
Total Cash	1,104	1,040	914	829	722	698	794	738	748	814	874	871
Total Debt	1,963	1,977	1,992	2,026	2,055	2,079	2,313	2,335	2,353	2,364	2,392	2,417
Net Debt / (Cash)	859	937	1,078	1,198	1,332	1,381	1,518	1,597	1,605	1,550	1,519	1,546
Cash Flows Quarterly
FCF from Operations	72	117	97	107	12	33	12	-31	-79	-55	-41	-88
Cash Flows TTM
FCF from Operations TTM	392	333	249	164	26	-66	-154	-207	-264	-388	-674	-1,304
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	3.4%	4.1%	0.0%	-1.7%	2.8%	-3.5%	-5.6%	-10.6%	-5.7%	-11.1%	-14.1%	-18.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	1.6%	1.4%	-0.6%	-2.0%	-4.3%	-6.4%	-8.2%	-10.1%	-11.8%	-14.0%	-25.2%	-28.1%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Subscription	1,709	1,670	1,395	872	364
Connected Fitness Products	992	1,130	2,188	3,150	1,462
Total	2,700	2,800	3,582	4,022	1,826

Price Behavior

Price Behavior

Market Price	$6.67
Market Cap ($ Bil)	2.8
First Trading Date	09/26/2019
Distance from 52W High	-36.9%
	50 Days	200 Days
DMA Price	$7.46	$7.09
DMA Trend	down	down
Distance from DMA	-10.6%	-5.9%
	3M	1YR
Volatility	61.0%	74.6%
Downside Capture	259.16	249.67
Upside Capture	126.79	179.80
Correlation (SPY)	39.3%	53.6%

PTON Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.85	1.83	2.01	2.45	2.02	2.11
Up Beta	-2.19	0.38	0.31	1.19	1.70	1.55
Down Beta	4.16	2.87	2.94	4.25	2.28	1.99
Up Capture	194%	52%	147%	189%	284%	2619%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	17	29	58	113	353
Down Capture	271%	249%	233%	223%	152%	112%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	25	34	66	132	387

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of PTON With Other Asset Classes (Last 1Y)
	PTON	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-31.4%	9.3%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	74.9%	24.8%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.19	0.31	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		54.8%	53.3%	0.5%	9.9%	32.7%	28.5%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of PTON With Other Asset Classes (Last 5Y)
	PTON	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-42.4%	9.5%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	86.4%	23.8%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	-0.25	0.36	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		44.5%	39.9%	2.9%	4.3%	33.8%	20.2%

Based On 10-Year Data

		Comparison of PTON With Other Asset Classes (Last 10Y)
	PTON	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-19.7%	12.6%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	84.4%	22.0%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.13	0.53	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		36.8%	30.6%	6.7%	3.8%	21.8%	19.1%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	72,844,932
Short Interest: % Change Since 10312025	-1.1%
Average Daily Volume	13,409,332
Days-to-Cover Short Interest	5.43
Basic Shares Quantity	413,108,105
Short % of Basic Shares	17.6%

Returns Analyses

	Title
0	With Peloton Interactive Stock Sliding, Have You Assessed The Risk?
1	Peloton Interactive Stock Return Comparison
2	[10/12/2021] Peloton Interactive (PTON) Stock Price Forecast: AI Forecasts PTON Stock Price To Be Around $94.90 In A Month (Up 9.5%)
3	Peloton Interactive Total Shareholder Return (TSR): -92.6% in 2022 and -25.8% 3-yr returns (below peer average)
4	Leisure Facilities Industry Return: 10% YTD Return vs 17% For S&P 500

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-K 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2062025	10-Q 12/31/2024
9302024	10312024	10-Q 9/30/2024
6302024	8222024	10-K 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2012024	10-Q 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8232023	10-K 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	2012023	10-Q 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	9072022	10-K 6/30/2022
3312022	5102022	10-Q 3/31/2022
12312021	2082022	10-Q 12/31/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Peloton Interactive (PTON)

Market Price (12/4/2025): $6.575 | Market Cap: $2.7 BilSector: Consumer Discretionary | Industry: Leisure Facilities

Peloton Interactive (PTON)

Market Price (12/4/2025): $6.575Market Cap: $2.7 BilSector: Consumer DiscretionaryIndustry: Leisure Facilities

Valuation, Metrics & Events

PTON Stock

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Qualitative Assessment

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About Peloton Interactive (PTON)

Major Products of Peloton Interactive (PTON)

Peloton Interactive (PTON) - Major Customers

Connected Fitness Equipment

Fitness Content and Subscription Services

Capital Allocation Decisions (Last 3-5 Years)

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Interactive Breakdown

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Market Price (12/4/2025): $6.575 | Market Cap: $2.7 Bil
Sector: Consumer Discretionary | Industry: Leisure Facilities

Market Price (12/4/2025): $6.575
Market Cap: $2.7 Bil
Sector: Consumer Discretionary
Industry: Leisure Facilities