# Peloton Interactive, Inc. (PTON)

> Source: Nexqual · https://nexqual.com/PTON · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Peloton Interactive, Inc. (PTON), nexqual.com/PTON" · informational, not investment advice.

**Price:** USD 5.46 (+4.20% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 5.24 · day 5.23–5.46 · 52w 3.65–7.97 · market cap $2.40B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.45B, net income $63.1M (2.6% margin), free cash flow $378M (SEC filings).
- Valuation: P/E 38.0x (avg 40.8x at the last 1 fiscal year-ends), EV/EBITDA 11.6x, net debt $133M.
- Earnings quality: non-operating income -$97.6M vs operating income $161M over the last four quarters; P/E excluding non-operating income ≈14.9x (estimate: non-operating income taxed at the company's 0% effective rate).
- Analysts: Hold (mean 2.75 on a 1–5 scale) (20 analysts), mean target USD 7.9 (range 4–20).
- Total return with dividends: 1Y -27.2% vs S&P 500 +14.9%; 5Y -94.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.11, revenue estimate $553M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.58B | $2.80B | $2.70B | $2.49B | $2.45B | $2.45B |
| Gross profit | $698M | $924M | $1.21B | $1.27B | $1.29B | — |
| Operating income | -$2.73B | -$1.20B | -$529M | -$36.2M | $161M | $161M |
| Net income | -$2.83B | -$1.26B | -$552M | -$119M | $63.2M | $63.1M |
| EPS (diluted) | -$8.77 | -$3.64 | -$1.51 | -$0.30 | $0.14 | — |
| Free cash flow | -$2.36B | -$470M | -$85.8M | $324M | $378M | $378M |
| Gross margin | 19.5% | 33.0% | 44.7% | 50.9% | 52.6% | — |
| Operating margin | -76.3% | -42.8% | -19.6% | -1.5% | 6.6% | 6.6% |
| Net margin | -78.9% | -45.1% | -20.4% | -4.8% | 2.6% | 2.6% |
| Revenue growth | -10.9% | -21.8% | -3.6% | -7.8% | -1.8% | — |
| Cash + short-term investments | $1.25B | — | — | $1.04B | $1.21B | — |
| Total debt | $872M | $996M | $1.56B | $1.75B | $1.34B | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 38.0x · P/E ex non-operating (est.) ≈14.9x · P/S 1.0x · EV/EBITDA 11.6x · EV/Sales 1.0x · P/FCF 6.3x · FCF yield 15.76% · Earnings yield 2.63% · Net debt $133M · EV $2.53B
P/E at fiscal year-ends: Jun 2026 40.8x.

## Analysts
Consensus Hold (mean 2.75 on a 1–5 scale), 20 analysts; mean target USD 7.9 (low 4, high 20).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-08 | Morgan Stanley | Downgrade | Equal-Weight → Underweight | $5 → $4.5 |
| 2026-09-08 | UBS | Target lowered | Buy | $11 → $10 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -27.2% | -94.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -27.3% | -43.3% |
| Volatility (annualized) | 61.5% | 82.1% |
| Max drawdown | -52.6% (Oct 2025→Mar 2026) | -96.8% (Oct 2021→Aug 2024) |

## Peers (Leisure)
OSW (OneSpaWorld Holdings Limited) USD 24.29 +1.50% · CALY (Callaway Golf Company) USD 14.36 +2.21% · YETI (YETI Holdings, Inc.) USD 44.03 +2.95% · PLNT (Planet Fitness, Inc.) USD 53.27 +3.06% · PRKS (United Parks & Resorts Inc.) USD 31.08 +1.87% · GOLF (Acushnet Holdings Corp.) USD 81.97 +2.50%

## More
Full page: https://nexqual.com/PTON · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name PTON in their own reports (relationship from PTON's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Mayville Engineering Company, Inc. (MEC) | 10-K 2026-03-04 | "In the remaining claim, MEC asserted that Peloton breached and anticipatorily repudiated the Supply Agreement by unilaterally cancelling the Manufacturing Project, and refusing to pay MEC certain mont…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription | $436.6M | 71.8% | +6.9% |
| Connected Fitness Products | $171.2M | 28.2% | -13.8% |
| Total revenue | $607.8M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription | $436.6M | 71.8% | +6.9% |
| Connected Fitness Products | $171.2M | 28.2% | -13.8% |
| Total revenue | $607.8M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $548.2M | 90.2% | -0.3% |
| United States | $527.2M | 86.7% | -0.3% |
| International | $59.5M | 9.8% | +4.2% |
| Total revenue | $607.8M | 100% | — |
The lines above cover 186.7% of total revenue.

## Company outlook (8-K filed 2026-08-06)

- "Below is our outlook for Q1 and Full Year fiscal 2027."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.11 | $0.11 | +0.2% | $552.9M | 11 |
| Next quarter (ends 2026-12-31) | $0.02 | $0.01 | +47.4% | $635.4M | 11 |
| Current fiscal year (ends 2027-06-30) | $0.32 | $0.28 | +14.8% | $2.36B | 17 |
| Next fiscal year (ends 2028-06-30) | $0.35 | $0.36 | -2.9% | $2.34B | 12 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-05): ±14.4%; earnings reaction alone ±12.6%; last 8 reports averaged ±11.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 39.7% | ±4.8% |
| 2026-11-06 | 14 | 88.5% | ±14.4% |
| 2026-11-13 | 21 | 81.6% | ±16.1% |
| 2026-11-20 | 28 | 76.4% | ±17.3% |
| 2026-11-27 | 35 | 72.1% | ±18.1% |
| 2026-12-04 | 42 | 72.6% | ±20.0% |
| 2026-12-18 | 56 | 64.7% | ±20.7% |
| 2027-01-15 | 84 | 58.6% | ±22.7% |