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Peloton Interactive, Inc. Financials

PTON
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE June

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 31 / 100
Financial Profile 31/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Peloton Interactive, Inc. has an operating margin of -1.5%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -19.6% the prior year.

Growth
6

Peloton Interactive, Inc.'s revenue declined 7.8% year-over-year, from $2.7B to $2.5B. This contraction results in a growth score of 6/100.

Liquidity
52

Peloton Interactive, Inc.'s current ratio of 1.79 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
65

Peloton Interactive, Inc. converts 13.0% of revenue into free cash flow ($323.7M). This strong cash generation earns a score of 65/100.

Piotroski F-Score Neutral
4/9

Peloton Interactive, Inc. passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed
-2.80x

For every $1 of reported earnings, Peloton Interactive, Inc. generates $-2.80 in operating cash flow ($333.0M OCF vs -$118.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-0.3x

Peloton Interactive, Inc. earns $-0.3 in operating income for every $1 of interest expense (-$36.2M vs $134.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Peloton Interactive, Inc. (PTON) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue
$2.5B
YoY-7.8%
5Y CAGR+6.4%

Peloton Interactive, Inc. generated $2.5B in revenue in fiscal year 2025. This represents a decrease of 7.8% from the prior year.

EBITDA
$53.5M
YoY+112.7%

Peloton Interactive, Inc.'s EBITDA was $53.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 112.7% from the prior year.

Free Cash Flow
$323.7M
YoY+477.3%
5Y CAGR+7.7%

Peloton Interactive, Inc. generated $323.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 477.3% from the prior year.

Net Income
-$118.9M
YoY+78.5%

Peloton Interactive, Inc. reported -$118.9M in net income in fiscal year 2025. This represents an increase of 78.5% from the prior year.

EPS (Diluted)
$-0.30
YoY+80.1%

Peloton Interactive, Inc. earned $-0.30 per diluted share (EPS) in fiscal year 2025. This represents an increase of 80.1% from the prior year.

Cash & Debt
$1.0B
YoY+49.0%
5Y CAGR+0.1%

Peloton Interactive, Inc. held $1.0B in cash against $1.5B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A
Gross Margin
50.9%
YoY+6.2pp
5Y CAGR+5.0pp

Peloton Interactive, Inc.'s gross margin was 50.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 6.2 percentage points from the prior year.

Operating Margin
-1.5%
YoY+18.1pp
5Y CAGR+3.0pp

Peloton Interactive, Inc.'s operating margin was -1.5% in fiscal year 2025, reflecting core business profitability. This is up 18.1 percentage points from the prior year.

Net Margin
-4.8%
YoY+15.7pp
5Y CAGR-0.9pp

Peloton Interactive, Inc.'s net profit margin was -4.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.7 percentage points from the prior year.

Return on Equity
N/A
R&D Spending
$234.2M
YoY-23.2%
5Y CAGR+21.3%

Peloton Interactive, Inc. invested $234.2M in research and development in fiscal year 2025. This represents a decrease of 23.2% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$9.3M
YoY-52.8%
5Y CAGR-42.9%

Peloton Interactive, Inc. invested $9.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 52.8% from the prior year.

PTON Income Statement

Metric Q2'25 Q1'25 Q3'25 Q2'24 Q1'24 Q3'24 Q2'23 Q1'23
Revenue $656.5M+19.2% $550.8M-11.7% $624.0M-7.4% $673.9M+15.0% $586.0M-18.4% $717.7M-3.5% $743.6M+24.9% $595.5M
Cost of Revenue $325.2M+21.8% $267.1M-12.7% $306.0M-13.9% $355.6M+26.0% $282.2M-30.8% $408.0M-8.1% $444.2M+43.2% $310.1M
Gross Profit $331.3M+16.8% $283.7M-10.8% $318.1M-0.1% $318.4M+4.8% $303.8M-1.9% $309.7M+3.4% $299.4M+4.9% $285.4M
R&D Expenses $65.0M+4.7% $62.1M+4.2% $59.6M-1.2% $60.3M+3.1% $58.5M-23.8% $76.8M-3.9% $79.9M+1.5% $78.7M
SG&A Expenses $102.9M+2.1% $100.8M-33.4% $151.4M+15.3% $131.3M+9.9% $119.5M-21.9% $153.0M-4.9% $160.8M+6.4% $151.1M
Operating Income -$14.3M-134.6% $41.3M+227.5% -$32.4M+29.4% -$45.9M-467.2% $12.5M+108.5% -$146.2M+21.9% -$187.1M-41.4% -$132.3M
Interest Expense $31.5M-2.5% $32.3M-0.9% $32.6M-5.8% $34.6M-2.3% $35.4M+27.8% $27.7M0.0% $27.7M+1.8% $27.2M
Income Tax -$200K-128.6% $700K-12.5% $800K+14.3% $700K-12.5% $800K+33.3% $600K+135.3% -$1.7M-312.5% $800K
Net Income -$38.8M-379.1% $13.9M+129.1% -$47.7M+48.2% -$92.0M-10122.2% -$900K+99.5% -$167.3M+14.2% -$194.9M-22.3% -$159.3M
EPS (Diluted) $-0.09-400.0% $0.03+125.0% $-0.12+50.0% $-0.24 $0.00+100.0% $-0.45+16.7% $-0.54-22.7% $-0.44

PTON Balance Sheet

Metric Q2'25 Q1'25 Q3'25 Q2'24 Q1'24 Q3'24 Q2'23 Q1'23
Total Assets $2.2B-0.3% $2.2B+5.1% $2.1B-2.1% $2.1B-2.2% $2.2B-10.4% $2.4B-6.3% $2.6B-3.9% $2.7B
Current Assets $1.6B+2.9% $1.5B+12.8% $1.3B+2.5% $1.3B+1.7% $1.3B-9.6% $1.4B-6.9% $1.5B-3.8% $1.6B
Cash & Equivalents $1.2B+6.9% $1.1B+20.7% $914.3M+10.3% $829.0M+14.8% $722.3M-9.1% $794.5M+7.7% $737.7M-1.4% $748.5M
Inventory $214.9M-9.6% $237.7M+11.3% $213.5M-17.2% $257.8M-22.7% $333.3M-6.0% $354.4M-17.0% $427.2M-17.0% $514.6M
Accounts Receivable $94.6M+34.4% $70.4M-24.8% $93.6M-3.3% $96.8M-4.9% $101.8M+0.1% $101.7M-27.9% $141.0M+41.3% $99.8M
Goodwill $44.0M0.0% $44.0M+6.8% $41.2M0.0% $41.2M0.0% $41.2M0.0% $41.2M0.0% $41.2M0.0% $41.2M
Total Liabilities $2.5B-1.0% $2.5B-1.5% $2.6B-1.9% $2.6B-1.2% $2.6B-12.1% $3.0B-2.3% $3.1B+0.8% $3.0B
Current Liabilities $784.8M-1.3% $795.0M-2.1% $811.7M+27.9% $634.7M-0.9% $640.2M-14.1% $745.5M-6.0% $793.3M+5.8% $750.0M
Long-Term Debt $1.5B-0.2% $1.5B-0.3% $1.5B-0.2% $1.5B-0.2% $1.5B N/A N/A N/A
Total Equity -$326.7M+5.9% -$347.0M+29.4% -$491.3M+1.2% -$497.2M-3.5% -$480.3M+18.6% -$590.4M-18.2% -$499.3M-34.6% -$370.9M
Retained Earnings -$5.6B-0.7% -$5.6B+0.6% -$5.6B-0.9% -$5.6B-1.7% -$5.5B-0.6% -$5.5B-3.2% -$5.3B-3.8% -$5.1B

PTON Cash Flow Statement

Metric Q2'25 Q1'25 Q3'25 Q2'24 Q1'24 Q3'24 Q2'23 Q1'23
Operating Cash Flow $71.9M0.0% $71.9M-25.6% $96.7M-9.4% $106.7M+753.6% $12.5M+7.8% $11.6M+137.2% -$31.2M+60.6% -$79.2M
Capital Expenditures $900K-80.0% $4.5M+114.3% $2.1M+200.0% $700K-61.1% $1.8M-40.0% $3.0M-49.2% $5.9M+43.9% $4.1M
Free Cash Flow $71.0M+5.3% $67.4M-28.8% $94.6M-10.8% $106.0M+890.7% $10.7M+24.4% $8.6M+123.2% -$37.1M+55.5% -$83.3M
Investing Cash Flow -$900K+86.6% -$6.7M-219.0% -$2.1M-200.0% -$700K-129.2% $2.4M-91.7% $28.9M+232.2% $8.7M+312.2% -$4.1M
Financing Cash Flow -$900K+47.1% -$1.7M+10.5% -$1.9M-137.5% -$800K-116.7% $4.8M-60.7% $12.2M+41.9% $8.6M+4.9% $8.2M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

PTON Financial Ratios

Metric Q2'25 Q1'25 Q3'25 Q2'24 Q1'24 Q3'24 Q2'23 Q1'23
Gross Margin 50.5%-1.0pp 51.5%+0.5pp 51.0%+3.7pp 47.3%-4.6pp 51.8%+8.7pp 43.1%+2.9pp 40.3%-7.7pp 47.9%
Operating Margin -2.2%-9.7pp 7.5%+12.7pp -5.2%+1.6pp -6.8%-8.9pp 2.1%+22.5pp -20.4%+4.8pp -25.2%-2.9pp -22.2%
Net Margin -5.9%-8.4pp 2.5%+10.2pp -7.6%+6.0pp -13.7%-13.5pp -0.1%+23.2pp -23.3%+2.9pp -26.2%+0.5pp -26.8%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets -1.8%-2.4pp 0.6%+2.9pp -2.3%+2.1pp -4.4%-4.3pp -0.0%+6.9pp -7.0%+0.6pp -7.6%-1.6pp -6.0%
Current Ratio 1.98+0.1 1.90+0.3 1.65-0.4 2.06+0.1 2.01+0.1 1.91-0.0 1.92-0.2 2.12
Debt-to-Equity -4.70-0.3 -4.43-1.3 -3.14-0.0 -3.11+0.1 -3.22+1.9 -5.08+1.1 -6.15+2.1 -8.21
FCF Margin 10.8%-1.4pp 12.2%-2.9pp 15.2%-0.6pp 15.7%+13.9pp 1.8%+0.6pp 1.2%+6.2pp -5.0%+9.0pp -14.0%

Note: Shareholder equity is negative (-$413.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is Peloton Interactive, Inc.'s annual revenue?

Peloton Interactive, Inc. (PTON) reported $2.5B in total revenue for fiscal year 2025. This represents a -7.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Peloton Interactive, Inc.'s revenue growing?

Peloton Interactive, Inc. (PTON) revenue declined by 7.8% year-over-year, from $2.7B to $2.5B in fiscal year 2025.

Is Peloton Interactive, Inc. profitable?

No, Peloton Interactive, Inc. (PTON) reported a net income of -$118.9M in fiscal year 2025, with a net profit margin of -4.8%.

What is Peloton Interactive, Inc.'s earnings per share (EPS)?

Peloton Interactive, Inc. (PTON) reported diluted earnings per share of $-0.30 for fiscal year 2025. This represents a 80.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Peloton Interactive, Inc.'s EBITDA?

Peloton Interactive, Inc. (PTON) had EBITDA of $53.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Peloton Interactive, Inc. have?

As of fiscal year 2025, Peloton Interactive, Inc. (PTON) had $1.0B in cash and equivalents against $1.5B in long-term debt.

What is Peloton Interactive, Inc.'s gross margin?

Peloton Interactive, Inc. (PTON) had a gross margin of 50.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Peloton Interactive, Inc.'s operating margin?

Peloton Interactive, Inc. (PTON) had an operating margin of -1.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Peloton Interactive, Inc.'s net profit margin?

Peloton Interactive, Inc. (PTON) had a net profit margin of -4.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Peloton Interactive, Inc.'s free cash flow?

Peloton Interactive, Inc. (PTON) generated $323.7M in free cash flow during fiscal year 2025. This represents a 477.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Peloton Interactive, Inc.'s operating cash flow?

Peloton Interactive, Inc. (PTON) generated $333.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Peloton Interactive, Inc.'s total assets?

Peloton Interactive, Inc. (PTON) had $2.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Peloton Interactive, Inc.'s capital expenditures?

Peloton Interactive, Inc. (PTON) invested $9.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Peloton Interactive, Inc. spend on research and development?

Peloton Interactive, Inc. (PTON) invested $234.2M in research and development during fiscal year 2025.

What is Peloton Interactive, Inc.'s current ratio?

Peloton Interactive, Inc. (PTON) had a current ratio of 1.79 as of fiscal year 2025, which is generally considered healthy.

What is Peloton Interactive, Inc.'s debt-to-equity ratio?

Peloton Interactive, Inc. (PTON) had a debt-to-equity ratio of -3.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Peloton Interactive, Inc.'s return on assets (ROA)?

Peloton Interactive, Inc. (PTON) had a return on assets of -5.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is Peloton Interactive, Inc.'s debt-to-equity ratio negative or unusual?

Peloton Interactive, Inc. (PTON) has negative shareholder equity of -$413.8M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Peloton Interactive, Inc.'s Piotroski F-Score?

Peloton Interactive, Inc. (PTON) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Peloton Interactive, Inc.'s earnings high quality?

Peloton Interactive, Inc. (PTON) has an earnings quality ratio of -2.80x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Peloton Interactive, Inc. cover its interest payments?

Peloton Interactive, Inc. (PTON) has an interest coverage ratio of -0.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Peloton Interactive, Inc.?

Peloton Interactive, Inc. (PTON) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.