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Peloton Interactive (PTON)

Market Price (2/21/2026): $4.41 | Market Cap: $1.9 Bil
Sector: Consumer Discretionary | Industry: Leisure Facilities

Peloton Interactive (PTON)

Market Price (2/21/2026): $4.41
Market Cap: $1.9 Bil
Sector: Consumer Discretionary
Industry: Leisure Facilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%		 Weak multi-year price returns
2Y Excs Rtn is -43%, 3Y Excs Rtn is -135%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.2%, Rev Chg QQuarterly Revenue Change % is -2.6%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -50%		 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 16%		 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 -7.1%
2 Attractive yield
FCF Yield is 19%		  Short seller report
3 Megatrend and thematic drivers
Megatrends include Digital Content & Streaming, Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Streaming Fitness Content, Show more.		  Key risks
PTON key risks include [1] significant financial distress from a heavy debt load and negative equity amid declining revenue, Show more.
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -50%
2 Attractive yield
FCF Yield is 19%
3 Megatrend and thematic drivers
Megatrends include Digital Content & Streaming, Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Streaming Fitness Content, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -43%, 3Y Excs Rtn is -135%
5 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 16%
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.2%, Rev Chg QQuarterly Revenue Change % is -2.6%
7 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 -7.1%
8 Short seller report
9 Key risks
PTON key risks include [1] significant financial distress from a heavy debt load and negative equity amid declining revenue, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Peloton Interactive (PTON) stock has lost about 40% since 10/31/2025 because of the following key factors:

1. Peloton's Q2 FY2026 (Q4 CY2025) earnings significantly missed analyst expectations for revenue and reported a larger-than-anticipated GAAP loss per share.On February 5, 2026, Peloton announced its financial results for the quarter ended December 31, 2025, which is its Q2 FY2026. The company reported total revenue of $657 million, falling short of analyst estimates of $677.2 million by 3.1% and marking a 2.6% year-over-year decline. Additionally, Peloton's GAAP loss of $0.09 per share was 53.8% worse than analysts' consensus estimates of a $0.06 loss. This substantial underperformance led to a sharp decline in the stock price, with shares plummeting 23% on the day of the announcement.

2. The company provided disappointing revenue guidance for the subsequent quarter and reduced its full-year FY2026 revenue outlook.Following the Q2 FY2026 earnings report, Peloton's guidance for the next quarter (Q3 FY2026) projected revenue of $615 million, which was 3.5% below analysts' estimates. Furthermore, the company lowered its full-year FY2026 revenue guidance to a midpoint of $2.42 billion from a previous outlook of $2.45 billion, representing a 1.2% decrease. This conservative outlook signaled ongoing challenges and tempered investor expectations for a quick turnaround.

Show more

Stock Movement Drivers

Fundamental Drivers

The -39.3% change in PTON stock from 10/31/2025 to 2/20/2026 was primarily driven by a -35.0% change in the company's P/S Multiple.
(LTM values as of)103120252202026Change
Stock Price ($)7.264.41-39.3%
Change Contribution By: 
Total Revenues ($ Mil)2,4912,438-2.1%
P/S Multiple1.20.8-35.0%
Shares Outstanding (Mil)402421-4.5%
Cumulative Contribution-39.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/20/2026
ReturnCorrelation
PTON-39.3% 
Market (SPY)1.1%44.0%
Sector (XLY)-2.1%42.4%

Fundamental Drivers

The -38.2% change in PTON stock from 7/31/2025 to 2/20/2026 was primarily driven by a -31.5% change in the company's P/S Multiple.
(LTM values as of)73120252202026Change
Stock Price ($)7.144.41-38.2%
Change Contribution By: 
Total Revenues ($ Mil)2,5272,438-3.5%
P/S Multiple1.10.8-31.5%
Shares Outstanding (Mil)394421-6.5%
Cumulative Contribution-38.2%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/20/2026
ReturnCorrelation
PTON-38.2% 
Market (SPY)9.4%45.5%
Sector (XLY)6.3%44.1%

Fundamental Drivers

The -43.1% change in PTON stock from 1/31/2025 to 2/20/2026 was primarily driven by a -30.2% change in the company's P/S Multiple.
(LTM values as of)13120252202026Change
Stock Price ($)7.754.41-43.1%
Change Contribution By: 
Total Revenues ($ Mil)2,6912,438-9.4%
P/S Multiple1.10.8-30.2%
Shares Outstanding (Mil)379421-10.1%
Cumulative Contribution-43.1%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/20/2026
ReturnCorrelation
PTON-43.1% 
Market (SPY)15.6%52.3%
Sector (XLY)1.8%53.1%

Fundamental Drivers

The -65.9% change in PTON stock from 1/31/2023 to 2/20/2026 was primarily driven by a -41.0% change in the company's P/S Multiple.
(LTM values as of)13120232202026Change
Stock Price ($)12.934.41-65.9%
Change Contribution By: 
Total Revenues ($ Mil)3,3932,438-28.1%
P/S Multiple1.30.8-41.0%
Shares Outstanding (Mil)339421-19.5%
Cumulative Contribution-65.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/20/2026
ReturnCorrelation
PTON-65.9% 
Market (SPY)75.9%39.0%
Sector (XLY)61.7%41.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PTON Return-76%-78%-23%43%-29%-28%-97%
Peers Return22%-16%16%25%-11%-0%31%
S&P 500 Return27%-19%24%23%16%0%83%

Monthly Win Rates [3]
PTON Win Rate25%42%42%50%42%0% 
Peers Win Rate52%40%57%53%48%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
PTON Max Drawdown-77%-81%-46%-53%-43%-32% 
Peers Max Drawdown-12%-41%-24%-28%-28%-9% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: LULU, GRMN, PLNT, LTH, XPOF. 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] 2026 data is for the year up to 2/20/2026 (YTD)

How Low Can It Go

Unique KeyEventPTONS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-97.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven3793.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-41.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven71.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven34 days148 days

Compare to LULU, GRMN, PLNT, LTH, XPOF

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.

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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 Analysis | Feedback

Here are 1-3 brief analogies for Peloton:

  • The Tesla of home fitness

  • SoulCycle for your living room

  • Netflix for fitness

AI 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 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.

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

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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 Analysis | Feedback

The key risks to Peloton Interactive (PTON) are:

  1. Declining Revenue and Profitability Concerns: Peloton has faced ongoing challenges with shrinking revenue, particularly in its Connected Fitness Products segment, and struggles to achieve consistent profitability. Despite efforts to improve margins through cost management, the company reported a fiscal year 2025 net loss of $118.9 million, although this was an improvement from the prior year. Peloton also has negative total equity and is heavily debt-financed, with approximately $1.499 billion in total debt as of the end of fiscal year 2025, which contributes to significant financial stress and rising interest expenses. The company's negative equity position places it in a different risk category compared to peers and suggests a poor financial strength.
  2. Intense Competition and Evolving Consumer Preferences: The connected fitness market is highly competitive, with numerous companies, including larger players with deeper pockets, vying for market share. Post-pandemic, consumer preferences have shifted, with many individuals returning to traditional gyms or seeking lower-cost alternatives, leading to a significant reduction in demand for Peloton's premium-priced at-home equipment. This evolving market has also contributed to stagnant subscriber growth and concerning churn rates for Peloton.
  3. Product Recalls and Brand Trust Issues: Peloton has previously experienced significant setbacks due to product recalls, most notably the Tread+ treadmill recall, which resulted in associated fines and negatively impacted brand reputation. Such incidents can quickly erode brand trust and profitability, and the risk of future product recalls remains. Furthermore, the company's reliance on third-party suppliers, contract manufacturers, and logistics partners introduces risks regarding the timely production and quality of its products and services.

AI 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.

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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 Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Peloton Interactive (PTON) over the next 2-3 years:
  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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 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 vs. Peloton Interactive (PTON)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Peloton Stock (-26%): Subscriber Exodus & Weak Guidance Trigger Capitulation02/06/2026
2Is Peloton Interactive Stock Built to Withstand More Downside?02/06/2026
3Peloton Interactive Earnings Notes12/28/2026
4How Does Peloton Interactive Stock Stack Up Against Its Peers?08/13/2025
5PTON Dip Buy Analysis07/10/2025
6Peloton Interactive vs. Planet Fitness: With Return Forecast Of 37%, Planet Fitness Is A Better Bet05/26/2025
7Peloton Interactive vs. Lululemon Athletica: With Return Forecast Of 64%, Lululemon Athletica Is A Better Bet05/26/2025
8Peloton Interactive (PTON) Stock: 41% of days in last 3 months had 1% or greater fluctuation05/14/2025
9Peloton Interactive vs. Verisk Analytics: With Return Forecast Of 13%, Verisk Analytics Is A Better Bet05/12/2025
10ARTICLES 
11Peloton Stock (-26%): Subscriber Exodus & Weak Guidance Trigger Capitulation02/06/2026
12With Peloton Interactive Stock Sliding, Have You Assessed The Risk?02/06/2026
13What’s Behind Peloton Stock’s 30% Freefall?01/22/2026
14Peloton Stock Has More Upside Despite Struggling Equipment Business02/03/2023
15With An Aggressive Restructuring Plan In Place, Is Peloton Stock A Buy?08/22/2022
Title
0DASHBOARDS
1Peloton Stock (-26%): Subscriber Exodus & Weak Guidance Trigger Capitulation
2Is Peloton Interactive Stock Built to Withstand More Downside?
3Peloton Interactive Earnings Notes
4How Does Peloton Interactive Stock Stack Up Against Its Peers?
5PTON Dip Buy Analysis
6Peloton Interactive vs. Planet Fitness: With Return Forecast Of 37%, Planet Fitness Is A Better Bet
7Peloton Interactive vs. Lululemon Athletica: With Return Forecast Of 64%, Lululemon Athletica Is A Better Bet
8Peloton Interactive (PTON) Stock: 41% of days in last 3 months had 1% or greater fluctuation
9Peloton Interactive vs. Verisk Analytics: With Return Forecast Of 13%, Verisk Analytics Is A Better Bet
10ARTICLES
11Peloton Stock (-26%): Subscriber Exodus & Weak Guidance Trigger Capitulation
12With Peloton Interactive Stock Sliding, Have You Assessed The Risk?
13What’s Behind Peloton Stock’s 30% Freefall?
14Peloton Stock Has More Upside Despite Struggling Equipment Business
15With An Aggressive Restructuring Plan In Place, Is Peloton Stock A Buy?

Trade Ideas

Select ideas related to PTON.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
LULU_1302026_Dip_Buyer_FCFYield01302026LULULululemon AthleticaDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		1.1%1.1%-2.8%
KSS_1302026_Short_Squeeze01302026KSSKohl'sSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		13.6%13.6%-1.0%
AAP_1022026_Short_Squeeze01022026AAPAdvance Auto PartsSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		51.3%51.3%-0.4%
KTB_12192025_Dip_Buyer_FCFYield12192025KTBKontoor BrandsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		5.2%5.2%-10.3%
COUR_12192025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG12192025COURCourseraDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		-21.8%-21.8%-24.2%

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Peer Comparisons

Peers to compare with:

Financials

PTONLULUGRMNPLNTLTHXPOFMedian
NamePeloton .Lululemo.Garmin Planet F.Life TimeXponenti. 
Mkt Price4.41187.30248.9090.6528.958.2959.80
Mkt Cap1.922.247.97.66.40.37.0
Rev LTM2,43811,0736,9431,2882,9133152,676
Op Inc LTM1332,4401,77837843949409
FCF LTM3451,1281,3322037114274
FCF 3Y Avg821,3431,222198-8218140
CFO LTM3581,8611,56335879418576
CFO 3Y Avg1052,0251,41934458126463

Growth & Margins

PTONLULUGRMNPLNTLTHXPOFMedian
NamePeloton .Lululemo.Garmin Planet F.Life TimeXponenti. 
Rev Chg LTM-7.0%8.8%16.6%14.4%15.8%-3.5%11.6%
Rev Chg 3Y Avg-7.2%14.2%12.2%15.7%19.5%13.2%13.7%
Rev Chg Q-2.6%7.1%11.7%13.0%12.9%-2.1%9.4%
QoQ Delta Rev Chg LTM-0.7%1.6%2.7%3.0%3.2%-0.5%2.1%
Op Mgn LTM5.4%22.0%25.6%29.4%15.1%15.5%18.8%
Op Mgn 3Y Avg-7.7%22.4%23.2%27.1%12.7%12.7%17.6%
QoQ Delta Op Mgn LTM1.6%-0.8%-0.4%1.2%1.0%7.2%1.1%
CFO/Rev LTM14.7%16.8%22.5%27.8%27.2%5.8%19.7%
CFO/Rev 3Y Avg4.4%20.1%23.9%29.8%22.6%8.4%21.4%
FCF/Rev LTM14.2%10.2%19.2%15.7%2.4%4.4%12.2%
FCF/Rev 3Y Avg3.6%13.4%20.5%17.1%-4.1%5.9%9.6%

Valuation

PTONLULUGRMNPLNTLTHXPOFMedian
NamePeloton .Lululemo.Garmin Planet F.Life TimeXponenti. 
Mkt Cap1.922.247.97.66.40.37.0
P/S0.82.06.95.92.20.92.1
P/EBIT23.39.126.918.714.5-13.816.6
P/E-36.412.830.536.822.1-6.217.4
P/CFO5.211.930.621.18.015.813.9
Total Yield-2.7%7.8%4.6%2.7%4.5%-16.2%3.6%
Dividend Yield0.0%0.0%1.3%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg2.2%3.3%3.7%2.6%-3.1%4.7%3.0%
D/E1.00.10.00.30.61.30.5
Net D/E0.40.0-0.00.30.61.20.3

Returns

PTONLULUGRMNPLNTLTHXPOFMedian
NamePeloton .Lululemo.Garmin Planet F.Life TimeXponenti. 
1M Rtn-24.7%-1.3%21.7%-6.5%3.7%4.4%1.2%
3M Rtn-31.6%11.4%30.0%-17.4%12.2%40.5%11.8%
6M Rtn-44.2%-9.8%6.4%-15.7%-0.4%-5.8%-7.8%
12M Rtn-51.3%-48.8%10.4%-9.0%-11.2%-50.2%-30.0%
3Y Rtn-66.7%-40.4%181.4%18.9%60.7%-66.7%-10.7%
1M Excs Rtn-25.2%-1.8%21.2%-7.0%3.2%3.9%0.7%
3M Excs Rtn-42.4%9.8%27.3%-16.8%12.8%42.6%11.3%
6M Excs Rtn-51.0%-13.5%1.0%-23.8%-4.9%-16.6%-15.1%
12M Excs Rtn-67.4%-61.5%-7.9%-21.9%-25.3%-64.1%-43.4%
3Y Excs Rtn-134.5%-108.5%104.7%-57.9%-14.0%-133.6%-83.2%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Subscription1,7091,6701,395872364
Connected Fitness Products9921,1302,1883,1501,462
Total2,7002,8003,5824,0221,826


Price Behavior

Price Behavior
Market Price$4.41 
Market Cap ($ Bil)1.8 
First Trading Date09/26/2019 
Distance from 52W High-51.3% 
   50 Days200 Days
DMA Price$5.82$6.88
DMA Trenddowndown
Distance from DMA-24.2%-35.9%
 3M1YR
Volatility69.1%75.1%
Downside Capture394.72246.48
Upside Capture79.15141.30
Correlation (SPY)47.3%52.7%
PTON Betas & Captures as of 1/31/2026

 1M2M3M6M1Y3Y
Beta3.182.242.032.222.022.06
Up Beta2.592.71-0.251.581.791.59
Down Beta3.753.333.423.122.301.94
Up Capture145%37%106%157%253%1582%
Bmk +ve Days11223471142430
Stock +ve Days7122152106344
Down Capture435%251%247%213%153%113%
Bmk -ve Days9192754109321
Stock -ve Days11263770138395

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PTON
PTON-53.8%75.5%-0.70-
Sector ETF (XLY)4.5%24.2%0.1354.0%
Equity (SPY)13.5%19.4%0.5352.8%
Gold (GLD)74.5%25.6%2.150.2%
Commodities (DBC)7.2%16.9%0.2510.9%
Real Estate (VNQ)7.1%16.7%0.2429.1%
Bitcoin (BTCUSD)-30.6%44.9%-0.6837.6%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PTON
PTON-50.7%86.7%-0.42-
Sector ETF (XLY)7.5%23.7%0.2845.0%
Equity (SPY)13.4%17.0%0.6240.5%
Gold (GLD)22.6%17.1%1.083.8%
Commodities (DBC)10.9%19.0%0.464.4%
Real Estate (VNQ)5.0%18.8%0.1733.8%
Bitcoin (BTCUSD)7.2%57.1%0.3521.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PTON
PTON-16.0%84.0%0.06-
Sector ETF (XLY)14.3%21.9%0.6036.9%
Equity (SPY)16.1%17.9%0.7730.8%
Gold (GLD)14.8%15.6%0.796.7%
Commodities (DBC)8.6%17.6%0.404.1%
Real Estate (VNQ)7.0%20.7%0.3021.5%
Bitcoin (BTCUSD)67.8%66.7%1.0719.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date1302026
Short Interest: Shares Quantity69.0 Mil
Short Interest: % Change Since 11520266.9%
Average Daily Volume9.5 Mil
Days-to-Cover Short Interest7.3 days
Basic Shares Quantity421.3 Mil
Short % of Basic Shares16.4%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/5/2026-25.7%  
11/6/202514.2%8.9%0.9%
8/7/20250.6%23.3%13.4%
5/8/2025-6.7%-5.2%4.6%
2/6/202512.0%21.1%-18.1%
10/31/202427.8%19.2%55.5%
8/22/202435.4%34.8%45.8%
5/2/2024-2.8%22.4%13.0%
...
SUMMARY STATS   
# Positive11912
# Negative121310
Median Positive12.9%21.1%25.0%
Median Negative-12.4%-11.5%-21.5%
Max Positive35.4%34.8%55.5%
Max Negative-35.3%-41.3%-50.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/05/202610-Q
09/30/202511/06/202510-Q
06/30/202508/07/202510-K
03/31/202505/08/202510-Q
12/31/202402/06/202510-Q
09/30/202410/31/202410-Q
06/30/202408/22/202410-K
03/31/202405/02/202410-Q
12/31/202302/01/202410-Q
09/30/202311/02/202310-Q
06/30/202308/23/202310-K
03/31/202305/04/202310-Q
12/31/202202/01/202310-Q
09/30/202211/03/202210-Q
06/30/202209/07/202210-K
03/31/202205/10/202210-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Stern, Peter CPresident and CEODirectSell10520266.04124,405750,8961,910,718Form
2Caldwell, Nick VChief Product OfficerDirectSell121620256.2164,617401,3495,217,296Form
3Coddington, Elizabeth FChief Financial OfficerDirectSell121620256.3121,820137,7502,187,675Form
4Baig, SaqibChief Accounting OfficerDirectSell121020256.395,00031,9441,186,180Form
5Baig, SaqibChief Accounting OfficerDirectSell112120256.972,38716,6391,329,034Form

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