Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data PELOTON INTERACTIVE, INC. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
435
915
1,826
4,022
3,582
2,800
2,701
2,491
2,446
Cost of revenue
245
531
988
2,567
2,884
1,877
1,494
1,223
1,159
Gross profit
190
384
838
1,454
698
924
1,207
1,268
1,287
Research and development
23.4
54.8
89.1
248
360
318
305
234
243
Selling and marketing
151
324
477
728
1,019
648
659
422
400
General and administrative
62.4
207
351
662
963
798
651
527
430
Operating expenses
237
586
918
1,642
3,432
2,121
1,736
1,305
1,126
Operating income
-47.5
-202
-80.7
-188
-2,734
-1,197
-529
-36.2
161
Interest expense
1.7
2
14.8
43
97.1
113
135
124
Interest income
8.7
18.2
7.9
2.3
26.4
35.1
32.7
36.4
Other non-operating income
-0.3
6.7
12.3
-10.4
-74.1
-60.9
-23.2
-79.3
-97.6
Pre-tax income
-47.8
-196
-68.4
-198
-2,808
-1,258
-552
-116
63.1
Income tax
0.1
0.1
3.3
-9.2
19.6
3.7
-0.2
3.4
-0.1
Net income
-47.9
-196
-71.6
-189
-2,828
-1,262
-552
-119
63.2
EBITDA
-40.9
-181
-40.5
-124
-2,591
-1,073
-420
53.5
218
EPS, basic
-2.18
-10.72
-0.32
-0.64
-8.77
-3.64
-1.51
-0.30
0.15
EPS, diluted
-2.18
-10.72
-0.32
-0.64
-8.77
-3.64
-1.51
-0.30
0.14
Shares, basic (weighted)
21.9
22.9
221
294
322
347
366
390
425
Shares, diluted (weighted)
21.9
22.9
221
294
322
347
366
390
436
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
152
162
1,036
1,135
1,254
814
698
1,040
1,207
Short-term investments
216
720
472
0
Receivables
18.5
34.6
71.4
83.6
97.2
104
101
82.5
Inventory
137
245
937
1,105
523
330
206
135
Other current assets
48.4
125
203
193
205
135
91.3
64.9
Total current assets
582
2,159
2,818
2,635
1,639
1,266
1,438
1,489
Property, plant and equipment
250
242
592
611
445
354
239
165
Lease right-of-use assets
0
493
580
663
524
435
339
284
Goodwill
4.2
4.3
39.1
210
41.2
41.2
41.2
41.2
44
Intangible assets
19.5
16
248
41.3
25.6
15
5.6
11.7
Other non-current assets
8.5
31.8
36.7
34.3
22.7
21
16.8
21.4
Total assets
865
2,982
4,486
4,029
2,769
2,185
2,125
2,056
Accounts payable
92.2
136
364
93
76.5
85.4
66.7
53.5
Accrued liabilities
105
362
989
797
478
432
373
311
Deferred revenue
90.8
364
165
201
187
164
151
140
Short-term debt
0
7.5
7.5
10
209
10
Total current liabilities
291
772
1,243
1,106
761
685
804
525
Lease liabilities
0
508
620
725
594
503
408
348
Other non-current liabilities
0.4
23.4
38.3
50.7
30.1
25.7
37.2
33.7
Total liabilities
462
1,304
2,732
3,436
3,064
2,704
2,539
2,196
Total debt
0
7.5
7.5
1,549
1,539
1,330
Paid-in capital
90.7
2,362
2,619
4,291
4,620
4,949
5,184
5,385
Retained earnings
-630
-694
-883
-3,711
-4,932
-5,484
-5,603
-5,539
Other comprehensive income
0.2
10.1
18.2
12.2
16.8
15.9
5.1
15
Shareholders' equity
-316
-539
1,678
1,754
593
-295
-519
-414
-140
Total equity
-316
-539
1,678
1,754
593
-295
-519
-414
-140
Total liabilities and equity
865
2,982
4,486
4,029
2,769
2,185
2,125
2,056
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
-47.9
-196
-71.6
-189
-2,828
-1,262
-552
-119
63.2
Depreciation and amortization
6.6
21.7
40.2
63.8
143
124
109
89.7
57.2
Stock-based compensation
8.5
89.5
88.8
194
328
405
312
230
199
Deferred income tax
0
-0.3
-0.9
-21.1
4.7
-1.5
-1
0.7
-2.5
Change in receivables
-4.1
-9.1
11.3
15.1
-12.8
-13.8
-7
2.8
18.6
Change in inventory
-9.6
-111
-95.6
-587
-174
538
163
137
81.3
Change in payables
41
117
133
440
-169
-347
-95.5
-94
-71.1
Cash from operations
49.7
-109
376
-240
-2,020
-388
-66.1
333
388
Capital expenditures
-28
-83
-153
-241
-337
-82.4
-19.7
-9.3
-9.9
Acquisitions
-28.7
-0.1
-45
-478
-11
0
0
Purchases of investments
0
-250
-1,200
-449
0
0
Sales and maturities of investments
0
36
435
666
211
0
0
Cash from investing
-56.7
-298
-741
-585
153
-69.9
26.8
-5.1
-21.4
Debt issued
0
0
696
0
987
0
0
Debt repaid
-3.1
0
0
0
0
-7.5
-743
-10
-10
Stock issued
7.4
9.3
37.4
57.6
84.3
79.8
41.2
11.2
0.6
Share buybacks
0
-130
0
0
Cash from financing
3.1
417
1,240
917
2,015
76.8
-94.4
1.7
-208
Exchange rate effect
0
0.2
-1.2
6.7
-26.5
8.6
-1
5.3
3
Net change in cash
-3.9
11.3
874
98.7
122
-372
-135
335
162
Free cash flow
21.7
-192
223
-481
-2,357
-470
-85.8
324
378
Interest paid
0.3
1.1
1.9
1.3
1
79
95.6
127
122
Income taxes paid
0
0
4.1
3.5
15.2
14.9
0
2.6
5.5
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $5.73 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
54.8%
Gross profit / revenue.
Operating margin
9.6%
Operating income / revenue.
EBITDA margin
11.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
6.0%
Pre-tax income / revenue.
Net margin
5.9%
Net income / revenue.
FCF margin
18.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
18.8%
Cash from operations / revenue.
Effective tax rate
0.5%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
6.6%
Net income / average total assets.
R&D / revenue
9.7%
Research and development expense / revenue.
Stock-based pay / revenue
7.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.3%
Capital expenditures / revenue.
D&A / revenue
2.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-1.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-4.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-9.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
1.5%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
11.7%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
-2.4%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y
307.3%
EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
16.4%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
16.7%
Free cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-3.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-9.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-14.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
11.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
8.0%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
8.2%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
3.05x
Current assets / current liabilities.
Quick ratio
2.63x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.49x
(Cash + short-term investments) / current liabilities.
Debt / assets
60.6%
Total debt / total assets.
Liabilities / assets
100.2%
Total liabilities / total assets.
Net debt
-$14.7M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
-0.05x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Days inventory + days sales outstanding - days payables.
FCF conversion
311.8%
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
1.7%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.28
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$4.67
Revenue / diluted weighted shares.
FCF per share
$0.86
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.88
Cash from operations / diluted weighted shares.
Book value per share
-$0.01
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
17.3x
Market cap / net income. Only when net income is positive.
P/S
1.02x
Market cap / revenue.
P/FCF
5.54x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
5.45x
Market cap / cash from operations, when positive.
EV/Sales
1.02x
Enterprise value / revenue.
EV/EBIT
10.6x
Enterprise value / operating income, when both are positive.
EV/EBITDA
8.70x
Enterprise value / EBITDA, when both are positive.
EV/FCF
5.51x
Enterprise value / free cash flow, when both are positive.
FCF yield
18.0%
Free cash flow / market cap.
Earnings yield
5.8%
Net income / market cap (the inverse of P/E).
What was PELOTON INTERACTIVE, INC.'s revenue in fiscal 2026?
PELOTON INTERACTIVE, INC. reported revenue of $2.45B for fiscal 2026, 1.8% lower than the year before.
Was PELOTON INTERACTIVE, INC. profitable in fiscal 2026?
Yes. Net income was $63.2M, a net margin of 2.6%.
How much free cash flow did PELOTON INTERACTIVE, INC. generate in fiscal 2026?
Cash from operations of $387.6M minus capital expenditures of $9.9M left free cash flow of $377.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.