Latest Ratios: P/E Ratio -19.4x · EV/EBITDA 62.1x · ROE N/A. (2017–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.4B | $2.7B | $1.2B | $2.7B | $3.0B | $36.4B | $12.8B | — | — | — |
| Enterprise Value | $3.3B | $3.6B | $2.6B | $4.2B | $4.1B | $36.8B | $12.3B | — | — | — |
| P/E Ratio → | -19.40 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.96 | 1.09 | 0.46 | 0.95 | 0.83 | 9.06 | 6.99 | — | — | — |
| P/B Ratio | — | — | — | — | 4.99 | 20.78 | 7.61 | — | — | — |
| P/FCF | 7.37 | 8.36 | — | — | — | — | 58.02 | — | — | — |
| P/OCF | 7.16 | 8.13 | — | — | — | — | 33.91 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.46 | 0.97 | 1.51 | 1.14 | 9.16 | 6.72 | — | — | — |
| EV / EBITDA | 62.08 | 68.11 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | 192.80 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 11.26 | — | — | — | — | 55.79 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.9% | 50.9% | 44.7% | 33.1% | 19.5% | 36.2% | 45.9% | 41.9% | 43.6% | 33.8% |
| Operating Margin | -1.5% | -1.5% | -19.6% | -42.8% | -76.3% | -4.7% | -4.4% | -22.1% | -10.9% | -32.3% |
| Net Profit Margin | -4.8% | -4.8% | -20.4% | -45.1% | -78.9% | -4.7% | -3.9% | -21.4% | -11.0% | -32.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | -847.6% | -241.0% | -11.0% | -6.9% | -449.9% | — | -57.1% |
| ROA | -5.5% | -5.5% | -22.3% | -37.1% | -66.4% | -5.1% | -3.7% | -34.4% | -20.4% | -35.8% |
| ROIC | -3.9% | -3.9% | -37.5% | -60.5% | -106.7% | -8.5% | -7.7% | -39.1% | — | — |
| ROCE | -2.6% | -2.6% | -30.2% | -48.6% | -88.7% | -6.9% | -5.8% | -59.9% | -40.2% | -52.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 4.00 | 0.86 | 0.32 | 0.37 | — | 0.02 |
| Debt / EBITDA | 36.95 | 36.95 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | 1.89 | 0.22 | -0.29 | -0.04 | — | -1.22 |
| Net Debt / EBITDA | 17.52 | 17.52 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 2.89 | — | — | — | — | -2.23 | — | -6.94 | — |
| Interest Coverage | 0.14 | 0.14 | -3.52 | -7.57 | -64.30 | -12.39 | -33.20 | -114.06 | -158.33 | -235.67 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.79 | 1.79 | 1.85 | 2.15 | 2.38 | 2.27 | 2.80 | 2.00 | 1.20 | 2.85 |
| Quick Ratio | 1.53 | 1.53 | 1.37 | 1.47 | 1.38 | 1.51 | 2.48 | 1.53 | 1.05 | 2.60 |
| Cash Ratio | 1.29 | 1.29 | 1.02 | 1.07 | 1.13 | 1.29 | 2.27 | 1.30 | 0.88 | 2.44 |
| Asset Turnover | — | 1.17 | 1.24 | 1.01 | 0.89 | 0.90 | 0.61 | 1.06 | 1.60 | 1.10 |
| Inventory Turnover | 5.95 | 5.95 | 4.53 | 3.58 | 2.61 | 2.74 | 4.04 | 3.89 | 9.70 | 9.22 |
| Days Sales Outstanding | — | 14.83 | 14.00 | 12.67 | 8.52 | 6.48 | 6.92 | 7.38 | 7.89 | 6.34 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 13.6% | 12.0% | — | — | — | — | 1.7% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — | — |
| Shares Outstanding | — | $390M | $366M | $347M | $322M | $294M | $221M | $278M | $234M | $234M |
Hardware demand and churn
According to current market data, Peloton trades at a forward P/E of 42.88 and an EV/EBITDA of 61.31, suggesting that investors are pricing in a significant turnaround rather than current operational realities, as the company struggles to justify these multiples amidst persistent top-line contraction.
The elevated forward P/E ratio implies that the market is banking on a rapid expansion of earnings that has yet to materialize in the core business. Compared to peers like Lululemon, which command premium valuations based on consistent growth, Peloton's current pricing appears to reflect a high-risk turnaround play where any failure to meet subscription growth targets could lead to significant multiple compression.
Based on reported figures, Peloton's ROIC has fluctuated wildly from a low of -12.0% in 2024Q2 to a recent peak of 19.8% in 2026Q3, indicating that the company's ability to generate returns on invested capital is currently driven more by aggressive cost-cutting than by sustainable business compounding.
The recent spike in ROIC is likely an artifact of reduced capital expenditure and asset base downsizing rather than improved operational efficiency. Investors should monitor whether this trend can persist without a corresponding increase in high-margin subscription revenue, as the current return profile remains highly sensitive to non-recurring restructuring impacts.
As reported in financial statements, the company's Days Inventory Outstanding (DIO) has compressed from 98 days in 2024Q2 to 62 days in 2026Q3, signaling a more disciplined approach to managing hardware inventory levels and reducing the risk of future obsolescence write-downs.
The reduction in DIO suggests that the shift toward third-party manufacturing and retail partnerships is successfully preventing the inventory bloat that plagued the company during the post-pandemic period. However, the lack of consistent data on Days Payable Outstanding warrants caution, as it remains unclear if this efficiency is being achieved at the expense of supplier relationships.
The Price-to-Sales (P/S) ratio of 0.94 is frequently misapplied to Peloton, as it obscures the fundamental shift in revenue mix from low-margin hardware to high-margin subscriptions, potentially leading analysts to undervalue the company's long-term recurring revenue potential during periods of hardware-driven top-line decline.
Relying on P/S ignores the fact that a dollar of subscription revenue is significantly more valuable than a dollar of hardware revenue due to the differing margin profiles and customer lifetime values. A more appropriate metric would be an EV/Subscriber or a contribution-margin-adjusted valuation, which would better capture the underlying health of the recurring revenue base.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying PTON stock.
Peloton Interactive, Inc.'s current P/E ratio is -19.4x. This places it at the 50th percentile of its historical range.
Peloton Interactive, Inc.'s current EV/EBITDA is 62.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 68.1x.
Based on historical data, Peloton Interactive, Inc. is trading at a P/E of -19.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Peloton Interactive, Inc. has 50.9% gross margin and -1.5% operating margin.
Peloton Interactive, Inc.'s Debt/EBITDA ratio is 36.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.