Peloton (PTON)
Combines connected cardio equipment, instructor-led classes, and recurring memberships.
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Sells connected Bikes, Treads, and rowing machines, Precor commercial equipment, and app access, pairing them with instructor-led content and personalization. Monthly Connected Fitness and app memberships generate most revenue, while the business remains U.S.-concentrated and dependent on hardware adoption and recurring engagement.
Pairs Connected Fitness Products—Bike, Bike+, Tread, Tread+, and Row+—with live and on-demand instructor-led classes, performance tracking, Peloton IQ personalization, and monthly memberships. Cross Training models serve consumers, while Peloton Pro and Precor cardio, strength, connected-fitness, and wellness equipment serve commercial customers.
Two reporting segments separate recurring Subscription revenue from Connected Fitness Products, which includes hardware, accessories, rentals, warranties, delivery, apparel, commercial equipment, and service contracts. The operating model integrates equipment design, networked software, studio production, human coaching, and community features.
Revenue remains concentrated in the United States, with consumer memberships also offered in the United Kingdom, Canada, Germany, Australia, and Austria. Operations rely on a limited set of suppliers, contract manufacturers, logistics partners, third-party music licenses, recurring member engagement, and compliance with product-safety, privacy, consumer-protection, and trade rules.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 8, 2026 | UBS | Reiterate | Rating: —Target: $4.50 | Target: $10 |
| Sep 8, 2026 | Morgan Stanley | Downgrade | ||
| May 8, 2026 | Robert W. Baird | Target | Target: $5.50 | Target: $6 |
| Feb 6, 2026 | Robert W. Baird | Target | Target: $4.75 | Target: $5.50 |
| Feb 6, 2026 | UBS | Target | Target: $11 | Target: $6 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $49.8M · Total debt $1.71B · Total assets $2.06B · Shareholders' equity −$139.7M
- Revenue
- $607.7M
- Operating income
- $81.1M
- Net income
- $61.6M
No dividends on record.
| Institutions | 92.11% | 404.24M shares | |
|---|---|---|---|
| 500 holders · as of Jun 30, 2026 | |||
| Insiders | 0.64% | 2.81M shares | |
| 14 holders · as of Sep 17, 2026 | |||
| Other | 7.25% | 31.82M shares | |
| remainder | |||
438.87M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.82% | 65.03M A | as of Jun 30, 2026 |
DNB Asset Management AsInstitution | 8.68% | 38.12M A | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.52% | 24.24M A | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.28% | 18.77M A | as of Jun 30, 2026 |
D. E. Shaw & Co., Inc.Institution | 3.88% | 17.05M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Dion C. Sanders | officer: Chief Commercial Officer | −112,512 | $5.45 |
| Aug 19, 2026 | Saqib Baig | officer: Chief Accounting Officer | −4,912 | $5.45 |
| Aug 17, 2026 | Saqib Baig | officer: Chief Accounting Officer | −36,439 | $5.36 |
| Aug 17, 2026 | Karen Boone | director | −25,000 | $5.35 |
| Jul 20, 2026 | Charles Peter Kirol | officer: Chief Operating Officer | −3,198 | $6.49 |
- Apple
Digital fitness service rival through Fitness+ and Apple devices
- Garmin
Fitness wearables and Tacx training hardware overlap
- Planet Fitness
Low-cost club network competing for fitness spend
- Life Time Group
Premium clubs and digital wellness ecosystem overlap
- Xponential Fitness
Boutique studio brands contest instructor-led classes
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Peloton | $5.02 | 0.00% | $2.06B | 38.0 | 14.5 | 0.8 | +0.1% |
| Apple | $340.00 | +0.06% | $4.98T | 38.8 | 36.6 | 10.7 | +16.4% |
| Garmin | $284.67 | +0.02% | $54.04B | 28.9 | 27.7 | 7.0 | +11.4% |
| Planet Fitness | $42.50 | −0.28% | $3.74B | 15.9 | 12.4 | 2.7 | +7.1% |
| Life Time Group | $38.19 | −0.08% | $8.92B | 21.9 | 22.1 | 2.8 | +13.7% |
| Xponential Fitness | $4.00 | 0.00% | $144.8M | — | 8.1 | 0.5 | −13.4% |
| Median | 25.4 | 22.1 | 2.8 | +11.4% |