Peloton Interactive, Inc.
PTON Consumer Cyclical Leisure
Peloton Interactive, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $2.4 billion, down 1.80% from fiscal 2025. In the quarter to June 2026, revenue was flat, EPS grew 180.0%, free cash flow fell 21.0% and total debt fell 13.3%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Peloton Interactive, Inc. (PTON) Altman Z-score
Peloton Interactive, Inc.'s Altman Z-score for fiscal 2026 is −1.08, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | −1.08 | 0.50 |
| FY2025 | −1.58 | 0.91 |
| FY2024 | −2.48 | (0.48) |
| FY2023 | −2.01 | (0.34) |
| FY2022 | −1.67 | (10.58) |
| FY2021 | 8.91 | 2.28 |
| FY2020 | 6.63 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.47 | — | 0.56 | |
| Retained earnings / total assets | (2.69) | — | −3.77 | |
| EBIT / total assets | 0.08 | — | 0.26 | |
| Market value of equity / total liabilities | 1.14 | — | 0.69 | |
| Sales / total assets | 1.19 | — | 1.19 | |
| Altman Z-score | Distress zone | −1.08 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −5.25 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| OSW OneSpaWorld Holdings Limited compare | 9.2× |
| YETI YETI Holdings, Inc. compare | 6.9× |
| GOLF Acushnet compare | 3.8× |
| MAT Mattel, Inc. compare | 3.1× |
| PLNT Planet Fitness, Inc. compare | 2.0× |
| PRKS United Parks & Resorts Inc. compare | 1.9× |
| CALY Callaway Golf Company compare | 0.7× |
| FUN Six Flags Entertainment Corporation compare | −0.4× |
| PTON Peloton Interactive, Inc. | −1.1× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets