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Peloton Interactive (NAS:PTON) Piotroski F-Score

: 1 (As of Today)
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Warning Sign:

Piotroski F-Score of 1 is low, which usually implies poor business operation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Peloton Interactive has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Peloton Interactive's Piotroski F-Score or its related term are showing as below:

PTON' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 2   Max: 5
Current: 1

During the past 6 years, the highest Piotroski F-Score of Peloton Interactive was 5. The lowest was 1. And the median was 2.


Peloton Interactive Piotroski F-Score Historical Data

The historical data trend for Peloton Interactive's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Peloton Interactive Annual Data
Trend Jun17 Jun18 Jun19 Jun20 Jun21 Jun22
Piotroski F-Score
Premium Member Only N/A N/A 5.00 1.00 2.00

Peloton Interactive Quarterly Data
Jun17 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 1.00 2.00 2.00 1.00

Competitive Comparison

For the Leisure subindustry, Peloton Interactive's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Peloton Interactive Piotroski F-Score Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Peloton Interactive's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Peloton Interactive's Piotroski F-Score falls in comparison to its industry or sector. The grey bar indicates the Piotroski F-Score's extreme value range as defined by GuruFocus.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec22) TTM:Last Year (Dec21) TTM:
Net Income was -757.1 + -1255.3 + -408.5 + -335.4 = $-2,756 Mil.
Cash Flow from Operations was -670.2 + -342.2 + -202.8 + -88.5 = $-1,304 Mil.
Revenue was 964.3 + 678.7 + 616.5 + 792.7 = $3,052 Mil.
Gross Profit was 184.2 + -29.8 + 217.2 + 235 = $607 Mil.
Average Total Assets from the begining of this year (Dec21)
to the end of this year (Dec22) was
(5482.5 + 4414.8 + 4028.5 + 3592.5 + 3301.1) / 5 = $4163.88 Mil.
Total Assets at the begining of this year (Dec21) was $5,483 Mil.
Long-Term Debt & Capital Lease Obligation was $2,323 Mil.
Total Current Assets was $2,058 Mil.
Total Current Liabilities was $903 Mil.
Net Income was -8.6 + -313.2 + -376 + -439.4 = $-1,137 Mil.

Revenue was 1262.3 + 936.8 + 805.1 + 1133.9 = $4,138 Mil.
Gross Profit was 444.9 + 256 + 263 + 281 = $1,245 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec21) was
(3910.5 + 4712.4 + 4485.6 + 4414.5 + 5482.5) / 5 = $4601.1 Mil.
Total Assets at the begining of last year (Dec20) was $3,911 Mil.
Long-Term Debt & Capital Lease Obligation was $1,590 Mil.
Total Current Assets was $3,457 Mil.
Total Current Liabilities was $1,482 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Peloton Interactive's current Net Income (TTM) was -2,756. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Peloton Interactive's current Cash Flow from Operations (TTM) was -1,304. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec21)
=-2756.3/5482.5
=-0.5027451

ROA (Last Year)=Net Income/Total Assets (Dec20)
=-1137.2/3910.5
=-0.2908068

Peloton Interactive's return on assets of this year was -0.5027451. Peloton Interactive's return on assets of last year was -0.2908068. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Peloton Interactive's current Net Income (TTM) was -2,756. Peloton Interactive's current Cash Flow from Operations (TTM) was -1,304. ==> -1,304 > -2,756 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=2323.3/4163.88
=0.55796517

Gearing (Last Year: Dec21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec21
=1590.4/4601.1
=0.34565647

Peloton Interactive's gearing of this year was 0.55796517. Peloton Interactive's gearing of last year was 0.34565647. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec22)=Total Current Assets/Total Current Liabilities
=2058.3/903.2
=2.27889725

Current Ratio (Last Year: Dec21)=Total Current Assets/Total Current Liabilities
=3456.6/1481.7
=2.3328609

Peloton Interactive's current ratio of this year was 2.27889725. Peloton Interactive's current ratio of last year was 2.3328609. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Peloton Interactive's number of shares in issue this year was 341.931. Peloton Interactive's number of shares in issue last year was 317.11. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=606.6/3052.2
=0.19874189

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1244.9/4138.1
=0.30083855

Peloton Interactive's gross margin of this year was 0.19874189. Peloton Interactive's gross margin of last year was 0.30083855. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec21)
=3052.2/5482.5
=0.55671683

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=4138.1/3910.5
=1.05820228

Peloton Interactive's asset turnover of this year was 0.55671683. Peloton Interactive's asset turnover of last year was 1.05820228. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+0+0+0+0+0
=1

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Peloton Interactive has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

Peloton Interactive  (NAS:PTON) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Peloton Interactive Piotroski F-Score Related Terms

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Peloton Interactive (NAS:PTON) Business Description

Peloton Interactive logo
Traded in Other Exchanges
Address
441 Ninth Avenue, Sixth Floor, New York, NY, USA, 10001
Peloton Interactive Inc operates an interactive fitness platform. It operates its business in two reportable segments: Connected Fitness Products and Subscription. Connected Fitness Product revenue consists of sales of bike and tread and related accessories, associated fees for delivery and installation, and extended warranty agreements. Subscription revenue consists of revenue generated from monthly Connected Fitness Subscription and Digital Subscription. The company generates the majority of the revenue from the sale of Connected Fitness Products.
Executives
Saqib Baig officer: Chief Accounting Officer C/O PELOTON INTERACTIVE, INC., 441 NINTH AVENUE, SIXTH FLOOR, NEW YORK NY 10001
Jennifer Cunningham Cotter officer: Chief Content Officer C/O PELOTON INTERACTIVE, INC., 441 NINTH AVENUE, SIXTH FLOOR, NEW YORK NY 10001
Elizabeth F Coddington officer: Chief Financial Officer C/O PELOTON INTERACTIVE, INC., 441 NINTH AVENUE, SIXTH FLOOR, NEW YORK NY 10001
Andrew S Rendich officer: Chief Supply Chain Officer 100 WINCHESTER CIRCLE, LOS GATOS CA 95032
Barry Mccarthy director, officer: CEO and President 100 WINCHESTER CIRCLE, LOS GATOS CA 95032
Jonathan Mildenhall director C/O GRAUBARD MILLER, 405 LEXINGTON AVENUE, NEW YORK NY 10174
Angel L Mendez director C/O SLEEP NUMBER CORPORATION, 1001 THIRD AVENUE SOUTH, MINNEAPOLIS MN 55404
Jay C Hoag director 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Kevin Cornils officer: Chief Commercial Officer C/O PELOTON INTERACTIVE, INC., 441 NINTH AVENUE, SIXTH FLOOR, NEW YORK NY 10001
Tcv Ix (a), L.p. other: May be part of 13(d) group 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Tcv X (a), L.p. other: May be part of 13(d) group 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Tcv X Cycle (mf), L.p. other: May be part of 13(d) group 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Tcv Ix, L.p. 10 percent owner, other: May be part of 13(d) group 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Tcv Ix Cycle, L.p. 10 percent owner, other: May be part of 13(d) group 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Technology Crossover Management X, Ltd. other: May be part of 13(d) group C/O TECHNOLOGY CROSSOVER VENTURES, 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025

Peloton Interactive (NAS:PTON) Headlines

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