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Insufficient data to determine institutional momentum.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 16 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMCR | $21.9B | 19.9× | 10.3× | 0.9× | 56.6% | 20.0% | 4.7% | 9.4% | 4.3% | 3.8× | — |
| HAS | $16.8B | — | 136.8× | 3.1× | 13.1% | 75.8% | -6.0% | -57.0% | -8.4% | — | 207 |
| GOLF | $5.0B | 27.4× | 16.7× | 1.9× | 4.1% | 47.7% | 7.4% | 24.1% | 10.9% | 2.7× | 66 |
| MAT | $4.4B | 12.4× | 7.7× | 0.8× | -0.6% | 48.7% | 7.4% | 17.8% | 8.7% | 1.5× | 84 |
| BRC | $3.9B | — | 12.0× | 2.3× | 9.8% | 51.7% | 12.4% | 15.1% | 15.0% | -0.6× | 65 |
| YETI | $3.2B | 21.5× | 12.2× | 1.7× | 2.1% | 57.4% | 8.9% | 25.4% | 22.9% | 0.3× | 102 |
| CALY | $2.7B | — | 14.3× | 1.3× | -0.8% | 42.1% | -19.9% | -19.8% | -14.8% | -1.2× | 66 |
| PTON | $2.2B | 36.6× | 10.9× | 0.9× | -1.8% | 52.6% | 2.6% | -45.2% | 5.3% | 0.6× | 90 |
| ODC | $1.0B | — | 10.7× | 2.1× | 1.7% | 27.8% | 11.5% | 19.1% | 19.1% | -0.8× | 26 |
| DAKT | $907M | 20.5× | 9.8× | 1.1× | 10.9% | 27.3% | 5.4% | 15.1% | 14.6% | -1.5× | 31 |
| JOUT | $479M | — | 78.4× | 0.8× | -0.1% | 35.1% | -5.8% | -8.2% | -8.2% | — | 28 |
| JAKK | $362M | 36.5× | 12.7× | 3.2× | -83.6% | — | 8.7% | 4.0% | 4.0% | -2.1× | 15 |
| FNKO | $357M | — | 39.8× | 0.4× | -13.5% | — | -7.4% | -36.3% | -16.4% | 13.5× | 16 |
| ESCA | $271M | 19.9× | 12.2× | 1.1× | -4.5% | 26.9% | 5.7% | 7.9% | 7.1% | 0.8× | 18 |
| AOUT | $229M | — | 60.3× | 1.2× | -14.3% | 44.7% | -4.8% | -5.6% | -5.6% | -6.2× | 11 |
| TOYO | $194M | 4.0× | 1.8× | 0.5× | 142% | 22.5% | 9.3% | 35.6% | 27.9% | -0.2× | — |
| CLAR | $170M | — | — | 0.7× | -5.2% | 33.1% | -18.6% | -23.7% | -23.7% | — | 12 |
Peers = companies sharing PTON's sector (Sporting & Athletic Goods, NEC) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The same 2 years as the 3-yr average, with the stock compensation of those years charged as a cost. Shares issued to employees are real dilution, so this asks what the business generates for existing holders.
To be worth $5.12 today, the market must believe free cash flow compounds 12.0%/yr for a decade (off $136.6M on the SBC-adjusted basis).
On the basis ($350.7M) the requirement is -2.5%/yr. The difference is what charging stock compensation costs.
The market's 12.0% is more conservative than its 8-yr track record.
Default is 13.5% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.44B shares (market data) · net debt $133.4M
mean -913.5% · volatility σ 1191% · implied rate exceeded in 1/3 yrs
Central path = implied 12.0%/yr growth; shaded band = ±1σ (1191%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $377.7M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 9 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 5%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.21B covers the $10.0M due within a year 120.7× over. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~9.2% on $1.34B of debt.
Cash of $1.21B fully covers short-term debt of $10.0M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.45B 100.0% | $2.49B 100.0% | $2.70B 100.0% | $2.80B 100.0% | $3.58B 100.0% | $4.02B 100.0% | $1.83B 100.0% | $915.0M 100.0% | $435.0M 100.0% |
| Cost of Revenue | $1.16B 47.4% | $1.22B 49.1% | $1.49B 55.3% | $1.88B 67.0% | $2.88B 80.5% | $2.57B 63.8% | $988.2M 54.1% | $531.4M 58.1% | $245.4M 56.4% |
| Gross Profit | $1.29B 52.6% | $1.27B 50.9% | $1.21B 44.7% | $923.5M 33.0% | $698.4M 19.5% | $1.45B 36.2% | $837.7M 45.9% | $383.6M 41.9% | $189.6M 43.6% |
| Research & Development | $242.8M 9.9% | $234.2M 9.4% | $304.8M 11.3% | $318.4M 11.4% | $359.5M 10.0% | $247.6M 6.2% | $89.1M 4.9% | $54.8M 6.0% | $23.4M 5.4% |
| Selling, General & Admin | $430.3M 17.6% | $527.3M 21.2% | $651.0M 24.1% | $798.1M 28.5% | $963.4M 26.9% | $661.8M 16.5% | $351.4M 19.2% | $207.0M 22.6% | $62.4M 14.3% |
| Total Operating Expenses | $1.13B 46.0% | $1.30B 52.4% | $1.74B 64.3% | $2.12B 75.7% | $3.43B 95.8% | $1.64B 40.8% | $918.4M 50.3% | $585.8M 64.0% | $237.1M 54.5% |
| Operating Income | $160.7M 6.6% | -$36.2M -1.5% | -$529.0M -19.6% | -$1.20B -42.8% | -$2.73B -76.3% | -$187.8M -4.7% | -$80.7M -4.4% | -$202.3M -22.1% | -$47.5M -10.9% |
| Interest Expense | $123.8M 5.1% | $134.5M 5.4% | $112.5M 4.2% | $97.1M 3.5% | $43.0M 1.2% | $14.8M 0.4% | $2.0M 0.1% | $1.7M 0.2% | — |
| Interest & Investment Income | $36.4M 1.5% | $32.7M 1.3% | $35.1M 1.3% | $26.4M 0.9% | $2.3M 0.1% | $7.9M 0.2% | $18.2M 1.0% | $8.7M 1.0% | — |
| Other Income (Expense), net | -$97.6M -4.0% | -$79.3M -3.2% | -$23.2M -0.9% | -$60.9M -2.2% | -$74.1M -2.1% | -$10.4M -0.3% | $12.3M 0.7% | $6.7M 0.7% | -$300K -0.1% |
| Pretax Income | $63.1M 2.6% | -$115.6M -4.6% | -$552.1M -20.4% | -$1.26B -44.9% | -$2.81B -78.4% | -$198.2M -4.9% | -$68.4M -3.7% | -$195.6M -21.4% | -$47.8M -11.0% |
| Income Tax Expense | -$100K -0.0% | $3.4M 0.1% | -$200K -0.0% | $3.7M 0.1% | $19.6M 0.5% | -$9.2M -0.2% | $3.3M 0.2% | $100K 0.0% | $100K 0.0% |
| Net Income | $63.2M 2.6% | -$118.9M -4.8% | -$551.9M -20.4% | -$1.26B -45.1% | -$2.83B -78.9% | -$189.0M -4.7% | -$71.6M -3.9% | -$195.6M -21.4% | -$47.9M -11.0% |
| Per Share | |||||||||
| EPS (Basic) | $0.15 | -$0.30 | -$1.51 | -$3.64 | -$8.77 | -$0.64 | -$0.32 | -$10.72 | — |
| EPS (Diluted) | $0.14 | -$0.30 | -$1.51 | -$3.64 | -$8.77 | -$0.64 | -$0.32 | -$10.72 | — |
| Weighted Avg Shares (Basic) | 424.7M | 390.0M | 365.5M | 346.7M | 322.4M | 293.9M | 221.0M | 22.9M | — |
| Weighted Avg Shares (Diluted) | 436.2M | 390.0M | 365.5M | 346.7M | 322.4M | 293.9M | 221.0M | 22.9M | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-30
Where each multiple sits in its own 7-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-yr history.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE -45% against ROIC 5% — -51% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 302.4× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 58.1 | 54.1 | 63.8 | 80.5 | 67.0 | 55.3 | 49.1 | 47.4 |
| Gross Profit | 41.9 | 45.9 | 36.2 | 19.5 | 33.0 | 44.7 | 50.9 | 52.6 |
| R&D | 6.0 | 4.9 | 6.2 | 10.0 | 11.4 | 11.3 | 9.4 | 9.9 |
| SG&A | 22.6 | 19.2 | 16.5 | 26.9 | 28.5 | 24.1 | 21.2 | 17.6 |
| Operating Income | -22.1 | -4.4 | -4.7 | -76.3 | -42.8 | -19.6 | -1.5 | 6.6 |
| Income Tax | 0.0 | 0.2 | -0.2 | 0.5 | 0.1 | -0.0 | 0.1 | -0.0 |
| Net Income | -21.4 | -3.9 | -4.7 | -78.9 | -45.1 | -20.4 | -4.8 | 2.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PTON: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 11.07pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2020 | -6.6% | 13.5% (today's — no rate published for this year) | -20.1pts |
| FY2021 | -13.6% | 13.5% (today's — no rate published for this year) | -27.1pts |
| FY2022 | -1189.0% | 10.4% | -1199.4pts |
| FY2024 | -54.3% | 14.7% | -68.9pts |
| FY2025 | -4.4% | 13.4% | -17.8pts |
| FY2026 | 35.5% | 13.4% | 22.1pts |
| Now | 5.3% | 13.5% | -8.3pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2018 | 43.6% | -10.9% | -11.0% |
| FY2019 | 41.9% | -22.1% | -21.4% |
| FY2020 | 45.9% | -4.4% | -3.9% |
| FY2021 | 36.2% | -4.7% | -4.7% |
| FY2022 | 19.5% | -76.3% | -78.9% |
| FY2023 | 33.0% | -42.8% | -45.1% |
| FY2024 | 44.7% | -19.6% | -20.4% |
| FY2025 | 50.9% | -1.5% | -4.8% |
| FY2026 | 52.6% | 6.6% | 2.6% |
$44M of goodwill — 7% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
The spread was positive in only 1 of the last 5 years.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Stressed coverage falls to 0.9x — below the level at which interest is reliably covered.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 1.30x |
| 5% | 1.23x |
| 10% | 1.17x |
| 15% | 1.10x |
| 20% | 1.04x |
| 25% | 0.97x |
| 30% | 0.91x |
| 35% | 0.84x |
| 40% | 0.78x |
| 45% | 0.71x |
| 50% | 0.65x |
| 55% | 0.58x |
| 60% | 0.52x |
Ladder as of 2026-06-30 (10-K); cash from the 2026-06-30 balance sheet; FCF from FY2026.
Balance sheet at 2026-06-30. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
At $5.12, free cash flow must compound 14.36%/yr for 10 years. It has done 4.88%/yr over 6 years after stock compensation.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | −601.3% | 14.4% |
| FY2026 | 90.3% | 14.4% |
This is solved on free cash flow AFTER stock compensation ($137M against $351M before it). On the unadjusted figure the requirement would be 0.05%/yr. Which is right depends on whether you think the share issuance is a recurring cost of running the business.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-20 | Baig Saqib Chief Accounting Officer | 10b5-1 plan sale | 10,000 | $5.45 | $55k |
| 2026-10-15 | 3 co-filers Chief Operating Officer | Option exercise | 56,510 | — | — |
| 2026-10-15 | 3 co-filers Chief Operating Officer | Exercise & sell | 28,849 | $5.33 | $154k |
| 2026-10-15 | 3 co-filers Chief Operating Officer | Option exercise |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 56,510 |
| $0.00 |
| — |
| 2026-09-15 | 3 co-filers President and CEO | Option exercise | 196,328 | — | — |
| 2026-09-15 | 3 co-filers Chief Product Officer | Option exercise | 115,741 | — | — |
| 2026-09-15 | 3 co-filers President and CEO | Tax withholding | 100,226 | $4.85 | $486k |
| 2026-09-15 | 3 co-filers Chief Product Officer | Tax withholding | 61,969 | $4.85 | $301k |
| 2026-09-15 | 3 co-filers President and CEO | Option exercise | 196,328 | $0.00 | — |
| 2026-09-15 | 3 co-filers Chief Product Officer | Option exercise | 115,741 | $0.00 | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 8,458 | — | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 9,022 | — | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 8,458 | — | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 9,022 | — | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 9,022 | — | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 8,458 | $0.00 | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 8,458 | $0.00 | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 9,022 | $0.00 | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 9,022 | $0.00 | — |
| 2026-09-09 | 2 co-filers Group filing | Option exercise | 9,022 | $0.00 | — |
| 2026-09-07 | 3 co-filers Chief Operating Officer | Grant | 164,175 | $0.00 | — |
| 2026-09-07 | 3 co-filers Chief Accounting Officer | Grant | 72,967 | $0.00 | — |
| 2026-09-07 | Caldwell Nick V. Chief Product Officer | Grant | 273,623 | $0.00 | — |
| 2026-09-07 | Sanders Dion C. Chief Commercial Officer | Grant | 273,623 | $0.00 | — |
| 2026-09-07 | 3 co-filers President and CEO | Grant | 196,328 | $0.00 | — |
| 2026-09-07 | 3 co-filers President and CEO | Grant | 664,015 | $0.00 | — |
| 2026-09-07 | 3 co-filers Chief Accounting Officer | Grant | 180,723 | $0.00 | — |
| 2026-09-07 | 3 co-filers Chief Operating Officer | Grant | 228,019 | $0.00 | — |
| 2026-09-07 | 3 co-filers President and CEO | Grant | 1,290,878 | $0.00 | — |
| 2026-09-07 | 3 co-filers Chief Accounting Officer | Grant | 86,059 | $0.00 | — |
| 2026-09-07 | 3 co-filers Chief Operating Officer | Grant | 206,693 | $0.00 | — |
| 2026-08-19 | Sanders Dion C. Chief Commercial Officer | 10b5-1 plan sale | 112,512 | $5.45 | $613k |
| 2026-08-19 | Baig Saqib Chief Accounting Officer | 10b5-1 plan sale | 4,912 | $5.45 | $27k |
| 2026-08-18 | 2 co-filers Chief Financial Officer | Grant | 883,839 | $0.00 | — |
| 2026-08-18 | 2 co-filers Chief Financial Officer | Grant | 84,176 | $0.00 | — |
| 2026-08-17 | Boone Karen Director | 10b5-1 plan sale | 25,000 | $5.35 | $134k |
| 2026-08-17 | 3 co-filers Chief Operating Officer | Tax withholding | 8,794 | $5.63 | $50k |
| 2026-08-17 | 3 co-filers President and CEO | Tax withholding | 30,484 | $5.63 | $172k |
| 2026-08-17 | 5 co-filers Chief Product Officer | Tax withholding | 87,159 | $5.63 | $491k |
| 2026-08-17 | 11 co-filers Chief Accounting Officer | Open-market sale | 36,439 | $5.36 | $195k |