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Side-by-side financial comparison of PELOTON INTERACTIVE, INC. (PTON) and Qnity Electronics, Inc. (Q). Click either name above to swap in a different company.
Qnity Electronics, Inc. is the larger business by last-quarter revenue ($1.3B vs $656.5M, roughly 1.9× PELOTON INTERACTIVE, INC.). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs -5.9%, a 22.4% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (11.1% vs -2.6%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $71.0M).
Peloton Interactive, Inc. is an American exercise equipment and media company based in New York City. The company's products include stationary bicycles, treadmills, and indoor rowers equipped with Internet-connected touch screens that stream live and on-demand fitness classes through a subscription service. The equipment includes built-in sensors that track metrics such as power output, providing users with real-time feedback on their performance and leaderboard rankings to compete with othe...
PTON vs Q — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $656.5M | $1.3B |
| Net Profit | $-38.8M | $211.0M |
| Gross Margin | 50.5% | 45.1% |
| Operating Margin | -2.2% | 21.3% |
| Net Margin | -5.9% | 16.5% |
| Revenue YoY | -2.6% | 11.1% |
| Net Profit YoY | 57.8% | 6.0% |
| EPS (diluted) | $-0.09 | $1.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $656.5M | — | ||
| Q3 25 | $550.8M | $1.3B | ||
| Q3 24 | — | $1.1B |
| Q4 25 | $-38.8M | — | ||
| Q3 25 | $13.9M | $211.0M | ||
| Q3 24 | — | $199.0M |
| Q4 25 | 50.5% | — | ||
| Q3 25 | 51.5% | 45.1% | ||
| Q3 24 | — | 47.0% |
| Q4 25 | -2.2% | — | ||
| Q3 25 | 7.5% | 21.3% | ||
| Q3 24 | — | 21.8% |
| Q4 25 | -5.9% | — | ||
| Q3 25 | 2.5% | 16.5% | ||
| Q3 24 | — | 17.3% |
| Q4 25 | $-0.09 | — | ||
| Q3 25 | $0.03 | $1.01 | ||
| Q3 24 | — | $0.95 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | $128.0M |
| Total DebtLower is stronger | $1.5B | $1.7B |
| Stockholders' EquityBook value | $-326.7M | $9.1B |
| Total Assets | $2.2B | $12.5B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.1B | $128.0M | ||
| Q3 24 | — | — |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q3 24 | — | — |
| Q4 25 | $-326.7M | — | ||
| Q3 25 | $-347.0M | $9.1B | ||
| Q3 24 | — | $11.1B |
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | $12.5B | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.19× | ||
| Q3 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $71.9M | $782.0M |
| Free Cash FlowOCF − Capex | $71.0M | $568.0M |
| FCF MarginFCF / Revenue | 10.8% | 44.5% |
| Capex IntensityCapex / Revenue | 0.1% | 16.8% |
| Cash ConversionOCF / Net Profit | — | 3.71× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $71.9M | — | ||
| Q3 25 | $71.9M | $782.0M | ||
| Q3 24 | — | — |
| Q4 25 | $71.0M | — | ||
| Q3 25 | $67.4M | $568.0M | ||
| Q3 24 | — | — |
| Q4 25 | 10.8% | — | ||
| Q3 25 | 12.2% | 44.5% | ||
| Q3 24 | — | — |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.8% | 16.8% | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 5.17× | 3.71× | ||
| Q3 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PTON
| Subscription And Circulation | $412.6M | 63% |
| Connected Fitness Products Segment | $243.9M | 37% |
| Product Warranty | $4.0M | 1% |
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
