Mattel vs Peloton Interactive
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The short version
- Mattel is the larger business, with $5.3B of revenue in fiscal 2025 against $2.4B for Peloton Interactive, about 2.2 times as much.
- Mattel grew revenue faster (β0.6%, against β1.8%).
- Mattel kept more of each dollar of sales as operating profit (10.2% operating margin, against 6.6%).
- Peloton Interactive turned more of its sales into free cash flow (15.4% FCF margin, against 9.0%).
| Latest fiscal year | MAT Β· FY25 | PTON Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $4.7B | $2.3B |
| Revenue | $5.3B | $2.4B |
| Free cash flow | $483M | $378M |
| Net income | $398M | $63.2M |
| Growth | ||
| Revenue growth | β0.6% | β1.8% |
| 5-year growth | 3.1% | β9.5% |
| Share count change | β6.3% | 11.8% |
| Profitability | ||
| Gross margin | 48.7% | 52.6% |
| Operating margin | 10.2% | 6.6% |
| Net margin | 7.4% | 2.6% |
| FCF margin | 9.0% | 15.4% |
| Return on capital | 13.5% | β |
| Return on equity | 17.7% | β |
| Balance sheet | ||
| Net debt | $1.1B | $123M |
| Net debt / EBITDA | 1.5x | 0.6x |
| Dividends and buybacks | $600M | $0.0M |
| Valuation & quality | ||
| P/E | 12.1x | β |
| Piotroski F-score | 5 | 8 |
Revenue
FY17
MAT $4.9B
PTON β
FY18
MAT $4.5B
PTON $435M
FY19
MAT $4.5B
PTON $915M
FY20
MAT $4.6B
PTON $1.8B
FY21
MAT $5.5B
PTON $4.0B
FY22
MAT $5.4B
PTON $3.6B
FY23
MAT $5.4B
PTON $2.8B
FY24
MAT $5.4B
PTON $2.7B
FY25
MAT $5.3B
PTON $2.5B
FY26
MAT β
PTON $2.4B
MAT
PTON
Operating margin
FY17
MAT β6.9%
PTON β
FY18
MAT β5.2%
PTON β10.9%
FY19
MAT 0.8%
PTON β22.1%
FY20
MAT 8.2%
PTON β4.4%
FY21
MAT 13.4%
PTON β4.7%
FY22
MAT 12.4%
PTON β76.3%
FY23
MAT 10.3%
PTON β42.8%
FY24
MAT 12.9%
PTON β19.6%
FY25
MAT 10.2%
PTON β1.5%
FY26
MAT β
PTON 6.6%
MAT
PTON
Free cash flow
FY17
MAT β$157M
PTON β
FY18
MAT β$102M
PTON $21.7M
FY19
MAT $118M
PTON β$192M
FY20
MAT $226M
PTON $223M
FY21
MAT $408M
PTON β$481M
FY22
MAT $337M
PTON β$2.4B
FY23
MAT $784M
PTON β$470M
FY24
MAT $665M
PTON β$85.8M
FY25
MAT $483M
PTON $324M
FY26
MAT β
PTON $378M
MAT
PTON
Return on capital
FY17
MAT β7.4%
PTON β
FY18
MAT β5.9%
PTON β
FY19
MAT 1.0%
PTON β
FY20
MAT 8.7%
PTON β
FY21
MAT 23.9%
PTON β33.0%
FY22
MAT 14.0%
PTON β363.7%
FY23
MAT 8.2%
PTON β
FY24
MAT 17.9%
PTON β
FY25
MAT 13.5%
PTON β
FY26
MAT β
PTON β
MAT
PTON
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.