One-glance verdict
Undervalued
$88.13 our estimate vs market $4.16
Wall Street consensus: $17.00 (-80.7% lower than our fair-value estimate)
95% below our estimate, below the bear case
Fundamentals snapshot
The Beachbody Company, Inc.
BODI · NCM · Communication Services · Internet Content & Information
Current price
$4.16
52-week range
$4.01 - $16.87
Market cap
$30.30M
Balance sheet
Healthy
1.61x Concerning
Net cash $6.72M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Returns 43.4% on equity, ahead of 75% of its peers.
- Reward Free cash flow was positive in 3/10 years.
- Reward Trades at 2.4x P/E vs peer median 12.6x (81.0% cheaper).
- Risk Forward P/E (2.6x) is higher than trailing (2.4x) - earnings are expected to drop.
What this company does
The Beachbody Company, Inc.
Beachbody sells fitness programs and nutrition products, with most of its money coming from subscriptions to its streaming service. This is important because it means the company has recurring revenue (money that comes in regularly from the same customers), which can be more stable than one-time sales.
How the company got here
The Beachbody Company, Inc. started in 1998, aiming to help people get fit and healthy. It became well-known for its home workout programs like P90X and Insanity, which were often sold through infomercials. Over time, the company evolved, moving towards a subscription-based streaming service to offer its fitness and nutrition content more broadly. This shift reflects a larger trend in the fitness industry, moving from physical media to digital access.
What it actually does
Beachbody is a company focused on health and fitness, offering a variety of ways for people to achieve their wellness goals. It provides workout programs that people can do at home, along with nutritional products designed to complement an active lifestyle. The core idea is to offer a comprehensive solution for fitness and healthy eating, accessible to a wide audience.
Beachbody on Demand Interactive
This is Beachbody's primary offering, a subscription service that gives users access to a vast library of workout videos and fitness programs. Think of it like Netflix, but for exercise routines, featuring popular programs like P90X and Insanity. Subscribers pay a recurring fee (monthly or annually) for this digital access, which also includes nutrition guidance and mindfulness content. This segment represents the company's main revenue stream, as it's the core digital platform.
Nutritional Products
Beyond workouts, Beachbody also sells its own line of nutritional products. The most prominent is Shakeology, a meal-replacement shake designed to provide essential nutrients. They also offer Beachbody Performance supplements, which include items like pre-workout drinks to boost energy and post-workout drinks to aid recovery. These products are sold directly to consumers, often to complement the fitness programs and provide a more complete health solution.
What management is betting on now
Beachbody's current strategy heavily relies on growing its Beachbody on Demand Interactive subscription service. The company is focused on expanding its digital content library and improving the user experience to attract and retain subscribers. They are also likely looking for ways to integrate their nutritional products more seamlessly with the digital platform, aiming to create a holistic ecosystem for their customers. The goal is to make fitness and nutrition accessible and engaging through their technology.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$53.00K
FY2024 Q4
$-7.30M
FY2025 Q1
$1.65M
FY2025 Q2
$2.42M
FY2025 Q3
$9.00M
FY2025 Q4
$4.28M
FY2026 Q1
$-1.72M
FY2026 Q2
$-4.00M
Revenue
$49.61M
Net income
$1.38M
Diluted EPS
0.11
Operating cash flow
$-3.24M
Free cash flow
$-4.00M
Fetching…
Sources
Revenue
$54.28M
Net income
$2.29M
Diluted EPS
0.30
Operating cash flow
$-1.04M
Free cash flow
$-1.72M
Fetching…
Sources
Revenue
$55.54M
Net income
$5.22M
Diluted EPS
0.77
Operating cash flow
$4.98M
Free cash flow
$4.28M
Fetching…
Sources
Revenue
$59.89M
Net income
$3.57M
Diluted EPS
0.51
Operating cash flow
$10.19M
Free cash flow
$9.00M
Fetching…
Sources
Revenue
$63.94M
Net income
$-5.90M
Diluted EPS
-0.85
Operating cash flow
$4.24M
Free cash flow
$2.42M
Fetching…
Sources
Revenue
$72.36M
Net income
$-5.75M
Diluted EPS
-0.84
Operating cash flow
$2.34M
Free cash flow
$1.65M
Fetching…
Sources
Revenue
$86.37M
Net income
$-34.56M
Diluted EPS
-5.07
Operating cash flow
$-6.73M
Free cash flow
$-7.30M
Fetching…
Sources
Revenue
$102.19M
Net income
$-12.00M
Diluted EPS
-1.75
Operating cash flow
$1.08M
Free cash flow
$53.00K
Fetching…
Sources
Is it cheap or expensive?
Fair value $88.13 vs current price $4.16
Wall Street consensus is the average analyst price target: $17.00 (-80.7% lower than our fair-value estimate).
Our most-likely fair value is $88.13 a share — about 2,018.5% above today's price of $4.16, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $6.7M - more cash than debt. Interest coverage 1.6x.
Net debt
$-6.72M
Interest coverage
1.61x
The Beachbody Company, Inc.'s profit covers its interest bill about 1.6 times over. which is stronger than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
BODI
BASELINE
The Beachbody Company, Inc.
Total debt $25.57M Interest coverage 1.61x This is the baseline the peer rows are being compared against.
Total debt $1.71B Interest coverage 1.72x +7% vs BODI Has roughly the same debt cushion as BODI.
Total debt $426.31M Interest coverage 0.73x -54% vs BODI Carries about 2.2x less debt cushion than BODI.
Total debt $31.17M Interest coverage -1.69x -100% vs BODI This peer has almost no interest-payment cushion compared with BODI.
Total debt $38.41M Interest coverage 6.51x +305% vs BODI Carries about 4.0x more debt cushion than BODI.
What you should know
The case for and against BODI
3 Rewards
1 Risk
Rewards
-
Returns 43.4% on equity, ahead of 75% of its peers.
-
Free cash flow was positive in 3/10 years.
-
Trades at 2.4x P/E vs peer median 12.6x (81.0% cheaper).
Risks
-
Forward P/E (2.6x) is higher than trailing (2.4x) - earnings are expected to drop.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
2.40x
Forward P/E
2.65x
P/B
0.80x
P/S
0.14x
EV/EBITDA
0.73x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
73.3%
Operating margin
3.4%
Net margin
5.7%
ROE
43.4%
ROA
7.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.69x
Current ratio
0.79x
Quick ratio
0.46x
Total debt
$25.57M
Total cash
$32.29M
Growth
How the business has been compounding
Revenue TTM
$219.32M
Revenue 5Y CAGR
-26.7%
EPS TTM
1.73
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$10.89M
Free CF TTM
$17.35M
FCF margin
7.9%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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