PINS NYSE Interactive Home Entertainment Financials FY2017–FY2025
Pinterest's revenue rose 15.8% to $4.2 billion in fiscal 2025. Its operating margin was 7.6%, up from 4.9% a year earlier. Free cash flow was $1.3 billion, up 33.2%. It paid out $927 million in dividends and buybacks, 74% of free cash flow. The diluted share count fell 1.5%.
About these figures. Pinterest reports no borrowings (its credit line is undrawn), so debt is counted as zero.
What Pinterest does
Pinterest runs a free app and website where people search for and save images and videos, called Pins, for ideas such as recipes, outfits, home projects or trips. Users sort Pins onto boards and can click through to buy products they find. Pinterest says 619 million people use it each month across more than 100 countries, about two-thirds of them women.
Almost all of Pinterest's revenue comes from advertising. Brands and retailers pay to place ads, including image, video and shopping ads, among the Pins people browse, and most buy them through an automated auction. Advertisers pay either for views or for results such as clicks and purchases. Average revenue per user is much higher in North America: in 2025 it was $30.84 per user in the United States and Canada and $5.12 in Europe. Pinterest names Amazon, Meta, Google, OpenAI, Snap, Reddit, TikTok and X among its competitors for users' time and for advertisers.
Pinterest uses AI to recommend content and target ads, drawing on what people search for and save. It had 5,265 full-time employees at the end of 2025, and in early 2026 it began a restructuring to shift staff and spending toward AI work.
- Legal name
- Pinterest, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 12, 2026
- Accession · CIK
- 0001506293-26-000021
0001506293
Revenue and margins
Pinterest had $4.2B of revenue in fiscal 2025, up 15.8% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $1.3B in fiscal 2025, 29.7% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Pinterest returned $927M to shareholders in fiscal 2025, 74% of free cash flow. The diluted share count fell 1.5%.
Value Pinterest yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of $2.5B and divides by 687.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 65.6x · peers — · sector 17.1x.
Balance sheet
Cash, debt and the ratios that show how comfortably Pinterest can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.5B | $2.7B | $2.5B | $2.5B | $2.5B |
| Debt incl. finance leases | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net debt / EBITDA | −7.0x | — | — | −12.5x | −7.2x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | 12.3x | 9.1x | 10.5x | 8.8x | 7.6x |
| Quick ratio | 12.3x | 9.1x | 10.5x | 8.8x | 7.6x |
| Total assets | $3.5B | $3.9B | $3.6B | $5.3B | $5.5B |
| Total liabilities | $499M | $581M | $504M | $592M | $747M |
| Shareholders' equity | $3.0B | $3.3B | $3.1B | $4.8B | $4.7B |
| Net debt (− = net cash) | −$2.5B | −$2.7B | −$2.5B | −$2.5B | −$2.5B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$8.6M
4 insiders
Of sales under plans
100%
$8.6M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 21, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $22.94 | $1.1M | Form 4 |
| Oct 21, 2026 | Gokul RajaramDirector | Sold plan | 1,050 | $22.84 | $0.0M | Form 4 |
| Oct 20, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $22.56 | $1.1M | Form 4 |
| Oct 14, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $22.02 | $1.0M | Form 4 |
| Oct 13, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $21.56 | $1.0M | Form 4 |
| Oct 7, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $20.07 | $0.9M | Form 4 |
| Oct 6, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $19.66 | $0.9M | Form 4 |
| Oct 5, 2026 | Claude Leonard BrownChief Business Officer | Sold plan | 12,240 | $20.00 | $0.2M | Form 4 |
| Oct 5, 2026 | Gokul RajaramDirector | Sold plan | 1,050 | $20.00 | $0.0M | Form 4 |
| Sep 30, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $18.72 | $0.9M | Form 4 |
| Sep 29, 2026 | Benjamin SilbermannDirector, 10% owner | Sold plan | 46,875 | $18.33 | $0.9M | Form 4 |
| Sep 24, 2026 | Donnelly Julia BrauChief Financial Officer | Sold plan | 29,548 | $18.61 | $0.5M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✕ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✕ | ✓ |
| Debt fell relative to assets | ✕ | ✕ | ✕ |
| Current ratio rose | ✓ | ✕ | ✕ |
| Share count didn't rise | ✕ | ✕ | ✓ |
| Gross margin rose | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | ✕ | ✓ | ✕ |
| F-score | 5 / 9 | 5 / 9 | 5 / 9 |
| Accruals ratio | −17.4% | 20.1% | −16.0% |
| Altman Z'' | 9.77 | 12.27 | 10.83 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Pinterest PINS | $12.6B | 15.8% | 7.6% | 29.7% | 13.2% | 65.7x | 5 | |
| Roblox RBLX | $37.9B | 35.8% | −25.2% | 27.7% | — | — | 6 | Compare → |
| Take-Two Interactive TTWO | $37.9B | 18.2% | −1.6% | 6.9% | −2.0% | — | 7 | Compare → |
| TKO Group TKO | $13.1B | −3.1% | 17.6% | — | 5.9% | — | 5 | Compare → |
| Roku ROKU | $24.1B | 15.2% | −0.1% | 10.1% | — | 67.5x | 6 | Compare → |
9 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue | $473M | $756M | $1.1B | $1.7B | $2.6B | $2.8B | $3.1B | $3.6B | $4.2B |
| Gross profit | $294M | $514M | $784M | $1.2B | $2.0B | $2.1B | $2.4B | $2.9B | $3.4B |
| Research and development | $208M | $252M | $1.2B | $606M | $780M | $949M | $1.1B | $1.2B | $1.4B |
| Operating income | −$138M | −$74.7M | −$1.4B | −$143M | $326M | −$102M | −$126M | $180M | $320M |
| Pretax income | −$130M | −$62.6M | −$1.4B | −$127M | $321M | −$85.9M | −$16.4M | $288M | $446M |
| Income tax | $0.3M | $0.4M | $0.5M | $1.3M | $4.5M | $10.1M | $19.2M | −$1.6B | $29.0M |
| Net income | −$130M | −$63.0M | −$1.4B | −$128M | $316M | −$96.0M | −$35.6M | $1.9B | $417M |
| Diluted EPS | −$1.03 | −$0.50 | −$3.24 | −$0.22 | $0.46 | −$0.14 | −$0.05 | $2.67 | $0.61 |
| Diluted shares | 0.13B | 0.13B | 0.42B | 0.60B | 0.69B | 0.67B | 0.67B | 0.70B | 0.69B |
| Cash flow | |||||||||
| Cash from operations | −$103M | −$60.4M | $0.7M | $28.8M | $753M | $469M | $613M | $965M | $1.3B |
| Capital expenditure | $41.2M | $22.2M | $33.8M | $17.4M | $9.0M | $29.0M | $8.1M | $24.6M | $32.4M |
| Free cash flow | −$144M | −$82.6M | −$33.1M | $11.4M | $744M | $440M | $605M | $940M | $1.3B |
| Depreciation and amortization | $16.1M | $20.9M | $27.8M | $37.0M | $27.5M | $46.5M | $21.5M | $21.3M | $25.2M |
| Stock-based compensation | $28.8M | $14.9M | $1.4B | $321M | $415M | $497M | $648M | $766M | $881M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $36.9M | $86.1M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $500M | $600M | $927M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $500M | $600M | $927M |
| Balance sheet | |||||||||
| Cash and short-term investments | $71.5M | $628M | $1.7B | $1.8B | $2.5B | $2.7B | $2.5B | $2.5B | $2.5B |
| Total debt | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | — | $889M | $2.1B | $2.4B | $3.2B | $3.5B | $3.3B | $3.5B | $3.6B |
| Current liabilities | — | $108M | $176M | $205M | $260M | $381M | $317M | $398M | $466M |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | — | $81.5M | $92.0M | $69.4M | $53.4M | $59.6M | $32.2M | $45.6M | $66.5M |
| Total assets | — | $1.2B | $2.4B | $2.6B | $3.5B | $3.9B | $3.6B | $5.3B | $5.5B |
| Total liabilities | — | $282M | $370M | $367M | $499M | $581M | $504M | $592M | $747M |
| Shareholders' equity | −$547M | −$595M | $2.0B | $2.2B | $3.0B | $3.3B | $3.1B | $4.8B | $4.7B |
| Margins | |||||||||
| Gross margin | 62.2% | 68.0% | 68.6% | 73.5% | 79.5% | 75.8% | 77.5% | 79.4% | 80.1% |
| Operating margin | −29.2% | −9.9% | −121.5% | −8.4% | 12.7% | −3.6% | −4.1% | 4.9% | 7.6% |
| EBITDA margin | −25.8% | −7.1% | −119.1% | −6.2% | 13.7% | −2.0% | −3.4% | 5.5% | 8.2% |
| Net margin | −27.5% | −8.3% | −119.1% | −7.6% | 12.3% | −3.4% | −1.2% | 51.1% | 9.9% |
| FCF margin | −30.5% | −10.9% | −2.9% | 0.7% | 28.9% | 15.7% | 19.8% | 25.8% | 29.7% |
| Returns | |||||||||
| Return on capital | — | — | — | −28.4% | 61.8% | −14.1% | −17.1% | 12.8% | 13.2% |
| Return on capital employed | — | — | −85.2% | −6.2% | 11.5% | −3.0% | −3.7% | 4.4% | 6.4% |
| Return on equity | — | — | −190.5% | −6.0% | 12.0% | −3.0% | −1.1% | 47.5% | 8.8% |
| Return on assets | — | — | −76.8% | −5.1% | 10.3% | −2.6% | −1.0% | 41.7% | 7.7% |
| Growth | |||||||||
| Revenue growth | — | 59.9% | 51.2% | 48.1% | 52.3% | 8.7% | 9.0% | 19.4% | 15.8% |
| Net income growth | — | — | — | — | — | −130.4% | — | — | −77.6% |
| EPS growth | — | — | — | — | — | −130.4% | — | — | −77.2% |
| FCF growth | — | — | — | — | 6,411.0% | −40.8% | 37.4% | 55.4% | 33.2% |
| Share count change | — | 0.4% | 230.8% | 41.8% | 16.0% | −3.8% | 1.3% | 3.5% | −1.5% |
| Financial health | |||||||||
| Net debt / EBITDA | — | — | — | — | −7.0x | — | — | −12.5x | −7.2x |
| Debt / equity | — | — | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | — | 8.2x | 11.7x | 11.5x | 12.3x | 9.1x | 10.5x | 8.8x | 7.6x |
| Quick ratio | — | 8.2x | 11.7x | 11.5x | 12.3x | 9.1x | 10.5x | 8.8x | 7.6x |
| Capital allocation | |||||||||
| Capex / revenue | 8.7% | 2.9% | 3.0% | 1.0% | 0.4% | 1.0% | 0.3% | 0.7% | 0.8% |
| Stock comp / revenue | 6.1% | 2.0% | 120.6% | 19.0% | 16.1% | 17.7% | 21.2% | 21.0% | 20.9% |
| Payouts / FCF | — | — | — | 0.0% | 0.0% | 0.0% | 82.7% | 63.9% | 74.1% |
| Quality scores | |||||||||
| Piotroski F-score | — | — | — | 4.0 | 7.0 | 3.0 | 5.0 | 5.0 | 5.0 |
| Altman Z'' | — | −0.6 | 4.0 | 8.5 | 10.6 | 9.2 | 9.8 | 12.3 | 10.8 |
| Accruals ratio | — | — | −76.8% | −6.3% | −14.2% | −15.3% | −17.4% | 20.1% | −16.0% |
Source: SEC EDGAR XBRL filings (CIK 0001506293). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.