Stocks PINS Financial statements
Financial statementsPINTEREST, INC. financial statements
Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data PINTEREST, INC. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 473 | 756 | 1,143 | 1,693 | 2,578 | 2,803 | 3,055 | 3,646 | 4,222 |
| Cost of revenue | 179 | 242 | 359 | 449 | 529 | 679 | 689 | 750 | 842 |
| Gross profit | 294 | 514 | 784 | 1,243 | 2,049 | 2,124 | 2,366 | 2,896 | 3,380 |
| Research and development | 208 | 252 | 1,207 | 606 | 780 | 949 | 1,068 | 1,241 | 1,427 |
| Selling and marketing | 163 | 260 | 612 | 443 | 641 | 933 | 911 | 1,012 | 1,167 |
| General and administrative | 61.6 | 77.5 | 354 | 337 | 301 | 344 | 512 | 464 | 466 |
| Operating income | -138 | -74.7 | -1,389 | -143 | 326 | -102 | -126 | 180 | 320 |
| Interest income | 8.31 | 13.2 | 30.2 | 16.1 | 4.2 | 30.9 | |||
| Other non-operating income | -8.29 | -14.5 | 3.8 | -19.2 | 15.5 | ||||
| Pre-tax income | -130 | -62.6 | -1,361 | -127 | 321 | -85.9 | -16.4 | 288 | 446 |
| Income tax | 0.31 | 0.41 | 0.53 | 1.3 | 4.53 | 10.1 | 19.2 | -1,575 | 29 |
| Net income | -130 | -63 | -1,361 | -128 | 316 | -96 | -35.6 | 1,862 | 417 |
| EBITDA | -122 | -53.9 | -1,361 | -106 | 354 | -55.2 | -104 | 201 | 345 |
| EPS, basic | -1.03 | -0.50 | -3.24 | -0.22 | 0.49 | -0.14 | -0.05 | 2.74 | 0.62 |
| EPS, diluted | -1.03 | -0.50 | -3.24 | -0.22 | 0.46 | -0.14 | -0.05 | 2.67 | 0.61 |
| Shares, basic (weighted) | 127 | 127 | 420 | 596 | 640 | 666 | 675 | 679 | 675 |
| Shares, diluted (weighted) | 127 | 127 | 420 | 596 | 692 | 666 | 675 | 698 | 688 |
Balance sheet
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 71.5 | 123 | 650 | 669 | 1,420 | 1,611 | 1,362 | 1,136 | 969 |
| Short-term investments | 505 | 1,064 | 1,091 | 1,060 | 1,087 | 1,149 | 1,376 | 1,498 | |
| Receivables | 222 | 316 | 564 | 653 | 682 | 763 | 893 | 998 | |
| Other current assets | 39.6 | 37.5 | 33.5 | 48.1 | 74.9 | 64.3 | 78.4 | 90.7 | |
| Total current assets | 889 | 2,067 | 2,358 | 3,182 | 3,455 | 3,339 | 3,485 | 3,556 | |
| Property, plant and equipment | 81.5 | 92 | 69.4 | 53.4 | 59.6 | 32.2 | 45.6 | 66.5 | |
| Lease right-of-use assets | 145 | 188 | 156 | 228 | 206 | 92.1 | 85.9 | 150 | |
| Goodwill | 6.91 | 40.2 | 100 | 100 | |||||
| Intangible assets | 7.17 | 7.67 | 6.66 | 20.9 | 24.6 | 17.2 | 9.88 | 6.08 | |
| Other non-current assets | 10.9 | 5.93 | 13.1 | 13.2 | 17.4 | 11 | 13.8 | 21.1 | |
| Total assets | 1,153 | 2,393 | 2,609 | 3,537 | 3,863 | 3,594 | 5,343 | 5,492 | |
| Accounts payable | 22.2 | 34.3 | 49.5 | 17.7 | 87.9 | 79.1 | 84 | 130 | |
| Accrued liabilities | 86.3 | 142 | 155 | 242 | 293 | 238 | 314 | 336 | |
| Deferred revenue | 15.3 | 23.4 | 47.5 | ||||||
| Total current liabilities | 108 | 176 | 205 | 260 | 381 | 317 | 398 | 465 | |
| Lease liabilities | 151 | 173 | 139 | 209 | 179 | 161 | 151 | 221 | |
| Other non-current liabilities | 22.1 | 20.1 | 22.9 | 29.5 | 21.9 | 26 | 42 | 60.8 | |
| Total liabilities | 282 | 370 | 367 | 498 | 581 | 504 | 592 | 747 | |
| Paid-in capital | 252 | 4,230 | 4,575 | 5,060 | 5,408 | 5,242 | 5,039 | 4,612 | |
| Retained earnings | -845 | -2,207 | -2,335 | -2,019 | -2,115 | -2,150 | -288 | 129 | |
| Other comprehensive income | -1.42 | 0.65 | 2.48 | -2.18 | -11.4 | -1.01 | -0.13 | 4.33 | |
| Shareholders' equity | -546 | -595 | 2,024 | 2,242 | 3,039 | 3,282 | 3,091 | 4,751 | 4,745 |
| Total equity | -546 | -595 | 2,024 | 2,242 | 3,039 | 3,282 | 3,091 | 4,751 | 4,745 |
| Total liabilities and equity | 1,153 | 2,393 | 2,609 | 3,537 | 3,863 | 3,594 | 5,343 | 5,492 | |
| Shares outstanding | 127 | 0 |
Cash flow statement
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | -130 | -63 | -1,361 | -128 | 316 | -96 | -35.6 | 1,862 | 417 |
| Depreciation and amortization | 16.1 | 20.9 | 27.8 | 37 | 27.5 | 46.5 | 21.5 | 21.3 | 25.2 |
| Stock-based compensation | 28.8 | 14.9 | 1,378 | 321 | 415 | 497 | 648 | 766 | 880 |
| Deferred income tax | -0.08 | -0.09 | -1.15 | 0.53 | -0.73 | -3.34 | -1.84 | -1,600 | 10.5 |
| Change in receivables | -47.8 | -86.1 | -94.2 | -253 | -88.9 | -28.9 | -80.8 | -129 | -104 |
| Change in payables | 12 | 6.53 | 11.6 | 15.7 | -33.5 | 70.8 | -9.26 | 3.83 | 42.9 |
| Cash from operations | -103 | -60.4 | 0.66 | 28.8 | 753 | 469 | 613 | 965 | 1,284 |
| Capital expenditures | -41.2 | -22.2 | -33.8 | -17.4 | -9.03 | -29 | -8.06 | -24.6 | -32.4 |
| Acquisitions | 0 | 0 | -36.9 | -86.1 | 0 | 0 | |||
| Purchases of investments | -515 | -519 | -1,076 | -1,216 | -1,104 | -1,028 | -1,308 | -1,510 | -1,567 |
| Sales and maturities of investments | 299 | 561 | 361 | 920 | 850 | 1,008 | 1,243 | 1,292 | 1,433 |
| Cash from investing | -57.3 | 114 | -587 | -47.6 | -25.9 | -128 | -37 | -221 | -134 |
| Stock issued | 0.48 | 0.67 | 41.3 | 78.3 | 23.9 | 12.9 | 8.26 | 22.1 | 8.05 |
| Share buybacks | 0 | 0 | -500 | -600 | -927 | ||||
| Cash from financing | 150 | -2.22 | 1,128 | 19.6 | 22.2 | -149 | -827 | -968 | -1,318 |
| Exchange rate effect | 0.15 | -0.16 | 0.1 | 0.33 | -1.06 | -1.43 | 1.67 | -2.57 | 2.3 |
| Net change in cash | -9.75 | 51.3 | 542 | 1.17 | 748 | 191 | -249 | -227 | -166 |
| Free cash flow | -144 | -82.6 | -33.1 | 11.4 | 744 | 440 | 605 | 940 | 1,252 |
| Income taxes paid | 1.49 | 10 | 19.2 | 25 | 22.4 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 79.5% | Gross profit / revenue. |
| Operating margin | 4.9% | Operating income / revenue. |
| EBITDA margin | 5.7% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 6.6% | Pre-tax income / revenue. |
| Net margin | 5.5% | Net income / revenue. |
| FCF margin | 28.1% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 29.3% | Cash from operations / revenue. |
| Effective tax rate | 17.6% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 8.6% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 5.2% | Net income / average total assets. |
| Return on invested capital (ROIC) | 7.5% | Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%. |
| R&D / revenue | 34.4% | Research and development expense / revenue. |
| Stock-based pay / revenue | 22.4% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 1.2% | Capital expenditures / revenue. |
| D&A / revenue | 0.7% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 15.8% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 14.6% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 20.1% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | 16.7% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | 16.8% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 22.1% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | 77.9% | Operating income vs the same period a year earlier. Only from a positive base. |
| EBITDA growth, 1y | 71.6% | EBITDA vs the same period a year earlier. Only from a positive base. |
| Net income growth, 1y | -77.6% | Net income vs the same period a year earlier. Only from a positive base. |
| EPS growth, 1y | -77.2% | EPS vs the same period a year earlier. Only from a positive base. |
| Operating cash flow growth, 1y | 33.1% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 39.9% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 113.7% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 33.2% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | 41.7% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 155.8% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | -0.1% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 13.1% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 16.2% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 2.8% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 12.4% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 16.0% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -1.5% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | 1.1% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 2.9% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 3.81x | Current assets / current liabilities. |
| Quick ratio | 3.62x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 2.09x | (Cash + short-term investments) / current liabilities. |
| Liabilities / assets | 39.2% | Total liabilities / total assets. |
| Working capital | $1.71B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 11.7% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $2.34B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.96x | Revenue / average total assets. |
| Fixed asset turnover | 46.8x | Revenue / average property, plant and equipment. |
| Receivables turnover | 4.89x | Revenue / average receivables. |
| Days sales outstanding | 75 days | 365 x average receivables / revenue. |
| Days payables | 57 days | 365 x average accounts payable / cost of revenue. |
| FCF conversion | 514.4% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 4.0% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $0.44 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $8.09 | Revenue / diluted weighted shares. |
| FCF per share | $2.27 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $2.37 | Cash from operations / diluted weighted shares. |
| Book value per share | $5.14 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $4.15 | Tangible book value / shares outstanding. |
| Cash per share | $2.26 | (Cash + short-term investments) / shares outstanding. |
| Buybacks / FCF | 212.8% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $10.70B | Share price x shares outstanding. |
| Enterprise value | $9.43B | Market cap + total debt - cash - short-term investments. |
| P/E | 43.0x | Market cap / net income. Only when net income is positive. |
| P/S | 2.35x | Market cap / revenue. |
| P/B | 3.70x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 4.58x | Market cap / tangible book value, when positive. |
| P/FCF | 8.36x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 8.02x | Market cap / cash from operations, when positive. |
| EV/Sales | 2.07x | Enterprise value / revenue. |
| EV/EBIT | 42.1x | Enterprise value / operating income, when both are positive. |
| EV/EBITDA | 36.5x | Enterprise value / EBITDA, when both are positive. |
| EV/FCF | 7.36x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 12.0% | Free cash flow / market cap. |
| Earnings yield | 2.3% | Net income / market cap (the inverse of P/E). |
| Shareholder yield | 25.5% | (Dividends paid + share buybacks) / market cap. |
What was PINTEREST, INC.'s revenue in fiscal 2025?
PINTEREST, INC. reported revenue of $4.22B for fiscal 2025, 15.8% higher than the year before.
Was PINTEREST, INC. profitable in fiscal 2025?
Yes. Net income was $416.9M, a net margin of 9.9%.
How much free cash flow did PINTEREST, INC. generate in fiscal 2025?
Cash from operations of $1.28B minus capital expenditures of $32.4M left free cash flow of $1.25B.