PINTEREST, INC. PINS
Pinterest is an AI-powered visual search and discovery platform, positioned at the intersection of search, social, and commerce. We offer a unique and differentiated experience that enables people to go from inspiration to action all on one consumer internet property. Pinterest can be accessed through our mobile application or the web.
People use Pinterest to find useful, relevant ideas—and then bring them to life. People don't always have the words to describe what they're looking for, but often know it when they see it. As they browse Pinterest content (called "Pins"), they fine-tune their tastes and find the perfect idea. Users interact with the platform in dynamic multi-session journeys to find inspiration, curate their latest look, plan their next project and shop from great brands. This happens at a massive scale, with billions of searches and saves per month, with the vast majority of queries being visual.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.22B | $3.65B | $3.06B | $2.80B | $2.58B | $1.69B | $1.14B | $755.9M | $472.9M | — |
| Cost of revenue | $841.5M | $750.4M | $688.8M | $678.6M | $529.3M | $449.4M | $358.9M | $241.6M | $178.7M | — |
| Gross profit | $3.38B | $2.90B | $2.37B | $2.12B | $2.05B | $1.24B | $783.9M | $514.3M | $294.2M | — |
| R&D | $1.43B | $1.24B | $1.07B | $949.0M | $780.3M | $606.2M | $1.21B | $251.7M | $208.0M | — |
| SG&A | $466.2M | $463.7M | $512.4M | $343.5M | $301.0M | $336.8M | $354.1M | $77.5M | $61.6M | — |
| Total operating expenses | $3.90B | $3.47B | $3.18B | $2.90B | $2.25B | $1.84B | $2.53B | $830.7M | $610.8M | — |
| Operating income | $319.9M | $179.8M | -$125.7M | -$101.7M | $326.2M | -$142.5M | -$1.39B | -$74.7M | -$137.9M | — |
| Pre-tax income | $445.9M | $287.6M | -$16.4M | -$85.9M | $321.0M | -$127.0M | -$1.36B | -$62.6M | -$129.7M | — |
| Income tax | $29.0M | $1.57B | $19.2M | $10.1M | $4.5M | $1.3M | $532.0K | $410.0K | $311.0K | — |
| Net income | $416.9M | $1.86B | -$35.6M | -$96.0M | $316.4M | -$128.3M | -$1.36B | -$63.0M | -$130.0M | — |
| EPS, basic | 0.62 | 2.74 | -0.05 | -0.14 | 0.49 | -0.22 | -3.24 | — | — | — |
| EPS, diluted | 0.61 | 2.67 | -0.05 | -0.14 | 0.46 | -0.22 | -3.24 | -0.50 | -1.03 | — |
| Shares, diluted (wtd. avg.) | $687.8M | $698.4M | $674.6M | $665.7M | $691.7M | $596.3M | $420.5M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $969.3M | $1.14B | $1.36B | $1.62B | $1.43B | $678.9M | $677.7M | $135.3M | $84.0M | $93.7M |
| Short-term investments | $1.50B | $1.38B | $1.15B | $1.09B | $1.06B | $1.09B | $1.06B | $505.3M | — | — |
| Receivables | $997.8M | $893.4M | $763.2M | $681.5M | $653.4M | $563.7M | $316.4M | $221.9M | — | — |
| Total current assets | $3.56B | $3.48B | $3.34B | $3.45B | $3.18B | $2.36B | $2.07B | $889.4M | — | — |
| Property, plant and equipment | $66.5M | $45.6M | $32.2M | $59.6M | $53.4M | $69.4M | $92.0M | $81.5M | — | — |
| Goodwill | — | — | — | $100.2M | $40.2M | $6.9M | — | — | — | — |
| Other intangibles | $6.1M | $9.9M | $17.2M | $24.6M | $20.9M | $6.7M | $7.7M | $7.2M | — | — |
| Total assets | $5.49B | $5.34B | $3.59B | $3.86B | $3.54B | $2.61B | $2.39B | $1.15B | — | — |
| Accounts payable | $129.8M | $84.0M | $79.1M | $87.9M | $17.7M | $49.5M | $34.3M | $22.2M | — | — |
| Total current liabilities | $465.5M | $398.1M | $317.1M | $380.5M | $259.8M | $204.8M | $176.2M | $108.4M | — | — |
| Total liabilities | $746.9M | $591.5M | $503.7M | $581.1M | $498.5M | $367.1M | $369.6M | $281.9M | — | — |
| Retained earnings | $128.7M | -$288.2M | -$2.15B | -$2.11B | -$2.02B | -$2.34B | -$2.21B | -$845.4M | — | — |
| Total equity | $4.75B | $4.75B | $3.09B | $3.28B | $3.04B | $2.24B | $2.02B | -$594.6M | -$546.5M | -$448.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.28B | $964.6M | $613.0M | $469.2M | $752.9M | $28.8M | $657.0K | -$60.4M | -$102.9M | — |
| Depreciation and amortisation | $25.2M | $21.3M | $21.5M | $46.5M | $27.5M | $37.0M | $27.8M | $20.9M | $16.1M | — |
| Stock-based compensation | $880.5M | $765.8M | $647.9M | $497.1M | $415.4M | $321.0M | $1.38B | $14.9M | $28.8M | — |
| Capital expenditure | $32.4M | $24.6M | $8.1M | $29.0M | $9.0M | $17.4M | $33.8M | $22.2M | $41.2M | — |
| Investing cash flow | -$134.5M | -$221.0M | -$37.0M | -$128.2M | -$25.9M | -$47.6M | -$586.5M | $114.1M | -$57.2M | — |
| Financing cash flow | -$1.32B | -$968.3M | -$826.8M | -$148.9M | $22.2M | $19.6M | $1.13B | -$2.2M | $150.3M | — |
| Buybacks | $927.0M | $600.2M | $500.0M | $0 | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001506293-26-000058.
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