Pinterest, Inc.: financial statements

PINSNYSECommunication services · Services-Computer Programming, Data Processing, Etc.

Price

$19.15

November 13, 2026Market cap $12.9B

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The full history: 9 fiscal years, from 2017
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Notes on these figures

Earnings per share here are the last twelve months' earnings over today's shares, so they agree with the P/E. The number of shares changed a lot during the year, so they differ from the earnings per share the company filed, which use the year's average number of shares.

Financial statements

Each fiscal year's income statement, balance sheet and cash flow as the company filed them, and the latest quarters.

2023–2025 fiscal years

Click a line to see it on the chart.

Revenue

+17.5% a year over 2 years

Line	2023	2024	2025	Average a year
Revenue	$3.1B	$3.6B	$4.2B	+17.5%
Cost of revenue	$689M	$750M	$842M	+10.5%
Gross profit	$2.4B	$2.9B	$3.4B	+19.5%
Operating income	-$126M	$180M	$320M
Net income	-$36M	$1.9B	$417M
Earnings per share	-$0.05	$2.67	$0.61
Earnings per share, basic	-$0.05	$2.74	$0.62
Margins
Gross margin	77.5%	79.4%	80.1%
Operating margin	-4.1%	4.9%	7.6%
Net margin	-1.2%	51.1%	9.9%

Financial statements

PINS's revenue, profits and cash flows from 2017 to 2022, 6 more fiscal years

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By segment

Revenue and operating income by business segment or by product, as the company itself reports them in each year's 10-K. Each year from the latest filing that carries it, so a segment renamed or re-cut shows in its current form.

Country or region	2023	2024	2025	Share 2025
United States And Canada	$2.4B	$2.7B	$3.1B	72%
Europe	$501M	$601M	$779M	18%
Rest Of World	$204M	$305M	$390M	9.2%

By segment

PINS's revenue by region from 2017 to 2022, 6 more fiscal years

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From the XBRL of 7 of the company's annual reports to the SEC (ASC 280). Amounts in dollars.

Amounts are in dollars as the company filed them in its annual reports (10-K or 20-F). Those reporting in another currency are converted at each fiscal year-end rate. Shares and earnings per share are adjusted for splits.

Debt and obligations

What the company owes beyond the loans on its balance sheet, and when it pays, from the notes to its annual report: debt maturities, leases, pension plans, goodwill by segment, and how it gets to the tax it pays.

$262M Leases7.0% Effective tax rate

Leases

Dec 31, 2025

Operating leases

$262M

Finance leases

–

The liability is the present value of the rent still to pay, at December 31, 2025. It is not counted in the ladder's debt. The filing

From the statutory to the effective tax rate, 2025

Dec 31, 2025

Statutory rate

21.0%

Effective rate

7.0%

-14.0 pts

The company paid 7.0% in tax on its profit, 14.0 points below the US federal rate (21.0%). Below, the reasons it gives.

Statutory rate

21.0%

Tax credits

-17.0 pts

Difference the filing does not itemize

+3.0 pts

Effective rate

7.0%

One point is 1% of profit before tax. The lines are as the company states them in the notes to its annual report. The filing

Earnings quality

How the reported earnings were made, read from the filings. A description, not a score: our tests found no link between these measures and later share returns.

Where the change in earnings per share came from

Diluted earnings per share went from $2.67 in the fiscal year to Dec 31, 2024 to $0.61 in the year to Dec 31, 2025, a change of -$2.06.

Measured by size, 80.7% of the movement came from outside sales and operating margin: interest and other items, the tax rate, what went to others and the share count.

That is a larger share than nine in ten S&P 500 companies showed.

: +$0.18
: +$0.55
: +$0.10
: -$2.91
: +$0.03

Earnings per share is split as sales times operating margin, plus interest and other items, after tax, times the part that goes to the common shareholders, divided by the diluted share count. Each source's part is its average effect over every order in which the six can change, so the parts add up exactly to the change. From the annual reports; net income over the diluted count matches the earnings per share the company filed within 2%.

Receivables and inventory against sales

In the quarter to Sep 30, 2026, sales were +11.9% on the same quarter a year earlier, and receivables +14.5%.

a year earlier 69 days: 71 days

Balances at Sep 30, 2026 and Sep 30, 2025, against the sales and cost of sales of the quarter ending on each date; a fourth quarter is the fiscal year less its first nine months. Same quarter against same quarter, so the season is the same.

Taxes: deferred and paid

The deferred part was 36.1% of the tax charge in the year to Dec 31, 2025.

Cash taxes paid were 120.5% of the current tax charge in the year to Dec 31, 2025.

Deferred share, year to Dec 31, 2025$10M of $29M: 36.1%
$22M paid, $19M current: 120.5%

When profit in the accounts runs ahead of taxable profit, the deferred part grows. It also moves for reasons unrelated to how earnings are booked: tax-law changes, the use of past losses, and the US rule since 2022 that spreads research costs over five years. Where the notes report it, the tax-rate bridge under Debt and obligations shows how the rate gets from the statutory one to the effective one.

The allowance for doubtful accounts is not shown: the company does not tag it in its structured filings.

A reading is called out when it is above the 90th percentile of the same reading across the S&P 500, or, for a fall, below the 10th, as measured on 9 November 2026. Each part uses only the company's own filings.

The full analysis

What do Pinterest's filings show?

These are Pinterest's figures from its filings. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

A fair value range built from the filings
Earnings quality, debt and red flags
Insider and institutional moves
The case for and the case against

Questions about PINS's financials

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How much revenue did PINS have in 2025?

Pinterest had revenue of $4.2B and net income of $417M in fiscal 2025, a net margin of 9.9%.

How much debt does PINS have?

On December 31, 2025 Pinterest had total assets of $5.5B, debt of – and shareholders' equity of $4.7B.

How much free cash flow does PINS have?

In fiscal 2025 Pinterest had cash from operations of $1.3B and spent $32M on capital expenditure, leaving $1.3B of free cash flow.

Where are the figures from?

From Pinterest, Inc.'s annual and quarterly reports to the SEC, read from the structured data (XBRL) it files itself.

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

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The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.