Services-Computer Programming, Data Processing, Etc. · Fiscal year ends Dec 31
Pinterest reported revenue of $4.2B in the fiscal year ended Dec 2025, up 15.8% from the year before. Operating income was $320M, an operating margin of 7.6%, and net income was $417M. Operating cash flow of $1.3B less capital expenditure of $32M left free cash flow of $1.3B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $2.6B | $2.8B | $3.1B | $3.6B | $4.2B |
| Cost of revenue | $529M | $679M | $689M | $750M | $842M |
| Gross profit | $2B | $2.1B | $2.4B | $2.9B | $3.4B |
| Research & development | $780M | $949M | $1.1B | $1.2B | $1.4B |
| Operating income | $326M | −$102M | −$126M | $180M | $320M |
| Pre-tax income | $321M | −$86M | −$16M | $288M | $446M |
| Income tax | $5M | $10M | $19M | −$1.6B | $29M |
| Net income | $316M | −$96M | −$36M | $1.9B | $417M |
| Diluted EPS | 0.46 | −0.14 | −0.05 | 2.67 | 0.61 |
| Diluted shares | 692M | 666M | 675M | 698M | 688M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.4B | $1.6B | $1.4B | $1.1B | $969M |
| Receivables | $653M | $682M | $763M | $893M | $998M |
| Current assets | $3.2B | $3.5B | $3.3B | $3.5B | $3.6B |
| Net PP&E | $53M | $60M | $32M | $46M | $66M |
| Goodwill | $40M | $100M | – | – | $100M |
| Total assets | $3.5B | $3.9B | $3.6B | $5.3B | $5.5B |
| Payables | $18M | $88M | $79M | $84M | $130M |
| Deferred revenue | – | $13M | $15M | $23M | $47M |
| Current liabilities | $260M | $381M | $317M | $398M | $465M |
| Total liabilities | $498M | $581M | $504M | $592M | $747M |
| Shareholders' equity | $3B | $3.3B | $3.1B | $4.8B | $4.7B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $753M | $469M | $613M | $965M | $1.3B |
| Capital expenditure | $9M | $29M | $8M | $25M | $32M |
| Free cash flow | $744M | $440M | $605M | $940M | $1.3B |
| Depreciation & amortisation | $28M | $46M | $22M | $21M | $25M |
| Stock-based compensation | $415M | $497M | $648M | $766M | $880M |
| Acquisitions | $37M | $86M | $0 | $0 | – |
| Share buybacks | $0 | $0 | $500M | $600M | $927M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 8.7% | 9.0% | 19.3% | 15.8% |
| Operating income growth (YoY) | – | −131.2% | – | – | 77.9% |
| EPS growth (YoY) | – | −130.4% | – | – | −77.2% |
| Gross margin | 79.5% | 75.8% | 77.5% | 79.4% | 80.1% |
| Operating margin | 12.7% | −3.6% | −4.1% | 4.9% | 7.6% |
| Net margin | 12.3% | −3.4% | −1.2% | 51.1% | 9.9% |
| Return on equityBlank when equity is negative | 10.4% | −2.9% | −1.2% | 39.2% | 8.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 10.0% | −2.9% | −3.8% | 3.6% | 6.4% |
| Free cash flow margin | 28.9% | 15.7% | 19.8% | 25.8% | 29.7% |
| Cash conversion (CFO ÷ net income) | 2.38x | −4.89x | −17.2x | 0.52x | 3.08x |
| Receivable days | 93 | 89 | 91 | 89 | 86 |
| Payable days | 12 | 47 | 42 | 41 | 56 |
| Current ratio | 12.2x | 9.08x | 10.5x | 8.75x | 7.64x |
Recent filings
More in Services-Computer Programming, Data Processing, Etc.
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.