PINS Communication Services

Pinterest, Inc.

$20.36+0.25%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Communication Services
Industry: Internet Content & Information
Country: United States
Market cap: 11.5B USD
Enterprise value: 11.5B USD
Full-time employees: 5,116

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 0.90 vs a peer median of 0.65), though less than the overall marketbigger price swings (beta 0.90 vs peers 0.65)
About average: profitability and growth

Ranks #189 of 454 communication services companies (top 42%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $2.3B vs $2.0B spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Pinterest recorded $2.3B of stock-based pay expense and spent $2.0B repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Pinterest recorded $2.3B of stock-based pay expense and spent $2.0B repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Stock-based pay is a large cost. Stock pay was 21% of revenue in 2025.
Pinterest paid employees $880M in stock in 2025, 21% of its $4.2B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Valuation signals disagree. Cheaper than 68% of peers on free cash flow, but only 26% on operating cash profit (EBITDA).Cheaper than 68% of peers on free cash flow, but only 26% on operating cash profit.
Relative to its free cash flow, Pinterest looks cheaper than 68% of peers; relative to its operating cash profit (EBITDA), cheaper than only 26%. The valuation score blends the two, so look at which measure fits this business best.Relative to its free cash flow, Pinterest looks cheaper than 68% of peers; relative to its operating cash profit, cheaper than only 26%. The valuation score blends the two, so look at which measure fits this business best.
Cash flow well above reported profit. Free cash flow is 5.1× reported profit.
Free cash flow is 5.1× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

StockQuotient Score

55/ 100▲ 1 since Oct 27 close

Oct 5 55 → Nov 4 55

Valuation

Is the price right?

33/100

Weak▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 32 → 33

Share price -1.1%+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.26Sector median: 0.0294 · MAD: 0.0294

EBITDA yield2.8%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.89Sector median: 0.0857 · MAD: 0.0649

Free cash flow yield11.2%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.64Sector median: 0.0740 · MAD: 0.0593

Other data (not scored)

Book yield25.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.4780 · MAD: 0.3375

Growth

Is it growing?

58/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 4.1%

Why it changed since the Oct 27, 2026 close: Score 57 → 58

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ 3-yr revenue
▲ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-84.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.81Sector median: 0.0878 · MAD: 0.3126

3-year revenue growth16.6%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.99Sector median: 0.0303 · MAD: 0.0683

Revenue growth16.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.89Sector median: 0.0299 · MAD: 0.0720

Profitability

Does it earn well?

52/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ ROA
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin4.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.41Sector median: 0.0818 · MAD: 0.0789

Return on assets5.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.79Sector median: 0.0272 · MAD: 0.0318

Return on invested capital7.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.17Sector median: 0.0598 · MAD: 0.0706

Other data (not scored)

Gross margin79.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4656 · MAD: 0.1827

Return on equity8.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0529 · MAD: 0.1007

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.90

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.85Sector median: 0.6525 · MAD: 0.2880

Current ratio3.81×

SEC filings · latest balance sheetReported value33% base weight · Z-score 3.49Sector median: 1.3848 · MAD: 0.6948

Debt / equity0.41×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -0.13Sector median: 0.3697 · MAD: 0.3335

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Pinterest

Is Pinterest getting weaker?: Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is 55/100, up 1 since Oct 28, 2026.
How is Pinterest valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 33/100 against 512 communication services peers. Free cash flow yield 11.2% vs a peer median of 7.4% (stronger than 68% of peers).Free cash flow yield 11.2% vs peers 7.4% (stronger than 68% of peers). EBITDA yield 2.8% vs a peer median of 8.6% (weaker than 74% of peers).EBITDA yield 2.8% vs peers 8.6% (weaker than 74% of peers).
Is Pinterest growing?: At about the same pace as its peers. Growth scores 58/100 against 512 communication services peers. 3-year revenue growth 16.6% vs a peer median of 3.0% (stronger than 86% of peers).3-year revenue growth 16.6% vs peers 3.0% (stronger than 86% of peers). Earnings per share growth -84.2% vs a peer median of 8.8% (weaker than 100% of peers).Earnings per share growth -84.2% vs peers 8.8% (weaker than 100% of peers).
How profitable is Pinterest?: About as profitable as its peers. Profitability scores 52/100 against 512 communication services peers. Return on assets 5.2% vs a peer median of 2.7% (stronger than 71% of peers).Return on assets 5.2% vs peers 2.7% (stronger than 71% of peers). Operating margin 4.9% vs a peer median of 8.2% (weaker than 63% of peers).Operating margin 4.9% vs peers 8.2% (weaker than 63% of peers).
How risky is Pinterest?: Lower risk relative to 512 communication services peers, judged on debt, liquidity and share-price swings. Current ratio 3.81× vs a peer median of 1.38× (stronger than 88% of peers).Current ratio 3.81× vs peers 1.38× (stronger than 88% of peers). Beta 0.90 vs a peer median of 0.65 (weaker than 71% of peers).Beta 0.90 vs peers 0.65 (weaker than 71% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.4B USD	4.6B USD	+4.1%
Net income (12 months)	334.3M USD	248.9M USD	−25.5%
Operating margin	6.3%	4.9%	−1.4 pts
Free cash flow (12 months)	1.2B USD	1.3B USD	+6.1%
Cash	378.1M USD	422.5M USD	+11.7%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Communication Services · 67 companies

Valuations in Communication Services are within their usual range since 2016.

46% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +13% and earnings +11% (medians): earnings grew faster than prices.
Median price-to-sales is −6% vs the whole market, against a usual −7%.

2016Shaded: most expensive fifth of its range2026

Shown for Communication Services: too few Internet Content & Information companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	79.5%	75.8%	77.5%	79.4%	80.1%	▲ 0.6 pts
Operating margin	12.7%	-3.6%	-4.1%	4.9%	7.6%	▲ 2.6 pts
Net margin	12.3%	-3.4%	-1.2%	51.1%	9.9%	▼ 41 pts
Return on assets (ROA)	8.9%	-2.5%	-1.0%	34.9%	7.6%	▼ 27 pts
Return on equity (ROE)	10.4%	-2.9%	-1.2%	39.2%	8.8%	▼ 30 pts
Free cash flow margin	28.9%	15.7%	19.8%	25.8%	29.7%	▲ 3.9 pts
Current ratio	12.25×	9.08×	10.53×	8.75×	7.64×	▼ 13%

PINS price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 0.90 vs a peer median of 0.65), though less than the overall marketbigger price swings (beta 0.90 vs peers 0.65)

About average: profitability and growth

Ranks #189 of 454 communication services companies (top 42%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $2.3B vs $2.0B spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Pinterest recorded $2.3B of stock-based pay expense and spent $2.0B repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Pinterest recorded $2.3B of stock-based pay expense and spent $2.0B repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Stock-based pay is a large cost. Stock pay was 21% of revenue in 2025.

Pinterest paid employees $880M in stock in 2025, 21% of its $4.2B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Valuation signals disagree. Cheaper than 68% of peers on free cash flow, but only 26% on operating cash profit (EBITDA).Cheaper than 68% of peers on free cash flow, but only 26% on operating cash profit.

Relative to its free cash flow, Pinterest looks cheaper than 68% of peers; relative to its operating cash profit (EBITDA), cheaper than only 26%. The valuation score blends the two, so look at which measure fits this business best.Relative to its free cash flow, Pinterest looks cheaper than 68% of peers; relative to its operating cash profit, cheaper than only 26%. The valuation score blends the two, so look at which measure fits this business best.

Cash flow well above reported profit. Free cash flow is 5.1× reported profit.

Free cash flow is 5.1× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Questions investors ask about Pinterest

Is Pinterest getting weaker?

Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is 55/100, up 1 since Oct 28, 2026.

How is Pinterest valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 33/100 against 512 communication services peers. Free cash flow yield 11.2% vs a peer median of 7.4% (stronger than 68% of peers).Free cash flow yield 11.2% vs peers 7.4% (stronger than 68% of peers). EBITDA yield 2.8% vs a peer median of 8.6% (weaker than 74% of peers).EBITDA yield 2.8% vs peers 8.6% (weaker than 74% of peers).

Is Pinterest growing?

At about the same pace as its peers. Growth scores 58/100 against 512 communication services peers. 3-year revenue growth 16.6% vs a peer median of 3.0% (stronger than 86% of peers).3-year revenue growth 16.6% vs peers 3.0% (stronger than 86% of peers). Earnings per share growth -84.2% vs a peer median of 8.8% (weaker than 100% of peers).Earnings per share growth -84.2% vs peers 8.8% (weaker than 100% of peers).

How profitable is Pinterest?

About as profitable as its peers. Profitability scores 52/100 against 512 communication services peers. Return on assets 5.2% vs a peer median of 2.7% (stronger than 71% of peers).Return on assets 5.2% vs peers 2.7% (stronger than 71% of peers). Operating margin 4.9% vs a peer median of 8.2% (weaker than 63% of peers).Operating margin 4.9% vs peers 8.2% (weaker than 63% of peers).

How risky is Pinterest?

Lower risk relative to 512 communication services peers, judged on debt, liquidity and share-price swings. Current ratio 3.81× vs a peer median of 1.38× (stronger than 88% of peers).Current ratio 3.81× vs peers 1.38× (stronger than 88% of peers). Beta 0.90 vs a peer median of 0.65 (weaker than 71% of peers).Beta 0.90 vs peers 0.65 (weaker than 71% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.4B USD

4.6B USD

+4.1%

Net income (12 months)

334.3M USD

248.9M USD

−25.5%

Operating margin

6.3%

4.9%

−1.4 pts

Free cash flow (12 months)

1.2B USD

1.3B USD

+6.1%

Cash

378.1M USD

422.5M USD

+11.7%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

79.5%

75.8%

77.5%

79.4%

80.1%

▲ 0.6 pts

Operating margin

12.7%

-3.6%

-4.1%

4.9%

7.6%

▲ 2.6 pts

Net margin

12.3%

-3.4%

-1.2%

51.1%

9.9%

▼ 41 pts

Return on assets (ROA)

8.9%

-2.5%

-1.0%

34.9%

7.6%

▼ 27 pts

Return on equity (ROE)

10.4%

-2.9%

-1.2%

39.2%

8.8%

▼ 30 pts

Free cash flow margin

28.9%

15.7%

19.8%

25.8%

29.7%

▲ 3.9 pts

Current ratio

12.25×

9.08×

10.53×

8.75×

7.64×

▼ 13%