At a glance
Pinterest Inc is worth $11.80B, about 34 times its fiscal 2025 earnings. Revenue grew 15.8% to $4.22B in fiscal 2025, with 9.9% kept as profit; over 5 years it has grown 20.1% a year. It pays no dividend; it spent $2.03B buying back its shares over FY2021–FY2025. The stock returned −41.6% over the past year with dividends reinvested and −14.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 53.7% in the 2020 crash (S&P 500: 33.7%) and 52.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 18 months after the lows.
The business in plain English
Pinterest runs a visual search and discovery app and website. People browse images and videos called "Pins," search for ideas such as outfits or home projects, and save favorites to topic "boards." The company calls itself an AI-powered platform where search, social media and shopping meet. Its 10-K for the year ended December 31, 2025 reported 619 million monthly active users in over 100 countries. Roughly two-thirds are women, and over half are Gen Z.
Substantially all revenue comes from advertising. Most ads are priced through an auction. Advertisers pay for "brand" goals, such as impressions or video views, or for "performance" goals, such as clicks or checkouts. Pinterest's pitch is that users arrive early in a purchase decision: over 90% of searches don't name a brand, so people are open to new ones. Ad revenue is concentrated among retail and consumer packaged goods advertisers (everyday items like food and toiletries).
Revenue reached $4.22 billion in fiscal 2025, up 15.8% from the prior year. By region, the U.S. and Canada supplied 72.3% ($3.05 billion), Europe 18.5% ($779 million) and the rest of the world 9.2% ($390 million). Its rivals include much larger companies such as Meta, Google, Amazon and TikTok.
Price history
The interactive chart needs JavaScript.
PINS -41.6% over the year to Oct 27, 2026, total return with dividends reinvested.
How it makes money
By geography
| U.S. and Canada | $3.05B | 72.3% |
| Europe | $779.1M | 18.5% |
| Rest of World | $390.0M | 9.2% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.17B, up 11.9% from a year earlier, and net income was $21.5M (-76.6%).
- For fiscal 2025, revenue was $4.22B (+15.8% year over year; +20.1% a year from FY2020 to FY2025) with a 9.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +20.1% good |
|---|---|
| Operating margin | 7.6% watch |
| Free cash flow margin | 29.7% good |
| Return on equity (FY2025) | 8.8% watch |
| Return on assets (FY2025) | 7.6% watch |
| Net cash (cash minus debt) | $487.9M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.69B | $-128.3M | $11.4M |
| FY2021 | $2.58B | $316.4M | $743.9M |
| FY2022 | $2.80B | $-96.0M | $440.2M |
| FY2023 | $3.06B | $-35.6M | $604.9M |
| FY2024 | $3.65B | $1.86B | $940.0M |
| FY2025 | $4.22B | $416.9M | $1.25B |
Valuation snapshot
| Market value | $11.80B |
|---|---|
| P/E ratio | 33.7 |
| Dividend yield | None |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PINS price data to Oct 27, 2026 | -20.5% | -41.6% | -5.5% | -14.6% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -20.5% |
| 2025 | -10.7% |
| 2024 | -21.7% |
| 2023 | +52.5% |
| 2022 | -33.2% |
| 2021 | -44.8% |
| 2020 | +253.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 46.9% over that stretch · deepest drop along the way 53.7%, back to its old high 3.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 36.6% over that stretch · deepest drop along the way 52.8%, back to its old high 18 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 29 sales ($23.2M), 29 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 11, 2026 | Benjamin Silbermann Director, 10% owner | sell (plan) | $1.1M |
| Aug 26, 2026 | Benjamin Silbermann Director, 10% owner | sell (plan) | $1.1M |
| Aug 25, 2026 | Benjamin Silbermann Director, 10% owner | sell (plan) | $1.1M |
| Aug 18, 2026 | Benjamin Silbermann Director, 10% owner | sell (plan) | $1.1M |
| Aug 12, 2026 | Benjamin Silbermann Director, 10% owner | sell (plan) | $1.1M |
Who owns it
Large shareholders (13G filings)
| Ameriprise Financial, Inc. | 9.3% | Jun 30, 2026 |
| BlackRock, Inc. | 8.8% | Sep 30, 2026 |
| Elliott Investment Management L.P. | 5.8% | Jun 30, 2026 |
| Vanguard Capital Management | 4.82% | Sep 30, 2026 |
| Vanguard Portfolio Management | 4.14% | Jun 30, 2026 |
| THE GOLDMAN SACHS GROUP, INC. | 3.7% | Jun 30, 2026 |
| T. Rowe Price Associates, Inc. | 3.7% | Jun 30, 2025 |
ETFs with the most weight in PINS
| SOCL Global X Social Media ETF | 6.92% |
| RVER Trenchless Fund ETF | 3.51% |
| MVPA Miller Value Partners Appreciation ETF | 3.1% |
| KOOL North Shore Equity Rotation ETF | 2.79% |
| ARKF ARK Fintech Innovation ETF | 2.6% |
| PJFM PGIM Jennison Focused Mid-Cap ETF | 2.59% |
| FDCF Fidelity Disruptive Communications ETF | 2.49% |
| AIEQ Amplify AI Powered Equity ETF | 2.28% |
What could go wrong
- Nearly all revenue comes from advertising. Substantially all revenue comes from ads. Most advertisers have no long-term commitments, and many spend only a small slice of their budgets on Pinterest, so spending can shrink quickly if they pull back.
- A few big advertisers matter a lot. A substantial share of revenue comes from a small number of advertisers, concentrated in retail and consumer packaged goods. Losing a major advertiser, or a key ad agency relationship, could hurt results.
- Much larger rivals compete for attention. Pinterest competes for users and ad dollars with Meta, Google, Amazon, TikTok, Snap, Reddit and OpenAI's ChatGPT. Many are much larger, with far greater financial and staff resources.
- Users could drift away or engage less. The business depends on adding and keeping users. If recommendations feel less relevant, or harmful content and ads slip through, engagement could fall, which could cost advertisers and revenue.
- Privacy rules could weaken ad targeting. Keeping advertisers depends on using data to deliver and measure ads. Privacy laws, ad-blocking tools, and changes to mobile operating systems and browsers Pinterest doesn't control could weaken that.
- Thin margins and uneven profits. Pinterest has had operating losses before and says it may again. Operating profit was 7.6% of revenue in fiscal 2025, and the quarter ended June 30, 2026 showed a $46.7 million net loss.
Recent events
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Executive or board change; Investor presentation or announcement
- Executive or board change
- Executive or board change
- Executive or board change
- Quarterly results released
- Shareholder vote results
- Quarterly results released; Executive or board change
- Major agreement signed; New debt or financial obligation; Unregistered sale of shares
For income and retirement investors
Pinterest pays no dividend and paid none from fiscal 2021 through 2025. For an income investor, that means no regular cash payments: returns depend entirely on the share price, and any income would have to come from selling shares. The company returns cash through buybacks instead, repurchasing its own shares: $500 million in fiscal 2023, $600 million in 2024 and $927 million in 2025. Pinterest says it cannot guarantee the program will be completed or will add long-term value.
The stock has fallen hard in downturns. In the 2020 COVID crash it dropped 53.7%, then regained its peak by June 22, 2020. In the 2022 bear market it fell 52.8% by June 14 and took about 18 months from that low to recover. As of October 27, 2026, the shares were down 41.6% over one year, and their deepest drop from a peak was 82.7%. As a single stock, Pinterest carries more risk than a diversified fund.
Questions investors ask
How does Pinterest make money?
Almost entirely from advertising. Substantially all of Pinterest's revenue comes from ads shown to the 619 million monthly active users reported in its 10-K for 2025. Most ads are priced through an auction. Advertisers pay for brand goals, such as impressions or video views, or for performance goals, such as clicks and checkouts. Revenue was $4.22 billion in fiscal 2025: 72.3% from the U.S. and Canada, 18.5% from Europe and 9.2% from the rest of the world.
Does Pinterest pay a dividend?
No. Pinterest paid no dividends from fiscal 2021 through 2025, so it has no record of dividend increases. It returns cash through buybacks instead, repurchasing its own shares. Those totaled about $2.03 billion over the five years, including $927 million in fiscal 2025. For an income investor, the shares provide no regular cash payments. Any return depends on the share price, which fell 41.6% in the year to October 27, 2026.
Is Pinterest profitable?
Yes, for fiscal 2025, though profits are thin and uneven. Pinterest earned $417 million of net income on $4.22 billion of revenue, down 77.6% from $1.86 billion in 2024. Operating profit was 7.6% of revenue. Free cash flow, the cash left after running and investing in the business, was higher at $1.25 billion. The company lost money in 2020, 2022 and 2023, and it reported a $46.7 million net loss for the quarter ended June 30, 2026.
How volatile is Pinterest stock?
Very. As of October 27, 2026, the shares were down 41.6% over one year and 20.5% since the start of 2026. One-year volatility, a measure of how widely the price swings, was 55.5%. The stock fell 53.7% in the 2020 COVID crash and 52.8% in the 2022 bear market. Its deepest drop from a peak since it began trading was 82.7%. Calendar-year returns ranged from a 253.5% gain in 2020 to a 44.8% loss in 2021.
What is Pinterest's P/E ratio?
About 33.7 as of October 27, 2026, based on fiscal 2025 diluted earnings of $0.61 per share. The price-to-earnings (P/E) ratio shows how many dollars investors pay for each dollar of yearly profit. Pinterest's stock market value was about $11.65 billion on that date. Diluted earnings per share fell from $2.67 in fiscal 2024. That drop pushes the ratio higher than it would be on the earlier year's profit.