Pinterest, Inc. (PINS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-71.7%

$5.69

vs $20.11 price

Levered DCF

$35.90

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.15

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	41.76×	10.58×	-701.52×	-173.43×	74.18×	-299.55×	-5.75×	-203.33×
P/B	3.68×	4.14×	8.09×	4.93×	7.66×	17.52×	3.87×	14.83×
P/S	4.14×	5.4×	8.18×	5.77×	9.02×	23.21×	6.86×	17.09×
EV / EBITDA	35.58×	60.66×	4,699.25×	-609.64×	61.74×	-434.13×	-5.57×	-317.98×
Gross margin	80.1%	79.4%	77.5%	75.8%	79.5%	73.5%	68.6%	68.0%
Operating margin	7.6%	4.9%	-4.1%	-3.6%	12.7%	-8.4%	-121.5%	-9.9%
Net margin	9.9%	51.1%	-1.2%	-3.4%	12.3%	-7.6%	-119.1%	-8.3%
Current ratio	7.64×	8.75×	10.53×	9.08×	12.25×	11.51×	11.74×	8.2×
Debt / equity	0.06×	0.04×	0.06×	0.07×	0.08×	0.08×	0.11×	0.17×
Interest coverage	0×	0×	0×	-6.68×	34.63×	-224.42×	-649.91×	-75.1×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.8%	39.2%	-1.2%	-2.9%	10.4%	-5.7%	-67.3%	-7.2%
Return on invested capital	5.9%	3.6%	-3.8%	-2.9%	9.7%	-5.8%	-61.4%	-6.9%
Return on assets	7.6%	34.9%	-1.0%	-2.5%	8.9%	-4.9%	-56.9%	-5.3%
Free cash flow yield	7.2%	4.8%	2.4%	2.7%	3.2%	0.0%	-0.4%	-0.6%
Earnings yield	2.4%	9.5%	-0.1%	-0.6%	1.4%	-0.3%	-17.4%	-0.5%
Enterprise value	$16.8B	$18.7B	$23.8B	$14.8B	$22.1B	$38.8B	$7.4B	$12.9B
Net debt / EBITDA	-1.5×	-3.08×	-230.46×	57.05×	-3.27×	5.41×	0.32×	-0.71×
Cash conversion cycle (days)	30	49	49	41	80	81	66	74