PINS PINS

Name: PINS Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored April 5, 2026

Price at analysis: $18.16

Crucible Score

64.3

B-

Quality × Value Composite

KQI — Quality

62.8

C+

Fundamental Quality Index

KVI — Value

66.2

B-

Valuation Attractiveness Index

Crucible Verdict — PINS

Pinterest earns a B- rating driven by an exceptional moat durability score of 82, reflecting its sticky user-generated content platform, though this strength is undermined by weak management effectiveness (45) and poor diversification (29). PINS trades at a 34% discount to fair value despite solid fundamentals, suggesting the market remains skeptical of leadership execution under CEO Bill Ready's performance-heavy compensation structure.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

67.1

Growth Profile⚠

65.3

Moat Durability

81.5

Management Effectiveness

44.6

Diversification & Resilience⚠

29.0

Market Position

58.0

Weakest dimension: Diversification & Resilience (29.0)

◆ KVI Value Dimensions

DCF Margin of Safety

73.3

FCF Yield & Cash Returns

87.6

Relative Valuation

52.7

Growth-Adjusted Value

35.9

Historical Valuation

73.0

Macro Context

55.1

◆ DCF Valuation Scenarios

Bear Case

$14.52

Base Case

$24.38

Bull Case

$38.71

Price at Analysis

$18.16

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$14.52	7.0%	12.0%	9.2%
🟢 Base	$24.38	11.0%	16.0%	8.7%
🟢 Bull	$38.71	15.0%	20.0%	8.2%

Key Assumptions: Revenue growth anchored to 5-year CAGR of ~10% with PINS showing accelerating growth from $2.6B to $4.2B. Operating margins have been volatile (-4% to 8%) but FCF margins are strong (25-30%) due to heavy stock-based compensation; DCF uses GAAP operating margins which remain modest. Tax rate normalized to 15% reflecting expected future profitability with some benefit from prior losses, and capex intensity remains very low at under 1% of revenue consistent with asset-light model.

◆ Financial Snapshot

Profitability

Gross Margin80.1%

Operating Margin7.6%

Net Margin9.9%

ROIC5.4%

ROE-4.5%

Balance Sheet

Balance SheetCR: 7.64

Cash ConversionFCF/EPS: 3.02x

Capital IntensityCapex/Rev: 0.8%

Altman Z-Score11.30 (Safe)

Piotroski F-Score5/9 (Mixed)

Growth

Revenue CAGR13.1% CAGR

Earnings CAGR14.8% CAGR

Growth ConsistencyCV: 0.61

Segment BreadthInsufficient segments

Quarterly TrendMargin∆, Exp↓

Earnings CredibilityMixed

◆ Analyst Consensus & Leadership

Leadership & Governance

CEOBill Ready · 3 years

CEO Ownership34.9%

Compensation97% performance-based

Insider ActivitySelling

Capital AllocationROIC 5.4% vs WACC 9.3%

Earnings Beat Rate69% (16/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted April 5, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.