Pershing Square Inc. (PS) Income Statement
PS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPS revenue and net income
Where PS's revenue goes
2025Each bar shows an amount and its share of revenue. PS kept −28.0% of revenue as net income.
PS profit margins
PS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +64.7% | — | — | — |
| Gross profit | +60.3% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PS quarterly EPS vs estimates
Pershing Square beat the analyst EPS estimate in 2 of the last 2 quarters. Next report: November 11, 2026 (estimate $0.14).
PS income statement
| 2025 | 2024 | |
|---|---|---|
| Revenue | $750.0M | $455.5M |
| Cost of revenue | $40.8M | $13.2M |
| Gross profit | $709.2M | $442.3M |
| Sales, general & admin | $1.06B | $389.1M |
| Total operating expenses | $1.06B | $475.2M |
| Operating income | −$354.3M | −$19.7M |
| Interest income | $4.3M | $28.5M |
| Interest expense | $15.0M | $3.1M |
| Income before taxes | −$233.1M | $18.4M |
| Income taxes | −$54.9M | — |
| Net income | −$210.1M | −$14.2M |
| EBITDA | −$215.8M | $24.2M |
| EPS (diluted) | −$0.53 | — |
| Gross margin | 94.6% | 97.1% |
| Operating margin | −47.2% | −4.3% |
| Net margin | −28.0% | −3.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | |
|---|---|---|---|---|---|---|
| Revenue | $54.2M | $57.5M | $590.8M | $66.2M | $53.2M | $52.3M |
| Cost of revenue | $100.0M | $9.6M | $464.8M | $24.8M | $3.9M | $4.1M |
| Gross profit | −$45.8M | $47.9M | $126.0M | $41.4M | $49.2M | $48.2M |
| Sales, general & admin | $81.2M | $27.4M | — | $16.6M | $15.4M | $25.2M |
| Total operating expenses | $18.4M | $42.8M | $42.3M | $17.2M | $33.0M | $41.9M |
| Operating income | −$64.3M | $5.1M | $83.7M | $24.2M | $20.1M | $10.4M |
| Interest income | $720,789 | $627,946 | — | — | $5.0M | $10.5M |
| Interest expense | $2.5M | $514,296 | $555,079 | $20,288 | $574,480 | $587,986 |
| Income before taxes | −$49.8M | −$157.7M | $85.3M | $162.3M | $34.8M | $21.6M |
| Income taxes | −$9.3M | $857,181 | $17.3M | $1.3M | — | — |
| Net income | −$42.7M | −$147.6M | $50.9M | $155.5M | $23.7M | $19.7M |
| EBITDA | −$29.2M | −$156.6M | $86.4M | $24.8M | $38.2M | $22.8M |
| EPS (diluted) | $0.14 | $0.14 | — | — | — | — |
| Gross margin | −84.6% | 83.3% | 21.3% | 62.5% | 92.6% | 92.1% |
| Operating margin | −118.6% | 8.8% | 14.2% | 36.6% | 37.9% | 19.9% |
| Net margin | −78.8% | −256.6% | 8.6% | 234.9% | 44.5% | 37.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PS's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PS financial results
In fiscal year 2025 (ended December 31, 2025), Pershing Square reported revenue of $750.0 million, up 64.7% from the year before. It had a net loss of $210.1 million, a net profit margin of −28.0%. Diluted earnings per share came to −$0.53.
See the PS stock overview for the latest quote and news, or the PS chart for price history and technical indicators.
PS income statement FAQ
What is Pershing Square's annual revenue?
Pershing Square reported total revenue of $750.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 64.7% from $455.5 million the previous year.
Is Pershing Square profitable?
No. Pershing Square reported a net loss of $210.1 million in fiscal 2025, a net profit margin of −28.0%; its operating margin was −47.2%.
What is Pershing Square's gross margin?
Pershing Square's gross margin was 94.6% in fiscal 2025: for every $100 of revenue, Pershing Square kept $95 after the direct cost of its products and services.
What are Pershing Square's earnings per share?
Pershing Square earned $-0.53 per diluted share in fiscal 2025.
When will Pershing Square report its next earnings?
Pershing Square is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Pershing Square's fiscal year end?
Pershing Square's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.