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Snowflake Inc. (SNOW) stock

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NYSE: SNOW NYSE Application Software Next results ~December 2, 2026

C+ Fundamentals grade

Snowflake provides a cloud platform it calls the AI Data Cloud, which lets organisations consolidate data into a single store, query it, apply artificial intelligence, and build and share data applications. It handles structured, semi-structured and unstructured data. Named features include Snowpark, a developer framework supporting languages such as Python and Java; Snowflake Postgres; Snowflake Intelligence, for building data agents; and the Snowflake Marketplace, where data sets and applications are shared and sold.

Customers are organisations of all sizes across industries, with offerings tailored to sectors such as financial services, healthcare, retail and the public sector. Snowflake uses a consumption-based model, so customers pay for what they process, store and share rather than a fixed licence. As of 31 January 2026 it had 13,328 customers, including 790 of the Forbes Global 2000.

The platform's product categories cover data engineering, analytics, transactions, AI, applications and collaboration. It runs on three public clouds — Amazon Web Services, Microsoft Azure and Google Cloud Platform — across 53 regional deployments worldwide. Sales run mainly through direct teams based in North America, with teams for Europe and Asia-Pacific, alongside resellers, distributors and self-service trials.

Based on Snowflake Inc.'s 10-K filed March 20, 2026.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$66

Revenue-to-maturity model

Base case. Range ~$53–$81. Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Snowflake Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Snowflake files

Where Snowflake stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $5.43bn, up 32.0% on a year earlier, faster than 31.1% a quarter earlier. That growth ranks 5 of 27 among the application software companies we cover. Free-cash-flow margin rose to 22.0% from 18.3% a year earlier. Operating margin widened to -22.8% from -37.4%. The diluted share count is up 2.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 3 financial-health checks. Our revenue-to-maturity cash-flow model value is $94.73 a share, against a share price of $322.

Source: 10-Q filed September 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 2, 2026 (estimated)

Snowflake Inc.'s trailing-twelve-month revenue grew 32.0% year on year, with a free-cash-flow margin of 22.0%. Where it stands out: revenue growth of 32.0% ranks 24 of 184 application software companies we cover. Where it lags: stock pay as % of revenue of 30.2% ranks 157 of 177 application software companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 59.1% while net income grew 20.9%: a 38pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 32.0% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Margins widening. Operating margin is up 14.7 points on a year ago.
  • Strong cash generation. 22.0% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Net cash. Cash exceeds long-term debt by $1.7bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Loss-making. Operating margin is -22.8%: costs exceed revenue.
  • Heavy stock-based pay. Stock pay equals 30.2% of revenue, against a median of 9.3% for application software companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 2.9% in a year.
  • High sales multiple. The shares trade at 19 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 66% and a beta of 1.4 against the S&P 500.
  • Insiders selling. 9 insiders sold $1,301M of stock over the past 365 days and none bought (96% under pre-set trading plans).

Latest results: FY2027 Q2

Filed September 4, 2026
Earnings per share
$0.62 against an average estimate of $0.45: beat by 38.7%
Revenue
$1.55bn, up 35.1% on a year earlier
Share reaction
+11.5% in the first session after the results on September 2, 2026, against +1.5% for the S&P 500
Guidance given
product revenue $1,588m to $1,593m (third quarter of fiscal 2027); non-GAAP operating margin 15.5% (third quarter of fiscal 2027)
Next report
December 2, 2026; average EPS estimate $0.60

Snowflake's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.4%
  • 1 week-9.9%
  • 1 month-11.5%
  • This year+37.6%
  • 1 year+9.8%
  • 5 years-14.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$5.4B
Operating margin
-22.8%
Net margin
-20.1%
EPS (TTM, diluted)
$-3.17

Growth

Revenue growth
+32.0%
Change in growth rate
+1.0 pts

Cash

Free cash flow (TTM)
$1.2B
FCF margin
22.0%
Stock pay % of revenue
30.2%

Earnings

Last results
September 2, 2026
Next results (est.)
December 2, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Results
  4. Product

    Snowflake becomes native service on Oracle Cloud

    Oracle and Snowflake Inc. said the Snowflake AI Data Cloud will now operate as a first-party service on Oracle Cloud Infrastructure. The arrangement, announced on 27 October 2026, allows customers to purchase and provision the platform directly through Oracle. Users can apply Oracle Universal Credits to simplify billing for the new offering.

    Company releaseRead source ↗
  5. Insider trade
  6. Insider trade
  7. Announcement
  8. Insider trade
  9. Announcement

    Snowflake sets dates for free virtual AI event

    Snowflake Inc. said it will host its annual virtual event from 3 to 5 November 2026 in the Americas and 4 to 6 November globally. Registration is free and open to all attendees. The company noted that Microsoft CEO Satya Nadella will join Snowflake CEO Sridhar Ramaswamy for a fireside chat on the first day.

    Company releaseRead source ↗
  10. Agreement
  11. Insider trade
  12. Insider trade
  13. Financing
  14. Financing
  15. Insider trade
  16. Results
  17. Guidance
  18. Announcement
  19. Results
  20. Announcement
  21. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Snowflake Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Snowflake Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.19 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$42 ~$23–$58 Left out: out of range vs price (0.14x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$42 ~$35–$70 Left out: out of range vs price (0.14x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.7 ~$43–$120 Left out: out of range vs price (0.02x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$66 ~$53–$81 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$66 ~$53–$81 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Snowflake Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202120222023202420252026Now
Share price$272.45$275.90$156.44$195.64$181.51$192.70$301.73
Market value$38.6bn$82.8bn$49.9bn$64.2bn$60.4bn$65.0bn$103.9bn
+ Net debt (− = net cash)−$820m−$1.1bn−$940m−$1.8bn−$2.6bn−$2.8bn$577m
Enterprise value$37.8bn$81.8bn$48.9bn$62.4bn$57.8bn$62.2bn$104.4bn
Multiples
Price / sales 65.2x67.9x24.1x22.9x16.7x13.9x19.1x
Price / earnings ———————
Price / free cash flow —n/m95.8x78.9x66.1x58.1x86.9x
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

54 /100

Moderate moat

How hard Snowflake's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.3% of total assets over 6 years.

  • Pricing power 19 / 20

    Gross margin has been a median 66.3%, moving by 3.2 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median -41.1%; its worst year was -91.1%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 5 of 6 years, at a median 20.9% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (69 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 2, 2026, after the close. Analysts expect revenue of $1.7bn and EPS of $0.60 (range $0.54 to $0.75) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.22 +78% $6.3bn +35%
Next $3.03 +36% $8.1bn +29%

Next year's EPS estimate has moved +12.5% in 90 days, across 48 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +15.0% on 90 days ago. In the last 30 days, 43 analysts raised Snowflake Inc.'s forecast and 1 cut it.

Consensus EPS forecast Snowflake Inc., last 90 days
$1.50 $2.00 $2.50 $3.00 $3.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.93 Current fiscal year, 60 days ago: $1.94 Current fiscal year, 30 days ago: $2.22 Current fiscal year, 7 days ago: $2.22 Current fiscal year, Now: $2.22 $2.22 Next fiscal year, 90 days ago: $2.69 Next fiscal year, 60 days ago: $2.71 Next fiscal year, 30 days ago: $3.01 Next fiscal year, 7 days ago: $3.02 Next fiscal year, Now: $3.03 $3.03

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.93$2.69
60 days ago $1.94$2.71
30 days ago $2.22$3.01
7 days ago $2.22$3.02
Now $2.22$3.03

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.45 $0.62 +38.7%
Apr 2026 $0.32 $0.39 +21.9%
Jan 2026 $0.27 $0.32 +17.8%
Oct 2025 $0.31 $0.35 +12.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 2, 2026
  • Non-GAAP product gross margin full-year of fiscal 2027 about 74% Non-GAAP
    “Non-GAAP product gross margin 2 of 74.0%” source
  • Non-GAAP operating margin full-year of fiscal 2027 about 14.5% Non-GAAP Raised
    “Non-GAAP operating margin 2 of 14.5%, up from previous guidance of 13.5%” source
  • Non-GAAP operating margin third quarter of fiscal 2027 about 15.5% Non-GAAP
    “Non-GAAP operating margin 2 of 15.5%” source
  • Product revenue full-year of fiscal 2027 about $6,070m Raised
    “Product revenue of $6,070 million, representing 36% year-over-year growth, up from previous guidance of $5,840 million, or 31% year-over-year growth” source
  • Non-GAAP adjusted free cash flow margin full-year of fiscal 2027 about 23% Non-GAAP
    “Non-GAAP adjusted free cash flow margin 2 of 23.0%” source
  • Non-GAAP weighted-average diluted shares full-year of fiscal 2027 about 380m Non-GAAP
    “Non-GAAP weighted-average shares used in computing net income per share attributable to common stockholders-diluted 2,3 of 380 million” source
Show 3 more items
  • full-year product revenue growth guidance full-year about 36% growth Raised
    “Balancing growth with discipline remains a top priority, and we are raising our full-year product revenue growth guidance to 36% year-over-year.” source
  • Product revenue third quarter of fiscal 2027 $1,588m to $1,593m
    “Product revenue of $1,588 million to $1,593 million, representing 37% to 38% year-over-year growth” source
  • Non-GAAP weighted-average diluted shares third quarter of fiscal 2027 about 382m Non-GAAP
    “Non-GAAP weighted-average shares used in computing net income per share attributable to common stockholders-diluted 2,3 of 382 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

52 analysts, Nov 2026
Buy4688%
Hold510%
Sell12%

Monthly trend

  1. Nov 20261036552
  2. Oct 2026936652
  3. Sep 2026935551

Counts of recommendations published by analysts covering Snowflake Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
4.39
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
81%
of shares
Held by insiders
2.9%
of shares
Employees
9,394
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +9.8%

$274.88 on October 31, 2025 to $301.73

ThenNowEffect
Revenue (last 12 months) $4.1bn $5.4bn +32.0%
P/S multiple 22.3x 19.1x −14.2%
Share count 333m 344m −3.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +101.2%

$149.99 on November 3, 2023 to $301.73

ThenNowEffect
Revenue (last 12 months) $2.4bn $5.4bn +122.4%
P/S multiple 19.9x 19.1x −3.7%
Share count 323m 344m −6.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SNOW+20%−58%+39%−22%+42%+38%
Industry peers (median)−8%−50%+19%+2%−21%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SNOW50%33%50%17%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SNOW−40%−67%−26%−54%−32%−48%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 16, 2020: 73% from November 16, 2021 to September 6, 2024. Getting back needed a 270% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$121.11 – $368.89
From 52-week high
−18.2%
vs 50-day average
−9.0%
vs 200-day average
+25.9%
Volatility (1 year)
66%
Beta vs S&P 500
1.42

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±15.2%
After a week
8 up, 4 down
typical move ±15.9%
After a month
7 up, 5 down
typical move ±17.7%
Results releasedNext dayS&P 500 next day5 days21 days
September 2, 2026 +11.5% +1.5% +3.1% +6.6%
May 27, 2026 +34.7% +0.5% +35.9% +40.2%
February 25, 2026 +7.5% +0.3% +4.5% +0.8%
December 3, 2025 −9.6% +0.4% −16.6% −13.6%
August 27, 2025 +24.0% +0.6% +14.2% +15.6%
May 21, 2025 +11.1% −1.6% +10.6% +16.9%
February 26, 2025 +5.8% −1.5% +8.0% −4.4%
November 20, 2024 +31.6% +0.6% +33.4% +27.7%
August 21, 2024 −12.7% −0.4% −15.4% −16.4%
May 22, 2024 −5.0% −1.0% −13.4% −23.3%
February 28, 2024 −19.5% +0.2% −28.6% −30.9%
November 29, 2023 +9.4% +0.3% +7.5% +16.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Snowflake Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Snowflake Inc.
$2B $3B $4B $5B $6B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $2.6B Revenue (TTM), FY24 Q4: $2.8B Revenue (TTM), FY25 Q1: $3B Revenue (TTM), FY25 Q2: $3.2B Revenue (TTM), FY25 Q3: $3.4B Revenue (TTM), FY25 Q4: $3.6B Revenue (TTM), FY26 Q1: $3.8B Revenue (TTM), FY26 Q2: $4.1B Revenue (TTM), FY26 Q3: $4.4B Revenue (TTM), FY26 Q4: $4.7B Revenue (TTM), FY27 Q1: $5B Revenue (TTM), FY27 Q2: $5.4B $5.4B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $2.6B
FY24 Q4 $2.8B
FY25 Q1 $3B
FY25 Q2 $3.2B
FY25 Q3 $3.4B
FY25 Q4 $3.6B
FY26 Q1 $3.8B
FY26 Q2 $4.1B
FY26 Q3 $4.4B
FY26 Q4 $4.7B
FY27 Q1 $5B
FY27 Q2 $5.4B
Revenue growth, TTM YoY Snowflake Inc.
25% 30% 35% 40% 45% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 40.9% Revenue growth, TTM YoY, FY24 Q4: 35.9% Revenue growth, TTM YoY, FY25 Q1: 32.9% Revenue growth, TTM YoY, FY25 Q2: 31.2% Revenue growth, TTM YoY, FY25 Q3: 30.3% Revenue growth, TTM YoY, FY25 Q4: 29.2% Revenue growth, TTM YoY, FY26 Q1: 27.5% Revenue growth, TTM YoY, FY26 Q2: 28.4% Revenue growth, TTM YoY, FY26 Q3: 28.5% Revenue growth, TTM YoY, FY26 Q4: 29.2% Revenue growth, TTM YoY, FY27 Q1: 31.1% Revenue growth, TTM YoY, FY27 Q2: 32.0% 32.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 40.9%
FY24 Q4 35.9%
FY25 Q1 32.9%
FY25 Q2 31.2%
FY25 Q3 30.3%
FY25 Q4 29.2%
FY26 Q1 27.5%
FY26 Q2 28.4%
FY26 Q3 28.5%
FY26 Q4 29.2%
FY27 Q1 31.1%
FY27 Q2 32.0%
Operating margin (TTM) Snowflake Inc.
-60% -40% -20% 0% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: -40.4% Operating margin (TTM), FY24 Q4: -39.0% Operating margin (TTM), FY25 Q1: -38.9% Operating margin (TTM), FY25 Q2: -38.7% Operating margin (TTM), FY25 Q3: -39.4% Operating margin (TTM), FY25 Q4: -40.2% Operating margin (TTM), FY26 Q1: -40.5% Operating margin (TTM), FY26 Q2: -37.4% Operating margin (TTM), FY26 Q3: -34.3% Operating margin (TTM), FY26 Q4: -30.6% Operating margin (TTM), FY27 Q1: -26.1% Operating margin (TTM), FY27 Q2: -22.8% -22.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 -40.4%
FY24 Q4 -39.0%
FY25 Q1 -38.9%
FY25 Q2 -38.7%
FY25 Q3 -39.4%
FY25 Q4 -40.2%
FY26 Q1 -40.5%
FY26 Q2 -37.4%
FY26 Q3 -34.3%
FY26 Q4 -30.6%
FY27 Q1 -26.1%
FY27 Q2 -22.8%
FCF margin (TTM) Snowflake Inc.
15% 20% 25% 30% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 26.5% FCF margin (TTM), FY24 Q4: 29.0% FCF margin (TTM), FY25 Q1: 28.5% FCF margin (TTM), FY25 Q2: 26.4% FCF margin (TTM), FY25 Q3: 24.1% FCF margin (TTM), FY25 Q4: 25.2% FCF margin (TTM), FY26 Q1: 19.7% FCF margin (TTM), FY26 Q2: 18.3% FCF margin (TTM), FY26 Q3: 17.7% FCF margin (TTM), FY26 Q4: 23.9% FCF margin (TTM), FY27 Q1: 23.2% FCF margin (TTM), FY27 Q2: 22.0% 22.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 26.5%
FY24 Q4 29.0%
FY25 Q1 28.5%
FY25 Q2 26.4%
FY25 Q3 24.1%
FY25 Q4 25.2%
FY26 Q1 19.7%
FY26 Q2 18.3%
FY26 Q3 17.7%
FY26 Q4 23.9%
FY27 Q1 23.2%
FY27 Q2 22.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Jan 2019 2020 Jan 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Jan 2025 2026 Jan 2026 LTM Jul 2026
Income
Revenue 97 265 592 1,219 2,066 2,806 3,626 4,684 5,435
Gross profit 45 148 349 761 1,348 1,908 2,412 3,146 3,643
EBITDA −184 −355 −534 −694 −779 −975 −1,274 −1,215 −1,055
Operating income −185 −358 −544 −715 −842 −1,095 −1,456 −1,435 −1,237
Net income −178 −349 −539 −680 −797 −836 −1,286 −1,332 −1,091
Diluted EPS −$1.56 −$2.59 −$3.81 −$2.26 −$2.50 −$2.55 −$3.86 −$3.95 −$3.17
Growth (year on year)
Revenue — +173.9% +123.6% +106.0% +69.4% +35.9% +29.2% +29.2% +32.0%
Margins
Gross margin 46.5% 56.0% 59.0% 62.4% 65.3% 68.0% 66.5% 67.2% 67.0%
EBITDA margin −190.5% −133.9% −90.2% −56.9% −37.7% −34.7% −35.1% −25.9% −19.4%
Operating margin −191.9% −135.3% −91.9% −58.6% −40.8% −39.0% −40.2% −30.6% −22.8%
Net margin −184.2% −131.6% −91.1% −55.8% −38.6% −29.8% −35.5% −28.4% −20.1%
Free-cash-flow margin −151.1% −73.7% −13.6% 7.7% 25.2% 29.0% 25.2% 23.9% 22.0%
Cash flow
Cash from operations −144 −177 −45 110 546 848 960 1,222 1,253
Capital spending 2 19 35 16 25 35 46 102 58
Free cash flow −146 −195 −80 94 521 813 913 1,120 1,195
Stock-based pay 22 78 301 605 862 1,168 1,479 1,600 1,642
Free cash flow after stock pay −168 −274 −382 −511 −341 −355 −566 −479 −447
Balance sheet
Cash 117 127 820 1,086 940 1,763 2,629 2,828 1,707
Total debt 0 — — — — — — — 2,284
Net debt (negative = net cash) −117 −127 −820 −1,086 −940 −1,763 −2,629 −2,828 577
Diluted shares 114m 135m 142m 300m 319m 328m 333m 337m 344m
Returned to shareholders
Buybacks 30 0 0 0 0 592 1,932 874 683
Total returned 30 0 0 0 0 592 1,932 874 683

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 3 checks passed · July 31, 2026
What it owns · $8.7bn
Short-term assets $3.5bnLonger-term assets $5.2bn
What it owes, and who funded it · $8.7bn
Short-term liabilities $3.7bnLonger-term liabilities $2.8bnShareholders' equity $2.1bn
  • Short-term assets cover short-term liabilities $3.5bn of assets due within a year against $3.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.5bn short-term assets against $2.8bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$1.2bn against $8m of interest.

From Snowflake Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$683M
Returned to shareholders
57%
of free cash flow
Buybacks, last 3 fiscal years
$3.4B
Total shareholder yield
0.7%
dividends 0.0% + buybacks 0.7% of market value
R&D spending
38.8%
of revenue
Days sales outstanding
48 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated SNOW ZM CDNS SSNC TEAM TOST Median
Revenue, last 12 months $5.4bn $5.0bn $6.1bn $6.6bn $6.6bn $6.8bn $482m
Revenue growth, last 12 months 32.0% 5.0% 17.6% 8.6% 26.0% 23.0% 12.0%
Revenue growth, 3-year average 30.5% 3.8% 16.1% 6.8% 23.0% 27.1% 11.1%
Revenue growth, latest quarter 35.1% 4.9% 22.0% 10.3% 27.6% 23.1% 11.9%
Gross margin 67.0% 77.3% — 48.1% 84.8% 26.7% 69.2%
Operating margin −22.8% 23.7% 28.9% 23.6% 0.2% 6.3% 1.1%
Operating margin, 3-year average −32.9% 20.1% 28.6% 23.2% −1.7% 2.0% −0.8%
Net margin −20.1% 65.2% 22.5% 13.2% −0.8% 7.1% 2.1%
Cash from operations / revenue 23.1% 40.1% 32.1% 27.7% 20.6% 9.3% 18.2%
Free-cash-flow margin 22.0% 38.6% 28.8% 26.7% 20.1% 8.5% 15.0%
Free-cash-flow margin, 3-year average 22.2% 38.3% 26.3% 23.3% 26.6% 7.2% 16.2%
Stock pay / revenue 30.2% 14.6% 8.9% 4.1% 24.4% 3.4% 9.3%
Change in share count 2.9% −3.5% 0.3% −2.1% −0.6% −1.1% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 32.0% 12.0% 24 of 184
Change in growth rate Growth +1.0pp +0.2pp 74 of 184
Gross margin Profitability 67.0% 69.8% 86 of 160
Operating margin Profitability -22.8% 1.1% 135 of 181
Net margin Profitability -20.1% 2.1% 136 of 185
Free-cash-flow margin Cash generation 22.0% 15.2% 68 of 180
Stock pay as % of revenue Cash generation 30.2% 9.3% 157 of 177
Days sales outstanding Balance sheet 48 days 57 days 62 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Products and services
Line of business Revenue Share YoY
Products $4.5B 95.5% ▲ 29.2%
Professional Services and Other $212M 4.5% ▲ 29.1%
Geography
Region Revenue Share YoY
United States $3.5B 75.2% ▲ 27.6%
EMEA $764M 16.3% ▲ 32.9%
Asia Pacific and Japan $271M 5.8% ▲ 44.1%
Other Americas $125M 2.7% ▲ 22.9%

From Snowflake Inc.'s 10-K filed March 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$70.1B
Institutions reporting
1,452
Shares held vs prior quarter
▲ 9.1%
Positions opened / closed
302 / 136

Top buyers and sellers, Q2 2026: 822 institutions bought and 611 sold ; the biggest buyer was Price T Rowe Associates Inc (+3.9M shares) and the biggest seller Morgan Stanley (−3.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $8B 31.4M 11.4% ▲ 12.3%
Vanguard Capital Management LLC $3.8B 15.1M 5.5% ▲ 2.0%
Vanguard Portfolio Management LLC $3.3B 12.9M 4.7% ▲ 0.3%
Jpmorgan Chase & Co $2.3B 9.2M 3.3% ▼ 17.6%
State Street Corp $2B 8.0M 2.9% ▲ 3.9%
FMR LLC $1.9B 7.7M 2.8% ▼ 28.8%
Geode Capital Management, LLC $1.6B 6.4M 2.3% ▲ 33.6%
Jennison Associates LLC $1.6B 6.3M 2.3% ▼ 11.5%
Price T Rowe Associates Inc $1.4B 5.3M 1.9% ▲ 264.2%
Wellington Management Group LLP $1.3B 5.2M 1.9% ▼ 3.7%
Franklin Resources Inc $1.2B 4.7M 1.7% ▲ 66.2%
Nuveen, LLC $1.2B 4.7M 1.7% ▲ 39.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Snowflake Inc.'s complete shareholder register. Values are as reported by the filers ; 9 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.3B 342 trades by 9 insiders · 96% under pre-set plans
Net ▼ $1.3B net selling
Insider Date Trade Shares Price Value
Dageville Benoit Director October 21, 2026 Sell pre-set plan 50,000 $321.74 $16.1M
Slootman Frank Director October 19, 2026 Sell pre-set plan 6,310 $320.00 $2M
Slootman Frank Director October 19, 2026 Sell pre-set plan 14,510 $319.17 $4.6M
Slootman Frank Director October 19, 2026 Sell pre-set plan 39,298 $318.26 $12.5M
Slootman Frank Director October 19, 2026 Sell pre-set plan 82,420 $317.36 $26.2M
Slootman Frank Director October 19, 2026 Sell pre-set plan 68,376 $316.32 $21.6M
Slootman Frank Director October 19, 2026 Sell pre-set plan 40,896 $315.34 $12.9M
Slootman Frank Director October 19, 2026 Sell pre-set plan 22,761 $314.46 $7.2M
Slootman Frank Director October 19, 2026 Sell pre-set plan 4,250 $312.86 $1.3M
Slootman Frank Director October 19, 2026 Sell pre-set plan 11,959 $312.40 $3.7M
Slootman Frank Director October 19, 2026 Sell pre-set plan 9,220 $311.06 $2.9M
Dageville Benoit Director October 7, 2026 Sell pre-set plan 50,000 $333.42 $16.7M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 19 trades and filings

In the last 12 months, 2 members of Congress disclosed 3 purchases and 1 sale of Snowflake Inc. shares.

  • Maria Elvira Salazar(R-FL 27):Sale (partial), $1,001 - $15,000, traded September 24, 2026, filed October 7, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $15,001 - $50,000, traded September 4, 2026, filed October 7, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $1,001 - $15,000, traded September 4, 2026, filed October 7, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 2, 2026 estimated from the company's past filing pattern, not announced

  • September 2, 2026
  • May 27, 2026
  • February 25, 2026
  • December 3, 2025
  • August 27, 2025
  • May 21, 2025

Recent SEC filings

Data status

When each part of this page on Snowflake Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Snowflake Inc. in brief

What does Snowflake Inc. do?
Snowflake Inc. is a US-listed company in the application software industry. Its financial year ends in January.
What is Snowflake Inc.'s stock ticker?
Snowflake Inc. trades under the ticker SNOW on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Snowflake Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Snowflake Inc. reported revenue of $5.4B, 32.0% higher than a year earlier, according to its SEC filings.
What is Snowflake Inc.'s free cash flow?
Snowflake Inc.'s free-cash-flow margin is 22.0% of revenue over the trailing twelve months, ranking 68 of the 180 application software companies we cover.
Who are Snowflake Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Snowflake Inc.'s market cap?
On November 2, 2026, Snowflake Inc.'s market capitalisation was about $104B and net debt of $577M. Market figures come from third-party market data and may be delayed.
Who are Snowflake Inc.'s competitors?
In our Application Software peer group, the companies closest to Snowflake Inc. are Zoom Communications, Inc., Cadence Design Systems Inc, SS&C Technologies Holdings Inc, Atlassian Corp and Toast, Inc. The side-by-side comparison below sets their revenue, margins and growth against Snowflake Inc.'s.
Are insiders buying or selling Snowflake Inc. stock?
Over the last 12 months, Snowflake Inc.'s directors and officers reported 0 open-market purchases and 342 sales on Form 4. The insider trading page charts every trade.
When is Snowflake Inc.'s next earnings date?
Around December 2, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Snowflake Inc. announces its own schedule.