SNOWNYSEServices-Prepackaged SoftwareFiscal year ends January 31
Snowflake Inc.
Financials through Q2 FY2027, quarter ended Jul 31, 2026Last filing: 10-Q on Sep 4, 2026
$315.35+8.51 (+2.77%)
Close on Oct 19, 2026
- Market cap
- $110.14B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2026
Gross margin
67.2%+8.1 pts over 5 years
Operating margin
-30.6%+61.2 pts over 5 years
Net margin
-28.4%+62.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +29.2% | +31.4% | +51.2% | – | |
| Gross profit | +30.5% | +32.6% | +55.2% | – | |
| Free cash flow | +22.6% | +29.1% | – | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | -24.6% | -54.1% | |
| Return on assets | – | -15.5% | -14.7% | |
| Current ratio | – | 5.45 | 1.30 | |
| Interest coverage | – | – | -173.0× | |
| Capex to revenue | – | 5.9% | 2.2% | |
| Diluted shares | – | 142M | 337M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Snowflake generated $3.69B from operations and spent $3.62B on capital expenditure, dividends and share buybacks. 6% of that went back into the business.
Generated
$3.69B
Used
$3.62B
Capital expenditure$224.34M6%Dividends$00%Share buybacks$3.40B94%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-28.4%
×Asset turnover0.52×
×Equity multiplier3.69×
=Return on equity, FY2026-54.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -28.4% | 0.52× | 3.69× | -54.1% |
| FY2025 | -35.5% | 0.42× | 2.11× | -31.4% |
| FY2024 | -29.8% | 0.35× | 1.50× | -15.7% |
| FY2023 | -38.6% | 0.29× | 1.37× | -15.2% |
| FY2022 | -55.8% | 0.19× | 1.26× | -13.6% |
| FY2021 | -91.1% | 0.17× | 1.58× | -24.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero-$1.33B
- Cash generatingOperating cash flow above zero$1.22B
- Return on assets improvedROA up on the prior year-15.6% → -14.7%
- Earnings backed by cashOperating cash flow above net income$1.22B vs -$1.33B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.78 → 1.30
- No dilutionShare count did not rise333M → 337M
- Gross margin improvedGross margin up on the prior year66.50% → 67.17%
- More efficientAsset turnover rose0.44 → 0.52