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Snowflake Inc Financials

SNOW
Source SEC Filings (10-K/10-Q) Updated Mar 20, 2026 Currency USD FYE March

This page shows Snowflake Inc (SNOW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 46 / 100
Financial Profile 46/100

Based on FY2026 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Snowflake Inc has an operating margin of -30.6%, meaning the company retains $-31 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -40.2% the prior year.

Growth
82

Snowflake Inc's revenue surged 29.2% year-over-year to $4.7B, reflecting rapid business expansion. This strong growth earns a score of 82/100.

Leverage
90

Snowflake Inc carries a low D/E ratio of 0.59, meaning only $0.59 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
21

Snowflake Inc's current ratio of 1.30 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.

Cash Flow
85

Snowflake Inc converts 23.9% of revenue into free cash flow ($1.1B). This strong cash generation earns a score of 85/100.

Returns
0

Snowflake Inc generates a -69.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -53.4% the prior year.

Piotroski F-Score Neutral
5/9

Snowflake Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed
-0.92x

For every $1 of reported earnings, Snowflake Inc generates $-0.92 in operating cash flow ($1.2B OCF vs -$1.3B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-173.0x

Snowflake Inc earns $-173.0 in operating income for every $1 of interest expense (-$1.4B vs $8.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$4.7B
YoY+29.2%
5Y CAGR+51.2%

Snowflake Inc generated $4.7B in revenue in fiscal year 2026. This represents an increase of 29.2% from the prior year.

EBITDA
-$1.2B
YoY+4.6%

Snowflake Inc's EBITDA was -$1.2B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.6% from the prior year.

Net Income
-$1.3B
YoY-3.6%

Snowflake Inc reported -$1.3B in net income in fiscal year 2026. This represents a decrease of 3.6% from the prior year.

EPS (Diluted)
$-3.95
YoY-2.3%

Snowflake Inc earned $-3.95 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 2.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$1.1B
YoY+22.6%

Snowflake Inc generated $1.1B in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 22.6% from the prior year.

Cash & Debt
$2.8B
YoY+26.1%
5Y CAGR+34.4%

Snowflake Inc held $2.8B in cash against $1.1B in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
346M
YoY+3.5%
5Y CAGR+3.7%

Snowflake Inc had 346M shares outstanding in fiscal year 2026. This represents an increase of 3.5% from the prior year.

Margins & Returns

Gross Margin
67.2%
YoY+0.7pp
5Y CAGR+8.1pp

Snowflake Inc's gross margin was 67.2% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the prior year.

Operating Margin
-30.6%
YoY+9.5pp
5Y CAGR+61.2pp

Snowflake Inc's operating margin was -30.6% in fiscal year 2026, reflecting core business profitability. This is up 9.5 percentage points from the prior year.

Net Margin
-28.4%
YoY+7.0pp
5Y CAGR+62.6pp

Snowflake Inc's net profit margin was -28.4% in fiscal year 2026, showing the share of revenue converted to profit. This is up 7.0 percentage points from the prior year.

Return on Equity
-69.2%
YoY-15.8pp
5Y CAGR-58.3pp

Snowflake Inc's ROE was -69.2% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 15.8 percentage points from the prior year.

Capital Allocation

R&D Spending
$2.0B
YoY+10.4%
5Y CAGR+52.6%

Snowflake Inc invested $2.0B in research and development in fiscal year 2026. This represents an increase of 10.4% from the prior year.

Share Buybacks
$873.5M
YoY-54.8%

Snowflake Inc spent $873.5M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 54.8% from the prior year.

Capital Expenditures
$101.6M
YoY+119.6%
5Y CAGR+23.7%

Snowflake Inc invested $101.6M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 119.6% from the prior year.

SNOW Income Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Revenue $1.2B+5.9% $1.1B+9.9% $1.0B+5.6% $986.8M+4.7% $942.1M+8.4% $868.8M+4.8% $828.7M+7.0% $774.7M
Cost of Revenue $390.9M+5.1% $371.8M+6.6% $348.8M+4.7% $333.2M+3.8% $320.9M+11.4% $288.1M+5.7% $272.5M+12.7% $241.8M
Gross Profit $822.0M+6.3% $773.2M+11.5% $693.3M+6.1% $653.6M+5.2% $621.2M+7.0% $580.7M+4.4% $556.2M+4.4% $532.9M
R&D Expenses $494.0M+0.4% $492.0M+4.1% $472.4M-4.1% $492.5M+11.3% $442.4M+1.1% $437.7M+6.5% $410.8M+12.7% $364.5M
SG&A Expenses $107.1M-10.3% $119.5M-43.0% $209.6M+82.1% $115.1M+8.3% $106.3M+8.7% $97.8M+5.0% $93.1M+13.5% $82.1M
Operating Income -$329.5M+3.2% -$340.3M+23.9% -$447.3M-15.7% -$386.7M-5.8% -$365.5M-2.9% -$355.3M-1.9% -$348.6M-26.5% -$275.5M
Interest Expense $2.1M0.0% $2.1M+0.1% $2.1M0.0% $2.1M+200.4% $689K $0 $0 N/A
Income Tax $3.7M+5838.7% $62K-98.9% $5.7M+232.3% -$4.3M-323.6% $1.9M-48.8% $3.8M+39.1% $2.7M+163.3% -$4.3M
Net Income -$294.0M+1.4% -$298.0M+30.7% -$430.1M-31.3% -$327.5M-1.0% -$324.3M-2.3% -$316.9M0.0% -$317.0M-87.2% -$169.4M
EPS (Diluted) $-0.87+2.2% $-0.89+31.0% $-1.29 N/A $-0.98-3.2% $-0.950.0% $-0.95 N/A

SNOW Balance Sheet

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Total Assets $8.2B+0.4% $8.2B+0.5% $8.2B-9.7% $9.0B+10.1% $8.2B+18.1% $6.9B-4.9% $7.3B-11.3% $8.2B
Current Assets $4.6B+0.6% $4.6B-4.0% $4.8B-18.5% $5.9B+17.8% $5.0B+27.9% $3.9B-5.9% $4.1B-17.8% $5.0B
Cash & Equivalents $1.9B+3.2% $1.9B-16.2% $2.2B-14.7% $2.6B+22.3% $2.1B+67.6% $1.3B-3.6% $1.3B-24.5% $1.8B
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $938.1M+45.1% $646.7M+21.9% $530.5M-42.5% $922.8M+54.7% $596.4M+38.2% $431.6M+24.9% $345.5M-62.7% $926.9M
Goodwill $1.2B0.0% $1.2B+11.2% $1.1B0.0% $1.1B+6.7% $990.7M+0.7% $984.1M+0.8% $975.9M0.0% $975.9M
Total Liabilities $6.1B+4.8% $5.8B+1.3% $5.7B-4.7% $6.0B+14.4% $5.3B+87.7% $2.8B+2.8% $2.7B-10.0% $3.0B
Current Liabilities $3.4B+9.3% $3.1B+2.2% $3.0B-8.2% $3.3B+24.7% $2.6B+7.4% $2.5B+1.5% $2.4B-11.1% $2.7B
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $2.1B-10.1% $2.4B-1.5% $2.4B-19.7% $3.0B+2.4% $2.9B-29.1% $4.1B-9.4% $4.6B-12.0% $5.2B
Retained Earnings -$9.0B-6.1% -$8.5B-3.6% -$8.2B-12.6% -$7.3B-4.6% -$7.0B-23.9% -$5.6B-14.6% -$4.9B-20.4% -$4.1B

SNOW Cash Flow Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Operating Cash Flow $137.5M+83.6% $74.9M-67.2% $228.4M-47.2% $432.7M+325.5% $101.7M+45.6% $69.9M-80.3% $355.5M+3.2% $344.6M
Capital Expenditures $23.9M+43.4% $16.7M-63.0% $45.0M+298.9% $11.3M-16.1% $13.4M+166.5% $5.0M-69.5% $16.5M+26.4% $13.1M
Free Cash Flow $113.6M+95.1% $58.2M-68.2% $183.4M-56.5% $421.4M+377.5% $88.3M+36.2% $64.8M-80.9% $338.9M+2.2% $331.5M
Investing Cash Flow $248.2M+183.0% -$299.3M-434.5% -$56.0M-124.9% $224.9M+184.2% -$267.1M-169.6% $384.1M+354.1% -$151.2M-128.9% $522.6M
Financing Cash Flow -$362.0M-170.1% -$134.0M+76.2% -$564.1M-369.6% -$120.1M-111.8% $1.0B+307.5% -$490.5M+22.6% -$633.5M-614.8% -$88.6M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $232.9M $0-100.0% $490.6M $0-100.0% $1.0B+154.0% $400.0M-22.5% $516.3M $0

SNOW Financial Ratios

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Gross Margin 67.8%+0.2pp 67.5%+1.0pp 66.5%+0.3pp 66.2%+0.3pp 65.9%-0.9pp 66.8%-0.3pp 67.1%-1.7pp 68.8%
Operating Margin -27.2%+2.6pp -29.7%+13.2pp -42.9%-3.7pp -39.2%-0.4pp -38.8%+2.1pp -40.9%+1.2pp -42.1%-6.5pp -35.6%
Net Margin -24.2%+1.8pp -26.0%+15.2pp -41.3%-8.1pp -33.2%+1.2pp -34.4%+2.1pp -36.5%+1.8pp -38.3%-16.4pp -21.9%
Return on Equity -13.8%-1.2pp -12.6%+5.3pp -17.9%-6.9pp -10.9%+0.2pp -11.1%-3.4pp -7.7%-0.7pp -7.0%-3.7pp -3.3%
Return on Assets -3.6%+0.1pp -3.6%+1.6pp -5.3%-1.6pp -3.6%+0.3pp -4.0%+0.6pp -4.6%-0.2pp -4.3%-2.3pp -2.1%
Current Ratio 1.37-0.1 1.48-0.1 1.58-0.2 1.78-0.1 1.88+0.3 1.58-0.1 1.71-0.1 1.85
Debt-to-Equity 2.86+0.4 2.45+0.1 2.38+0.4 2.01+0.2 1.80+1.1 0.68+0.1 0.60+0.0 0.59
FCF Margin 9.4%+4.3pp 5.1%-12.5pp 17.6%-25.1pp 42.7%+33.3pp 9.4%+1.9pp 7.5%-33.4pp 40.9%-1.9pp 42.8%

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Frequently Asked Questions

Snowflake Inc (SNOW) reported $4.7B in total revenue for fiscal year 2026. This represents a 29.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Snowflake Inc (SNOW) revenue grew by 29.2% year-over-year, from $3.6B to $4.7B in fiscal year 2026.

No, Snowflake Inc (SNOW) reported a net income of -$1.3B in fiscal year 2026, with a net profit margin of -28.4%.

Snowflake Inc (SNOW) reported diluted earnings per share of $-3.95 for fiscal year 2026. This represents a -2.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Snowflake Inc (SNOW) had EBITDA of -$1.2B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2026, Snowflake Inc (SNOW) had $2.8B in cash and equivalents against $1.1B in long-term debt.

Snowflake Inc (SNOW) had a gross margin of 67.2% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

Snowflake Inc (SNOW) had an operating margin of -30.6% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Snowflake Inc (SNOW) had a net profit margin of -28.4% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Snowflake Inc (SNOW) has a return on equity of -69.2% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Snowflake Inc (SNOW) generated $1.1B in free cash flow during fiscal year 2026. This represents a 22.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Snowflake Inc (SNOW) generated $1.2B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Snowflake Inc (SNOW) had $9.1B in total assets as of fiscal year 2026, including both current and long-term assets.

Snowflake Inc (SNOW) invested $101.6M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Snowflake Inc (SNOW) invested $2.0B in research and development during fiscal year 2026.

Yes, Snowflake Inc (SNOW) spent $873.5M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Snowflake Inc (SNOW) had 346M shares outstanding as of fiscal year 2026.

Snowflake Inc (SNOW) had a current ratio of 1.30 as of fiscal year 2026, which is considered adequate.

Snowflake Inc (SNOW) had a debt-to-equity ratio of 0.59 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Snowflake Inc (SNOW) had a return on assets of -14.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Snowflake Inc (SNOW) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Snowflake Inc (SNOW) has an earnings quality ratio of -0.92x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Snowflake Inc (SNOW) has an interest coverage ratio of -173.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Snowflake Inc (SNOW) scores 46 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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