Snowflake Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Snowflake Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	96.7	265	592	1,219	2,066	2,806	3,626	4,684
Cost of revenue	51.8	117	243	458	718	899	1,215	1,538
Gross profit	44.9	148	349	761	1,348	1,908	2,412	3,146
Research and development	68.7	105	238	467	788	1,288	1,783	1,969
Selling and marketing	126	294	479	744	1,107	1,392	1,672	2,062
General and administrative	36.1	108	176	265	296	323	412	550
Operating expenses	230	506	893	1,476	2,190	3,003	3,868	4,581
Operating income	-185	-358	-544	-715	-842	-1,095	-1,456	-1,435
Interest expense					0	0	2.76	8.3
Other non-operating income	-0.5	-1.01	-0.61	28.9	-47.6	44.9	-35.3	-59
Pre-tax income	-177	-348	-537	-677	-816	-849	-1,285	-1,312
Income tax	0.82	0.99	2.06	2.99	-18.5	-11.2	4.11	17.1
Net income to minority interests			0	0	-0.82	-1.89	-3.57	2.58
Net income	-178	-349	-539	-680	-797	-836	-1,286	-1,332
EBITDA	-184	-355	-534	-694	-779	-975	-1,274	-1,215
EPS, basic	-4.67	-7.77	-3.81	-2.26	-2.50	-2.55	-3.86	-3.95
EPS, diluted	-4.67	-7.77	-3.81	-2.26	-2.50	-2.55	-3.86	-3.95
Shares, basic (weighted)	38.2	44.8	142	300	319	328	333	337
Shares, diluted (weighted)	38.2	44.8	142	300	319	328	333	337

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	117	127	820	1,086	940	1,763	2,629	2,828
Short-term investments		307	3,088	2,766	3,068	2,083	2,009	1,202
Receivables		179	294	546	716	927	923	1,304
Other current assets		25.3	66.2	150	193	180	211	195
Total current assets		665	4,301	4,599	4,985	5,039	5,869	5,743
Property, plant and equipment		27.1	69	105	161	247	296	249
Lease right-of-use assets		196	187	190	231	252	359	275
Goodwill	0	7.05	8.45	8.45	657	976	1,057	1,194
Intangible assets		4.8	16.1	37.1	186	331	278	247
Long-term investments		23.5	1,165	1,256	1,073	916	656	755
Other non-current assets		19.5	89.3	329	284	274	334	428
Total assets		1,013	5,922	6,650	7,722	8,223	9,034	9,132
Accounts payable		8.49	5.65	13.4	23.7	51.7	170	146
Accrued liabilities		62.8	125	201	269	447	515	880
Deferred revenue		327	639	1,158	1,673	2,199	2,580	3,347
Total current liabilities		416	789	1,397	1,994	2,731	3,301	4,422
Lease liabilities		193	185	181	224	254	378	412
Other non-current liabilities		8.47	6.92	11.2	24.4	33.1	61.3	80.7
Total liabilities		621	985	1,601	2,254	3,033	6,027	7,208
Paid-in capital		155	6,175	6,985	8,211	9,331	10,355	11,469
Retained earnings		-700	-1,239	-1,919	-2,716	-4,076	-7,294	-9,494
Treasury stock					0	-67.1	-59.5	-54.5
Other comprehensive income		0.22	0.44	-16.3	-38.3	-8.22	-2.24	3.34
Shareholders' equity	-312	-545	4,936	5,049	5,456	5,180	3,000	1,924
Minority interests				0	12.2	10.3	6.71	0
Total equity	-312	-545	4,936	5,049	5,469	5,191	3,007	1,924
Total liabilities and equity		1,013	5,922	6,650	7,722	8,223	9,034	9,132
Shares outstanding								344

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-178	-349	-539	-680	-798	-838	-1,289	-1,329
Depreciation and amortization	1.36	3.52	9.83	21.5	63.5	120	183	220
Stock-based compensation	22.4	78.4	301	605	862	1,168	1,479	1,600
Deferred income tax			-0.03	-0.72	-26.7	-26.8	-7.67	-2.34
Change in receivables	-51.4	-117	-116	-252	-167	-212	0.54	-380
Change in payables	5.17	1.12	-2.88	7.37	8.02	19.2	109	-8.3
Cash from operations	-144	-177	-45.4	110	546	848	960	1,222
Capital expenditures	-2.06	-18.6	-35	-16.2	-25.1	-35.1	-46.3	-102
Acquisitions	0	-6.31	-6.04	0	-363	-276	-30.3	-179
Purchases of investments	-738	-623	-4,860	-4,250	-3,901	-2,476	-2,569	-2,040
Sales and maturities of investments	380	776	701	3,843	3,657	3,671	2,802	2,615
Cash from investing	-363	138	-4,037	-20.8	-598	832	191	312
Stock issued	0	0	4,242	0	0	57.2	44.9	84.1
Share buybacks	-29.6	0	0	0	0	-592	-1,932	-874
Cash from financing	414	57.5	4,775	178	-92.6	-854	-227	-1,385
Exchange rate effect	0	0	-0.01	-0.24	-0.93	-2.03	-6.19	16.8
Net change in cash	-93	19.4	693	267	-146	824	918	166
Free cash flow	-146	-195	-80.5	94	521	813	913	1,120
Income taxes paid	0.24	1.43	1.2	1.48	6.55	12.5	15.7	13.3

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $335.94 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	67.0%	Gross profit / revenue.
Operating margin	-22.8%	Operating income / revenue.
EBITDA margin	-19.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-19.8%	Pre-tax income / revenue.
Net margin	-20.1%	Net income / revenue.
FCF margin	22.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	23.1%	Cash from operations / revenue.
Return on assets (ROA)	-12.6%	Net income / average total assets.
R&D / revenue	38.8%	Research and development expense / revenue.
Stock-based pay / revenue	30.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.1%	Capital expenditures / revenue.
D&A / revenue	3.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	29.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	31.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	51.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	30.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	32.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	55.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	27.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	30.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	22.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	29.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-35.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-29.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-17.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	1.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	9.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	19.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.94x	Current assets / current liabilities.
Quick ratio	0.82x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.63x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	75.3%	Total liabilities / total assets.
Interest coverage	-149x	Operating income / interest expense.
Working capital	-$227.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	23.8%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.63x	Revenue / average total assets.
Fixed asset turnover	26.1x	Revenue / average property, plant and equipment.
Receivables turnover	7.56x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	38 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	4.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.12	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$15.56	Revenue / diluted weighted shares.
FCF per share	$3.42	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.59	Cash from operations / diluted weighted shares.
Cash per share	$6.65	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	57.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$116.44B	Share price x shares outstanding.
Enterprise value	$114.09B	Market cap + total debt - cash - short-term investments.
P/S	21.4x	Market cap / revenue.
P/FCF	97.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	92.9x	Market cap / cash from operations, when positive.
EV/Sales	21.0x	Enterprise value / revenue.
EV/FCF	95.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.0%	Free cash flow / market cap.
Earnings yield	-0.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.6%	(Dividends paid + share buybacks) / market cap.

What was Snowflake Inc.'s revenue in fiscal 2026?

Snowflake Inc. reported revenue of $4.68B for fiscal 2026, 29.2% higher than the year before.

Was Snowflake Inc. profitable in fiscal 2026?

No. It reported a net loss of $1.33B.

How much free cash flow did Snowflake Inc. generate in fiscal 2026?

Cash from operations of $1.22B minus capital expenditures of $101.6M left free cash flow of $1.12B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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