Explain this page
Arphra AIPlain-English read on Snowflake Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
BMixed
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin67.2%
Operating margin-30.6%
Net margin-28.4%
ROE-69.2%
ROA-14.6%
ROIC-79.3%
Liquidity & leverage
Current ratio1.30×
Quick ratio1.30×
Debt / equity1.42×
Net debt / EBITDA0.08×
Interest coverage-173×
Efficiency & per-share
Asset turnover0.51×
Inventory days0
Days sales out.103
FCF / share$3.32
Book value / share$5.70
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| Headline | |||||
| Market cap | $65.03B | — | — | — | — |
| Enterprise value | $64.95B | — | — | — | — |
| Multiples | |||||
| P / E | — | — | — | — | — |
| P / B | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — |
| EV / Sales | 13.87 | — | — | — | — |
| EV / FCF | 57.97 | — | — | — | — |
| Yields | |||||
| Earnings yield | -2.05% | — | — | — | — |
| Free cash flow yield | +1.72% | — | — | — | — |
| Dividend yield | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin | +67.17% | +66.25% | +65.85% | +65.93% | +65.32% |
| Operating margin | -30.64% | -30.30% | -30.02% | -30.87% | -31.02% |
| EBITDA margin | -23.13% | -23.61% | -23.81% | -22.91% | -23.73% |
| EBIT margin | -27.83% | -28.37% | -28.30% | -27.68% | -27.31% |
| Pre-tax margin | -28.01% | -27.61% | -28.70% | -28.82% | -28.15% |
| Net margin | -28.43% | -28.98% | -27.83% | -27.89% | -27.68% |
| Cost structure | |||||
| Cost of revenue / sales | +32.83% | +33.40% | +32.28% | +32.70% | +32.75% |
| R&D intensity | +42.05% | +41.60% | +42.92% | +42.65% | +42.27% |
| SG&A intensity | +55.76% | +54.74% | +55.13% | +55.70% | +56.12% |
| Effective tax rate | — | — | — | — | — |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| Returns | |||||
| Return on equity (ROE) | -69.21% | -70.87% | -67.11% | -69.55% | -66.60% |
| Return on assets (ROA) | -14.58% | -14.74% | -14.00% | -14.35% | -13.79% |
| Return on capital (ROC) | -30.76% | -30.66% | -29.54% | -31.70% | -30.74% |
| Return on invested capital (ROIC) | -23.07% | -23.00% | -22.15% | -23.77% | -23.06% |
| Asset turnover | +51.29% | +50.88% | +50.31% | +51.47% | +49.83% |
| DuPont · ROE decomposition | |||||
| Net margin | -28.43% | -28.98% | -27.83% | -27.89% | -27.68% |
| Asset turnover (× revenue / assets) | +51.29% | +50.88% | +50.31% | +51.47% | +49.83% |
| Equity multiplier (× assets / equity) | +474.64% | +480.65% | +479.25% | +484.56% | +482.78% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| Turnover | |||||
| Asset turnover | 0.51 | 0.51 | 0.50 | 0.51 | 0.50 |
| Fixed-asset turnover | 8.95 | — | — | — | — |
| Inventory turnover | — | — | — | — | — |
| Receivables turnover | 3.55 | — | — | — | — |
| Payables turnover | 10.56 | — | — | — | — |
| Days outstanding | |||||
| Days sales outstanding (DSO) | 102.91 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — |
| Days payables outstanding (DPO) | 34.55 | — | — | — | — |
| Cash conversion cycle | 68.36 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| Operating CF / Net income | -0.92 | -0.89 | -0.94 | -0.92 | -0.94 |
| FCF / Net income | -0.84 | -0.83 | -0.85 | -0.88 | -0.87 |
| FCF margin | +23.92% | +24.11% | +23.57% | +24.52% | +24.02% |
| OCF margin | +26.09% | +25.84% | +26.27% | +25.54% | +25.90% |
| CapEx / Revenue | +2.17% | +2.12% | +2.23% | +2.15% | +2.20% |
| CapEx / D&A | 0.46 | — | — | — | — |
| Stock-based comp / Revenue | +34.15% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| EPS · diluted | -3.95 | 1.93 | 2.71 | 3.76 | 4.97 |
| EPS · basic | -3.95 | 1.95 | 2.72 | 3.80 | 4.96 |
| Book value / share | 5.70 | 7.39 | 9.31 | 11.31 | 13.97 |
| Tangible BV / share | 1.43 | 7.39 | 9.31 | 11.31 | 13.97 |
| Sales / share | 13.88 | 18.08 | 22.45 | 28.21 | 33.60 |
| Operating CF / share | 3.62 | 4.67 | 5.90 | 7.21 | 8.70 |
| Free cash flow / share | 3.32 | 4.36 | 5.29 | 6.92 | 8.07 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E | 4y CAGR |
|---|---|---|---|---|---|---|
| Top-line | ||||||
| Revenue · YoY | — | +30.12% | +25.54% | +25.07% | +17.89% | +24.58% |
| Gross profit · YoY | — | +28.34% | +24.78% | +25.22% | +16.79% | +23.71% |
| Profit | ||||||
| Operating income · YoY | — | -28.67% | -24.38% | -28.59% | -18.47% | — |
| EBITDA · YoY | — | -32.86% | -26.58% | -20.37% | -22.07% | — |
| Net income · YoY | — | -32.63% | -20.58% | -25.32% | -17.01% | — |
| Operating | ||||||
| EBIT · YoY | — | -32.62% | -25.22% | -22.35% | -16.30% | — |
| R&D · YoY | — | +28.72% | +29.54% | +24.28% | +16.84% | +24.74% |
| Per-share | ||||||
| EPS · diluted · YoY | — | +148.75% | +40.86% | +38.59% | +32.20% | — |
| EPS · basic · YoY | — | +149.30% | +39.44% | +40.01% | +30.47% | — |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| Leverage | |||||
| Total debt | $2.74B | $3.53B | $4.6B | $5.48B | $6.69B |
| Net debt | -$87.05M | -$131.03M | $18.04M | -$248.06M | -$96.55M |
| Net debt / EBITDA | 0.08 | 0.09 | -0.01 | 0.11 | 0.04 |
| Debt / equity | 1.42 | 1.42 | 1.45 | 1.43 | 1.43 |
| Debt / assets | +30.01% | +29.47% | +30.26% | +29.48% | +29.57% |
| Equity / assets | +21.07% | +20.81% | +20.87% | +20.64% | +20.71% |
| Coverage | |||||
| EBITDA / interest expense | -130.53 | -135.49 | -134.17 | -129.39 | -131.80 |
| Operating income / interest | -172.95 | -173.86 | -169.18 | -174.29 | -172.30 |
| Interest expense | $8.3M | $10.62M | $13.58M | $16.95M | $20.31M |
| Liquidity | |||||
| Current ratio | 1.30 | — | — | — | — |
| Quick ratio | 1.21 | — | — | — | — |
| Cash ratio | 0.64 | — | — | — | — |
| Working capital | $1.32B | — | — | — | — |
| Working capital / revenue | +28.20% | — | — | — | — |
Historical multiples · μ ± σ bands
3 fiscal-year-end observations from key_metrics. Mean is dashed; light-green band is ±1σ, light-red band ±2σ. The dot marks the most recent value; the cheap / fair / rich verdict uses z-score against the issuer's own history (yields inverted — a high yield is cheap).
EV / Salescheap · z -1.07
μ 17.6 · σ 3.5 · current 13.9
EV / FCFcheap · z -1.10
μ 68.2 · σ 9.3 · current 58.0
Earnings yieldfair · z -0.59
μ -1.8% · σ 0.4% · current -2.0%
FCF yieldcheap · z 1.15
μ 1.5% · σ 0.2% · current 1.7%
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| P / E | — | — | — |
| P / B | — | — | — |
| EV / EBITDA | — | — | — |
| EV / Sales | 13.87x | 16.67x | 22.34x |
| Earnings yield | -2.0% | -2.1% | -1.3% |
| FCF yield | 1.7% | 1.5% | 1.2% |
Returns
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Gross margin | — | — | — |
| Operating margin | — | — | — |
| Net margin | — | — | — |
| ROE | -69.2% | -42.9% | -16.1% |
| ROA | -14.6% | -14.2% | -10.2% |
| ROIC | -30.1% | -25.2% | -19.5% |
Leverage & liquidity
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Debt / equity | — | — | — |
| Net debt / EBITDA | 0.08 | -0.05 | 2.02 |
| Interest coverage | — | — | — |
| Current ratio | 1.30x | 1.75x | 1.85x |
| Quick ratio | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).