Snowflake
SNOW · NYSEServices-Prepackaged Software · Fiscal year ends Jan 31
Snowflake reported revenue of $4.7B in the fiscal year ended Jan 2026, up 29.2% from the year before. Operating income was −$1.4B, an operating margin of −30.6%, and net income was −$1.3B. Operating cash flow of $1.2B less capital expenditure of $102M left free cash flow of $1.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | $1.2B | $2.1B | $2.8B | $3.6B | $4.7B |
| Cost of revenue | $458M | $718M | $899M | $1.2B | $1.5B |
| Gross profit | $761M | $1.3B | $1.9B | $2.4B | $3.1B |
| Research & development | $467M | $788M | $1.3B | $1.8B | $2B |
| Operating income | −$715M | −$842M | −$1.1B | −$1.5B | −$1.4B |
| Interest expense | – | $0 | $0 | $3M | $8M |
| Pre-tax income | −$677M | −$816M | −$849M | −$1.3B | −$1.3B |
| Income tax | $3M | −$18M | −$11M | $4M | $17M |
| Net income | −$680M | −$797M | −$836M | −$1.3B | −$1.3B |
| Diluted EPS | −2.26 | −2.50 | −2.55 | −3.86 | −3.95 |
| Diluted shares | 300M | 319M | 328M | 333M | 337M |
Balance sheet
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.1B | $940M | $1.8B | $2.6B | $2.8B |
| Receivables | $546M | $716M | $927M | $923M | $1.3B |
| Current assets | $4.6B | $5B | $5B | $5.9B | $5.7B |
| Net PP&E | $105M | $161M | $247M | $296M | $249M |
| Goodwill | $8M | $657M | $976M | $1.1B | $1.2B |
| Total assets | $6.6B | $7.7B | $8.2B | $9B | $9.1B |
| Payables | $13M | $24M | $52M | $170M | $146M |
| Deferred revenue | $1.2B | $1.7B | $2.2B | $2.6B | $3.3B |
| Current liabilities | $1.4B | $2B | $2.7B | $3.3B | $4.4B |
| Total liabilities | $1.6B | $2.3B | $3B | $6B | $7.2B |
| Shareholders' equity | $5B | $5.5B | $5.2B | $3B | $1.9B |
| Backlog (remaining obligations) | $2.6B | $3.7B | $5.2B | $6.9B | $9.8B |
Cash flow
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $110M | $546M | $848M | $960M | $1.2B |
| Capital expenditure | $16M | $25M | $35M | $46M | $102M |
| Free cash flow | $94M | $521M | $813M | $913M | $1.1B |
| Depreciation & amortisation | $21M | $64M | $120M | $183M | $220M |
| Stock-based compensation | $605M | $862M | $1.2B | $1.5B | $1.6B |
| Acquisitions | $0 | $363M | $276M | $30M | $179M |
| Share buybacks | $0 | $0 | $592M | $1.9B | $874M |
Key ratios
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 69.4% | 35.9% | 29.2% | 29.2% |
| Gross margin | 62.4% | 65.3% | 68.0% | 66.5% | 67.2% |
| Operating margin | −58.6% | −40.8% | −39.0% | −40.2% | −30.6% |
| Net margin | −55.8% | −38.6% | −29.8% | −35.5% | −28.4% |
| Return on equityBlank when equity is negative | −13.5% | −14.6% | −16.1% | −42.9% | −69.2% |
| ROCEEBIT ÷ (assets − current liabilities) | −13.6% | −14.7% | −19.9% | −25.4% | −30.5% |
| Free cash flow margin | 7.7% | 25.2% | 29.0% | 25.2% | 23.9% |
| Cash conversion (CFO ÷ net income) | −0.16x | −0.68x | −1.01x | −0.75x | −0.92x |
| Receivable days | 163 | 126 | 121 | 93 | 102 |
| Payable days | 11 | 12 | 21 | 51 | 35 |
| Interest cover | – | – | – | −528x | −173x |
| Current ratio | 3.29x | 2.50x | 1.85x | 1.78x | 1.30x |
Recent filings
More in Services-Prepackaged Software
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.