NYSE · SNOW

Snowflake Inc.

Technology · Software - Application

$332.43▼ 1.76% ($5.96)at close

After hours$330.62▼ 0.54%7:59 PM ET

52-week

$118.30$384.56

Market cap

$115.22B

P/E

-104.54

EPS (TTM)

-$3.12

Next earnings

Dec 2, 2026

No multiple

What the market price implies · Reverse DCF

To support a price of $332.43, this model requires revenue to grow by 52.23%/yr over the next 10 years, compounded annually.

Historical revenue grew by 40%/yr over the past 4 years. The required annual growth rate is 12.24 percentage points higher.

Selected forecast · Base scenario

18.71%/yr · actual 10-year annualized revenue growth

Year 1 growth: 34.77%

Market-implied · Base operating assumptions + edited margins

52.23%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$332.43

Estimated value / share

$23.05

Base scenario

This estimate is 93.07% below the price used.

USD · TTM ending 2026-07-31

Year 1 growth 34.77% · Ending margin 0% · Discount rate 12.08%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 18, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-07-31
Data refreshed: Sep 20, 2026, 10:20 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Optimism is getting priced inHigh confidence

1Y Price: 49.67%Revenue (TTM): 32.04%FCF (TTM): 59.09%P/FCF: 75th pct

What changed

The stock rose 49.67% over the last year. Revenue grew 32.04% over the trailing twelve months. Operating margin moved from -37.41% to -22.76%. Free cash flow grew 59.09% over the trailing twelve months.

What the market seems to be pricing

The stock is trading toward the richer end of its historical P/FCF range (75th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.

What would invalidate this read

Operating margin is at -22.76% — continued expansion would be needed to justify the premium. Revenue growth of 32.04% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.

Performance

Return analysis

Company profile

Snowflake Inc. delivers a cloud-centric data platform to customers across both the United States and international markets.

CEOSridhar Ramaswamy

SectorTechnology

IndustrySoftware - Application

Employees9,250

IPO dateSep 16, 2020

https://www.snowflake.com

Market multiples

Forward P/E—

EV/EBITDA-59.96

Enterprise value$64.95B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth35.09%

Gross margin (FY2026)67.17%▲0.7ppvs FY2025

Operating margin (FY2026)-30.64%▲9.5ppvs FY2025

ROE-48.24%▲5.8ppvs FY2026

Analyst consensus

RatingBuy

Target price$418.03▲25.75%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Dec 2, 2026

Q4 FY26 · EPS est $0.60 · Revenue est $1.65B

View

NYSE · SNOW

Snowflake Inc.

Technology · Software - Application

$332.43▼ 1.76% ($5.96)at close

After hours$330.62▼ 0.54%7:59 PM ET

52-week

$118.30$384.56

Market cap

$115.22B

P/E

-104.54

EPS (TTM)

-$3.12

Next earnings

Dec 2, 2026

No multiple

What the market price implies · Reverse DCF

To support a price of $332.43, this model requires revenue to grow by 52.23%/yr over the next 10 years, compounded annually.

Historical revenue grew by 40%/yr over the past 4 years. The required annual growth rate is 12.24 percentage points higher.

Selected forecast · Base scenario

18.71%/yr · actual 10-year annualized revenue growth

Year 1 growth: 34.77%

Market-implied · Base operating assumptions + edited margins

52.23%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$332.43

Estimated value / share

$23.05

Base scenario

This estimate is 93.07% below the price used.

USD · TTM ending 2026-07-31

Year 1 growth 34.77% · Ending margin 0% · Discount rate 12.08%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 18, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-07-31
Data refreshed: Sep 20, 2026, 10:20 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Optimism is getting priced inHigh confidence

1Y Price: 49.67%Revenue (TTM): 32.04%FCF (TTM): 59.09%P/FCF: 75th pct

What changed

What the market seems to be pricing

The stock is trading toward the richer end of its historical P/FCF range (75th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.

What would invalidate this read

Performance

Return analysis

Company profile

Snowflake Inc. delivers a cloud-centric data platform to customers across both the United States and international markets.

CEOSridhar Ramaswamy

SectorTechnology

IndustrySoftware - Application

Employees9,250

IPO dateSep 16, 2020

https://www.snowflake.com

Market multiples

Forward P/E—

EV/EBITDA-59.96

Enterprise value$64.95B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth35.09%

Gross margin (FY2026)67.17%▲0.7ppvs FY2025

Operating margin (FY2026)-30.64%▲9.5ppvs FY2025

ROE-48.24%▲5.8ppvs FY2026

Analyst consensus

RatingBuy

Target price$418.03▲25.75%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Dec 2, 2026

Q4 FY26 · EPS est $0.60 · Revenue est $1.65B

View