Snowflake (SNOW)
Market Price (10/28/2025): $266.25 | Market Cap: $89.3 BilSector: Information Technology | Industry: Application Software
Snowflake (SNOW)
Market Price (10/28/2025): $266.25Market Cap: $89.3 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28% | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.5 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -37% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% | Weak multi-year price returns3Y Excs Rtn is -35% | Expensive valuation multiplesP/SPrice/Sales ratio is 22x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 106x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 129% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.0% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns3Y Excs Rtn is -35% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.5 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -37% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 22x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 106x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 129% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.0% |
Market Valuation & Key Metrics
SNOW Stock
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SNOW Return | - | 20% | -58% | 39% | -22% | 72% | -8% |
| Peers Return | 152% | 40% | -52% | 75% | -7% | 19% | 231% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 110% |
Monthly Win Rates [3] | |||||||
| SNOW Win Rate | 33% | 50% | 33% | 50% | 17% | 56% | |
| Peers Win Rate | 62% | 65% | 32% | 60% | 53% | 51% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | |
Max Drawdowns [4] | |||||||
| SNOW Max Drawdown | - | -33% | -67% | -15% | -45% | -15% | |
| Peers Max Drawdown | -26% | -20% | -60% | -9% | -28% | -25% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: CRWD, DDOG, MDB, OKTA, TDC. See SNOW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/27/2025 (YTD)
How Low Can It Go
| Event | SNOW | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -71.8% | -25.4% |
| % Gain to Breakeven | 254.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -27.8% | -33.9% |
| % Gain to Breakeven | 38.6% | 51.3% |
| Time to Breakeven | 319 days | 148 days |
Compare to CRWD, DDOG, MDB, OKTA, TDC
In The Past
Snowflake's stock fell -71.8% during the 2022 Inflation Shock from a high on 11/16/2021. A -71.8% loss requires a 254.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to SNOW. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 09302025 | ADBE | Adobe | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.4% | 1.4% | -6.7% |
| 09302025 | CRM | Salesforce | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.8% | 7.8% | -0.6% |
| 09302025 | MPWR | Monolithic Power Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 20.0% | 20.0% | -1.8% |
| 09262025 | POWI | Power Integrations | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 7.5% | 7.5% | -13.4% |
| 09262025 | ROP | Roper Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -7.0% | -7.0% | -7.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 09302025 | ADBE | Adobe | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.4% | 1.4% | -6.7% |
| 09302025 | CRM | Salesforce | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.8% | 7.8% | -0.6% |
| 09302025 | MPWR | Monolithic Power Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 20.0% | 20.0% | -1.8% |
| 09262025 | POWI | Power Integrations | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 7.5% | 7.5% | -13.4% |
| 09262025 | ROP | Roper Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -7.0% | -7.0% | -7.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Snowflake
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 211.80 |
| Mkt Cap | 41.1 |
| Rev LTM | 2,890 |
| Op Inc LTM | -91 |
| FCF LTM | 786 |
| FCF 3Y Avg | 607 |
| CFO LTM | 845 |
| CFO 3Y Avg | 659 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 22.7% |
| Rev Chg 3Y Avg | 28.8% |
| Rev Chg Q | 22.5% |
| QoQ Delta Rev Chg LTM | 5.2% |
| Op Mgn LTM | -4.0% |
| Op Mgn 3Y Avg | -8.3% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 25.6% |
| CFO/Rev 3Y Avg | 24.3% |
| FCF/Rev LTM | 20.9% |
| FCF/Rev 3Y Avg | 22.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 41.1 |
| P/S | 15.3 |
| P/EBIT | -26.7 |
| P/E | -23.0 |
| P/CFO | 75.9 |
| Total Yield | 0.0% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.5% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 8.4% |
| 3M Rtn | 8.4% |
| 6M Rtn | 40.1% |
| 12M Rtn | 25.6% |
| 3Y Rtn | 74.4% |
| 1M Excs Rtn | 4.9% |
| 3M Excs Rtn | 1.4% |
| 6M Excs Rtn | 15.7% |
| 12M Excs Rtn | 11.4% |
| 3Y Excs Rtn | -15.8% |
Comparison Analyses
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/27/2025 | 20.3% | 10.7% | 12.1% |
| 5/21/2025 | 13.4% | 12.9% | 19.3% |
| 2/26/2025 | 4.5% | 6.7% | -5.5% |
| 11/20/2024 | 32.7% | 34.5% | 28.8% |
| 8/21/2024 | -14.7% | -17.4% | -18.4% |
| 5/22/2024 | -5.4% | -13.7% | -23.6% |
| 2/28/2024 | -18.1% | -27.4% | -29.7% |
| 11/29/2023 | 7.0% | 5.2% | 13.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 10 |
| # Negative | 8 | 9 | 10 |
| Median Positive | 10.6% | 10.7% | 11.6% |
| Median Negative | -13.6% | -8.1% | -6.8% |
| Max Positive | 32.7% | 34.5% | 28.8% |
| Max Negative | -18.1% | -27.4% | -29.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 7312025 | 9052025 | 10-Q 7/31/2025 |
| 4302025 | 5302025 | 10-Q 4/30/2025 |
| 1312025 | 3212025 | 10-K 1/31/2025 |
| 10312024 | 11272024 | 10-Q 10/31/2024 |
| 7312024 | 8292024 | 10-Q 7/31/2024 |
| 4302024 | 5312024 | 10-Q 4/30/2024 |
| 1312024 | 3262024 | 10-K 1/31/2024 |
| 10312023 | 12012023 | 10-Q 10/31/2023 |
| 7312023 | 8312023 | 10-Q 7/31/2023 |
| 4302023 | 6022023 | 10-Q 4/30/2023 |
| 1312023 | 3292023 | 10-K 1/31/2023 |
| 10312022 | 12022022 | 10-Q 10/31/2022 |
| 7312022 | 9012022 | 10-Q 7/31/2022 |
| 4302022 | 6032022 | 10-Q 4/30/2022 |
| 1312022 | 3302022 | 10-K 1/31/2022 |
| 10312021 | 12032021 | 10-Q 10/31/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Dageville Benoit | President of Products | 9242025 | Sell | 230.48 | 869 | 200,287 | 11,643,619 | Form |
| 1 | Speiser Michael L | 9082025 | Sell | 223.65 | 603 | 134,862 | 326,887,631 | Form | |
| 2 | Kleinerman Christian | EVP, Product Management | 9042025 | Sell | 233.50 | 10,000 | 2,335,000 | 123,132,956 | Form |
| 3 | Kleinerman Christian | EVP, Product Management | 8042025 | Sell | 216.00 | 10,000 | 2,160,000 | 116,064,576 | Form |
| 4 | Speiser Michael L | 8042025 | Sell | 208.55 | 26,449 | 5,516,018 | 306,522,023 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |