Tearsheet

Snowflake (SNOW)


Market Price (10/28/2025): $266.25 | Market Cap: $89.3 Bil
Sector: Information Technology | Industry: Application Software

Snowflake (SNOW)


Market Price (10/28/2025): $266.25
Market Cap: $89.3 Bil
Sector: Information Technology
Industry: 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


0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28%
Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
Not profitable at operating income level
Op 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%
1 Attractive cash flow generation
CFO/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 returns
3Y Excs Rtn is -35%
Expensive valuation multiples
P/SPrice/Sales ratio is 22x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 106x
2   Stock price has recently run up significantly
12M Rtn12 month market price return is 129%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.0%
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28%
1 Attractive cash flow generation
CFO/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%
2 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
3 Weak multi-year price returns
3Y Excs Rtn is -35%
4 Not profitable at operating income level
Op 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%
5 Expensive valuation multiples
P/SPrice/Sales ratio is 22x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 106x
6 Stock price has recently run up significantly
12M Rtn12 month market price return is 129%
7 Yield minus risk free rate is negative
ERPEquity 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

 202020212022202320242025Total [1]
Returns
SNOW Return-20%-58%39%-22%72%-8%
Peers Return152%40%-52%75%-7%19%231%
S&P 500 Return16%27%-19%24%23%17%110%

Monthly Win Rates [3]
SNOW Win Rate33%50%33%50%17%56% 
Peers Win Rate62%65%32%60%53%51% 
S&P 500 Win Rate58%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

Unique KeyEventSNOWS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-71.8%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven254.7%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-27.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven38.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven319 days148 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.

About Snowflake (SNOW)

Better Bets than Snowflake (SNOW)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to SNOW. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
7.8%7.8%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
20.0%20.0%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
7.5%7.5%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-7.0%-7.0%-7.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
7.8%7.8%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
20.0%20.0%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
7.5%7.5%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-7.0%-7.0%-7.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Snowflake

Financials

SNOWCRWDDDOGMDBOKTATDCMedian
NameSnowflakeCrowdStr.Datadog MongoDB Okta Teradata  
Mkt Price265.97529.70157.62340.1790.0121.37211.80
Mkt Cap89.2132.454.627.615.82.041.1
Rev LTM4,1164,3413,0162,2182,7631,6752,890
Op Inc LTM-1,540-379-17-16583185-91
FCF LTM7341,038854240838263786
FCF 3Y Avg715982649145565276607
CFO LTM8381,389966270853284845
CFO 3Y Avg8031,260733158585297659

Growth & Margins

SNOWCRWDDDOGMDBOKTATDCMedian
NameSnowflakeCrowdStr.Datadog MongoDB Okta Teradata  
Rev Chg LTM28.4%23.5%26.0%21.9%12.7%-6.7%22.7%
Rev Chg 3Y Avg36.3%33.5%30.4%27.2%20.1%-3.4%28.8%
Rev Chg Q31.8%21.3%28.1%23.7%12.7%-6.4%22.5%
QoQ Delta Rev Chg LTM7.2%5.0%6.4%5.4%3.1%-1.6%5.2%
Op Mgn LTM-37.4%-8.7%-0.6%-7.5%3.0%11.0%-4.0%
Op Mgn 3Y Avg-39.1%-4.3%-1.7%-13.8%-12.3%9.9%-8.3%
QoQ Delta Op Mgn LTM3.1%-2.6%-1.6%0.7%2.1%-2.3%-0.5%
CFO/Rev LTM20.4%32.0%32.0%12.2%30.9%17.0%25.6%
CFO/Rev 3Y Avg25.3%36.7%29.6%8.0%23.2%16.9%24.3%
FCF/Rev LTM17.8%23.9%28.3%10.8%30.3%15.7%20.9%
FCF/Rev 3Y Avg22.5%28.6%26.2%7.3%22.4%15.7%22.5%

Valuation

SNOWCRWDDDOGMDBOKTATDCMedian
NameSnowflakeCrowdStr.Datadog MongoDB Okta Teradata  
Mkt Cap89.2132.454.627.615.82.041.1
P/S21.730.518.112.45.71.215.3
P/EBIT-65.0-690.3349.0-378.181.011.6-26.7
P/E-64.6-445.7438.0-350.894.018.5-23.0
P/CFO106.495.356.5102.118.57.275.9
Total Yield-1.5%-0.2%0.2%-0.3%1.1%5.4%0.0%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg1.3%1.4%1.6%0.8%3.6%8.6%1.5%
D/E0.00.00.00.00.10.30.0
Net D/E-0.0-0.0-0.0-0.1-0.10.1-0.0

Returns

SNOWCRWDDDOGMDBOKTATDCMedian
NameSnowflakeCrowdStr.Datadog MongoDB Okta Teradata  
1M Rtn18.4%10.0%13.3%6.8%-1.3%-3.7%8.4%
3M Rtn21.6%12.2%4.5%39.2%-8.0%-5.1%8.4%
6M Rtn67.3%25.2%54.9%94.9%-14.1%-1.0%40.1%
12M Rtn129.2%76.2%24.5%26.6%24.6%-33.2%25.6%
3Y Rtn66.6%223.7%94.3%82.3%57.1%-32.4%74.4%
1M Excs Rtn14.9%6.5%9.9%3.4%-4.7%-7.2%4.9%
3M Excs Rtn13.7%5.9%-3.0%33.3%-17.0%-11.3%1.4%
6M Excs Rtn43.0%0.8%30.6%70.6%-38.5%-25.3%15.7%
12M Excs Rtn115.5%58.4%11.1%11.8%6.1%-51.0%11.4%
3Y Excs Rtn-34.7%156.7%3.9%-9.5%-22.1%-116.9%-15.8%

Financials

Segment Financials

Revenue by Segment

$ Mil20252024202320222021
Product revenue2,6671,9391,140554252
Professional services and other revenue140127793813
Total2,8062,0661,219592265


Price Behavior

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity11,120,020
Short Interest: % Change Since 93020253.5%
Average Daily Volume4,963,740
Days-to-Cover Short Interest2.24
Basic Shares Quantity335,215,000
Short % of Basic Shares3.3%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/27/202520.3%10.7%12.1%
5/21/202513.4%12.9%19.3%
2/26/20254.5%6.7%-5.5%
11/20/202432.7%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%
11/29/20237.0%5.2%13.5%
...
SUMMARY STATS   
# Positive121110
# Negative8910
Median Positive10.6%10.7%11.6%
Median Negative-13.6%-8.1%-6.8%
Max Positive32.7%34.5%28.8%
Max Negative-18.1%-27.4%-29.7%

SEC Filings

Expand for More

Report DateFiling DateFiling
7312025905202510-Q 7/31/2025
4302025530202510-Q 4/30/2025
1312025321202510-K 1/31/2025
103120241127202410-Q 10/31/2024
7312024829202410-Q 7/31/2024
4302024531202410-Q 4/30/2024
1312024326202410-K 1/31/2024
103120231201202310-Q 10/31/2023
7312023831202310-Q 7/31/2023
4302023602202310-Q 4/30/2023
1312023329202310-K 1/31/2023
103120221202202210-Q 10/31/2022
7312022901202210-Q 7/31/2022
4302022603202210-Q 4/30/2022
1312022330202210-K 1/31/2022
103120211203202110-Q 10/31/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Dageville BenoitPresident of Products9242025Sell230.48869200,28711,643,619Form
1Speiser Michael L 9082025Sell223.65603134,862326,887,631Form
2Kleinerman ChristianEVP, Product Management9042025Sell233.5010,0002,335,000123,132,956Form
3Kleinerman ChristianEVP, Product Management8042025Sell216.0010,0002,160,000116,064,576Form
4Speiser Michael L 8042025Sell208.5526,4495,516,018306,522,023Form