Snowflake Inc. (SNOW) intrinsic value & 10-year financials

Snowflake Inc. (SNOW) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 74.1% a year to $4.7B, with an average return on invested capital of -139.5%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$306.84
Market cap
$103.6B
Revenue (FY2026)
$4.7B
Revenue growth (9-yr CAGR)
74.1%
ROIC (10-yr avg)
-139.5%
Free cash flow (FY2026)
$1.1B

SNOW 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2026 $4.7B -$1.3B -$3.95 $1.1B -30.6% -1118.7%
FY2025 $3.6B -$1.3B -$3.86 $913.5M -40.2% -65.9%
FY2024 $2.8B -$836.1M -$2.55 $813.0M -39.0% -25.7%
FY2023 $2.1B -$796.7M -$2.50 $520.5M -40.8% -18.5%
FY2022 $1.2B -$679.9M -$2.26 $94.0M -58.6% -16.9%
FY2021 $592.0M -$539.1M -$3.81 -$80.5M -91.9% -28.5%
FY2020 $264.7M -$348.5M -$7.77 -$195.1M -135.3% 74.8%
FY2019 $96.7M -$178.0M — -$146.0M -191.9% 83.5%
FY2018 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Snowflake Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Snowflake Inc. has historically struggled to out-earn its cost of capital, averaging just -1.1% ROIC.

Snowflake Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Snowflake Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-131.20 per share.

SNOW stock: frequently asked questions

What is the intrinsic value of Snowflake Inc. (SNOW) stock?

Graham's formula only works with positive earnings. Snowflake Inc. reported diluted EPS of -$3.95 in fiscal 2026, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Snowflake Inc. generate free cash flow?

Snowflake Inc. generated $1.1B of free cash flow (operating cash flow minus capital expenditures) in fiscal 2026. Free cash flow was positive in 5 of the last 8 reported years.

What is SNOW's return on invested capital?

Average ROIC over the last 9 fiscal years was -139.5%, and average return on equity was 0.9%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this SNOW data come from?

From Snowflake Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 29, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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