Snowflake Inc.
SNOW Technology Software Application
Snowflake Inc.’s revenue for fiscal 2026 (year ended January 2026) was $4.7 billion, up 29.2% from fiscal 2025. In the quarter to July 2026, revenue grew 35.1%, EPS grew 38.2%, free cash flow grew 47.2% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.
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Snowflake Inc. (SNOW) Altman Z-score
Snowflake Inc.'s Altman Z-score for fiscal 2026 is 4.13, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 4.13 | (0.97) |
| FY2025 | 5.09 | (7.15) |
| FY2024 | 12.24 | (0.91) |
| FY2023 | 13.15 | (17.90) |
| FY2022 | 31.06 | 7.35 |
| FY2021 | 23.71 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.14 | — | 0.17 | |
| Retained earnings / total assets | (1.04) | — | −1.46 | |
| EBIT / total assets | (0.16) | — | −0.52 | |
| Market value of equity / total liabilities | 9.02 | — | 5.41 | |
| Sales / total assets | 0.51 | — | 0.51 | |
| Altman Z-score | Safe zone | 4.13 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −3.22 | ||
Z and Z″ put Snowflake Inc. in different zones: safe zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CDNS Cadence Design Systems, Inc. compare | 13.2× |
| DDOG Datadog, Inc. compare | 10.9× |
| ADBE Adobe Inc. compare | 8.5× |
| NOW ServiceNow, Inc. compare | 8.3× |
| INTU Intuit Inc. compare | 4.9× |
| SNOW Snowflake Inc. | 4.1× |
| UBER Uber Technologies, Inc. compare | 3.9× |
| CRM Salesforce, Inc. compare | 3.1× |
| ADP Automatic Data Processing, Inc. compare | 2.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets