Snowflake (SNOW) Gross Margin (2019 - 2026)
Snowflake's (SNOW) quarterly Gross Margin came in at 67.02% in Q3 2026, down 50.0% year-over-year from 134.05% in Q3 2025, and up 0.63% quarter-over-quarter from 66.61% in Q2 2026.
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Analysis
Snowflake (SNOW) Gross Margin (2019 - 2026) Analysis & Trends
Snowflake has disclosed Gross Margin across 8 years of filings, most recently posting 67.02% for Q3 2026.
- In Q3 2026, Gross Margin fell 50.0% year-over-year to 67.02%; the TTM figure through Jul 2026 stood at 67.03% (up 43.0% YoY), while the FY2026 annual figure was 67.17%, up 66.0% from the prior year.
- Gross Margin came in at 67.02% for Q3 2026 at Snowflake, up from 66.61% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 68.82% in Q4 2023 to a low of 64.98% in Q2 2022.
- Average Gross Margin over 5 years is 66.63%, with a median of 66.61% recorded in 2026.
- Year-over-year, Gross Margin surged 856 bps in 2022 and plunged 288 bps in 2024.
- Over 5 years, Gross Margin stood at 65.76% in 2022, then advanced by 5 bps to 68.82% in 2023, then dropped by 4 bps to 65.94% in 2024, then advanced by 3 bps to 67.77% in 2025, then decreased by 1 bps to 67.02% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 67.02% in Q3 2026, 66.61% in Q2 2026, and 66.8% in Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | 67.57% |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 74.57% |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 80.24% |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | 67.02% |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | 78.59% |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | 60.42% |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | 73.83% |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | 79.63% |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 0.04% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 67.02% |
| Apr 30, 2026 | 66.61% |
| Jan 31, 2026 | 66.80% |
| Oct 31, 2025 | 67.77% |
| Jul 31, 2025 | 67.53% |
| Apr 30, 2025 | 66.53% |
| Jan 31, 2025 | 66.23% |
| Oct 31, 2024 | 65.94% |
| Jul 31, 2024 | 66.84% |
| Apr 30, 2024 | 67.12% |
| Jan 31, 2024 | 68.79% |
| Oct 31, 2023 | 68.82% |
| Jul 31, 2023 | 67.60% |
| Apr 30, 2023 | 66.42% |
| Jan 31, 2023 | 65.08% |
| Oct 31, 2022 | 65.76% |
| Jul 31, 2022 | 65.16% |
| Apr 30, 2022 | 64.98% |
| Jan 31, 2022 | 65.04% |
| Oct 31, 2021 | 63.88% |
API Access
Snowflake Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=SNOW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "SNOW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=SNOW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();