Snowflake (SNOW) Net Margin (2019 - 2026)
Snowflake (SNOW) reported Net Margin of -12.39% for fiscal Q2 2027 (quarter ended Jul 31, 2026), up 13.63 percentage points from -26.03% a year earlier and up 8.85 percentage points from the prior quarter.
Snowflake (SNOW) Net Margin (2019 - 2026) Analysis & Trends
Over the twelve months ended Jul 31, 2026, Snowflake's Net Margin came in at -20.07%, up 13.45 percentage points year-over-year; for FY2026 (ended Jan 31, 2026), it came in at -28.43%, up 7.02 percentage points from FY2025.
- Net Margin has a five-year change of +62.63 percentage points (FY2021 to FY2026).
- By fiscal year, Net Margin came in at -35.45% in FY2025 (-5.66 pp), -29.79% in FY2024 (+8.78 pp), -38.57% in FY2023 (+17.20 pp) and -55.76% in FY2022 (+35.29 pp).
- The fiscal Q2 2027 figure ranks as the highest quarterly Net Margin in data going back to fiscal Q3 2020.
- Year over year, Net Margin has now increased in each of the last five quarters, with an average year-over-year change of +5.47 percentage points over the last eight quarters.
- The high point for year-over-year Net Margin in five years was fiscal Q4 2022 (a gain of 70.01 percentage points); the low point was fiscal Q4 2025 (a drop of 11.33 percentage points).
- Per Business Quant data, the three fiscal quarters before Q2 2027 came in at -21.25% (Q1 2027), -24.11% (Q4 2026) and -24.24% (Q3 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 264.72 Bn | 249.79 Bn | 2.30 Bn | -8.27% |
| 2 | CrowdStrike Holdings | 238.73 Bn | 219.14 Bn | 1.10 Bn | 0.36% |
| 3 | Fortinet | 127.27 Bn | 113.20 Bn | 1.64 Bn | 29.61% |
| 4 | Snowflake | 110.23 Bn | 97.55 Bn | 1.04 Bn | -12.39% |
| 5 | Datadog | 89.17 Bn | 70.81 Bn | 881.34 Mn | 3.97% |
| 6 | Zscaler | 33.92 Bn | 20.04 Bn | - | - |
| 7 | Okta | 33.82 Bn | 23.92 Bn | 641.00 Mn | 14.41% |
| 8 | Axon Enterprise | 33.04 Bn | 27.56 Bn | 546.45 Mn | 3.25% |
| 9 | MongoDB | 27.87 Bn | 18.34 Bn | 569.77 Mn | 5.30% |
| 10 | F5 | 25.05 Bn | 19.46 Bn | 711.51 Mn | 24.07% |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | -12.39% |
| Apr 30, 2026 | -21.25% |
| Jan 31, 2026 | -24.11% |
| Oct 31, 2025 | -24.24% |
| Jul 31, 2025 | -26.03% |
| Apr 30, 2025 | -41.27% |
| Jan 31, 2025 | -33.19% |
| Oct 31, 2024 | -34.42% |
| Jul 31, 2024 | -36.47% |
| Apr 30, 2024 | -38.25% |
| Jan 31, 2024 | -21.86% |
| Oct 31, 2023 | -29.18% |
| Jul 31, 2023 | -33.66% |
| Apr 30, 2023 | -36.18% |
| Jan 31, 2023 | -35.17% |
| Oct 31, 2022 | -36.07% |
| Jul 31, 2022 | -44.81% |
| Apr 30, 2022 | -39.25% |
| Jan 31, 2022 | -34.44% |
| Oct 31, 2021 | -46.30% |
Snowflake Net 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=net-margin&ticker=SNOW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=SNOW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();