SNOW SNOW

Name: SNOW Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored March 27, 2026

Price at analysis: $151.85

Crucible Score

53.5

Quality × Value Composite

KQI — Quality

62.2

C+

Fundamental Quality Index

KVI — Value

42.8

Valuation Attractiveness Index

Crucible Verdict — SNOW

Snowflake shows the classic high-growth tech profile with exceptional growth metrics (83) and strong competitive positioning, but financial quality lags significantly at just 31 despite a 94% earnings beat rate under Frank Slootman's leadership. SNOW trades at a 14% discount to fair value, creating an interesting entry point for investors willing to bet on continued execution in the cloud data platform space.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality⚠

31.4

Growth Profile

83.2

Moat Durability

78.8

Management Effectiveness

57.6

Diversification & Resilience

51.2

Market Position

73.0

Weakest dimension: Financial Quality (31.4)

◆ KVI Value Dimensions

DCF Margin of Safety

59.0

FCF Yield & Cash Returns

27.7

Relative Valuation

41.6

Growth-Adjusted Value

35.0

Historical Valuation

50.0

Macro Context

10.4

◆ DCF Valuation Scenarios

Bear Case

$105.42

Base Case

$172.38

Bull Case

$274.91

Price at Analysis

$151.85

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$105.42	18.0%	15.0%	11.1%
🟢 Base	$172.38	22.0%	20.0%	10.5%
🟢 Bull	$274.91	27.0%	25.0%	9.9%

Key Assumptions: SNOW remains deeply unprofitable on a GAAP basis but generates strong FCF (~24% margin most recent year) due to heavy stock-based compensation. Revenue growth is decelerating from ~70% to ~29% YoY; projections assume continued deceleration toward 10-15% terminal growth. Operating margins are assumed to turn positive by years 3-5 as the company scales, reaching 15-25% by year 10 depending on scenario, reflecting the transition from hypergrowth to mature SaaS economics. WACC uses CAPM with 5.5% ERP and beta of 1.21, with scenario adjustments of +/- 60bps. Net debt is approximately -$87M (net cash position).

◆ Financial Snapshot

Profitability

Gross Margin67.2%

Operating Margin-30.6%

Net Margin-28.4%

ROIC-29.1%

ROE-5.8%

Balance Sheet

Balance SheetCR: 1.30

Cash Conversion

Capital IntensityCapex/Rev: 2.2%

Altman Z-Score3.07 (Safe)

Piotroski F-Score4/9 (Mixed)

Growth

Revenue CAGR40.0% CAGR

Earnings CAGR26.2% CAGR

Growth ConsistencyCV: 0.64

Segment Breadth2/2 growing (100%)

Quarterly TrendMargin↑, WC↓, Exp↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEOFrank Slootman · 7 years

CEO Ownership6.8%

Compensation99% performance-based

Insider ActivitySelling

Earnings Beat Rate94% (21/22)

◆ Related Companies in Our Universe

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ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted March 27, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.