Snowflake Inc. (SNOW) Cash Flow Statement
Where SNOW’s cash came from and went, FY2026
January 31, 2026 · U.S. dollars- Cash from operations
- $1.22B +27.3% vs FY2025
- Capital expenditures
- $101.6M 2.2% of revenue
- Free cash flow
- $1.12B 23.9% margin
- Returned to shareholders
- $873.5M 78% of free cash flow
- Change in cash
- $165.6M cash at year-end $2.86B
Drawn to scale: where the cash came from and how it was used. Hover for values.
SNOW operating cash flow, capex and free cash flow
SNOW cash flow trends, FY2015–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $79.1MFY2015 | $1.22BFY2026 | +35.5%/yr | |
| Capital expenditures | $41.9MFY2015 | $101.6MFY2026 | +10.4%/yr | |
| Free cash flow | $37.3MFY2015 | $1.12BFY2026 | +46.0%/yr | |
| Free cash flow margin | 6.3%FY2015 | 23.9%FY2026 | +17.6 pts | |
| Stock-based compensation | $22.4MFY2019 | $1.60BFY2026 | +84.0%/yr | |
| Share buybacks (net) | $90.6MFY2015 | $873.5MFY2026 | +28.6%/yr | |
| Capex / revenue | 7.1%FY2015 | 2.2%FY2026 | −5.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SNOW cash flow by activity
SNOW net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
SNOW cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$1.33B | −$1.29B | −$838.0M | −$797.5M | −$679.9M | −$539.1M | −$348.5M | −$178.0M | $40.9M | −$6.9M |
| Depreciation & amortization | $220.4M | $182.5M | $119.9M | $63.5M | $21.5M | $9.8M | $3.5M | $1.4M | $63.7M | $62.2M |
| Stock-based compensation | $1.60B | $1.48B | $1.17B | $861.5M | $605.1M | $301.4M | $78.4M | $22.4M | — | — |
| Change in working capital | $383.8M | $443.6M | $390.7M | $289.5M | $68.4M | $106.9M | $49.3M | $6.2M | $5.8M | $17.1M |
| Other non-cash items | $347.2M | $143.6M | $7.5M | $128.6M | $95.1M | $75.5M | $40.7M | $4.1M | −$45.2M | $6.7M |
| Cash from operating activities | $1.22B | $959.8M | $848.1M | $545.6M | $110.2M | −$45.4M | −$176.6M | −$144.0M | $65.2M | $79.1M |
| Investing activities | ||||||||||
| Capital expenditures | −$101.6M | −$46.3M | −$69.2M | −$49.1M | −$29.0M | −$40.3M | −$22.8M | −$4.0M | −$51.1M | −$41.9M |
| Investments (net) | $595.8M | $190.6M | $832.3M | −$597.9M | $32.5M | −$3.98B | $167.7M | −$358.6M | — | — |
| Acquisitions & other investing | −$182.0M | $46.3M | $69.2M | $49.1M | −$24.3M | −$14.4M | −$6.3M | $0 | — | — |
| Cash from investing activities | $312.2M | $190.6M | $832.3M | −$597.9M | −$20.8M | −$4.04B | $138.5M | −$362.6M | — | — |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | −$2.1M | — | — | — | — |
| Share repurchases & issuance (net) | −$873.5M | −$1.93B | −$591.7M | −$184.6M | $52.2M | −$30,000 | −$391,000 | −$29.6M | −$50.6M | −$90.6M |
| Net borrowing (repayment) | $0 | $2.30B | $0 | $0 | $0 | $2.1M | $2.1M | $2.1M | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $4.72B | $24.1M | $438.2M | $0 | $0 |
| Other financing | −$511.9M | −$594.2M | −$262.4M | $92.0M | $126.0M | $54.4M | $31.6M | $2.9M | −$43.9M | $136.4M |
| Cash from financing activities | −$1.39B | −$226.5M | −$854.1M | −$92.6M | $178.2M | $4.78B | $57.5M | $413.6M | −$94.6M | $45.8M |
| Summary | ||||||||||
| Net change in cash | $165.6M | $866.0M | $822.8M | −$145.8M | $250.5M | $693.2M | $19.4M | $122.6M | $16.5M | $34.6M |
| Cash at end of period | $2.86B | $2.63B | $1.76B | $939.9M | $1.09B | $835.2M | $142.0M | $122.6M | $215.6M | $90.6M |
| Free cash flow | $1.12B | $913.5M | $778.9M | $496.5M | $81.2M | −$85.7M | −$199.4M | −$148.0M | $14.1M | $37.3M |
| Free cash flow margin | 23.9% | 25.2% | 27.8% | 24.0% | 6.7% | −14.5% | −75.3% | −153.1% | 2.5% | 6.3% |
| Capex / revenue | 2.2% | 1.3% | 2.5% | 2.4% | 2.4% | 6.8% | 8.6% | 4.2% | 8.9% | 7.1% |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | 1.59 | — |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$191.7M | −$295.6M | −$309.6M | −$291.6M | −$297.9M | −$430.0M | −$325.7M | −$327.9M | −$317.8M | −$317.8M | −$169.9M | −$214.7M |
| Depreciation & amortization | $68.6M | $67.6M | $58.9M | $57.9M | $54.8M | $48.8M | $50.1M | $47.0M | $45.1M | $40.2M | $35.0M | $32.5M |
| Stock-based compensation | $423.6M | $402.5M | $403.6M | $412.3M | $404.2M | $379.5M | $428.1M | $363.3M | $356.0M | $331.9M | $305.5M | $298.3M |
| Change in working capital | −$255.5M | −$30.2M | $541.2M | −$80.6M | −$137.8M | $61.0M | $254.8M | −$21.3M | −$45.2M | $255.3M | $211.2M | −$15.3M |
| Other non-cash items | $46.4M | $99.0M | $86.9M | $39.6M | $51.6M | $169.1M | $25.4M | $40.6M | $31.7M | $45.9M | −$37.2M | $20.2M |
| Cash from operating activities | $91.4M | $243.2M | $781.2M | $137.5M | $74.9M | $228.4M | $432.7M | $101.7M | $69.9M | $355.5M | $344.6M | $120.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$7.6M | −$10.5M | −$16.1M | −$23.9M | −$16.7M | −$45.0M | −$11.3M | −$13.4M | −$5.0M | −$16.5M | −$20.1M | −$18.6M |
| Investments (net) | −$339.9M | −$341.6M | $451.7M | $272.1M | −$299.3M | −$56.0M | $224.9M | −$267.1M | $384.1M | −$151.2M | $522.6M | $570.9M |
| Acquisitions & other investing | −$2.0M | −$252.5M | −$16.4M | $0 | $16.7M | $45.0M | $11.3M | $13.4M | $5.0M | $16.5M | $20.1M | $18.6M |
| Cash from investing activities | −$349.4M | −$604.5M | $419.2M | $248.2M | −$299.3M | −$56.0M | $224.9M | −$267.1M | $384.1M | −$151.2M | $522.6M | $570.9M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | −$107.0M | — |
| Share repurchases & issuance (net) | $0 | −$300.0M | −$150.0M | −$232.9M | −$403.0M | −$490.6M | $0 | −$1.02B | −$400.0M | −$516.3M | −$107.0M | −$400.0M |
| Net borrowing (repayment) | — | — | $0 | — | — | — | $0 | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$117.1M | −$71.5M | −$175.3M | −$129.1M | $269.0M | −$73.4M | −$120.1M | $2.03B | −$90.5M | −$117.2M | $125.3M | −$59.6M |
| Cash from financing activities | −$117.1M | −$371.5M | −$325.3M | −$362.0M | −$134.0M | −$564.1M | −$120.1M | $1.02B | −$490.5M | −$633.5M | −$88.6M | −$459.7M |
| Summary | ||||||||||||
| Net change in cash | −$377.0M | −$735.6M | $886.5M | $23.8M | −$358.6M | −$385.7M | $479.9M | $866.9M | −$48.4M | −$432.3M | $780.6M | $227.0M |
| Cash at end of period | $1.75B | $2.13B | $2.83B | $1.98B | $1.96B | $2.24B | $2.63B | $2.15B | $1.28B | $1.33B | $1.76B | $982.2M |
| Free cash flow | $83.8M | $232.8M | $765.1M | $113.6M | $58.2M | $183.4M | $421.4M | $88.3M | $64.8M | $338.9M | $324.5M | $102.3M |
| Free cash flow margin | 5.4% | 16.7% | 59.6% | 9.4% | 5.1% | 17.6% | 42.7% | 9.4% | 7.5% | 40.9% | 41.9% | 13.9% |
| Capex / revenue | 0.5% | 0.8% | 1.3% | 2.0% | 1.5% | 4.3% | 1.1% | 1.4% | 0.6% | 2.0% | 2.6% | 2.5% |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
SNOW cash generation
In fiscal 2026 (ended January 31, 2026), Snowflake generated $1.2 billion of cash from operations (up 27.3%) and spent $101.6 million on capital expenditures, leaving free cash flow of $1.1 billion, 23.9% of revenue. It returned $873.5 million to shareholders through dividends ($0) and net share buybacks ($873.5 million). Cash and equivalents rose by $165.6 million over the year.
Related: SNOW income statement, SNOW balance sheet. See the SNOW stock overview for the latest quote and news.
SNOW cash flow FAQ
What is Snowflake's free cash flow?
Snowflake's free cash flow was $1.1 billion in fiscal 2026: $1.2 billion of operating cash flow minus $101.6 million of capital expenditures It was $913.5 million a year earlier..
How much cash does Snowflake generate from operations?
Snowflake generated $1.2 billion of cash from operating activities in fiscal 2026.
How much does Snowflake spend on capital expenditures?
Snowflake spent $101.6 million on capital expenditures in fiscal 2026, 2.2% of revenue, compared with $46.3 million the year before.
How much stock does Snowflake buy back?
Snowflake spent $873.5 million on net share repurchases in fiscal 2026.