Snap Inc. (SNAP) financials
NYSE · Communication Services · Internet Content & Information · 5,261 employees · CEO Evan T. Spiegel
- Price
- $5.34 -5.99%
- Market cap
- $9.03B
- Enterprise value
- $8.92B
- Last report
- Q2 '26 filed 2026-08-04
- Next report
- 2026-11-04 EPS est. $0.00
Revenue (TTM)$6.35B+12.6% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-5.1%+6.5 pp vs a year agoOperating income -$324M
Net income (TTM)-$311M+43.0% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$706M+79.8% vs a year agoCapex $214M
Diluted EPS (TTM)-$0.19+43.1% vs a year agoSum of the last 4 quarters
Net cash$1.82B+239.8% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $9.03B EV $8.92B
- Revenue
- $6.35B Trailing 12 months
- Revenue growth
- +15% FY2026 consensus
- Profit margin
- -4.9% Net income / revenue, TTM
- P/E
- -28.9× Forward -113.5× (FY2026)
- P/S
- 1.4× Price / sales, TTM
- EV / EBITDA
- 900.1× TTM
- Free cash flow
- $706M Trailing 12 months
- Net income
- -$311M Trailing 12 months
- Revenue estimate
- $6.82B FY2026 consensus
- Earnings
- 2026-11-04 Revenue est. $1.73B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-03): revenue beat by 3.9%, EPS beat by 17.9%Revenue $1.6B vs $1.54B expected (+3.9%); EPS -$0.10 vs -$0.12 (+17.9%).
- Revenue growth accelerating: 18.9% year on yearQ2 '26 revenue $1.6B, against an average of 10.2% over the four quarters before.
- Operating margin -5.1% (TTM), +6.5 pp on a year agoOperating income grew 50.5% while revenue grew 12.6%.
- Capex 3.4% of revenue (a year ago 3.4%)$214M invested in the last 4 quarters (+9.9% on a year earlier). Free cash flow $706M.
- Diluted share count up 0.0% in a year1.68B diluted shares in Q2 '26, 1.67B a year earlier.
- Net cash $1.82BCash + short-term investments $2.66B, debt incl. leases $844M; a year ago net debt $1.3B.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $1.6B | $1.34B | +18.9% |
| Gross margin | 58.2% | 51.4% | +6.8 pp |
| Operating income | -$171M | -$260M | +34.3% |
| Operating margin | -10.7% | -19.3% | +8.6 pp |
| Net income | -$164M | -$263M | +37.6% |
| Diluted EPS | -$0.10 | -$0.16 | +37.5% |
| Operating cash flow | $176M | $88.5M | +99.1% |
| Capex | $55.7M | $64.7M | -13.9% |
| Free cash flow | $121M | $23.8M | +406.6% |
| R&D | $542M | $443M | +22.3% |
| Stock-based compensation | $263M | $252M | +4.5% |
Reported vs consensus
2026-08-03| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $1.6B | $1.54B | +3.9% |
| EPS (as estimated) | -$0.10 | -$0.12 | +17.9% |
From the report of 2026-08-03 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Advertising Revenue | $1.28B | +9.3% | 80.2% | $5.33B | – | |
| Other Revenue | $316M | +84.7% | 19.8% | $1.02B | – |
Revenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| North America | $905M | +12.5% | 56.6% | $3.59B | +6.6% | |
| Rest Of World | $340M | +18.9% | 21.3% | $1.47B | +16.2% | |
| Europe | $354M | +39.2% | 22.1% | $1.28B | +28.5% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $919M
- Capex
- -$214M
- Buybacks
- $593M
- Dividends
- $0
- Acquisitions
- -$65M
- Net debt issued
- -$1.48B
- Stock-based compensation
- $1.03B
- Free cash flow
- $706M
- Returned to shareholders / FCF
- -84.1%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -28.9× | – | – |
| EV / EBITDA | 900.1× | – | – |
| EV / Sales | 1.4× | 7.0× | 2.9× – 18.0× |
| Price / FCF | 12.8× | 297.4× | 31.6× – 784.6× |
| Price / Book | 4.6× | 9.9× | 5.6× – 19.3× |
| FCF yield | 7.8% | 1.0% | 0.1% – 3.2% |
| Return on invested capital | -5.2% | -14.2% | -20.3% – -8.2% |
| Return on equity | -14.6% | -34.3% | -55.4% – -12.9% |
Analysts
Consensus target $7.37 (+38.0%)
range $5.00 – $16.00 · rating Hold
Strong buy0
Buy28
Hold40
Sell5
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $6.82B | +14.9% | -$0.05 | +82.6% | -113.5× | 27 |
| FY2027 | $7.54B | +10.7% | $0.15 | +415.1% | 36.0× | 27 |
| FY2028 | $8.17B | +8.3% | $0.26 | +76.8% | 20.4× | 27 |
| FY2029 | $8.6B | +5.3% | $0.41 | +56.2% | 13.1× | 12 |
| FY2030 | $9.03B | +5.1% | $0.48 | +16.1% | 11.2× | 12 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 214 figures Snap Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $177M | $117M | +51.8% | $220M | $173M | +26.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.24B | $1.16B | +6.2% | $1.37B | $1.35B | +1.8% |
| Accrued Liabilities, Current | $1.05B | $954M | +10.5% | $972M | $1.01B | -3.7% |
| Accrued Professional Fees, Current | $71.4M2025-12-31 | $69.6M | +2.6% | $71.4M | $69.6M | +2.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $370M2025-12-31 | $329M | +12.6% | $370M | $329M | +12.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $8.74M | $24.8M | -64.7% | $26.7M | $2.69M | +890.8% |
| Additional Paid in Capital | $17.1B | $16.1B | +6.3% | $16.6B | $15.6B | +6.3% |
| Advertising Expense | – | – | – | $23.6M | $57.7M | -59.1% |
| Amortization of Debt Issuance Costs and Discounts | -$967K | -$550K | -75.8% | $6.88M | $9.39M | -26.7% |
| Amortization of Intangible Assets | $10.7M | $12.1M | -11.6% | $45.5M | $60M | -24.2% |
| Assets | $7.47B | $7.4B | +1.0% | $7.68B | $7.94B | -3.3% |
| Assets, Current | $4.21B | $4.28B | -1.8% | $4.58B | $4.91B | -6.6% |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $32.5M | $29.3M | +10.9% |
| Cash and Cash Equivalents, at Carrying Value | $959M | $926M | +3.6% | $1.03B | $1.05B | -1.5% |
| Cash and Cash Equivalents, Fair Value Disclosure | $1.03B2025-12-31 | $1.05B | -1.5% | $1.03B | $1.05B | -1.5% |
| Cash Equivalents, at Carrying Value | $1.03B2025-12-31 | $1.05B | -1.5% | $1.03B | $1.05B | -1.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $960M | $929M | +3.4% | $1.03B | $1.05B | -1.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | -$103M | $12.9M | -899.9% | -$18.8M | -$732M | +97.4% |
| Common Stock, Shares, Outstanding | 1.73B | 1.73B | -0.1% | 1.76B | 1.74B | +1.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$170M | -$250M | +32.1% | -$436M | -$702M | +37.8% |
| Contract with Customer, Liability, Current | $207M | $140M | +47.9% | $145M | $113M | +28.8% |
| Contractual Obligation | $2.6B | $4.3B | -39.5% | $3.42B | $4.94B | -30.7% |
| Contractual Obligation, to be Paid, after Year Five | $437M2025-12-31 | $423M | +3.3% | $437M | $423M | +3.3% |
| Contractual Obligation, to be Paid, Year Five | $98.4M2025-12-31 | $84.3M | +16.7% | $98.4M | $84.3M | +16.7% |
| Contractual Obligation, to be Paid, Year Four | $99.2M2025-12-31 | $87.2M | +13.8% | $99.2M | $87.2M | +13.8% |
| Contractual Obligation, to be Paid, Year One | $1.61B2025-12-31 | $1.46B | +10.3% | $1.61B | $1.46B | +10.3% |
| Contractual Obligation, to be Paid, Year Three | $104M2025-12-31 | $1.05B | -90.1% | $104M | $1.05B | -90.1% |
| Contractual Obligation, to be Paid, Year Two | $1.08B2025-12-31 | $1.84B | -41.4% | $1.08B | $1.84B | -41.4% |
| Cost of Revenue | $668M | $653M | +2.2% | $2.67B | $2.47B | +7.9% |
| Costs and Expenses | $1.77B | $1.6B | +10.3% | $6.46B | $6.15B | +5.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $0 | $5.22M | -100.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.93M | $13.3M | -85.5% |
| Current Income Tax Expense (Benefit) | – | – | – | $6.56M | $25.3M | -74.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4.63M | $6.81M | -32.0% |
| Debt and Equity Securities, Gain (Loss) | $129K | $1.21M | -89.3% | -$16.9M | -$8.46M | -100.2% |
| Debt Instrument, Face Amount | $3.47B | $3.51B | -1.1% | $3.47B | $3.69B | -5.9% |
| Debt Instrument, Repurchase Amount | $550M2025-08-31 | – | – | $418M2024-05-31 | – | – |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | -$109M2025-12-31 | $19.9M | -647.7% | -$109M | $19.9M | -647.7% |
| Debt Instrument, Unamortized Discount (Premium), Net | -$104M | -$105M | +1.8% | – | – | – |
| Debt Securities, Available-for-sale | $1.7B | $2B | -15.0% | $1.9B | $2.32B | -18.0% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | – | – | – | $5.21M2024-12-31 | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | – | – | – | $3.3M2024-12-31 | – | – |
| Debt Securities, Available-for-sale, Allowance for Credit Loss | $02025-12-31 | $0 | – | $0 | $0 | – |
| Debt Securities, Available-for-sale, Amortized Cost | – | – | – | $2.32B2024-12-31 | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $800M | $1B | -20.0% | $900M | $1.1B | -18.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.54M | $1.6M | -3.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $189K | -$2.29M | +108.2% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $2.79M | $330K | +746.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $1.06M | $1.03M | +3.3% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $199M2025-12-31 | $140M | +42.6% | $199M | $140M | +42.6% |
| Deferred Tax Assets, Gross | $4.95B2025-12-31 | $4.83B | +2.6% | $4.95B | $4.83B | +2.6% |
| Deferred Tax Assets, in Process Research and Development | $441M2025-12-31 | $599M | -26.4% | $441M | $599M | -26.4% |
| Deferred Tax Assets, Net | – | – | – | $422K2024-12-31 | $1.01M | -58.0% |
| Deferred Tax Assets, Operating Loss Carryforwards | $2.87B2025-12-31 | $2.76B | +3.9% | $2.87B | $2.76B | +3.9% |
| Deferred Tax Assets, Other | $98M2025-12-31 | $68M | +44.2% | $98M | $68M | +44.2% |
| Deferred Tax Assets, Tax Credit Carryforwards | $1.17B2025-12-31 | $1.06B | +10.3% | $1.17B | $1.06B | +10.3% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $23.7M2025-12-31 | $58.2M | -59.3% | $23.7M | $58.2M | -59.3% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $23.2M2025-12-31 | $16.4M | +41.5% | $23.2M | $16.4M | +41.5% |
| Deferred Tax Assets, Valuation Allowance | $4.81B2025-12-31 | $4.68B | +2.8% | $4.81B | $4.68B | +2.8% |
| Deferred Tax Liabilities, Gross | $148M2025-12-31 | $150M | -1.3% | $148M | $150M | -1.3% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02