Snap (SNAP) Financials

$5.72 -0.01 (-0.09%)

Closing price 05/22/2026 03:59 PM Eastern

Extended Trading

$5.70 -0.01 (-0.26%)

As of 05/22/2026 07:59 PM Eastern

Annual Income Statements for Snap

This table shows Snap's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-373	-515	-3,445	-1,256	-1,034	-945	-488	-1,430	-1,322	-698	-460
Consolidated Net Income / (Loss)	-373	-515	-3,445	-1,256	-1,034	-945	-488	-1,430	-1,322	-698	-460
Net Income / (Loss) Continuing Operations	-373	-515	-3,445	-1,256	-1,034	-945	-488	-1,430	-1,322	-698	-460
Total Pre-Tax Income	-380	-522	-3,463	-1,253	-1,033	-926	-474	-1,401	-1,294	-672	-451
Total Operating Income	-382	-520	-3,486	-1,268	-1,103	-862	-702	-1,395	-1,398	-787	-532
Total Gross Profit	-124	-47	107	382	820	1,324	2,367	2,787	2,492	2,887	3,262
Total Revenue	59	404	825	1,180	1,716	2,507	4,117	4,602	4,606	5,361	5,931
Operating Revenue	59	404	825	1,180	1,716	2,507	4,117	4,602	4,606	5,361	5,931
Total Cost of Revenue	182	452	717	799	896	1,183	1,750	1,815	2,114	2,474	2,670
Operating Cost of Revenue	182	452	717	799	896	1,183	1,750	1,815	2,114	2,474	2,670
Total Operating Expenses	258	473	3,593	1,650	1,923	2,186	3,069	4,182	3,890	3,674	3,794
Selling, General & Admin Expense	149	165	1,536	477	581	529	711	953	857	919	979
Marketing Expense	27	124	523	401	459	555	793	1,119	1,122	1,064	1,021
Research & Development Expense	82	184	1,535	772	884	1,102	1,565	2,110	1,911	1,692	1,794
Total Other Income / (Expense), net	1.25	-1.34	22	15	70	-64	228	-5.39	104	115	81
Interest Expense	-	1.42	3.46	3.89	25	97	18	21	22	22	122
Interest & Investment Income	1.40	4.65	21	27	36	18	5.20	59	168	153	134
Other Income / (Expense), net	-0.15	-4.57	4.53	-8.25	59	15	240	-43	-42	-17	69
Income Tax Expense	-7.59	-7.08	-18	2.55	0.39	19	14	29	28	26	9.35
Basic Earnings per Share	($0.51)	($0.64)	($2.95)	($0.97)	($0.75)	($0.65)	($0.31)	($0.89)	($0.82)	($0.42)	($0.27)
Weighted Average Basic Shares Outstanding	-	807.87M	1.17B	1.30B	1.38B	1.46B	1.56B	1.61B	1.61B	1.66B	1.69B
Diluted Earnings per Share	($0.51)	($0.64)	($2.95)	($0.97)	($0.75)	($0.65)	($0.31)	($0.89)	($0.82)	($0.42)	($0.27)
Weighted Average Diluted Shares Outstanding	-	807.87M	1.17B	1.30B	1.38B	1.46B	1.56B	1.61B	1.61B	1.66B	1.69B
Weighted Average Basic & Diluted Shares Outstanding	-	804.10M	1.17B	1.29B	1.42B	1.51B	1.62B	1.58B	1.65B	1.70B	1.69B

This table shows Snap's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-368	-248	-305	-249	-153	9.10	-140	-263	-104	45	-89
Consolidated Net Income / (Loss)	-368	-248	-305	-249	-153	9.10	-140	-263	-104	45	-89
Net Income / (Loss) Continuing Operations	-368	-248	-305	-249	-153	9.10	-140	-263	-104	45	-89
Total Pre-Tax Income	-362	-245	-298	-243	-145	14	-131	-255	-103	38	-86
Total Operating Income	-380	-249	-333	-254	-173	-27	-194	-260	-128	50	-74
Total Gross Profit	633	740	620	648	734	886	724	692	833	1,014	864
Total Revenue	1,189	1,361	1,195	1,237	1,373	1,557	1,363	1,345	1,507	1,716	1,529
Operating Revenue	1,189	1,361	1,195	1,237	1,373	1,557	1,363	1,345	1,507	1,716	1,529
Total Cost of Revenue	556	622	575	589	639	672	640	653	674	702	665
Operating Cost of Revenue	556	622	575	589	639	672	640	653	674	702	665
Total Operating Expenses	1,013	988	953	902	907	913	917	951	961	964	938
Selling, General & Admin Expense	221	229	227	229	221	241	235	250	251	242	221
Marketing Expense	297	276	276	266	273	248	258	258	256	249	239
Research & Development Expense	495	484	450	406	413	423	424	443	453	473	478
Total Other Income / (Expense), net	18	3.74	35	11	28	41	63	4.77	25	-12	-11
Interest Expense	5.52	5.28	4.74	5.11	5.88	5.81	23	28	34	36	37
Interest & Investment Income	44	43	40	36	39	39	37	33	32	32	26
Other Income / (Expense), net	-21	-34	-0.08	-21	-4.36	8.38	49	-0.82	28	-6.95	-1.01
Income Tax Expense	5.85	3.28	6.93	5.20	8.33	5.16	8.43	7.66	0.51	-7.25	3.19
Basic Earnings per Share	($0.23)	($0.14)	($0.19)	($0.15)	($0.09)	$0.01	($0.08)	($0.16)	($0.06)	$0.03	($0.05)
Weighted Average Basic Shares Outstanding	1.63B	1.61B	1.65B	1.64B	1.66B	1.66B	1.70B	1.67B	1.70B	1.69B	1.69B
Diluted Earnings per Share	($0.23)	($0.14)	($0.19)	($0.15)	($0.09)	$0.01	($0.08)	($0.16)	($0.06)	$0.03	($0.05)
Weighted Average Diluted Shares Outstanding	1.63B	1.61B	1.65B	1.64B	1.66B	1.66B	1.70B	1.67B	1.70B	1.69B	1.69B
Weighted Average Basic & Diluted Shares Outstanding	1.65B	1.65B	1.64B	1.66B	1.68B	1.70B	1.67B	1.69B	1.72B	1.69B	1.66B

This table details how cash moves in and out of Snap's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	243	-484	174	52	132	25	1,448	-571	359	-732	-19
Net Cash From Operating Activities	-307	-611	-735	-690	-305	-168	293	185	247	413	656
Net Cash From Continuing Operating Activities	-307	-611	-735	-690	-305	-168	293	185	247	413	656
Net Income / (Loss) Continuing Operations	-373	-515	-3,445	-1,256	-1,034	-945	-488	-1,430	-1,322	-698	-460
Consolidated Net Income / (Loss)	-373	-515	-3,445	-1,256	-1,034	-945	-488	-1,430	-1,322	-698	-460
Depreciation Expense	15	29	61	92	87	87	119	202	168	158	164
Amortization Expense	-	-	0.00	0.00	18	81	4.31	6.87	7.36	9.39	6.88
Non-Cash Adjustments To Reconcile Net Income	74	33	2,656	570	675	802	901	1,512	1,401	1,089	1,020
Changes in Operating Assets and Liabilities, net	-23	-158	-6.43	-96	-52	-193	-243	-106	-7.54	-146	-74
Net Cash From Investing Activities	-101	-1,014	-1,357	694	-729	-730	90	-1,062	571	-717	173
Net Cash From Continuing Investing Activities	-101	-1,014	-1,357	694	-729	-730	90	-1,062	571	-717	173
Purchase of Property, Plant & Equipment	-19	-66	-85	-120	-36	-58	-70	-129	-212	-195	-219
Acquisitions	-58	-105	-386	-0.82	-77	-169	-311	-67	-50	0.00	-35
Purchase of Investments	-	-1,565	-3,863	-1,654	-2,477	-3,636	-2,480	-3,512	-2,056	-2,290	-1,298
Sale and/or Maturity of Investments	-	729	2,994	2,483	1,793	3,127	2,953	2,664	2,892	1,768	1,729
Other Investing Activities, net	-24	-6.51	-18	-14	-4.45	5.51	-1.90	-18	-2.78	-0.10	-3.58
Net Cash From Financing Activities	650	1,142	2,265	47	1,166	923	1,065	307	-459	-429	-848
Net Cash From Continuing Financing Activities	650	1,142	2,265	47	1,166	923	1,065	307	-459	-429	-848
Repayment of Debt	-	-5.00	-	-	-	0.00	0.00	-3.01	0.00	-1.80	-45
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	0.00	-859	-1,995
Repurchase of Common Equity	-	-16	-9.67	-	-	0.00	0.00	-1,001	-189	-311	-751
Issuance of Debt	-	5.00	0.00	0.00	1,251	989	1,137	1,484	0.00	740	2,014
Other Financing Activities, net	0.06	0.73	-383	47	-86	-66	-72	-173	-269	2.94	-72
Cash Interest Paid	-	-	-	0.00	1.55	12	11	8.87	10	10	65
Cash Income Taxes Paid	0.00	1.69	6.23	3.60	0.16	3.69	25	12	31	25	27

This table details how cash moves in and out of Snap's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-29	583	-719	1.15	-97	82	-134	13	27	76	32
Net Cash From Operating Activities	13	165	88	-21	116	231	152	88	146	270	327
Net Cash From Continuing Operating Activities	13	165	88	-21	116	231	152	88	146	270	327
Net Income / (Loss) Continuing Operations	-368	-248	-305	-249	-153	9.10	-140	-263	-104	45	-89
Consolidated Net Income / (Loss)	-368	-248	-305	-249	-153	9.10	-140	-263	-104	45	-89
Depreciation Expense	41	52	42	38	39	40	38	40	43	43	45
Amortization Expense	1.84	1.84	1.74	2.21	2.72	2.72	7.64	-0.55	0.69	-0.90	-0.93
Non-Cash Adjustments To Reconcile Net Income	393	382	256	287	276	257	210	277	250	284	271
Changes in Operating Assets and Liabilities, net	-55	-23	94	-100	-48	-77	36	35	-43	-102	101
Net Cash From Investing Activities	-32	623	-131	-214	-223	-149	2.75	215	-108	63	57
Net Cash From Continuing Investing Activities	-32	623	-131	-214	-223	-149	2.75	215	-108	63	57
Purchase of Property, Plant & Equipment	-73	-54	-50	-52	-44	-48	-37	-65	-53	-64	-41
Acquisitions	-	-	-	-	-	-	0.00	-	-	-	-39
Purchase of Investments	-537	-5.96	-466	-777	-705	-342	-236	-411	-389	-263	-308
Sale and/or Maturity of Investments	579	685	385	615	526	242	276	727	334	393	446
Net Cash From Financing Activities	-10	-205	-676	237	10	-	-289	-291	-12	-257	-352
Net Cash From Continuing Financing Activities	-10	-205	-676	237	10	-	-289	-291	-12	-257	-352
Repayment of Debt	-	-	-441	-420	-	-	-1,447	-38	-553	1,993	-1.60
Repurchase of Common Equity	-	-189	-235	-76	-	-	-257	-243	-	-250	-350
Issuance of Debt	-	-	0.00	-	-	-	1,473	-	541	-	0.00
Other Financing Activities, net	-10	-15	0.07	-7.44	10	-	-58	-9.56	-	-4.63	0.00

This table presents Snap's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,723	3,422	2,714	4,012	5,024	7,536	8,030	7,968	7,936	7,678
Total Current Assets	1,180	2,367	1,676	2,644	3,338	4,854	5,257	4,976	4,907	4,585
Cash & Equivalents	150	334	387	520	546	1,994	1,423	1,780	1,047	1,030
Short-Term Investments	837	1,709	892	1,592	1,992	1,699	2,516	1,764	2,330	1,910
Accounts Receivable	163	279	355	492	744	1,069	1,183	1,278	1,348	1,372
Prepaid Expenses	30	44	42	39	56	92	134	154	182	272
Plant, Property, & Equipment, net	101	167	213	174	179	203	272	410	489	578
Total Noncurrent Assets	442	888	826	1,194	1,508	2,480	2,501	2,582	2,541	2,515
Goodwill	319	640	632	761	939	1,588	1,646	1,692	1,690	1,721
Intangible Assets	76	166	126	92	106	278	204	146	86	67
Other Noncurrent Operating Assets	47	82	67	341	462	614	651	743	764	727
Total Liabilities & Shareholders' Equity	1,723	3,422	2,714	4,012	5,024	7,536	8,030	7,968	7,936	7,678
Total Liabilities	204	429	403	1,752	2,694	3,746	5,449	5,554	5,486	5,396
Total Current Liabilities	157	346	293	500	667	852	1,216	1,134	1,244	1,287
Short-Term Debt	-	-	-	-	-	-	-	0.00	36	47
Accounts Payable	8.42	71	31	47	72	125	182	279	173	220
Accrued Expenses	148	275	262	411	554	674	987	806	1,009	972
Other Current Liabilities	-	-	-	42	41	52	46	49	25	48
Total Noncurrent Liabilities	47	83	110	1,252	2,027	2,894	4,233	4,420	4,242	4,109
Long-Term Debt	-	-	-	892	1,675	2,253	3,743	3,749	3,608	3,490
Other Noncurrent Operating Liabilities	47	83	110	361	352	641	491	670	634	620
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,519	2,992	2,311	2,260	2,330	3,790	2,581	2,414	2,451	2,281
Total Preferred & Common Equity	1,519	2,992	2,311	2,260	2,330	3,790	2,581	2,414	2,451	2,281
Total Common Equity	1,519	2,992	2,311	2,260	2,330	3,790	2,581	2,414	2,451	2,281
Common Stock	2,729	7,635	8,220	9,205	10,200	12,069	13,310	14,613	15,644	16,637
Retained Earnings	-1,208	-4,657	-5,913	-6,946	-7,892	-8,284	-10,215	-11,727	-12,735	-13,947
Treasury Stock	-	-	-	-	-	-	-501	-	-461	-436
Accumulated Other Comprehensive Income / (Loss)	-2.06	14	3.15	0.57	21	5.52	-14	7.13	2.69	27

This table presents Snap's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	8,285	7,888	7,666	7,723	7,167	7,420	7,591	7,589	7,399	7,578	7,502
Total Current Assets	5,538	5,143	4,840	4,874	4,187	4,421	4,589	4,577	4,284	4,476	4,280
Cash & Equivalents	1,919	1,579	1,229	1,199	1,060	1,061	965	911	926	953	1,062
Short-Term Investments	2,510	2,525	2,461	2,414	1,851	2,021	2,227	2,296	1,967	2,040	1,761
Accounts Receivable	993	893	996	1,117	1,108	1,142	1,196	1,158	1,165	1,248	1,187
Prepaid Expenses	116	147	154	144	167	198	201	213	226	235	269
Plant, Property, & Equipment, net	241	303	330	377	426	444	466	501	544	557	581
Total Noncurrent Assets	2,507	2,442	2,497	2,471	2,554	2,554	2,536	2,511	2,571	2,544	2,641
Goodwill	1,633	1,649	1,692	1,692	1,692	1,691	1,694	1,692	1,721	1,721	1,754
Intangible Assets	229	187	203	184	128	113	99	75	89	77	94
Other Noncurrent Operating Assets	645	607	602	596	735	750	743	744	761	746	794
Total Liabilities & Shareholders' Equity	8,285	7,888	7,666	7,723	7,167	7,420	7,591	7,589	7,399	7,578	7,502
Total Liabilities	5,385	5,310	5,161	5,230	5,036	5,353	5,381	5,278	5,330	5,351	5,417
Total Current Liabilities	1,140	1,091	938	1,010	1,112	1,112	1,136	1,064	1,103	1,221	1,214
Short-Term Debt	-	-	-	-	37	36	36	36	0.00	47	47
Accounts Payable	189	142	164	129	246	180	157	209	117	154	238
Accrued Expenses	893	899	716	819	830	875	921	796	954	977	895
Other Current Liabilities	58	51	58	62	-	21	21	23	32	43	33
Total Noncurrent Liabilities	4,245	4,218	4,224	4,220	3,924	4,241	4,245	4,213	4,227	4,130	4,203
Long-Term Debt	3,741	3,744	3,746	3,748	3,301	3,603	3,605	3,577	3,576	3,491	3,489
Other Noncurrent Operating Liabilities	120	474	478	473	68	639	640	637	651	639	715
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,900	2,578	2,505	2,493	2,131	2,067	2,210	2,311	2,069	2,227	2,084
Total Preferred & Common Equity	2,900	2,578	2,505	2,493	2,131	2,067	2,210	2,311	2,069	2,227	2,084
Total Common Equity	2,900	2,578	2,505	2,493	2,131	2,067	2,210	2,311	2,069	2,227	2,084
Common Stock	12,860	13,620	13,934	14,288	14,873	15,126	15,391	15,879	16,127	16,384	16,888
Retained Earnings	-9,426	-10,543	-10,921	-11,289	-12,267	-12,591	-12,745	-13,132	-13,638	-13,742	-14,386
Treasury Stock	-	-497	-493	-488	-476	-	-466	-449	-	-440	-432
Accumulated Other Comprehensive Income / (Loss)	-33	-1.66	-16	-18	0.75	2.77	29	13	25	26	15

This table displays calculated financial ratios and metrics derived from Snap's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	589.50%	103.95%	43.09%	45.33%	46.11%	64.25%	11.78%	0.09%	16.40%	10.63%
EBITDA Growth	0.00%	-35.26%	-589.69%	65.35%	20.74%	27.72%	50.15%	-263.07%	-2.95%	49.67%	54.01%
EBIT Growth	0.00%	-37.47%	-563.12%	63.32%	18.20%	18.89%	45.47%	-211.29%	-0.21%	44.19%	42.39%
NOPAT Growth	0.00%	-36.32%	-569.81%	63.61%	13.02%	21.87%	18.56%	-98.74%	-0.22%	43.70%	32.41%
Net Income Growth	0.00%	-38.01%	-569.41%	63.54%	17.70%	8.59%	48.36%	-192.99%	7.50%	47.23%	34.01%
EPS Growth	0.00%	-25.49%	-360.94%	67.12%	22.68%	13.33%	52.31%	-187.10%	7.87%	48.78%	35.71%
Operating Cash Flow Growth	0.00%	-99.35%	-20.19%	6.09%	55.80%	45.03%	274.70%	-36.97%	33.53%	67.73%	58.69%
Free Cash Flow Firm Growth	0.00%	0.00%	-219.00%	66.04%	19.71%	-32.45%	-33.14%	26.47%	-20.17%	46.46%	18.19%
Invested Capital Growth	0.00%	0.00%	78.59%	8.71%	0.67%	41.27%	60.15%	1.43%	9.87%	3.78%	5.86%
Revenue Q/Q Growth	0.00%	0.00%	17.02%	9.67%	11.08%	16.25%	10.36%	0.04%	1.35%	3.79%	2.76%
EBITDA Q/Q Growth	0.00%	0.00%	-5.53%	12.15%	-3.11%	21.32%	21.73%	-36.91%	2.19%	28.42%	17.35%
EBIT Q/Q Growth	0.00%	0.00%	-5.69%	11.14%	-3.74%	16.57%	18.64%	-31.66%	1.67%	24.76%	11.68%
NOPAT Q/Q Growth	0.00%	0.00%	-5.80%	11.59%	-5.64%	15.35%	9.31%	-23.17%	2.71%	21.98%	12.58%
Net Income Q/Q Growth	0.00%	0.00%	-5.51%	11.19%	-4.98%	11.90%	21.75%	-27.80%	2.95%	26.94%	7.27%
EPS Q/Q Growth	0.00%	0.00%	8.95%	-31.08%	-2.74%	13.33%	24.39%	-32.84%	5.75%	26.32%	6.90%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-1.15%	6.76%	16.26%	7.86%	434.38%	-24.60%	18.96%	19.01%	6.31%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	11.51%	-10.46%	-15.61%	15.60%	14.31%	-17.12%	11.97%	1.27%
Invested Capital Q/Q Growth	0.00%	0.00%	8.22%	6.42%	10.04%	30.57%	6.33%	-8.18%	-0.30%	2.22%	3.82%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-210.83%	-11.66%	13.03%	32.33%	47.78%	52.82%	57.49%	60.55%	54.10%	53.85%	54.99%
EBITDA Margin	-624.88%	-122.59%	-414.54%	-100.39%	-54.75%	-27.09%	-8.22%	-26.70%	-27.46%	-11.88%	-4.94%
Operating Margin	-650.72%	-128.65%	-422.52%	-107.46%	-64.31%	-34.39%	-17.05%	-30.32%	-30.36%	-14.68%	-8.97%
EBIT Margin	-650.97%	-129.78%	-421.97%	-108.15%	-60.87%	-33.79%	-11.22%	-31.24%	-31.28%	-15.00%	-7.81%
Profit (Net Income) Margin	-635.65%	-127.24%	-417.61%	-106.39%	-60.25%	-37.69%	-11.85%	-31.07%	-28.71%	-13.02%	-7.76%
Tax Burden Percent	98.01%	98.64%	99.47%	100.20%	100.04%	102.01%	102.86%	102.07%	102.17%	103.81%	102.07%
Interest Burden Percent	99.63%	99.38%	99.49%	98.17%	98.94%	109.34%	102.70%	97.42%	89.84%	83.60%	97.38%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-137.06%	-329.53%	-89.63%	-74.59%	-48.15%	-25.74%	-41.26%	-39.13%	-20.65%	-13.31%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-106.60%	-263.19%	-67.48%	-53.69%	-15.38%	-26.05%	14.10%	-7,923.93%	-82.70%	-33.68%
Return on Net Nonoperating Assets (RNNOA)	0.00%	69.30%	176.80%	42.27%	29.36%	6.98%	9.80%	-3.62%	-13.83%	-8.04%	-6.15%
Return on Equity (ROE)	0.00%	-67.76%	-152.73%	-47.36%	-45.23%	-41.17%	-15.95%	-44.88%	-52.95%	-28.69%	-19.46%
Cash Return on Invested Capital (CROIC)	0.00%	-337.06%	-385.95%	-97.98%	-75.26%	-82.36%	-71.99%	-42.68%	-48.53%	-24.36%	-19.01%
Operating Return on Assets (OROA)	0.00%	-30.47%	-135.33%	-41.62%	-31.05%	-18.75%	-7.35%	-18.47%	-18.01%	-10.11%	-5.93%
Return on Assets (ROA)	0.00%	-29.87%	-133.94%	-40.94%	-30.74%	-20.91%	-7.77%	-18.37%	-16.53%	-8.78%	-5.90%
Return on Common Equity (ROCE)	0.00%	-67.76%	-152.73%	-47.36%	-45.23%	-41.17%	-15.95%	-44.88%	-52.95%	-28.69%	-19.46%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-33.88%	-115.13%	-54.34%	-45.74%	-40.55%	-12.87%	-55.40%	-54.78%	-28.48%	0.00%
Net Operating Profit after Tax (NOPAT)	-267	-364	-2,440	-888	-772	-603	-491	-977	-979	-551	-373
NOPAT Margin	-455.50%	-90.06%	-295.76%	-75.22%	-45.02%	-24.07%	-11.94%	-21.22%	-21.25%	-10.28%	-6.28%
Net Nonoperating Expense Percent (NNEP)	0.00%	-30.46%	-66.34%	-22.15%	-20.91%	-32.77%	0.30%	-55.36%	7,884.80%	62.05%	20.37%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-15.45%	-15.88%	-9.04%	-6.40%
Cost of Revenue to Revenue	310.83%	111.66%	86.97%	67.67%	52.22%	47.18%	42.51%	39.45%	45.90%	46.15%	45.01%
SG&A Expenses to Revenue	253.31%	40.83%	186.14%	40.41%	33.86%	21.11%	17.26%	20.71%	18.61%	17.14%	16.51%
R&D to Revenue	140.18%	45.41%	186.06%	65.41%	51.50%	43.95%	38.02%	45.85%	41.49%	31.55%	30.24%
Operating Expenses to Revenue	439.89%	116.99%	435.55%	139.78%	112.09%	87.22%	74.54%	90.87%	84.46%	68.54%	63.96%
Earnings before Interest and Taxes (EBIT)	-382	-525	-3,481	-1,277	-1,044	-847	-462	-1,438	-1,441	-804	-463
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-367	-496	-3,420	-1,185	-939	-679	-338	-1,229	-1,265	-637	-293
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.88	3.09	10.12	32.02	19.98	5.59	11.55	7.37	6.08
Price to Tangible Book Value (P/TBV)	0.00	0.00	8.05	4.60	16.25	58.07	39.35	19.77	48.39	26.78	28.08
Price to Revenue (P/Rev)	0.00	0.00	21.33	6.04	13.33	29.76	18.39	3.14	6.05	3.37	2.34
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	16.38	5.67	20.83	50.25	31.60	5.97	10.72	6.74	5.03
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	18.85	4.96	12.61	29.42	18.04	3.09	6.10	3.42	2.44
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	253.58	77.14	113.90	44.33	22.05
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.39	0.72	0.59	1.45	1.55	1.49	1.55
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.39	0.72	0.59	1.45	1.55	1.47	1.53
Financial Leverage	0.00	-0.65	-0.67	-0.63	-0.55	-0.45	-0.38	-0.26	0.00	0.10	0.18
Leverage Ratio	0.00	1.13	1.14	1.16	1.47	1.97	2.05	2.44	3.20	3.27	3.30
Compound Leverage Factor	0.00	1.13	1.13	1.14	1.46	2.15	2.11	2.38	2.88	2.73	3.21
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	28.30%	41.83%	37.28%	59.19%	60.83%	59.79%	60.79%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.59%	0.81%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	28.30%	41.83%	37.28%	59.19%	60.83%	59.19%	59.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	100.00%	100.00%	71.70%	58.17%	62.72%	40.81%	39.17%	40.21%	39.21%
Debt to EBITDA	0.00	0.00	0.00	0.00	-0.95	-2.47	-6.66	-3.05	-2.96	-5.72	-12.08
Net Debt to EBITDA	0.00	0.00	0.00	0.00	1.30	1.27	4.25	0.16	-0.16	-0.42	-2.04
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-0.95	-2.47	-6.66	-3.05	-2.96	-5.67	-11.92
Debt to NOPAT	0.00	0.00	0.00	0.00	-1.15	-2.78	-4.58	-3.83	-3.83	-6.61	-9.49
Net Debt to NOPAT	0.00	0.00	0.00	0.00	1.58	1.43	2.93	0.20	-0.21	-0.49	-1.60
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-1.15	-2.78	-4.58	-3.83	-3.83	-6.55	-9.37
Altman Z-Score	0.00	0.00	20.28	7.06	5.62	15.00	11.57	0.39	1.51	0.62	0.09
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	7.53	6.84	5.73	5.29	5.00	5.70	4.32	4.39	3.95	3.56
Quick Ratio	0.00	7.34	6.71	5.58	5.21	4.92	5.59	4.21	4.25	3.80	3.35
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-896	-2,858	-971	-779	-1,032	-1,374	-1,010	-1,214	-650	-532
Operating Cash Flow to CapEx	-1,596.57%	-919.98%	-869.24%	-573.78%	-836.01%	-289.88%	419.15%	142.77%	116.43%	212.23%	299.65%
Free Cash Flow to Firm to Interest Expense	0.00	-629.08	-826.86	-249.25	-31.18	-10.62	-77.74	-47.09	-55.13	-30.16	-4.36
Operating Cash Flow to Interest Expense	0.00	-429.25	-212.58	-177.18	-12.20	-1.72	16.57	8.60	11.19	19.19	5.38
Operating Cash Flow Less CapEx to Interest Expense	0.00	-475.90	-237.03	-208.06	-13.66	-2.32	12.62	2.58	1.58	10.15	3.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.23	0.32	0.38	0.51	0.55	0.66	0.59	0.58	0.67	0.76
Accounts Receivable Turnover	0.00	2.49	3.73	3.72	4.05	4.05	4.54	4.09	3.74	4.08	4.36
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	4.02	6.17	6.22	8.88	14.23	21.59	19.40	13.51	11.92	11.12
Accounts Payable Turnover	0.00	53.65	18.02	15.65	23.04	19.91	17.75	11.82	9.18	10.94	13.59
Days Sales Outstanding (DSO)	0.00	146.78	97.81	98.09	90.12	90.02	80.37	89.31	97.52	89.41	83.71
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	6.80	20.25	23.32	15.84	18.33	20.56	30.87	39.77	33.35	26.87
Cash Conversion Cycle (CCC)	0.00	139.98	77.56	74.77	74.28	71.69	59.81	58.44	57.75	56.06	56.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	532	949	1,032	1,039	1,468	2,350	2,384	2,619	2,718	2,878
Invested Capital Turnover	0.00	1.52	1.11	1.19	1.66	2.00	2.16	1.94	1.84	2.01	2.12
Increase / (Decrease) in Invested Capital	0.00	532	418	83	6.95	429	883	34	235	99	159
Enterprise Value (EV)	0.00	0.00	15,551	5,856	21,640	73,741	74,269	14,241	28,079	18,331	14,471
Market Capitalization	0.00	0.00	17,594	7,135	22,862	74,603	75,709	14,437	27,873	18,064	13,875
Book Value per Share	$0.00	$1.88	$2.48	$1.78	$1.61	$1.56	$2.35	$1.60	$1.47	$1.46	$1.33
Tangible Book Value per Share	$0.00	$1.39	$1.82	$1.20	$1.00	$0.86	$1.20	$0.45	$0.35	$0.40	$0.29
Total Capital	0.00	1,519	2,992	2,311	3,152	4,005	6,043	6,323	6,164	6,095	5,818
Total Debt	0.00	0.00	0.00	0.00	892	1,675	2,253	3,743	3,749	3,644	3,537
Total Long-Term Debt	0.00	0.00	0.00	0.00	892	1,675	2,253	3,743	3,749	3,608	3,490
Net Debt	0.00	-987	-2,043	-1,279	-1,221	-862	-1,440	-197	205	268	596
Capital Expenditures (CapEx)	19	66	85	120	36	58	70	129	212	195	219
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	36	-23	104	32	133	309	102	298	323	404
Debt-free Net Working Capital (DFNWC)	0.00	1,023	2,021	1,383	2,144	2,671	4,002	4,041	3,842	3,699	3,345
Net Working Capital (NWC)	0.00	1,023	2,021	1,383	2,144	2,671	4,002	4,041	3,842	3,663	3,298
Net Nonoperating Expense (NNE)	106	150	1,005	368	261	341	-3.49	453	344	147	88
Net Nonoperating Obligations (NNO)	0.00	-987	-2,043	-1,279	-1,221	-862	-1,440	-197	205	268	596
Total Depreciation and Amortization (D&A)	15	29	61	92	105	168	123	209	176	167	171
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	8.87%	-2.73%	8.83%	1.84%	5.31%	7.51%	2.21%	6.46%	6.03%	6.82%
Debt-free Net Working Capital to Revenue	0.00%	252.98%	244.93%	117.18%	124.99%	106.54%	97.21%	87.81%	83.40%	69.00%	56.39%
Net Working Capital to Revenue	0.00%	252.98%	244.93%	117.18%	124.99%	106.54%	97.21%	87.81%	83.40%	68.33%	55.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.51)	($0.64)	($2.95)	($0.97)	($0.75)	($0.65)	($0.31)	($0.89)	($0.82)	($0.42)	($0.27)
Adjusted Weighted Average Basic Shares Outstanding	0.00	804.10M	1.23B	1.30B	1.38B	1.46B	1.56B	1.61B	1.61B	1.66B	1.69B
Adjusted Diluted Earnings per Share	($0.51)	($0.64)	($2.95)	($0.97)	($0.75)	($0.65)	($0.31)	($0.89)	($0.82)	($0.42)	($0.27)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	804.10M	1.23B	1.30B	1.38B	1.46B	1.56B	1.61B	1.61B	1.66B	1.69B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	804.10M	1.23B	1.32B	1.42B	1.51B	1.62B	1.58B	1.65B	1.70B	1.69B
Normalized Net Operating Profit after Tax (NOPAT)	-267	-364	-2,440	-888	-772	-603	-491	-977	-979	-551	-373
Normalized NOPAT Margin	-455.50%	-90.06%	-295.76%	-75.22%	-45.02%	-24.07%	-11.94%	-21.22%	-21.25%	-10.28%	-6.28%
Pre Tax Income Margin	-648.59%	-128.99%	-419.83%	-106.18%	-60.23%	-36.95%	-11.52%	-30.44%	-28.10%	-12.54%	-7.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-368.65	-1,007.25	-327.86	-41.78	-8.71	-26.13	-67.00	-65.42	-37.31	-3.80
NOPAT to Interest Expense	0.00	-255.81	-705.99	-228.02	-30.90	-6.21	-27.80	-45.52	-44.45	-25.57	-3.05
EBIT Less CapEx to Interest Expense	0.00	-415.30	-1,031.70	-358.74	-43.24	-9.31	-30.08	-73.03	-75.03	-46.35	-5.59
NOPAT Less CapEx to Interest Expense	0.00	-302.47	-730.45	-258.90	-32.36	-6.80	-31.76	-51.54	-54.06	-34.61	-4.85
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-3.11%	-0.28%	0.00%	0.00%	0.00%	0.00%	-70.02%	-14.32%	-44.58%	-163.06%

This table displays calculated financial ratios and metrics derived from Snap's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,688,951,990.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,688,951,990.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.32%	4.74%	20.85%	15.84%	15.48%	14.40%	14.10%	8.75%	9.78%	10.22%	12.15%
EBITDA Growth	-10.00%	11.01%	8.51%	35.09%	61.98%	110.40%	65.70%	5.80%	57.65%	258.10%	68.12%
EBIT Growth	-10.31%	7.96%	5.82%	31.82%	55.69%	93.47%	56.56%	5.19%	43.24%	331.26%	47.88%
NOPAT Growth	12.68%	13.52%	8.77%	37.19%	54.43%	90.15%	41.83%	-2.24%	25.89%	445.31%	61.59%
Net Income Growth	-2.44%	13.94%	7.18%	34.11%	58.39%	103.67%	54.25%	-5.61%	32.44%	396.75%	36.28%
EPS Growth	-4.55%	26.32%	9.52%	37.50%	60.87%	107.14%	57.89%	-6.67%	33.33%	200.00%	37.50%
Operating Cash Flow Growth	-77.15%	31.35%	-41.53%	73.91%	806.60%	40.14%	71.60%	513.97%	26.42%	16.89%	115.54%
Free Cash Flow Firm Growth	57.07%	-74.20%	-539.74%	-104.01%	48.31%	71.64%	123.01%	-28.94%	-32.04%	13.78%	-150.89%
Invested Capital Growth	1.18%	9.87%	40.24%	2.44%	1.22%	3.78%	-12.69%	4.88%	4.23%	5.86%	2.94%
Revenue Q/Q Growth	11.32%	14.53%	-12.23%	3.51%	10.98%	13.46%	-12.46%	-1.34%	12.04%	13.91%	-10.93%
EBITDA Q/Q Growth	1.06%	35.98%	-26.58%	19.05%	42.04%	117.51%	-517.61%	-122.32%	73.94%	248.03%	-137.18%
EBIT Q/Q Growth	0.57%	29.34%	-17.71%	17.56%	35.38%	89.58%	-682.79%	-79.93%	61.31%	142.43%	-276.44%
NOPAT Q/Q Growth	6.00%	34.56%	-33.98%	23.78%	31.80%	85.86%	-691.33%	-33.96%	50.57%	165.90%	-188.01%
Net Income Q/Q Growth	2.40%	32.59%	-22.90%	18.51%	38.36%	105.94%	-1,633.75%	-88.10%	60.57%	143.66%	-296.76%
EPS Q/Q Growth	4.17%	39.13%	-35.71%	21.05%	40.00%	111.11%	-900.00%	-100.00%	62.50%	150.00%	-266.67%
Operating Cash Flow Q/Q Growth	115.60%	1,187.65%	-46.31%	-124.20%	642.04%	99.04%	-34.26%	-41.63%	65.53%	84.03%	21.22%
Free Cash Flow Firm Q/Q Growth	-151.81%	-38.03%	-175.06%	78.66%	36.20%	24.26%	323.14%	-219.58%	34.67%	50.54%	-31.70%
Invested Capital Q/Q Growth	2.56%	-0.30%	18.81%	-15.68%	1.34%	2.22%	-0.04%	1.28%	0.71%	3.82%	-2.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.24%	54.34%	51.89%	52.38%	53.45%	56.87%	53.08%	51.42%	55.26%	59.08%	56.49%
EBITDA Margin	-30.09%	-16.82%	-24.26%	-18.97%	-9.91%	1.53%	-7.29%	-16.43%	-3.82%	4.97%	-2.07%
Operating Margin	-31.98%	-18.27%	-27.89%	-20.54%	-12.62%	-1.73%	-14.22%	-19.31%	-8.52%	2.90%	-4.87%
EBIT Margin	-33.72%	-20.80%	-27.90%	-22.22%	-12.94%	-1.19%	-10.62%	-19.37%	-6.69%	2.49%	-4.94%
Profit (Net Income) Margin	-30.98%	-18.24%	-25.54%	-20.10%	-11.16%	0.58%	-10.24%	-19.52%	-6.87%	2.63%	-5.82%
Tax Burden Percent	101.61%	101.34%	102.32%	102.14%	105.75%	63.80%	106.43%	103.01%	100.50%	119.10%	103.72%
Interest Burden Percent	90.44%	86.51%	89.45%	88.59%	81.61%	-77.13%	90.59%	97.85%	102.22%	88.75%	113.65%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	36.20%	0.00%	0.00%	0.00%	-19.10%	0.00%
Return on Invested Capital (ROIC)	-38.95%	-23.55%	-35.24%	-27.62%	-17.26%	-2.21%	-18.88%	-28.35%	-12.68%	7.31%	-7.54%
ROIC Less NNEP Spread (ROIC-NNEP)	81.68%	-1,724.97%	-58.35%	-50.69%	-28.23%	8.89%	-19.45%	-41.37%	-15.43%	4.07%	-14.12%
Return on Net Nonoperating Assets (RNNOA)	-2.57%	-3.01%	-7.70%	-6.81%	-3.50%	0.86%	-6.07%	-12.41%	-3.46%	0.74%	-3.59%
Return on Equity (ROE)	-41.51%	-26.56%	-42.95%	-34.42%	-20.76%	-1.35%	-24.95%	-40.75%	-16.13%	8.06%	-11.13%
Cash Return on Invested Capital (CROIC)	-39.69%	-48.53%	-69.38%	-35.24%	-27.94%	-24.36%	-2.01%	-21.78%	-19.84%	-19.01%	-13.37%
Operating Return on Assets (OROA)	-19.14%	-11.98%	-17.83%	-14.67%	-8.73%	-0.80%	-7.96%	-14.74%	-5.09%	1.89%	-3.99%
Return on Assets (ROA)	-17.59%	-10.50%	-16.32%	-13.28%	-7.53%	0.39%	-7.67%	-14.86%	-5.23%	2.00%	-4.70%
Return on Common Equity (ROCE)	-41.51%	-26.56%	-42.95%	-34.42%	-20.76%	-1.35%	-24.95%	-40.75%	-16.13%	8.06%	-11.13%
Return on Equity Simple (ROE_SIMPLE)	-54.66%	0.00%	-60.94%	-56.62%	-43.22%	0.00%	-23.03%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-266	-174	-233	-178	-121	-17	-136	-182	-90	59	-52
NOPAT Margin	-22.38%	-12.79%	-19.52%	-14.37%	-8.83%	-1.10%	-9.95%	-13.52%	-5.96%	3.45%	-3.41%
Net Nonoperating Expense Percent (NNEP)	-120.62%	1,701.42%	23.11%	23.07%	10.97%	-11.10%	0.56%	13.03%	2.75%	3.24%	6.58%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.82%	-	-	-	-0.28%	-2.29%	-3.22%	-1.56%	1.02%	-0.93%
Cost of Revenue to Revenue	46.76%	45.66%	48.11%	47.62%	46.55%	43.13%	46.92%	48.58%	44.74%	40.92%	43.51%
SG&A Expenses to Revenue	18.60%	16.83%	19.04%	18.54%	16.10%	15.50%	17.27%	18.60%	16.68%	14.12%	14.44%
R&D to Revenue	41.61%	35.52%	37.64%	32.84%	30.07%	27.16%	31.12%	32.96%	30.09%	27.54%	31.29%
Operating Expenses to Revenue	85.22%	72.61%	79.79%	72.92%	66.07%	58.60%	67.30%	70.73%	63.77%	56.18%	61.36%
Earnings before Interest and Taxes (EBIT)	-401	-283	-333	-275	-178	-18	-145	-260	-101	43	-75
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-358	-229	-290	-235	-136	24	-99	-221	-58	85	-32
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.80	11.55	8.87	13.19	8.03	7.37	6.39	7.02	5.85	6.08	3.73
Price to Tangible Book Value (P/TBV)	23.41	48.39	60.55	103.80	42.56	26.78	27.13	55.91	30.33	28.08	32.84
Price to Revenue (P/Rev)	3.18	6.05	3.93	5.47	3.44	3.37	2.67	2.58	2.26	2.34	1.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.55	10.72	6.39	10.60	6.85	6.74	5.59	5.52	4.90	5.03	3.03
Enterprise Value to Revenue (EV/Rev)	3.21	6.10	4.13	5.58	3.52	3.42	2.75	2.70	2.35	2.44	1.39
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	70.42	113.90	108.19	113.84	52.40	44.33	31.84	25.92	21.99	22.05	10.20
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.50	1.55	1.83	1.76	1.65	1.49	1.56	1.73	1.59	1.55	1.70
Long-Term Debt to Equity	1.50	1.55	1.81	1.74	1.63	1.47	1.55	1.73	1.57	1.53	1.67
Financial Leverage	-0.03	0.00	0.13	0.13	0.12	0.10	0.31	0.30	0.22	0.18	0.25
Leverage Ratio	2.97	3.20	3.20	3.30	3.26	3.27	3.32	3.58	3.42	3.30	3.43
Compound Leverage Factor	2.68	2.77	2.86	2.92	2.66	-2.52	3.01	3.51	3.49	2.93	3.90
Debt to Total Capital	60.05%	60.83%	64.61%	63.78%	62.23%	59.79%	60.99%	63.34%	61.37%	60.79%	62.91%
Short-Term Debt to Total Capital	0.00%	0.00%	0.61%	0.63%	0.62%	0.59%	0.61%	0.00%	0.81%	0.81%	0.84%
Long-Term Debt to Total Capital	60.05%	60.83%	64.01%	63.14%	61.61%	59.19%	60.37%	63.34%	60.55%	59.98%	62.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	39.95%	39.17%	35.39%	36.22%	37.77%	40.21%	39.01%	36.66%	38.63%	39.21%	37.09%
Debt to EBITDA	-2.90	-2.96	-3.14	-3.27	-4.09	-5.72	-8.10	-8.27	-9.99	-12.08	-15.71
Net Debt to EBITDA	-0.10	-0.16	-0.79	-0.50	-0.51	-0.42	-0.91	-1.58	-1.54	-2.04	-3.17
Long-Term Debt to EBITDA	-2.90	-2.96	-3.11	-3.24	-4.05	-5.67	-8.02	-8.27	-9.86	-11.92	-15.50
Debt to NOPAT	-3.73	-3.83	-4.07	-4.27	-5.15	-6.61	-7.97	-7.82	-8.30	-9.49	-12.24
Net Debt to NOPAT	-0.13	-0.21	-1.03	-0.65	-0.64	-0.49	-0.90	-1.49	-1.28	-1.60	-2.47
Long-Term Debt to NOPAT	-3.73	-3.83	-4.03	-4.23	-5.10	-6.55	-7.89	-7.82	-8.19	-9.37	-12.07
Altman Z-Score	0.63	1.99	0.89	1.76	0.78	0.95	0.48	0.22	0.16	0.31	-0.55
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.83	4.39	3.76	3.98	4.04	3.95	4.30	3.88	3.67	3.56	3.53
Quick Ratio	4.69	4.25	3.61	3.80	3.86	3.80	4.10	3.68	3.47	3.35	3.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-297	-409	-1,126	-240	-153	-116	259	-310	-202	-100	-132
Operating Cash Flow to CapEx	17.40%	306.36%	175.13%	-41.06%	263.10%	477.75%	407.40%	136.77%	276.16%	421.07%	801.48%
Free Cash Flow to Firm to Interest Expense	-53.73	-77.62	-237.45	-47.00	-26.06	-19.98	11.07	-11.22	-5.87	-2.74	-3.59
Operating Cash Flow to Interest Expense	2.32	31.20	18.63	-4.18	19.70	39.68	6.48	3.21	4.25	7.39	8.89
Operating Cash Flow Less CapEx to Interest Expense	-10.99	21.02	7.99	-14.36	12.21	31.37	4.89	0.86	2.71	5.63	7.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.58	0.64	0.66	0.67	0.67	0.75	0.76	0.76	0.76	0.81
Accounts Receivable Turnover	4.31	3.74	4.81	4.66	4.47	4.08	4.88	4.89	4.72	4.36	5.20
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	14.71	13.51	13.20	12.86	12.24	11.92	11.92	11.40	11.28	11.12	11.27
Accounts Payable Turnover	12.45	9.18	11.59	13.64	16.95	10.94	11.14	17.57	16.96	13.59	12.04
Days Sales Outstanding (DSO)	84.70	97.52	75.88	78.33	81.69	89.41	74.78	74.67	77.26	83.71	70.19
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	29.32	39.77	31.49	26.76	21.53	33.35	32.75	20.78	21.52	26.87	30.32
Cash Conversion Cycle (CCC)	55.38	57.75	44.39	51.57	60.16	56.06	42.03	53.89	55.74	56.85	39.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,627	2,619	3,112	2,624	2,659	2,718	2,717	2,752	2,772	2,878	2,797
Invested Capital Turnover	1.74	1.84	1.81	1.92	1.95	2.01	1.90	2.10	2.13	2.12	2.21
Increase / (Decrease) in Invested Capital	31	235	893	63	32	99	-395	128	113	159	80
Enterprise Value (EV)	14,593	28,079	19,881	27,815	18,206	18,331	15,181	15,205	13,573	14,471	8,482
Market Capitalization	14,459	27,873	18,901	27,258	17,756	18,064	14,775	14,523	13,029	13,875	7,769
Book Value per Share	$1.54	$1.47	$1.29	$1.26	$1.33	$1.46	$1.36	$1.24	$1.32	$1.33	$1.23
Tangible Book Value per Share	$0.38	$0.35	$0.19	$0.16	$0.25	$0.40	$0.32	$0.16	$0.25	$0.29	$0.14
Total Capital	6,241	6,164	6,023	5,705	5,851	6,095	5,924	5,645	5,765	5,818	5,620
Total Debt	3,748	3,749	3,892	3,639	3,641	3,644	3,613	3,576	3,538	3,537	3,536
Total Long-Term Debt	3,748	3,749	3,855	3,603	3,605	3,608	3,577	3,576	3,491	3,490	3,489
Net Debt	134	205	981	557	449	268	406	683	545	596	713
Capital Expenditures (CapEx)	73	54	50	52	44	48	37	65	53	64	41
Debt-free, Cash-free Net Working Capital (DFCFNWC)	251	298	200	264	296	323	342	288	309	404	290
Debt-free Net Working Capital (DFNWC)	3,865	3,842	3,111	3,345	3,489	3,699	3,549	3,181	3,303	3,345	3,112
Net Working Capital (NWC)	3,865	3,842	3,074	3,309	3,452	3,663	3,513	3,181	3,256	3,298	3,065
Net Nonoperating Expense (NNE)	102	74	72	71	32	-26	3.89	81	14	14	37
Net Nonoperating Obligations (NNO)	134	205	981	557	449	268	406	683	545	596	713
Total Depreciation and Amortization (D&A)	43	54	43	40	42	42	45	39	43	42	44
Debt-free, Cash-free Net Working Capital to Revenue	5.53%	6.46%	4.15%	5.30%	5.74%	6.03%	6.18%	5.11%	5.36%	6.82%	4.75%
Debt-free Net Working Capital to Revenue	85.04%	83.40%	64.65%	67.15%	67.54%	69.00%	64.18%	56.42%	57.22%	56.39%	51.05%
Net Working Capital to Revenue	85.04%	83.40%	63.88%	66.43%	66.84%	68.33%	63.52%	56.42%	56.40%	55.60%	50.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.23)	($0.14)	($0.19)	($0.15)	($0.09)	$0.01	($0.08)	($0.16)	($0.06)	$0.03	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	1.63B	1.61B	1.65B	1.64B	1.66B	1.66B	1.70B	1.67B	1.70B	1.69B	1.69B
Adjusted Diluted Earnings per Share	($0.23)	($0.14)	($0.19)	($0.15)	($0.09)	$0.01	($0.08)	($0.16)	($0.06)	$0.03	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	1.63B	1.61B	1.65B	1.64B	1.66B	1.66B	1.70B	1.67B	1.70B	1.69B	1.69B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.65B	1.65B	1.64B	1.66B	1.68B	1.70B	1.67B	1.69B	1.72B	1.69B	1.66B
Normalized Net Operating Profit after Tax (NOPAT)	-266	-174	-233	-178	-121	-17	-136	-182	-90	35	-52
Normalized NOPAT Margin	-22.38%	-12.79%	-19.52%	-14.37%	-8.83%	-1.10%	-9.95%	-13.52%	-5.96%	2.03%	-3.41%
Pre Tax Income Margin	-30.49%	-18.00%	-24.96%	-19.68%	-10.56%	0.92%	-9.62%	-18.95%	-6.84%	2.21%	-5.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-72.58	-53.68	-70.27	-53.74	-30.18	-3.18	-6.19	-9.44	-2.92	1.17	-2.05
NOPAT to Interest Expense	-48.19	-33.00	-49.18	-34.77	-20.61	-2.95	-5.80	-6.58	-2.60	1.62	-1.42
EBIT Less CapEx to Interest Expense	-85.88	-63.86	-80.91	-63.92	-37.67	-11.49	-7.78	-11.78	-4.46	-0.58	-3.16
NOPAT Less CapEx to Interest Expense	-61.49	-43.19	-59.82	-44.95	-28.10	-11.25	-7.39	-8.93	-4.14	-0.13	-2.53
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-36.73%	-14.32%	-32.68%	-42.77%	-52.39%	-44.58%	-62.56%	-91.63%	-100.80%	-163.06%	-205.99%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, four-year trend view of Snap Inc. (SNAP) based on quarterly statements. The focus is on revenue, profitability, cash flow, and balance sheet dynamics that may influence investors.

Revenue growth: Snap’s operating revenue rose from about $1.30B in Q4 2022 to about $1.72B in Q4 2025, reflecting a multi‑year top‑line expansion.
Net income improvement: Net income attributable to common shareholders turned positive in Q4 2025, roughly $45.2M, after periods of quarterly losses.
Operating cash flow remains positive and constructive: Net cash from continuing operating activities was about $269.6M in Q4 2025, indicating solid operating cash generation.
Debt reduction activity: Snap completed a substantial debt repayment in Q4 2025 (around $1.99B), helping reduce leverage despite a historically large debt load.
Free cash flow potential: With CFO around $269.6M and capex (PPE purchases) near $64.0M in Q4 2025, approximate free cash flow for that quarter was about $206M, signaling cash generation after investing activity.
Margins show potential profitability, but remain modest: Gross margin was about 59% in Q4 2025 (gross profit ≈ $1.01B on ≈ $1.72B revenue), and operating margin was around 3%, reflecting ongoing investments and scale effects.
Investing and growth spend: Research & Development expense was about $473M and Marketing expense about $249M in Q4 2025, underscoring continued growth investment and brand/feature development.
Cash balance stability: Cash and equivalents hovered in the low-to-mid billions historically, with the late‑2024 to 2025 period showing solid liquidity alongside positive operating cash flow.
High debt burden: Long-term debt remains substantial (in the several billions range), contributing to a meaningful liability load on Snap’s balance sheet.
Persistent accumulated deficits: Retained earnings have shown a large cumulative negative balance in recent years (approaching or exceeding $13B in prior periods), reflecting a long history of net losses despite recent improvements.

05/25/26 10:49 PM ETAI Generated. May Contain Errors.

Snap Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Snap's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Snap's net income appears to be on a downward trend, with a most recent value of -$460.49 million in 2025, rising from -$372.89 million in 2015. The previous period was -$697.86 million in 2024. See Snap's forecast for analyst expectations on what's next for the company.

Snap's total operating income in 2025 was -$532.17 million, based on the following breakdown:

Total Gross Profit: $3.26 billion
Total Operating Expenses: $3.79 billion

Over the last 10 years, Snap's total revenue changed from $58.66 million in 2015 to $5.93 billion in 2025, a change of 10,011.1%.

Snap's total liabilities were at $5.40 billion at the end of 2025, a 1.6% decrease from 2024, and a 2,546.8% increase since 2016.

In the past 9 years, Snap's cash and equivalents has ranged from $150.12 million in 2016 to $1.99 billion in 2021, and is currently $1.03 billion as of their latest financial filing in 2025.

Over the last 10 years, Snap's book value per share changed from 0.00 in 2015 to 1.33 in 2025, a change of 132.7%.

Related Companies

Financial statements for NYSE:SNAP last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Snap (SNAP) Financials

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Snap (SNAP) Financials

Annual Income Statements for Snap

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Quarterly Metrics And Ratios for Snap

Financials Breakdown Chart

Key Financial Trends

Snap Financials - Frequently Asked Questions

When does Snap's fiscal year end?

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What is Snap's operating income?

How has Snap's revenue changed over the last 10 years?

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