Snowflake Inc. (SNOW) 10-K Red Flags
Risk signals extracted deterministically from Snowflake Inc.’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (14)
- Receivables outpacing revenue: Accounts receivable grew +41.3% YoY vs revenue growth of +29.2%. The +12.1% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Deferred revenue growing — future revenue visibility: Deferred revenue grew +29.7% to $3.35B, providing forward revenue visibility. This is a positive leading indicator for subscription or contract-based businesses.
- R&D intensity declining: R&D as % of revenue fell from 49.2% to 42.0%. This may signal reduced innovation investment — potentially impacting long-term competitive position. Compare with peer R&D trends.
- NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Revenue grew +29.2% but receivables grew +41.3% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- 8 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Off-balance sheet arrangements.
- Market cap $112.76B at $325.33 per share.
- FCF DCF intrinsic value ≈ $55.60 → implied downside +82.9%.
- Composite risk: High.
- Liquidity current ratio 1.05 (adequate).
- Receivables outpacing revenue: Accounts receivable grew +41.3% YoY vs revenue growth of +29.2%. The +12.1% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Deferred revenue growing — future revenue visibility: Deferred revenue grew +29.7% to $3.35B, providing forward revenue visibility. This is a positive leading indicator for subscription or contract-based businesses.
Filings & ownership
- Latest quarterly report (10-Q) filed May 29, 2026.
- 4 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Snowflake Inc.; broad institutional reporting.
- Recent filers include Parallax Volatility Advisers, L.P., SC US (TTGP), LTD., SC US (TTGP), LTD..
- 20 recent 13G passive institutional ownership notices.
Full SNOW analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
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