vs
Snowflake Inc.（SNOW）与VEEVA SYSTEMS INC（VEEV）财务数据对比。点击上方公司名可切换其他公司
Snowflake Inc.的季度营收约是VEEVA SYSTEMS INC的1.5倍（$1.2B vs $811.2M），VEEVA SYSTEMS INC净利率更高（29.1% vs -24.2%，领先53.4%），Snowflake Inc.同比增速更快（28.7% vs 16.0%），过去两年Snowflake Inc.的营收复合增速更高（25.1% vs 13.4%）
Snowflake Inc.是美国云数据平台服务商，创立于加利福尼亚州圣马特奥，总部位于蒙大拿州博兹曼。旗下平台支持数据分析功能，可实现数据集的低延迟并发访问，服务运行在亚马逊云科技、微软Azure、谷歌云三大公有云平台上。
Veeva Systems Inc总部位于美国加利福尼亚州普莱森顿，是一家公益类上市企业，专注为生命科学行业提供云软件、数据服务及商业咨询，旗下产品可实现数据管理、监管注册跟踪、供应链全流程监督等多项功能。
SNOW vs VEEV — 直观对比
营收规模更大
SNOW
是对方的1.5倍
$811.2M
营收增速更快
SNOW
高出12.7%
16.0%
净利率更高
VEEV
高出53.4%
-24.2%
两年增速更快
SNOW
近两年复合增速
13.4%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $811.2M |
| 净利润 | $-294.0M | $236.2M |
| 毛利率 | 67.8% | 75.4% |
| 营业利润率 | -27.2% | 29.7% |
| 净利率 | -24.2% | 29.1% |
| 营收同比 | 28.7% | 16.0% |
| 净利润同比 | 9.4% | 27.1% |
| 每股收益（稀释后） | $-0.87 | $1.40 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收SNOWVEEV
| Q4 25 | $1.2B | $811.2M | ||
| Q3 25 | $1.1B | $789.1M | ||
| Q2 25 | $1.0B | $759.0M | ||
| Q1 25 | $986.8M | $720.9M | ||
| Q4 24 | $942.1M | $699.2M | ||
| Q3 24 | $868.8M | $676.2M | ||
| Q2 24 | $828.7M | $650.3M | ||
| Q1 24 | $774.7M | $630.6M |
净利润SNOWVEEV
| Q4 25 | $-294.0M | $236.2M | ||
| Q3 25 | $-298.0M | $200.3M | ||
| Q2 25 | $-430.1M | $228.2M | ||
| Q1 25 | $-327.5M | $195.6M | ||
| Q4 24 | $-324.3M | $185.8M | ||
| Q3 24 | $-316.9M | $171.0M | ||
| Q2 24 | $-317.0M | $161.7M | ||
| Q1 24 | $-169.4M | $147.4M |
毛利率SNOWVEEV
| Q4 25 | 67.8% | 75.4% | ||
| Q3 25 | 67.5% | 75.3% | ||
| Q2 25 | 66.5% | 77.1% | ||
| Q1 25 | 66.2% | 74.9% | ||
| Q4 24 | 65.9% | 75.1% | ||
| Q3 24 | 66.8% | 74.8% | ||
| Q2 24 | 67.1% | 73.3% | ||
| Q1 24 | 68.8% | 72.4% |
营业利润率SNOWVEEV
| Q4 25 | -27.2% | 29.7% | ||
| Q3 25 | -29.7% | 24.8% | ||
| Q2 25 | -42.9% | 30.8% | ||
| Q1 25 | -39.2% | 26.1% | ||
| Q4 24 | -38.8% | 25.9% | ||
| Q3 24 | -40.9% | 24.6% | ||
| Q2 24 | -42.1% | 23.9% | ||
| Q1 24 | -35.6% | 21.4% |
净利率SNOWVEEV
| Q4 25 | -24.2% | 29.1% | ||
| Q3 25 | -26.0% | 25.4% | ||
| Q2 25 | -41.3% | 30.1% | ||
| Q1 25 | -33.2% | 27.1% | ||
| Q4 24 | -34.4% | 26.6% | ||
| Q3 24 | -36.5% | 25.3% | ||
| Q2 24 | -38.3% | 24.9% | ||
| Q1 24 | -21.9% | 23.4% |
每股收益（稀释后）SNOWVEEV
| Q4 25 | $-0.87 | $1.40 | ||
| Q3 25 | $-0.89 | $1.19 | ||
| Q2 25 | $-1.29 | $1.37 | ||
| Q1 25 | $-0.98 | $1.17 | ||
| Q4 24 | $-0.98 | $1.13 | ||
| Q3 24 | $-0.95 | $1.04 | ||
| Q2 24 | $-0.95 | $0.98 | ||
| Q1 24 | $-0.51 | $0.90 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.9B | $1.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $7.0B |
| 总资产 | $8.2B | $8.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资SNOWVEEV
| Q4 25 | $1.9B | $1.7B | ||
| Q3 25 | $1.9B | $1.9B | ||
| Q2 25 | $2.2B | $2.0B | ||
| Q1 25 | $2.6B | $1.1B | ||
| Q4 24 | $2.1B | $1.0B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.8B | $703.5M |
股东权益SNOWVEEV
| Q4 25 | $2.1B | $7.0B | ||
| Q3 25 | $2.4B | $6.6B | ||
| Q2 25 | $2.4B | $6.2B | ||
| Q1 25 | $3.0B | $5.8B | ||
| Q4 24 | $2.9B | $5.5B | ||
| Q3 24 | $4.1B | $5.2B | ||
| Q2 24 | $4.6B | $4.9B | ||
| Q1 24 | $5.2B | $4.6B |
总资产SNOWVEEV
| Q4 25 | $8.2B | $8.1B | ||
| Q3 25 | $8.2B | $8.0B | ||
| Q2 25 | $8.2B | $7.8B | ||
| Q1 25 | $9.0B | $7.3B | ||
| Q4 24 | $8.2B | $6.5B | ||
| Q3 24 | $6.9B | $6.3B | ||
| Q2 24 | $7.3B | $6.2B | ||
| Q1 24 | $8.2B | $5.9B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $137.5M | $192.8M |
| 自由现金流经营现金流 - 资本支出 | $113.6M | — |
| 自由现金流率自由现金流/营收 | 9.4% | — |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | — | 0.82× |
| 过去12个月自由现金流最近4个季度 | $776.7M | — |
8季度趋势，按日历期对齐
经营现金流SNOWVEEV
| Q4 25 | $137.5M | $192.8M | ||
| Q3 25 | $74.9M | $238.4M | ||
| Q2 25 | $228.4M | $877.2M | ||
| Q1 25 | $432.7M | $69.5M | ||
| Q4 24 | $101.7M | $164.1M | ||
| Q3 24 | $69.9M | $92.9M | ||
| Q2 24 | $355.5M | $763.5M | ||
| Q1 24 | $344.6M | $57.8M |
自由现金流SNOWVEEV
| Q4 25 | $113.6M | — | ||
| Q3 25 | $58.2M | — | ||
| Q2 25 | $183.4M | — | ||
| Q1 25 | $421.4M | — | ||
| Q4 24 | $88.3M | — | ||
| Q3 24 | $64.8M | — | ||
| Q2 24 | $338.9M | — | ||
| Q1 24 | $331.5M | — |
自由现金流率SNOWVEEV
| Q4 25 | 9.4% | — | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | 42.7% | — | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 7.5% | — | ||
| Q2 24 | 40.9% | — | ||
| Q1 24 | 42.8% | — |
资本支出强度SNOWVEEV
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 1.7% | — |
现金转化率SNOWVEEV
| Q4 25 | — | 0.82× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | 3.84× | ||
| Q1 25 | — | 0.36× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 4.72× | ||
| Q1 24 | — | 0.39× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
SNOW
| Products | $1.2B | 96% |
| Professional Services And Other | $54.5M | 4% |
| Related Party | $6.7M | 1% |
VEEV
| Subscription Services Veeva Research And Development | $364.8M | 45% |
| Subscription Services Veeva Commercial Cloud | $317.6M | 39% |
| Professional Services Veeva Research And Development | $81.3M | 10% |
| Professional Services Veeva Commercial Cloud | $47.5M | 6% |
