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Snowflake Inc.（SNOW）与Zscaler, Inc.（ZS）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Zscaler, Inc.的1.5倍（$1.2B vs $788.1M），Zscaler, Inc.净利率更高（-1.5% vs -24.2%，领先22.8%），Snowflake Inc.同比增速更快（28.7% vs 25.5%），Zscaler, Inc.自由现金流更多（$431.0M vs $113.6M），过去两年Snowflake Inc.的营收复合增速更高（25.1% vs 22.5%）
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。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
SNOW vs ZS — 直观对比
营收规模更大
SNOW
是对方的1.5倍
$788.1M
营收增速更快
SNOW
高出3.2%
25.5%
净利率更高
ZS
高出22.8%
-24.2%
自由现金流更多
ZS
多$317.4M
$113.6M
两年增速更快
SNOW
近两年复合增速
22.5%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $788.1M |
| 净利润 | $-294.0M | $-11.6M |
| 毛利率 | 67.8% | 76.6% |
| 营业利润率 | -27.2% | -4.6% |
| 净利率 | -24.2% | -1.5% |
| 营收同比 | 28.7% | 25.5% |
| 净利润同比 | 9.4% | 3.6% |
| 每股收益（稀释后） | $-0.87 | $-0.07 |
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SNOWZS
| Q4 25 | $1.2B | $788.1M | ||
| Q3 25 | $1.1B | $719.2M | ||
| Q2 25 | $1.0B | $678.0M | ||
| Q1 25 | $986.8M | $647.9M | ||
| Q4 24 | $942.1M | $628.0M | ||
| Q3 24 | $868.8M | $592.9M | ||
| Q2 24 | $828.7M | $553.2M | ||
| Q1 24 | $774.7M | $525.0M |
净利润SNOWZS
| Q4 25 | $-294.0M | $-11.6M | ||
| Q3 25 | $-298.0M | $-17.6M | ||
| Q2 25 | $-430.1M | $-4.1M | ||
| Q1 25 | $-327.5M | $-7.7M | ||
| Q4 24 | $-324.3M | $-12.1M | ||
| Q3 24 | $-316.9M | $-14.9M | ||
| Q2 24 | $-317.0M | $19.1M | ||
| Q1 24 | $-169.4M | $-28.5M |
毛利率SNOWZS
| Q4 25 | 67.8% | 76.6% | ||
| Q3 25 | 67.5% | 76.1% | ||
| Q2 25 | 66.5% | 77.0% | ||
| Q1 25 | 66.2% | 77.1% | ||
| Q4 24 | 65.9% | 77.5% | ||
| Q3 24 | 66.8% | 78.0% | ||
| Q2 24 | 67.1% | 78.6% | ||
| Q1 24 | 68.8% | 77.7% |
营业利润率SNOWZS
| Q4 25 | -27.2% | -4.6% | ||
| Q3 25 | -29.7% | -4.5% | ||
| Q2 25 | -42.9% | -3.7% | ||
| Q1 25 | -39.2% | -6.2% | ||
| Q4 24 | -38.8% | -4.9% | ||
| Q3 24 | -40.9% | -4.5% | ||
| Q2 24 | -42.1% | -0.5% | ||
| Q1 24 | -35.6% | -8.7% |
净利率SNOWZS
| Q4 25 | -24.2% | -1.5% | ||
| Q3 25 | -26.0% | -2.4% | ||
| Q2 25 | -41.3% | -0.6% | ||
| Q1 25 | -33.2% | -1.2% | ||
| Q4 24 | -34.4% | -1.9% | ||
| Q3 24 | -36.5% | -2.5% | ||
| Q2 24 | -38.3% | 3.5% | ||
| Q1 24 | -21.9% | -5.4% |
每股收益（稀释后）SNOWZS
| Q4 25 | $-0.87 | $-0.07 | ||
| Q3 25 | $-0.89 | $-0.11 | ||
| Q2 25 | $-1.29 | $-0.03 | ||
| Q1 25 | $-0.98 | $-0.05 | ||
| Q4 24 | $-0.98 | $-0.08 | ||
| Q3 24 | $-0.95 | $-0.09 | ||
| Q2 24 | $-0.95 | $0.12 | ||
| Q1 24 | $-0.51 | $-0.19 |
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 | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $2.0B |
| 总资产 | $8.2B | $6.5B |
| 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SNOWZS
| Q4 25 | $1.9B | $1.3B | ||
| Q3 25 | $1.9B | $2.4B | ||
| Q2 25 | $2.2B | $2.0B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $1.8B | $1.4B |
总债务SNOWZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
股东权益SNOWZS
| Q4 25 | $2.1B | $2.0B | ||
| Q3 25 | $2.4B | $1.8B | ||
| Q2 25 | $2.4B | $1.8B | ||
| Q1 25 | $3.0B | $1.6B | ||
| Q4 24 | $2.9B | $1.4B | ||
| Q3 24 | $4.1B | $1.3B | ||
| Q2 24 | $4.6B | $1.1B | ||
| Q1 24 | $5.2B | $958.9M |
总资产SNOWZS
| Q4 25 | $8.2B | $6.5B | ||
| Q3 25 | $8.2B | $6.4B | ||
| Q2 25 | $8.2B | $5.3B | ||
| Q1 25 | $9.0B | $5.0B | ||
| Q4 24 | $8.2B | $4.7B | ||
| Q3 24 | $6.9B | $4.7B | ||
| Q2 24 | $7.3B | $4.2B | ||
| Q1 24 | $8.2B | $3.9B |
负债/权益比SNOWZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
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 | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $113.6M | $431.0M |
| 自由现金流率自由现金流/营收 | 9.4% | 54.7% |
| 资本支出强度资本支出/营收 | 2.0% | 2.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $776.7M | $924.9M |
8季度趋势，按日历期对齐
经营现金流SNOWZS
| Q4 25 | $137.5M | $448.3M | ||
| Q3 25 | $74.9M | $250.6M | ||
| Q2 25 | $228.4M | $211.1M | ||
| Q1 25 | $432.7M | $179.4M | ||
| Q4 24 | $101.7M | $331.3M | ||
| Q3 24 | $69.9M | $203.6M | ||
| Q2 24 | $355.5M | $173.4M | ||
| Q1 24 | $344.6M | $142.1M |
自由现金流SNOWZS
| Q4 25 | $113.6M | $431.0M | ||
| Q3 25 | $58.2M | $190.6M | ||
| Q2 25 | $183.4M | $138.9M | ||
| Q1 25 | $421.4M | $164.4M | ||
| Q4 24 | $88.3M | $314.3M | ||
| Q3 24 | $64.8M | $154.2M | ||
| Q2 24 | $338.9M | $137.8M | ||
| Q1 24 | $331.5M | $111.2M |
自由现金流率SNOWZS
| Q4 25 | 9.4% | 54.7% | ||
| Q3 25 | 5.1% | 26.5% | ||
| Q2 25 | 17.6% | 20.5% | ||
| Q1 25 | 42.7% | 25.4% | ||
| Q4 24 | 9.4% | 50.1% | ||
| Q3 24 | 7.5% | 26.0% | ||
| Q2 24 | 40.9% | 24.9% | ||
| Q1 24 | 42.8% | 21.2% |
资本支出强度SNOWZS
| Q4 25 | 2.0% | 2.2% | ||
| Q3 25 | 1.5% | 8.3% | ||
| Q2 25 | 4.3% | 10.6% | ||
| Q1 25 | 1.1% | 2.3% | ||
| Q4 24 | 1.4% | 2.7% | ||
| Q3 24 | 0.6% | 8.3% | ||
| Q2 24 | 2.0% | 6.4% | ||
| Q1 24 | 1.7% | 5.9% |
现金转化率SNOWZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 9.07× | ||
| Q1 24 | — | — |
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% |
ZS
暂无分部数据
