[{"data":1,"prerenderedAt":338},["ShallowReactive",2],{"triple-beat-SNOW":3,"og-beat-monitoring-SNOW":337},{"ticker":4,"name":5,"description":6,"epsLabel":7,"guidanceLabel":8,"stockLabel":9,"quarters":10,"tableNotes":180,"highlightQuarter":161,"highlightDescription":189,"sources":190,"latestStock":215,"kpiTrends":217},"SNOW","Snowflake","Snowflake（SNOW）はクラウド上のデータ基盤を提供する企業。売上の大半は「プロダクト売上」で、顧客がデータに対して実行した処理量に応じてクレジットを消費する従量課金である（顧客の請求額の約8割が計算資源。ストレージは容量課金だが単価が安く寄与は小さい）。したがって業績を動かすのは保存データ量そのものではなく、そのデータに対して処理が走る量になる。生成AIはここに2経路で効く。AIエージェントや検索がデータへ問い合わせることによるクエリ量の増加と、Cortex系の機能でモデル推論そのものをプラットフォーム内で実行することによるクレジット消費である。会計年度は1月末締め。FY27Q2（2026年9月発表）でプロダクト売上が+37%と3四半期連続で加速し、通年ガイドと営業利益率見通しを同時に引き上げた。半導体・ハードウェア側から始まったAIの業績寄与が、AIを「使う側」のソフトウェアへ移ってくる過程を観測するために追加した銘柄。","EPS ($, 非GAAP)","次Qプロダクト売上ガイド (midpoint, $M)","株価反応 ($)",[11,34,56,77,98,119,139,160],{"quarter":12,"reportDate":13,"event":14,"revenue":15,"eps":20,"guidance":24,"stock":30},"FY25Q3","2024/11/20","プロダクト売上+29%、次Qガイドもコンセンサス超えの完全ビート。IPO以来最大の上昇率+32.7%",{"actual":16,"consensus":17,"beatPct":18,"yoyPct":19},"$942.1 M","$897.0 M",5,28,{"actual":21,"consensus":22,"beatPct":23},"$0.20","$0.15",33.3,{"revenue":25,"eps":29},{"company":26,"consensus":27,"beatPct":28},"$908.5 M","$884.5 M",2.7,null,{"reportClose":31,"nextClose":32,"changePct":33},"$129.12","$171.35",32.7,{"quarter":35,"reportDate":36,"event":37,"revenue":38,"eps":43,"guidance":47,"stock":52},"FY25Q4","2025/2/26","EPSを7割上回る大幅ビートだが次Qガイドが予想を小幅下回り、寄り前+13%から終値+4.5%へ失速",{"actual":39,"consensus":40,"beatPct":41,"yoyPct":42},"$986.8 M","$956.5 M",3.2,27,{"actual":44,"consensus":45,"beatPct":46},"$0.30","$0.17〜0.18",71.4,{"revenue":48,"eps":29},{"company":49,"consensus":50,"beatPct":51},"$957.5 M","$962.6 M",-0.5,{"reportClose":53,"nextClose":54,"changePct":55},"$166.19","$173.69",4.5,{"quarter":57,"reportDate":58,"event":59,"revenue":60,"eps":64,"guidance":68,"stock":73},"FY26Q1","2025/5/21","四半期売上が初の$1B超え。通年プロダクト売上ガイドを$4.28B→$4.325Bへ引き上げ",{"actual":61,"consensus":62,"beatPct":41,"yoyPct":63},"$1,042.1 M","$1,010.0 M",26,{"actual":65,"consensus":66,"beatPct":67},"$0.24","$0.21",14.3,{"revenue":69,"eps":29},{"company":70,"consensus":71,"beatPct":72},"$1,037.5 M","$1,021.0 M",1.6,{"reportClose":74,"nextClose":75,"changePct":76},"$179.12","$203.18",13.4,{"quarter":78,"reportDate":79,"event":80,"revenue":81,"eps":85,"guidance":89,"stock":94},"FY26Q2","2025/8/27","プロダクト売上が+26%→+32%へ再加速、通年ガイド引き上げで+20.3%",{"actual":82,"consensus":83,"beatPct":18,"yoyPct":84},"$1,145.0 M","$1,090.0 M",32,{"actual":86,"consensus":87,"beatPct":88},"$0.35","$0.27",29.6,{"revenue":90,"eps":29},{"company":91,"consensus":92,"beatPct":93},"$1,127.5 M","$1,119.5 M",0.7,{"reportClose":95,"nextClose":96,"changePct":97},"$200.39","$241.00",20.3,{"quarter":99,"reportDate":100,"event":101,"revenue":102,"eps":107,"guidance":110,"stock":115},"FY26Q3","2025/12/3","実績はビートも次Qガイドが+27%への減速かつ営業利益率ガイド7%で失望、8四半期で唯一の下落",{"actual":103,"consensus":104,"beatPct":105,"yoyPct":106},"$1,212.9 M","$1,180.0 M",2.8,29,{"actual":86,"consensus":108,"beatPct":109},"$0.31",12.9,{"revenue":111,"eps":29},{"company":112,"consensus":113,"beatPct":114},"$1,197.5 M","$1,185.0 M",1.1,{"reportClose":116,"nextClose":117,"changePct":118},"$265.00","$234.77",-11.4,{"quarter":120,"reportDate":121,"event":122,"revenue":123,"eps":128,"guidance":131,"stock":135},"FY26Q4","2026/2/25","RPOが$9.77B・+42%と急伸する好決算だが、次Qガイドの減速感で反応は+2.3%にとどまる",{"actual":124,"consensus":125,"beatPct":126,"yoyPct":127},"$1,284.0 M","$1,254.0 M",2.4,30,{"actual":129,"consensus":87,"beatPct":130},"$0.32",18.5,{"revenue":132,"eps":29},{"company":133,"consensus":134,"beatPct":105},"$1,264.5 M","$1,230.0 M",{"reportClose":136,"nextClose":137,"changePct":138},"$169.21","$173.06",2.3,{"quarter":140,"reportDate":141,"event":142,"revenue":143,"eps":148,"guidance":151,"stock":156},"FY27Q1","2026/5/27","プロダクト売上+34%で社史上最大の四半期増加額。AWSと5年$6B契約、通年ガイド引き上げで+36.5%",{"actual":144,"consensus":145,"beatPct":146,"yoyPct":147},"$1,391.0 M","$1,320.0 M",5.4,33,{"actual":149,"consensus":129,"beatPct":150},"$0.39",21.9,{"revenue":152,"eps":29},{"company":153,"consensus":154,"beatPct":155},"$1,417.5 M","$1,370.0 M",3.5,{"reportClose":157,"nextClose":158,"changePct":159},"$175.26","$239.20",36.5,{"quarter":161,"reportDate":162,"event":163,"revenue":164,"eps":168,"guidance":172,"stock":177},"FY27Q2","2026/9/2","プロダクト売上+37%で3四半期連続の加速。通年ガイドを$5.84B→$6.07Bへ引き上げ、営業利益率見通しも13.5%→14.5%",{"actual":165,"consensus":166,"beatPct":55,"yoyPct":167},"$1,546.8 M","$1,480.0 M",35,{"actual":169,"consensus":170,"beatPct":171},"$0.62","$0.45",37.8,{"revenue":173,"eps":29},{"company":174,"consensus":175,"beatPct":176},"$1,590.5 M","$1,505.0 M",5.7,{"reportClose":178,"nextClose":179,"changePct":29},"$305.84","n/a",[181,182,183,184,185,186,187,188],"実績値は全件 SEC EDGAR の 8-K Exhibit 99.1（CIK 1640147）から転記。当時のコンセンサスは x-search(Grok) で各決算日前後の投稿を収集し、LSEG / FactSet / Zacks 等の報道値と突き合わせて採用した。","Snowflake は EPS の会社ガイダンスを開示しない（示すのはプロダクト売上・粗利率・営業利益率・FCF率・希薄化後株数）。このため guidance.eps は全期間 null。ガイドの列はプロダクト売上のレンジ中央値。","売上の行は総売上。市場が主に見ているのはプロダクト売上（総売上の約96%）で、こちらは KPI チャートに別建てで載せている。","FY27Q2 の翌日終値は未確定（2026/9/3 の米国市場が未開場）。時間外は $374.25・+22.4% だったが終値ではないため採用していない。確定後に上書きする。","FY25Q4 の EPS コンセンサスは $0.17〜0.18 と割れており、ビート率は中央値 $0.175 に対する値。FY27Q2 の次Qコンセンサスも $1.50B〜$1.57B と割れており、2ソースが近接した $1.505B を採った。","FY26Q4 から非GAAP EPS の算定方法が変わっている（過半数所有子会社の支配喪失により非支配持分への配分を停止）。会社は従来ベースと整合すると説明しているが、FY26Q3→Q4 の EPS 差分を精密に見るときは注意する。","株式分割は2020年9月のIPO以来なし。EPS・株価は全期間そのまま比較できる。","8四半期すべて引け後（AMC）発表。発表日終値は発表当日のRTH終値、翌日終値はその翌営業日のRTH終値。","FY27Q2（2026年9月2日発表）は、AIによる消費の増加が損益計算書に現れた四半期。プロダクト売上 $1,491.9M は会社自身のガイド（$1,415〜1,420M）を中央値比で+5.1%上回り、成長率は+37%と3四半期続けて加速した。同時に非GAAP営業利益率が会社ガイド12.5%に対して15.3%で着地し、通年ガイドもプロダクト売上$5.84B→$6.07B、営業利益率13.5%→14.5%へ引き上げられている。当日の引けは-4.4%と売られて終わっていたため、時間外は+22%まで振れた。EPSの上振れ（+37.8%）よりも、成長の加速と利益率の改善が同時に起きたことが評価された四半期である。",[191,194,197,200,203,206,209,212],{"label":192,"url":193},"Snowflake FY2027 Q2 8-K Ex-99.1 (SEC)","https://www.sec.gov/Archives/edgar/data/1640147/000164014726000033/fy2027q2earnings.htm",{"label":195,"url":196},"Snowflake FY2027 Q1 8-K Ex-99.1 (SEC)","https://www.sec.gov/Archives/edgar/data/0001640147/000164014726000027/fy2027q1earnings.htm",{"label":198,"url":199},"Snowflake FY2026 Q4 決算リリース (IR)","https://www.snowflake.com/en/news/press-releases/snowflake-reports-financial-results-for-the-fourth-quarter-and-full-year-of-fiscal-2026/",{"label":201,"url":202},"Snowflake FY2026 Q3 決算リリース (IR)","https://www.snowflake.com/en/news/press-releases/snowflake-reports-financial-results-for-the-third-quarter-of-fiscal-2026/",{"label":204,"url":205},"Snowflake FY2026 Q2 決算リリース (IR)","https://www.snowflake.com/en/news/press-releases/snowflake-reports-financial-results-for-the-second-quarter-of-fiscal-2026/",{"label":207,"url":208},"Snowflake FY2026 Q1 決算リリース (IR)","https://www.snowflake.com/en/news/press-releases/snowflake-reports-financial-results-for-the-first-quarter-of-fiscal-2026/",{"label":210,"url":211},"Snowflake FY2025 Q4 決算リリース (IR)","https://www.snowflake.com/en/news/press-releases/snowflake-reports-financial-results-for-the-fourth-quarter-and-full-year-of-fiscal-2025/",{"label":213,"url":214},"Snowflake FY2025 Q3 決算リリース (IR)","https://www.snowflake.com/en/news/press-releases/snowflake-reports-financial-results-for-the-third-quarter-of-fiscal-2025/",{"date":216,"close":178},"2026-09-02",[218,247,266,299],{"key":219,"title":220,"unit":221,"kind":222,"description":223,"points":224,"source":246},"productRevenueGrowth","プロダクト売上 成長率（前年同期比）","%","line","FY26Q3 の29%を底に、30% → 34% → 37% と3四半期続けて加速した。$6B規模で減速せずに上向くのは珍しい。",[225,229,232,234,236,238,240,241,242,243],{"quarter":226,"value":227,"label":228},"FY25Q1",34,"34%",{"quarter":230,"value":127,"label":231},"FY25Q2","30%",{"quarter":12,"value":106,"label":233},"29%",{"quarter":35,"value":19,"label":235},"28%",{"quarter":57,"value":63,"label":237},"26%",{"quarter":78,"value":84,"label":239},"32%",{"quarter":99,"value":106,"label":233},{"quarter":120,"value":127,"label":231},{"quarter":140,"value":227,"label":228},{"quarter":161,"value":244,"label":245},37,"37%",{"label":192,"url":193},{"key":248,"title":249,"unit":250,"kind":222,"description":251,"points":252,"source":265},"fullYearGuidanceFy27","FY27 通年プロダクト売上ガイダンスの推移（$B）","$B","横軸は「どの決算で示したか」。FY25・FY26 は四半期あたり $50〜70M の小刻みな引き上げだったが、FY27 は +$180M → +$230M と引き上げ幅そのものが拡大している。縦軸は幅を見せるため0起点にしていない。",[253,257,261],{"quarter":120,"value":254,"label":255,"note":256},5.66,"$5.66B","FY27 の初回提示。含意成長率 +27%、非GAAP営業利益率ガイドは12.5%",{"quarter":140,"value":258,"label":259,"note":260},5.84,"$5.84B","+$180M の引き上げ。含意成長率 +31%、営業利益率ガイド 13.5%",{"quarter":161,"value":262,"label":263,"note":264},6.07,"$6.07B","+$230M の引き上げ。含意成長率 +36%、営業利益率ガイド 14.5%",{"label":192,"url":193},{"key":267,"title":268,"unit":221,"kind":222,"description":269,"points":270,"source":298},"nonGaapOpMargin","非GAAP営業利益率（四半期実績）","非GAAP営業利益 ÷ 総売上で算出（プレスリリースは整数%に丸めている）。成長が加速した期に利益率も同時に上がっているかを見る図。FY27Q2 は会社ガイド12.5%に対し15.3%で着地した。",[271,274,276,279,282,285,288,291,292,295],{"quarter":226,"value":272,"label":273},4.4,"4.4%",{"quarter":230,"value":18,"label":275},"5.0%",{"quarter":12,"value":277,"label":278},6.3,"6.3%",{"quarter":35,"value":280,"label":281},9.4,"9.4%",{"quarter":57,"value":283,"label":284},8.8,"8.8%",{"quarter":78,"value":286,"label":287},11.1,"11.1%",{"quarter":99,"value":289,"label":290},10.8,"10.8%",{"quarter":120,"value":289,"label":290},{"quarter":140,"value":293,"label":294},11.9,"11.9%",{"quarter":161,"value":296,"label":297},15.3,"15.3%",{"label":192,"url":193},{"key":300,"title":301,"unit":302,"kind":303,"description":304,"points":305,"source":336},"millionDollarCustomers","年間プロダクト売上100万ドル超の顧客数（社）","社","bar","10四半期で485社から828社へ。NRR は同じ期間に128% → 126% とわずかに低下しており、伸びの主役は既存顧客の単価より顧客数の拡大にある。",[306,309,312,315,318,321,324,327,330,333],{"quarter":226,"value":307,"label":308},485,"485社",{"quarter":230,"value":310,"label":311},510,"510社",{"quarter":12,"value":313,"label":314},542,"542社",{"quarter":35,"value":316,"label":317},580,"580社",{"quarter":57,"value":319,"label":320},606,"606社",{"quarter":78,"value":322,"label":323},654,"654社",{"quarter":99,"value":325,"label":326},688,"688社",{"quarter":120,"value":328,"label":329},733,"733社",{"quarter":140,"value":331,"label":332},779,"779社",{"quarter":161,"value":334,"label":335},828,"828社",{"label":192,"url":193},"https://log.eurekapu.com/og/pages/general/beat-monitoring-SNOW.png?title=SNOW%20Snowflake%20-%20%E3%83%93%E3%83%BC%E3%83%88%E3%83%A2%E3%83%8B%E3%82%BF%E3%83%AA%E3%83%B3%E3%82%B0&sig=2ef9f895af60eaa6",1788417375452]