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US social media company operating Snapchat, a messaging and content app popular with younger users, and AR camera technology.
US social media company operating Snapchat, a messaging and content app popular with younger users, and AR camera technology.
Sells advertising shown between friends' messages and in video content, and the revenue per user in North America is far higher than elsewhere, so growth depends on both user numbers and ad pricing. The Class A shares carry no votes; co-founders Evan Spiegel and Bobby Murphy control the company through Class C shares. Snapchat+ is a small subscription line.
Moat: narrow (network effects, brand). Strong engagement among younger users gives an advertising niche, but faces intense competition for attention/ad dollars.
Headquarters: Santa Monica, California, US · Founded: 2011 · Employees: 5,261
Size Snap (SNAP) is a United States Information Technology company (Packaged Software) with a market value of $8.39B, the 863rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $4.96 on 6 Nov 2026.
Performance Over six months the shares fell 18.4%, against +15.1% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 12.7% over the last twelve months (peer median +21.1%); the operating margin is -5.1% (peer median 6.7%).
Valuation It trades at 32.3× forward earnings against a peer median of 42.2× (8th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 16.9 points below its cost of capital (9.2% WACC).
Backlog Backlog (remaining performance obligations) was $388M at 31 Dec 2025 — 0.1 years of trailing revenue. Backlog detail →
Credit Snap has 4 bonds outstanding ($2.87B), rated BB- by the agencies and trading like B at a weighted spread of 315 bp.
Short interest Short interest is 5.8% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.35B | $5.93B | $5.36B | $4.61B | $4.60B |
| Revenue growth | — | +11% | +16% | 0% | — |
| Gross profit | $3.47B | $3.10B | $2.74B | $2.34B | $2.61B |
| EBITDA | -$146M | -$369M | -$629M | -$1.23B | -$1.19B |
| Net income | -$311M | -$460M | -$698M | -$1.32B | -$1.43B |
| Free cash flow | $727M | $437M | $219M | $34.8M | $55.3M |
| Capital expenditure | $214M | $219M | $195M | $212M | $129M |
| Total debt | $4.23B | $4.14B | $4.24B | $4.34B | $4.18B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Snap SNAP | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% |
| Meta Platforms META | $1.56T | 0% | +28% | 33% | 19.0× | 16.6% |
| Pinterest PINS | $10.9B | -11% | +15% | 6% | 8.8× | 16.2% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% |
| Reddit RDDT | $18.4B | -39% | +62% | 29% | 15.0× | 18.0% |
| Roblox RBLX | $35.3B | +18% | +32% | -20% | n/a | 15.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SNAP | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.4% | -1.5% | 2nd lowest of 21 |
| 6-month return | -18.4% | +15.1% | 5th lowest of 21 |
| Distance from 52-week high | -45.7% | -23.4% | 5th lowest of 21 |
| Revenue growth (TTM) | +12.7% | +21.1% | 6th lowest of 21 |
| Operating margin | -5.1% | 6.7% | 7th lowest of 21 |
| Forward P/E | 32.3× | 42.2× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 2.7% | 18.8% | 4th least demanding of 18 |
| Growth delivered (Del g) | +18.8% | +23.1% | 8th lowest of 18 |
| Hurdle (Req g minus delivered) | -16.1 pp | -7.2 pp | 3rd least demanding of 18 |
| ROIC minus cost of capital | -16.9 pp | -6.8 pp | 3rd lowest of 17 |
| Bond spread | 315 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Snap SNAP | United States | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% | +18.8% |
| Nemetschek NEM.DE | Germany | $8.39B | +10% | +13% | 26% | 29.9× | 11.1% | +14.8% |
| Xero XRO.AX | Australia | $8.36B | -13% | +27% | 13% | 66.7× | 25.9% | +25.3% |
| CSG Digital Power Grid Research Institute 301638.SZ | China | $8.52B | -37% | +18% | 10% | n/a | 18.0% | +8.2% |
| DigitalOcean DOCN | United States | $8.55B | -56% | +28% | 12% | 44.7× | 41.6% | +23.1% |
| 360 Security Technology 601360.SS | China | $8.63B | -26% | +7% | -4% | 172.6× | 55.2% | -5.7% |
| Descartes Systems DSG.TO | Canada | $8.10B | +32% | +12% | 33% | 37.9× | 4.4% | +16.8% |
| Netskope NTSK | United States | $8.70B | +83% | +30% | -94% | n/a | n/a | n/a |
| Gitlab GTLB | United States | $8.01B | +85% | +23% | -8% | 55.0× | 18.8% | +44.4% |
| ServiceTitan TTAN | United States | $7.89B | +36% | +23% | -13% | 55.6× | 20.7% | +27.1% |
| Sangfor Technologies 300454.SZ | China | $7.84B | +5% | +21% | 2% | 71.4× | 46.1% | +6.9% |
| Zeta Global ZETA | United States | $7.79B | +81% | +36% | 3% | 28.2× | 49.7% | +28.8% |
| Paylocity PCTY | United States | $9.03B | +56% | +11% | 22% | 19.0× | 2.3% | +22.8% |
| Oracle Corporation Japan 4716.T | Japan | $7.73B | +10% | +10% | 32% | 17.0× | -6.9% | +6.5% |
| Elastic ESTC | United States | $9.12B | +65% | +16% | -1% | 24.4× | 13.0% | +23.4% |
| Empyrean Technology 301269.SZ | China | $7.70B | +5% | +15% | -10% | 357.4× | n/a | n/a |
| Horizon Robotics 9660.HK | Hong Kong | $7.61B | -48% | +46% | -101% | 159.5× | n/a | n/a |
| SentinelOne S | United States | $7.58B | +31% | +21% | -26% | 54.7× | 53.7% | +60.8% |
| Clear Secure YOU | United States | $7.55B | -2% | +23% | 26% | 24.2× | 15.8% | +31.3% |
| Dropbox DBX | United States | $7.54B | +20% | 0% | 26% | 11.1× | -5.0% | +5.7% |
| Hinge Health HNGE | United States | $9.34B | +107% | +50% | 19% | 39.6× | 34.1% | +49.9% |
Snap has 4 bonds outstanding with $2.87B face value. The agencies rate it BB-; its bonds trade like B. Weighted yield 7.89%, a spread of 315 bp over government bonds.
Snap reported $388M of remaining performance obligations at 31 Dec 2025. That is 0.1 years of trailing revenue already under contract.