Snap

SNAP

Internet Content & Information · Communication Services

Price

$5.24

+0.03 (+0.48%)

Market Cap

$8.84B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+10.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.56B (2021) → 1.72B (2025)

Winston Score History

The full picture

Snap Inc. makes Snapchat, a social media app where people send photos and short videos that disappear after being viewed. The app is especially popular with teenagers and young adults, and it also offers Stories, Spotlight (short viral videos), and augmented reality "lenses" that overlay digital effects on your face or surroundings. Snap competes in the social media industry alongside much larger platforms like Meta and TikTok.

Snap makes almost all of its money by selling digital advertising to businesses that want to reach its young audience. The company operates globally but earns the majority of its revenue in North America, and it generates roughly $5 billion in annual revenue. Its main competitive advantage is its strong hold on younger users, but it faces serious pressure from TikTok and Instagram, which compete for the same audience and advertising dollars — and Snap's ongoing operating losses mean it must grow ad revenue significantly to reach sustained profitability.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+18.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+39.2% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$1.8B/ year

→ Flat (+5% vs prior year)

29.9% of revenue

2.5x the sector average (12%)

Steady R&D investment year-over-year

Insider Activity

36.9%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$2.7B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Snap is a rare growth stock that's already generating positive cash flow while growing at 19%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

58.2%

Premium pricing power — 58.2% gross margin

Profit after running costs

Operating Margin

-10.7%

Losing money on operations — -10.7%

Return on the money invested

ROCE

-11.7%

Weak — -11.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+12.6%

Fast-growing sales (+12.6% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

11.1%

Modest free cash flow (11.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.44

Conservative — low debt load (0.44)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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