SNOW vs. ESTC

Last updated Apr 1, 2026

Compare and contrast key facts about Snowflake Inc. (SNOW) and Elastic N.V. (ESTC).

Performance

SNOW vs. ESTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Snowflake Inc. (SNOW) and Elastic N.V. (ESTC). The values are adjusted to include any dividend payments, if applicable.

SNOW vs. ESTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SNOW Snowflake Inc.	-31.25%	42.06%	-22.41%	38.64%	-57.63%	20.38%	10.82%
ESTC Elastic N.V.	-33.74%	-23.86%	-12.09%	118.83%	-58.16%	-15.77%	37.73%

Fundamentals

Market Cap SNOW : $51.62B ESTC : $5.28B
EPS SNOW : -$3.96 ESTC : -$0.80
PS Ratio SNOW : 10.83 ESTC : 3.15
PB Ratio SNOW : 25.57 ESTC : 6.68
Total Revenue (TTM) SNOW : $4.68B ESTC : $1.68B
Gross Profit (TTM) SNOW : $3.15B ESTC : $1.27B
EBITDA (TTM) SNOW : -$1.27B ESTC : -$20.70M

Returns By Period

In the year-to-date period, SNOW achieves a -31.25% return, which is significantly higher than ESTC's -33.74% return.

SNOW

• 1D: -1.85%
• 1M: -10.44%
• YTD: -31.25%
• 6M: -33.13%
• 1Y: 3.19%
• 3Y*: -0.76%
• 5Y*: -8.63%
• 10Y*: —

ESTC

• 1D: 1.17%
• 1M: -3.99%
• YTD: -33.74%
• 6M: -40.83%
• 1Y: -43.89%
• 3Y*: -4.78%
• 5Y*: -15.28%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

SNOW vs. ESTC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SNOW

SNOW Risk / Return Rank: 43
SNOW Sharpe Ratio Rank: 44
SNOW Sortino Ratio Rank: 43
SNOW Omega Ratio Rank: 43
SNOW Calmar Ratio Rank: 42
SNOW Martin Ratio Rank: 41

ESTC

ESTC Risk / Return Rank: 7
ESTC Sharpe Ratio Rank: 8
ESTC Sortino Ratio Rank: 10
ESTC Omega Ratio Rank: 10
ESTC Calmar Ratio Rank: 6
ESTC Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SNOW vs. ESTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Snowflake Inc. (SNOW) and Elastic N.V. (ESTC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SNOW	ESTC	Difference
Sharpe ratio Return per unit of total volatility	0.06	-0.86	+0.92
Sortino ratio Return per unit of downside risk	0.47	-1.10	+1.57
Omega ratio Gain probability vs. loss probability	1.06	0.85	+0.21
Calmar ratio Return relative to maximum drawdown	0.00	-0.93	+0.94
Martin ratio Return relative to average drawdown	0.01	-2.17	+2.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNOW vs. ESTC - Sharpe Ratio Comparison

The current SNOW Sharpe Ratio is 0.06, which is higher than the ESTC Sharpe Ratio of -0.86. The chart below compares the historical Sharpe Ratios of SNOW and ESTC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SNOW	ESTC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.06	-0.86	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	-0.26	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	-0.08	-0.07

Correlation

The correlation between SNOW and ESTC is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SNOW vs. ESTC - Dividend Comparison

Neither SNOW nor ESTC has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

SNOW vs. ESTC - Drawdown Comparison

The maximum SNOW drawdown since its inception was -72.99%, roughly equal to the maximum ESTC drawdown of -74.33%. Use the drawdown chart below to compare losses from any high point for SNOW and ESTC.

Drawdown Indicators

	SNOW	ESTC	Difference
Max Drawdown Largest peak-to-trough decline	-72.99%	-74.33%	+1.34%
Max Drawdown (1Y) Largest decline over 1 year	-45.58%	-48.64%	+3.06%
Max Drawdown (5Y) Largest decline over 5 years	-72.99%	-74.33%	+1.34%
Current Drawdown Current decline from peak	-62.47%	-73.24%	+10.77%
Average Drawdown Average peak-to-trough decline	-48.76%	-39.15%	-9.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.43%	20.98%	-2.55%

Volatility

SNOW vs. ESTC - Volatility Comparison

Snowflake Inc. (SNOW) has a higher volatility of 14.51% compared to Elastic N.V. (ESTC) at 12.47%. This indicates that SNOW's price experiences larger fluctuations and is considered to be riskier than ESTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOW	ESTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.51%	12.47%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	35.77%	39.69%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	51.93%	51.45%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.92%	58.62%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.50%	57.90%	+2.60%

Financials

SNOW vs. ESTC - Profitability Comparison

The chart below illustrates the profitability comparison between Snowflake Inc. and Elastic N.V. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SNOW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Snowflake Inc. reported a gross profit of 857.66M and revenue of 1.28B. Therefore, the gross margin over that period was 66.8%.

ESTC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Elastic N.V. reported a gross profit of 343.44M and revenue of 449.88M. Therefore, the gross margin over that period was 76.3%.

SNOW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Snowflake Inc. reported an operating income of -318.16M and revenue of 1.28B, resulting in an operating margin of -24.8%.

ESTC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Elastic N.V. reported an operating income of 611.00K and revenue of 449.88M, resulting in an operating margin of 0.1%.

SNOW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Snowflake Inc. reported a net income of -309.55M and revenue of 1.28B, resulting in a net margin of -24.1%.

ESTC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Elastic N.V. reported a net income of 7.75M and revenue of 449.88M, resulting in a net margin of 1.7%.