{"podcast":{"title":"Charged Alpha Stock Encyclopedia","slug":"charged-alpha-stock-encyclopedia-7819792","podcast_index_feed_id":7819792,"rss_url":"https://feed.podbean.com/chargedalpha/feed.xml","website_url":"https://chargedalpha.podbean.com","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/22241603/charged_alpha_logo_2048.png","author":"Colton Thomas","episode_count":1630,"summary":"Charged Alpha reviews earnings for each stock in the Russel 1000 every quarter. Each podcast gives thorough analysis, along with an in-depth profile in the beginning of the episode of the company, what they do, how they earn money and what to look for.","last_synced_at":"2026-09-04T06:17:14.359815+00:00","page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792"},"episode":{"title":"SNOW Stock: Every Forecast Went Up Except The One That’s Cash Q2 FY2027","slug":"snow-stock-every-forecast-went-up-except-the-one-that-s-cash-q2-fy2027","published_at":"2026-09-04T04:56:25+00:00","page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/snow-stock-every-forecast-went-up-except-the-one-that-s-cash-q2-fy2027","show_page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792","url":"https://chargedalpha.podbean.com/e/snow-stock-every-forecast-went-up-except-the-one-that-s-cash-q2-fy2027/","audio_url":"https://mcdn.podbean.com/mf/web/zhigd35f0dvxaego/audio_9.mp3","summary":"Snowflake, Inc. (SNOW) Q2 FY2027 — Shares rose 16.6% to $356.47, a new 12-month high, after Snowflake beat on revenue and raised its FY2027 product-revenue and operating-margin guidance for a second consecutive quarter, while leaving the adjusted free-cash-flow-margin guide unchanged at 23.0% for the third straight update. Snowflake has now guided its fiscal 2027 adjusted free cash flow margin at 23.0% three times this year without moving a single basis point, while raising its product-revenue guide twice and its operating-margin guide twice over the same three filings. The stock is up 16.6% since the print and sitting at a new 12-month high; our fair value is about $120, roughly a third of where it closed. THE CALL: AVOID (3/5, MODERATE) — base-case value ~$120 vs ~$356.47 today. KEY METRICS: - FY27 adjusted FCF margin guided 23.0% three times running - product revenue guide raised $5,660M to $5,840M to $6,070M - H1 non-GAAP operating margin 10% to 14%, but H1 adjusted FCF margin went DOWN, 12.5% to 12.2% - Deferred revenue -$778M (-23%) since January; calculated billings growth 16.1% vs revenue growth 35.1% - a 19-point gap - Owner earnings (adjusted FCF less stock comp), TTM -$479M; base-case fair value ~$120 charges stock comp in full - Ignore stock comp entirely and the same operating case gives $203 - one accounting choice is worth about $83 a share - Reverse DCF at the $356.47 close demands 28.6% a year of revenue growth to FY2036, up from 26.3% at the $305.84 pre-print close - Stock up 16.6% since the print to a new 12-month high, 5.7% clear of the prior high of $337.38 - Street: 42 buy / 9 hold / 1 sell across 52 analysts, median target $440 (+23% from the close), 21 raises and zero cuts post-print What to watch: A January deferred-revenue build over $900M, tw…","meta_description":"Snowflake, Inc. (SNOW) Q2 FY2027 — Shares rose 16.6% to $356.47, a new 12-month high, after Snowflake beat on revenue and raised its FY2027 product-revenu…","key_points":[],"chapters":[],"topics":[],"duration_seconds":971,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/charged-alpha-stock-encyclopedia-7819792/episodes/snow-stock-every-forecast-went-up-except-the-one-that-s-cash-q2-fy2027/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/snow-stock-every-forecast-went-up-except-the-one-that-s-cash-q2-fy2027.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}