Projected Income Statement: Snap Inc.

Forecast Balance Sheet: Snap Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -1,440 -197 205 268 596 653 -530 -1,431
Change - 86.32% 204.06% 30.73% 122.39% 9.52% -181.16% -170%
Announcement Date 03/02/22 31/01/23 06/02/24 04/02/25 04/02/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: Snap Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 69.88 129.3 211.7 194.8 219 216.4 237 238.7
Change - 85.05% 63.74% -7.98% 12.4% -1.18% 9.51% 0.73%
Free Cash Flow (FCF) 1 223 55.31 34.79 218.7 437.2 872.3 1,180 1,392
Change - -75.2% -37.09% 528.42% 99.95% 99.52% 35.33% 17.96%
Announcement Date 03/02/22 31/01/23 06/02/24 04/02/25 04/02/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: Snap Inc.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 14.98% 8.2% 3.51% 9.49% 11.62% 18.77% 21.18% 22.5%
EBIT Margin (%) -17.05% -30.32% -30.36% -14.68% -8.97% -1.82% 2.71% 4.91%
EBT Margin (%) -11.52% -30.44% -28.1% -12.54% -7.61% -2.44% 2.84% 5.68%
Net margin (%) -11.85% -31.07% -28.71% -13.02% -7.76% -2.9% 2.48% 4.45%
FCF margin (%) 5.42% 1.2% 0.76% 4.08% 7.37% 13.03% 16.08% 17.47%
FCF / Net Income (%) -45.7% -3.87% -2.63% -31.33% -94.94% -450.17% 647.49% 392.94%

Profitability

        
ROA -7.77% -18.37% -16.53% -8.78% -5.9% -4.2% -0.72% 3.9%
ROE -15.95% -44.88% -52.95% -28.69% -19.46% -16.16% -4.05% 11.11%

Financial Health

        
Leverage (Debt/EBITDA) - - 1.27x 0.53x 0.86x 0.52x - -
Debt / Free cash flow - - 5.9x 1.22x 1.36x 0.75x - -

Capital Intensity

        
CAPEX / Current Assets (%) 1.7% 2.81% 4.6% 3.63% 3.69% 3.23% 3.23% 3%
CAPEX / EBITDA (%) 11.33% 34.25% 131.04% 38.31% 31.76% 17.22% 15.24% 13.32%
CAPEX / FCF (%) 31.33% 233.79% 608.52% 89.1% 50.09% 24.81% 20.07% 17.14%

Items per share

        
Cash flow per share 1 0.1878 0.1148 0.1529 0.2492 0.3872 0.5072 0.9004 0.982
Change - -38.87% 33.19% 62.98% 55.38% 30.98% 77.55% 9.06%
Dividend per Share 1 - - - - - - - -
Change - - - - - - - -
Book Value Per Share 1 2.431 1.64 1.467 1.45 1.333 1.279 1.796 2.451
Change - -32.56% -10.52% -1.19% -8.04% -4.03% 40.35% 36.53%
EPS 1 -0.31 -0.89 -0.82 -0.42 -0.27 -0.0998 0.0965 0.206
Change - -187.1% 7.87% 48.78% 35.71% 63.04% 196.69% 113.54%
Nbr of stocks (in thousands) 1,609,798 1,613,101 1,646,395 1,677,206 1,719,359 1,682,281 1,682,281 1,682,281
Announcement Date 03/02/22 31/01/23 06/02/24 04/02/25 04/02/26 - - -
1USD
Estimates
2026 *2027 *
P/E -47.7x 49.3x
PBR 3.72x 2.65x
EV / Sales 1.29x 1.02x
Yield - -

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
43
Last Close Price
4.760USD
Average target price
7.386USD
Spread / Average Target
+55.17%

Quarterly revenue - Rate of surprise