Snowflake Inc (SNOW) is overvalued and Uber Technologies Inc (UBER) is undervalued.
Against our estimates of intrinsic value, UBER trades at the wider discount: a margin of safety of +70%, against -453% for SNOW.
Values as of the 22 Sept 2026 close.
A 3.6x revenue multiple, discounted for its losses, values the shares at $60.85; the price of $336.59 is 453% above that value.
Leak Score 30/100 on 6 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $236.26; the price of $69.89 is 70% below that value.
Leak Score 75/100 on 10 of 12 signals
| Metric | SNOW | UBER |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $336.59 | $69.89 |
| Intrinsic value | $60.85 | $236.26 |
| Margin of safety | -453% | +70% |
| Leak Score | 30/100 (6/12) | 75/100 (10/12) |
| Market cap | $118.7B | $142.8B |
| Revenue growth, 5 years | 51.2% | 36.1% |
| Operating margin | -22.3% | 13.3% |
| Net margin | -20.1% | 17.3% |
| Return on equity | -48.2% | 38.4% |
| Debt to equity | 1.29 | 0.54 |
| P/E | — | 15.4x |
| Forward P/E | 111.3x | 15.8x |
| P/B | 55.2x | 5.2x |