Comprehensive Stock Comparison
Compare Calix, Inc. (CALX) vs Snowflake Inc. (SNOW) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | SNOW | 29.2% revenue growth vs CALX's 20.3% |
| Value | CALX | Lower P/E (29.1x vs 95.0x) |
| Quality / Margins | CALX | 1.8% net margin vs SNOW's -28.4% |
| Stability / Safety | CALX | Beta 1.18 vs SNOW's 1.49, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | CALX | +39.8% vs SNOW's -4.9% |
| Efficiency (ROA) | CALX | 1.7% ROA vs SNOW's -14.6%, ROIC 2.1% vs -43.1% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Calix provides cloud and software platforms that enable broadband service providers to deliver and manage internet services to residential and business customers. The company generates revenue primarily through subscription fees for its Calix Cloud platform — which includes marketing, support, and operations modules — and sales of its networking hardware systems like GigaSpire. Its competitive advantage lies in its integrated software-hardware ecosystem that creates switching costs for service providers who become dependent on Calix's unified platform for managing their entire broadband operations.
Snowflake provides a cloud-native data platform that enables organizations to store, process, and analyze data across multiple cloud providers. It generates revenue primarily through consumption-based pricing for compute, storage, and data transfer services — with compute typically representing the largest portion. Its key advantage is a unique architecture that separates storage and compute, allowing customers to scale each independently while avoiding vendor lock-in through multi-cloud compatibility.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CALX leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics.
Financial Metrics (TTM)
SNOW is the larger business by revenue, generating $4.7B annually — 4.7x CALX's $1.0B. CALX is the more profitable business, keeping 1.8% of every revenue dollar as net income compared to SNOW's -28.4%.
| Metric | CALXCalix, Inc. | SNOWSnowflake Inc. |
|---|---|---|
| RevenueTrailing 12 months | $1.0B | $4.7B |
| EBITDAEarnings before interest/tax | $38M | -$1.3B |
| Net IncomeAfter-tax profit | $18M | -$1.3B |
| Free Cash FlowCash after capex | $116M | $1.1B |
| Gross MarginGross profit ÷ Revenue | +56.8% | +67.2% |
| Operating MarginEBIT ÷ Revenue | +2.1% | -30.6% |
| Net MarginNet income ÷ Revenue | +1.8% | -28.4% |
| FCF MarginFCF ÷ Revenue | +11.6% | +23.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +32.2% | +30.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +137.0% | +9.1% |
Valuation Metrics
| Metric | CALXCalix, Inc. | SNOWSnowflake Inc. |
|---|---|---|
| Market CapShares × price | $3.4B | $57.7B |
| Enterprise ValueMkt cap + debt − cash | $3.3B | $57.6B |
| Trailing P/EPrice ÷ TTM EPS | 199.12x | -42.64x |
| Forward P/EPrice ÷ next-FY EPS est. | 29.10x | 95.01x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 85.62x | — |
| Price / SalesMarket cap ÷ Revenue | 3.43x | 12.31x |
| Price / BookPrice ÷ Book value/share | 4.24x | 28.15x |
| Price / FCFMarket cap ÷ FCF | 29.70x | 51.48x |
Profitability & Efficiency
CALX delivers a 2.1% return on equity — every $100 of shareholder capital generates $2 in annual profit, vs $-66 for SNOW. CALX carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to SNOW's 1.36x. On the Piotroski fundamental quality scale (0–9), CALX scores 6/9 vs SNOW's 5/9, reflecting solid financial health.
| Metric | CALXCalix, Inc. | SNOWSnowflake Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +2.1% | -65.9% |
| ROA (TTM)Return on assets | +1.7% | -14.6% |
| ROICReturn on invested capital | +2.1% | -43.1% |
| ROCEReturn on capital employed | +2.5% | -27.5% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | 0.03x | 1.36x |
| Net DebtTotal debt minus cash | -$118M | -$87M |
| Cash & Equiv.Liquid assets | $143M | $2.8B |
| Total DebtShort + long-term debt | $26M | $2.7B |
| Interest CoverageEBIT ÷ Interest expense | — | -115.44x |
Total Returns (with DRIP)
A $10,000 investment in CALX five years ago would be worth $11,998 today (with dividends reinvested), compared to $6,188 for SNOW. Over the past 12 months, CALX leads with a +39.8% total return vs SNOW's -4.9%. The 3-year compound annual growth rate (CAGR) favors SNOW at 2.9% vs CALX's 0.4% — a key indicator of consistent wealth creation.
| Metric | CALXCalix, Inc. | SNOWSnowflake Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -3.4% | -22.3% |
| 1-Year ReturnPast 12 months | +39.8% | -4.9% |
| 3-Year ReturnCumulative with dividends | +1.2% | +9.1% |
| 5-Year ReturnCumulative with dividends | +20.0% | -38.1% |
| 10-Year ReturnCumulative with dividends | +644.9% | -33.7% |
| CAGR (3Y)Annualised 3-year return | +0.4% | +2.9% |
Risk & Volatility
CALX is the less volatile stock with a 1.18 beta — it tends to amplify market swings less than SNOW's 1.49 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CALX currently trades 72.7% from its 52-week high vs SNOW's 60.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CALXCalix, Inc. | SNOWSnowflake Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.18x | 1.49x |
| 52-Week HighHighest price in past year | $71.22 | $280.67 |
| 52-Week LowLowest price in past year | $28.61 | $120.10 |
| % of 52W HighCurrent price vs 52-week peak | +72.7% | +60.0% |
| RSI (14)Momentum oscillator 0–100 | 45.6 | 43.8 |
| Avg Volume (50D)Average daily shares traded | 951K | 4.4M |
Analyst Outlook
Wall Street rates CALX as "Buy" and SNOW as "Buy". Consensus price targets imply 49.4% upside for SNOW (target: $252) vs 45.8% for CALX (target: $76).
| Metric | CALXCalix, Inc. | SNOWSnowflake Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $75.50 | $251.60 |
| # AnalystsCovering analysts | 21 | 49 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +2.7% | +0.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Oct 20 | Feb 26 | Change |
|---|---|---|---|
| Calix, Inc. (CALX) | 100 | 260.29 | +160.3% |
| Snowflake Inc. (SNOW) | 95.88 | 75.09 | -21.7% |
Calix, Inc. (CALX) returned +20% over 5 years vs Snowflake Inc. (SNOW)'s -38%. A $10,000 investment in CALX 5 years ago would be worth $11,998 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Calix, Inc. (CALX) | $510M | $1.0B | +95.9% |
| Snowflake Inc. (SNOW) | $97M | $4.7B | +4745.5% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Calix, Inc. (CALX) | -16.3% | 1.8% | +111.0% |
| Snowflake Inc. (SNOW) | -184.2% | -28.4% | +84.6% |
Chart 4P/E Ratio History — 5 Years
| Stock | 2020 | 2025 | Change |
|---|---|---|---|
| Calix, Inc. (CALX) | 55.1 | 203.6 | +269.5% |
Calix, Inc. has traded in a 23x–204x P/E range over 5 years; current trailing P/E is ~199x.
Chart 5EPS Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Calix, Inc. (CALX) | -1.66 | 0.26 | +115.7% |
| Snowflake Inc. (SNOW) | -0.75 | -3.95 | -426.7% |
Chart 6Free Cash Flow — 5 Years
Calix, Inc. generated $116M FCF in 2025 (+149% vs 2021). Snowflake Inc. generated $1B FCF in 2026 (+1407% vs 2021).
CALX vs SNOW: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is CALX or SNOW a better buy right now?
Calix, Inc. (CALX) offers the better valuation at 199.1x trailing P/E (29.1x forward), making it the more compelling value choice. Analysts rate Calix, Inc. (CALX) a "Buy" — based on 21 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CALX or SNOW?
On forward P/E, Calix, Inc. is actually cheaper at 29.1x.
03Which is the better long-term investment — CALX or SNOW?
Over the past 5 years, Calix, Inc. (CALX) delivered a total return of +20.0%, compared to -38.1% for Snowflake Inc. (SNOW). A $10,000 investment in CALX five years ago would be worth approximately $12K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CALX returned +644.9% versus SNOW's -33.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CALX or SNOW?
By beta (market sensitivity over 5 years), Calix, Inc. (CALX) is the lower-risk stock at 1.18β versus Snowflake Inc.'s 1.49β — meaning SNOW is approximately 26% more volatile than CALX relative to the S&P 500. On balance sheet safety, Calix, Inc. (CALX) carries a lower debt/equity ratio of 3% versus 136% for Snowflake Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — CALX or SNOW?
Calix, Inc. (CALX) is the more profitable company, earning 1.8% net margin versus -28.4% for Snowflake Inc. — meaning it keeps 1.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CALX leads at 2.1% versus -30.6% for SNOW. At the gross margin level — before operating expenses — SNOW leads at 67.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CALX or SNOW more undervalued right now?
On forward earnings alone, Calix, Inc. (CALX) trades at 29.1x forward P/E versus 95.0x for Snowflake Inc. — 65.9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for SNOW: 49.4% to $251.60.
07Which pays a better dividend — CALX or SNOW?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is CALX or SNOW better for a retirement portfolio?
For long-horizon retirement investors, Calix, Inc. (CALX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.18), +644.9% 10Y return). Both have compounded well over 10 years (CALX: +644.9%, SNOW: -33.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CALX and SNOW?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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