Pure Storage, Inc.
- Open
- 74.22
- Day high
- 74.78
- Day low
- 72.21
- Prev close
- 72.67
- Volume
- 7.5M
- Mkt cap
- $28.5B
- P/E (TTM)
- 94.7
- EPS (TTM)
- $0.79
- P/B
- 19.7
- P/S
- 7.2
- Yield
- —
- Per share
- —
Pure Storage, Inc. (PSTG) is a Technology company listed on NYSE. The stock is up 45% over the past year. Drillr has 1 published research article covering PSTG.
Pure Storage, Inc. (PSTG) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PSTG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Feb 25, 2026 | $0.65 | $0.29 | -55.2% | $1.1B | +2.8% |
| Dec 2, 2025 | $0.58 | $0.58 | +0.3% | $964M | +1.1% |
| Aug 27, 2025 | $0.39 | $0.43 | +10.5% | $861M | +1.7% |
| May 28, 2025 | $0.25 | $0.29 | +16.5% | $778M | +1.0% |
| Feb 26, 2025 | $0.42 | $0.45 | +7.7% | $880M | +1.4% |
| Dec 3, 2024 | $0.43 | $0.50 | +17.4% | $831M | +1.9% |
| Aug 28, 2024 | $0.37 | $0.44 | +18.9% | $764M | +1.1% |
| May 29, 2024 | $0.21 | $0.32 | +53.8% | $693M | +2.4% |
| Feb 28, 2024 | $0.44 | $0.50 | +12.6% | $790M | +0.1% |
| Nov 29, 2023 | $0.41 | $0.50 | +21.7% | $763M | +0.1% |
| Aug 30, 2023 | $0.29 | $0.34 | +18.9% | $689M | +0.8% |
| May 31, 2023 | $0.04 | $0.08 | +114.6% | $589M | +3.3% |
PSTG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 24, 2026 | Colgrove Johndirector, officer: Chief Visionary Officer | Tax | 58,552 | $65.45 |
| Mar 24, 2026 | Chu Monaofficer: Chief Accounting Officer | Tax | 9,232 | $65.45 |
| Mar 24, 2026 | ROBBIATI TAREKofficer: Chief Financial Officer | Tax | 23,337 | $65.45 |
| Mar 24, 2026 | Singh Ajayofficer: Chief Product Officer | Tax | 34,874 | $65.45 |
| Mar 24, 2026 | Giancarlo Charles Hdirector, officer: CEO | Tax | 108,940 | $65.45 |
| Mar 12, 2026 | Chu Monaofficer: Chief Accounting Officer | Grant | 37,533 | — |
| Mar 12, 2026 | Colgrove Johndirector, officer: Chief Visionary Officer | Grant | 320,277 | — |
| Mar 12, 2026 | Singh Ajayofficer: Chief Product Officer | Grant | 180,156 | — |
| Mar 12, 2026 | Giancarlo Charles Hdirector, officer: CEO | Grant | 540,467 | — |
| Mar 12, 2026 | ROBBIATI TAREKofficer: Chief Financial Officer | Grant | 139,577 | — |
| Mar 10, 2026 | Giancarlo Charles Hdirector, officer: CEO | Tax | 195,177 | $60.90 |
| Mar 10, 2026 | Giancarlo Charles Hdirector, officer: CEO | Option | 500,000 | $12.84 |
| Jan 6, 2026 | Murphy John Francisdirector | Sell | 4,038 | $68.89 |
| Dec 23, 2025 | Colgrove Johndirector, officer: Chief Visionary Officer | Tax | 7,326 | $69.13 |
| Dec 23, 2025 | Giancarlo Charles Hdirector, officer: CEO | Tax | 21,010 | $69.13 |
Source: PSTG SEC Form 4 filings, latest Mar 24, 2026. For informational purposes only — not investment advice.
See the full PSTG insider & 13F page →PSTG research & analysis
Pure Storage, Inc. company profile
Overview
Pure Storage, Inc. (NASDAQ:PSTG) is a data storage technology company founded in 2009 and headquartered in Mountain View, California. The company went public in October 2015 and has established itself as a leading provider of all-flash storage solutions for enterprises. Pure Storage specializes in replacing traditional hard disk-based storage systems with faster, more efficient flash memory storage arrays, serving customers across various industries including Fortune 500 companies, hyperscale cloud providers, and government organizations.
Business
Pure Storage operates in the enterprise data storage industry, which provides the foundational infrastructure that organizations use to store, manage, and access their digital information. The company's core business revolves around all-flash storage arrays - high-performance storage systems that use flash memory (similar to what's found in smartphones and SSDs) instead of traditional spinning hard disk drives. The company's product portfolio centers around several key offerings. FlashArray serves as Pure's flagship product line for block-oriented storage, handling structured data workloads like databases, virtual machines, and traditional enterprise applications. This product line includes FlashArray//XL for high-capacity needs and FlashArray//C, which uses QLC (Quad-Level Cell) flash technology for cost-effective storage. FlashBlade addresses unstructured data workloads such as analytics, artificial intelligence training, and file storage, offering scale-out architecture that can handle massive datasets. The company also provides Pure Fusion, a software platform that enables enterprises to manage their storage infrastructure like a cloud service, automating data management policies across different environments. Additionally, Pure offers Portworx, a Kubernetes-native data management solution for containerized applications, and various AI-focused solutions including storage systems optimized for machine learning and artificial intelligence workloads. Pure Storage's revenue is roughly split between product sales (approximately 60%) and subscription services (approximately 40%), with the subscription services portion growing faster and including software licenses, support services, and storage-as-a-service offerings.
Revenue model
Pure Storage generates revenue through two primary business models. The traditional model involves direct product sales where customers purchase storage hardware and software licenses upfront, typically ranging from hundreds of thousands to millions of dollars per deployment. The growing subscription model includes Evergreen//One and Pure as-a-Service offerings, where customers pay recurring fees for storage capacity and services, similar to cloud computing models. The company's paying customers are primarily large enterprises, government organizations, and cloud service providers who require high-performance, reliable data storage. These customers typically have significant IT budgets and complex data management needs that justify premium pricing for Pure's solutions. The company also serves hyperscale cloud providers - massive data center operators like Amazon, Google, and Microsoft - though this represents a newer and developing revenue stream. Several factors influence Pure Storage's profit margins. NAND flash memory pricing represents the most significant cost component, as Pure purchases flash memory chips from suppliers like Kioxia. When NAND prices rise, it can pressure product gross margins, though Pure typically passes some costs to customers through pricing adjustments. Competition from traditional storage vendors and newer all-flash competitors can pressure pricing, while Pure's technological advantages in data reduction and efficiency help maintain premium positioning. The company benefits from the ongoing secular shift from hard disk drives to flash storage, driven by performance requirements and total cost of ownership advantages. However, economic downturns can extend sales cycles as enterprise customers become more cautious about large capital expenditures. The emergence of artificial intelligence workloads has created new high-performance storage demand, potentially expanding Pure's addressable market and supporting higher-margin sales.
Competitive moat
Pure Storage's competitive moat centers on several technological and operational advantages, though the strength of these moats varies. The company's DirectFlash technology represents a significant technical differentiator, as Pure designs and controls its own flash modules rather than using off-the-shelf SSDs like many competitors. This approach enables better performance optimization, reliability, and cost management across the entire storage stack. The company's Purity operating system provides advanced data services including deduplication, compression, and encryption that are shared across all product lines. This software platform creates switching costs for customers and enables Pure to deliver consistent management experiences across different storage tiers. The Evergreen architecture allows non-disruptive upgrades and maintenance, reducing operational complexity for customers and creating stickiness. Pure's subscription and service model creates recurring revenue streams and deeper customer relationships beyond traditional hardware sales. The company's storage-as-a-service offerings compete directly with cloud storage providers while allowing enterprises to maintain on-premises control. However, Pure Storage's moat faces several challenges. The flash storage market has become increasingly commoditized, with traditional storage vendors like Dell EMC, HPE, and NetApp offering competitive all-flash solutions. Hyperscale cloud providers represent both an opportunity and a threat, as they possess massive scale advantages and increasingly develop their own storage technologies. The rise of software-defined storage and open-source alternatives could potentially erode Pure's software differentiation over time. The company's moat appears moderately strong in the near term due to technological leadership and customer relationships, but faces long-term pressure from commoditization trends and well-funded competitors with broader product portfolios.
Risks & safety
Pure Storage demonstrates a solid financial position with moderate margin of safety, though valuation metrics suggest limited downside protection. • Strong balance sheet: $724 million in cash and short-term investments with total debt of approximately $280 million, providing substantial liquidity cushion • Positive cash generation: Operating cash flow of $754 million and free cash flow of $527 million in FY 2025, indicating healthy cash conversion • Low solvency risk: Current ratio of 1.61 and debt-to-equity ratio of 0.22 suggest manageable financial obligations • Elevated valuation metrics: EV/EBITDA of 62.4x and P/E ratio around 45x indicate high market expectations with limited margin for disappointment • Price-to-book ratio of 16.7x suggests significant premium to tangible assets • Revenue multiple: Trading at approximately 5.7x revenue, high for a hardware-oriented business • Cyclical business risks: Enterprise IT spending can be volatile during economic downturns, potentially impacting demand • Technology transition risks: Rapid changes in storage technology could obsolete current product advantages
Recent development
Over the past several years, Pure Storage has executed several strategic pivots to position itself for growth in evolving technology markets. The company has significantly expanded its artificial intelligence storage capabilities, developing specialized solutions for AI training environments, enterprise AI inference workloads, and data preparation for machine learning applications. This includes partnerships with NVIDIA for GPU-optimized storage solutions and the introduction of AI-focused product configurations. The most significant recent development is Pure Storage's hyperscaler design win with a top-four cloud provider, expected to generate substantial revenue beginning in fiscal 2027. This breakthrough represents years of investment in developing storage solutions that can compete on power efficiency, reliability, and cost-effectiveness at massive scale. The company will provide technology licensing and support services rather than hardware, creating a higher-margin revenue stream. Pure Storage has also launched Pure Fusion v.2, a transformative software platform that enables enterprises to manage their storage infrastructure as a unified cloud service. This technology breaks down data silos and automates storage management policies across different environments, addressing a key enterprise pain point and creating additional software revenue opportunities. The company has expanded its storage-as-a-service offerings through Evergreen//One and Pure as-a-Service, shifting from traditional capital expenditure sales to operational expenditure subscription models. While adoption has been strong, economic pressures have led some customers to revert to traditional purchasing models in recent quarters. Product innovation has focused on the E-family product line, which uses QLC flash technology to compete directly with traditional hard disk storage on cost while maintaining flash performance advantages. The company has also introduced 150-terabyte DirectFlash modules, significantly increasing storage density and improving economics for large-scale deployments.
PSTG company profile · for informational purposes only — not investment advice.
Track PSTG with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free