Pure Storage Inc Financials
This page shows Pure Storage Inc (PSTG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Pure Storage Inc has an operating margin of 2.7%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 13/100, suggesting thin profitability after operating expenses. This is up from 1.9% the prior year.
Pure Storage Inc's revenue grew 11.9% year-over-year to $3.2B, a solid pace of expansion. This earns a growth score of 63/100.
Pure Storage Inc has a moderate D/E ratio of 2.06. This balance of debt and equity financing earns a leverage score of 35/100.
Pure Storage Inc's current ratio of 1.61 indicates adequate short-term liquidity, earning a score of 44/100. The company can meet its near-term obligations, though with limited headroom.
Pure Storage Inc converts 16.6% of revenue into free cash flow ($526.9M). This strong cash generation earns a score of 83/100.
Pure Storage Inc's ROE of 8.6% shows moderate profitability relative to equity, earning a score of 34/100. This is up from 4.5% the prior year.
Pure Storage Inc scores 6.38, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($24.4B) relative to total liabilities ($2.6B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Pure Storage Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Pure Storage Inc generates $7.06 in operating cash flow ($753.6M OCF vs $106.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Pure Storage Inc earns $10.9 in operating income for every $1 of interest expense ($85.3M vs $7.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Pure Storage Inc generated $3.2B in revenue in fiscal year 2025. This represents an increase of 11.9% from the prior year.
Pure Storage Inc's EBITDA was $199.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.2% from the prior year.
Pure Storage Inc generated $526.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 9.2% from the prior year.
Pure Storage Inc reported $106.7M in net income in fiscal year 2025. This represents an increase of 74.1% from the prior year.
Pure Storage Inc earned $0.31 per diluted share (EPS) in fiscal year 2025. This represents an increase of 63.2% from the prior year.
Pure Storage Inc held $739.3M in cash against $0 in long-term debt as of fiscal year 2025.
Pure Storage Inc had 326M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.
Pure Storage Inc's gross margin was 69.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.6 percentage points from the prior year.
Pure Storage Inc's operating margin was 2.7% in fiscal year 2025, reflecting core business profitability. This is up 0.8 percentage points from the prior year.
Pure Storage Inc's net profit margin was 3.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.2 percentage points from the prior year.
Pure Storage Inc's ROE was 8.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.1 percentage points from the prior year.
Pure Storage Inc invested $804.4M in research and development in fiscal year 2025. This represents an increase of 9.2% from the prior year.
Pure Storage Inc spent $374.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 175.4% from the prior year.
Pure Storage Inc invested $226.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 16.2% from the prior year.
PSTG Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $964.5M+12.0% | $861.0M+10.6% | $778.5M-6.3% | $831.1M+8.8% | $763.8M+10.1% | $693.5M-12.2% | $789.8M+3.5% | $762.8M |
| Cost of Revenue | $267.1M+4.1% | $256.7M+5.9% | $242.3M-2.3% | $248.2M+10.9% | $223.7M+13.1% | $197.8M-10.6% | $221.3M+5.3% | $210.1M |
| Gross Profit | $697.4M+15.4% | $604.3M+12.7% | $536.2M-8.0% | $582.9M+7.9% | $540.1M+9.0% | $495.7M-12.8% | $568.5M+2.9% | $552.7M |
| R&D Expenses | $256.4M+5.9% | $242.0M+9.1% | $221.7M+10.8% | $200.1M+2.4% | $195.5M+0.9% | $193.8M+3.7% | $186.8M+2.6% | $182.1M |
| SG&A Expenses | $93.3M+30.4% | $71.5M+6.7% | $67.1M-0.4% | $67.3M-3.1% | $69.4M-9.6% | $76.8M+29.5% | $59.3M-8.4% | $64.7M |
| Operating Income | $53.9M+1006.9% | $4.9M+115.6% | -$31.2M-152.2% | $59.7M+139.9% | $24.9M+159.6% | -$41.8M-172.8% | $57.4M-22.7% | $74.2M |
| Interest Expense | $266K-74.7% | $1.1M-41.8% | $1.8M-6.1% | $1.9M-5.1% | $2.0M+0.8% | $2.0M-1.5% | $2.0M-2.5% | $2.1M |
| Income Tax | $10.9M+215.7% | $3.5M-76.2% | $14.5M+9.7% | $13.2M+52.8% | $8.6M+17.9% | $7.3M+36.7% | $5.4M-40.5% | $9.0M |
| Net Income | $54.8M+16.3% | $47.1M+436.7% | -$14.0M-122.0% | $63.6M+78.4% | $35.7M+201.9% | -$35.0M-153.5% | $65.4M-7.0% | $70.4M |
| EPS (Diluted) | $0.16+14.3% | $0.14+450.0% | $-0.04-121.1% | $0.19+90.0% | $0.10+190.9% | $-0.11-150.0% | $0.22+4.8% | $0.21 |
PSTG Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.2B+4.8% | $4.0B+5.7% | $3.8B-1.1% | $3.9B+1.9% | $3.8B+4.4% | $3.6B-0.9% | $3.7B+8.9% | $3.4B |
| Current Assets | $2.7B+5.1% | $2.5B+5.2% | $2.4B-6.2% | $2.6B+0.3% | $2.6B+4.3% | $2.4B-2.0% | $2.5B+11.2% | $2.2B |
| Cash & Equivalents | $852.8M-3.9% | $887.8M+20.1% | $739.3M-17.4% | $894.6M-7.3% | $965.0M+7.2% | $900.6M+28.2% | $702.5M+32.8% | $529.2M |
| Inventory | $82.4M+76.1% | $46.8M+24.7% | $37.5M-9.7% | $41.6M-4.5% | $43.5M+7.1% | $40.7M-4.7% | $42.7M-7.7% | $46.2M |
| Accounts Receivable | $621.0M+17.1% | $530.5M+29.0% | $411.3M-28.9% | $578.2M+38.8% | $416.5M-1.6% | $423.5M-36.1% | $662.2M+4.1% | $636.3M |
| Goodwill | $364.7M+0.9% | $361.4M0.0% | $361.4M0.0% | $361.4M0.0% | $361.4M0.0% | $361.4M0.0% | $361.4M0.0% | $361.4M |
| Total Liabilities | $2.8B+4.0% | $2.7B+5.5% | $2.6B+5.0% | $2.4B+5.0% | $2.3B+3.5% | $2.2B-5.7% | $2.4B+8.1% | $2.2B |
| Current Liabilities | $1.6B+4.6% | $1.5B+2.7% | $1.5B+3.5% | $1.4B+12.6% | $1.3B+4.6% | $1.2B-10.2% | $1.4B+10.3% | $1.2B |
| Long-Term Debt | $0 | N/A | N/A | $0-100.0% | $100.0M0.0% | $100.0M0.0% | $100.0M0.0% | $100.0M |
| Total Equity | $1.4B+6.4% | $1.3B+6.0% | $1.2B-11.8% | $1.4B-2.9% | $1.5B+5.8% | $1.4B+8.2% | $1.3B+10.6% | $1.1B |
| Retained Earnings | -$1.3B+4.1% | -$1.3B+3.4% | -$1.4B+2.0% | -$1.4B+4.3% | -$1.5B+2.4% | -$1.5B-2.4% | -$1.5B+4.2% | -$1.5B |
PSTG Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $116.0M-45.3% | $212.2M-25.3% | $283.9M+192.7% | $97.0M-57.2% | $226.6M+2.3% | $221.5M-9.4% | $244.4M+54.3% | $158.4M |
| Capital Expenditures | $63.4M+2.2% | $62.0M-14.3% | $72.3M+17.1% | $61.8M+2.9% | $60.0M+23.0% | $48.8M+12.0% | $43.6M-3.3% | $45.1M |
| Free Cash Flow | $52.6M-65.0% | $150.1M-29.0% | $211.6M+501.0% | $35.2M-78.9% | $166.6M-3.5% | $172.7M-14.0% | $200.9M+77.2% | $113.4M |
| Investing Cash Flow | -$43.8M-133.7% | $129.8M+216.1% | -$111.8M-383.8% | $39.4M+146.6% | -$84.5M-74.6% | -$48.4M-15.7% | -$41.8M-12.4% | -$37.2M |
| Financing Cash Flow | -$107.8M+44.0% | -$192.4M-28.5% | -$149.8M+28.3% | -$208.9M-188.1% | -$72.5M-390.3% | $25.0M+184.3% | -$29.6M-3139.9% | -$914K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $53.3M+26.1% | $42.2M-64.8% | $119.9M-34.1% | $182.0M | $0 | $0-100.0% | $21.5M-4.5% | $22.5M |
PSTG Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.3%+2.1pp | 70.2%+1.3pp | 68.9%-1.3pp | 70.1%-0.6pp | 70.7%-0.8pp | 71.5%-0.5pp | 72.0%-0.5pp | 72.5% |
| Operating Margin | 5.6%+5.0pp | 0.6%+4.6pp | -4.0%-11.2pp | 7.2%+3.9pp | 3.3%+9.3pp | -6.0%-13.3pp | 7.3%-2.5pp | 9.7% |
| Net Margin | 5.7%+0.2pp | 5.5%+7.3pp | -1.8%-9.5pp | 7.7%+3.0pp | 4.7%+9.7pp | -5.1%-13.3pp | 8.3%-0.9pp | 9.2% |
| Return on Equity | 3.9%+0.3pp | 3.6% | N/A | 4.5%+2.1pp | 2.5% | N/A | 5.1%-1.0pp | 6.1% |
| Return on Assets | 1.3%+0.1pp | 1.2%+1.5pp | -0.4%-2.0pp | 1.7%+0.7pp | 0.9%+1.9pp | -1.0%-2.8pp | 1.8%-0.3pp | 2.1% |
| Current Ratio | 1.650.0 | 1.65+0.0 | 1.61-0.2 | 1.77-0.2 | 1.990.0 | 2.00+0.2 | 1.83+0.0 | 1.82 |
| Debt-to-Equity | 2.01-0.0 | 2.050.0 | 2.06+2.1 | 0.00-0.1 | 0.070.0 | 0.070.0 | 0.080.0 | 0.09 |
| FCF Margin | 5.5%-12.0pp | 17.4%-9.7pp | 27.2%+22.9pp | 4.2%-17.6pp | 21.8%-3.1pp | 24.9%-0.5pp | 25.4%+10.6pp | 14.9% |
Similar Companies
Frequently Asked Questions
What is Pure Storage Inc's annual revenue?
Pure Storage Inc (PSTG) reported $3.2B in total revenue for fiscal year 2025. This represents a 11.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pure Storage Inc's revenue growing?
Pure Storage Inc (PSTG) revenue grew by 11.9% year-over-year, from $2.8B to $3.2B in fiscal year 2025.
Is Pure Storage Inc profitable?
Yes, Pure Storage Inc (PSTG) reported a net income of $106.7M in fiscal year 2025, with a net profit margin of 3.4%.
What is Pure Storage Inc's earnings per share (EPS)?
Pure Storage Inc (PSTG) reported diluted earnings per share of $0.31 for fiscal year 2025. This represents a 63.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Pure Storage Inc's EBITDA?
Pure Storage Inc (PSTG) had EBITDA of $199.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pure Storage Inc's gross margin?
Pure Storage Inc (PSTG) had a gross margin of 69.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pure Storage Inc's operating margin?
Pure Storage Inc (PSTG) had an operating margin of 2.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Pure Storage Inc's net profit margin?
Pure Storage Inc (PSTG) had a net profit margin of 3.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Pure Storage Inc's return on equity (ROE)?
Pure Storage Inc (PSTG) has a return on equity of 8.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pure Storage Inc's free cash flow?
Pure Storage Inc (PSTG) generated $526.9M in free cash flow during fiscal year 2025. This represents a 9.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pure Storage Inc's operating cash flow?
Pure Storage Inc (PSTG) generated $753.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pure Storage Inc's total assets?
Pure Storage Inc (PSTG) had $3.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pure Storage Inc's capital expenditures?
Pure Storage Inc (PSTG) invested $226.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Pure Storage Inc spend on research and development?
Pure Storage Inc (PSTG) invested $804.4M in research and development during fiscal year 2025.
Does Pure Storage Inc buy back shares?
Yes, Pure Storage Inc (PSTG) spent $374.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Pure Storage Inc have outstanding?
Pure Storage Inc (PSTG) had 326M shares outstanding as of fiscal year 2025.
What is Pure Storage Inc's current ratio?
Pure Storage Inc (PSTG) had a current ratio of 1.61 as of fiscal year 2025, which is generally considered healthy.
What is Pure Storage Inc's debt-to-equity ratio?
Pure Storage Inc (PSTG) had a debt-to-equity ratio of 2.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pure Storage Inc's return on assets (ROA)?
Pure Storage Inc (PSTG) had a return on assets of 2.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pure Storage Inc's Altman Z-Score?
Pure Storage Inc (PSTG) has an Altman Z-Score of 6.38, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pure Storage Inc's Piotroski F-Score?
Pure Storage Inc (PSTG) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pure Storage Inc's earnings high quality?
Pure Storage Inc (PSTG) has an earnings quality ratio of 7.06x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Pure Storage Inc cover its interest payments?
Pure Storage Inc (PSTG) has an interest coverage ratio of 10.9x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Pure Storage Inc?
Pure Storage Inc (PSTG) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.