One-glance verdict
Overvalued
$54.11 our estimate vs market $113.66
Wall Street consensus: $130.53 (141.2% higher than our fair-value estimate)
110% above our estimate, beyond the bull case
Fundamentals snapshot
Everpure, Inc.
P · NYQ · Technology · Computer Hardware
Current price
$113.66
52-week range
$56.78 - $119.10
Market cap
$37.87B
Balance sheet
Healthy
34.02x Strong cushion
Net cash $782.58M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 16.4% last year.
- Reward Returns 17.7% on equity, ahead of 25% of its peers.
- Reward Free cash flow was positive in 9/10 years.
What this company does
Everpure, Inc.
Everpure sells high-performance data storage systems to businesses, acting as a super-fast digital filing cabinet for all their information. The company makes money from selling this hardware and charging subscription fees for its management software, which is important because nearly every company needs a reliable place to store its growing mountain of data.
How the company got here
Everpure, Inc. was founded in 2009 with the name Pure Storage, aiming to make data storage faster and more efficient by using all-flash technology, which is a much speedier alternative to traditional hard drives. A significant development in their history was the creation of the "Evergreen" model, which allows customers to update their storage systems without the need to replace all the hardware, saving them both money and effort. To signify its evolution from a hardware seller to a comprehensive data management platform, the company changed its name to Everpure, Inc. in February 2026.
What it actually does
Everpure offers technology and services that assist businesses in storing, managing, and retrieving large volumes of digital information. You can think of them as providing a very organized and high-speed warehouse for a company's data. Their products are utilized for a wide range of purposes, from operating daily applications and databases to supporting advanced technologies like artificial intelligence. Everpure uses "flash" storage, which is similar to the memory in a smartphone and allows for much faster data access than older, spinning hard drives. The company sells the physical equipment for data storage, the software to manage it, and also offers these as a subscription service.
Product
This segment of the company focuses on selling the physical hardware that stores a company's data. The primary product lines are FlashArray, which is designed for structured data such as databases, and FlashBlade, which is used for unstructured data like videos, images, and documents. This part of the business supplies the essential components for a company's data center (the facility that houses all the computers and storage). This is the larger of the two main business segments, accounting for just over half of the company's revenue.
Subscription Services
This is a rapidly expanding and crucial part of Everpure's business, contributing a substantial portion of its revenue. Customers pay a recurring fee for various services instead of making a one-time purchase. This includes their "Evergreen" subscriptions, which ensure the hardware and software are always current without causing significant interruptions. It also features Portworx, a service that aids companies in managing their applications in the cloud, and "Storage-as-a-Service," which allows customers to rent storage capacity and services from Everpure. This offers businesses a more predictable and adaptable method for handling their data storage requirements.
What management is betting on now
The company's leadership is concentrating on establishing Everpure as a key platform for data management in the era of artificial intelligence (AI). They are making significant investments to ensure their systems can handle the vast data requirements of AI applications. Another key area of focus is on "hybrid cloud" environments, which involves simplifying data management for businesses, regardless of whether their data is stored in their own data centers or on public cloud platforms like Amazon Web Services or Microsoft Azure. Lastly, they are continuing to promote their subscription services to build more stable, long-term sources of income instead of depending only on single hardware sales.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q3
$35.20M
FY2025 Q4
$152.42M
FY2026 Q1
$211.59M
FY2026 Q2
$150.13M
FY2026 Q3
$52.57M
FY2026 Q4
$201.45M
FY2027 Q1
$111.75M
FY2027 Q2
$-237.60M
Revenue
$1.19B
Net income
$74.15M
Diluted EPS
0.21
Operating cash flow
$-136.35M
Free cash flow
$-237.60M
Fetching…
Sources
Revenue
$1.05B
Net income
$24.08M
Diluted EPS
0.07
Operating cash flow
$180.16M
Free cash flow
$111.75M
Fetching…
Sources
Revenue
$1.06B
Net income
$100.25M
Diluted EPS
0.29
Operating cash flow
$268.00M
Free cash flow
$201.45M
Fetching…
Sources
Revenue
$964.45M
Net income
$54.81M
Diluted EPS
0.16
Operating cash flow
$115.99M
Free cash flow
$52.57M
Fetching…
Sources
Revenue
$861.00M
Net income
$47.12M
Diluted EPS
0.14
Operating cash flow
$212.16M
Free cash flow
$150.13M
Fetching…
Sources
Revenue
$778.49M
Net income
$-13.99M
Diluted EPS
-0.04
Operating cash flow
$283.94M
Free cash flow
$211.59M
Fetching…
Sources
Revenue
$879.84M
Net income
$42.44M
Diluted EPS
0.13
Operating cash flow
$208.51M
Free cash flow
$152.42M
Fetching…
Sources
Revenue
$831.07M
Net income
$63.64M
Diluted EPS
0.19
Operating cash flow
$96.99M
Free cash flow
$35.20M
Fetching…
Sources
Is it cheap or expensive?
Fair value $54.11 vs current price $113.66
Wall Street consensus is the average analyst price target: $130.53 (141.2% higher than our fair-value estimate).
Our most-likely fair value is $54.11 a share — about 52.4% below today's price of $113.66, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net cash $782.6M - more cash than debt. Interest coverage 34.0x.
Net debt
$-782.58M
Interest coverage
34.02x
Everpure, Inc.'s profit covers its interest bill about 34.0 times over. which is stronger than every peer shown here.
Healthy
Worse cushion
Baseline
Better cushion
P
BASELINE
Everpure, Inc.
Total debt $225.31M Interest coverage 34.02x This is the baseline the peer rows are being compared against.
Total debt $35.28B Interest coverage 5.41x -84% vs P Carries about 6.3x less debt cushion than P.
Total debt $10.34B Interest coverage 6.53x -81% vs P Carries about 5.2x less debt cushion than P.
Total debt $20.32B Interest coverage 14.05x -59% vs P Carries about 2.4x less debt cushion than P.
Total debt $9.26B Interest coverage 14.24x -58% vs P Carries about 2.4x less debt cushion than P.
Total debt $2.53B Interest coverage 15.55x -54% vs P Carries about 2.2x less debt cushion than P.
What you should know
The case for and against P
3 Rewards
0 Risks
Rewards
-
Revenue grew 16.4% last year.
-
Returns 17.7% on equity, ahead of 25% of its peers.
-
Free cash flow was positive in 9/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
155.70x
Forward P/E
32.02x
P/B
25.97x
P/S
8.89x
EV/EBITDA
96.57x
PEG ratio
2.13x
Profitability
How much profit each dollar creates
Gross margin
69.7%
Operating margin
5.3%
Net margin
5.9%
ROE
17.7%
ROA
3.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.15x
Current ratio
1.51x
Quick ratio
1.34x
Total debt
$225.31M
Total cash
$1.01B
Growth
How the business has been compounding
Revenue TTM
$4.26B
Revenue 5Y CAGR
13.8%
EPS TTM
0.73
EPS 5Y CAGR
33.7%
Cash flow
How much cash the business throws off
Operating CF TTM
$427.81M
Free CF TTM
$615.74M
FCF margin
14.4%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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