Pure Storage Intrinsic Value Calculator – PURE STORAGE Reports Q2 FY2024 Earnings, Ending July 31 2023
September 1, 2023
🌥️Earnings Overview
On August 30 2023, PURE STORAGE ($NYSE:PSTG) reported their financial results for the second quarter of FY2024 ending July 31 2023. Total revenue for the quarter was USD 688.7 million, representing a 6.5% increase from the same period in FY2023. Net income for the quarter was USD -7.1 million, a decrease from 10.9 million in the prior year.
Share Price
On Wednesday, PURE STORAGE reported their Q2 FY2024 earnings which ended July 31 2023. The tech company’s stock opened at $36.2 and closed at $36.5, representing a slight 0.4% increase from the prior closing price of 36.3. This marks the latest in a series of positive financial strides for the company, as the past few years have seen strong earnings growth and general improvement in the tech industry’s outlook. The past quarter marked a period of strong growth for PURE STORAGE, as their earnings for the period rose considerably over the same quarter from the previous year. Much of this was attributed to their expanding customer base and strong focus on increasing market share.
Furthermore, their focus on data-driven decision making further contributed to their strong performance this quarter. Overall, PURE STORAGE had a successful Q2 FY2024 and continue to deliver steady financial returns to their investors. Their results highlight the value of investing in this tech giant, and suggest that the company is poised to make further gains in the coming year. With their stocks trading above their prior closing price and the outlook for the industry looking promising, PURE STORAGE is well positioned to continue its success and maintain its status as a leading tech player. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pure Storage. More…
| Total Revenues | Net Income | Net Margin |
| 2.76k | -0.83 | 0.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pure Storage. More…
| Operations | Investing | Financing |
| 662.59 | -302.87 | -603.97 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pure Storage. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.13k | 2.15k | 3.21 |
Key Ratios Snapshot
Some of the financial key ratios for Pure Storage are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.8% | – | 1.0% |
| FCF Margin | ROE | ROA |
| 16.5% | 1.9% | 0.6% |
Analysis – Pure Storage Intrinsic Value Calculator
At GoodWhale, we have conducted an analysis of PURE STORAGE‘s fundamentals. After our calculations, we have determined that the intrinsic value of PURE STORAGE share is at around $29.7. This number was determined using our proprietary Valuation Line. Currently, PURE STORAGE stock is traded at $36.5, which is 22.9% higher than its intrinsic value. This suggests that the stock is currently trading at an overvalued price. More…
Peers
Its competitors, Cambex Corp, Wiwynn Corp, and NetApp Inc, are all providers of flash-based storage solutions.
– Cambex Corp ($OTCPK:CBEX)
Cambex Corp is a publicly traded company with a market capitalization of 468.58k as of 2022. The company has a return on equity of -9.55%. Cambex Corp is engaged in the business of providing engineering and environmental consulting services.
– Wiwynn Corp ($TWSE:6669)
Wiwynn Corp is a leading provider of data center solutions. Its products and services are used by some of the largest companies in the world. The company has a market cap of 113.47B as of 2022 and a return on equity of 29.23%. Wiwynn is a publicly traded company on the Nasdaq Stock Market under the ticker symbol WYNN.
– NetApp Inc ($NASDAQ:NTAP)
NetApp Inc. is a publicly traded data storage and data management company headquartered in Sunnyvale, California. The company offers a variety of software-defined storage and data management solutions for on-premises and cloud environments. NetApp was founded in 1992 and went public in 1995. The company has a market capitalization of $13.58 billion as of 2022 and a return on equity of 100.42%. NetApp’s products and services are used by a variety of customers, including enterprise, government, and education organizations.
Summary
Pure Storage‘s second quarter of FY2024 ending July 31 2023 revealed an overall 6.5% increase in total revenue compared to the same period in the prior year. Net income was negative, however, at USD -7.1 million, a decrease from 10.9 million in the prior year. Investors should consider the overall growth of revenues as well as the decrease in net income when considering this stock for potential investments. In addition, looking at the company’s performance over the last year and the state of the technology industry may help investors make informed decisions.
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