Intrinsic value of Pure Storage Cl A - PSTG

Previous Close

$16.39

  Intrinsic Value

$0.48

stock screener

  Rating & Target

str. sell

-97%

  Value-price divergence*

-114%

Previous close

$16.39

 
Intrinsic value

$0.48

 
Up/down potential

-97%

 
Rating

str. sell

 
Value-price divergence*

-114%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PSTG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  65.45
  37.40
  34.16
  31.24
  28.62
  26.26
  24.13
  22.22
  20.50
  18.95
  17.55
  16.30
  15.17
  14.15
  13.24
  12.41
  11.67
  11.00
  10.40
  9.86
  9.38
  8.94
  8.55
  8.19
  7.87
  7.58
  7.33
  7.09
  6.88
  6.70
  6.53
Revenue, $m
  728
  1,000
  1,342
  1,761
  2,265
  2,860
  3,550
  4,339
  5,229
  6,219
  7,311
  8,502
  9,792
  11,178
  12,657
  14,228
  15,888
  17,637
  19,472
  21,392
  23,398
  25,490
  27,668
  29,934
  32,290
  34,739
  37,284
  39,929
  42,678
  45,535
  48,507
Variable operating expenses, $m
 
  1,118
  1,500
  1,969
  2,533
  3,198
  3,969
  4,851
  5,846
  6,953
  8,174
  9,506
  10,947
  12,496
  14,150
  15,907
  17,763
  19,718
  21,769
  23,916
  26,159
  28,497
  30,932
  33,466
  36,100
  38,838
  41,684
  44,640
  47,713
  50,908
  54,231
Fixed operating expenses, $m
 
  167
  171
  176
  180
  184
  189
  194
  199
  204
  209
  214
  219
  225
  230
  236
  242
  248
  254
  261
  267
  274
  281
  288
  295
  302
  310
  317
  325
  334
  342
Total operating expenses, $m
  973
  1,285
  1,671
  2,145
  2,713
  3,382
  4,158
  5,045
  6,045
  7,157
  8,383
  9,720
  11,166
  12,721
  14,380
  16,143
  18,005
  19,966
  22,023
  24,177
  26,426
  28,771
  31,213
  33,754
  36,395
  39,140
  41,994
  44,957
  48,038
  51,242
  54,573
Operating income, $m
  -245
  -285
  -330
  -383
  -447
  -522
  -608
  -706
  -816
  -937
  -1,071
  -1,217
  -1,375
  -1,544
  -1,724
  -1,915
  -2,117
  -2,329
  -2,552
  -2,785
  -3,028
  -3,282
  -3,545
  -3,820
  -4,105
  -4,401
  -4,709
  -5,029
  -5,361
  -5,707
  -6,066
EBITDA, $m
  -195
  -265
  -302
  -347
  -401
  -464
  -536
  -617
  -709
  -811
  -922
  -1,044
  -1,175
  -1,316
  -1,466
  -1,625
  -1,793
  -1,969
  -2,155
  -2,348
  -2,551
  -2,762
  -2,981
  -3,209
  -3,446
  -3,693
  -3,949
  -4,215
  -4,491
  -4,778
  -5,076
Interest expense (income), $m
  0
  0
  1
  6
  12
  20
  29
  39
  52
  65
  80
  97
  115
  135
  156
  179
  203
  228
  255
  283
  312
  343
  375
  408
  443
  479
  516
  555
  595
  637
  681
Earnings before tax, $m
  -243
  -285
  -330
  -389
  -459
  -542
  -637
  -745
  -867
  -1,003
  -1,152
  -1,314
  -1,490
  -1,678
  -1,880
  -2,094
  -2,319
  -2,557
  -2,807
  -3,068
  -3,340
  -3,624
  -3,920
  -4,228
  -4,548
  -4,880
  -5,225
  -5,584
  -5,957
  -6,344
  -6,747
Tax expense, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -245
  -285
  -330
  -389
  -459
  -542
  -637
  -745
  -867
  -1,003
  -1,152
  -1,314
  -1,490
  -1,678
  -1,880
  -2,094
  -2,319
  -2,557
  -2,807
  -3,068
  -3,340
  -3,624
  -3,920
  -4,228
  -4,548
  -4,880
  -5,225
  -5,584
  -5,957
  -6,344
  -6,747

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  547
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  900
  485
  651
  854
  1,099
  1,387
  1,722
  2,104
  2,536
  3,016
  3,546
  4,123
  4,749
  5,421
  6,138
  6,900
  7,705
  8,553
  9,443
  10,374
  11,347
  12,362
  13,418
  14,517
  15,660
  16,847
  18,082
  19,364
  20,697
  22,083
  23,524
Adjusted assets (=assets-cash), $m
  353
  485
  651
  854
  1,099
  1,387
  1,722
  2,104
  2,536
  3,016
  3,546
  4,123
  4,749
  5,421
  6,138
  6,900
  7,705
  8,553
  9,443
  10,374
  11,347
  12,362
  13,418
  14,517
  15,660
  16,847
  18,082
  19,364
  20,697
  22,083
  23,524
Revenue / Adjusted assets
  2.062
  2.062
  2.061
  2.062
  2.061
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
  2.062
Average production assets, $m
  74
  102
  137
  180
  231
  292
  362
  443
  533
  634
  746
  867
  999
  1,140
  1,291
  1,451
  1,621
  1,799
  1,986
  2,182
  2,387
  2,600
  2,822
  3,053
  3,294
  3,543
  3,803
  4,073
  4,353
  4,645
  4,948
Working capital, $m
  507
  -55
  -74
  -97
  -125
  -157
  -195
  -239
  -288
  -342
  -402
  -468
  -539
  -615
  -696
  -783
  -874
  -970
  -1,071
  -1,177
  -1,287
  -1,402
  -1,522
  -1,646
  -1,776
  -1,911
  -2,051
  -2,196
  -2,347
  -2,504
  -2,668
Total debt, $m
  0
  15
  164
  347
  567
  826
  1,128
  1,472
  1,860
  2,292
  2,769
  3,289
  3,852
  4,457
  5,102
  5,788
  6,513
  7,276
  8,077
  8,915
  9,791
  10,703
  11,654
  12,643
  13,672
  14,741
  15,851
  17,006
  18,205
  19,453
  20,750
Total liabilities, $m
  421
  437
  586
  769
  989
  1,248
  1,550
  1,894
  2,282
  2,714
  3,191
  3,711
  4,274
  4,879
  5,524
  6,210
  6,935
  7,698
  8,499
  9,337
  10,213
  11,125
  12,076
  13,065
  14,094
  15,163
  16,273
  17,428
  18,627
  19,875
  21,172
Total equity, $m
  478
  49
  65
  85
  110
  139
  172
  210
  254
  302
  355
  412
  475
  542
  614
  690
  771
  855
  944
  1,037
  1,135
  1,236
  1,342
  1,452
  1,566
  1,685
  1,808
  1,936
  2,070
  2,208
  2,352
Total liabilities and equity, $m
  899
  486
  651
  854
  1,099
  1,387
  1,722
  2,104
  2,536
  3,016
  3,546
  4,123
  4,749
  5,421
  6,138
  6,900
  7,706
  8,553
  9,443
  10,374
  11,348
  12,361
  13,418
  14,517
  15,660
  16,848
  18,081
  19,364
  20,697
  22,083
  23,524
Debt-to-equity ratio
  0.000
  0.300
  2.520
  4.060
  5.160
  5.960
  6.550
  6.990
  7.340
  7.600
  7.810
  7.980
  8.110
  8.220
  8.310
  8.390
  8.450
  8.510
  8.550
  8.590
  8.630
  8.660
  8.690
  8.710
  8.730
  8.750
  8.770
  8.780
  8.800
  8.810
  8.820
Adjusted equity ratio
  -0.195
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -245
  -285
  -330
  -389
  -459
  -542
  -637
  -745
  -867
  -1,003
  -1,152
  -1,314
  -1,490
  -1,678
  -1,880
  -2,094
  -2,319
  -2,557
  -2,807
  -3,068
  -3,340
  -3,624
  -3,920
  -4,228
  -4,548
  -4,880
  -5,225
  -5,584
  -5,957
  -6,344
  -6,747
Depreciation, amort., depletion, $m
  50
  20
  27
  36
  46
  58
  72
  89
  107
  127
  149
  173
  200
  228
  258
  290
  324
  360
  397
  436
  477
  520
  564
  611
  659
  709
  761
  815
  871
  929
  990
Funds from operations, $m
  48
  -265
  -303
  -353
  -413
  -483
  -564
  -657
  -760
  -876
  -1,002
  -1,141
  -1,290
  -1,450
  -1,622
  -1,803
  -1,995
  -2,197
  -2,409
  -2,631
  -2,863
  -3,104
  -3,356
  -3,617
  -3,889
  -4,171
  -4,465
  -4,769
  -5,086
  -5,415
  -5,757
Change in working capital, $m
  62
  -15
  -19
  -23
  -28
  -33
  -38
  -43
  -49
  -54
  -60
  -66
  -71
  -76
  -81
  -86
  -91
  -96
  -101
  -106
  -110
  -115
  -120
  -125
  -130
  -135
  -140
  -145
  -151
  -157
  -163
Cash from operations, $m
  -14
  -250
  -284
  -330
  -385
  -451
  -527
  -613
  -712
  -821
  -942
  -1,075
  -1,219
  -1,374
  -1,540
  -1,717
  -1,904
  -2,101
  -2,308
  -2,526
  -2,752
  -2,989
  -3,236
  -3,492
  -3,759
  -4,037
  -4,325
  -4,624
  -4,935
  -5,258
  -5,594
Maintenance CAPEX, $m
  0
  -15
  -20
  -27
  -36
  -46
  -58
  -72
  -89
  -107
  -127
  -149
  -173
  -200
  -228
  -258
  -290
  -324
  -360
  -397
  -436
  -477
  -520
  -564
  -611
  -659
  -709
  -761
  -815
  -871
  -929
New CAPEX, $m
  -78
  -28
  -35
  -43
  -51
  -61
  -70
  -80
  -91
  -101
  -111
  -122
  -132
  -141
  -151
  -160
  -169
  -178
  -187
  -196
  -205
  -213
  -222
  -231
  -240
  -250
  -260
  -270
  -280
  -291
  -303
Cash from investing activities, $m
  -447
  -43
  -55
  -70
  -87
  -107
  -128
  -152
  -180
  -208
  -238
  -271
  -305
  -341
  -379
  -418
  -459
  -502
  -547
  -593
  -641
  -690
  -742
  -795
  -851
  -909
  -969
  -1,031
  -1,095
  -1,162
  -1,232
Free cash flow, $m
  -461
  -293
  -339
  -400
  -473
  -558
  -655
  -766
  -891
  -1,029
  -1,181
  -1,346
  -1,524
  -1,715
  -1,919
  -2,135
  -2,364
  -2,604
  -2,855
  -3,119
  -3,393
  -3,680
  -3,978
  -4,288
  -4,610
  -4,945
  -5,293
  -5,654
  -6,030
  -6,420
  -6,826
Issuance/(repayment) of debt, $m
  0
  15
  149
  183
  220
  260
  301
  344
  388
  432
  476
  520
  563
  605
  646
  686
  725
  763
  801
  838
  876
  913
  951
  989
  1,028
  1,069
  1,111
  1,154
  1,200
  1,247
  1,297
Issuance/(repurchase) of shares, $m
  41
  403
  347
  409
  484
  571
  670
  783
  910
  1,051
  1,205
  1,372
  1,552
  1,746
  1,952
  2,170
  2,400
  2,642
  2,896
  3,161
  3,437
  3,726
  4,026
  4,338
  4,662
  4,999
  5,349
  5,712
  6,090
  6,482
  6,891
Cash from financing (excl. dividends), $m  
  41
  418
  496
  592
  704
  831
  971
  1,127
  1,298
  1,483
  1,681
  1,892
  2,115
  2,351
  2,598
  2,856
  3,125
  3,405
  3,697
  3,999
  4,313
  4,639
  4,977
  5,327
  5,690
  6,068
  6,460
  6,866
  7,290
  7,729
  8,188
Total cash flow (excl. dividends), $m
  -421
  125
  157
  192
  231
  273
  316
  362
  408
  454
  500
  546
  591
  635
  678
  720
  761
  801
  841
  880
  919
  959
  998
  1,039
  1,080
  1,123
  1,167
  1,212
  1,260
  1,310
  1,362
Retained Cash Flow (-), $m
  85
  -403
  -347
  -409
  -484
  -571
  -670
  -783
  -910
  -1,051
  -1,205
  -1,372
  -1,552
  -1,746
  -1,952
  -2,170
  -2,400
  -2,642
  -2,896
  -3,161
  -3,437
  -3,726
  -4,026
  -4,338
  -4,662
  -4,999
  -5,349
  -5,712
  -6,090
  -6,482
  -6,891
Prev. year cash balance distribution, $m
 
  547
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  269
  -190
  -217
  -253
  -298
  -354
  -422
  -503
  -596
  -704
  -826
  -961
  -1,111
  -1,273
  -1,450
  -1,639
  -1,841
  -2,054
  -2,280
  -2,518
  -2,767
  -3,027
  -3,299
  -3,582
  -3,876
  -4,182
  -4,500
  -4,830
  -5,173
  -5,529
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  258
  -174
  -189
  -208
  -231
  -257
  -285
  -314
  -343
  -369
  -392
  -410
  -422
  -428
  -426
  -416
  -400
  -378
  -351
  -320
  -286
  -251
  -216
  -182
  -151
  -122
  -97
  -75
  -56
  -42
Current shareholders' claim on cash, %
  100
  50.0
  27.2
  15.6
  9.4
  5.8
  3.7
  2.4
  1.6
  1.1
  0.7
  0.5
  0.4
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Pure Storage, Inc. provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory. Its business model replaces the forklift upgrade cycle with an Evergreen Storage model. Its primary offerings include its FlashArray and FlashBlade products, inclusive of its Purity Operating Environment (Purity OE) software, its Pure1 cloud-based software, and FlashStack, its joint converged infrastructure solution with Cisco. Its customers include large and mid-size organizations across a diverse set of industry verticals, including cloud-based software and service providers, consumer Web, education, energy, financial services, governments, healthcare, manufacturing, media, retail and telecommunications.

FINANCIAL RATIOS  of  Pure Storage Cl A (PSTG)

Valuation Ratios
P/E Ratio -13.7
Price to Sales 4.6
Price to Book 7
Price to Tangible Book
Price to Cash Flow -239.2
Price to Free Cash Flow -36.4
Growth Rates
Sales Growth Rate 65.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 100%
Cap. Spend. - 3 Yr. Gr. Rate 45.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -27.7%
Ret/ On Assets - 3 Yr. Avg. -43.4%
Return On Total Capital -47.1%
Ret/ On T. Cap. - 3 Yr. Avg. -64.6%
Return On Equity -47.1%
Return On Equity - 3 Yr. Avg. -64.6%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 65.4%
Gross Margin - 3 Yr. Avg. 61%
EBITDA Margin -26.5%
EBITDA Margin - 3 Yr. Avg. -54.5%
Operating Margin -33.7%
Oper. Margin - 3 Yr. Avg. -61.9%
Pre-Tax Margin -33.4%
Pre-Tax Margin - 3 Yr. Avg. -62.1%
Net Profit Margin -33.7%
Net Profit Margin - 3 Yr. Avg. -62.5%
Effective Tax Rate -0.8%
Eff/ Tax Rate - 3 Yr. Avg. -0.8%
Payout Ratio 0%

PSTG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PSTG stock intrinsic value calculation we used $728 million for the last fiscal year's total revenue generated by Pure Storage Cl A. The default revenue input number comes from 2017 income statement of Pure Storage Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PSTG stock valuation model: a) initial revenue growth rate of 37.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for PSTG is calculated based on our internal credit rating of Pure Storage Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Pure Storage Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PSTG stock the variable cost ratio is equal to 111.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $163 million in the base year in the intrinsic value calculation for PSTG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Pure Storage Cl A.

Corporate tax rate of 27% is the nominal tax rate for Pure Storage Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PSTG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PSTG are equal to 10.2%.

Life of production assets of 1.5 years is the average useful life of capital assets used in Pure Storage Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PSTG is equal to -5.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $478 million for Pure Storage Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 248.161 million for Pure Storage Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Pure Storage Cl A at the current share price and the inputted number of shares is $4.1 billion.

RELATED COMPANIES Price Int.Val. Rating
DVMT Dell Technolog 81.35 128.53  str.buy
BRCD Brocade Commun 11.81 21.58  str.buy
NTAP NetApp 44.62 18.29  str.sell
WDC Western Digita 85.50 2,453.64  str.buy
IBM International 159.53 172.25  hold
STX Seagate Techno 34.26 11.15  str.sell

COMPANY NEWS

▶ Harry Boxers four stocks to watch today   [Oct-11-17 12:30PM  MarketWatch]
▶ FlashBlade wins AIconics Best Innovation in AI Hardware   [Sep-29-17 09:00AM  PR Newswire]
▶ Cramer's lightning round: My playbook for Boeing   [Aug-31-17 07:05PM  CNBC Videos]
▶ Pure Storage replaces longtime CEO with Cisco veteran Giancarlo   [04:57PM  American City Business Journals]
▶ These 5 Top Techs Near Buy Points Are Big Movers After Hours   [12:32AM  Investor's Business Daily]
▶ Pure Storage reports 2Q loss   [Aug-24-17 09:22PM  Associated Press]
▶ 3 Reasons Pure Storage Stock Was Downgraded   [Aug-14-17 02:55PM  Benzinga]
▶ Strong Stocks On A Weak Day   [Jun-15-17 03:21PM  Zacks]
▶ ETFs with exposure to Pure Storage, Inc. : June 12, 2017   [Jun-12-17 02:22PM  Capital Cube]
▶ NetApp Gets Upgrades As Quarterly Earnings Report Provides Confidence   [May-25-17 04:11PM  Investor's Business Daily]
▶ Pure Storage Earnings, Outlook Top Estimates; Stock Rises   [04:55PM  Investor's Business Daily]
▶ Pure Storage beats on top line   [04:17PM  CNBC Videos]
▶ Pure Storage reports 1Q loss   [04:14PM  Associated Press]
▶ Pure FYQ1 On Tap: All Eyes on 'FlashBlade,' NAND Costs   [May-23-17 05:28PM  Barrons.com]
▶ Why Shares of Pure Storage Are Down Today   [May-18-17 01:48PM  Motley Fool]
▶ Pure Storage Downgraded at Morgan Stanley   [10:17AM  TheStreet.com]
▶ Pure Storage Among Four Stocks Ready to Breakout   [May-02-17 10:02AM  TheStreet.com]
Financial statements of PSTG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.