Everpure, Inc PSTG
Everpure (PSTG) continues to execute well, with FY2026 revenue of $3.66B growing 15.6% yoy, net income up 76.3%, and FCF of $616M at a 16.8% margin—but the stock trades at 126x trailing earnings versus a peer median of 29x and 68x EV/EBITDA versus a 19x peer median, embedding enormous expectations. AI-driven hyperscaler demand and recent price increases of up to 40% are real tailwinds, but smart money inflows remain modest (score 0.0292 as of 2026-06-30) and the stock sits below its 200-day MA at $74.61, suggesting the market has not fully validated the growth re-acceleration narrative.
The risk/reward remains balanced; strong execution is already priced in.
What could go wrong
- Valuation compression. At 126x PE versus a peer median of 29x and EV/EBITDA of 68x versus 19x, any deceleration in revenue growth or margin expansion could trigger a sharp de-rating.
- Hyperscaler capex cyclicality. Much of the growth thesis rests on AI-driven hyperscaler demand; any pause or digestion period in hyperscaler capex would hit the top line hard.
- Operating margin thinness. Despite a 70.4% gross margin, operating margin is only 3.1% in FY2026, leaving little room for cost surprises before profitability disappoints.
- Technical weakness. Stock trades below its 200-day MA of $75.88 with a negative MACD histogram, indicating waning momentum that could precede further downside.
What would change my mind
Where this comes from: FMP annual fundamentals + derived_metrics, fiscal year ended 2026-02-01 · FMP annual fundamentals + derived_metrics, fiscal year ended 2026-02-01 · peer_relative table, as of latest available data · smart_money points, as of 2026-06-30. Orin's read on PSTG; not advice.
Twelve months actual closes to 2026-04-17 · actual filings
50-day average 200-day average · volume below
On file
All PSTG filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| Fmr | $3.9B | 0.2% of fund |
| Brasada Capital Management | $1.8B | 0.3% of fund |
| Vanguard Portfolio Management | $1.3B | 0.1% of fund |
| Vanguard Capital Management | $1.1B | 0.0% of fund |
| State Street | $921.4M | 0.0% of fund |
| Geode Capital Management | $666.1M | 0.0% of fund |
91 filers · quarter ended Q2 2026 · positions, not flows
Ask Orin about PSTG
Orin answers questions about PSTG from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →Where it trades
| Metric | Now | Own median | Sector |
|---|---|---|---|
| P/E | 126.3× | — | 53.3× |
| EV/EBITDA | 84.8× | — | — |
| P/S | 7.24× | — | — |
19.1%
free-cash-flow growth every year for 10 years, discounted at 10%, is what today’s price implies — starting from $0.6B of trailing free cash flow. It is an assumption the market is making, not a forecast Orin is making.
What Wall Street published
$87
$87 – $87 · +1% against today's price
- 24 buy or overweight
- 7 hold
- 1 underweight or sell
The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.
Against the companies it is compared to
| Company | Market cap | P/E | EV/EBITDA | Gross | Net | ROE |
|---|---|---|---|---|---|---|
| PSTGEverpure, Inc | $28B | 126.3× | 84.8× | 70.2% | 5.7% | 21% |
| ALABAstera Labs, Inc. Common Stock | $62B | 166.1× | 184.7× | 75.1% | 30.7% | 25% |
| CRDOCredo Technology Group Holding Ltd | $37B | 66.4× | 63.4× | 67.1% | 33.8% | 27% |
| FISFidelity National Information Services, Inc. | $18B | 5.4× | 6.3× | 37.1% | 27.2% | 23% |
| HPEHewlett Packard Enterprise Company | $84B | 31.6× | 17.3× | 36.0% | 6.6% | 11% |
| HPQHP Inc. | $28B | 11.8× | 9.2× | 19.8% | 4.1% | -727% |
| KEYSKeysight Technologies, Inc. | $61B | 49.2× | 35.7× | 64.7% | 19.1% | 20% |
| NTAPNetApp, Inc. | $39B | 27.5× | 18.5× | 70.6% | 19.2% | 114% |
| SMCISuper Micro Computer, Inc. | $27B | 11.4× | 8.6× | 10.8% | 5.7% | 25% |
| SNDKSandisk Corporation | $260B | 22.5× | 19.5× | 71.5% | 56.5% | 93% |
The median is of the 9 peers listed above and nothing else — check it against the column. This company trades 359.7% above it. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.
What it has traded at
What its sector has traded at
Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.
Every estimate on one scale
The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.