What is Pure Storage's Evergreen model?

Evergreen is Pure Storage's subscription-based model that allows customers to continuously upgrade storage hardware without disruptive forklift replacements, driving recurring revenue and customer retention.

Which company is larger?

NetApp is the larger and more established of the two companies, with a longer operating history and broader enterprise customer base, while Pure Storage is smaller but has grown faster in recent years.

What is each company's competitive advantage?

NetApp's advantage lies in its deep hybrid and public cloud integrations, while Pure Storage's advantage is its pure-play all-flash architecture and subscription-based, non-disruptive upgrade model.

brimindinvest.com / compare / ntap-vs-pureLIVE

NTAP

NetApp, Inc. · Information Technology - Data Storage

$159.71

+32.44% this month

VERSUS

⟷

COMPARE

PSTG

Pure Storage, Inc. · Information Technology - Data Storage

N/A

N/A this month

Scoreboard verdict

Across AI score, momentum, valuation, upside, operating margin

NTAP

1

PSTG

0

NTAP LEADS 1/5

Comparison scoreboard

NTAP LEADS 1/5

AI Score

NTAP ✓62.7

PSTG 56.0

1Y Return

NTAP +54.76%

PSTG N/A

Fwd P/E

NTAP 16.39

PSTG N/A

Target Up.

NTAP +6.27%

PSTG N/A

Op. Margin

NTAP 27.26%

PSTG N/A

Metrics last refreshed: 6/20/2026

Quick take

NTAP vs PSTG Stock Comparison: AI Score, Valuation, Performance and Upside

NTAP offers a more established, diversified hybrid cloud storage business with strong public cloud integrations, while PSTG is a faster-growing, pure-play all-flash storage innovator increasingly winning AI infrastructure and hyperscaler deals through its subscription model. Both compete in the all-flash storage transition but with different scale and growth profiles.

NTAP vs PSTG contrasts an established, diversified hybrid cloud storage leader against a faster-growing, innovation-focused all-flash storage pure-play increasingly tied to AI infrastructure demand.

Live analysis · updated 6/20/2026

NTAP holds the edge across 1 of 5 key metrics in this comparison.

Normalized 1Y performance

NTAP

PSTG

Not enough data to chart yet.

Recent returns

NTAP

PSTG

Analyst price targets & sentiment

NTAP

Price target range

analyst mean$171.75
current price$159.71

+6.3% upside to analyst mean

PSTG

Price target data unavailable

N/A

Who should consider this stock?

NTAP may suit investors who:

→Want exposure to an established, diversified hybrid cloud storage leader
→Value NetApp's deep public cloud platform integrations
→Prefer a more mature, lower-volatility storage company

PSTG may suit investors who:

→Want exposure to a faster-growing, pure-play all-flash storage innovator
→Believe AI infrastructure demand will drive continued large storage deals
→Value Pure Storage's subscription-based recurring revenue model

Performance & AI score

Metric	NTAP	PSTG
AI score	62.7	56.0
AI rank	#92	#242
Latest close	$159.71	N/A
1M return	+32.44%	N/A
6M return	+43.93%	N/A
1Y return	+54.76%	N/A

$10,000 invested — hypothetical growth (dividends reinvested)

How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?

Period	NTAP	PSTG
1Y ago	$15.54K (+55.4%) started 2025-06-18	N/A
5Y ago	$24.56K (+145.6%) started 2021-06-21	N/A
10Y ago	$103.07K (+930.7%) started 2016-06-20	N/A

Hypothetical — past performance does not guarantee future results.

Valuation & upside potential

Metric	NTAP	PSTG
Market cap	$31.66B	N/A
Trailing P/E	25.45	N/A
Forward P/E	16.39	N/A
Price/Sales	N/A	6.12
EV/Revenue	4.45	N/A
Analyst target	$171.75	N/A
Target upside	+6.27%	N/A

Growth, profitability & risk

Metric	NTAP	PSTG
Revenue growth	12.50%	N/A
Earnings growth	23.40%	N/A
EPS growth	+23.40%	N/A
FCF margin	+18.70%	N/A
Operating margin	27.26%	N/A
Profit margin	18.43%	N/A
ROIC proxy	106.73%	N/A
Return on equity	106.73%	N/A
Dividend yield	1.29%	N/A
Beta	1.43	1.46
Debt/equity	202.29	N/A
Current ratio	1.44	N/A
Quick ratio	1.21	N/A

Drawdown & downside risk

Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.

1Y risk snapshot

NTAP max drawdown25.52%

PSTG max drawdownN/A

NTAP max wkly drop12.07%

PSTG max wkly dropN/A

5Y risk snapshot

NTAP max drawdown42.61%

PSTG max drawdownN/A

NTAP max wkly drop23.79%

PSTG max wkly dropN/A

10Y risk snapshot

NTAP max drawdown58.08%

PSTG max drawdownN/A

NTAP max wkly drop23.79%

PSTG max wkly dropN/A

Performance metrics by period

Period	Metric	NTAP	PSTG
1Y	Growth	+55.44%	N/A
	CAGR	+55.53%	N/A
	Sharpe ratio	1.18	N/A
	Max drawdown	25.52%	N/A
	Max daily drop	9.37%	N/A
	Max wkly drop	12.07%	N/A
5Y	Growth	+121.70%	N/A
	CAGR	+17.29%	N/A
	Sharpe ratio	0.51	N/A
	Max drawdown	42.61%	N/A
	Max daily drop	15.57%	N/A
	Max wkly drop	23.79%	N/A
10Y	Growth	+695.55%	N/A
	CAGR	+23.06%	N/A
	Sharpe ratio	0.63	N/A
	Max drawdown	58.08%	N/A
	Max daily drop	20.22%	N/A
	Max wkly drop	23.79%	N/A

Business comparison

Category	NTAP	PSTG
Company	NetApp, Inc.	Pure Storage, Inc.
Sector	Technology	Information Technology - Data Storage
Industry	N/A	N/A
Core business	NetApp provides enterprise data storage and management solutions, including hybrid cloud storage that spans on-premises and major public cloud platforms, with growing all-flash array adoption.	Pure Storage is a pure-play all-flash data storage company, providing high-performance flash storage arrays and a storage-as-a-service subscription model to enterprise customers, including AI infrastructure workloads.
Investor focus	Investors track NetApp's all-flash array revenue growth, hybrid cloud and public cloud storage services growth, and operating margin expansion.	Investors track Pure Storage's subscription services revenue growth, large AI and hyperscaler customer wins, and its differentiated Evergreen non-disruptive upgrade model.

NTAP strengths

→Strong hybrid cloud storage positioning with native integrations across AWS, Azure, and Google Cloud
→Growing all-flash array portfolio competing effectively against newer entrants
→Established enterprise customer relationships and channel partnerships

PSTG strengths

→Pure-play, all-flash storage architecture provides performance advantages
→Subscription-based Evergreen model drives recurring revenue and customer loyalty
→Growing traction with AI infrastructure and large hyperscaler storage deals

Risks to watch — NTAP

→Faces intensifying competition from newer, faster-growing all-flash storage vendors
→Legacy hard-disk-based storage products face ongoing secular decline
→Public cloud hyperscalers' native storage offerings compete with NetApp's hybrid cloud value proposition

Risks to watch — PSTG

→Smaller scale than NetApp limits some enterprise relationship and channel advantages
→Storage hardware pricing faces ongoing competitive and cost pressure
→Large customer concentration risk in emerging hyperscaler and AI deals

Frequently asked questions

Pure Storage has been highlighting growing traction with AI infrastructure and large hyperscaler storage deals, positioning it as more directly tied to this emerging growth driver, though NetApp also serves AI-related storage workloads.

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