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Pure Storage, Inc.（PSTG）与昆腾（QMCO）财务数据对比。点击上方公司名可切换其他公司
Pure Storage, Inc.的季度营收约是昆腾的12.9倍（$964.5M vs $74.6M）。Pure Storage, Inc.净利率更高（5.7% vs -37.3%，领先43.0%）。Pure Storage, Inc.同比增速更快（16.0% vs 2.8%）。Pure Storage, Inc.自由现金流更多（$52.6M vs $-5.6M）。过去两年Pure Storage, Inc.的营收复合增速更高（10.5% vs 2.1%）
Pure Storage是美国上市科技企业，总部位于加利福尼亚州圣克拉拉，成立于2009年，2011年正式推出自研全闪存数据存储软硬件产品，2015年上市前累计获得超4.7亿美元风险投资，营收长期保持高速增长态势。
昆腾公司是一家专注数据存储、管理与保护的科技企业，为全生命周期的视频及非结构化数据提供存储、管理、归档与保护技术服务，客户覆盖各行各业的企业、媒体娱乐公司、政府机构、数据企业以及生命科学机构。公司总部位于加利福尼亚州圣何塞，在全球多地设有分支机构。
PSTG vs QMCO — 直观对比
营收规模更大
PSTG
是对方的12.9倍
$74.6M
营收增速更快
PSTG
高出13.2%
2.8%
净利率更高
PSTG
高出43.0%
-37.3%
自由现金流更多
PSTG
多$58.2M
$-5.6M
两年增速更快
PSTG
近两年复合增速
2.1%
损益表 — Q3 2026 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $964.5M | $74.6M |
| 净利润 | $54.8M | $-27.8M |
| 毛利率 | 72.3% | 38.8% |
| 营业利润率 | 5.6% | -1.6% |
| 净利率 | 5.7% | -37.3% |
| 营收同比 | 16.0% | 2.8% |
| 净利润同比 | -13.9% | 61.0% |
| 每股收益（稀释后） | $0.16 | $-2.03 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PSTGQMCO
| Q4 25 | $964.5M | $74.6M | ||
| Q3 25 | $861.0M | $62.7M | ||
| Q2 25 | $778.5M | $64.3M | ||
| Q1 25 | $879.8M | $61.3M | ||
| Q4 24 | $831.1M | $68.7M | ||
| Q3 24 | $763.8M | $71.8M | ||
| Q2 24 | $693.5M | $72.3M | ||
| Q1 24 | $789.8M | $71.5M |
净利润PSTGQMCO
| Q4 25 | $54.8M | $-27.8M | ||
| Q3 25 | $47.1M | $-46.5M | ||
| Q2 25 | $-14.0M | $-17.2M | ||
| Q1 25 | $42.4M | $-7.7M | ||
| Q4 24 | $63.6M | $-75.3M | ||
| Q3 24 | $35.7M | $-12.2M | ||
| Q2 24 | $-35.0M | $-19.9M | ||
| Q1 24 | $65.4M | $-18.9M |
毛利率PSTGQMCO
| Q4 25 | 72.3% | 38.8% | ||
| Q3 25 | 70.2% | 37.6% | ||
| Q2 25 | 68.9% | 35.3% | ||
| Q1 25 | 67.5% | 39.6% | ||
| Q4 24 | 70.1% | 40.6% | ||
| Q3 24 | 70.7% | 42.7% | ||
| Q2 24 | 71.5% | 37.4% | ||
| Q1 24 | 72.0% | 38.2% |
营业利润率PSTGQMCO
| Q4 25 | 5.6% | -1.6% | ||
| Q3 25 | 0.6% | -13.0% | ||
| Q2 25 | -4.0% | -19.6% | ||
| Q1 25 | 4.8% | -18.9% | ||
| Q4 24 | 7.2% | -11.3% | ||
| Q3 24 | 3.3% | -7.7% | ||
| Q2 24 | -6.0% | -23.3% | ||
| Q1 24 | 7.3% | -19.3% |
净利率PSTGQMCO
| Q4 25 | 5.7% | -37.3% | ||
| Q3 25 | 5.5% | -74.1% | ||
| Q2 25 | -1.8% | -26.8% | ||
| Q1 25 | 4.8% | -12.6% | ||
| Q4 24 | 7.7% | -109.6% | ||
| Q3 24 | 4.7% | -16.9% | ||
| Q2 24 | -5.0% | -27.5% | ||
| Q1 24 | 8.3% | -26.5% |
每股收益（稀释后）PSTGQMCO
| Q4 25 | $0.16 | $-2.03 | ||
| Q3 25 | $0.14 | $-3.49 | ||
| Q2 25 | $-0.04 | $-1.87 | ||
| Q1 25 | $0.13 | $-0.31 | ||
| Q4 24 | $0.19 | $-15.35 | ||
| Q3 24 | $0.10 | $-2.54 | ||
| Q2 24 | $-0.11 | $-4.15 | ||
| Q1 24 | $0.22 | $-5.80 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $852.8M | $13.2M |
| 总债务越低越好 | — | $75.9M |
| 股东权益账面价值 | $1.4B | $-184.2M |
| 总资产 | $4.2B | $149.3M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PSTGQMCO
| Q4 25 | $852.8M | $13.2M | ||
| Q3 25 | $887.8M | $14.7M | ||
| Q2 25 | $739.3M | $37.4M | ||
| Q1 25 | $723.6M | $16.5M | ||
| Q4 24 | $894.6M | $20.4M | ||
| Q3 24 | $965.0M | $16.7M | ||
| Q2 24 | $900.6M | $17.3M | ||
| Q1 24 | $702.5M | $25.7M |
总债务PSTGQMCO
| Q4 25 | — | $75.9M | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $123.0M | ||
| Q2 24 | — | $100.9M | ||
| Q1 24 | — | $0 |
股东权益PSTGQMCO
| Q4 25 | $1.4B | $-184.2M | ||
| Q3 25 | $1.3B | $-160.5M | ||
| Q2 25 | $1.2B | $-114.4M | ||
| Q1 25 | $1.3B | $-164.4M | ||
| Q4 24 | $1.4B | $-196.6M | ||
| Q3 24 | $1.5B | $-151.1M | ||
| Q2 24 | $1.4B | $-140.3M | ||
| Q1 24 | $1.3B | $-121.5M |
总资产PSTGQMCO
| Q4 25 | $4.2B | $149.3M | ||
| Q3 25 | $4.0B | $137.7M | ||
| Q2 25 | $3.8B | $169.2M | ||
| Q1 25 | $4.0B | $155.4M | ||
| Q4 24 | $3.9B | $168.1M | ||
| Q3 24 | $3.8B | $163.1M | ||
| Q2 24 | $3.6B | $173.1M | ||
| Q1 24 | $3.7B | $187.6M |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $116.0M | $-4.9M |
| 自由现金流经营现金流 - 资本支出 | $52.6M | $-5.6M |
| 自由现金流率自由现金流/营收 | 5.5% | -7.5% |
| 资本支出强度资本支出/营收 | 6.6% | 0.9% |
| 现金转化率经营现金流/净利润 | 2.12× | — |
| 过去12个月自由现金流最近4个季度 | $566.7M | $-43.6M |
8季度趋势，按日历期对齐
经营现金流PSTGQMCO
| Q4 25 | $116.0M | $-4.9M | ||
| Q3 25 | $212.2M | $-15.6M | ||
| Q2 25 | $283.9M | $-16.9M | ||
| Q1 25 | $208.5M | $-3.3M | ||
| Q4 24 | $97.0M | $-3.2M | ||
| Q3 24 | $226.6M | $-15.3M | ||
| Q2 24 | $221.5M | $-1.9M | ||
| Q1 24 | $244.4M | $10.6M |
自由现金流PSTGQMCO
| Q4 25 | $52.6M | $-5.6M | ||
| Q3 25 | $150.1M | $-16.0M | ||
| Q2 25 | $211.6M | $-18.1M | ||
| Q1 25 | $152.4M | $-3.9M | ||
| Q4 24 | $35.2M | $-4.2M | ||
| Q3 24 | $166.6M | $-16.9M | ||
| Q2 24 | $172.7M | $-3.5M | ||
| Q1 24 | $200.9M | $9.7M |
自由现金流率PSTGQMCO
| Q4 25 | 5.5% | -7.5% | ||
| Q3 25 | 17.4% | -25.5% | ||
| Q2 25 | 27.2% | -28.1% | ||
| Q1 25 | 17.3% | -6.4% | ||
| Q4 24 | 4.2% | -6.2% | ||
| Q3 24 | 21.8% | -23.5% | ||
| Q2 24 | 24.9% | -4.9% | ||
| Q1 24 | 25.4% | 13.6% |
资本支出强度PSTGQMCO
| Q4 25 | 6.6% | 0.9% | ||
| Q3 25 | 7.2% | 0.7% | ||
| Q2 25 | 9.3% | 1.9% | ||
| Q1 25 | 6.4% | 1.0% | ||
| Q4 24 | 7.4% | 1.6% | ||
| Q3 24 | 7.9% | 2.2% | ||
| Q2 24 | 7.0% | 2.2% | ||
| Q1 24 | 5.5% | 1.2% |
现金转化率PSTGQMCO
| Q4 25 | 2.12× | — | ||
| Q3 25 | 4.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 4.91× | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 6.35× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.74× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PSTG
| US | $683.2M | 71% |
| Non Us | $281.3M | 29% |
QMCO
| Secondary Storage Systems | $30.6M | 41% |
| Service And Subscriptions | $26.5M | 36% |
| Primary Storage Systems | $10.1M | 14% |
| Subscriptions | $4.4M | 6% |
| Royalty | $1.6M | 2% |
