In the fast-evolving technology sector, Pure Storage, Inc. (PSTG) and Quantum Computing, Inc. (QUBT) represent two intriguing players reshaping the future of computing hardware. Pure Storage leads in advanced data storage solutions, while Quantum Computing pioneers quantum software and applications. Their overlapping focus on cutting-edge innovation makes this comparison essential. Join me as we analyze which company offers the most compelling investment opportunity in 2026.
Table of contents
Companies Overview
I will begin the comparison between Pure Storage and Quantum Computing by providing an overview of these two companies and their main differences.
Pure Storage Overview
Pure Storage, Inc. specializes in data storage technologies, offering a range of products and services including enterprise-class data services through its Purity software. Its portfolio features FlashArray for block storage, FlashBlade for unstructured data, and AI-ready infrastructure solutions. Headquartered in Santa Clara, California, Pure Storage serves global markets with direct sales and channel partners, emphasizing data reduction, protection, and cloud-native management.
Quantum Computing Overview
Quantum Computing, Inc. develops software tools and applications designed for quantum computing, focusing on quantum application acceleration and multi-quantum processing units. Based in Leesburg, Virginia, the company targets commercial and government clients, enabling developers to build quantum-ready applications executable on both conventional and quantum computers. It is a smaller firm with a niche focus in the emerging quantum computing sector.
Key similarities and differences
Both companies operate in the technology sector within the computer hardware industry but serve distinct market segments. Pure Storage focuses on data storage infrastructure and enterprise solutions with a broad product range, while Quantum Computing specializes in quantum computing software and hardware facilitation. Pure Storage has a significantly larger market capitalization and workforce, whereas Quantum Computing is more concentrated on developing quantum application tools for specialized clients.
Income Statement Comparison
The table below compares the key income statement metrics of Pure Storage, Inc. and Quantum Computing, Inc. for their most recent fiscal years, providing a snapshot of their financial performance.
| Metric | Pure Storage, Inc. (PSTG) | Quantum Computing, Inc. (QUBT) |
|---|---|---|
| Market Cap | 24.7B | 1.6B |
| Revenue | 3.17B | 373K |
| EBITDA | 282M | -62.2M |
| EBIT | 156M | -66.0M |
| Net Income | 107M | -68.5M |
| EPS | 0.33 | -0.73 |
| Fiscal Year | 2025 | 2024 |
Income Statement Interpretations
Pure Storage, Inc.
Pure Storage shows a strong upward trend in revenue, growing 88.11% from 2021 to 2025, with net income rising 137.84% over the same period. Gross margin remains favorable at nearly 70%, indicating efficient cost management. The 2025 fiscal year saw revenue grow 11.92%, net margin improve by 55.55%, and EPS increase by 63.16%, reflecting robust operational gains and margin expansion.
Quantum Computing, Inc.
Quantum Computing’s revenue has remained very low, with minimal growth of 4.19% in 2024 after several years of near stagnation. Margins are deeply negative, with gross margin at -988% and net margin at -18,375%, highlighting heavy losses. The 2024 year worsened in profitability, with net income declining sharply and EBIT margin also deteriorating, despite slight revenue growth.
Which one has the stronger fundamentals?
Pure Storage presents stronger fundamentals with consistent revenue and net income growth, favorable margins, and improving profitability metrics. Conversely, Quantum Computing suffers from persistent negative margins, substantial net losses, and unfavorable income statement trends. The overall income statement evaluation favors Pure Storage for its stable and improving financial performance.
Financial Ratios Comparison
The following table provides a side-by-side comparison of key financial ratios for Pure Storage, Inc. (PSTG) and Quantum Computing, Inc. (QUBT) based on their most recent fiscal year data.
| Ratios | Pure Storage, Inc. (2025) | Quantum Computing, Inc. (2024) |
|---|---|---|
| ROE | 8.17% | -63.89% |
| ROIC | 2.45% | -17.41% |
| P/E | 206.9 | -22.67 |
| P/B | 16.90 | 14.48 |
| Current Ratio | 1.61 | 17.36 |
| Quick Ratio | 1.58 | 17.36 |
| D/E | 0.22 | 0.01 |
| Debt-to-Assets | 7.09% | 0.77% |
| Interest Coverage | 10.91 | -10.39 |
| Asset Turnover | 0.80 | 0.0024 |
| Fixed Asset Turnover | 5.21 | 0.038 |
| Payout ratio | 0 | -0.31% |
| Dividend yield | 0 | 0.014% |
Interpretation of the Ratios
Pure Storage, Inc.
Pure Storage shows a mixed financial profile with roughly 43% favorable and 43% unfavorable ratios, resulting in a neutral overall evaluation. Key strengths include a solid current ratio of 1.61, low debt-to-equity at 0.22, and strong interest coverage near 20 times. However, profitability metrics like ROE (8.17%) and net margin (3.37%) are weak. The company does not pay dividends, which may reflect reinvestment in growth and technology given its sector.
Quantum Computing, Inc.
Quantum Computing exhibits predominantly unfavorable ratios, with over 71% negative signals and only 29% favorable, leading to an overall unfavorable assessment. The company suffers from significant losses, negative ROE (-63.89%), and poor asset turnover. Despite a very high current ratio (17.36), it indicates inefficiency in asset use. Quantum Computing also does not pay dividends, likely due to ongoing substantial R&D expenses and a high-growth phase.
Which one has the best ratios?
Between the two, Pure Storage maintains a more balanced ratio profile with several favorable liquidity and leverage indicators, while Quantum Computing’s ratios predominantly signal financial distress and operational inefficiency. Pure Storage’s neutral rating contrasts with Quantum Computing’s unfavorable evaluation, suggesting relatively stronger financial health in Pure Storage’s metrics.
Strategic Positioning
This section compares the strategic positioning of Pure Storage and Quantum Computing, including Market position, Key segments, and exposure to disruption:
Pure Storage, Inc.
- Established player in computer hardware with $24.7B market cap, facing moderate pressure.
- Focus on data storage products and services, including flash arrays and AI-ready infrastructure.
- Exposure involves evolving data storage technologies with cloud and AI integration.
Quantum Computing, Inc.
- Smaller firm with $1.6B market cap in computer hardware, likely facing high pressure.
- Provides quantum software tools and quantum processing units targeting commercial and government sectors.
- Positioned in emerging quantum computing technology, subject to high disruption risk.
Pure Storage vs Quantum Computing Positioning
Pure Storage operates in diversified segments spanning products and services with a large workforce, while Quantum Computing is concentrated on quantum software and hardware with a small team. Pure Storage benefits from scale but faces mature market challenges; Quantum Computing targets a niche high-tech field with growth potential but higher uncertainty.
Which has the best competitive advantage?
Both companies show slightly unfavorable MOAT evaluations, shedding value but with improving profitability. Pure Storage’s larger scale and diversified offerings contrast with Quantum Computing’s niche focus; neither currently demonstrates a strong sustainable competitive advantage.
Stock Comparison
The stock price movements over the past year reveal significant gains for both Pure Storage, Inc. and Quantum Computing, Inc., with notable deceleration in momentum and recent downward pressure in trading dynamics.
Trend Analysis
Pure Storage, Inc. (PSTG) exhibited a bullish trend over the past 12 months with an 85.88% price increase but showed deceleration and a recent 23.6% decline from November 2025 to January 2026. Quantum Computing, Inc. (QUBT) recorded a strong bullish trend with a 1362.9% rise over the same period, also decelerating and facing a 30.04% drop recently. Comparing both, QUBT delivered a substantially higher market performance despite similar recent downward trends.
Target Prices
The consensus target prices for Pure Storage, Inc. and Quantum Computing, Inc. indicate varied analyst expectations.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Pure Storage, Inc. | 105 | 60 | 91.15 |
| Quantum Computing, Inc. | 40 | 10 | 19.5 |
Analysts expect Pure Storage’s stock to appreciate significantly from its current price of 75.41 USD, while Quantum Computing’s consensus target of 19.5 USD suggests potential upside from its 11.69 USD price point.
Analyst Opinions Comparison
This section compares analysts’ ratings and grades for Pure Storage, Inc. and Quantum Computing, Inc.:
Rating Comparison
Pure Storage, Inc. Rating
- Rating: B-, classified as Very Favorable
- Discounted Cash Flow Score: 3, Moderate status
- ROE Score: 3, Moderate status
- ROA Score: 3, Moderate status
- Debt To Equity Score: 3, Moderate status
- Overall Score: 2, Moderate status
Quantum Computing, Inc. Rating
- Rating: C+, classified as Very Favorable
- Discounted Cash Flow Score: 2, Moderate status
- ROE Score: 1, Very Unfavorable status
- ROA Score: 1, Very Unfavorable status
- Debt To Equity Score: 5, Very Favorable status
- Overall Score: 2, Moderate status
Which one is the best rated?
Based strictly on the data, Pure Storage, Inc. holds a higher rating of B- compared to Quantum Computing, Inc.’s C+. Pure Storage shows stronger scores in ROE and ROA, while Quantum excels in debt to equity management. Overall scores are equal.
Scores Comparison
Here is the comparison of the Altman Z-Score and Piotroski Score for Pure Storage, Inc. and Quantum Computing, Inc.:
Pure Storage, Inc. Scores
- Altman Z-Score: 5.91, indicating a safe zone with low bankruptcy risk.
- Piotroski Score: 5, indicating average financial strength.
Quantum Computing, Inc. Scores
- Altman Z-Score: 50.17, indicating a safe zone with very low bankruptcy risk.
- Piotroski Score: 4, indicating average financial strength.
Which company has the best scores?
Quantum Computing, Inc. has a significantly higher Altman Z-Score, indicating stronger financial stability, while both companies show average Piotroski Scores. Based on these scores alone, Quantum Computing, Inc. demonstrates the best scores.
Grades Comparison
Here is a comparison of the latest reliable grades assigned to Pure Storage, Inc. and Quantum Computing, Inc.:
Pure Storage, Inc. Grades
The table below summarizes the most recent ratings from recognized financial institutions for Pure Storage, Inc.:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| UBS | Maintain | Sell | 2025-12-03 |
| Barclays | Maintain | Equal Weight | 2025-12-03 |
| Needham | Maintain | Buy | 2025-12-03 |
| Susquehanna | Downgrade | Neutral | 2025-12-03 |
| JP Morgan | Maintain | Overweight | 2025-12-03 |
| Citigroup | Maintain | Buy | 2025-12-03 |
| Wedbush | Maintain | Outperform | 2025-12-03 |
| Lake Street | Maintain | Buy | 2025-12-03 |
| JP Morgan | Maintain | Overweight | 2025-11-17 |
| Morgan Stanley | Maintain | Equal Weight | 2025-11-17 |
Overall, Pure Storage has a mixed rating trend, with several “Buy” and “Overweight” grades balanced by some “Sell” and “Neutral” ratings, indicating diverse analyst perspectives.
Quantum Computing, Inc. Grades
Below are the latest grades for Quantum Computing, Inc. from recognized grading firms:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Ascendiant Capital | Maintain | Buy | 2025-12-22 |
| Cantor Fitzgerald | Maintain | Neutral | 2025-12-18 |
| Lake Street | Maintain | Buy | 2025-11-17 |
| Ascendiant Capital | Maintain | Buy | 2025-10-03 |
| Ascendiant Capital | Maintain | Buy | 2025-06-06 |
| Ascendiant Capital | Maintain | Buy | 2025-04-28 |
| Ascendiant Capital | Maintain | Buy | 2024-11-13 |
| Ascendiant Capital | Maintain | Buy | 2023-11-24 |
Quantum Computing shows a consistent “Buy” consensus with a single “Neutral” rating, reflecting confidence from most analysts.
Which company has the best grades?
Quantum Computing, Inc. has received more consistent “Buy” ratings compared to Pure Storage, Inc., which has a broader range of opinions including some “Sell” grades. This pattern may affect investor sentiment and perceived risk differently for each stock.
Strengths and Weaknesses
Below is a comparison of key strengths and weaknesses for Pure Storage, Inc. (PSTG) and Quantum Computing, Inc. (QUBT) based on the most recent data available.
| Criterion | Pure Storage, Inc. (PSTG) | Quantum Computing, Inc. (QUBT) |
|---|---|---|
| Diversification | Moderate: Balanced product (1.7B) and service (1.5B) revenues | Low: Primarily services, limited revenue scale (346K) |
| Profitability | Low but improving: ROIC 2.45% (unfavorable), growing trend | Negative: ROIC -17.41%, significant losses but improving |
| Innovation | Strong in storage tech innovation | Emerging in quantum computing, high risk and potential |
| Global presence | Established with solid customer base | Limited, early-stage market penetration |
| Market Share | Significant in data storage market | Minimal, niche early-stage technology |
Key takeaways: Pure Storage shows balanced revenue streams and improving profitability, though margins remain thin. Quantum Computing remains in a nascent phase with heavy losses but promising growth potential. Investors should weigh Pure Storage’s stability against Quantum Computing’s high-risk, high-reward profile.
Risk Analysis
Below is a comparative overview of key risks for Pure Storage, Inc. (PSTG) and Quantum Computing, Inc. (QUBT) based on the most recent data available for 2025 and 2024 respectively.
| Metric | Pure Storage, Inc. (PSTG) | Quantum Computing, Inc. (QUBT) |
|---|---|---|
| Market Risk | Beta 1.26 – moderate market volatility exposure | Beta 3.49 – high market volatility exposure |
| Debt level | Low debt-to-equity 0.22 – favorable leverage | Very low debt-to-equity 0.01 – minimal leverage |
| Regulatory Risk | Moderate – tech hardware sector compliance | Elevated – emerging quantum tech regulations uncertain |
| Operational Risk | Medium – established operations, 6K employees | High – small team (41 employees), early-stage tech |
| Environmental Risk | Moderate – standard industry impact | Low – software focus, limited physical footprint |
| Geopolitical Risk | Moderate – global sales exposure | Moderate – reliance on US government contracts |
Synthesis: Quantum Computing faces the most impactful risks due to its high market volatility (beta 3.49), unfavorable profitability metrics, and regulatory uncertainty in the nascent quantum computing field. Pure Storage shows moderate market risk but benefits from stronger financial health and operational stability. Investors should weigh QUBT’s growth potential against its elevated risk profile.
Which Stock to Choose?
Pure Storage, Inc. (PSTG) shows a favorable income evolution with strong revenue and net income growth over 2021-2025. Its financial ratios reflect a balanced profile with solid liquidity and manageable debt, though profitability ratios remain moderate. The company holds a very favorable B- rating.
Quantum Computing, Inc. (QUBT) experiences a challenging income evolution marked by significant negative margins and declining profitability. Its financial ratios signal weaknesses with high debt efficiency but many unfavorable indicators. Despite this, it carries a very favorable C+ rating, supported by a safe zone Altman Z-score.
For investors, PSTG’s favorable income growth and balanced financial structure might appeal to those seeking quality and moderate risk, while QUBT’s high volatility and improving profitability trend could be interpreted as suitable for risk-tolerant investors focused on growth potential. Both companies show value destruction but improving profitability, suggesting different profiles for consideration.
Disclaimer: Investment carries a risk of loss of initial capital. The past performance is not a reliable indicator of future results. Be sure to understand risks before making an investment decision.
Go Further
I encourage you to read the complete analyses of Pure Storage, Inc. and Quantum Computing, Inc. to enhance your investment decisions:
