Seagate Technology Holdings plc
Financial Performance
Seagate Revenue & Financials
Revenue
$12.2B (FY2026)
Market Cap
$195.3B
Net Income
$3.2B
Employees
30,000
What is Seagate's revenue?
Seagate had $12.2B in revenue for fiscal year 2026, up 34.1% from 2025. Net income was $3.2B.
- Latest revenue
- $12.2B (FY2026)
- Year-over-year
- +34.1%
- Growth rate (CAGR)
- 1.4% over 9 years
- Peak revenue
- $12.2B (FY2026)
- Years of data
- 10
- Employees
- 30,000
- What is Seagate's operating income?
- Seagate reported operating income of $4.1B for fiscal year 2026. sec.gov
- How much profit does Seagate make?
- Seagate reported net income of $3.2B for fiscal year 2026. investors.seagate.com
- How many employees does Seagate have?
- Seagate has about 30,000 employees.
Financial Analysis
Seagate's results swing with cloud spending. Revenue fell from $11.66 billion in fiscal 2022 to $6.55 billion in fiscal 2024 during a cloud inventory correction, then recovered to $9.10 billion in fiscal 2025 and $12.20 billion in fiscal 2026. Margins expanded faster than sales: GAAP gross margin went from 35.2% in fiscal 2025 to 45.6% in fiscal 2026 and reached 52.3% in fiscal Q4 2026 as HAMR drives and firm pricing raised revenue per terabyte. Seagate used the cash to cut total debt to $3.6 billion and returned $810 million to shareholders in fiscal 2026. Seagate Technology Holdings plc is a colossal American data storage company and a global pioneer in hard disk drives (HDDs), maintaining a market valuation generally exceeding $20 billion.
Revenue Trend Analysis
YoY Change
+34.1%
9-Year CAGR
+1.4%
Peak Year
2026
Trend
Mostly Growing
Seagate Technology Holdings plc has 10 full fiscal year figures on this page, compounding at +1.4% annually over 9 years. The most recent year saw a 34.1% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at $12.2B. Of 9 comparable year-over-year steps, 6 showed growth and 3 showed a decline.
Annual revenue history
Click any row to see year details.
Seagate Technology Holdings plc balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2026ended Jul 3, 2026 | $3.7B | $569M | $10B | $7.8B | $2.2B | $3.1B | Form 10-K |
| FY2025ended Jun 27, 2025 | $1.1B | $265M | $8B | $8.5B | -$453M | $818M | Form 10-K |
| FY2024ended Jun 28, 2024 | $918M | $254M | $7.7B | $9.2B | -$1.5B | $664M | Form 10-K |
| FY2023ended Jun 30, 2023 | $942M | $316M | $7.6B | $8.8B | -$1.2B | $626M | Form 10-K |
| FY2022ended Jul 1, 2022 | $1.7B | $381M | $8.9B | $8.8B | $109M | $1.3B | Form 10-K |
| FY2021ended Jul 2, 2021 | $1.6B | $498M | $8.7B | $8B | $631M | $1.1B | Form 10-K |
| FY2020ended Jul 3, 2020 | $1.7B | $585M | $8.9B | $7.1B | $1.8B | $1.1B | Form 10-K |
| FY2019ended Jun 28, 2019 | $1.8B | $602M | $8.9B | $6.7B | $2.2B | $1.2B | Form 10-K |
| FY2018ended Jun 29, 2018 | $2.1B | $366M | $9.4B | $7.7B | $1.7B | $1.7B | Form 10-K |
| FY2017ended Jun 30, 2017 | $1.9B | $434M | $9.3B | $7.9B | $1.4B | $1.5B | Form 10-K |
Keep researching Seagate
Seagate Revenue and Financial FAQ
What is Seagate Technology's stock symbol and exchange?
Seagate Technology Holdings plc trades on the NASDAQ Global Select Market under the ticker symbol "STX".
What is Seagate's annual revenue scale across market cycles?
Seagate's annual revenue fluctuates between $6.5 billion during severe cloud capex downturns (such as fiscal 2024 at $6.55B) and $11.6 billion during peak cloud expansion cycles (such as fiscal 2022 at $11.66B), rebounding with AI storage demand.
How much does Seagate Technology pay in quarterly dividends?
Seagate pays a regular quarterly cash dividend of $0.70 per share ($2.80 annualized), representing a consistent dividend yield typically ranging between 3.0% and 4.5%, reflecting management's commitment to shareholder cash returns.
How many exabytes of storage does Seagate ship annually?
In favorable cloud demand years, Seagate ships between 400 and 600 exabytes of total mass-capacity storage, with mass-capacity drives representing over 85% of total exabytes shipped.
What is Seagate's target gross margin and operating margin?
Seagate targets non-GAAP gross margins between 30% and 35% and operating margins between 15% and 20%, driven by higher mix of leading-edge 30TB+ HAMR drives and operational factory efficiencies.
What is Seagate's balance sheet debt and liquidity position?
Seagate maintains approximately $5.0 billion to $5.5 billion in long-term debt, balanced by robust cash reserves and revolving credit lines, with management actively managing maturities through low-cost refinancing.
How does Seagate manage capital expenditure (Capex)?
Seagate maintains disciplined capex of approximately 4% to 6% of revenue ($250 million to $400 million annually), focusing capital strictly on precision nanophotonic tooling for HAMR wafer fabrication rather than building redundant factory square footage.
What happened to Seagate's financials during the 2023 cloud inventory digestion?
In 2023, cloud hyperscalers paused hardware purchases following massive pandemic overbuilding. Seagate's revenue dropped sharply to $7.38 billion, prompting cost cuts, temporary factory idling, and covenant amendments until demand rebounded in 2024.
How does Seagate generate free cash flow in cyclical downturns?
By tightly controlling inventory levels, deferring non-essential capital projects, and optimizing working capital, Seagate generated positive free cash flow even during trough periods, supporting its dividend commitment without requiring dilutive equity offerings.
What is Seagate's share repurchase history?
Over the past two decades, Seagate has retired more than 50% of its diluted common share count through aggressive share buyback programs, returning billions of dollars in excess cash to equity holders.
How does Western Digital compare to Seagate financially?
Unlike Western Digital (which historically operated a volatile dual HDD and NAND flash business before announcing a corporate split), Seagate remained focused purely on high-margin mass-capacity HDDs, delivering superior operating leverage and dividend consistency.
What is the projected financial impact of the Mozaic 3+ HAMR ramp?
Ramping Mozaic 3+ enables Seagate to deliver higher average selling prices (ASPs) per drive while reducing the number of costly platters and heads per terabyte, structurally driving gross margins toward the top of its 30%-35% target range.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Seagate Revenue & Financials." CorpDigest, https://corpdigest.com/company/seagate/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Seagate reported $12.2B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/seagate/financials" target="_blank" rel="noopener">CorpDigest — Seagate financials</a></div>Related Financial Audits
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