Seagate Technology vs Western Digital
Seagate Technology and Western Digital are similar in size: $12.20bn and $12.92bn of revenue in their latest fiscal years. Western Digital grew faster (35.7% against 34.1%). Western Digital kept more of each dollar of sales as profit: a net margin of 72.9% against 26.1%. Western Digital carries less debt relative to equity (12.0% against 166.3%).
| Latest fiscal year | Seagate TechnologySTX, 2026 | Western DigitalWDC, 2026 |
|---|---|---|
| Revenue | $12.20bn | $12.92bn |
| Revenue growth | 34.1% | 35.7% |
| Net income | $3.18bn | $9.42bn |
| Operating margin | 33.6% | 34.5% |
| Net margin | 26.1% | 72.9% |
| Return on equity | — | 133.0% |
| Free cash flow | $3.10bn | $3.51bn |
| Cash | $1.70bn | $1.58bn |
| Total debt | $3.60bn | $1.06bn |
| Debt to equity | 166.3% | 12.0% |
| Dividend per share | $2.94 | $0.50 |
| Dividend yield | 0.5% | 0.1% |
| Share buybacks | $176m | $2.59bn |
| Employees | 30,000 | 40,000 |
| Market value | $139.11bn | $130.01bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 56 (Moderate) | 40 (Weak) |
| Insider trades, 12 months | 0 buys, 716 sales | 0 buys, 237 sales |