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Seagate Technology (STX) stock

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NASDAQ: STX Nasdaq Technology Hardware, Storage & Peripherals Next results ~January 26, 2027

B+ Fundamentals grade

Seagate Technology is a US-listed company in the technology hardware, storage & peripherals industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$520

Cash-flow model

Base case. Range ~$390–$670 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 15% above our base value.

Price used: $593.76, November 2, 2026

Seagate Technology valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Seagate Technology files

10-Q filed October 29: Seagate Technology

Model value +1.7%

Seagate Technology posted revenue of $13.8bn for the twelve months to October 2026, up 44.4% on a year earlier and an acceleration from 34.1% growth a quarter earlier. Margins improved alongside the top line: free cash flow margin climbed to 30.1% from 12.7%, while operating margin widened to 39.6% from 22.8%. Share count, however, grew 5.0% over the year, diluting existing holders. These shifts lift the fundamentals grade from C+ to B. Our model value edges up to $401 a share from $394, still well below the current price of $704. Given that gap, the rating remains Sell.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Seagate Technology stands after its latest 10-K

Revenue for the twelve months to July 2026 was $12.2bn, up 34.1% on a year earlier, faster than 28.9% a quarter earlier. Free-cash-flow margin rose to 25.5% from 9.0% a year earlier. Operating margin widened to 33.6% from 20.8%. The diluted share count is up 5.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 5 of our 7 financial-health checks. Our cash-flow model value is $229 a share, against a share price of $675.

10-K on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Seagate Technology's trailing-twelve-month revenue grew 44.4% year on year, with a free-cash-flow margin of 30.1%. Where it stands out: operating margin of 39.6% ranks 2 of 26 technology hardware, storage & peripherals companies we cover.

Our discounted-cash-flow model values the business at ~$520 per share in the base case (~$390–$670 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 241.3% while net income grew 156.6%: a 85pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 44.4% over the last 12 months, against a median of 11.3% for technology hardware, storage & peripherals companies we cover.
  • Growth speeding up. The growth rate is 10.3 points higher than a quarter earlier.
  • High operating margin. 39.6% of revenue is left as operating profit, against a median of 5.3% for technology hardware, storage & peripherals companies we cover.
  • Margins widening. Operating margin is up 16.8 points on a year ago.
  • Strong cash generation. 30.1% of revenue turned into free cash flow, against a median of 3.6% for technology hardware, storage & peripherals companies we cover.

Things to watch

  • Share dilution. Diluted shares rose 5.0% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 75% and a beta of 2.6 against the S&P 500.
  • Insiders selling. 11 insiders sold $592M of stock over the past 365 days and none bought (66% under pre-set trading plans).

Latest results: FY2027 Q1

Filed October 29, 2026
Earnings per share
$7.68 against an average estimate of $7.43: beat by 3.4%
Revenue
$4.23bn, up 61.0% on a year earlier
Share reaction
+8.3% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Guidance given
revenue $4.1bn (fiscal first quarter 2027); non-GAAP diluted EPS $7.3 (fiscal first quarter 2027)
Next report
January 26, 2027; average EPS estimate $8.61

Seagate Technology's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-7.9%
  • 1 week-7.8%
  • 1 month-30.1%
  • This year+116.3%
  • 1 year+133.4%
  • 5 years+632.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$13.8B
Operating margin
39.6%
Net margin
31.9%
EPS (TTM, diluted)
$19.07

Growth

Revenue growth
+44.4%
Change in growth rate
+10.3 pts
Share count change
+5.0%

Cash

Free cash flow (TTM)
$4.2B
FCF margin
30.1%
Stock pay % of revenue
1.6%

Earnings

Last results
October 27, 2026
Next results (est.)
January 26, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Shareholder vote
  2. Results
  3. Announcement
  4. Our research
  5. Results
  6. Insider trade
  7. Announcement
  8. Announcement
  9. Share issue
  10. Leadership
  11. Results
  12. Guidance
  13. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Seagate Technology valuation models and calculator

What the price is pricing in

The share price implies about 22.5% a year of cash-flow growth for five years.That is faster than the 3.4% a year revenue growth Seagate Technology has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in22.5%
  • Last 12 months44.4%
  • 3 years a year26.6%
  • 5 years a year3.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($621.46, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$520
Price used
$621.46close November 3, 2026
Implied change
▼ 17%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Seagate Technology's free cash flow after stock-based pay with after-tax interest added back ($2.8B, FY2027 Q1 TTM), growing 38.9% and 20.8% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$390–~$670 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Seagate Technology's free cash flow after stock-based pay ( $2.8B, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Seagate Technology as an operating company, with every model that fits that kind of business. Cost of equity 12%: the 10-year Treasury yield (4.9%) plus a beta of 1.58 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$520 ~$390–$670 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$550 ~$350–$720 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$590 ~$490–$940 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$69 ~$62–$78 Left out: out of range vs price (0.12x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$540 ~$520–$590 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Seagate Technology with Technology Hardware, Storage & Peripherals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $169$232$314$423$565$748
8.5% $128$174$233$311$412$542
10% $104$139$184$244$321$420

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$15.84$27.18$41.85$36.99$39.14$74.91$61.41$57.66$99.56$140.17$819.50$593.76
Market value$4.8bn$8.1bn$12.2bn$10.5bn$10.4bn$18.4bn$13.8bn$11.9bn$21.1bn$30.4bn$187.7bn$136.9bn
+ Net debt (− = net cash)$3.0bn$2.5bn$3.0bn$2.1bn$2.5bn$4.0bn$5.1bn$4.7bn$4.4bn$4.2bn$1.9bn$1.1bn
Enterprise value$7.8bn$10.7bn$15.2bn$12.6bn$12.9bn$22.4bn$18.9bn$16.7bn$25.5bn$34.6bn$189.6bn$138.0bn
Multiples
Price / sales 0.4x0.8x1.1x1.0x1.0x1.7x1.2x1.6x3.2x3.3x15.4x9.9x
Price / earnings 19.3x10.5x10.3x5.2x10.3x14.0x8.3x—63.0x20.7x58.9x31.1x
Price / free cash flow 4.4x5.5x7.0x9.1x9.2x16.3x10.8x19.1x31.8x37.2x60.4x32.9x
EV / EBITDA 6.2x5.9x6.8x6.2x7.7x11.8x7.8x97.5x35.6x16.1x43.4x24.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

56 /100

Moderate moat

How hard Seagate Technology's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 27.0% of total assets over 10 years.

  • Pricing power 4 / 20

    Gross margin has been a median 28.7%, moving by 8.4 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 13.7%; its worst year was -8.5%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 10.7% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 3.2% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (61 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 26, 2027, after the close. Analysts expect revenue of $4.6bn and EPS of $8.61 (range $7.63 to $10.24) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $36.66 +135% $19.1bn +57%
Next $57.44 +57% $25.7bn +35%

Next year's EPS estimate has moved +25.2% in 90 days, across 20 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +27.8% on 90 days ago. In the last 30 days, 2 analysts raised Seagate Technology's forecast and 0 cut it.

Consensus EPS forecast Seagate Technology, last 90 days
$20.00 $30.00 $40.00 $50.00 $60.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $28.70 Current fiscal year, 60 days ago: $35.78 Current fiscal year, 30 days ago: $35.78 Current fiscal year, 7 days ago: $36.40 Current fiscal year, Now: $36.66 $36.66 Next fiscal year, 90 days ago: $45.88 Next fiscal year, 60 days ago: $55.37 Next fiscal year, 30 days ago: $55.37 Next fiscal year, 7 days ago: $56.98 Next fiscal year, Now: $57.44 $57.44

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $28.70$45.88
60 days ago $35.78$55.37
30 days ago $35.78$55.37
7 days ago $36.40$56.98
Now $36.66$57.44

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $7.43 $7.68 +3.4%
Jun 2026 $5.09 $5.71 +12.1%
Mar 2026 $3.51 $4.10 +16.8%
Dec 2025 $2.84 $3.11 +9.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 28, 2026
  • Revenue fiscal first quarter 2027 about $4.1bn
    “Revenue of $4.1 billion, plus or minus $100 million” source
  • Non-GAAP diluted EPS fiscal first quarter 2027 about $7.30 Non-GAAP
    “Non-GAAP diluted EPS of $7.30, plus or minus $0.20” source

How earlier guidance turned out

  • Revenue, fiscal first quarter 2027 guided about $4.1bn Above range: $4.233bn

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Seagate Technology's revenue by +38.9% next year and +20.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+50.2%, weight 70%) and the company's own record (+13.0%, weight 30%) . How the weights are set.

Analyst recommendations

26 analysts, Oct 2026
Buy2388%
Hold312%
Sell00%

Monthly trend

  1. Oct 2026419326
  2. Sep 2026418225
  3. Aug 2026418225
  4. Jul 2026418225

Counts of recommendations published by analysts covering Seagate Technology, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.1%
of tradable shares
Days to cover
1.88
at average volume
Short interest, 1 month
−18%
to September 30, 2026
Held by institutions
84%
of shares
Held by insiders
0.3%
of shares
Employees
30,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +133.4%

$254.38 on October 31, 2025 to $593.76

ThenNowEffect
Revenue (last 12 months) $9.1bn $12.2bn +34.1%
Net margin 16.1% 26.1% +61.7%
P/E multiple 37.6x 42.7x +13.6%
Share count 217m 229m −5.2%

Biggest factor: net margin.

Last 3 years +772.0%

$68.09 on November 3, 2023 to $593.76

ThenNowEffect
Revenue (last 12 months) $7.4bn $12.2bn +65.2%
P/S multiple 1.9x 11.1x +484.1%
Share count 207m 229m −9.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
STX+88%−51%+69%+4%+225%+116%
Industry peers (median)+24%−35%+28%+14%+3%+4%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
STX67%33%75%58%83%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
STX−24%−57%−23%−23%−38%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 57% from January 4, 2022 to November 3, 2022. Getting back needed a 133% gain, reached on June 17, 2024, 592 days after the low.

Price behaviour

52-week range
$236.10 – $1092.38
From 52-week high
−45.6%
vs 50-day average
−25.2%
vs 200-day average
−14.3%
Volatility (1 year)
75%
Beta vs S&P 500
2.64

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 3 down
typical move ±8.5%
After a week
8 up, 3 down
typical move ±9.5%
After a month
9 up, 2 down
typical move ±16.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 +8.3% +0.9% — —
July 28, 2026 −6.4% −1.3% +3.5% +3.6%
April 28, 2026 +8.0% −0.5% +29.4% +47.8%
January 27, 2026 +23.6% +0.4% +24.0% +14.3%
October 28, 2025 +15.3% +0.3% +8.7% +18.2%
July 30, 2025 +2.8% −0.5% −3.5% +12.9%
July 29, 2025 −2.0% −0.4% +0.9% +11.2%
April 29, 2025 +10.8% +0.7% +14.3% +43.8%
January 21, 2025 +10.8% +1.5% +2.7% +5.1%
October 22, 2024 −7.9% −1.0% −9.9% −12.8%
July 23, 2024 +3.2% −2.4% −6.7% −1.6%
April 23, 2024 +2.3% +1.1% +0.9% +11.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Seagate Technology’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.06× the last 60 days’ realised volatility , richer than 26% of the 229 stocks we screen today.
  • Calls are priced 6 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

STX Seagate Technology Grade B+ $595.32

Sell the $520 put expiring December 18, 2026 (46 days) for $25.40 a share — $2,540 per contract.

Previous session · Bid $25.40, ask $32.70, quoted Mon 2 Nov, 17:36 New York time with STX at $595.32. Option prices move with the shares: check the live chain at your broker before trading.

  • If STX ends above $520: you keep the $2,540 — 4.9% on the $52,000 set aside, or 38.8% a year at that pace.
  • If it ends below $520: you buy 100 shares at an effective $494.6, 17% below today's price and 5% below our value of ~$520.
$2.5k $0 −$9.9k Break-even $494.6 Our value $520 Price $595.32
Profit or loss per contract at expiry, by share price.
Premium
$2,540
Annualised
38.8%
Break-even
$494.6
Max gain
$2,540
Chance of buying
~25%
STX Seagate Technology Grade B+ $595.32

Own 100 shares, sell the $600 call expiring December 4, 2026 (32 days) for $46.60 a share — $4,660 per contract.

Previous session · Bid $46.60, ask $57.40, quoted Mon 2 Nov, 17:36 New York time with STX at $595.32. Option prices move with the shares: check the live chain at your broker before trading.

  • If STX ends below $600: you keep your shares and the $4,660 — 7.8% extra on the position, 89.3% a year at that pace.
  • If it ends above $600: your shares are sold at $600, a total return of 8.6% including the premium — at or above our value of ~$520.
$5.1k $0 −$11.0k Our value $520 Break-even $548.72 Price $595.32
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$4,660
Annualised
89.3%
Break-even
$548.72
Max gain
$5,128.5
Chance of selling
~54%

Collar

Own the shares, buy the $520 put and sell the $730 call, both expiring December 18, 2026 (46 days).

  • Net cost of $14.50 a share ($1,450 per contract of 100 shares).
  • Worst case at expiry: -15.1%, if the shares fall below $520 (-12.7% from today).
  • Best case at expiry: +20.2%, if the shares rise above $730 (+22.6%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $520: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Seagate Technology in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Seagate Technology
$6B $8B $10B $12B $14B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $6.5B Revenue (TTM), FY24 Q3: $6.3B Revenue (TTM), FY24 Q4: $6.6B Revenue (TTM), FY25 Q1: $7.3B Revenue (TTM), FY25 Q2: $8B Revenue (TTM), FY25 Q3: $8.5B Revenue (TTM), FY25 Q4: $9.1B Revenue (TTM), FY26 Q1: $9.6B Revenue (TTM), FY26 Q2: $10.1B Revenue (TTM), FY26 Q3: $11B Revenue (TTM), FY26 Q4: $12.2B Revenue (TTM), FY27 Q1: $13.8B $13.8B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $6.5B
FY24 Q3 $6.3B
FY24 Q4 $6.6B
FY25 Q1 $7.3B
FY25 Q2 $8B
FY25 Q3 $8.5B
FY25 Q4 $9.1B
FY26 Q1 $9.6B
FY26 Q2 $10.1B
FY26 Q3 $11B
FY26 Q4 $12.2B
FY27 Q1 $13.8B
Revenue growth, TTM YoY Seagate Technology
-40% -20% 0% 20% 40% 60% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: -30.8% Revenue growth, TTM YoY, FY24 Q3: -25.5% Revenue growth, TTM YoY, FY24 Q4: -11.3% Revenue growth, TTM YoY, FY25 Q1: 6.8% Revenue growth, TTM YoY, FY25 Q2: 24.2% Revenue growth, TTM YoY, FY25 Q3: 36.3% Revenue growth, TTM YoY, FY25 Q4: 38.9% Revenue growth, TTM YoY, FY26 Q1: 31.6% Revenue growth, TTM YoY, FY26 Q2: 25.2% Revenue growth, TTM YoY, FY26 Q3: 28.9% Revenue growth, TTM YoY, FY26 Q4: 34.1% Revenue growth, TTM YoY, FY27 Q1: 44.4% 44.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 -30.8%
FY24 Q3 -25.5%
FY24 Q4 -11.3%
FY25 Q1 6.8%
FY25 Q2 24.2%
FY25 Q3 36.3%
FY25 Q4 38.9%
FY26 Q1 31.6%
FY26 Q2 25.2%
FY26 Q3 28.9%
FY26 Q4 34.1%
FY27 Q1 44.4%
Operating margin (TTM) Seagate Technology
-20% 0% 20% 40% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -4.5% Operating margin (TTM), FY24 Q3: 2.6% Operating margin (TTM), FY24 Q4: 6.9% Operating margin (TTM), FY25 Q1: 13.5% Operating margin (TTM), FY25 Q2: 16.8% Operating margin (TTM), FY25 Q3: 19.2% Operating margin (TTM), FY25 Q4: 20.8% Operating margin (TTM), FY26 Q1: 22.8% Operating margin (TTM), FY26 Q2: 25.2% Operating margin (TTM), FY26 Q3: 28.2% Operating margin (TTM), FY26 Q4: 33.6% Operating margin (TTM), FY27 Q1: 39.6% 39.6%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -4.5%
FY24 Q3 2.6%
FY24 Q4 6.9%
FY25 Q1 13.5%
FY25 Q2 16.8%
FY25 Q3 19.2%
FY25 Q4 20.8%
FY26 Q1 22.8%
FY26 Q2 25.2%
FY26 Q3 28.2%
FY26 Q4 33.6%
FY27 Q1 39.6%
FCF margin (TTM) Seagate Technology
0% 10% 20% 30% 40% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 7.7% FCF margin (TTM), FY24 Q3: 7.2% FCF margin (TTM), FY24 Q4: 10.1% FCF margin (TTM), FY25 Q1: 8.7% FCF margin (TTM), FY25 Q2: 8.5% FCF margin (TTM), FY25 Q3: 9.1% FCF margin (TTM), FY25 Q4: 9.0% FCF margin (TTM), FY26 Q1: 12.7% FCF margin (TTM), FY26 Q2: 16.7% FCF margin (TTM), FY26 Q3: 21.9% FCF margin (TTM), FY26 Q4: 25.5% FCF margin (TTM), FY27 Q1: 30.1% 30.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 7.7%
FY24 Q3 7.2%
FY24 Q4 10.1%
FY25 Q1 8.7%
FY25 Q2 8.5%
FY25 Q3 9.1%
FY25 Q4 9.0%
FY26 Q1 12.7%
FY26 Q2 16.7%
FY26 Q3 21.9%
FY26 Q4 25.5%
FY27 Q1 30.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Seagate Technology took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $12.2B
  2. Cost of revenue $6.6B · 54.4%
  3. Gross profit $5.6B · 45.6%
  4. Research and development $755M · 6.2%
  5. Selling, general and admin $577M · 4.7%
  6. Other operating costs $132M · 1.1%
  7. Operating income $4.1B · 33.6%
  8. Income tax $506M · 4.1%
  9. Interest and other $404M · 3.3%
  10. Net income $3.2B · 26.1%

Shares of revenue. Source: Seagate Technology's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jul 2010 2011 Jul 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jul 2015 2016 Jul 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jul 2020 2021 Jul 2021 2022 Jul 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jul 2026 LTM Oct 2026
Income
Revenue 11.4 11.0 14.9 14.4 13.7 13.7 11.2 10.8 11.2 10.4 10.5 10.7 11.7 7.4 6.6 9.1 12.2 13.8
Gross profit 3.2 2.1 4.7 3.9 3.8 3.8 2.6 3.2 3.4 2.9 2.8 2.9 3.5 1.4 1.5 3.2 5.6 6.9
EBITDA 2.5 1.6 3.9 3.0 2.7 2.9 1.3 1.8 2.2 2.0 1.7 1.9 2.4 0.2 0.7 2.1 4.4 5.7
Operating income 1.7 0.8 3.1 2.1 1.8 2.1 0.4 1.1 1.6 1.5 1.3 1.5 2.0 −0.3 0.5 1.9 4.1 5.5
Net income 1.6 0.5 2.9 1.8 1.6 1.7 0.2 0.8 1.2 2.0 1.0 1.3 1.6 −0.5 0.3 1.5 3.2 4.4
Diluted EPS $3.14 $1.09 $6.49 $4.81 $4.52 $5.26 $0.82 $2.58 $4.05 $7.06 $3.79 $5.36 $7.36 −$2.56 $1.58 $6.77 $13.90 $19.07
Growth (year on year)
Revenue +16.2% −3.7% +36.2% −3.9% −4.4% +0.1% −18.8% −3.5% +3.8% −7.1% +1.1% +1.6% +9.2% −36.7% −11.3% +38.9% +34.1% +44.4%
EBITDA — −38.1% +151.4% −24.4% −10.4% +9.2% −56.5% +43.1% +23.8% −9.1% −17.2% +12.5% +27.4% −92.9% +318.7% +199.0% +104.1% +135.4%
Operating income — −53.7% +285.6% −32.7% −15.1% +15.9% −78.4% +136.9% +55.0% −9.0% −12.6% +14.8% +31.0% −117.5% — +318.1% +116.6% +150.5%
Net income — −68.2% +460.1% −35.8% −14.6% +11.0% −85.8% +211.3% +53.1% +70.2% −50.1% +30.9% +25.5% −132.1% — +338.5% +116.7% +156.6%
Diluted EPS — −65.3% +495.4% −25.9% −6.0% +16.4% −84.4% +214.6% +57.0% +74.3% −46.3% +41.4% +37.3% −134.8% — +328.5% +105.3% +144.4%
Margins
Gross margin 28.1% 19.6% 31.4% 27.5% 28.0% 27.7% 23.4% 29.5% 30.1% 28.2% 27.0% 27.3% 29.7% 18.3% 23.4% 35.2% 45.6% 50.4%
EBITDA margin 22.1% 14.2% 26.3% 20.7% 19.3% 21.1% 11.3% 16.7% 20.0% 19.5% 16.0% 17.7% 20.6% 2.3% 10.9% 23.5% 35.8% 41.6%
Operating margin 15.3% 7.3% 20.8% 14.6% 12.9% 15.0% 4.0% 9.8% 14.6% 14.3% 12.4% 14.0% 16.8% −4.6% 6.9% 20.8% 33.6% 39.6%
Net margin 14.1% 4.7% 19.2% 12.8% 11.4% 12.7% 2.2% 7.2% 10.6% 19.4% 9.6% 12.3% 14.1% −7.2% 5.1% 16.1% 26.1% 31.9%
Free-cash-flow margin 11.3% 3.8% 17.6% 15.8% 14.6% 13.9% 9.8% 13.8% 15.6% 11.2% 10.7% 10.6% 10.9% 8.5% 10.1% 9.0% 25.5% 30.1%
Cash flow
Cash from operations 1.9 1.3 3.3 3.0 2.6 2.7 1.7 1.9 2.1 1.8 1.7 1.6 1.7 0.9 0.9 1.1 3.7 4.8
Capital spending 0.6 0.8 0.6 0.8 0.6 0.7 0.6 0.4 0.4 0.6 0.6 0.5 0.4 0.3 0.3 0.3 0.6 0.7
Free cash flow 1.3 0.4 2.6 2.3 2.0 1.9 1.1 1.5 1.7 1.2 1.1 1.1 1.3 0.6 0.7 0.8 3.1 4.2
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2
Free cash flow after stock pay 1.2 0.4 2.6 2.2 1.9 1.8 1.0 1.3 1.6 1.1 1.0 1.0 1.1 0.5 0.5 0.6 2.9 3.9
Balance sheet
Cash 2.3 2.7 1.7 1.7 2.6 2.5 1.1 2.5 1.9 2.2 1.7 1.2 0.6 0.8 1.4 0.9 1.7 1.3
Total debt 2.5 3.5 2.9 2.8 3.9 4.2 4.1 5.1 4.9 4.3 4.2 5.2 5.7 5.5 5.7 5.0 3.6 2.4
Net debt (negative = net cash) 0.2 0.8 1.2 1.1 1.3 1.7 3.0 2.5 3.0 2.1 2.5 4.0 5.1 4.7 4.4 4.2 1.9 1.1
Diluted shares 514m 467m 441m 382m 347m 331m 302m 299m 292m 285m 265m 245m 224m 207m 212m 217m 229m 231m
Returned to shareholders
Dividends 0.0 0.1 0.4 0.5 0.6 0.7 0.7 0.6 0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Buybacks 0.6 0.8 2.4 1.7 1.9 1.1 1.1 0.5 0.4 1.0 0.9 2.0 1.8 0.4 0.0 0.0 0.2 0.5
Total returned 0.6 0.9 2.8 2.2 2.5 1.8 1.8 1.0 1.1 1.7 1.5 2.7 2.4 1.0 0.6 0.6 0.8 1.2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · October 2, 2026
What it owns · $10.3bn
Short-term assets $5.4bnLonger-term assets $4.9bn
What it owes, and who funded it · $10.3bn
Short-term liabilities $3.0bnLonger-term liabilities $3.9bnShareholders' equity $3.5bn
  • Short-term assets cover short-term liabilities $5.4bn of assets due within a year against $3.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5.4bn short-term assets against $3.9bn of longer-dated liabilities.
  • More cash than debt $1.3bn of cash against $2.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 68% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 1333% to 68% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.8bn of operating cash flow against $2.4bn of debt.
  • Operating profit covers interest at least five times over Operating income of $5.5bn against $245m of interest.

From Seagate Technology's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$547M
Dividends (TTM)
$649M
Returned to shareholders
29%
of free cash flow
Buybacks, last 3 fiscal years
$176M
Diluted share count
+5.0%
year over year
Total shareholder yield
0.9%
dividends 0.5% + buybacks 0.4% of market value
Dividend payout ratio
15%
of net income paid out
R&D spending
5.6%
of revenue
Sales & admin spending
4.3%
of revenue
Days sales outstanding
48 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in technology hardware, storage & peripherals
Last 12 months unless stated STX WDC XRX SNDK NTAP LOGI Median
Revenue, last 12 months $13.8bn $14.5bn $7.8bn $29.0bn $6.5bn $5.0bn $3.9bn
Revenue growth, last 12 months 44.4% 43.0% 25.6% 272.4% 12.7% 5.7% 11.3%
Revenue growth, 3-year average 26.6% 57.4% 2.7% — 1.6% 5.1% 2.7%
Revenue growth, latest quarter 61.0% 55.5% 22.0% 377.9% 30.1% 2.8% 22.0%
Gross margin 50.4% 52.6% — 80.0% 80.3% 45.5% 34.7%
Operating margin 39.6% 39.4% — 72.5% 28.5% 17.8% 4.1%
Operating margin, 3-year average 25.3% 22.9% — 19.2% 25.0% 15.8% 4.2%
Net margin 31.9% 69.2% −11.9% 67.0% 21.8% 16.4% 2.0%
Cash from operations / revenue 35.0% 33.6% 2.8% 60.6% 29.2% 20.5% 6.3%
Free-cash-flow margin 30.1% 29.6% 2.1% 59.9% 25.4% 19.2% 3.0%
Free-cash-flow margin, 3-year average 17.2% 15.8% 5.3% — 26.2% 19.3% 4.7%
Stock pay / revenue 1.6% 1.6% 0.5% 0.9% 6.1% 2.2% 1.9%
Change in share count 5.0% 5.8% 3.0% 7.0% −3.1% −2.6% 1.4%

Median of all 27 companies we cover in technology hardware, storage & peripherals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

27 technology hardware, storage & peripherals companies
Measure Company Peer median Rank
Revenue growth Growth 44.4% 11.3% 6 of 27
Change in growth rate Growth +10.3pp +5.0pp 6 of 27
Gross margin Profitability 50.4% 41.2% 5 of 22
Operating margin Profitability 39.6% 5.3% 2 of 26
Net margin Profitability 31.9% 2.0% 3 of 27
Free-cash-flow margin Cash generation 30.1% 3.6% 3 of 26
Stock pay as % of revenue Cash generation 1.6% 1.9% 12 of 27
Long-term debt as % of assets Balance sheet 22.8% 18.6% 12 of 16
Change in share count Balance sheet 5.0% 1.4% 19 of 27
Days sales outstanding Balance sheet 48 days 54 days 7 of 23

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to July 3, 2026
Geography
Region Revenue Share YoY
United States $6.1B 50.4% ▲ 39.4%
Singapore $4.9B 40.0% ▲ 29.8%
Netherlands $1.2B 9.6% ▲ 26.1%
Other Countries $4M 0.0% 0.0%

From Seagate Technology's 10-K filed August 4, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$180B
Institutions reporting
1,936
Shares held vs prior quarter
▼ 1.2%
Positions opened / closed
544 / 64

Top buyers and sellers, Q2 2026: 1,163 institutions bought and 656 sold ; the biggest buyer was Wellington Management Group LLP (+2.3M shares) and the biggest seller Sanders Capital, LLC (−9.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $14.6B 15.2M 8.1% ▲ 6.3%
Vanguard Capital Management LLC $14.1B 14.6M 7.8% ▲ 3.4%
State Street Corp $9.6B 9.9M 5.3% ▲ 6.3%
FMR LLC $7.9B 8.2M 4.4% ▼ 0.3%
Vanguard Portfolio Management LLC $7.7B 8.0M 4.3% ▼ 27.9%
Invesco Ltd. $7.3B 7.5M 4.0% ▲ 5.0%
WCM Investment Management, LLC $5.2B 5.3M 2.9% ▲ 22.4%
Jpmorgan Chase & Co $5B 5.2M 2.8% ▼ 21.9%
Geode Capital Management, LLC $5B 5.2M 2.8% ▲ 1.9%
Morgan Stanley $4.6B 4.7M 2.5% ▼ 0.8%
Capital Research Global Investors $4.2B 4.3M 2.3% ▼ 24.6%
Sanders Capital, LLC $3.4B 3.5M 1.9% ▼ 73.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Seagate Technology's complete shareholder register. Values are as reported by the filers ; 6 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $592M 716 trades by 11 insiders · 66% under pre-set plans
Net ▼ $592M net selling
Insider Date Trade Shares Price Value
Lee James Ci EVP & CLO October 23, 2026 Sell 547 $642.14 $351,411
Mosley William D CEO October 1, 2026 Sell pre-set plan 640 $927.90 $593,854
Mosley William D CEO October 1, 2026 Sell pre-set plan 480 $926.78 $444,852
Mosley William D CEO October 1, 2026 Sell pre-set plan 1,080 $925.88 $999,953
Mosley William D CEO October 1, 2026 Sell pre-set plan 640 $924.72 $591,821
Mosley William D CEO October 1, 2026 Sell pre-set plan 760 $923.78 $702,074
Mosley William D CEO October 1, 2026 Sell pre-set plan 800 $922.66 $738,126
Mosley William D CEO October 1, 2026 Sell pre-set plan 930 $921.63 $857,121
Mosley William D CEO October 1, 2026 Sell pre-set plan 630 $920.62 $579,988
Mosley William D CEO October 1, 2026 Sell pre-set plan 840 $919.56 $772,428
Mosley William D CEO October 1, 2026 Sell pre-set plan 920 $918.49 $845,013
Mosley William D CEO October 1, 2026 Sell pre-set plan 400 $917.22 $366,889

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 31 trades and filings

In the last 12 months, 3 members of Congress disclosed 0 purchases and 5 sales of Seagate Technology shares.

  • Kevin Hern(R-OK 1):Sale (partial), $15,001 - $50,000, traded October 23, 2026, filed October 28, 2026
  • Lisa C. McClain(R-MI 9):Sale (partial), $15,001 - $50,000, traded September 30, 2026, filed October 12, 2026
  • Kevin Hern(R-OK 1):Sale (partial), $1,001 - $15,000, traded September 15, 2026, filed September 25, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • April 28, 2026
  • January 27, 2026
  • October 28, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Seagate Technology was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Seagate Technology in brief

What does Seagate Technology do?
Seagate Technology is a US-listed company in the technology hardware, storage & peripherals industry. Its financial year ends in June.
What is Seagate Technology's stock ticker?
Seagate Technology trades under the ticker STX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Seagate Technology's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Seagate Technology reported revenue of $13.8B, 44.4% higher than a year earlier, according to its SEC filings.
What is Seagate Technology's free cash flow?
Seagate Technology's free-cash-flow margin is 30.1% of revenue over the trailing twelve months, ranking 3 of the 26 technology hardware, storage & peripherals companies we cover.
What is Seagate Technology's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Seagate Technology's free cash flow after stock-based pay gives ~$520 per share in the base case, and ~$390–$670 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Seagate Technology's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Seagate Technology buying back stock, and does it pay a dividend?
Seagate Technology spent $547M on share repurchases over the trailing twelve months, and its diluted share count still rose 5.0% over the year.
What is Seagate Technology's market cap?
On November 2, 2026, Seagate Technology's market capitalisation was about $137B, with a price-to-earnings ratio of 31.1 and net debt of $1.1B. Market figures come from third-party market data and may be delayed.
Does Seagate Technology pay a dividend?
Yes: Seagate Technology paid $649M in dividends over the trailing twelve months, a dividend yield of 0.48% and a payout ratio of 14.8%.
How much debt does Seagate Technology have?
Seagate Technology's debt-to-equity ratio is 68.1%, from its latest balance sheet (1333.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Seagate Technology's competitors?
In our Technology Hardware, Storage & Peripherals peer group, the companies closest to Seagate Technology are Western Digital, Xerox Holdings Corp, Sandisk, NetApp and Logitech International S.a. The side-by-side comparison below sets their revenue, margins and growth against Seagate Technology's.
Are insiders buying or selling Seagate Technology stock?
Over the last 12 months, Seagate Technology's directors and officers reported 0 open-market purchases and 716 sales on Form 4. The insider trading page charts every trade.
When is Seagate Technology's next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Seagate Technology announces its own schedule.