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Maker of hard-disk drives for data centers, mainly high-capacity nearline HDDs used for cloud and enterprise storage.
Maker of hard-disk drives for data centers, mainly high-capacity nearline HDDs used for cloud and enterprise storage.
Is one of three hard-disk makers worldwide, with Western Digital and Toshiba. Sells large-capacity drives chiefly to cloud providers and enterprises in volume under supply plans, so shipments follow data-centre storage spending. HAMR, laser-assisted recording, is its route to higher capacity per drive.
Moat: narrow (scale, IP / patents, switching costs). One of only two scaled HDD makers, with deep areal-density recording IP.
Headquarters: Fremont, California, US · Founded: 1978 · Employees: 30,000
Size Seagate Technology (STX) is a United States Information Technology company (Computer Peripherals) with a market value of $106B, the 119th largest of 3,117 United States companies the cockpit tracks. Shares closed at $460.99 on 6 Nov 2026.
Performance Over six months the shares fell 41.1%, against +18.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 8 in its peer set.
Growth Revenue grew 44.4% over the last twelve months (peer median +25.4%); the operating margin is 40.5% (peer median 26.0%).
Valuation It trades at 9.8× forward earnings against a peer median of 12.2× (3rd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 77.3 points above its cost of capital (15.5% WACC).
Credit Seagate Technology has 5 bonds outstanding ($1.37B), rated BBB- by the agencies and trading like BB+ at a weighted spread of 154 bp.
Short interest Short interest is 3.5% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $13.8B | $12.2B | $9.10B | $6.55B | $7.38B |
| Revenue growth | — | +34% | +39% | -11% | — |
| Gross profit | $6.95B | $5.56B | $3.20B | $1.55B | $1.42B |
| EBITDA | $5.87B | $4.50B | $2.17B | $702M | $642M |
| Net income | $4.40B | $3.18B | $1.47B | $335M | -$529M |
| Free cash flow | $4.16B | $3.10B | $818M | $664M | $626M |
| Capital expenditure | $675M | $569M | $265M | $254M | $316M |
| Total debt | $2.67B | $3.90B | $5.37B | $6.07B | $5.83B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Seagate Technology STX | $106B | -41% | +44% | 40% | 9.8× | 22.1% |
| Western Digital WDC | $98.7B | -45% | +21% | 41% | 9.2× | 20.7% |
| Sandisk SNDK | $119B | -47% | +272% | 73% | 3.4× | 3.5% |
| Kioxia 285A.T | $88.9B | +139% | +265% | 70% | 2.5× | -3.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | STX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.5% | -26.8% | 2nd lowest of 8 |
| 6-month return | -41.1% | +18.1% | 3rd lowest of 8 |
| Distance from 52-week high | -59.7% | -29.8% | 3rd lowest of 8 |
| Revenue growth (TTM) | +44.4% | +25.4% | 2nd highest of 8 |
| Operating margin | 40.5% | 26.0% | 4th highest of 8 |
| Forward P/E | 9.8× | 12.2× | 3rd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 22.1% | 18.0% | 3rd most demanding of 7 |
| Growth delivered (Del g) | +2.7% | +12.4% | 2nd lowest of 7 |
| Hurdle (Req g minus delivered) | +19.4 pp | +5.0 pp | 3rd most demanding of 7 |
| ROIC minus cost of capital | +77.3 pp | +23.7 pp | 3rd highest of 7 |
| EV / EBITDA | 18.3× | 15.5× | 3rd most expensive of 7 |
| Net debt / EBITDA | 0.2× | -0.4× | 2nd most indebted of 8 |
| Bond spread | 154 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Seagate Technology STX | United States | $106B | -41% | +44% | 40% | 9.8× | 22.1% | +2.7% |
| Western Digital WDC | United States | $98.7B | -45% | +21% | 41% | 9.2× | 20.7% | -5.3% |
| Hon Hai Precision Industry 2317.TW | Taiwan | $95.6B | -3% | +25% | 4% | 10.5× | n/a | n/a |
| Sandisk SNDK | United States | $119B | -47% | +272% | 73% | 3.4× | 3.5% | +49.3% |
| Arista Networks ANET | United States | $215B | +20% | +41% | 44% | 30.4× | 29.8% | +31.2% |
| NetApp NTAP | United States | $33.2B | +43% | +12% | 26% | 17.0× | 15.2% | +3.8% |
| Everpure P | United States | $32.2B | +24% | +27% | 5% | 29.6× | 58.7% | +16.8% |
| Canon 7751.T | Japan | $28.4B | +18% | +4% | 10% | 12.2× | -0.6% | +7.9% |
Seagate Technology has 5 bonds outstanding with $1.37B face value. The agencies rate it BBB-; its bonds trade like BB+. Weighted yield 6.20%, a spread of 154 bp over government bonds.