What is Seagate Technology's operating income?

Seagate Technology's total operating income in 2027 was $1.89 billion, based on the following breakdown: Total Gross Profit: $3.20 billion Total Operating Expenses: $1.31 billion

Seagate Technology (STX) Financials

$850.00 -0.24 (-0.03%)

As of 08/21/2026 04:00 PM Eastern

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Annual Income Statements for Seagate Technology

This table shows Seagate Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027
Period end date	6/30/2017	6/29/2018	6/28/2019	7/3/2020	7/2/2021	7/1/2022	6/30/2023	6/28/2024	6/27/2025	7/3/2026	6/27/2025
Net Income / (Loss) Attributable to Common Shareholders	772	1,182	2,012	1,004	1,314	1,649	-529	232	1,469	3,187	1,469
Consolidated Net Income / (Loss)	772	1,182	2,012	1,004	1,314	1,649	-529	335	1,469	3,184	1,469
Net Income / (Loss) Continuing Operations	772	1,182	2,012	1,004	1,314	1,649	-529	335	1,469	3,184	1,469
Total Pre-Tax Income	815	1,418	1,372	1,032	1,348	1,679	-496	445	1,513	3,690	1,513
Total Operating Income	1,054	1,634	1,487	1,300	1,492	1,955	-342	452	1,890	4,094	1,890
Total Gross Profit	3,174	3,364	2,932	2,842	2,917	3,469	1,351	1,536	3,200	5,558	3,200
Total Revenue	10,771	11,184	10,390	10,509	10,681	11,661	7,384	6,551	9,097	12,195	9,097
Operating Revenue	10,771	11,184	10,390	10,509	10,681	11,661	7,384	6,551	9,097	12,195	9,097
Total Cost of Revenue	7,597	7,820	7,458	7,667	7,764	8,192	6,033	5,015	5,897	6,637	5,897
Operating Cost of Revenue	7,597	7,820	7,458	7,667	7,764	8,192	6,033	5,015	5,897	6,637	5,897
Total Operating Expenses	2,120	1,730	1,445	1,542	1,425	1,514	1,693	1,084	1,310	1,464	1,310
Selling, General & Admin Expense	606	562	453	473	502	559	491	460	561	577	561
Research & Development Expense	1,232	1,026	991	973	903	941	797	654	724	755	724
Amortization Expense	104	53	23	14	12	11	3.00	-	-	-	0.00
Restructuring Charge	178	89	-22	82	8.00	3.00	102	-30	25	27	25
Other Special Charges / (Income)	-	-	-	-	0.00	0.00	300	0.00	0.00	105	0.00
Total Other Income / (Expense), net	-239	-216	-115	-268	-144	-276	-154	-7.00	-377	-404	-377
Interest Expense	222	236	224	201	220	249	123	361	328	435	328
Interest & Investment Income	12	38	84	20	2.00	2.00	10	15	25	30	25
Other Income / (Expense), net	-29	-18	25	-87	74	-29	-41	339	-74	1.00	-74
Income Tax Expense	43	236	-640	28	34	30	33	110	44	506	44
Basic Earnings per Share	$2.61	$4.10	$7.13	$3.83	$5.43	$7.50	($2.56)	$1.60	$6.93	$14.54	$6.93
Weighted Average Basic Shares Outstanding	296M	288M	282M	262M	242M	220M	207M	209M	212M	219M	212M
Diluted Earnings per Share	$2.58	$4.05	$7.06	$3.79	$5.36	$7.36	($2.56)	$1.58	$6.77	$13.90	$6.77
Weighted Average Diluted Shares Outstanding	299M	292M	285M	265M	245M	224M	207M	212M	217M	229M	217M
Weighted Average Basic & Diluted Shares Outstanding	295.80M	288.30M	282.20M	514.92M	455.21M	417.51M	207.39M	420.39M	212.68M	226.64M	212.68M
Cash Dividends to Common per Share	$2.52	$2.52	$2.52	$2.58	$2.66	$2.77	-	-	-	-	$2.86

This table shows Seagate Technology's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/29/2023	3/29/2024	6/28/2024	9/27/2024	12/27/2024	3/28/2025	6/27/2025	10/3/2025	1/2/2026	4/3/2026	7/3/2026
Net Income / (Loss) Attributable to Common Shareholders	-19	25	513	305	336	340	488	549	593	748	1,297
Consolidated Net Income / (Loss)	-19	25	513	305	336	340	488	549	593	748	1,294
Net Income / (Loss) Continuing Operations	-19	25	513	305	336	340	488	549	593	748	1,294
Total Pre-Tax Income	-4.00	58	538	316	350	355	492	614	707	864	1,505
Total Operating Income	124	143	314	403	488	431	568	694	843	998	1,559
Total Gross Profit	362	425	600	714	812	760	914	1,037	1,176	1,447	1,898
Total Revenue	1,555	1,655	1,887	2,168	2,325	2,160	2,444	2,629	2,825	3,112	3,629
Operating Revenue	1,555	1,655	1,887	2,168	2,325	2,160	2,444	2,629	2,825	3,112	3,629
Total Cost of Revenue	1,193	1,230	1,287	1,454	1,513	1,400	1,530	1,592	1,649	1,665	1,731
Operating Cost of Revenue	1,193	1,230	1,287	1,454	1,513	1,400	1,530	1,592	1,649	1,665	1,731
Total Operating Expenses	238	282	286	311	324	329	346	343	333	449	339
Selling, General & Admin Expense	108	116	131	129	139	139	154	144	143	143	147
Research & Development Expense	161	164	158	181	184	180	179	186	187	194	188
Restructuring Charge	-31	2.00	-3.00	1.00	1.00	10	13	13	3.00	7.00	4.00
Total Other Income / (Expense), net	-128	-85	224	-87	-138	-76	-76	-80	-136	-134	-54
Interest Expense	84	82	82	85	84	81	78	80	138	137	80
Interest & Investment Income	3.00	3.00	7.00	7.00	8.00	4.00	6.00	7.00	7.00	6.00	10
Other Income / (Expense), net	-47	-6.00	299	-9.00	-62	1.00	-4.00	-7.00	-5.00	-3.00	16
Income Tax Expense	15	33	25	11	14	15	4.00	65	114	116	211
Basic Earnings per Share	($0.09)	$0.12	$2.45	$1.45	$1.58	$1.60	$2.30	$2.58	$2.75	$3.38	$5.83
Weighted Average Basic Shares Outstanding	209M	210M	209M	211M	212M	212M	212M	213M	216M	221M	219M
Diluted Earnings per Share	($0.09)	$0.12	$2.43	$1.41	$1.55	$1.57	$2.24	$2.43	$2.60	$3.27	$5.60
Weighted Average Diluted Shares Outstanding	209M	213M	212M	216M	217M	216M	217M	226M	228M	229M	229M
Weighted Average Basic & Diluted Shares Outstanding	209.51M	209.99M	420.39M	211.53M	211.71M	212.22M	212.68M	213.56M	218.07M	224.23M	226.64M

This table details how cash moves in and out of Seagate Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027
Period end date	6/30/2017	6/29/2018	6/28/2019	7/3/2020	7/2/2021	7/1/2022	6/30/2023	6/28/2024	6/27/2025	7/3/2026	6/27/2025
Net Change in Cash & Equivalents	1,411	-686	394	-527	-513	-594	171	572	-467	812	-467
Net Cash From Operating Activities	1,916	2,113	1,761	1,714	1,626	1,657	942	918	1,083	3,674	1,083
Net Cash From Continuing Operating Activities	1,916	2,110	1,761	1,714	1,626	1,657	942	918	1,083	3,674	1,083
Net Income / (Loss) Continuing Operations	772	1,182	2,012	1,004	1,314	1,649	-529	335	1,469	3,184	1,469
Consolidated Net Income / (Loss)	772	1,182	2,012	1,004	1,314	1,649	-529	335	1,469	3,184	1,469
Depreciation Expense	749	598	541	379	397	451	513	264	251	276	251
Non-Cash Adjustments To Reconcile Net Income	206	98	2.00	219	59	209	-214	-145	336	407	276
Changes in Operating Assets and Liabilities, net	189	232	-794	112	-144	-652	1,172	464	-973	-193	-913
Net Cash From Investing Activities	-459	-1,588	846	-635	-466	-352	217	126	-276	-525	-276
Net Cash From Continuing Investing Activities	-459	-1,588	846	-635	-466	-352	217	126	-276	-525	-276
Purchase of Property, Plant & Equipment	-471	-372	-620	-643	-502	-399	-317	-254	-265	-571	-265
Acquisitions	-	-	-	-	-	-	0.00	0.00	-88	0.00	-88
Sale of Property, Plant & Equipment	0.00	71	154	8.00	33	47	534	54	52	31	52
Divestitures	-	-	-	-	-	0.00	0.00	326	25	15	25
Net Cash From Financing Activities	-46	-1,211	-2,212	-1,605	-1,673	-1,899	-988	-473	-1,274	-2,337	-1,274
Net Cash From Continuing Financing Activities	-46	-1,211	-2,212	-1,605	-1,673	-1,899	-988	-473	-1,274	-2,337	-1,274
Repayment of Debt	-316	-214	-819	-1,139	-52	-707	-1,622	-1,416	-1,092	-1,464	-1,092
Repurchase of Common Equity	-460	-361	-963	-850	-2,047	-1,799	-408	0.00	0.00	-176	0.00
Payment of Dividends	-561	-726	-713	-673	-649	-610	-582	-585	-600	-634	-600
Issuance of Debt	1,232	0.00	245	994	1,000	1,200	1,600	1,500	400	0.00	400
Issuance of Common Equity	86	113	69	103	108	68	68	66	72	56	72
Other Financing Activities, net	-27	-23	-31	-40	-33	-51	-44	-38	-54	-119	-54
Effect of Exchange Rate Changes	-	-	-1.00	-	-	0.00	0.00	1.00	0.00	0.00	0.00
Cash Interest Paid	172	237	223	226	184	244	327	303	324	281	324
Cash Income Taxes Paid	33	43	39	51	44	33	32	30	42	40	42

This table details how cash moves in and out of Seagate Technology's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/29/2023	3/29/2024	6/28/2024	9/27/2024	12/27/2024	3/28/2025	6/27/2025	10/3/2025	1/2/2026	4/3/2026	7/3/2026
Net Change in Cash & Equivalents	-8.00	8.00	563	-119	-1.00	-424	77	221	-66	99	558
Net Cash From Operating Activities	169	188	434	95	221	259	508	532	723	1,114	1,305
Net Cash From Continuing Operating Activities	169	188	434	95	221	259	508	532	723	1,114	1,305
Net Income / (Loss) Continuing Operations	-19	25	513	305	336	340	488	549	593	748	1,294
Consolidated Net Income / (Loss)	-19	25	513	305	336	340	488	549	593	748	1,294
Depreciation Expense	62	63	63	64	63	63	61	72	68	66	70
Non-Cash Adjustments To Reconcile Net Income	25	35	-260	46	107	56	67	52	124	168	63
Changes in Operating Assets and Liabilities, net	101	65	118	-320	-285	-200	-108	-141	-62	132	-122
Net Cash From Investing Activities	-35	-52	283	-68	-70	-8.00	-130	-90	-116	-163	-156
Net Cash From Continuing Investing Activities	-35	-52	283	-68	-70	-8.00	-130	-90	-116	-163	-156
Purchase of Property, Plant & Equipment	-70	-60	-54	-68	-71	-43	-83	-105	-116	-163	-187
Sale of Property, Plant & Equipment	-	8.00	11	-	-	10	41	-	-	-	31
Net Cash From Financing Activities	-142	-128	-154	-146	-152	-675	-301	-221	-673	-852	-591
Net Cash From Continuing Financing Activities	-142	-128	-154	-146	-152	-675	-301	-221	-673	-852	-591
Repayment of Debt	-2.00	-	-	0.00	-	-538	-554	-11	-504	-647	-302
Repurchase of Common Equity	-	-	-	0.00	-	-	-	-29	-	-30	-117
Payment of Dividends	-146	-147	-147	-147	-148	-152	-153	-153	-154	-161	-166
Issuance of Common Equity	9.00	22	-	29	3.00	24	16	22	5.00	27	2.00
Other Financing Activities, net	-3.00	-3.00	-7.00	-28	-7.00	-9.00	-10	-50	-20	-41	-8.00

This table presents Seagate Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027
Period end date	6/30/2017	6/29/2018	6/28/2019	7/3/2020	7/2/2021	7/1/2022	6/30/2023	6/28/2024	6/27/2025	7/3/2026	6/27/2025
Total Assets	9,268	9,410	8,885	8,930	8,675	8,944	7,556	7,739	8,023	9,972	8,023
Total Current Assets	5,041	4,310	4,363	4,114	3,779	4,033	2,905	3,332	3,653	5,221	3,653
Cash & Equivalents	2,539	1,853	2,220	1,722	1,209	615	786	1,358	891	1,704	891
Accounts Receivable	1,199	1,184	989	1,115	1,158	1,532	621	429	959	1,534	959
Inventories, net	982	1,053	970	1,142	1,204	1,565	1,140	1,239	1,440	1,571	1,440
Other Current Assets	321	220	184	135	208	321	358	306	363	412	363
Plant, Property, & Equipment, net	1,875	1,792	1,869	2,129	2,181	2,239	1,706	1,614	1,657	2,034	1,657
Total Noncurrent Assets	2,352	3,308	2,653	2,687	2,715	2,672	2,945	2,793	2,713	2,717	2,713
Goodwill	1,238	1,237	1,237	1,237	1,237	1,237	1,237	1,219	1,221	1,221	1,221
Noncurrent Deferred & Refundable Income Taxes	609	417	1,114	1,120	1,117	1,132	1,117	1,037	1,066	1,105	1,066
Other Noncurrent Operating Assets	224	1,466	191	272	332	294	591	537	426	391	426
Total Liabilities & Shareholders' Equity	9,268	9,410	8,885	8,930	8,675	8,944	7,556	7,739	8,023	9,972	8,023
Total Liabilities	7,904	7,745	6,723	7,143	8,044	8,835	8,755	9,230	8,476	7,805	8,476
Total Current Liabilities	2,626	3,190	2,232	2,722	2,921	3,555	2,592	3,099	2,648	3,127	2,648
Short-Term Debt	0.00	499	0.00	19	245	584	63	479	0.00	185	0.00
Accounts Payable	1,626	1,728	1,420	1,808	1,725	2,058	1,603	1,786	1,604	1,748	1,604
Accrued Expenses	763	710	643	671	669	661	826	728	692	817	692
Current Employee Benefit Liabilities	237	253	169	224	282	252	100	106	352	377	352
Total Noncurrent Liabilities	5,278	4,555	4,491	4,421	5,123	5,280	6,163	6,131	5,828	4,678	5,828
Long-Term Debt	5,021	4,320	4,253	4,156	4,894	5,062	5,388	5,195	4,995	3,380	4,995
Other Noncurrent Operating Liabilities	242	225	234	265	229	218	775	936	833	1,298	833
Total Equity & Noncontrolling Interests	1,364	1,665	2,162	1,787	631	109	-1,199	-1,491	-453	2,167	-453
Total Preferred & Common Equity	1,364	1,665	2,162	1,787	631	109	-1,199	-1,491	-453	2,167	-453
Total Common Equity	1,364	1,665	2,162	1,787	631	109	-1,199	-1,491	-453	2,167	-453
Common Stock	6,152	6,377	6,545	6,757	6,977	7,190	7,373	7,471	7,706	8,078	7,706
Retained Earnings	-4,771	-4,696	-4,349	-4,904	-6,305	-7,117	-8,670	-8,960	-8,151	-5,911	-8,151
Accumulated Other Comprehensive Income / (Loss)	-17	-16	-34	-66	-41	36	98	-2.00	-8.00	0.00	-8.00

This table presents Seagate Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/29/2023	12/29/2023	3/29/2024	6/28/2024	9/27/2024	12/27/2024	3/28/2025	10/3/2025	1/2/2026	4/3/2026
Total Assets	7,556	7,196	7,149	7,096	7,739	7,972	7,959	7,564	8,442	8,708	8,892
Total Current Assets	2,905	2,636	2,628	2,615	3,332	3,608	3,662	3,282	4,032	4,209	4,299
Cash & Equivalents	786	795	787	795	1,358	1,239	1,238	814	1,112	1,046	1,146
Accounts Receivable	621	521	471	332	429	628	587	622	1,073	1,246	1,197
Inventories, net	1,140	1,052	1,053	1,191	1,239	1,383	1,473	1,472	1,496	1,498	1,530
Other Current Assets	358	268	317	297	306	358	364	374	351	419	426
Plant, Property, & Equipment, net	1,706	1,652	1,642	1,639	1,614	1,599	1,595	1,613	1,688	1,771	1,852
Total Noncurrent Assets	2,945	2,908	2,879	2,842	2,793	2,765	2,702	2,669	2,722	2,728	2,741
Goodwill	1,237	1,237	1,237	1,237	1,219	1,219	1,219	1,219	1,221	1,221	1,221
Noncurrent Deferred & Refundable Income Taxes	1,117	1,087	1,074	1,052	1,037	1,038	1,032	1,026	1,091	1,088	1,099
Other Noncurrent Operating Assets	591	584	568	553	537	508	451	424	410	419	421
Total Liabilities & Shareholders' Equity	7,556	7,196	7,149	7,096	7,739	7,972	7,959	7,564	8,442	8,708	8,892
Total Liabilities	8,755	8,898	8,963	8,985	9,230	9,272	9,038	8,393	8,505	8,249	7,797
Total Current Liabilities	2,592	2,473	2,529	3,062	3,099	3,161	2,969	2,412	4,117	3,761	3,241
Short-Term Debt	63	0.00	0.00	479	479	479	479	0.00	1,496	998	398
Accounts Payable	1,603	1,511	1,619	1,672	1,786	1,778	1,567	1,467	1,673	1,771	1,694
Accrued Expenses	826	874	824	836	728	756	719	703	736	739	841
Current Employee Benefit Liabilities	100	88	86	75	106	148	204	242	212	253	308
Total Noncurrent Liabilities	6,163	6,425	6,434	5,923	6,131	6,111	6,069	5,981	4,388	4,488	4,556
Long-Term Debt	5,388	5,666	5,669	5,192	5,195	5,197	5,200	5,146	3,498	3,501	3,465
Other Noncurrent Operating Liabilities	775	759	765	731	936	914	869	835	890	987	1,091
Total Equity & Noncontrolling Interests	-1,199	-1,702	-1,814	-1,889	-1,491	-1,300	-1,079	-829	-63	459	1,095
Total Preferred & Common Equity	-1,199	-1,702	-1,814	-1,889	-1,491	-1,300	-1,079	-829	-63	459	1,095
Total Common Equity	-1,199	-1,702	-1,814	-1,889	-1,491	-1,300	-1,079	-829	-63	459	1,095
Common Stock	7,373	7,338	7,377	7,433	7,471	7,533	7,577	7,648	7,780	7,890	8,021
Retained Earnings	-8,670	-9,025	-9,194	-9,319	-8,960	-8,831	-8,654	-8,476	-7,835	-7,423	-6,918
Accumulated Other Comprehensive Income / (Loss)	98	-15	3.00	-3.00	-2.00	-2.00	-2.00	-1.00	-8.00	-8.00	-8.00

This table displays calculated financial ratios and metrics derived from Seagate Technology's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027
Period end date	6/30/2017	6/29/2018	6/28/2019	7/3/2020	7/2/2021	7/1/2022	6/30/2023	6/28/2024	6/27/2025	7/3/2026	6/27/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.49%	3.83%	-7.10%	1.15%	1.64%	9.18%	-36.68%	-11.28%	38.86%	34.06%	0.00%
EBITDA Growth	38.70%	24.80%	-7.27%	-22.45%	23.30%	21.09%	-94.53%	711.54%	95.92%	111.47%	0.00%
EBIT Growth	120.91%	57.66%	-6.44%	-19.78%	29.10%	22.99%	-119.89%	306.53%	129.58%	125.50%	0.00%
NOPAT Growth	147.88%	36.42%	60.10%	-42.00%	14.99%	32.02%	-112.47%	242.13%	439.29%	92.51%	0.00%
Net Income Growth	211.29%	53.11%	70.22%	-50.10%	30.88%	25.49%	-132.08%	163.33%	338.51%	116.75%	0.00%
EPS Growth	214.63%	56.98%	74.32%	-46.32%	41.42%	37.31%	-134.78%	161.72%	328.48%	105.32%	0.00%
Operating Cash Flow Growth	14.05%	10.28%	-16.66%	-2.67%	-5.13%	1.91%	-43.15%	-2.55%	17.97%	239.24%	0.00%
Free Cash Flow Firm Growth	217.12%	-66.16%	353.45%	-53.39%	-7.08%	18.33%	6.97%	-31.60%	2.83%	212.73%	0.00%
Invested Capital Growth	-15.53%	20.41%	-9.41%	1.07%	7.57%	12.69%	-32.57%	-18.49%	29.24%	10.33%	0.00%
Revenue Q/Q Growth	-2.25%	3.99%	-4.27%	1.41%	4.87%	-3.20%	-12.20%	4.55%	6.52%	10.76%	0.00%
EBITDA Q/Q Growth	2.78%	15.01%	-8.02%	-8.87%	21.77%	-7.29%	-73.36%	114.00%	-2.41%	30.44%	0.00%
EBIT Q/Q Growth	7.56%	25.47%	-10.43%	-9.07%	28.57%	-9.87%	-697.92%	320.74%	-2.63%	32.78%	0.00%
NOPAT Q/Q Growth	7.00%	31.87%	36.39%	-40.83%	17.68%	-6.69%	-4,175.00%	196.40%	17.05%	28.16%	0.00%
Net Income Q/Q Growth	6.04%	41.56%	35.03%	-44.87%	31.66%	-11.11%	-228.57%	224.07%	-1.67%	33.89%	0.00%
EPS Q/Q Growth	6.17%	41.61%	37.35%	-43.01%	34.00%	-8.68%	-212.20%	221.54%	-2.73%	31.88%	0.00%
Operating Cash Flow Q/Q Growth	-1.34%	11.92%	-1.12%	-3.38%	5.86%	-15.24%	4.20%	30.77%	7.33%	27.70%	0.00%
Free Cash Flow Firm Q/Q Growth	-1.65%	-63.61%	7,201.63%	-54.44%	2.58%	-13.18%	95.61%	-25.42%	-4.06%	28.94%	0.00%
Invested Capital Q/Q Growth	0.87%	42.06%	-13.02%	-1.00%	3.33%	4.32%	-17.24%	-5.42%	4.23%	5.67%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.47%	30.08%	28.22%	27.04%	27.31%	29.75%	18.30%	23.45%	35.18%	45.58%	35.18%
EBITDA Margin	16.47%	19.80%	19.76%	15.15%	18.38%	20.38%	1.76%	16.10%	22.72%	35.84%	22.72%
Operating Margin	9.79%	14.61%	14.31%	12.37%	13.97%	16.77%	-4.63%	6.90%	20.78%	33.57%	20.78%
EBIT Margin	9.52%	14.45%	14.55%	11.54%	14.66%	16.52%	-5.19%	12.07%	19.96%	33.58%	19.96%
Profit (Net Income) Margin	7.17%	10.57%	19.36%	9.55%	12.30%	14.14%	-7.16%	5.11%	16.15%	26.11%	16.15%
Tax Burden Percent	94.72%	83.36%	146.65%	97.29%	97.48%	98.21%	106.65%	75.28%	97.09%	86.29%	97.09%
Interest Burden Percent	79.51%	87.75%	90.74%	85.08%	86.08%	87.18%	129.50%	56.26%	83.32%	90.11%	83.32%
Effective Tax Rate	5.28%	16.64%	-46.65%	2.71%	2.52%	1.79%	0.00%	24.72%	2.91%	13.71%	2.91%
Return on Invested Capital (ROIC)	23.77%	32.14%	49.41%	29.99%	33.05%	39.59%	-5.56%	10.82%	56.67%	92.01%	50.26%
ROIC Less NNEP Spread (ROIC-NNEP)	15.45%	25.53%	42.67%	18.36%	28.65%	33.54%	-11.54%	10.70%	47.98%	80.32%	41.34%
Return on Net Nonoperating Assets (RNNOA)	28.44%	45.91%	55.73%	20.86%	75.63%	406.09%	102.63%	-35.72%	-207.80%	279.52%	-374.54%
Return on Equity (ROE)	52.22%	78.05%	105.15%	50.85%	108.68%	445.68%	97.06%	-24.91%	-151.13%	371.53%	-324.28%
Cash Return on Invested Capital (CROIC)	40.61%	13.61%	59.29%	28.92%	25.76%	27.65%	33.34%	31.20%	31.16%	82.19%	0.00%
Operating Return on Assets (OROA)	11.73%	17.30%	16.53%	13.62%	17.79%	21.86%	-4.64%	10.34%	23.04%	45.51%	22.63%
Return on Assets (ROA)	8.83%	12.66%	22.00%	11.27%	14.93%	18.72%	-6.41%	4.38%	18.64%	35.39%	18.31%
Return on Common Equity (ROCE)	52.22%	78.05%	105.15%	50.85%	108.68%	445.68%	97.06%	-24.91%	-151.13%	371.53%	-324.28%
Return on Equity Simple (ROE_SIMPLE)	56.60%	70.99%	93.06%	56.18%	208.24%	1,512.84%	44.12%	-22.47%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	998	1,362	2,181	1,265	1,454	1,920	-239	340	1,835	3,533	1,835
NOPAT Margin	9.27%	12.18%	20.99%	12.03%	13.62%	16.47%	-3.24%	5.19%	20.17%	28.97%	20.17%
Net Nonoperating Expense Percent (NNEP)	8.32%	6.61%	6.75%	11.62%	4.40%	6.05%	5.97%	0.12%	8.69%	11.69%	8.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	40.40%	61.63%	40.40%
Cost of Revenue to Revenue	70.53%	69.92%	71.78%	72.96%	72.69%	70.25%	81.70%	76.55%	64.82%	54.42%	64.82%
SG&A Expenses to Revenue	5.63%	5.03%	4.36%	4.50%	4.70%	4.79%	6.65%	7.02%	6.17%	4.73%	6.17%
R&D to Revenue	11.44%	9.17%	9.54%	9.26%	8.45%	8.07%	10.79%	9.98%	7.96%	6.19%	7.96%
Operating Expenses to Revenue	19.68%	15.47%	13.91%	14.67%	13.34%	12.98%	22.93%	16.55%	14.40%	12.00%	14.40%
Earnings before Interest and Taxes (EBIT)	1,025	1,616	1,512	1,213	1,566	1,926	-383	791	1,816	4,095	1,816
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,774	2,214	2,053	1,592	1,963	2,377	130	1,055	2,067	4,371	2,067
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.13	7.49	4.91	5.83	28.18	125.55	0.00	0.00	0.00	84.87	0.00
Price to Tangible Book Value (P/TBV)	0.00	51.98	13.05	21.16	0.00	0.00	0.00	0.00	0.00	194.40	0.00
Price to Revenue (P/Rev)	0.78	1.12	1.02	0.99	1.67	1.17	1.68	3.31	3.29	15.08	3.30
Price to Earnings (P/E)	10.84	10.55	5.28	10.37	13.53	8.30	0.00	64.73	20.37	57.70	20.43
Dividend Yield	8.93%	5.80%	6.57%	6.36%	4.26%	4.35%	4.68%	2.71%	2.03%	0.36%	2.02%
Earnings Yield	9.23%	9.48%	18.94%	9.64%	7.39%	12.05%	0.00%	1.54%	4.91%	1.73%	4.89%
Enterprise Value to Invested Capital (EV/IC)	2.82	3.33	3.02	3.03	4.76	3.64	4.92	9.20	9.32	46.12	9.35
Enterprise Value to Revenue (EV/Rev)	1.01	1.38	1.22	1.22	2.03	1.61	2.31	3.97	3.74	15.23	3.75
Enterprise Value to EBITDA (EV/EBITDA)	6.12	6.97	6.17	8.08	11.06	7.87	131.16	24.65	16.46	42.50	16.51
Enterprise Value to EBIT (EV/EBIT)	10.59	9.55	8.37	10.61	13.87	9.72	0.00	32.87	18.74	45.36	18.79
Enterprise Value to NOPAT (EV/NOPAT)	10.87	11.34	5.80	10.17	14.93	9.75	0.00	76.41	18.54	52.59	18.59
Enterprise Value to Operating Cash Flow (EV/OCF)	5.66	7.31	7.19	7.51	13.35	11.30	18.10	28.32	31.42	50.56	31.51
Enterprise Value to Free Cash Flow (EV/FCFF)	6.36	26.76	4.84	10.55	19.16	13.96	11.89	26.50	33.72	58.87	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.68	2.89	1.97	2.34	8.14	51.80	-4.55	-3.81	-11.03	1.65	-11.03
Long-Term Debt to Equity	3.68	2.59	1.97	2.33	7.76	46.44	-4.49	-3.48	-11.03	1.56	-11.03
Financial Leverage	1.84	1.80	1.31	1.14	2.64	12.11	-8.90	-3.34	-4.33	3.48	-9.06
Leverage Ratio	5.91	6.17	4.78	4.51	7.28	23.81	-15.14	-5.69	-8.11	10.50	-17.71
Compound Leverage Factor	4.70	5.41	4.34	3.84	6.27	20.76	-19.60	-3.20	-6.76	9.46	-14.76
Debt to Total Capital	78.64%	74.32%	66.30%	70.03%	89.06%	98.11%	128.20%	135.64%	109.97%	62.19%	109.97%
Short-Term Debt to Total Capital	0.00%	7.70%	0.00%	0.32%	4.25%	10.15%	1.48%	11.45%	0.00%	3.23%	0.00%
Long-Term Debt to Total Capital	78.64%	66.63%	66.30%	69.71%	84.82%	87.96%	126.72%	124.19%	109.97%	58.97%	109.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	21.36%	25.68%	33.70%	29.97%	10.94%	1.89%	-28.20%	-35.64%	-9.97%	37.81%	-9.97%
Debt to EBITDA	2.83	2.18	2.07	2.62	2.62	2.38	41.93	5.38	2.42	0.82	2.42
Net Debt to EBITDA	1.40	1.34	0.99	1.54	2.00	2.12	35.88	4.09	1.99	0.43	1.99
Long-Term Debt to EBITDA	2.83	1.95	2.07	2.61	2.49	2.13	41.45	4.92	2.42	0.77	2.42
Debt to NOPAT	5.03	3.54	1.95	3.30	3.53	2.94	-22.77	16.68	2.72	1.01	2.72
Net Debt to NOPAT	2.49	2.18	0.93	1.94	2.70	2.62	-19.49	12.68	2.24	0.53	2.24
Long-Term Debt to NOPAT	5.03	3.17	1.95	3.29	3.37	2.64	-22.51	15.27	2.72	0.96	2.72
Altman Z-Score	1.75	2.17	2.28	1.92	2.25	1.89	0.10	1.01	2.73	16.14	2.73
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.92	1.35	1.95	1.51	1.29	1.13	1.12	1.08	1.38	1.67	1.38
Quick Ratio	1.42	0.95	1.44	1.04	0.81	0.60	0.54	0.58	0.70	1.04	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,705	577	2,617	1,220	1,133	1,341	1,435	981	1,009	3,156	0.00
Operating Cash Flow to CapEx	406.79%	701.99%	377.90%	269.92%	346.70%	470.74%	0.00%	459.00%	508.45%	680.37%	508.45%
Free Cash Flow to Firm to Interest Expense	7.68	2.45	11.68	6.07	5.15	5.39	11.66	2.72	3.08	7.25	0.00
Operating Cash Flow to Interest Expense	8.63	8.95	7.86	8.53	7.39	6.65	7.66	2.54	3.30	8.45	3.30
Operating Cash Flow Less CapEx to Interest Expense	6.51	7.68	5.78	5.37	5.26	5.24	9.42	1.99	2.65	7.20	2.65
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.23	1.20	1.14	1.18	1.21	1.32	0.90	0.86	1.15	1.36	1.13
Accounts Receivable Turnover	8.56	9.39	9.56	9.99	9.40	8.67	6.86	12.48	13.11	9.78	9.49
Inventory Turnover	8.21	7.69	7.37	7.26	6.62	5.92	4.46	4.22	4.40	4.41	4.10
Fixed Asset Turnover	5.34	6.10	5.68	5.26	4.96	5.28	3.74	3.95	5.56	6.61	5.49
Accounts Payable Turnover	4.83	4.66	4.74	4.75	4.40	4.33	3.30	2.96	3.48	3.96	3.68
Days Sales Outstanding (DSO)	42.65	38.89	38.17	36.54	38.84	42.10	53.21	29.25	27.85	37.31	38.48
Days Inventory Outstanding (DIO)	44.44	47.49	49.50	50.27	55.14	61.69	81.83	86.57	82.91	82.79	89.13
Days Payable Outstanding (DPO)	75.50	78.27	77.03	76.84	83.05	84.28	110.75	123.33	104.91	92.17	99.28
Cash Conversion Cycle (CCC)	11.59	8.10	10.64	9.97	10.94	19.51	24.29	-7.50	5.84	27.93	28.33
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,846	4,631	4,195	4,240	4,561	5,140	3,466	2,825	3,651	4,028	3,651
Invested Capital Turnover	2.56	2.64	2.35	2.49	2.43	2.40	1.72	2.08	2.81	3.18	2.49
Increase / (Decrease) in Invested Capital	-707	785	-436	45	321	579	-1,674	-641	826	377	0.00
Enterprise Value (EV)	10,850	15,440	12,658	12,866	21,715	18,716	17,051	26,002	34,026	185,765	34,120
Market Capitalization	8,368	12,474	10,625	10,413	17,785	13,685	12,386	21,686	29,922	183,904	30,016
Book Value per Share	$4.60	$5.80	$7.81	$6.96	$2.76	$0.51	($5.79)	($7.10)	($2.13)	$9.66	($2.13)
Tangible Book Value per Share	($0.52)	$0.84	$2.94	$1.92	($2.77)	($5.29)	($11.76)	($12.91)	($7.89)	$4.22	($7.89)
Total Capital	6,385	6,484	6,415	5,962	5,770	5,755	4,252	4,183	4,542	5,732	4,542
Total Debt	5,021	4,819	4,253	4,175	5,139	5,646	5,451	5,674	4,995	3,565	4,995
Total Long-Term Debt	5,021	4,320	4,253	4,156	4,894	5,062	5,388	5,195	4,995	3,380	4,995
Net Debt	2,482	2,966	2,033	2,453	3,930	5,031	4,665	4,316	4,104	1,861	4,104
Capital Expenditures (CapEx)	471	301	466	635	469	352	-217	200	213	540	213
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-124	-234	-89	-311	-106	447	-410	-646	114	575	114
Debt-free Net Working Capital (DFNWC)	2,415	1,619	2,131	1,411	1,103	1,062	376	712	1,005	2,279	1,005
Net Working Capital (NWC)	2,415	1,120	2,131	1,392	858	478	313	233	1,005	2,094	1,005
Net Nonoperating Expense (NNE)	226	180	169	261	140	271	290	5.27	366	349	366
Net Nonoperating Obligations (NNO)	2,482	2,966	2,033	2,453	3,930	5,031	4,665	4,316	4,104	1,861	4,104
Total Depreciation and Amortization (D&A)	749	598	541	379	397	451	513	264	251	276	251
Debt-free, Cash-free Net Working Capital to Revenue	-1.15%	-2.09%	-0.86%	-2.96%	-0.99%	3.83%	-5.55%	-9.86%	1.25%	4.72%	1.25%
Debt-free Net Working Capital to Revenue	22.42%	14.48%	20.51%	13.43%	10.33%	9.11%	5.09%	10.87%	11.05%	18.69%	11.05%
Net Working Capital to Revenue	22.42%	10.01%	20.51%	13.25%	8.03%	4.10%	4.24%	3.56%	11.05%	17.17%	11.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.61	$4.10	$7.13	$3.83	$5.43	$7.50	($2.56)	$1.60	$6.93	$14.54	$6.93
Adjusted Weighted Average Basic Shares Outstanding	296M	288M	282M	262M	242M	220M	207M	209M	212M	219M	212M
Adjusted Diluted Earnings per Share	$2.58	$4.05	$7.06	$3.79	$5.36	$7.36	($2.56)	$1.58	$6.77	$13.90	$6.77
Adjusted Weighted Average Diluted Shares Outstanding	299M	292M	285M	265M	245M	224M	207M	212M	217M	229M	217M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	291.81M	287.18M	269.04M	514.92M	455.21M	417.51M	207.39M	420.39M	212.68M	226.64M	212.68M
Normalized Net Operating Profit after Tax (NOPAT)	1,167	1,436	1,026	1,345	1,462	1,923	42	318	1,859	3,646	1,859
Normalized NOPAT Margin	10.83%	12.84%	9.87%	12.79%	13.69%	16.49%	0.57%	4.85%	20.44%	29.90%	20.44%
Pre Tax Income Margin	7.57%	12.68%	13.21%	9.82%	12.62%	14.40%	-6.72%	6.79%	16.63%	30.26%	16.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.62	6.85	6.75	6.03	7.12	7.73	-3.11	2.19	5.54	9.41	5.54
NOPAT to Interest Expense	4.50	5.77	9.74	6.29	6.61	7.71	-1.95	0.94	5.59	8.12	5.59
EBIT Less CapEx to Interest Expense	2.50	5.57	4.67	2.88	4.99	6.32	-1.35	1.64	4.89	8.17	4.89
NOPAT Less CapEx to Interest Expense	2.38	4.50	7.65	3.13	4.48	6.30	-0.18	0.39	4.95	6.88	4.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	72.67%	61.42%	35.44%	67.03%	49.39%	36.99%	-110.02%	174.63%	40.84%	19.91%	40.84%
Augmented Payout Ratio	132.25%	91.96%	83.30%	151.69%	205.18%	146.09%	-187.15%	174.63%	40.84%	25.44%	40.84%

This table displays calculated financial ratios and metrics derived from Seagate Technology's official financial filings.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/29/2023	3/29/2024	6/28/2024	9/27/2024	12/27/2024	3/28/2025	6/27/2025	10/3/2025	1/2/2026	4/3/2026	7/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	218,073,067.00	224,228,992.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	218,073,067.00	224,228,992.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	3.43	5.78
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-17.59%	-11.02%	17.79%	49.11%	49.52%	30.51%	29.52%	21.26%	21.51%	44.07%	48.49%
EBITDA Growth	872.22%	201.01%	492.98%	1,045.00%	251.80%	147.50%	-7.54%	65.72%	85.28%	114.34%	163.20%
EBIT Growth	146.39%	142.28%	6,030.00%	1,194.44%	453.25%	215.33%	-7.99%	74.37%	96.71%	130.32%	179.26%
NOPAT Growth	177.50%	127.95%	1,545.10%	530.75%	439.72%	569.70%	88.16%	59.53%	50.93%	109.31%	137.93%
Net Income Growth	42.42%	105.77%	657.61%	265.76%	1,868.42%	1,260.00%	-4.87%	80.00%	76.49%	120.00%	165.16%
EPS Growth	43.75%	105.74%	640.00%	260.23%	1,822.22%	1,208.33%	-7.82%	72.34%	67.74%	108.28%	150.00%
Operating Cash Flow Growth	-32.67%	-17.54%	99.08%	-25.20%	30.77%	37.77%	17.05%	460.00%	227.15%	330.12%	156.89%
Free Cash Flow Firm Growth	3,789.39%	143.52%	-44.43%	-77.58%	-90.35%	-108.17%	-127.93%	-114.60%	-9.98%	637.74%	466.86%
Invested Capital Growth	-35.94%	-28.68%	-18.49%	-1.01%	9.58%	17.27%	29.24%	21.74%	16.36%	8.82%	10.33%
Revenue Q/Q Growth	6.95%	6.43%	14.02%	14.89%	7.24%	-7.10%	13.15%	0.00%	7.46%	10.16%	16.61%
EBITDA Q/Q Growth	247.50%	43.88%	238.00%	-32.25%	6.77%	1.23%	26.26%	0.00%	19.37%	17.11%	55.04%
EBIT Q/Q Growth	313.89%	77.92%	347.45%	-35.73%	8.12%	1.41%	30.56%	0.00%	21.98%	18.74%	58.29%
NOPAT Q/Q Growth	196.12%	-28.99%	385.75%	29.91%	20.44%	-11.89%	36.48%	0.00%	13.95%	22.20%	55.14%
Net Income Q/Q Growth	89.67%	231.58%	1,952.00%	-40.55%	10.16%	1.19%	43.53%	0.00%	8.01%	26.14%	72.99%
EPS Q/Q Growth	89.77%	233.33%	1,925.00%	-41.98%	9.93%	1.29%	42.68%	0.00%	7.00%	25.77%	71.25%
Operating Cash Flow Q/Q Growth	33.07%	11.24%	130.85%	-78.11%	132.63%	17.19%	96.14%	0.00%	35.90%	54.08%	17.15%
Free Cash Flow Firm Q/Q Growth	-3.72%	-30.16%	-25.52%	-55.24%	-58.55%	-159.15%	-154.45%	0.00%	355.53%	253.35%	73.59%
Invested Capital Q/Q Growth	-3.19%	-2.64%	-5.42%	11.04%	7.17%	4.19%	4.23%	0.00%	2.44%	-2.56%	5.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	23.28%	25.68%	31.80%	32.93%	34.92%	35.19%	37.40%	39.44%	41.63%	46.50%	52.30%
EBITDA Margin	8.94%	12.08%	35.82%	21.13%	21.03%	22.92%	25.57%	28.87%	32.07%	34.09%	45.33%
Operating Margin	7.97%	8.64%	16.64%	18.59%	20.99%	19.95%	23.24%	26.40%	29.84%	32.07%	42.96%
EBIT Margin	4.95%	8.28%	32.49%	18.17%	18.32%	20.00%	23.08%	26.13%	29.66%	31.97%	43.40%
Profit (Net Income) Margin	-1.22%	1.51%	27.19%	14.07%	14.45%	15.74%	19.97%	20.88%	20.99%	24.04%	35.66%
Tax Burden Percent	475.00%	43.10%	95.35%	96.52%	96.00%	95.77%	99.19%	89.41%	83.88%	86.57%	85.98%
Interest Burden Percent	-5.19%	42.34%	87.77%	80.20%	82.16%	82.18%	87.23%	89.37%	84.37%	86.83%	95.56%
Effective Tax Rate	0.00%	56.90%	4.65%	3.48%	4.00%	4.23%	0.81%	10.59%	16.12%	13.43%	14.02%
Return on Invested Capital (ROIC)	9.19%	6.51%	33.05%	41.34%	50.36%	50.29%	64.76%	0.00%	69.22%	83.58%	117.32%
ROIC Less NNEP Spread (ROIC-NNEP)	7.11%	5.78%	37.80%	39.54%	47.52%	48.71%	62.97%	0.00%	66.33%	80.28%	115.76%
Return on Net Nonoperating Assets (RNNOA)	-31.56%	-20.11%	-126.21%	-122.58%	-153.13%	-165.03%	-272.75%	0.00%	-844.49%	2,127.54%	402.87%
Return on Equity (ROE)	-22.37%	-13.60%	-93.16%	-81.24%	-102.77%	-114.74%	-207.99%	0.00%	-775.27%	2,211.12%	520.19%
Cash Return on Invested Capital (CROIC)	38.57%	36.68%	31.20%	29.34%	30.03%	32.41%	31.16%	-19.61%	48.24%	66.92%	82.19%
Operating Return on Assets (OROA)	4.27%	6.89%	27.83%	17.41%	19.49%	23.30%	26.64%	0.00%	35.80%	42.78%	58.82%
Return on Assets (ROA)	-1.05%	1.26%	23.29%	13.48%	15.37%	18.34%	23.05%	0.00%	25.34%	32.16%	48.33%
Return on Common Equity (ROCE)	-22.37%	-13.60%	-93.16%	-81.24%	-102.77%	-114.74%	-207.99%	0.00%	-775.27%	2,211.12%	520.19%
Return on Equity Simple (ROE_SIMPLE)	40.13%	14.29%	0.00%	-63.38%	-109.27%	-180.22%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	87	62	299	389	468	413	563	621	707	864	1,340
NOPAT Margin	5.58%	3.72%	15.87%	17.94%	20.15%	19.11%	23.05%	23.60%	25.03%	27.76%	36.94%
Net Nonoperating Expense Percent (NNEP)	2.09%	0.73%	-4.76%	1.80%	2.84%	1.58%	1.79%	1.72%	2.89%	3.29%	1.56%
Return On Investment Capital (ROIC_SIMPLE)	2.25%	-	-	-	10.18%	9.56%	12.40%	12.58%	14.26%	17.43%	23.39%
Cost of Revenue to Revenue	76.72%	74.32%	68.20%	67.07%	65.08%	64.81%	62.60%	60.56%	58.37%	53.50%	47.70%
SG&A Expenses to Revenue	6.95%	7.01%	6.94%	5.95%	5.98%	6.44%	6.30%	5.48%	5.06%	4.60%	4.05%
R&D to Revenue	10.35%	9.91%	8.37%	8.35%	7.91%	8.33%	7.32%	7.07%	6.62%	6.23%	5.18%
Operating Expenses to Revenue	15.31%	17.04%	15.16%	14.35%	13.94%	15.23%	14.16%	13.05%	11.79%	14.43%	9.34%
Earnings before Interest and Taxes (EBIT)	77	137	613	394	426	432	564	687	838	995	1,575
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	139	200	676	458	489	495	625	759	906	1,061	1,645
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	133.78	85.51	84.87
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	194.40
Price to Revenue (P/Rev)	2.68	3.09	3.31	3.15	2.30	2.11	3.29	0.00	6.11	8.50	15.08
Price to Earnings (P/E)	0.00	0.00	64.73	27.74	15.68	12.03	20.37	0.00	31.17	39.37	57.70
Dividend Yield	3.38%	3.03%	2.71%	2.57%	3.23%	3.34%	2.03%	1.14%	1.01%	0.68%	0.36%
Earnings Yield	0.00%	0.00%	1.54%	3.61%	6.38%	8.31%	4.91%	0.00%	3.21%	2.54%	1.73%
Enterprise Value to Invested Capital (EV/IC)	7.25	8.12	9.20	8.70	6.82	6.37	9.32	15.09	16.58	25.28	46.12
Enterprise Value to Revenue (EV/Rev)	3.44	3.87	3.97	3.76	2.85	2.61	3.74	0.00	6.45	8.75	15.23
Enterprise Value to EBITDA (EV/EBITDA)	234.02	49.17	24.65	18.53	12.58	10.53	16.46	0.00	23.29	28.75	42.50
Enterprise Value to EBIT (EV/EBIT)	0.00	128.95	32.87	22.35	14.60	11.96	18.74	0.00	25.73	31.24	45.36
Enterprise Value to NOPAT (EV/NOPAT)	0.00	211.17	76.41	30.57	18.21	14.23	18.54	0.00	28.15	34.95	52.59
Enterprise Value to Operating Cash Flow (EV/OCF)	29.96	34.53	28.32	30.81	24.44	22.11	31.42	0.00	32.08	33.49	50.56
Enterprise Value to Free Cash Flow (EV/FCFF)	14.67	18.42	26.50	29.51	23.75	21.21	33.72	0.00	36.97	39.37	58.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-3.13	-3.00	-3.81	-4.37	-5.26	-6.21	-11.03	-79.27	9.80	3.53	1.65
Long-Term Debt to Equity	-3.13	-2.75	-3.48	-4.00	-4.82	-6.21	-11.03	-55.52	7.63	3.16	1.56
Financial Leverage	-4.44	-3.48	-3.34	-3.10	-3.22	-3.39	-4.33	-6.10	-12.73	26.50	3.48
Leverage Ratio	-6.57	-5.21	-5.69	-5.05	-5.22	-5.39	-8.11	-12.04	-26.88	61.86	10.50
Compound Leverage Factor	0.34	-2.20	-4.99	-4.05	-4.29	-4.43	-7.07	-10.76	-22.68	53.72	10.03
Debt to Total Capital	147.06%	149.95%	135.64%	129.71%	123.46%	119.20%	109.97%	101.28%	90.74%	77.91%	62.19%
Short-Term Debt to Total Capital	0.00%	12.67%	11.45%	10.95%	10.41%	0.00%	0.00%	30.34%	20.13%	8.03%	3.23%
Long-Term Debt to Total Capital	147.06%	137.28%	124.19%	118.76%	113.04%	119.20%	109.97%	70.94%	70.61%	69.89%	58.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-47.06%	-49.95%	-35.64%	-29.71%	-23.46%	-19.20%	-9.97%	-1.28%	9.26%	22.09%	37.81%
Debt to EBITDA	59.67	11.50	5.38	3.85	3.12	2.43	2.42	0.00	1.62	1.15	0.82
Net Debt to EBITDA	51.39	9.89	4.09	3.01	2.44	2.05	1.99	0.00	1.24	0.81	0.43
Long-Term Debt to EBITDA	59.67	10.53	4.92	3.53	2.85	2.43	2.42	0.00	1.26	1.03	0.77
Debt to NOPAT	-27.55	49.40	16.68	6.36	4.51	3.28	2.72	0.00	1.95	1.40	1.01
Net Debt to NOPAT	-23.72	42.47	12.68	4.97	3.53	2.76	2.24	0.00	1.50	0.99	0.53
Long-Term Debt to NOPAT	-27.55	45.23	15.27	5.82	4.13	3.28	2.72	0.00	1.52	1.26	0.96
Altman Z-Score	0.32	0.33	0.93	1.07	1.00	1.17	2.21	2.75	4.81	7.87	15.30
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.04	0.85	1.08	1.14	1.23	1.36	1.38	0.98	1.12	1.33	1.67
Quick Ratio	0.50	0.37	0.58	0.59	0.61	0.60	0.70	0.53	0.61	0.72	1.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,808	1,263	940	421	174	-103	-263	-61	157	555	963
Operating Cash Flow to CapEx	241.43%	361.54%	1,009.30%	139.71%	311.27%	784.85%	1,209.52%	506.67%	623.28%	683.44%	836.54%
Free Cash Flow to Firm to Interest Expense	21.52	15.40	11.47	4.95	2.08	-1.27	-3.37	-0.77	1.14	4.05	12.04
Operating Cash Flow to Interest Expense	2.01	2.29	5.29	1.12	2.63	3.20	6.51	6.65	5.24	8.13	16.31
Operating Cash Flow Less CapEx to Interest Expense	1.18	1.66	4.77	0.32	1.79	2.79	5.97	5.34	4.40	6.94	14.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.86	0.83	0.86	0.96	1.06	1.17	1.15	0.00	1.21	1.34	1.36
Accounts Receivable Turnover	9.87	9.45	12.48	12.65	15.19	17.90	13.11	0.00	10.97	12.11	9.78
Inventory Turnover	4.75	4.20	4.22	4.24	4.34	4.25	4.40	0.00	4.15	4.29	4.41
Fixed Asset Turnover	3.44	3.69	3.95	4.47	4.96	5.25	5.56	0.00	5.98	6.36	6.61
Accounts Payable Turnover	3.95	2.98	2.96	3.14	3.44	3.60	3.48	0.00	3.70	4.07	3.96
Days Sales Outstanding (DSO)	36.97	38.62	29.25	28.86	24.03	20.39	27.85	0.00	33.26	30.15	37.31
Days Inventory Outstanding (DIO)	76.84	86.82	86.57	86.05	84.06	85.96	82.91	0.00	87.86	85.13	82.79
Days Payable Outstanding (DPO)	92.46	122.33	123.33	116.24	106.03	101.32	104.91	0.00	98.72	89.63	92.17
Cash Conversion Cycle (CCC)	21.35	3.11	-7.50	-1.32	2.07	5.02	5.84	0.00	22.41	25.64	27.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,068	2,987	2,825	3,137	3,362	3,503	3,651	3,819	3,912	3,812	4,028
Invested Capital Turnover	1.65	1.75	2.08	2.30	2.50	2.63	2.81	0.00	2.77	3.01	3.18
Increase / (Decrease) in Invested Capital	-1,721	-1,201	-641	-32	294	516	826	682	550	309	377
Enterprise Value (EV)	22,232	24,242	26,002	27,294	22,927	22,310	34,026	57,645	64,859	96,349	185,765
Market Capitalization	17,350	19,366	21,686	22,857	18,486	17,978	29,922	53,763	61,406	93,632	183,904
Book Value per Share	($8.67)	($9.02)	($7.10)	($6.18)	($5.10)	($3.92)	($2.13)	($0.30)	$2.15	$5.02	$9.66
Tangible Book Value per Share	($14.59)	($14.92)	($12.91)	($11.98)	($10.86)	($9.67)	($7.89)	($6.04)	($3.57)	($0.58)	$4.22
Total Capital	3,855	3,782	4,183	4,376	4,600	4,317	4,542	4,931	4,958	4,958	5,732
Total Debt	5,669	5,671	5,674	5,676	5,679	5,146	4,995	4,994	4,499	3,863	3,565
Total Long-Term Debt	5,669	5,192	5,195	5,197	5,200	5,146	4,995	3,498	3,501	3,465	3,380
Net Debt	4,882	4,876	4,316	4,437	4,441	4,332	4,104	3,882	3,453	2,717	1,861
Capital Expenditures (CapEx)	70	52	43	68	71	33	42	105	116	163	156
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-688	-763	-646	-313	-66	56	114	299	400	310	575
Debt-free Net Working Capital (DFNWC)	99	32	712	926	1,172	870	1,005	1,411	1,446	1,456	2,279
Net Working Capital (NWC)	99	-447	233	447	693	870	1,005	-85	448	1,058	2,094
Net Nonoperating Expense (NNE)	106	37	-214	84	132	73	75	72	114	116	46
Net Nonoperating Obligations (NNO)	4,882	4,876	4,316	4,437	4,441	4,332	4,104	3,882	3,453	2,717	1,861
Total Depreciation and Amortization (D&A)	62	63	63	64	63	63	61	72	68	66	70
Debt-free, Cash-free Net Working Capital to Revenue	-10.63%	-12.18%	-9.86%	-4.31%	-0.82%	0.66%	1.25%	0.00%	3.98%	2.82%	4.72%
Debt-free Net Working Capital to Revenue	1.53%	0.51%	10.87%	12.75%	14.59%	10.19%	11.05%	0.00%	14.38%	13.22%	18.69%
Net Working Capital to Revenue	1.53%	-7.13%	3.56%	6.15%	8.62%	10.19%	11.05%	0.00%	4.45%	9.61%	17.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.09)	$0.12	$2.45	$1.45	$1.58	$1.60	$2.30	$0.00	$2.75	$3.38	$5.83
Adjusted Weighted Average Basic Shares Outstanding	209M	210M	209M	211M	212M	212M	212M	0.00	216M	221M	219M
Adjusted Diluted Earnings per Share	($0.09)	$0.12	$2.43	$1.41	$1.55	$1.57	$2.24	$0.00	$2.60	$3.27	$5.60
Adjusted Weighted Average Diluted Shares Outstanding	209M	213M	212M	216M	217M	216M	217M	0.00	228M	229M	229M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	209.51M	209.99M	420.39M	211.53M	211.71M	212.22M	212.68M	0.00	218.07M	224.23M	226.64M
Normalized Net Operating Profit after Tax (NOPAT)	65	102	297	390	469	422	576	632	710	961	1,344
Normalized NOPAT Margin	4.19%	6.13%	15.72%	17.99%	20.19%	19.55%	23.58%	24.05%	25.12%	30.88%	37.03%
Pre Tax Income Margin	-0.26%	3.50%	28.51%	14.58%	15.05%	16.44%	20.13%	23.35%	25.03%	27.76%	41.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.92	1.67	7.48	4.64	5.07	5.33	7.23	8.59	6.07	7.26	19.69
NOPAT to Interest Expense	1.03	0.75	3.65	4.58	5.58	5.10	7.22	7.76	5.12	6.31	16.76
EBIT Less CapEx to Interest Expense	0.08	1.04	6.95	3.84	4.23	4.93	6.69	7.28	5.23	6.07	17.74
NOPAT Less CapEx to Interest Expense	0.20	0.12	3.13	3.78	4.73	4.69	6.68	6.44	4.28	5.12	14.81
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-79.81%	-215.93%	174.63%	71.24%	49.96%	39.76%	40.84%	0.00%	31.07%	26.11%	19.91%
Augmented Payout Ratio	-79.81%	-215.93%	174.63%	71.24%	49.96%	39.76%	40.84%	0.00%	32.54%	28.60%	25.44%

Financials Breakdown Chart

Key Financial Trends

Seagate Technology’s financial results show a sharp recovery in fiscal 2026. Revenue increased from $1.60 billion in Q4 fiscal 2023 to $2.44 billion in Q4 fiscal 2025 and $3.63 billion in Q4 fiscal 2026. The latest quarter’s revenue rose approximately 48.5% year over year and 16.6% sequentially from Q3 fiscal 2026.

Profitability improved even more quickly. Q4 fiscal 2026 gross profit was $1.90 billion, representing a gross margin of approximately 52.3%, compared with 37.4% in Q4 fiscal 2025. Operating income reached $1.56 billion, while net income attributable to common shareholders increased to $1.30 billion, or $5.60 per diluted share, from $488 million, or $2.24 per diluted share, a year earlier.

The broader trend is a recovery from the losses reported during fiscal 2023 and early fiscal 2024. Seagate’s quarterly net income rose from losses of $433 million in Q3 fiscal 2023 and $184 million in Q1 fiscal 2024 to $1.29 billion in Q4 fiscal 2026. Research and development spending has remained relatively steady near $180 million to $200 million per quarter, suggesting the recent earnings improvement has been driven primarily by revenue growth and stronger gross margins rather than substantial cuts to innovation spending.

Cash generation also strengthened. Operating cash flow increased from $259 million in Q3 fiscal 2025 to $508 million in Q4 fiscal 2025, then reached $532 million, $723 million, $1.11 billion and $1.31 billion during fiscal 2026’s first four quarters. Q4 fiscal 2026 operating cash flow was slightly above net income, indicating strong earnings conversion. The company generated $558 million of net cash during the quarter despite capital expenditures of $187 million, debt repayments of $302 million, dividends of $166 million and share repurchases of $117 million.

The balance sheet has improved from the deeply negative equity position reported in fiscal 2023 and fiscal 2024. Total equity increased from negative $1.89 billion in Q3 fiscal 2024 to positive $1.10 billion in Q3 fiscal 2026. Cash was $1.15 billion in Q3 fiscal 2026, while total debt declined to approximately $3.86 billion from nearly $5.00 billion in Q1 fiscal 2026. However, liquidity remains closely tied to continued operating cash flow because inventories were $1.53 billion and current liabilities totaled $3.24 billion at the latest reported balance-sheet date.

Strong revenue acceleration: Q4 fiscal 2026 revenue reached $3.63 billion, up substantially from $2.44 billion in the comparable quarter and more than double the $1.60 billion reported in Q4 fiscal 2023.
Significant margin expansion: Gross margin improved to approximately 52.3% in Q4 fiscal 2026 from about 37.4% a year earlier, while operating margin rose to approximately 43.0%.
Rapid earnings growth: Net income attributable to common shareholders rose to $1.30 billion, and diluted EPS increased to $5.60 from $2.24 year over year.
Excellent operating cash flow: Quarterly operating cash flow reached $1.31 billion in Q4 fiscal 2026, up from $508 million in Q4 fiscal 2025 and $259 million in Q3 fiscal 2025.
Debt reduction: Debt repayments of $302 million in Q4 fiscal 2026 followed $647 million in Q3 and $504 million in Q2, helping reduce total debt materially during fiscal 2026.
Balance-sheet recovery: Shareholders’ equity improved to positive $1.10 billion by Q3 fiscal 2026 from negative $1.30 billion in Q1 fiscal 2025 and negative $1.89 billion in Q3 fiscal 2024.
Shareholder returns remain funded: Seagate continued paying quarterly dividends and repurchased $117 million of common stock in Q4 fiscal 2026 while still producing substantial excess cash.
Capital investment is rising: Q4 fiscal 2026 capital expenditures of $187 million were higher than the $83 million reported in Q4 fiscal 2025, which may support future capacity but also increases near-term cash requirements.
Leverage remains material: Even after recent repayments, total debt was approximately $3.86 billion at Q3 fiscal 2026, while cash was $1.15 billion, leaving significant net debt.
Working-capital exposure persists: Inventories of $1.53 billion and accounts payable of $1.69 billion remain large relative to cash, making cash flow sensitive to demand, inventory turnover and payment timing.

08/23/26 11:59 AM ETAI Generated. May Contain Errors.

Seagate Technology Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Seagate Technology's financial year ends in June. Their financial year 2025 ended on June 27, 2025.

Seagate Technology's net income appears to be on an upward trend, with a most recent value of $1.47 billion in 2027, rising from $772 million in 2017. The previous period was $3.18 billion in 2026. View Seagate Technology's forecast to see where analysts expect Seagate Technology to go next.

Seagate Technology's total operating income in 2027 was $1.89 billion, based on the following breakdown:

Total Gross Profit: $3.20 billion
Total Operating Expenses: $1.31 billion

Over the last 10 years, Seagate Technology's total revenue changed from $10.77 billion in 2017 to $9.10 billion in 2027, a change of -15.5%.

Seagate Technology's total liabilities were at $8.48 billion at the end of 2027, a 8.6% increase from 2026, and a 7.2% increase since 2017.

In the past 10 years, Seagate Technology's cash and equivalents has ranged from $615 million in 2022 to $2.54 billion in 2017, and is currently $891 million as of their latest financial filing in 2027.

Over the last 10 years, Seagate Technology's book value per share changed from 4.60 in 2017 to -2.13 in 2027, a change of -146.4%.

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Financial statements for NASDAQ:STX last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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