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Seagate Technology Holdings plc engages in the provision of data storage technology and infrastructure solutions in Singapore, the United States, the Netherlands, and internationally. The company offers mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives. It also offers legacy applications comprising Mission Critical HDDs and SSDs; external storage solutions under the Seagate Ultra Touch, One Touch, Expansion, and Basics product lines, as well as under the LaCie brand name; desktop drives for personal computers and workstation applications; notebook drives traditional notebooks, convertible systems, and external storage applications, DVR HDDs for video streaming applications, and gaming SSDs for gaming rigs. In addition, the company provides Lyve edge-to-cloud mass capacity platform, that includes modular hardware and software to support enterprises' on-premise and cloud storage infrastructure needs. It sells its products primarily to original equipment manufacturers, distributors, and retailers. The company was founded in 1978 and is based in Singapore.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $9.1B | $2.1B | $1.5B | $818M | -324.3% | 38.9% | 338.5% |
| 2024 | $6.6B | $1.0B | $335M | $664M | -22.5% | -11.3% | -163.3% |
| 2023 | $7.4B | $330M | $-529M | $626M | 44.1% | -36.7% | -132.1% |
| 2022 | $11.7B | $2.4B | $1.6B | $1.3B | 1512.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 11,661 | 7,384 | 6,551 | 9,097 |
| Operating Revenue | - | 11,661 | 7,384 | 6,551 | 9,097 |
| Cost Of Revenue | - | 8,192 | 6,033 | 5,015 | 5,897 |
| Gross Profit | - | 3,469 | 1,351 | 1,536 | 3,200 |
| Operating Expense | - | 1,511 | 1,291 | 1,114 | 1,285 |
| Research And Development | - | 941 | 797 | 654 | 724 |
| Selling General And Administration | - | 559 | 491 | 460 | 561 |
| Total Expenses | - | 9,703 | 7,324 | 6,129 | 7,182 |
| Operating Income | - | 1,958 | 60 | 422 | 1,915 |
| Total Operating Income As Reported | - | 1,955 | -342 | 452 | 1,890 |
| EBITDA | - | 2,379 | 330 | 1,041 | 2,085 |
| Normalized EBITDA | - | 2,382 | 542 | 623 | 2,109 |
| EBIT | - | 1,928 | -183 | 777 | 1,834 |
| Interest Income | - | 2 | 10 | 15 | 25 |
| Interest Expense | - | 249 | 313 | 332 | 321 |
| Net Interest Income | - | -247 | -303 | -317 | -296 |
| Other Non Operating Income Expenses | - | -29 | -41 | -78 | -82 |
| Other Income Expense | - | -32 | -253 | 340 | -106 |
| Interest Income Non Operating | - | 2 | 10 | 15 | 25 |
| Interest Expense Non Operating | - | 249 | 313 | 332 | 321 |
| Net Non Operating Interest Income Expense | - | -247 | -303 | -317 | -296 |
| Pretax Income | - | 1,679 | -496 | 445 | 1,513 |
| Tax Provision | - | 30 | 33 | 110 | 44 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.05 | -44.52 | 103.33 | -0.70 |
| Net Income Continuous Operations | - | 1,649 | -529 | 335 | 1,469 |
| Net Income From Continuing And Discontinued Operation | - | 1,649 | -529 | 335 | 1,469 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,649 | -529 | 335 | 1,469 |
| Net Income | - | 1,649 | -529 | 335 | 1,469 |
| Net Income Common Stockholders | - | 1,649 | -529 | 335 | 1,469 |
| Net Income Including Noncontrolling Interests | - | 1,649 | -529 | 335 | 1,469 |
| Normalized Income | - | 1,651.95 | -353.04 | 20.33 | 1,492.30 |
| Diluted NI Availto Com Stockholders | - | 1,649 | -529 | 335 | 1,469 |
| Basic Average Shares | 242 | 220 | 207 | 209 | - |
| Diluted Average Shares | 245 | 224 | 207 | 212 | - |
| Reconciled Depreciation | - | 451 | 513 | 264 | 251 |
| Reconciled Cost Of Revenue | - | 7,752 | 5,523 | 4,751 | 5,646 |
| Total Unusual Items | - | -3 | -212 | 418 | -24 |
| Total Unusual Items Excluding Goodwill | - | -3 | -212 | 418 | -24 |
| Special Income Charges | - | -3 | -212 | 314 | -24 |
| Gain On Sale Of Business | - | 0 | 0 | 313 | 8 |
| Other Special Charges | - | - | 110 | 29 | 7 |
| Restructuring And Mergern Acquisition | - | 3 | 102 | -30 | 25 |
| Gain On Sale Of Security | - | - | - | 104 | - |
| Depreciation Amortization Depletion Income Statement | - | 11 | 3 | 0 | 0 |
| Depreciation And Amortization In Income Statement | - | 11 | 3 | 0 | 0 |
| Amortization | - | 11 | 3 | 0 | 0 |
| Amortization Of Intangibles Income Statement | - | 11 | 3 | 0 | 0 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Seagate Technology Holdings plcthis co. | STX | $209.5B | 142.62↑ premium | -462.49 | -324.3% | 102.45 |
| QUALCOMM Incorporated | QCOM | $255.7B | 46.14 | 12.06 | 26.1% | 17.75 |
| Palo Alto Networks, Inc. | PANW | $227.6B | 200.71 | 29.09 | 14.5% | 116.26 |
| Arista Networks, Inc. | ANET | $209.0B | 59.53 | 16.90 | 28.4% | 50.48 |
| Analog Devices, Inc. | ADI |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $208.8B |
| 92.11 |
| 6.18 |
| 6.7% |
| 42.76 |
| Western Digital Corporation | WDC | $198.4B | 107.81 | 35.81 | 33.2% | 103.70 |
| CrowdStrike Holdings, Inc. | CRWD | $183.1B | -1126.48 | 41.34 | -3.7% | 978.97 |
| Amphenol Corporation | APH | $180.6B | 42.28 | 13.46 | 31.8% | 26.84 |
| Corning Incorporated | GLW | $170.1B | 106.61 | 14.41 | 13.5% | 47.66 |
| Peer Median | - | 75.82 | 15.65 | 20.3% | 49.07 | |