Seagate Technology Holdings plc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Seagate Technology Holdings plc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	10,771	11,184	10,390	10,509	10,681	11,661	7,384	6,551	9,097	12,195
Cost of revenue	7,597	7,820	7,458	7,667	7,764	8,192	6,033	5,015	5,897	6,637
Gross profit	3,174	3,364	2,932	2,842	2,917	3,469	1,351	1,536	3,200	5,558
Research and development	1,232	1,026	991	973	903	941	797	654	724	755
Selling, general and administrative	606	562	453	473	502	559	491	460	561	577
Operating income	1,054	1,634	1,487	1,300	1,492	1,955	-342	452	1,890	4,094
Interest expense	222	236	224	201	220	249	313	332	321	284
Interest income	12	38	84	20	2	2	10	15	25	30
Other non-operating income	-239	-216	-115	-268	-144	-276	-154	-7	-377	-404
Pre-tax income	815	1,418	1,372	1,032	1,348	1,679	-496	445	1,513	3,690
Income tax	43	236	-640	28	34	30	33	110	44	506
Net income	772	1,182	2,012	1,004	1,314	1,649	-529	335	1,469	3,184
EBITDA	1,803	2,232	2,028	1,679	1,889	2,406	171	716	2,141	4,370
EPS, basic	2.61	4.10	7.13	3.83	5.43	7.50	-2.56	1.60	6.93	14.54
EPS, diluted	2.58	4.05	7.06	3.79	5.36	7.36	-2.56	1.58	6.77	13.90
Shares, basic (weighted)	296	288	282	262	242	220	207	209	212	219
Shares, diluted (weighted)	299	292	285	265	245	224	207	212	217	229
Dividend per share	2.52	2.52	2.52	2.58	2.66	2,770,000.00	2.80	2.80	2.86	2.94

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	2,539	1,853	2,220	1,722	1,209	615	786	1,358	891	1,704
Receivables	1,199	1,184	989	1,115	1,158	1,532	621	429	959	1,534
Inventory	982	1,053	970	1,142	1,204	1,565	1,140	1,239	1,440	1,571
Other current assets	321	220	184	135	208	321	358	306	363	412
Total current assets	5,041	4,310	4,363	4,114	3,779	4,033	2,905	3,332	3,653	5,221
Property, plant and equipment	1,875	1,792	1,869	2,129	2,181	2,239	1,706	1,614	1,657	2,034
Lease right-of-use assets				103	97	94	396	403	353	323
Goodwill	1,238	1,237	1,237	1,237	1,237	1,237	1,237	1,219	1,221	1,221
Intangible assets	281	188	111	58	29	9	0
Other non-current assets	224	191	191	272	332	294	591	537	426	391
Total assets	9,268	9,410	8,885	8,930	8,675	8,944	7,556	7,739	8,023	9,972
Accounts payable	1,626	1,728	1,420	1,808	1,725	2,058	1,603	1,786	1,604	1,748
Accrued liabilities	650	598	552	602	608	596	748	654	632	744
Short-term debt	0	499	0	19	245	584	63	479	0	185
Total current liabilities	2,626	3,190	2,232	2,722	2,921	3,555	2,592	3,099	2,648	3,127
Long-term debt	5,021	4,320	4,253	4,156	4,894	5,062	5,388	5,195	4,995	3,380
Lease liabilities				49	39	36	333	338	317	293
Other non-current liabilities	122	100	130	183	154	135	685	861	756	1,173
Total liabilities	7,904	7,745	6,723	7,143	8,044	8,835	8,755	9,230	8,476	7,805
Total debt	5,021	4,320	4,253	4,175	5,139	964	5,451	5,674	4,995	3,565
Paid-in capital	6,152	6,377	6,545	6,757	6,977	7,190	7,373	7,471	7,706	8,078
Retained earnings	-4,771	-4,696	-4,349	-4,904	-6,305	-7,117	-8,670	-8,960	-8,151	-5,911
Other comprehensive income	-17	-16	-34	-66	-41	36	98	-2	-8	0
Shareholders' equity	1,364	1,665	2,162	1,787	631	109	-1,199	-1,491	-453	2,167
Total equity	1,364	1,665	2,162	1,787	631	109	-1,199	-1,491	-453	2,167
Total liabilities and equity	9,268	9,410	8,885	8,930	8,675	8,944	7,556	7,739	8,023	9,972
Shares outstanding	292	287	269	257	227	210	207	210	213	227

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	772	1,182	2,012	1,004	1,314	1,649	-529	335	1,469	3,184
Depreciation and amortization	749	598	541	379	397	451	513	264	251	276
Stock-based compensation	137	112	99	109	112	145	115	127	200	213
Deferred income tax	3	193	-690	-6	-4	-9	10	78	-8	-34
Change in receivables	122	16	204	-127	-42	-374	911	192	-513	-575
Change in inventory	-114	-71	80	-166	-64	-361	425	-99	-201	-131
Change in payables	121	65	-268	394	-14	228	-421	227	-242	66
Cash from operations	1,916	2,113	1,761	1,714	1,626	1,657	942	918	1,083	3,674
Capital expenditures	-434	-366	-602	-585	-498	-381	-316	-254	-265	-569
Acquisitions	0	0					0	0	-88	0
Purchases of investments	0	-1,279	0	0
Sales and maturities of investments	6	0							41	41
Cash from investing	-459	-1,588	846	-635	-466	-352	217	126	-276	-525
Debt issued	1,232	0	245	994	1,000	1,200	1,600	1,500	400	0
Debt repaid	-316	-214	-819	-1,137	-33	-701	-1,578	-1,288	-1,078	-1,442
Share buybacks	-460	-361	-963	-850	-2,047	-1,799	-408	0	0	-176
Dividends paid	-561	-726	-713	-673	-649	-610	-582	-585	-600	-634
Cash from financing	-46	-1,211	-2,212	-1,605	-1,673	-1,899	-988	-473	-1,274	-2,337
Exchange rate effect	0	0	-1	-1	0	0	0	1	0	0
Net change in cash	1,411	-686	394	-527	-513	-594	171	572	-467	812
Free cash flow	1,482	1,747	1,159	1,129	1,128	1,276	626	664	818	3,105
Interest paid	172	237	223	226	184	244	327	303	324	281
Income taxes paid	33	43	39	51	44	33	32	30	42	40

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $916.83 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	45.6%	Gross profit / revenue.
Operating margin	33.6%	Operating income / revenue.
EBITDA margin	35.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	30.3%	Pre-tax income / revenue.
Net margin	26.1%	Net income / revenue.
FCF margin	25.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	30.1%	Cash from operations / revenue.
Effective tax rate	13.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	371.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	35.4%	Net income / average total assets.
Return on invested capital (ROIC)	92.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	6.2%	Research and development expense / revenue.
SG&A / revenue	4.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.7%	Capital expenditures / revenue.
D&A / revenue	2.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	34.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	18.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	73.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	60.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	13.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	116.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	22.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	104.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	194.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	18.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	116.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	19.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	105.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	21.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	239.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	57.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	17.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	279.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	70.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	22.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	2.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	1.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	2.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value CAGR, 5y	28.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	24.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	5.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.67x	Current assets / current liabilities.
Quick ratio	1.04x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.54x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.65x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	35.8%	Total debt / total assets.
Liabilities / assets	78.3%	Total liabilities / total assets.
Net debt	$1.86B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.43x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	14.4x	Operating income / interest expense.
Working capital	$2.09B	Current assets - current liabilities.
Goodwill and intangibles / assets	12.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$946.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.36x	Revenue / average total assets.
Fixed asset turnover	6.61x	Revenue / average property, plant and equipment.
Inventory turnover	4.41x	Cost of revenue / average inventory.
Days inventory	83 days	365 x average inventory / cost of revenue.
Receivables turnover	9.78x	Revenue / average receivables.
Days sales outstanding	37 days	365 x average receivables / revenue.
Days payables	92 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	28 days	Days inventory + days sales outstanding - days payables.
FCF conversion	97.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	15.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$13.90	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$14.54	Net income per basic share, as reported (split-adjusted).
Revenue per share	$53.25	Revenue / diluted weighted shares.
FCF per share	$13.56	Free cash flow / diluted weighted shares.
Operating cash flow per share	$16.04	Cash from operations / diluted weighted shares.
Book value per share	$9.56	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.17	Tangible book value / shares outstanding.
Cash per share	$7.51	(Cash + short-term investments) / shares outstanding.
Dividend per share	$2.94	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	19.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	20.4%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	5.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$207.79B	Share price x shares outstanding.
Enterprise value	$209.66B	Market cap + total debt - cash - short-term investments.
P/E	65.3x	Market cap / net income. Only when net income is positive.
P/S	17.0x	Market cap / revenue.
P/B	95.9x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	220x	Market cap / tangible book value, when positive.
P/FCF	66.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	56.6x	Market cap / cash from operations, when positive.
EV/Sales	17.2x	Enterprise value / revenue.
EV/EBIT	51.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	48.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	67.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.5%	Free cash flow / market cap.
Earnings yield	1.5%	Net income / market cap (the inverse of P/E).
Dividend yield	0.3%	Dividends paid over the period / market cap.
Shareholder yield	0.4%	(Dividends paid + share buybacks) / market cap.

What was Seagate Technology Holdings plc's revenue in fiscal 2026?

Seagate Technology Holdings plc reported revenue of $12.20B for fiscal 2026, 34.1% higher than the year before.

Was Seagate Technology Holdings plc profitable in fiscal 2026?

Yes. Net income was $3.18B, a net margin of 26.1%.

How much free cash flow did Seagate Technology Holdings plc generate in fiscal 2026?

Cash from operations of $3.67B minus capital expenditures of $569.0M left free cash flow of $3.11B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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