At a glance
Seagate Technology PLC is worth $136.30B, about 43 times its fiscal 2026 earnings. Revenue grew 34.1% to $12.20B in fiscal 2026, with 26.1% kept as profit; over 5 years it has grown 2.7% a year. It pays a 0.5% dividend yield, and returned $5.39B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +133.4% over the past year with dividends reinvested and +49.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 25.6% in the 2020 crash (S&P 500: 33.7%) and 54.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 20 months after the lows.
The business in plain English
Seagate designs and builds hard disk drives (HDDs) and storage systems. The company says hard drives account for the vast majority of storage capacity shipped into large data centers. Data Center products include drives of up to 44 terabytes (TB) and systems of up to 3.5 petabytes. The Edge IoT (Internet of Things) line, for storing data near where it is created, offers 1TB to 32TB drives for video, network storage, PCs, gaming and backup.
Seagate makes money selling this hardware. The vast majority of its business comes from data center customers: cloud service providers, including giant "hyperscale" operators, plus equipment makers (OEMs) that build drives into their own products, distributors and enterprises. Many large customers order under umbrella purchase contracts, and some commit to longer-term forecasts and supply deals for high-capacity drives. Edge IoT products are sold through OEMs, distributors and retailers, with sales typically strongest in the first half of the fiscal year.
In fiscal 2026 (ended July 3, 2026), revenue rose 34.1% to $12.2 billion and net income reached $3.2 billion. The 10-K attributes 50.4% of revenue to the United States, 40% to Singapore and 9.6% to the Netherlands. Seagate makes many key parts itself, including read/write heads and recording media, at plants in China, Malaysia, Northern Ireland, Singapore, Thailand and the United States.
Price history
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STX +133.4% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By geography
| United States | $6.15B | 50.4% |
| Singapore | $4.88B | 40% |
| The Netherlands | $1.17B | 9.6% |
| Other | $4.0M | 0% |
Latest results
- In Q1 FY2027 (ended Oct 2, 2026), revenue was $4.23B, up 61% from a year earlier, and net income was $1.76B (+220.8%).
- For fiscal 2026, revenue was $12.20B (+34.1% year over year; +2.7% a year from FY2021 to FY2026) with a 26.1% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +2.7% watch |
|---|---|
| Operating margin | 33.6% good |
| Free cash flow margin | 25.5% good |
| Return on equity (FY2026) | 146.9% (lifted by a small equity base, often the result of years of buybacks) good |
| Return on assets (FY2026) | 31.9% good |
| Net cash (cash minus debt) | $-1.13B watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $10.68B | $1.31B | $1.13B |
| FY2022 | $11.66B | $1.65B | $1.28B |
| FY2023 | $7.38B | $-529.0M | $626.0M |
| FY2024 | $6.55B | $335.0M | $664.0M |
| FY2025 | $9.10B | $1.47B | $818.0M |
| FY2026 | $12.20B | $3.18B | $3.10B |
Valuation snapshot
| Market value | $136.30B |
|---|---|
| P/E ratio | 42.7 |
| Dividend yield | 0.5% |
Rank among 1514 US companies
Market value at each year end
Seagate Technology’s market value went from $11.24B at the end of 2016 to $136.30B on Nov 2, 2026, about 12.1 times as much; since the end of 2025 it is up 132%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $136.30B | +131.8% |
| 2025 | $58.81B | +222.1% |
| 2024 | $18.26B | +2.2% |
| 2023 | $17.86B | +64.4% |
| 2022 | $10.86B | -56.8% |
| 2021 | $25.15B | +57.5% |
| 2020 | $15.97B | +2.2% |
| 2019 | $15.63B | +41.5% |
| 2018 | $11.04B | -8.8% |
| 2017 | $12.11B | +7.7% |
| 2016 | $11.24B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| STX price data to Nov 2, 2026 | +116.3% | +133.4% | +106.3% | +49.4% | +39.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +116.3% |
| 2025 | +225.2% |
| 2024 | +4.1% |
| 2023 | +69.2% |
| 2022 | -51.4% |
| 2021 | +87.6% |
| 2020 | +10.1% |
| 2019 | +62.1% |
| 2018 | -2.9% |
| 2017 | +16.7% |
| 2016 | +13.4% |
| 2015 | -42.3% |
| 2014 | +22.4% |
| 2013 | +89.8% |
| 2012 | +95.3% |
| 2011 | +13.0% |
| 2010 | -17.4% |
| 2009 | +313.5% |
| 2008 | -82.0% |
| 2007 | -2.2% |
| 2006 | +34.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 87.7% over that stretch · deepest drop along the way 88.7%, back to its old high 36.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 24.4% over that stretch · deepest drop along the way 25.6%, back to its old high 2.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 52.9% over that stretch · deepest drop along the way 54%, back to its old high 20.2 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 140 sales ($249.0M), 134 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 15, 2026 | William D Mosley CEO, Director | sell | $75.6M |
| Sep 15, 2026 | Gianluca Romano EVP & CFO | sell | $38.6M |
| Sep 15, 2026 | John Christopher Morris EVP & CTO | sell | $11.9M |
| Sep 11, 2026 | Gianluca Romano EVP & CFO | sell (plan) | $6.3M |
| Sep 15, 2026 | Ban Seng Teh EVP & Chief Commercial Officer | sell (plan) | $5.7M |
Who owns it
Large shareholders (13G filings)
| JPMORGAN CHASE & CO. | 8.4% | Jun 30, 2025 |
| Vanguard Capital Management | 7.48% | Mar 31, 2026 |
| BlackRock, Inc. | 6.1% | Mar 31, 2025 |
| Vanguard Portfolio Management | 3.56% | Jun 30, 2026 |
| Capital Research Global Investors | 3.4% | Jun 30, 2025 |
| Sanders Capital, LLC | 1.56% | Jun 30, 2026 |
ETFs with the most weight in STX
| WLDR Affinity World Leaders Equity ETF | 2.23% |
| FCLD Fidelity Cloud Computing ETF | 2.11% |
| QQJG Invesco ESG NASDAQ Next Gen 100 ETF | 1.73% |
| RSPT Invesco S&P 500 Equal Weight Technology ETF | 1.31% |
| QQQJ Invesco NASDAQ Next Gen 100 ETF | 1.09% |
| FFSM Fidelity Fundamental Small-Mid Cap ETF | 0.79% |
| TDIV First Trust NASDAQ Technology Dividend Index Fund | 0.78% |
| DVY iShares Select Dividend ETF | 0.73% |
What could go wrong
- A few big customers drive sales. A small number of customers, including giant "hyperscale" cloud and data center operators, account for a large share of revenue. If one cuts, delays or cancels orders, results can suffer. This has happened before.
- New drives must arrive on time. Growth depends on launching higher-capacity products, such as its Mozaic heat-assisted recording platform, on schedule and getting customers to adopt them. Delays, or products that miss customer needs, could cost revenue and market share.
- Price competition, including from flash storage. Seagate competes with Western Digital and Toshiba, and with flash-based storage. Falling behind on technology or pricing could turn its drives into commodities sold mainly on price.
- Boom-and-bust demand cycles. Seagate must spend before orders arrive, and data center buying is uneven. Revenue fell from $11.7 billion in fiscal 2022 to $6.6 billion in fiscal 2024, with a net loss in fiscal 2023.
- Parts shortages and single-source suppliers. Some parts come from a limited number of suppliers, or just one. Materials such as rare earth elements and precious metals can face shortages or price swings that slow production or raise costs.
- Tariffs, export rules and global operations. Seagate builds products in China, Malaysia, Thailand, Singapore, Northern Ireland and the U.S. and sells worldwide. New tariffs, sanctions or export controls could raise costs or block sales to some countries.
Recent events
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Unregistered sale of shares; Investor presentation or announcement; Other company announcement
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement; Other company announcement
- Unregistered sale of shares; Investor presentation or announcement; Other company announcement
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Unregistered sale of shares; Investor presentation or announcement; Other company announcement
For income and retirement investors
Seagate pays a quarterly dividend, but at a 0.44% yield as of October 27, 2026, it offers little income for the money invested. Regular dividends per share rose from $2.66 in fiscal 2021 to $2.94 in fiscal 2026, 2% a year. It held the dividend at $2.80 in fiscal 2023, a loss-making year, and fiscal 2024, then raised it two years running. In fiscal 2026 dividends took about 20% of earnings and free cash flow (cash left after capital spending). Total debt was $3.6 billion against $1.7 billion of cash and investments on July 3, 2026. Buybacks totaled about $2.4 billion over fiscal 2022–2026 but paused in fiscal 2024 and 2025, and the share count fell only 0.4% over five years.
The stock fell 88.7% in the 2008 crisis, recovering only in February 2012; 25.6% in the 2020 COVID crash; and 54% in the 2022 bear market, recovering in June 2024. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Seagate make money?
Seagate makes money by selling hard disk drives and storage systems. The 10-K says the vast majority of its business comes from data center customers, such as cloud service providers, equipment makers and large enterprises, which use high-capacity drives of up to 44TB. A smaller Edge IoT line offers drives sold through distributors and retailers for video, home and office network storage, gaming and backup. In fiscal 2026 (ended July 3, 2026), revenue was $12.2 billion and net income was $3.2 billion.
Does Seagate raise its dividend every year?
No. Seagate raised its regular dividend two years in a row, in fiscal 2025 and 2026, but it held the dividend at $2.80 per share in both fiscal 2023 and 2024. Regular dividends grew from $2.66 per share in fiscal 2021 to $2.94 in fiscal 2026, about 2% a year. The yield was 0.44% as of October 27, 2026, so the stock provides little income relative to its price. The 10-K lists a cut or halt to the dividend as a risk to the share price.
Who are Seagate's main competitors?
Seagate's main hard drive rivals are Western Digital and Toshiba, according to its 10-K. It also competes with makers of NAND flash, the memory chips used in solid-state drives, and with storage systems providers. Customers compare capacity, performance, reliability, energy efficiency and total cost of ownership. Seagate's technology plan centers on areal density, meaning how much data fits on a disk surface. Its Mozaic platform uses heat-assisted magnetic recording (HAMR), which briefly heats a tiny spot on the disk so data can be packed more tightly.
How volatile is Seagate stock?
Very volatile. As of October 27, 2026, its one-year volatility, a measure of how widely the price swings, was 75.6%, and its beta was 2.51, meaning it tended to move about two and a half times as much as the broad market. In the year to that date the stock gained 191.7%, yet it also fell as much as 42.3% from a peak and lost 27.2% in the final month. It dropped 88.7% in the 2008 financial crisis and 54% in the 2022 bear market.
What is Seagate's P/E ratio?
Seagate's price-to-earnings (P/E) ratio was about 48 as of October 27, 2026, based on fiscal 2026 earnings of $13.90 per share. In other words, investors were paying about $48 for each $1 of annual profit, and the company's market value was about $151 billion. Seagate's profits swing widely: it lost $2.56 per share in fiscal 2023. A P/E based on a strong year can rise sharply if earnings fall back.