HPQ vs STX: HP and Seagate Technology compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Seagate Technology is the larger company, worth $161.3B, about 5.9 times HP.
- Seagate Technology grew revenue faster over the last year (+48.5% vs +12.5%).
- Seagate Technology keeps more of each dollar of revenue as operating profit (33.6% vs 5.5%).
- On earnings, HP is the cheaper stock (11.3x vs 68.5x).
- Seagate Technology's price assumes faster free cash flow growth: about 18% a year, against -4% for HP (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HPQ | STX |
|---|---|---|
| Market cap | $27.3B | $161.3B |
| Share price | $30.20 | $783.00 |
| Revenue (last fiscal year) | $55.3B | $12.2B |
| Free cash flow (last fiscal year) | $2.8B | $3.1B |
| Revenue growth, last year | +12.5% | +48.5% |
| Revenue growth per year, last 5 fiscal years | -3.4% | +1.1% |
| Operating margin | 5.5% | 33.6% |
| Net margin | 4.1% | 26.1% |
| Return on equity | — | 146.9% |
| P/E (trailing) | 11.3x | 68.5x |
| Price / free cash flow | 9.77x | 197.2x |
| EV / EBITDA | 8.89x | 37.7x |
| FCF growth the price implies | -4.5% | 17.5% |
| Dividend yield | 3.9% | 0.42% |
| Debt / equity | — | 3.60x |
| Fundamental grade | D | B |
| Superinvestors holding it | 6 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
HP
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $63.5B | $5.8B | 8.4% |
| 2022 | $62.9B | $3.7B | 7.2% |
| 2023 | $53.7B | $3.0B | 6.4% |
| 2024 | $53.6B | $3.2B | 7.1% |
| 2025 | $55.3B | $2.8B | 5.7% |
Seagate Technology
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $11.7B | $1.3B | 16.8% |
| 2023 | $7.4B | $626M | -4.6% |
| 2024 | $6.6B | $664M | 6.9% |
| 2025 | $9.1B | $818M | 20.8% |
| 2026 | $12.2B | $3.1B | 33.6% |
Where the revenue comes from
HP · by segments, 2025
Personal Systems$38.5B70%
Printing$16.7B30%
Corporate Investments$62M0%
Seagate Technology · by regions, 2026
United States$6.1B50%
Singapore$4.9B40%
The Netherlands$1.2B10%
Other$4M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HPQ in InvestinglyQuestions
Which is bigger, HP or Seagate Technology?
Seagate Technology (STX), at $161.3B against $27.3B.
Is HPQ or STX cheaper?
By trailing P/E, HP (11.3x) is cheaper than Seagate Technology (68.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, HPQ or STX?
Seagate Technology: revenue grew +48.5% over the last year, against +12.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.