Seagate Technology (STX) financial statements
Seagate Technology reported revenue of $12.2B in fiscal 2026, up 1.4% a year over 9 years.
Net income was $3.2B and the operating margin 33.6%, against 9.8% in 2017.
Free cash flow was $3.1B, and the company returned $634M in dividends and $176M in net buybacks.
The diluted share count fell 23% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Seagate Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.8B | $11.2B | $10.4B | $10.5B | $10.7B | $11.7B | $7.4B | $6.6B | $9.1B | $12.2B |
| Cost of revenue | $7.6B | $7.8B | $7.5B | $7.7B | $7.8B | $8.2B | $6.0B | $5.0B | $5.9B | $6.6B |
| Gross profit | $3.2B | $3.4B | $2.9B | $2.8B | $2.9B | $3.5B | $1.4B | $1.5B | $3.2B | $5.6B |
| Research and development | $1.2B | $1.0B | $991M | $973M | $903M | $941M | $797M | $654M | $724M | $755M |
| Selling, general and admin | $606M | $562M | $453M | $473M | $502M | $559M | $491M | $460M | $561M | $577M |
| Operating income | $1.1B | $1.6B | $1.5B | $1.3B | $1.5B | $2.0B | -$342M | $452M | $1.9B | $4.1B |
| Interest expense | $222M | $236M | $224M | $201M | $220M | $249M | $313M | $332M | $321M | $284M |
| Pre-tax income | $815M | $1.4B | $1.4B | $1.0B | $1.3B | $1.7B | -$496M | $445M | $1.5B | $3.7B |
| Income tax | $43M | $236M | -$640M | $28M | $34M | $30M | $33M | $110M | $44M | $506M |
| Net income | $772M | $1.2B | $2.0B | $1.0B | $1.3B | $1.6B | -$529M | $335M | $1.5B | $3.2B |
| EPS (diluted) | $2.58 | $4.05 | $7.06 | $3.79 | $5.36 | $7.36 | -$2.56 | $1.58 | $6.77 | $13.90 |
| Diluted shares | 299M | 292M | 285M | 265M | 245M | 224M | 207M | 212M | 217M | 229M |
| Gross margin | 29.5% | 30.1% | 28.2% | 27.0% | 27.3% | 29.7% | 18.3% | 23.4% | 35.2% | 45.6% |
| Operating margin | 9.8% | 14.6% | 14.3% | 12.4% | 14.0% | 16.8% | -4.6% | 6.9% | 20.8% | 33.6% |
| Net margin | 7.2% | 10.6% | 19.4% | 9.6% | 12.3% | 14.1% | -7.2% | 5.1% | 16.1% | 26.1% |
Balance sheet
Fiscal years, from Seagate Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2.5B | $1.9B | $2.2B | $1.7B | $1.2B | $615M | $786M | $1.4B | $891M | $1.7B |
| Receivables | $1.2B | $1.2B | $989M | $1.1B | $1.2B | $1.5B | $621M | $429M | $959M | $1.5B |
| Inventory | $982M | $1.1B | $970M | $1.1B | $1.2B | $1.6B | $1.1B | $1.2B | $1.4B | $1.6B |
| Total current assets | $5.0B | $4.3B | $4.4B | $4.1B | $3.8B | $4.0B | $2.9B | $3.3B | $3.7B | $5.2B |
| Property, plant and equipment | $1.9B | $1.8B | $1.9B | $2.1B | $2.2B | $2.2B | $1.7B | $1.6B | $1.7B | $2.0B |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B |
| Total assets | $9.3B | $9.4B | $8.9B | $8.9B | $8.7B | $8.9B | $7.6B | $7.7B | $8.0B | $10.0B |
| Total current liabilities | $2.6B | $3.2B | $2.2B | $2.7B | $2.9B | $3.6B | $2.6B | $3.1B | $2.6B | $3.1B |
| Long-term debt | $5.0B | $4.3B | $4.3B | $4.2B | $4.9B | $5.1B | $5.4B | $5.2B | $5.0B | $3.4B |
| Total liabilities | $7.9B | $7.7B | $6.7B | $7.1B | $8.0B | $8.8B | $8.8B | $9.2B | $8.5B | $7.8B |
| Shareholders' equity | $1.4B | $1.7B | $2.2B | $1.8B | $631M | $109M | -$1.2B | -$1.5B | -$453M | $2.2B |
| Net debt | $2.5B | $2.5B | $2.0B | $2.5B | $3.9B | $5.0B | $4.7B | $4.3B | $4.1B | $1.9B |
Cash flow
Fiscal years, from Seagate Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.9B | $2.1B | $1.8B | $1.7B | $1.6B | $1.7B | $942M | $918M | $1.1B | $3.7B |
| Capital spending | $434M | $366M | $602M | $585M | $498M | $381M | $316M | $254M | $265M | $569M |
| Free cash flow | $1.5B | $1.7B | $1.2B | $1.1B | $1.1B | $1.3B | $626M | $664M | $818M | $3.1B |
| Stock-based compensation | $137M | $112M | $99M | $109M | $112M | $145M | $115M | $127M | $200M | $213M |
| Dividends paid | $561M | $726M | $713M | $673M | $649M | $610M | $582M | $585M | $600M | $634M |
| Share buybacks (net) | -$460M | -$361M | -$963M | -$850M | -$2.0B | -$1.8B | -$408M | $0 | $0 | -$176M |
| Net borrowing | $916M | -$214M | -$574M | -$143M | $967M | $499M | $22M | $212M | -$678M | -$1.4B |
| Free cash flow margin | 13.8% | 15.6% | 11.2% | 10.7% | 10.6% | 10.9% | 8.5% | 10.1% | 9.0% | 25.5% |
| Dividends per share | $1.88 | $2.49 | $2.50 | $2.54 | $2.65 | $2.72 | $2.81 | $2.76 | $2.76 | $2.77 |
Questions
What was Seagate Technology's revenue in 2026?
$12.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does Seagate Technology generate?
$3.1B in fiscal 2026 (operating cash flow minus capital spending).
From Seagate Technology's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.