Seagate Technology
ConvictionStrong
Vertically integrated designer and manufacturer of mass-capacity hard disk drives (nearline/data-center HDDs) plus enterprise systems and edge storage; build-to-order model with multi-quarter customer backlog; revenue concentrated in hyperscale/cloud nearline HDDs, monetizing capacity leadership (dollars per terabyte) via the HAMR-based Mozaic platform.
Revenue
$11.0B TTMfiscal Q3 FY2026 was $3.11BRev growth
+29% TTM YoY+44% YoY in FQ3 FY2026Gross margin
47.0% non-GAAPrecord) in FQ3 FY2026; 46.5% GAAPOp margin
~37.5% non-GAAP / ~32% GAAPin FQ3 FY2026Capex intensity
~5% of revenueFQ3 capex ~$150M, derived from $1.1B operating cash flow less $953M FCF) — low for a hardware manufacturerMarket cap
~$185.6BNasdaq: STX, as of Jul 4, 2026; highly volatile after a ~570% 12-month run — down ~10% on Jul 2The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Seagate Technology
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence