Seagate Technology Holdings PLC

investors.seagate.com

What Do They Do?

Sells hard disk drives and storage systems to cloud providers, enterprise organizations, and industrial and consumer customers.

How Do They Make Money?

Customers buy storage products, and sales are generally counted when products ship.

FY2026 revenue

Who Are Their Customers?

Cloud providers, equipment makers and enterprise organizations buy data-center products through direct and indirect channels; equipment makers, distributors, retailers and resellers take edge products to industrial, commercial and consumer markets.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2024: no customer at 10% or more of revenue

Do Revenues Turn Into Profits?

Yes. It kept 26 cents of every revenue dollar as net income in FY2026 and turned 25 cents into free cash flow.

Operating income, FY2026

34% of revenue

▲ +117% vs FY2025 ($1.9B, 21%)

Net income, FY2026

26% of revenue

▲ +117% vs FY2025 ($1.5B, 16%)

Free cash flow, FY2026

25% of revenue

▲ +280% vs FY2025 ($818M, 9%)

How Are They Changing?

Flat. Revenue was $12.2B in FY2026, about the same as the $11.7B of FY2022.

A narrower portfolio description The earlier report lists SSDs and Lyve data-transfer and storage-as-a-service offerings alongside HDDs; the latest focuses its portfolio description on HDDs and storage systems for Data Center and Edge IoT markets.

Who Do They Compete With?

Competes with Western Digital and Toshiba Electronics Devices & Storage

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