# Seagate Technology Holdings PLC Ordinary Shares (Ireland) (STX) — Stock CV

Seagate Technology Holdings PLC is a $178B technology company. Revenue grew 34.1% over the last year, it keeps 26¢ of every dollar of sales as profit, and its net debt equals ~1.3 years of free cash flow. It trades at 55.9× earnings.

> Seagate Technology is a leading supplier of hard disk drives for data storage to the enterprise and consumer markets. It forms a practical duopoly in the market with its chief rival, Western Digital; they are both vertically integrated.

## Identity

- **Ticker**: STX
- **Sector**: Technology
- **Industry**: Computer Storage Devices
- **Headquarters**: SINGAPORE, U0
- **Employees**: 30 000
- **Website**: https://www.seagate.com
- **Market cap**: $178B
- **Last price**: $781.00
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $12.2B
- **Net income**: $3.18B
- **Free cash flow**: $3.10B
- **Net debt**: $4.10B
- **P/E**: 55.9
- **Revenue growth (YoY)**: 34.1%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 10 |
| Growth | 45 |
| Profitability | 100 |
| Health | 43 |
| Quality | 84 |
| Moat | 51 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +34.1% YoY
- [x] Profitable — $3.18B TTM
- [x] Profit growing — +21.0% YoY
- [x] Generates cash — $3.10B TTM
- [x] Debt under control — ~1.3y of cash flow to repay
- [x] Established company — $178B market cap
- [x] Not printing shares — -3.1% shares over ~5y
- [x] Proven track record — 11/12 profitable years
- [ ] Financially stable — health score 43/100
- [x] Pays a dividend — yield 0.36%
- [ ] Valuation not extreme — P/E 55.9

## Experience (career milestones)

- **FY2026** — Best year on record: $3.18B net income
- **FY2016** — First recorded profitable year: $248M net income
- **FY2016** — Revenue already above $10B: $11.2B in first reported year
- **FY2016** — Positive free cash flow every year since: 12-year streak
- **2010** — Seagate released the world's first 3 TB hard drive
- **2008** — Seagate was the first to ship one billion HDDs
- **2006** — The plant became part of Seagate after Maxtor's acquisition in 2006
- **2005** — Seagate also acquired a license to use Samsung trademark on HDD products for five years
- **1996** — Seagate merged with Conner Peripherals to form the world's largest independent hard-drive manufacturer
- **1996** — Seagate introduced the industry's first hard disk with a 10,000 RPM spindle speed, the Cheetah 4LP
- **1993** — Seagate became the first company to cumulatively ship 50 million HDDs over its firm's history
- **1991** — Seagate also introduced the Barracuda HDD, the industry's first hard disk with a 7,200 RPM spindle speed
- **1980** — Seagate developed the first 5.25-inch hard disk drive (HDD), the 5-megabyte ST-506, in 1980
- **Nov 1, 1978** — Seagate Technology (then called Shugart Technology) was incorporated on November 1, 1978

## Strengths

- High gross margin (45.6%)
- Strongly profitable — 26.1% net margin
- Revenue growing 34.1% year over year
- Strong cash conversion — FCF is 25.5% of revenue
- Interest covered 15.5× by operating earnings

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2023 | $7.38B | -$529M | $626M |
| FY2024 | $6.55B | $335M | $664M |
| FY2025 | $9.10B | $1.47B | $818M |
| FY2026 | $12.2B | $3.18B | $3.10B |
| FY2027 | $9.10B | $1.47B | $818M |

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Source: https://stockcv.com/STX — derived from company filings; may be delayed or incomplete. Information, not investment advice.