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Seagate Technology Holdings (STX) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Oct 29, 2026 · Seagate Technology Holdings (STX) Q1 FY27 earnings results →

Q1 FY27 Revenue up 61% year over year to $4.2B · 42¢ of every $1 of revenue kept as net profit · operating margin 48.8%

Seagate Technology Holdings made $4.2B in Q1 FY27 (+61% Y/Y). Operating margin 48.8%, net earnings $1.8B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$4.2B
Year over year+61%
Operating margin48.8%
Net earnings$1.8B
Operating cash flow$1.7B

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Seagate Technology Holdings Q1 FY27 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Seagate Technology Holdings Q1 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $4.2B in Q1 FY27, up 61% year over year and up 17% from the previous quarter.

Operating profit was $2.1B, a 48.8% margin (up 22.4 points year over year). Of the extra revenue versus Q1 FY26, 85% reached operating profit, above the 26% margin then. Total costs grew 12% against revenue growth of 61%. The fastest-growing cost line was Cost of revenue (+13%). Net earnings were $1.8B, up 221% year over year. The effective tax rate was 11.2%.

Operating cash flow was $1.7B (up 218% year over year), 96% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.21B. Capital expenditures of $0.21B left free cash flow of $1.5B.

Quarterly history

Seagate Technology Holdings revenue by quarterSeagate Technology Holdings revenue by quarter$2.2BQ3 FY25$2.4BQ4 FY25$2.6BQ1 FY26$2.8BQ2 FY26$3.1BQ3 FY26$3.6BQ4 FY26$4.2BQ1 FY27
Seagate Technology Holdings net earnings by quarterSeagate Technology Holdings net earnings by quarter$340MQ3 FY25$488MQ4 FY25$549MQ1 FY26$593MQ2 FY26$748MQ3 FY26$1.3BQ4 FY26$1.8BQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QOct 29, 2026$4.2B+61%48.8%$1.8B$1.7B
Q4 FY2610-KAug 4, 2026$3.6B+48%43.0%$1.3B$1.3B
Q3 FY2610-QApr 29, 2026$3.1B+44%32.1%$748M$1.1B
Q2 FY2610-QJan 30, 2026$2.8B+22%29.8%$593M$723M
Q1 FY2610-QOct 31, 2025$2.6B+21%26.4%$549M$532M
Q4 FY2510-KAug 1, 2025$2.4B+30%23.2%$488M$508M
Q3 FY2510-QMay 2, 2025$2.2B+30%20.0%$340M$259M

Charts

Seagate Technology Holdings: revenue growth, year over year and quarter over quarterSeagate Technology Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+30%Q3 FY25+30%+13%Q4 FY25+21%+8%Q1 FY26+22%+7%Q2 FY26+44%+10%Q3 FY26+48%+17%Q4 FY26+61%+17%Q1 FY27
Latest (Q1 FY27): Y/Y +61%, Q/Q +17%.
Seagate Technology Holdings: where the cash came from (+) and went (−), TTM to Q1 FY27Seagate Technology Holdings: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$4.8BNet borrowing (+) / repaid (−)−$2.7BCapital spending−$675MDividends−$649MBuybacks−$547MCash drawn (+) / kept (−)−$256MTaxes on employees’ shares−$86.0MShares issued$68.0MOther investing$29.0MOther financing−$12.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Seagate Technology Holdings: profit against cash, quarter by quarterSeagate Technology Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$336M$221MQ2 FY25$340M$259MQ3 FY25$488M$508MQ4 FY25$549M$532MQ1 FY26$593M$723MQ2 FY26$748M$1.1BQ3 FY26$1.3B$1.3BQ4 FY26$1.8B$1.7BQ1 FY27
Latest (Q1 FY27): Net income $1.8B, Operating cash flow $1.7B.
Seagate Technology Holdings: diluted shares by fiscal yearSeagate Technology Holdings: diluted shares by fiscal year245MFY21224MFY22207MFY23212MFY24217MFY25229MFY26
-6.5% since FY21: buybacks shrank the count.
Seagate Technology Holdings: long-term debt falling due (FY26)Seagate Technology Holdings: long-term debt falling due (FY26)$186M2028$381M2029$636M2030$599M2031$1.8BLater
Cash $1.7B, short-term investments —, long-term debt — at 2026-07-03.
Seagate Technology Holdings in its industry: growth against margin (6 companies, SIC 3572)Seagate Technology Holdings in its industry: growth against margin (6 companies, SIC 3572)revenue growth, year over year →↑ operating marginmedian +56%median 47%SNDKWDCNTAPPQMCOSTX (+61%, 49%)
Computer Storage Devices; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

AI data-center capex money flowAI data-center capex · Memory & storage (excluding HBM)

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About Seagate Technology Holdings

Seagate is a leading provider of mass-capacity data storage, accelerating the world’s ability to harness the full value of data. For nearly 50 years, our portfolio of advanced storage solutions has helped hyperscale, cloud service providers (“CSPs”), enterprises and consumers protect, create and manage the data that powers their transformation and growth. Hard disk drives (“HDDs”) remain a foundational technology for delivering scalable, energy-efficient, mass-capacity storage with favorable storage economics that underpins modern digital infrastructure. Our vertically integrated engineering and manufacturing capabilities, together with continued investment in advanced storage technologies, position us to address customers' evolving storage requirements.

In its own words, from its 10-K, filed Aug 4, 2026.

Seagate Technology Holdings against its Computer Storage Devices peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +61% against the peers' median +56%. Operating margin: 48.8% against the peers' median 46.7%.

CompanyQuarterRevenueY/YOp. margin
STX Seagate Technology HoldingsQ1 FY27$4.2B+61%48.8%
SNDK SandiskQ1 FY27$11.0B+378%79.6%
WDC Western DigitalQ1 FY27$4.4B+56%46.7%
NTAP NetAppQ1 FY27$1.8B+30%26.6%
P EverpureQ2 FY27$1.2B+38%5.3%
QMCO QuantumQ1 FY27$80.8M+26%6.2%

Source: Seagate Technology Holdings 10-Q on SEC EDGAR · CIK 1137789 · Computer Storage Devices

Guidance and outlook

Seagate Technology Holdings Revenue: guidance against what was reportedSeagate Technology Holdings Revenue: guidance against what was reportedguided rangereported (above / within / below)Q2 FY25Q1 FY26$2.6BQ2 FY26$2.8BQ3 FY26$3.1BQ4 FY26$3.6BQ1 FY27$4.2BQ2 FY27
Met or beat 5 of 5 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

More on STX

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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