| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 13 | 59.7x | 17.8x | Bottom tier | |
Growth | 95 | 34.1% | 7.1% | Top tier | |
Quality | 80 | 65.0% | 4.5% | Top tier | |
Safety | 80 | 0.5x | 2.6x | Top tier | |
Capital Return | 27 | 0.35% | 2.12% | Bottom tier | |
Momentum | 93 | 328.3% | 2.9% | Top tier | |
Sentiment | 53 | 12 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Seagate Technology Holdings plc develops mass-capacity storage solutions, and its revenue-generating capability centers on high-capacity hard disk drives aimed at data centers, cloud, and enterprises, alongside the edge and IoT market. The company's strategy relies on increasing storage density within each platter through HAMR technology and the Mozaic platform, allowing it to sell higher capacities while keeping the number of hard disk drive units relatively stable, and to benefit from value-based pricing and long-term contracts. In fiscal Q4 2026, data centers represented 89% of the total 218 exabytes shipped and generated $2.9 billion in revenue, while the edge and IoT market generated $697 million, or 19% of revenue.
In fiscal Q4 2026, revenue according to EDGAR was approximately $3.6 billion, gross profit was $1.9 billion, and net income was $1.3 billion. According to the non-GAAP metrics presented on the July 28, 2026 call, revenue increased 17% sequentially and 48% year over year, gross margin reached 52.7% after improving by 570 basis points sequentially, operating margin was 44.6%, and earnings per share were $5.71. Free cash flow also exceeded $1.1 billion at a 31% margin, the company's strongest quarterly result in more than a decade.
For fiscal 2026, Seagate recorded revenue of $12.2 billion, gross profit of $5.6 billion, net income of $3.2 billion, and earnings per share of $13.9 according to EDGAR. Management stated that annual revenue grew 34%, non-GAAP gross margin improved by ten percentage points, non-GAAP earnings per share increased by more than 90%, and record free cash flow reached $3.1 billion. The company ended the year with $1.7 billion in cash, $3 billion in available liquidity, and $3.6 billion in total debt after reducing it by $1.4 billion year over year.
The average analyst price target is $1130.15 within a wide range of $875 to $1600, with a consensus “Buy” rating; the average is near the upper end of the 52-week range of $1145, while the highest target exceeds that level by approximately 40%. On July 29, 2026, the available analysis cited a price-to-earnings multiple of 57.1 times and an enterprise value-to-EBITDA multiple of 42.6 times, multiples that reflect a rerating driven by HAMR growth and demand for artificial intelligence data storage, but leave a limited margin of safety if revenue or margin growth slows.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Revenue reached $3.6 billion according to EDGAR, up 17% sequentially and 48% year over year according to the July 28, 2026 call. Data centers generated $2.9 billion in revenue and shipments of 195 exabytes, representing year-over-year growth of 57% and 43%, respectively. Pricing and the mix of high-capacity nearline products also lifted non-GAAP gross margin to 52.7%, while non-GAAP net income reached $1.3 billion.
HAMR increases the amount of data stored on each platter, allowing the company to increase exabyte shipments while keeping the number of hard disk drives relatively stable. HAMR products represented approximately 40% of the nearline exabyte shipment rate at the end of fiscal 2026, and Mozaic 3 was operating at all major cloud customers. Mozaic 4 supports up to 44 terabytes per drive, while qualification shipments for Mozaic 5, with more than 5 terabytes per platter, remained targeted for late 2027.
The company expects revenue of $4.1 billion, plus or minus $100 million, representing year-over-year growth of 56% at the midpoint. It expects a non-GAAP operating margin of approximately 50% and earnings per share of $7.30, plus or minus $0.20. It also expects operating expenses of approximately $300 million, based on a tax rate of approximately 16% and a diluted share count of 231 million shares.
Automated analysis for informational purposes only — not investment advice.
Management said on July 28, 2026 that the vast majority of nearline exabytes were allocated through 2028, and that some customers were discussing planning through 2029 and beyond. Seagate explained that agentic artificial intelligence applications use KV cache to retain and reuse context, increasing the need for persistent storage distributed across memory, SSD, and hard disk drives. However, management described the contribution from KV cache and physical artificial intelligence as still being in its early stages, so its full quantitative impact cannot be separated from traditional cloud growth based on the available information.
Total debt declined from approximately $5 billion at the beginning of fiscal 2026 to $3.6 billion at year-end, a reduction of approximately $1.4 billion. In July 2026, the company retired $1 billion of high-yield senior notes and planned to repay the remaining balance of the convertible notes in September 2026. Management expected to end fiscal Q1 2027 with approximately $2.4 billion in debt, compared with net leverage of 0.4 times at the end of fiscal 2026.
The business is concentrated in data centers, which represented 89% of fiscal Q4 2026 exabytes, with significant dependence on global cloud customers. The Mozaic 3, Mozaic 4, and Mozaic 5 transitions also require additional time within manufacturing tools, management of yield and scrap, and qualification cycles that vary among customers. The cited price-to-earnings multiple of 57.1 times on July 29, 2026 adds high sensitivity to any decline in pricing, margins, or the pace of execution of the HAMR roadmap.
