# Seagate Technology Holdings plc (STX) Q4 2025 Financial Results Summary
Release Date: July 29, 2025
Seagate Technology Holdings plc, a prominent player in mass-capacity data storage solutions, reported its financial results for the fiscal fourth quarter and fiscal year 2025, ended June 27, 2025. Below are the key highlights from the earnings release:
## Fiscal Q4 2025 Highlights
– **Revenue**: $2.44 billion, an increase of **30%** compared to $1.887 billion in Q4 2024.
– **GAAP Diluted Earnings Per Share (EPS)**: $2.24, down by **6%** from $2.39 in Q4 2024.
– **Non-GAAP Diluted EPS**: $2.59, a significant increase of **146%** compared to $1.05 in Q4 2024.
– **Cash Flow from Operations**: $508 million, compared to $434 million in Q4 2024, marking a growth of **17%**.
– **Free Cash Flow**: $425 million, a rise from $380 million in Q4 2024, reflecting an increase of **12%**.
– **Cash Dividend Declared**: $0.72 per share.
## Fiscal Year 2025 Highlights
– **Total Revenue**: $9.10 billion, up **39%** year-over-year from $6.551 billion in FY 2024.
– **GAAP Diluted EPS**: $6.77, a **329%** increase compared to $1.58 in FY 2024.
– **Non-GAAP Diluted EPS**: $8.10, advancing from $1.29 in FY 2024, representing a **528%** growth.
– **Cash Flow from Operations**: $1.1 billion, compared to $918 million in FY 2024, showing a rise of **20%**.
– **Free Cash Flow**: $818 million, up from $664 million in FY 2024, which is a **23%** increase.
– **Shareholder Returns**: Returned $600 million to shareholders through dividends during FY 2025.
## Quarterly Operational Metrics
– **Gross Margin**:
– GAAP: 37.4%, up from **31.8%** in Q4 2024.
– Non-GAAP: 37.9%, increased from **30.9%** in Q4 2024.
– **Operating Margin**:
– GAAP: 23.2%, up from **16.6%** in Q4 2024.
– Non-GAAP: 26.2%, increased from **17.3%** in Q4 2024.
– **Net Income**:
– GAAP: $488 million, down from $513 million in Q4 2024.
– Non-GAAP: $556 million, a substantial increase from $222 million in Q4 2024.
## Annual Financial Metrics
– **Gross Margin**:
– GAAP: 35.2%, a rise from **23.4%** in FY 2024.
– Non-GAAP: 35.8%, increased from **25.5%** in FY 2024.
– **Operating Margin**:
– GAAP: 20.8%, compared to **6.9%** in FY 2024.
– Non-GAAP: 23.4%, up from **10.3%** in FY 2024.
– **Net Income**:
– GAAP: $1.469 billion, up from $335 million in FY 2024.
– Non-GAAP: $1.733 billion, an increase from $272 million in FY 2024.
## Cash Position and Debt Management
– **Total Debt**: Reduced by approximately $147 million during Q4 2025, totaling $5 billion as of year-end.
– **Cash and Cash Equivalents**: Totaled $891 million at fiscal year-end, compared to $1.358 billion at the end of FY 2024.
– **Share Count**: There were 213 million ordinary shares issued and outstanding.
## Outlook for Fiscal Q1 2026
For the fiscal first quarter 2026, Seagate anticipates:
– **Revenue Guidance**: Approximately $2.50 billion, with a variance of +/- $150 million.
– **Non-GAAP Diluted EPS Guidance**: Expected to be around $2.30, with a variance of +/- $0.20.
The information signifies Seagate’s ongoing financial health, commitment to shareholder value, and proactive approach toward the evolving data storage market.
Here are the extracted tables from the press release:
### CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
| For the Three Months Ended | For the Fiscal Years Ended | |||
|---|---|---|---|---|
| June 27, 2025 | June 28, 2024 | June 27, 2025 | June 28, 2024 | |
| Revenue | $2,444 | $1,887 | $9,097 | $6,551 |
| Cost of revenue | 1,530 | 1,287 | 5,897 | 5,015 |
| Product development | 179 | 158 | 724 | 654 |
| Marketing and administrative | 154 | 131 | 561 | 460 |
| Restructuring and other, net | 13 | -3 | 25 | -30 |
| Total operating expenses | 1,876 | 1,573 | 7,207 | 6,099 |
| Income from operations | 568 | 314 | 1,890 | 452 |
| Interest income | 6 | 7 | 25 | 15 |
| Interest expense | -75 | -82 | -321 | -332 |
| Net gain from termination of interest rate swap | — | — | — | 104 |
| Net gain from business divestiture | — | 313 | 8 | 313 |
| Net loss from debt transactions | -3 | — | -7 | -29 |
| Other, net | -4 | -14 | -82 | -78 |
| Other (expense) income, net | -76 | 224 | -377 | -7 |
| Income before income taxes | 492 | 538 | 1,513 | 445 |
| Provision for income taxes | 4 | 25 | 44 | 110 |
| Net income | $488 | $513 | $1,469 | $335 |
| Net income per share: | ||||
| Basic | $2.30 | $2.44 | $6.93 | $1.60 |
| Diluted | $2.24 | $2.39 | $6.77 | $1.58 |
| Number of shares used in per share calculations: | ||||
| Basic | 212 | 210 | 212 | 209 |
| Diluted | 218 | 215 | 217 | 212 |
| Cash dividends declared per ordinary share | $0.72 | $0.70 | $2.86 | $2.80 |
### CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
| June 27, 2025 | June 28, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $891 | $1,358 |
| Accounts receivable, net | 959 | 429 |
| Inventories, net | 1,440 | 1,239 |
| Other current assets | 363 | 306 |
| Total current assets | 3,653 | 3,332 |
| Property, equipment and leasehold improvements, net | 1,657 | 1,614 |
| Goodwill | 1,221 | 1,219 |
| Deferred income taxes | 1,066 | 1,037 |
| Other assets, net | 426 | 537 |
| Total Assets | $8,023 | $7,739 |
| LIABILITIES AND SHAREHOLDER’S DEFICIT | ||
| Current liabilities: | ||
| Accounts payable | $1,604 | $1,786 |
| Accrued employee compensation | 352 | 106 |
| Accrued warranty | 60 | 74 |
| Current portion of long-term debt | — | 479 |
| Accrued expenses | 632 | 654 |
| Total current liabilities | 2,648 | 3,099 |
| Long-term accrued warranty | 77 | 75 |
| Other non-current liabilities | 756 | 861 |
| Long-term debt, less current portion | 4,995 | 5,195 |
| Total Liabilities | 8,476 | 9,230 |
| Total Shareholders’ Deficit | -453 | -1,491 |
| Total Liabilities and Shareholders’ Deficit | $8,023 | $7,739 |
