STX · Seagate Technology Holdings plc
Price & Indicators
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AI Brief
TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Research
our published analysis of this company-
Research ThesisSuper Micro Computer's 15–17% margin guide against a 10.1% recent print makes the bear trade the heavier one
The $60B FQ4 backlog is the cleanest demand signal in AI servers, but the lifted 15–17% gross-margin guide against a 10.1% Q3 FY2026 print, an active export-control board review, and 16.2% short interest leave the bear case as the heavier of the two trades heading into the August 11 print.
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Research ThesisSandisk's $42 billion contract floor has bought the bull case three times trailing revenue; the bear trades it for the multiple
Sandisk re-rated on one quarter of contracted datacenter revenue: three fiscal Q3 contracts carry roughly $42 billion of minimum contractual revenue, five multi-year deals are backed by over $11 billion of guarantees, and the stock still sits 45.3% off its $2,335 52-week high at 14.1× EV/Revenue, the cheapest of the three storage names on that multiple.
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
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| Cash flow from operations | $3.7B | FY 2026 | — |
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| Free cash flow | $3.1B | FY 2026 | — |
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GAAP → non-GAAP reconciliationGAAP GAAP Net Cash Provided by Operating Activities $3.67B
-$569M Acquisition of property, equipment and leasehold improvements
= Free Cash Flow $3.11B
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| Non-GAAP Adjusted EBITDA non-GAAP | $1.68B | For the Three Months Ended July 3, 2026 | +0.0% |
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GAAP → non-GAAP reconciliationGAAP Non-GAAP EBITDA $1.63B
+$0M Acquisition-related charges
+$0M Legal settlement
+$0M Net loss from business divestiture
+$10M Net loss from debt transactions
+$4M Restructuring and other, net
+$54M Share-based compensation
-$14M Strategic investment (gains) losses or impairment charges
+$1M Other charges
= Non-GAAP Adjusted EBITDA $1.68B
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| Non-GAAP EBITDA non-GAAP | $1.63B | For the Three Months Ended July 3, 2026 | — |
GAAP → non-GAAP reconciliationGAAP GAAP Net Income $1.29B
+$70M Depreciation and amortization
+$64M Interest expense
-$10M Interest income
+$211M Income tax expense
= Non-GAAP EBITDA $1.63B
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| non-GAAP gross margin non-GAAP | 46.1% | FY 2026 | — |
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| Non-GAAP Income From Operations non-GAAP | $4.45B | For the Twelve Months Ended July 3, 2026 | — |
| Non-GAAP Operating Margin non-GAAP | 36.5% | For the Twelve Months Ended July 3, 2026 | — |
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| ordinary shares issued and outstanding | 227M | FY 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Computer Hardware — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
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STX
this stock
Seagate Technology Holdings plc
|
$191.83B | +207.3% | -36.7% | 60.9 | 3.6% |
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DELL
Dell Technologies Inc.
|
$292.62B | +268.5% | -13.6% | 36.0 | 2.2% |
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ANET
Arista Networks, Inc.
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$240.33B | +54.4% | +28.6% | 60.3 | 1.0% |
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SNDK
Sandisk Corp
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$219.54B | +531.6% | +175.3% | 20.3 | 5.2% |
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WDC
Western Digital Corp
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$156.97B | +172.2% | +35.7% | 17.9 | 5.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| STX | +1.7% | +10.7% | +130.4% | -1.1% | +207.3% |
| SPY | -0.4% | +5.0% | +12.4% | +2.6% | +12.3% |
| vs SPY | +2.1% | +5.7% | +118.0% | -3.7% | +195.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.