Seagate FY2026: revenue up 34.1% to $12.20 billion, Q4 gross margin 52.3%
Seagate closed fiscal 2026 with revenue up 34.1% to $12.20 billion, a fourth-quarter gross margin of 52.3% and record free cash flow of $3.11 billion. Read this as a margin story first and a growth story second: the balance sheet flipped from a $453 million deficit to $2.17 billion of equity, and debt fell by $1.4 billion. The next test is management's $4.1 billion revenue guide for the September quarter.
1 · Expected vs. Actual
Free preview belowFull-year GAAP diluted EPS was $13.90 versus $6.77 a year earlier, and the company's non-GAAP figure was $15.58 versus $8.10. In the June quarter, non-GAAP diluted EPS of $5.71 beat the $5.14 consensus estimate by 11.1%, and GAAP EPS of $5.58 beat it too. The $1.68 gap between the full-year GAAP and non-GAAP numbers comes from items such as share-based compensation, debt-transaction losses, a legal settlement and tax adjustments.
Fiscal 2026 revenue was $12.20 billion, up 34.1% from $9.10 billion the year before, and the June quarter alone hit $3.63 billion, up 48.5% year over year. The quarter-by-quarter path shows the acceleration: $2.63 billion, $2.83 billion, $3.11 billion and $3.63 billion across the four quarters. That is $1.00 billion more revenue in the June quarter than in the October quarter.
Management guided its fiscal first quarter 2027 to revenue of $4.1 billion, plus or minus $100 million, and non-GAAP diluted EPS of $7.30, plus or minus $0.20. The revenue midpoint is 13.0% above the quarter just reported and 56.0% above the same quarter a year ago. The EPS target excludes an estimated $0.26 per share of share-based compensation, and no full GAAP reconciliation is provided.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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