# Seagate's revenue grew 34% and its R&D spend grew 4.3% — cash from operations went up 3.4 times

![Seagate's revenue grew 34% and its R&D spend grew 4.3% — cash from operations went up 3.4 times](https://aiswingx.com/static/covers/stx-fy2026_cover.jpg?v=1790190648)

**FY2026 10-K: revenue went from $9,097m to $12,195m while research and development went from $724m to $755m. Cash from operations rose from $1,083m to $3,674m, and total equity crossed from negative to positive**

Revenue in the annual report Seagate (STX) filed for fiscal 2026 is $12,195m, up 34.1% from $9,097m. Research and development over the same year went from $724m to $755m — a rise of 4.3%, one eighth the rate of revenue.

- 종목: STX (Seagate Technology Holdings plc)
- 분기: FY26 · 10-K
- 작성: 2026-09-23 19:10 UTC
- 원문: https://aiswingx.com/p/stx-fy2026

## 숫자 하나
Fiscal 2026 revenue $12,195m (+34.1%) with research and development at $755m (+4.3%). Cash from operations $3,674m, 3.4 times the prior year's $1,083m. Total equity from $(453)m to $2,167m.

## 비유 하나
(구독자 전용)

## 출처 하나
Seagate Technology Holdings plc Form 10-K (fiscal 2026, ended 2026-07-03, accession 0001137789-26-000159): consolidated statements of operations, cash flows and balance sheet; customer concentration note; MD&A capital expenditure outlook. Annual figures cross-checked against SEC XBRL Company Facts.

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

Seagate (STX) makes the hard drives that sit in datacentres and personal storage. Its fiscal year ends in late June or early July.

Fiscal 2026 was a large year on every line but one.

| Line | FY2025 | FY2026 | Change |
|---|---|---|---|
| Revenue | $9,097m | **$12,195m** | **+34.1%** |
| Operating income | $1,890m | $4,094m | +116.6% |
| Net income | $1,469m | $3,184m | +116.7% |
| **Research and development** | $724m | **$755m** | **+4.3%** |

Revenue grew **34.1%**; R&D grew **4.3%** — one eighth the rate. As a share of revenue it fell from 8.0% to **6.2%**.

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(End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing)

## FAQ

**Q. Is slower R&D growth a bad sign?**

The filing does not say. This article sets it beside revenue growth and shows the gap. Work on the next generation also runs through capital spending.

**Q. What does equity turning positive mean?**

Assets less liabilities moved from negative to positive. The amount and what drove it are in the subscriber section.

**Q. Did the extra profit arrive as cash?**

Cash from operations is 3.4 times the prior year. What is left after capital spending is in the subscriber section.

**Q. Is revenue concentrated in one customer?**

The 10-K states that one customer accounted for about 14% of consolidated revenue in fiscal 2026. It is not named.

**Q. Where can I check this myself?**

On SEC EDGAR, open Seagate Technology Holdings plc's fiscal 2026 Form 10-K (accession 0001137789-26-000159) and read the statements of operations and cash flows.