Seagate: three customers hold 44% of the $1,534m receivable balance
The concentration-of-credit-risk note in the fiscal 2026 10-K: at year end three customers accounted for 18%, 16% and 10% of accounts receivable. A year earlier the same note listed one customer at 18%
aiSwingX™ Editorial · Reviewed
Published
Seagate Technology Holdings plc Form 10-K (fiscal 2026, filed 2026-08-04, accession 0001137789-26-000159): consolidated balance sheets; consolidated statements of operations; consolidated statements of cash flows; Note 1 Concentration of Credit Risk and the Fiscal Year paragraph (53 weeks); the revenue and customer concentration disclosure; the Results of Operations section of MD&A. Annual figures cross-checked against SEC XBRL Company Facts.
aiSwingX™ analyzes US filings and reports them as news investors can read.
Seagate Technology Holdings plc (STX) ended fiscal 2026 with accounts receivable of $1,534m. The concentration-of-credit-risk note in the 10-K states that three customers accounted for 18%, 16% and 10% of that balance. Together that is 44%.
In plain terms
Seagate makes the hard drives that store data on computers. At the close of its financial year it was owed more than $1.5bn for goods already delivered, and 44% of that sum was owed by just three customers. A year earlier the same note in the filing named only one such customer.
What happened
Seagate Technology Holdings plc (STX) makes the hard disk drives that store data. Its fiscal 2026 ended on 3 July 2026, and the 10-K was filed on 4 August 2026.
Two sentences sit next to each other in the Concentration of Credit Risk paragraph of Note 1.
As of
What the 10-K states
3 July 2026
three customers accounted for 18%, 16% and 10%
27 June 2025
one customer accounted for 18%
The balance sheet for the same date shows accounts receivable of $1,534m. The three shares add up to 44%.
The 44% in moneySubscribers
It grew faster than revenueSubscribers
$575m of it in the cash flow statementSubscribers
Concentration on the revenue side grew tooSubscribers
We find the numbers that are in the filing but not in the news, and analyze what they mean, how big they are and what to watch next quarter — with the arithmetic and quarterly metrics. Cancel any time.
Why does it matter if the money owed sits with a few customers?
The 10-K lists the risk but does not convert the percentages into money. The subscriber section carries a table that does.
What changed against a year earlier?
The subscriber section puts last year's sentence from the same note beside this year's and compares the two amounts.
Revenue grew, so shouldn't receivables grow too?
The gap between the two growth rates, and the change in collection time, are set out in a table in the subscriber section.
How did this show up in cash?
The subscriber section compares the amount receivables absorbed in the cash flow statement with cash from operations.
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 Concentration of Credit Risk paragraph in Note 1.
How aiSwingX™ wrote this
We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
Seagate Technology Holdings plc Form 10-K (fiscal 2026, filed 2026-08-04, accession 0001137789-26-000159): consolidated balance sheets; consolidated statements of operations; consolidated statements of cash flows; Note 1 Concentration of Credit Risk and the Fiscal Year paragraph (53 weeks); the revenue and customer concentration disclosure; the Results of Operations section of MD&A. Annual figures cross-checked against SEC XBRL Company Facts. · SEC EDGAR · This article is not investment advice. Disclaimer
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aiSwingX™ analyzes US filings and reports them as news investors can read.
