Latest Ratios: P/E Ratio 135.2x · EV/EBITDA 95.3x · ROE N/A. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $199.6B | $30.7B | $21.9B | $12.8B | $15.5B | $21.3B | $12.5B | $13.4B | $16.5B | $11.6B | $7.4B |
| Enterprise Value | $204.1B | $35.2B | $26.2B | $17.9B | $20.6B | $25.3B | $15.1B | $15.5B | $19.5B | $14.1B | $10.3B |
| P/E Ratio → | 135.18 | 20.89 | 65.36 | — | 9.39 | 16.24 | 12.49 | 6.67 | 13.94 | 15.02 | 29.71 |
| P/S Ratio | 21.94 | 3.37 | 3.34 | 1.73 | 1.33 | 2.00 | 1.19 | 1.29 | 1.47 | 1.08 | 0.66 |
| P/B Ratio | — | — | — | — | 141.98 | 33.79 | 7.02 | 6.21 | 9.90 | 8.49 | 4.62 |
| P/FCF | 243.98 | 37.52 | 32.97 | 20.46 | 12.13 | 18.90 | 11.11 | 11.59 | 9.44 | 7.82 | 6.73 |
| P/OCF | 184.28 | 28.34 | 23.85 | 13.60 | 9.34 | 13.11 | 7.32 | 7.63 | 7.80 | 6.05 | 4.38 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.87 | 4.00 | 2.42 | 1.76 | 2.37 | 1.43 | 1.49 | 1.74 | 1.31 | 0.92 |
| EV / EBITDA | 95.31 | 16.43 | 36.61 | 104.42 | 8.54 | 13.40 | 8.97 | 7.62 | 8.72 | 7.80 | 8.19 |
| EV / EBIT | 107.97 | 19.18 | 33.73 | — | 10.66 | 16.14 | 12.22 | 9.69 | 11.76 | 13.57 | 15.34 |
| EV / FCF | — | 43.00 | 39.47 | 28.52 | 16.11 | 22.43 | 13.34 | 13.34 | 11.14 | 9.49 | 9.44 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.2% | 35.2% | 23.4% | 19.2% | 29.7% | 27.3% | 27.0% | 28.2% | 30.1% | 29.5% | 23.4% |
| Operating Margin | 20.8% | 20.8% | 6.9% | -4.6% | 16.8% | 14.0% | 12.4% | 14.3% | 14.6% | 9.8% | 4.0% |
| Net Profit Margin | 16.1% | 16.1% | 5.1% | -7.2% | 14.1% | 12.3% | 9.6% | 19.4% | 10.6% | 7.2% | 2.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | 445.7% | 108.7% | 50.8% | 105.1% | 78.0% | 52.2% | 10.8% |
| ROA | 18.6% | 18.6% | 4.4% | -6.4% | 18.7% | 14.9% | 11.3% | 22.0% | 12.7% | 8.8% | 2.7% |
| ROIC | 41.4% | 41.4% | 10.2% | -5.7% | 29.9% | 25.1% | 22.9% | 25.3% | 28.9% | 18.8% | 7.2% |
| ROCE | 37.7% | 37.7% | 9.4% | -6.6% | 35.1% | 24.9% | 20.2% | 23.1% | 25.4% | 16.7% | 6.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 52.26 | 8.23 | 2.37 | 1.97 | 2.89 | 3.68 | 2.57 |
| Debt / EBITDA | 2.51 | 2.51 | 7.92 | 34.12 | 2.37 | 2.75 | 2.52 | 2.10 | 2.16 | 2.78 | 3.25 |
| Net Debt / Equity | — | — | — | — | 46.61 | 6.31 | 1.41 | 0.94 | 1.78 | 1.82 | 1.86 |
| Net Debt / EBITDA | 2.09 | 2.09 | 6.03 | 29.53 | 2.11 | 2.11 | 1.50 | 1.00 | 1.33 | 1.38 | 2.35 |
| Debt / FCF | — | 5.48 | 6.50 | 8.07 | 3.98 | 3.53 | 2.23 | 1.75 | 1.70 | 1.67 | 2.71 |
| Interest Coverage | 5.71 | 5.71 | 2.34 | -0.58 | 7.74 | 7.13 | 6.13 | 7.13 | 7.01 | 4.67 | 3.49 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.38 | 1.38 | 1.08 | 1.12 | 1.13 | 1.29 | 1.51 | 1.95 | 1.35 | 1.92 | 1.57 |
| Quick Ratio | 0.84 | 0.84 | 0.68 | 0.68 | 0.69 | 0.88 | 1.09 | 1.52 | 1.02 | 1.55 | 1.18 |
| Cash Ratio | 0.34 | 0.34 | 0.44 | 0.30 | 0.17 | 0.41 | 0.63 | 1.00 | 0.58 | 0.97 | 0.50 |
| Asset Turnover | — | 1.13 | 0.85 | 0.98 | 1.30 | 1.23 | 1.18 | 1.17 | 1.19 | 1.16 | 1.35 |
| Inventory Turnover | 4.10 | 4.10 | 4.05 | 5.23 | 5.23 | 6.45 | 6.71 | 7.69 | 7.43 | 7.74 | 9.84 |
| Days Sales Outstanding | — | 43.33 | 30.03 | 38.95 | 50.55 | 39.57 | 38.73 | 34.74 | 38.64 | 40.63 | 43.11 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 2.0% | 2.7% | 4.5% | 3.9% | 3.0% | 5.4% | 5.3% | 4.4% | 4.8% | 9.9% |
| Payout Ratio | 40.8% | 40.8% | 174.6% | — | 37.0% | 49.4% | 67.0% | 35.4% | 61.4% | 72.7% | 293.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 4.8% | 1.5% | — | 10.7% | 6.2% | 8.0% | 15.0% | 7.2% | 6.7% | 3.4% |
| FCF Yield | 0.4% | 2.7% | 3.0% | 4.9% | 8.2% | 5.3% | 9.0% | 8.6% | 10.6% | 12.8% | 14.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 3.2% | 11.6% | 9.6% | 6.8% | 7.2% | 2.2% | 4.0% | 14.8% |
| Total Shareholder Yield | 0.3% | 2.0% | 2.7% | 7.7% | 15.6% | 12.6% | 12.1% | 12.5% | 6.6% | 8.8% | 24.7% |
| Shares Outstanding | — | $217M | $212M | $207M | $224M | $245M | $265M | $285M | $292M | $299M | $302M |
Cyclical hyperscale demand volatility
According to recent market data, Seagate's P/E ratio of 132.92 and EV/EBITDA of 93.75 suggest that investors are pricing in a significant earnings recovery, as the company's valuation multiples appear elevated relative to historical norms and peer averages in the broader storage hardware sector.
The current valuation implies high expectations for sustained margin expansion driven by the mass-capacity storage cycle. Investors should monitor whether the forward P/E of 60.39 remains justified if the pace of hyperscale data center procurement moderates in coming quarters.
As reported in financial statements, Seagate's ROIC has surged to 35.1% in 2026Q3, marking a substantial improvement from the 3.5% level observed in 2024Q3, which suggests that the company is successfully leveraging its fixed-cost manufacturing base to generate superior returns on invested capital during this cycle.
This trend indicates that the company's vertical integration strategy is yielding higher returns as factory utilization rates improve. The sharp increase in ROIC warrants further investigation into whether these returns are sustainable or if they are primarily a function of temporary cyclical tailwinds.
Based on Seagate's reported figures, the cash conversion cycle has normalized to 24 days in 2026Q3, a significant improvement from the negative cycles seen during the 2024 downturn, reflecting more efficient inventory management and a better alignment of supplier payment terms with customer collection cycles.
The reduction in days inventory outstanding to 83 days suggests that the company is successfully clearing older stock while ramping up high-capacity production. This efficiency gain is critical for maintaining cash flow stability given the inherent volatility of the hyperscale procurement environment.
According to recent quarterly filings, Seagate has aggressively reduced its debt-to-EBITDA ratio to 0.37 in 2026Q3, a dramatic improvement from the 30.48 level recorded in 2024Q2, which significantly lowers the company's interest burden and mitigates the refinancing risks that previously constrained its operational flexibility.
This rapid deleveraging appears to be a strategic priority, providing a much-needed buffer against future cyclical downturns. While the balance sheet is structurally healthier, the persistent retained earnings deficit suggests that historical capital allocation decisions continue to weigh on the overall equity profile.
Based on an analysis of Seagate's financial structure, the Price-to-Book ratio is frequently misapplied to this business model, as it fails to account for the significant impact of historical share repurchases and restructuring charges that have artificially depressed the company's reported book value.
Investors should instead focus on ROIC and free cash flow generation to assess the company's true earning power. Relying on P/B in a capital-intensive, cyclical hardware business often leads to misleading conclusions about valuation, as it ignores the intangible value of proprietary IP and manufacturing scale.
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying STX stock.
Seagate Technology Holdings plc's current P/E ratio is 135.2x. The historical average is 15.2x. This places it at the 100th percentile of its historical range.
Seagate Technology Holdings plc's current EV/EBITDA is 95.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.2x.
Based on historical data, Seagate Technology Holdings plc is trading at a P/E of 135.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Seagate Technology Holdings plc's current dividend yield is 0.30% with a payout ratio of 40.8%.
Seagate Technology Holdings plc has 35.2% gross margin and 20.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Seagate Technology Holdings plc's Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.