Seagate Technology’s FY2025 results show a storage company with $9,097 million in consolidated revenue, 595 exabytes of HDD capacity shipments, and 29,861 employees worldwide. The figures below distinguish fiscal-year financial and workforce measures from calendar-year environmental data, and identify company-defined categories and geographic attribution methods.
Key Seagate Statistics
The most broadly useful Seagate statistics are:
- $9,097 million of consolidated revenue was reported for Seagate’s FY2025 ended June 27, 2025.
- FY2025 revenue increased 39% year over year, or $2,546 million, for Seagate consolidated compared with FY2024.
- $11,661 million of consolidated revenue was reported for Seagate’s FY2022 ended July 1, 2022.
- 35% gross margin was reported for Seagate consolidated in FY2025.
- 595 exabytes of HDD capacity were shipped worldwide by Seagate in FY2025.
- 552 exabytes of mass-capacity HDD shipments were recorded worldwide in FY2025.
- 84% of FY2025 shipped exabytes came from nearline products in Seagate’s worldwide HDD shipments.
- $14 per terabyte was FY2025 HDD price per terabyte for Seagate’s blended worldwide HDD metric.
- 80% of FY2025 revenue came from OEMs in Seagate’s consolidated revenue-channel mix.
- 49% of FY2025 revenue was attributed to the Americas by bill-from location.
- 81% of FY2025 revenue came from mass capacity under Seagate’s company-defined market categories.
- $818 million of free cash flow was reported by Seagate consolidated in FY2025.
- $600 million was returned to shareholders through dividends in FY2025.
- 29,861 employees were reported worldwide in Seagate’s June 27, 2025 people data table.
- 5,020,478 metric tons CO2e of market-based total GHG emissions were reported for Seagate in calendar year 2024.
- More than 57% of CY2024 total energy consumption came from renewable sources across Seagate operations.
- 90% of FY2025 non-hazardous waste was diverted from landfill at sites under Seagate ownership and operational control.
- 67 total recordable work-related cases, at a rate of 0.21, were reported for Seagate’s FY2025 workforce.
Contents
- Revenue, profitability and multi-year Seagate trends
- HDD shipment capacity and storage mix
- Revenue channels, geographies and served markets
- Cash flow, capital returns and balance sheet
- Workforce and employee demographics
- Sustainability, energy, water, waste and safety
Revenue, Profitability and Multi-Year Seagate Trends
Seagate’s fiscal-year revenue moved sharply across the reported period. FY2025 ended June 27, 2025, FY2024 ended June 28, 2024, and FY2023 ended June 30, 2023; these are Seagate fiscal periods rather than calendar years.
| Fiscal year | Consolidated revenue | Gross margin | Scope |
|---|---|---|---|
| FY2022, ended July 1, 2022 | $11,661 million | Not listed here | GAAP consolidated revenue |
| FY2023, ended June 30, 2023 | $7,384 million | 18.3% | GAAP consolidated revenue and margin |
| FY2024, ended June 28, 2024 | $6,551 million | 23% | GAAP consolidated revenue and rounded margin |
| FY2025, ended June 27, 2025 | $9,097 million | 35% | GAAP consolidated revenue and rounded margin |
FY2025 revenue increased 39%, equal to a company-reported $2,546 million increase from FY2024. FY2025 gross profit was $3,200 million and operating profit was $1,890 million, both for Seagate consolidated.
The FY2025 gross margin was 35%, compared with 23% in FY2024 and 18.3% in FY2023. The FY2024 and FY2025 percentages are rounded company presentations, while the FY2023 margin is reported as 18.3%.
Sources: Seagate Technology Holdings plc 2025 Form 10-K, Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2024 Financial Results, and Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2023 Financial Results.
HDD Shipment Capacity and Storage Mix Statistics
Seagate’s exabyte figures measure worldwide HDD capacity shipments, not the number of drives sold and not installed end-user storage. The company’s FY2025 shipment data shows both a larger capacity base and a stronger concentration in mass-capacity and nearline products.
| Measure | FY2024 | FY2025 | Definition |
|---|---|---|---|
| Total HDD shipments | 398 exabytes | 595 exabytes | Worldwide Seagate HDD capacity shipments |
| Mass-capacity shipments | 355 exabytes | 552 exabytes | Company-defined mass-capacity market |
| Legacy shipments | Not listed here | 43 exabytes | Company-defined legacy market |
| Blended HDD price | $15/TB | $14/TB | Company-reported price per terabyte |
FY2025 HDD volume shipments increased 49% year over year. Mass-capacity shipments rose from 355 exabytes in FY2024 to 552 exabytes in FY2025, while nearline products contributed 84% of FY2025 total exabytes shipped.
Seagate also reported more than 1 million Mozaic hard drives shipped worldwide in FY2025. “More than 1 million” is a lower bound rather than an exact shipment count, and the sustainability report describes the company’s statement rather than an independently calculated total.
Source: Seagate Technology Holdings plc 2025 Form 10-K and FY2025 Sustainability Report.
Seagate Revenue Channels, Geographies and Served Markets
Seagate’s FY2025 revenue mix was dominated by OEMs and by its company-defined mass-capacity category. Channel percentages describe consolidated revenue, while geographic percentages use bill-from location and therefore do not necessarily represent the customer’s end use.
| FY2025 category | Share of revenue | Measurement definition |
|---|---|---|
| OEMs | 80% | Revenue channel |
| Distributors | 12% | Revenue channel |
| Retailers | 8% | Revenue channel |
| Mass capacity | 81% | Company-defined market |
| Legacy | 12% | Company-defined market |
| Other markets | 7% | Company-defined residual category |
By bill-from location, the Americas accounted for 49% of FY2025 revenue, Asia Pacific for 41%, and EMEA for 10%. These geographic shares are rounded company-reported figures and should not be read as a direct allocation of storage consumption to end-user countries.
One customer accounted for approximately 10% of FY2025 consolidated revenue. The supplied company disclosure identifies the concentration level but does not identify that customer here.
Source: Seagate Technology Holdings plc 2025 Form 10-K.
Seagate Cash Flow, Capital Returns and Balance-Sheet Data
FY2025 cash generation included $1.1 billion of operating cash flow and $818 million of company-reported non-GAAP free cash flow. Seagate returned $600 million to shareholders through dividends during that fiscal year.
| Measure | Period | Amount | Scope |
|---|---|---|---|
| Operating cash flow | FY2025 | $1.1 billion | GAAP net cash from operating activities, rounded |
| Free cash flow | FY2025 | $818 million | Company-reported non-GAAP measure |
| Dividends to shareholders | FY2025 | $600 million | Company-reported shareholder return |
| Operating cash flow | FY2023 | $942 million | GAAP net cash from operating activities |
| Free cash flow | FY2023 | $626 million | Company-reported non-GAAP measure |
| Shareholder returns | FY2023 | $990 million | Dividends and repurchases combined |
The FY2024 year-end balance sheet, measured on June 28, 2024, reported $1,358 million in cash and cash equivalents and $7,739 million in total assets. It also reported $5,195 million in long-term debt less the current portion and $3,099 million in total current liabilities.
The FY2023 shareholder-return figure combines dividends and share repurchases, whereas the FY2025 figure above is stated as dividends. They should not be treated as identical categories.
Sources: Seagate Technology Holdings plc 2025 Form 10-K, Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2024 Financial Results, and Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2023 Financial Results.
Seagate Workforce and Employee Demographics
Seagate’s people data table counted regular and temporary employees in the HR system on June 27, 2025. Temporary employees include interns and fixed-term contracts, and the report notes disclosure limitations for some demographic categories.
| Geography | Total employees | Regular | Temporary |
|---|---|---|---|
| Worldwide | 29,861 | Not separately listed here | Included in total |
| Asia | 24,839 | 24,690 | 149 |
| Americas | 3,296 | 3,176 | 120 |
| EMEA | 1,726 | 1,698 | 28 |
The same June 27, 2025 workforce table reported 17,521 female employees, including 17,407 regular and 114 temporary employees, and 12,321 male employees, including 12,138 regular and 183 temporary employees. Gender categories may not sum to 100% because some employees did not disclose.
Women represented 33.4% of management globally and 25.4% of global technical employees. Women represented 76.3% of all other global employees under Seagate’s job-category classification.
These percentages describe the company’s demographic categories and are not estimates of the gender composition of the broader storage industry. The geographic counts describe Seagate’s worldwide workforce, not contractors outside the HR system.
Source: FY2025 Sustainability Report.
Seagate Sustainability, Energy, Water, Waste and Safety Statistics
Seagate’s environmental figures use calendar-year data where marked CY2024 and fiscal-year data where marked FY2025. Greenhouse-gas totals include Scope 1, Scope 2 and Scope 3, with the Scope 2 method identified below.
| Environmental measure | Period | Result | Boundary or method |
|---|---|---|---|
| Market-based total GHG emissions | CY2024 | 5,020,478 metric tons CO2e | Scope 1, 2 and 3; market-based Scope 2 |
| Location-based total GHG emissions | CY2024 | 5,463,234 metric tons CO2e | Scope 1, 2 and 3; location-based Scope 2 |
| Direct Scope 1 emissions | CY2024 | 274,114 metric tons CO2e | Seagate sites |
| Market-based Scope 2 emissions | CY2024 | 259,664 metric tons CO2e | Purchased energy |
| Upstream Scope 3 emissions | CY2024 | 1,063,500 metric tons CO2e | Relevant upstream categories |
| Downstream Scope 3 emissions | CY2024 | 3,423,200 metric tons CO2e | Relevant downstream categories |
Seagate reported 892,291 MWh of grid electricity from renewable-energy certificates in CY2024. Renewable sources accounted for more than 57% of total energy consumption in Seagate operations; the percentage is a lower bound because the company reports it as “more than 57%.”
Water withdrawal and recycling were separately reported for CY2024. Seagate withdrew 7,271 megaliters and recycled 3,223 megaliters, so withdrawal should not be interpreted as water consumption.
FY2025 non-hazardous waste generation was 15,888 metric tons at sites under Seagate ownership and operational control, with a 90% landfill-diversion rate. Seagate also transported 4,453 metric tons of hazardous waste to in-country treatment, storage and disposal facilities, and reported that 83% of FY2025 hazardous waste was diverted from disposal.
For workforce safety in FY2025, Seagate reported 67 total recordable work-related cases and a rate of 0.21 cases per 200,000 hours. The measure includes work-related injury and illness, and the denominator is the company’s stated 200,000-hour basis.
Source: FY2025 Sustainability Report.