Seagate Technology Holdings (STX) FY2019 results: revenue $10.4 billion, down 7.1% on the year
Seagate Technology Holdings plc (STX) reported revenue of $10.4 billion for fiscal 2019, the year ended 28 June 2019, down 7.1% on the year before. Net income was $2.0 billion, up 70.2%, and diluted earnings per share $7.06. The figures are the company's own, from the 10-K it filed with the SEC on 2 August 2019.
Revenue
$10.4 billion
-7.1% on the year
FY2012FY2019
Operating margin
14.3%
14.6% a year earlier
FY2012FY2019
Net income
$2.0 billion
+70.2% on the year
FY2012FY2019
Diluted EPS
$7.06
+74.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
10,390
11,184
10,771
-7.1%
Cost of revenue
7,458
7,820
7,597
-4.6%
Gross profit
2,932
3,364
3,174
-12.8%
Gross margin
28.2%
30.1%
29.5%
Research and development
991
1,026
1,232
-3.4%
Selling, general and administrative
453
562
606
-19.4%
Operating income
1,487
1,634
1,054
-9.0%
Operating margin
14.3%
14.6%
9.8%
Interest expense
224
236
222
-5.1%
Pre-tax income
1,372
1,418
815
-3.2%
Income tax
-640
236
43.0
Effective tax rate
-46.6%
16.6%
5.3%
Net income
2,012
1,182
772
+70.2%
Net margin
19.4%
10.6%
7.2%
Diluted EPS
$7.06
$4.05
$2.58
+74.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,761
2,113
1,916
-16.7%
Capital expenditure
602
366
434
+64.5%
Free cash flow
1,159
1,747
1,482
-33.7%
Free cash flow margin
11.2%
15.6%
13.8%
Cash from investing
846
-1,588
-459
Cash from financing
-2,212
-1,211
-46.0
Depreciation and amortisation
541
598
749
-9.5%
Share-based compensation
99.0
112
137
-11.6%
Buybacks
963
361
460
+166.8%
Dividends paid
713
726
561
-1.8%
Dividend per share
$2.52
$2.52
$2.52
0.0%
Diluted shares, weighted
285m
292m
299m
-2.4%
Shares outstanding at period end
269m
287m
292m
-6.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,162
1,665
1,364
+29.8%
Debt
4,291
4,862
5,073
-11.7%
Other liabilities
2,432
2,883
2,831
-15.6%
Total liabilities and equity
8,885
9,410
9,268
-5.6%
Fixed assets
1,869
1,792
1,875
+4.3%
Goodwill
1,237
1,237
1,238
0.0%
Intangible assets
111
188
281
-41.0%
Investments
n/a
n/a
0.0
Securities held for sale or to maturity
557
1,016
n/a
-45.2%
Cash and equivalents
2,220
1,853
2,539
+19.8%
Receivables
989
1,184
1,199
-16.5%
Inventory
970
1,053
982
-7.9%
Other assets
932
1,087
1,154
-14.3%
Total assets
8,885
9,410
9,268
-5.6%
10-K for the year ended 28 June 2019, filed 2 August 2019: the filing.