Seagate Technology Holdings (STX) FY2020 results: revenue $10.5 billion, up 1.1% on the year
Seagate Technology Holdings plc (STX) reported revenue of $10.5 billion for fiscal 2020, the year ended 3 July 2020, up 1.1% on the year before. Net income was $1.0 billion, down 50.1%, and diluted earnings per share $3.79. The figures are the company's own, from the 10-K it filed with the SEC on 7 August 2020.
Revenue
$10.5 billion
+1.1% on the year
FY2013FY2020
Operating margin
12.4%
14.3% a year earlier
FY2013FY2020
Net income
$1.0 billion
-50.1% on the year
FY2013FY2020
Diluted EPS
$3.79
-46.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
10,509
10,390
11,184
+1.1%
Cost of revenue
7,667
7,458
7,820
+2.8%
Gross profit
2,842
2,932
3,364
-3.1%
Gross margin
27.0%
28.2%
30.1%
Research and development
973
991
1,026
-1.8%
Selling, general and administrative
473
453
562
+4.4%
Operating income
1,300
1,487
1,634
-12.6%
Operating margin
12.4%
14.3%
14.6%
Interest expense
201
224
236
-10.3%
Pre-tax income
1,032
1,372
1,418
-24.8%
Income tax
28.0
-640
236
Effective tax rate
2.7%
-46.6%
16.6%
Net income
1,004
2,012
1,182
-50.1%
Net margin
9.6%
19.4%
10.6%
Diluted EPS
$3.79
$7.06
$4.05
-46.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,714
1,761
2,113
-2.7%
Capital expenditure
585
602
366
-2.8%
Free cash flow
1,129
1,159
1,747
-2.6%
Free cash flow margin
10.7%
11.2%
15.6%
Cash from investing
-635
846
-1,588
Cash from financing
-1,605
-2,212
-1,211
Depreciation and amortisation
379
541
598
-29.9%
Share-based compensation
109
99.0
112
+10.1%
Buybacks
850
963
361
-11.7%
Dividends paid
673
713
726
-5.6%
Dividend per share
$2.58
$2.52
$2.52
+2.4%
Diluted shares, weighted
265m
285m
292m
-7.0%
Shares outstanding at period end
257m
269m
287m
-4.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,787
2,162
1,665
-17.3%
Debt
4,249
4,291
4,862
-1.0%
Operating lease liabilities
49.0
n/a
n/a
Other liabilities
2,845
2,432
2,883
+17.0%
Total liabilities and equity
8,930
8,885
9,410
+0.5%
Fixed assets
2,129
1,869
1,792
+13.9%
Goodwill
1,237
1,237
1,237
0.0%
Intangible assets
58.0
111
188
-47.7%
Securities held for sale or to maturity
569
557
1,016
+2.2%
Cash and equivalents
1,722
2,220
1,853
-22.4%
Receivables
1,115
989
1,184
+12.7%
Inventory
1,142
970
1,053
+17.7%
Other assets
958
932
1,087
+2.8%
Total assets
8,930
8,885
9,410
+0.5%
10-K for the year ended 3 July 2020, filed 7 August 2020: the filing.