Seagate Technology PLC (STX)
Inventory turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 5,897,000 | 5,654,000 | 5,484,000 | 5,164,000 | 5,015,000 | 5,026,000 | 5,337,000 | 5,785,000 | 6,033,000 | 6,604,000 | 7,059,000 | 7,586,000 | 8,192,000 | 8,451,000 | 8,446,000 | 8,205,000 | 7,764,000 | 7,486,000 | 7,467,000 | 7,478,000 |
| Inventory | US$ in thousands | 1,440,000 | 1,472,000 | 1,473,000 | 1,383,000 | 1,239,000 | 1,191,000 | 1,053,000 | 1,052,000 | 1,140,000 | 1,200,000 | 1,194,000 | 1,606,000 | 1,565,000 | 1,479,000 | 1,287,000 | 1,188,000 | 1,204,000 | 1,281,000 | 1,318,000 | 1,323,000 |
| Inventory turnover | 4.10 | 3.84 | 3.72 | 3.73 | 4.05 | 4.22 | 5.07 | 5.50 | 5.29 | 5.50 | 5.91 | 4.72 | 5.23 | 5.71 | 6.56 | 6.91 | 6.45 | 5.84 | 5.67 | 5.65 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $5,897,000K ÷ $1,440,000K
= 4.10
The inventory turnover ratio of Seagate Technology PLC demonstrates a fluctuating pattern over the period from September 2020 to June 2025. Initially, it experienced a gradual increase from 5.65 times in September 2020 to a peak of 6.91 times in September 2021, indicating a period of increasingly efficient inventory management and potentially improved sales performance.
Subsequently, the ratio declined somewhat, reaching 5.71 times by March 2022, before experiencing a more notable decrease to 4.72 times in September 2022. This decline suggests a reduction in inventory turnover efficiency, possibly reflecting increased inventory holdings relative to sales, or a slowdown in inventory sales velocity during this period.
From December 2022 onward, the ratio shows a modest recovery to 5.91 times, but subsequently exhibits a downward trend again, reaching a low of 3.72 times by December 2024. The ratio remains relatively steady around 4.0 times in the early part of 2025, with a slight uptick to 4.10 times by June 2025.
Overall, the inventory turnover ratio's trajectory indicates periods of both improvement and decline in inventory efficiency. The decline from its peak to the recent low suggests that inventory management or demand conditions may have become less favorable during this timeframe. Nonetheless, the ratios remain within a moderate range consistent with industry practices for technology manufacturing companies, reflecting ongoing operational adjustments in response to market dynamics.
Peer comparison
Jun 30, 2025
Jun 30, 2025