Seagate Technology PLC (STX)
Payables 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 |
| Payables | US$ in thousands | 1,604,000 | 1,467,000 | 1,567,000 | 1,778,000 | 1,786,000 | 1,672,000 | 1,619,000 | 1,511,000 | 1,603,000 | 1,697,000 | 1,085,000 | 1,712,000 | 2,058,000 | 1,948,000 | 1,812,000 | 1,766,000 | 1,725,000 | 1,861,000 | 1,730,000 | 1,795,000 |
| Payables turnover | 3.68 | 3.85 | 3.50 | 2.90 | 2.81 | 3.01 | 3.30 | 3.83 | 3.76 | 3.89 | 6.51 | 4.43 | 3.98 | 4.34 | 4.66 | 4.65 | 4.50 | 4.02 | 4.32 | 4.17 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $5,897,000K ÷ $1,604,000K
= 3.68
The payables turnover ratio for Seagate Technology PLC has exhibited notable fluctuations over the observed period from September 2020 through June 2025. Initially, the ratio increased from 4.17 in September 2020 to a peak of 4.66 in December 2021, indicating a period of more efficient or faster payment to suppliers during this interval. This peak suggests that the company was settling its payables more promptly relative to its cost of goods sold or purchases.
Subsequently, there was a decline in the ratio, dropping to 3.89 in March 2023 and continuing downward to 2.81 by June 2024. This downward trend reflects a slower rate of settling payables in relation to purchases, potentially indicating extended credit periods granted by suppliers, strategic shifts in payment policies, or changes in the company's liquidity position. It may also denote a cautious approach towards working capital management or potential supply chain considerations.
In late 2024 and into mid-2025, the ratio experienced a modest recovery, rising to about 3.50 in December 2024 and reaching approximately 3.85 by March 2025 before slight decline to 3.68 in June 2025. These fluctuations may point to adjustments in payment practices, supplier negotiations, or operational considerations impacting payables management.
Overall, the trend from 2020 to 2025 highlights a pattern of increased payment efficiency during the earlier period, followed by a deliberate extension of payables, which persisted through the subsequent years. These dynamics could reflect strategic or external factors influencing Seagate’s supplier relationships and liquidity planning over the analyzed timeframe.
Peer comparison
Jun 30, 2025