Seagate Technology PLC (STX)
Gross profit margin
| 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 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 2,886,000 | 2,551,000 | 2,101,000 | 1,536,000 | 1,240,000 | 1,134,000 | 1,018,000 | 1,351,000 | 1,806,000 | 2,293,000 | 2,995,000 | 3,469,000 | 3,595,000 | 3,529,000 | 3,277,000 | 2,917,000 | 2,699,000 | 2,705,000 | 2,767,000 | 2,842,000 |
| Revenue (ttm) | US$ in thousands | 8,540,000 | 8,035,000 | 7,265,000 | 6,551,000 | 6,266,000 | 6,471,000 | 6,803,000 | 7,384,000 | 8,410,000 | 9,352,000 | 10,581,000 | 11,661,000 | 12,046,000 | 11,975,000 | 11,482,000 | 10,681,000 | 10,185,000 | 10,172,000 | 10,245,000 | 10,509,000 |
| Gross profit margin | 33.79% | 31.75% | 28.92% | 23.45% | 19.79% | 17.52% | 14.96% | 18.30% | 21.47% | 24.52% | 28.31% | 29.75% | 29.84% | 29.47% | 28.54% | 27.31% | 26.50% | 26.59% | 27.01% | 27.04% |
March 31, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,886,000K ÷ $8,540,000K
= 33.79%
The gross profit margin of Seagate Technology PLC has exhibited notable fluctuations over the analyzed period. Initially, in the fiscal year ending June 30, 2020, the gross profit margin was approximately 27.04%, maintaining relatively stable figures through September and December of 2020 at 27.01% and 26.59%, respectively. The margin experienced a slight decrease early in 2021, reaching 26.50% at the end of March, but subsequently showed an upward trend, peaking at 29.84% by March 31, 2022.
Between the latter half of 2022 and early 2023, the gross profit margin witnessed a consistent decline, falling sharply from 29.75% at June 30, 2022, to a low of 21.47% by March 31, 2023. This downward trajectory continued into mid-2023, reaching a nadir of 14.96% at September 30, 2023. A modest recovery followed, with the margin increasing to 17.52% at December 31, 2023, and further improving to 19.79% by March 31, 2024.
From mid-2024 onward, the gross profit margin demonstrated a significant upward trend, rising from 23.45% at June 30, 2024, to 28.92% at September 30, 2024, and reaching 31.75% at December 31, 2024. The margin continued to improve in early 2025, culminating in an estimated 33.79% at March 31, 2025.
Overall, the data indicates periods of margin compression followed by recovery phases. The initial stability within 2020 and early 2021 was succeeded by a period of margin expansion reaching nearly 30% in early 2022. The subsequent decline in late 2022 to early 2023 suggests increased competitive pressures, rising costs, or strategic shifts impacting profitability. The notable rebound from mid-2024 indicates a possible turnaround in operational efficiency, cost management, or product mix. This evolving trend underscores a response to market dynamics and internal performance factors affecting Seagate’s profitability margins over time.
Peer comparison
Mar 31, 2025