Does Seagate Technology Stock Lead the Pack?
Seagate’s stock has seen remarkable returns over the past year, significantly outperforming due to the booming data-center and AI storage market. A closer look reveals robust demand for its HAMR-enabled HDDs, solid profitability with a 21.1% LTM operating margin and 8.99% FCF margin, and 38.9% LTM revenue growth. While analysts are bullish and its Nasdaq-100 inclusion is positive, its 41.4 PE ratio and moderate valuation may offer limited upside from current levels if AI spending momentum slows.
- STX’s 21.1% operating margin is solid, though NVDA’s 58.8% highlights its AI chip dominance and premium pricing power.
- STX’s 38.9% revenue growth, driven by AI/cloud storage demand, outpaces AMD’s but trails NVDA, MU, and WDC benefiting from AI infrastructure.
- STX’s stock surged 229.4% with a 41.4 PE, fueled by AI/cloud storage demand, though WDC also saw strong returns.
Here’s how Seagate Technology stacks up across size, valuation, and profitability versus key peers.
| STX | NVDA | AMD | MU | WDC | |
|---|---|---|---|---|---|
| Market Cap ($ Bil) | 60.8 | 4,468.6 | 349.5 | 311.2 | 61.9 |
| Revenue ($ Bil) | 9.1 | 187.1 | 32.0 | 42.3 | 13.3 |
| PE Ratio | 41.4 | 45.0 | 105.7 | 26.1 | 33.1 |
| LTM Revenue Growth | 38.9% | 65.2% | 31.8% | 45.4% | 39.2% |
| LTM Operating Margin | 21.1% | 58.8% | 9.4% | 32.5% | 21.1% |
| LTM FCF Margin | 9.0% | 41.3% | 17.0% | 11.0% | 9.6% |
| 12M Market Return | 229.4% | 36.4% | 80.3% | 208.2% | 293.9% |
For more details on Seagate Technology, read Buy or Sell STX Stock. Below we compare STX’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| STX | 38.9% | 38.9% | -11.3% | -36.7% | |
| NVDA | 65.2% | 114.2% | 125.9% | 0.2% | |
| AMD | 31.8% | – | 13.7% | -3.9% | 43.6% |
| MU | 45.4% | 48.9% | 61.6% | -49.5% | |
| WDC | 39.2% | 50.7% | 1.0% | -66.7% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| STX | 21.1% | 21.1% | 6.4% | 0.8% | |
| NVDA | 58.8% | 62.4% | 54.1% | 20.7% | |
| AMD | 9.4% | – | 8.1% | 1.8% | 5.4% |
| MU | 32.5% | 26.2% | 5.2% | -34.8% | |
| WDC | 21.1% | 22.4% | 1.5% | -6.4% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| STX | 41.4 | 12.5 | 53.3 | -20.6 | |
| NVDA | 45.0 | 45.2 | 41.1 | 83.2 | |
| AMD | 105.7 | – | 119.2 | 278.6 | 76.6 |
| MU | 26.1 | 11.0 | 121.2 | -9.4 | |
| WDC | 33.1 | 11.1 | -21.4 | -6.0 |
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