HIGHBuilt-inProduct / Revenue mix
Data Center markets
“10-K Item 1: 'The vast majority of our business is derived from the Data Center markets.'”
STX · Concentration risk · 10-K extracted
Seagate Technology Holdings (STX) concentration risks
Updated
The most significant concentration Seagate Technology Holdings discloses is Data Center markets, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Seagate Technology Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM2
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
key customers hyperscale data center companies and CSPs
“10-K Item 1A: 'A limited number of our key customers, including OEMs, large hyperscale data center companies and CSPs, account for a significant portion of our revenue.'”
MEDIUMOutside partySupplier
components and raw materials from limited number of suppliers
“10-K Item 1: 'Certain components and raw materials are available from a limited number of suppliers'”
LOWOutside partyCustomer
14%
one customer
“10-K Item 1A: 'In fiscal year 2026, one customer accounted for approximately 14% of our consolidated revenue.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18Seagate's central concentration is structural: the vast majority of its business is derived from the Data Center markets, a high-share exposure that makes results dependent on a single end-market cycle. That end-market concentration feeds directly into the customer base. A limited number of key customers, including OEMs, large hyperscale data center companies and CSPs, account for a significant portion of revenue, a medium-share dependency. The named single-customer share is smaller: in fiscal year 2026, one customer accounted for approximately 14% of consolidated revenue, a low-share exposure on its own, which suggests the dependency is spread across a cohort of large buyers and not resting on one account. On the supply side, certain components and raw materials are available from a limited number of suppliers, a medium-share dependency that could constrain output regardless of demand. Taken together, the data center concentration is the structural exposure most likely to move the verdict, since the customer dependency is a consequence of it. The supplier dependency is the more idiosyncratic, operational risk.
For the engine’s reasoning on STX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Computer Hardware
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CRCT | Cricut, Inc. | 2 | 1 | 0 | 3 |
| STX● | Seagate Technology Holdings PLC | 1 | 2 | 1 | 4 |
| ANET | Arista Networks, Inc. | 0 | 2 | 1 | 3 |
| CRSR | Corsair Gaming, Inc. | 0 | 2 | 0 | 2 |
| DDD | 3D Systems Corporation | 0 | 0 | 0 | 0 |
| DELL | Dell Technologies Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.