Logitech vs Seagate Technology

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KIRA’s take AI analyst

I put Logitech and Seagate Technology side by side, using each one’s latest annual report. Here is what stands out:

Seagate Technology is the larger business, with $12.2B of revenue in fiscal 2026 against $4.8B for Logitech, about 2.5 times as much.
Seagate Technology grew revenue faster (34.1%, against 6.3%).
Seagate Technology kept more of each dollar of sales as operating profit (33.6% operating margin, against 16.0%).
Seagate Technology turned more of its sales into free cash flow (25.5% FCF margin, against 20.2%).
Logitech earned a higher return on the capital invested in it (121.9%, against 92.0%).

Who comes out ahead

Of the 11 measures where higher (or lower) is clearly better, how many each company leads.

Logitech

LOGI

3/11

Return on capitalNet debt / EBITDAShare count change

Seagate Technology

STX

8/11

Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on equityPiotroski F-score

Side by side

Best in the row

Latest fiscal year	LOGI FY26	STX FY26
Size
Market cap	$15.9B	$147.5B
Revenue	$4.8B	$12.2B
Free cash flow	$976M	$3.1B
Net income	$711M	$3.2B
Growth
Revenue growth	6.3%	34.1%
5-year growth	−1.6%	2.7%
Share count change	−3.0%	5.5%
Profitability
Gross margin	43.2%	45.6%
Operating margin	16.0%	33.6%
Net margin	14.7%	26.1%
FCF margin	20.2%	25.5%
Return on capital	121.9%	92.0%
Return on equity	32.8%	371.5%
Balance sheet
Net debt	−$1.7B	$1.9B
Net debt / EBITDA	−2.0x	0.4x
Dividends and buybacks	$768M	$810M
Valuation & quality
P/E	20.2x	—
Piotroski F-score	7	8

Ten years

Revenue

FY17

LOGI $2.2B

STX $10.8B

FY18

LOGI $2.6B

STX $11.2B

FY19

LOGI $2.8B

STX $10.4B

FY20

LOGI $3.0B

STX $10.5B

FY21

LOGI $5.3B

STX $10.7B

FY22

LOGI $5.5B

STX $11.7B

FY23

LOGI $4.5B

STX $7.4B

FY24

LOGI $4.3B

STX $6.6B

FY25

LOGI $4.6B

STX $9.1B

FY26

LOGI $4.8B

STX $12.2B

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LOGI STX

Operating margin

FY17

LOGI 9.5%

STX 9.8%

FY18

LOGI 9.0%

STX 14.6%

FY19

LOGI 9.4%

STX 14.3%

FY20

LOGI 9.3%

STX 12.4%

FY21

LOGI 21.9%

STX 14.0%

FY22

LOGI 14.1%

STX 16.8%

FY23

LOGI 10.1%

STX −4.6%

FY24

LOGI 13.7%

STX 6.9%

FY25

LOGI 14.4%

STX 20.8%

FY26

LOGI 16.0%

STX 33.6%

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LOGI STX

Free cash flow

FY17

LOGI $257M

STX $1.5B

FY18

LOGI $307M

STX $1.7B

FY19

LOGI $269M

STX $1.2B

FY20

LOGI $386M

STX $1.1B

FY21

LOGI $1.4B

STX $1.1B

FY22

LOGI $209M

STX $1.3B

FY23

LOGI $442M

STX $626M

FY24

LOGI $1.1B

STX $664M

FY25

LOGI $786M

STX $818M

FY26

LOGI $976M

STX $3.1B

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LOGI STX

Return on capital

FY17

LOGI 73.9%

STX 23.8%

FY18

LOGI 57.5%

STX 32.1%

FY19

LOGI 51.0%

STX 33.7%

FY20

LOGI 41.1%

STX 30.0%

FY21

LOGI 147.4%

STX 33.1%

FY22

LOGI 81.3%

STX 76.5%

FY23

LOGI 33.1%

STX −13.8%

FY24

LOGI 63.5%

STX 10.8%

FY25

LOGI 87.5%

STX 56.7%

FY26

LOGI 121.9%

STX 92.0%

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LOGI STX

Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.