WESTERN DIGITAL CORP WDC
Western Digital was founded in 1970 and is a Standard & Poor's 500 ("S&P 500") company headquartered in San Jose, California. We are a leading developer, manufacturer, and provider of data storage devices and solutions based on hard disk drive ("HDD") technology. HDDs are critical components in the worldwide data infrastructure market, powering the AI-driven digital economy. HDDs provide reliable, cost-effective, high-capacity storage needs for a wide range of applications, ranging from cloud data centers, enterprise storage systems, edge computing, and smart video to client and consumer devices.
At Western Digital, we believe that data storage provides the strategic foundation for the AI-driven data economy. We focus on designing and building data storage solutions that are intelligent, efficient, and reliable. We execute on this mission through rigorous scientific research, engineering excellence, and deep customer collaboration, so that each product advancement provides value for our customers and shareholders.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.92B | $9.52B | $6.32B | $6.25B | $18.79B | $16.92B | $16.74B | $16.57B | $20.65B | $19.09B |
| Cost of revenue | $6.61B | $5.83B | $4.54B | $4.86B | $12.92B | $12.40B | $12.96B | $12.82B | $12.94B | $13.02B |
| Gross profit | $6.31B | $3.69B | $1.77B | $1.39B | $5.87B | $4.52B | $3.78B | $3.75B | $7.71B | $6.07B |
| SG&A | $551.0M | $568.0M | $726.0M | $807.0M | $1.12B | $1.10B | $1.15B | $1.32B | $1.47B | $1.45B |
| Total operating expenses | $1.86B | $1.36B | $2.18B | $1.94B | $3.48B | $3.30B | $3.45B | $3.67B | $4.09B | $4.12B |
| Operating income | $4.45B | $2.33B | -$403.0M | -$548.0M | $2.39B | $1.22B | $335.0M | $87.0M | $3.62B | $1.95B |
| Interest expense | $165.0M | $357.0M | $414.0M | $310.0M | $304.0M | $326.0M | $413.0M | $469.0M | $676.0M | $847.0M |
| Pre-tax income | $9.90B | $1.13B | -$739.0M | -$849.0M | $2.17B | $927.0M | -$46.0M | -$287.0M | $2.08B | $769.0M |
| Income tax | $481.0M | $513.0M | $26.0M | $53.0M | $625.0M | $106.0M | $204.0M | $467.0M | $1.41B | $372.0M |
| Net income | $9.42B | $1.89B | -$798.0M | -$1.68B | $1.55B | $821.0M | -$250.0M | -$754.0M | $675.0M | $397.0M |
| EPS, basic | 26.92 | 5.31 | -2.61 | -5.37 | 4.96 | 2.69 | -0.84 | -2.58 | 2.27 | 1.38 |
| EPS, diluted | 24.28 | 5.12 | -2.61 | -5.37 | 4.89 | 2.66 | -0.84 | -2.58 | 2.20 | 1.34 |
| Shares, diluted (wtd. avg.) | $383.0M | $359.0M | $326.0M | $318.0M | $316.0M | $309.0M | $298.0M | $292.0M | $307.0M | $296.0M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.58B | $2.11B | $1.88B | $2.02B | $2.33B | $3.37B | $3.05B | $3.46B | $5.00B | $6.35B |
| Short-term investments | — | — | — | — | — | — | — | $0 | — | $24.0M |
| Receivables | $2.03B | $1.49B | $1.23B | $1.60B | $2.80B | $2.26B | $2.38B | $1.20B | $2.20B | $1.95B |
| Inventory | $1.51B | $1.29B | $1.39B | $3.70B | $3.64B | $3.62B | $3.07B | $3.28B | $2.94B | $2.34B |
| Total current assets | $5.63B | $5.86B | $8.06B | $7.89B | $9.45B | $9.76B | $9.05B | $8.48B | $10.64B | $11.06B |
| Property, plant and equipment | $2.48B | $2.34B | $2.36B | $3.62B | $3.67B | $3.19B | $2.85B | $2.84B | $3.10B | $3.03B |
| Goodwill | $4.32B | $4.32B | $4.32B | $10.04B | $10.04B | $10.07B | $10.07B | $10.08B | $10.07B | $10.01B |
| Other intangibles | — | — | $78.0M | $80.0M | $213.0M | $442.0M | $941.0M | $1.71B | $2.68B | $3.82B |
| Total assets | $13.86B | $14.00B | $24.19B | $24.55B | $26.26B | $26.13B | $25.66B | $26.37B | $29.23B | $29.86B |
| Accounts payable | $1.77B | $1.27B | $1.05B | — | $1.90B | $1.93B | $1.95B | $1.57B | $2.27B | $2.14B |
| Short-term debt | $1.05B | $2.23B | $1.75B | $1.21B | $0 | $251.0M | $286.0M | $276.0M | $179.0M | $233.0M |
| Total current liabilities | $4.24B | $5.42B | $6.09B | $5.43B | $5.24B | $4.87B | $4.41B | $3.82B | $4.46B | $4.34B |
| Long-term debt | $0 | $2.48B | $5.68B | $5.86B | $7.02B | $8.47B | $9.29B | $10.25B | $10.99B | $12.92B |
| Total liabilities | $5.00B | $8.46B | $13.14B | $12.71B | $14.04B | $15.41B | $16.11B | $16.40B | $17.70B | $18.44B |
| Retained earnings | $10.00B | $762.0M | $6.78B | $7.57B | $9.04B | $7.54B | $6.72B | $7.45B | $8.76B | $8.63B |
| Total equity | $8.86B | $5.31B | $10.82B | $10.96B | $12.32B | $10.80B | $9.55B | $9.97B | $11.53B | $11.42B |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.93B | $1.69B | -$294.0M | -$408.0M | $1.88B | $1.90B | $824.0M | $1.55B | $4.21B | $3.44B |
| Depreciation and amortisation | $375.0M | $451.0M | $568.0M | $389.0M | $708.0M | $726.0M | $797.0M | $844.0M | $871.0M | $960.0M |
| Stock-based compensation | $204.0M | $265.0M | $295.0M | $318.0M | $326.0M | $318.0M | $308.0M | $306.0M | $377.0M | $394.0M |
| Capital expenditure | $418.0M | $412.0M | $487.0M | $821.0M | $1.12B | $1.15B | $647.0M | $876.0M | $835.0M | $578.0M |
| Investing cash flow | -$429.0M | $150.0M | -$27.0M | -$762.0M | -$1.19B | -$765.0M | $278.0M | -$1.27B | -$1.66B | -$636.0M |
| Financing cash flow | -$4.03B | -$1.61B | $187.0M | $875.0M | -$1.72B | -$817.0M | -$1.51B | -$1.83B | -$3.90B | -$4.59B |
| Dividends paid | $174.0M | $44.0M | $0 | $0 | $0 | $0 | $595.0M | $584.0M | $593.0M | $574.0M |
| Buybacks | $2.59B | $149.0M | $0 | $0 | — | $0 | $0 | $563.0M | $591.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-057139.
Others in SIC 3572
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|---|---|---|---|---|
| SNDK | Sandisk Corp | $254.77B | 23.6x | 175.3% |
| STX | Seagate Technology Holdings plc | $192.48B | 61.1x | 34.1% |
| NTAP | NetApp, Inc. | $36.45B | 29.2x | 5.4% |
| P | Everpure, Inc. | $33.16B | 180.9x | 15.6% |
| QMCO | QUANTUM CORP /DE/ | $974.6M | — | 2.0% |