WESTERN DIGITAL CORP WDC

Technology SIC 3572 - Computer Storage Devices NAICS Manufacturing › Computer and Electronic Product Manufacturing › Computer and Peripheral Equipment Manufacturing › Computer Storage Device Manufacturing derived Nasdaq

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.

Last close 343.67 2026-10-23
Market cap $123.91B 2026-07-03 share count
52-week range 121.85 - 799.87

Valuation FY2026 figures against the last close

P/S9.6x
P/E14.2x
P/FCF35.3x
EV/EBITDA25.6x
Dividend yield0.1%
Diluted EPS24.28

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • China
  • Europe, Middle East and Africa
  • Hong Kong
  • Rest of Asia
  • Other
Revenue by geography, 6 categories over 3 years. The same figures are in the table below. FY2026 United States, FY2026: 5.2B (40.0%) 40% United States China, FY2026: 2.5B (19.7%) 20% China Europe, Middle East and Africa, FY2026: 2.1B (16.4%) 16% Hong Kong, FY2026: 1.5B (11.5%) 12% Hong Kong Rest of Asia, FY2026: 1.1B (8.5%) 8% Rest of Asia Other, FY2026: 513M (4.0%) 4% Other FY2025 United States, FY2025: 4.3B (45.5%) 45% China, FY2025: 1.5B (16.3%) 16% Europe, Middle East and Africa, FY2025: 1.5B (16.1%) 16% Hong Kong, FY2025: 1.1B (11.0%) 11% Rest of Asia, FY2025: 792M (8.3%) 8% Other, FY2025: 264M (2.8%) FY2024 United States, FY2024: 2.6B (41.7%) 42% China, FY2024: 488M (7.7%) 8% Europe, Middle East and Africa, FY2024: 1.1B (16.9%) 17% Hong Kong, FY2024: 1.3B (21.1%) 21% Rest of Asia, FY2024: 573M (9.1%) 9% Other, FY2024: 222M (3.5%) 4%
Region FY2026FY2025FY2024
United States $5.17B $4.33B $2.64B
China $2.54B $1.55B $488.0M
Europe, Middle East and Africa $2.11B $1.54B $1.07B
Hong Kong $1.49B $1.05B $1.33B
Rest of Asia $1.09B $792.0M $573.0M
Other $513.0M $264.0M $222.0M

As the company reported it, from the “Disaggregated Revenue, Geographic Information, Concentrations of Risk, and Segment Reporting - Revenue by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
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 26.925.31-2.61-5.374.962.69-0.84-2.582.271.38
EPS, diluted 24.285.12-2.61-5.374.892.66-0.84-2.582.201.34
Shares, diluted (wtd. avg.) 383.0M359.0M326.0M318.0M316.0M309.0M298.0M292.0M307.0M296.0M

Balance sheet

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
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 FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -10B 0 10B 20B 30B Revenue, FY2017: 19.1B Gross profit, FY2017: 6.1B Net income, FY2017: 397M Revenue, FY2018: 20.6B Gross profit, FY2018: 7.7B Net income, FY2018: 675M Revenue, FY2019: 16.6B Gross profit, FY2019: 3.8B Net income, FY2019: -754M Revenue, FY2020: 16.7B Gross profit, FY2020: 3.8B Net income, FY2020: -250M Revenue, FY2021: 16.9B Gross profit, FY2021: 4.5B Net income, FY2021: 821M Revenue, FY2022: 18.8B Gross profit, FY2022: 5.9B Net income, FY2022: 1.5B Revenue, FY2023: 6.3B Gross profit, FY2023: 1.4B Net income, FY2023: -1.7B Revenue, FY2024: 6.3B Gross profit, FY2024: 1.8B Net income, FY2024: -798M Revenue, FY2025: 9.5B Gross profit, FY2025: 3.7B Net income, FY2025: 1.9B Revenue, FY2026: 12.9B Gross profit, FY2026: 6.3B Net income, FY2026: 9.4B FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue $19.09B $20.65B $16.57B $16.74B $16.92B $18.79B $6.25B $6.32B $9.52B $12.92B
Gross profit $6.07B $7.71B $3.75B $3.78B $4.52B $5.87B $1.39B $1.77B $3.69B $6.31B
Net income $397.0M $675.0M -$754.0M -$250.0M $821.0M $1.55B -$1.68B -$798.0M $1.89B $9.42B

Recent filings and events

  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Unregistered share sale Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Unregistered share sale Item 3.02
  • Unregistered share sale Item 3.02
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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