Western Digital
WDC Nasdaq· Technology Hardware, Storage & Peripherals
Last close · Oct 26, 2026
$356.13
KIRA · Stoqly’s AI analyst, in plain words
- Western Digital had $12.9B of revenue in fiscal 2026, up 35.7% on the year before. Over five years, revenue changed −5.3% a year on average.
- Its operating margin was 34.5%, up 10.0 pts: of every 100 in sales, about 34 is left after running the business.
- Western Digital made $9.4B of net profit in fiscal 2026. From fiscal 2017 to 2026, diluted EPS grew 38.0% a year.
- Free cash flow was $3.5B in fiscal 2026, 27.2% of revenue.
- Western Digital returned $2.8B to shareholders in fiscal 2026, 79% of free cash flow. The diluted share count rose 6.7%.
- Western Digital has $527M more cash than debt.
Market cap
$136.8B
P/E
13.8x
Revenue
$12.9B
Net income
$9.4B
Free cash flow
$3.5B
Operating margin
34.5%
Western Digital in 30 seconds · fiscal 2026
Are sales growing?
+35.7%
Yes. Sales grew 35.7% last year.
Does it make a profit?
73.0%
Yes. It keeps 73.0% of every sale as profit.
Does profit turn into cash?
27.2%
Yes. 27.2% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
How is the share priced?
13.8x
One share costs 13.8 times its yearly profit per share. Typical for its sector: 33.5x.
What Western Digital does
Western Digital designs and makes hard disk drives (HDDs), which store data by recording it magnetically on spinning disks. It sells them under the Western Digital and WD brands. It makes substantially all of the recording heads and magnetic media inside its drives. It split off its flash-memory business as a separate company, Sandisk. It sells into three end markets. Cloud covers high-capacity drives for data centers run by cloud, internet and social media companies and for enterprise storage, and is by far the largest. Client covers drives for desktop and notebook computers sold to computer makers and through channel partners. Consumer covers external storage products sold through retailers and channel partners. In the year ended July 3, 2026, the Cloud end market accounted for 89% of net revenue and its top 10 customers accounted for 73%.
Biggest risks, in its own words
- Losing a large Cloud customer, since a few customers account for most of its revenue.
- Not managing technology changes and new product launches well enough to stay competitive.
- Depending on a limited number of suppliers for key materials and components.
- Product defects that could lead to recalls, warranty claims or lawsuits.
- Fiscal year ends
- July 3, 2026
- Latest annual report
- 10-K · Aug 14, 2026
- Legal name
- WESTERN DIGITAL CORPORATION
- CIK
- 0000106040
Western Digital · WDC
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $18.8B | $6.3B | $6.3B | $9.5B | $12.9B |
| Revenue growth | 11.1% | −66.7% | 1.0% | 50.7% | 35.7% |
| Gross margin | 31.3% | 22.2% | 28.1% | 38.8% | 48.9% |
| Operating margin | 12.7% | −8.8% | −6.4% | 24.5% | 34.5% |
| Net income | $1.5B | −$1.7B | −$798M | $1.9B | $9.4B |
| Net margin | 8.2% | −26.9% | −12.6% | 19.8% | 73.0% |
| Diluted EPS | $4.89 | −$5.37 | −$2.61 | $5.12 | $24.28 |
| Cash | |||||
| Cash from operations | $1.9B | −$408M | −$294M | $1.7B | $3.9B |
| Capital expenditure | $1.1B | $821M | $487M | $412M | $418M |
| Free cash flow | $758M | −$1.2B | −$781M | $1.3B | $3.5B |
| FCF margin | 4.0% | −19.7% | −12.4% | 13.4% | 27.2% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $44.0M | $174M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $149M | $2.6B |
| Share count change | 2.3% | 0.6% | 2.5% | 10.1% | 6.7% |
| Debt and strength | |||||
| Cash and short-term investments | $2.3B | $2.0B | $1.6B | $2.1B | $1.6B |
| Debt incl. finance leases | $7.0B | $7.1B | $7.4B | $4.7B | $1.1B |
| Shareholders' equity | $12.3B | $11.0B | $10.8B | $5.3B | $8.9B |
| Net debt / EBITDA | 1.4x | 18.0x | 35.7x | 0.9x | −0.1x |
| Current ratio | 1.8x | 1.5x | 1.3x | 1.1x | 1.3x |
| Interest coverage | 7.9x | −1.8x | −1.0x | 6.5x | 27.0x |
| Returns and quality | |||||
| Return on capital | 10.3% | −2.6% | −2.0% | 19.0% | 52.2% |
| Return on equity | 13.4% | −14.5% | −7.3% | 23.4% | 133.0% |
| Piotroski F-score | 7 | 1 | 4 | 6 | 7 |
| Altman Z'' | 3.7 | 2.4 | 2.2 | 2.2 | 7.0 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$75.3M
10 insiders
Of sales under plans
75%
$56.3M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Western Digital · WDC
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Western Digital WDC | $136.8B | 35.7% | 34.5% | 27.2% | 52.2% | 13.8x | 7 |
| Seagate Technology STX | $147.5B | 34.1% | 33.6% | 25.5% | 92.0% | — | 8 |
| Sandisk SNDK | $194.6B | 175.3% | 61.2% | 56.8% | 105.9% | — | 7 |
| NetApp NTAP | $44.4B | 5.4% | 24.2% | 27.0% | — | 31.3x | 7 |
| Hewlett Packard Enterprise HPE | $85.1B | 13.8% | −1.3% | 1.8% | −0.9% | 30.4x | 4 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $356.13 a share, the company is worth $136.8B: 13.8 times its earnings of the last four quarters.
Western Digital grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 0 of 2.
Source: SEC EDGAR XBRL filings (CIK 0000106040). Data updated October 23, 2026. For information only — not investment advice. Check the original filings before relying on any figure.