NASDAQ : WDC
Western Digital Corporation — Financial statements
Technology · Computer Hardware · United States
Last price 395.41 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 148.01B
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Financial statements
Western Digital Corporation (WDC) reported revenue of 14.48B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 14.48B | 12.92B | 9.52B | 6.32B | 6.25B | 18.79B |
| Cost of Revenue | 6.86B | 6.61B | 5.83B | 4.54B | 4.86B | 12.72B |
| Gross Profit | 7.62B | 6.31B | 3.69B | 1.77B | 1.39B | 6.07B |
| Selling, General & Admin | 547.00M | 523.00M | 561.00M | 710.00M | 784.00M | 1.09B |
| Research & Development | 1.15B | 1.16B | 994.00M | 950.00M | 986.00M | 2.32B |
| Operating Expenses | 1.70B | 1.68B | 1.55B | 1.66B | 1.77B | 3.41B |
| Operating Income | 5.92B | 4.63B | 2.14B | 113.00M | -379.00M | 2.66B |
| Interest Expense | -117.00M | -165.00M | -357.00M | -414.00M | -310.00M | -304.00M |
| Interest & Investment Income | 41.00M | 51.00M | 45.00M | 33.00M | 19.00M | 6.00M |
| Other Non Operating Income (Expenses) | -940.00M | -960.00M | -127.00M | 29.00M | -33.00M | 52.00M |
| EBT Excluding Unusual Items | 4.91B | 3.55B | 1.70B | -239.00M | -703.00M | 2.41B |
| Merger & Restructuring Charges | -186.00M | -146.00M | 6.00M | -209.00M | -146.00M | -43.00M |
| Gain (Loss) on Sale of Investments | 5.89B | 6.50B | -772.00M | |||
| Legal Settlements | 198.00M | -291.00M | ||||
| Other Unusual Items | -200.00M | |||||
| Pretax Income | 10.61B | 9.90B | 1.13B | -739.00M | -849.00M | 2.17B |
| Income Tax Expense | 585.00M | 481.00M | -513.00M | 26.00M | 53.00M | 625.00M |
| Earnings From Continuing Operations | 10.02B | 9.42B | 1.64B | -765.00M | -902.00M | 1.55B |
| Earnings From Discontinued Operations | 246.00M | -33.00M | -782.00M | |||
| Net Income | 10.02B | 9.42B | 1.89B | -798.00M | -1.68B | 1.55B |
| Preferred Dividends & Other Adjustments | 108.00M | 138.00M | 45.00M | 54.00M | 24.00M | |
| Net Income to Common | 9.91B | 9.29B | 1.84B | -852.00M | -1.71B | 1.55B |
| Shares Outstanding (Basic) | 350.25M | 345.00M | 347.00M | 326.00M | 318.00M | 312.00M |
| Shares Outstanding (Diluted) | 385.00M | 383.00M | 359.00M | 326.00M | 318.00M | 316.00M |
| EPS (Basic) | 28.30 | 26.92 | 5.31 | -2.61 | -5.37 | 4.96 |
| EPS (Diluted) | 25.77 | 24.28 | 5.14 | -2.61 | -5.37 | 4.89 |
| Free Cash Flow | 4.29B | 3.51B | 1.28B | -781.00M | -1.23B | 758.00M |
| Free Cash Flow Per Share | 11.14 | 9.17 | 3.56 | -2.40 | -3.87 | 2.40 |
| Dividend Per Share | 0.55 | 0.50 | 0.10 | |||
| Gross Margin | 52.60% | 48.85% | 38.78% | 28.07% | 22.24% | 32.32% |
| Operating Margin | 40.88% | 35.82% | 22.45% | 1.79% | -6.06% | 14.15% |
| Profit Margin | 68.45% | 71.88% | 19.37% | -13.49% | -27.31% | 8.23% |
| Free Cash Flow Margin | 29.62% | 27.18% | 13.44% | -12.36% | -19.65% | 4.03% |
| EBITDA | 6.31B | 5.00B | 2.47B | 460.00M | 10.00M | 3.59B |
| EBITDA Margin | 43.59% | 38.72% | 25.98% | 7.28% | 0.16% | 19.10% |
| D&A For EBITDA | 391.00M | 375.00M | 336.00M | 347.00M | 389.00M | 929.00M |
| EBIT | 5.92B | 4.63B | 2.14B | 113.00M | -379.00M | 2.66B |
| EBIT Margin | 40.88% | 35.82% | 22.45% | 1.79% | -6.06% | 14.15% |
| Effective Tax Rate | 5.52% | 4.86% | 28.79% | |||
| Advertising Expenses | 25.00M | 32.00M | 51.00M | 66.00M | 88.00M |
Balance sheet
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.31B | 1.58B | 2.11B | 1.55B | 2.02B | 2.33B |
| Short-Term Investments | 354.00M | |||||
| Trading Asset Securities | 3.00M | |||||
| Cash & Short-Term Investments | 1.31B | 1.58B | 2.47B | 1.55B | 2.02B | 2.33B |
| Receivables | 2.23B | 2.03B | 1.49B | 1.23B | 1.60B | 2.80B |
| Inventory | 1.78B | 1.51B | 1.29B | 1.39B | 3.70B | 3.64B |
| Other Current Assets | 541.00M | 518.00M | 611.00M | 3.89B | 567.00M | 681.00M |
| Total Current Assets | 5.87B | 5.63B | 5.86B | 8.06B | 7.89B | 9.45B |
| Property, Plant & Equipment | 2.71B | 2.60B | 2.47B | 2.50B | 3.88B | 3.67B |
| Long-Term Investments | 616.00M | 521.00M | ||||
| Goodwill | 4.32B | 4.32B | 4.32B | 4.32B | 10.04B | 10.04B |
| Other Intangible Assets | 80.00M | 213.00M | ||||
| Long-Term Deferred Tax Assets | 905.00M | 872.00M | 1.01B | 225.00M | ||
| Other Long-Term Assets | 440.00M | 436.00M | 354.00M | 9.08B | 1.25B | 1.49B |
| Total Assets | 14.24B | 13.86B | 14.00B | 24.19B | 24.55B | 26.26B |
| Accounts Payable | 1.85B | 1.77B | 1.27B | 1.05B | 1.58B | 2.22B |
| Accrued Expenses | 1.03B | 1.13B | 1.02B | 1.41B | 1.31B | 1.67B |
| Current Portion of Long-Term Debt | 789.00M | 1.05B | 2.23B | 1.75B | 1.21B | |
| Current Portion of Leases | 31.00M | 32.00M | 31.00M | 28.00M | 40.00M | |
| Current Income Taxes Payable | 304.00M | 173.00M | 800.00M | 471.00M | 999.00M | 869.00M |
| Other Current Liabilities | 84.00M | 77.00M | 70.00M | 1.38B | 289.00M | 478.00M |
| Total Current Liabilities | 4.09B | 4.24B | 5.42B | 6.09B | 5.43B | 5.24B |
| Long-Term Debt | 2.48B | 5.68B | 5.86B | 7.02B | ||
| Long-Term Leases | 102.00M | 107.00M | 110.00M | 133.00M | 244.00M | |
| Other Long-Term Liabilities | 697.00M | 650.00M | 449.00M | 1.24B | 1.17B | 1.78B |
| Total Liabilities | 4.89B | 5.00B | 8.46B | 13.14B | 12.71B | 14.04B |
| Common Stock | 4.00M | 4.00M | 3.00M | 3.00M | 3.00M | 3.00M |
| Additional Paid-In Capital | 66.00M | 961.00M | 4.62B | 4.75B | 3.94B | 3.73B |
| Retained Earnings | 9.27B | 10.00B | 762.00M | 6.78B | 7.57B | 9.04B |
| Treasury Stock | -15.00M | -2.12B | -95.00M | |||
| Comprehensive Income & Other | 24.00M | 23.00M | 20.00M | -712.00M | -548.00M | -554.00M |
| Total Common Equity | 9.35B | 8.86B | 5.31B | 10.82B | 10.96B | 12.22B |
| Shareholders' Equity | 9.35B | 8.86B | 5.54B | 11.05B | 11.84B | 12.22B |
| Total Liabilities & Equity | 14.24B | 13.86B | 14.00B | 24.19B | 24.55B | 26.26B |
| Total Debt | 922.00M | 1.19B | 4.85B | 7.59B | 7.35B | 7.02B |
| Net Cash (Debt) | 392.00M | 388.00M | -2.38B | -6.04B | -5.33B | -4.69B |
| Net Cash Per Share | 1.02 | 1.01 | -6.64 | -18.54 | -16.76 | -14.85 |
| Filing Date Shares Outstanding | 374.32M | 360.54M | 346.92M | 343.45M | 321.90M | 314.49M |
| Total Common Shares Outstanding | 374.00M | 361.00M | 345.00M | 343.00M | 322.00M | 315.00M |
| Working Capital | 1.78B | 1.39B | 438.00M | 1.97B | 2.45B | 4.22B |
| Book Value Per Share | 24.99 | 24.55 | 15.39 | 31.54 | 34.05 | 38.80 |
| Tangible Book Value | 5.03B | 4.54B | 992.00M | 6.50B | 847.00M | 1.97B |
| Tangible Book Value Per Share | 13.44 | 12.58 | 2.88 | 18.95 | 2.63 | 6.24 |
| Land | 225.00M | 225.00M | 225.00M | 225.00M | 269.00M | 269.00M |
| Buildings | 1.62B | 1.61B | 1.55B | 1.42B | 1.96B | 1.92B |
| Machinery | 7.30B | 7.16B | 6.78B | 6.65B | 9.23B | 9.19B |
| Construction In Progress | 486.00M | 457.00M | 532.00M | 685.00M | 798.00M | 591.00M |
Cash flow statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 10.02B | 9.42B | 1.89B | -798.00M | -1.68B | 1.55B |
| Depreciation & Amortization | 391.00M | 375.00M | 336.00M | 347.00M | 389.00M | 929.00M |
| Other Amortization | 13.00M | 44.00M | ||||
| Loss (Gain) From Sale of Assets | -2.00M | -87.00M | -7.00M | -25.00M | ||
| Asset Writedown & Restructuring Costs | 35.00M | 35.00M | 2.00M | 158.00M | 19.00M | |
| Loss (Gain) From Sale of Investments | -5.89B | -6.50B | 772.00M | |||
| Stock-Based Compensation | 230.00M | 204.00M | 265.00M | 295.00M | 318.00M | 326.00M |
| Other Operating Activities | 961.00M | 1.05B | -542.00M | -123.00M | 13.00M | 135.00M |
| Change in Accounts Receivable | -878.00M | -541.00M | 79.00M | -568.00M | 1.21B | -546.00M |
| Change in Inventory | -386.00M | -218.00M | -409.00M | 356.00M | -60.00M | -22.00M |
| Change in Accounts Payable | 189.00M | 385.00M | 268.00M | 265.00M | -487.00M | -207.00M |
| Change in Income Taxes | 7.00M | -627.00M | 348.00M | -474.00M | 130.00M | -74.00M |
| Change in Other Net Operating Assets | 178.00M | 343.00M | -1.32B | 114.00M | -697.00M | -226.00M |
| Operating Cash Flow | 4.86B | 3.93B | 1.69B | -294.00M | -408.00M | 1.88B |
| Capital Expenditures | -572.00M | -418.00M | -412.00M | -487.00M | -821.00M | -1.12B |
| Sale of Property, Plant & Equipment | 5.00M | 195.00M | 14.00M | 15.00M | ||
| Divestitures | 401.00M | 32.00M | ||||
| Investment in Securities | -25.00M | -11.00M | 183.00M | 26.00M | 31.00M | -26.00M |
| Other Investing Activities | -27.00M | 239.00M | 14.00M | -91.00M | ||
| Investing Cash Flow | -597.00M | -429.00M | 150.00M | -27.00M | -762.00M | -1.19B |
| Long-Term Debt Issued | 1.95B | 2.15B | 3.00B | 1.18B | 1.89B | |
| Long-Term Debt Repaid | -2.88B | -2.09B | -2.61B | -1.18B | -3.62B | |
| Net Debt Issued (Repaid) | -1.18B | -938.00M | 56.00M | 391.00M | -1.73B | |
| Issuance of Common Stock | 64.00M | 64.00M | 77.00M | 80.00M | 93.00M | 122.00M |
| Repurchase of Common Stock | -3.68B | -2.97B | -262.00M | -88.00M | -80.00M | -90.00M |
| Preferred Dividends Paid | -5.00M | -10.00M | -8.00M | |||
| Common Dividends Paid | -196.00M | -174.00M | -36.00M | |||
| Dividends Paid | -201.00M | -184.00M | -44.00M | |||
| Other Financing Activities | -6.00M | -6.00M | -1.44B | -191.00M | -19.00M | -23.00M |
| Financing Cash Flow | -5.00B | -4.03B | -1.61B | 187.00M | 875.00M | -1.72B |
| Foreign Exchange Rate Adjustments | -3.00M | 6.00M | -10.00M | -9.00M | -13.00M | |
| Net Cash Flow | -734.00M | -535.00M | 235.00M | -144.00M | -304.00M | -1.04B |
| Free Cash Flow | 4.29B | 3.51B | 1.28B | -781.00M | -1.23B | 758.00M |
| Free Cash Flow Margin | 29.62% | 27.18% | 13.44% | -12.36% | -19.65% | 4.03% |
| Free Cash Flow Per Share | 11.14 | 9.17 | 3.56 | -2.40 | -3.87 | 2.40 |
| Levered Free Cash Flow | 2.73B | 2.27B | 3.18B | -644.12M | -433.62M | 1.61B |
| Unlevered Free Cash Flow | 2.80B | 2.37B | 3.40B | -385.38M | -252.88M | 1.76B |
| Cash Interest Paid | 125.00M | 169.00M | 367.00M | 396.00M | 294.00M | 245.00M |
| Cash Income Tax Paid | 324.00M | 734.00M | 789.00M | 920.00M | 177.00M | 423.00M |
| Change in Working Capital | -890.00M | -658.00M | -1.03B | -307.00M | 92.00M | -1.07B |
Ratios
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 126.74B | 185.78B | 22.08B | 24.74B | 12.14B | 13.60B |
| Enterprise Value | 126.35B | 184.27B | 24.90B | 31.92B | 18.16B | 18.60B |
| Last Close Price | 338.59 | 538.83 | 63.10 | 56.97 | 28.52 | 32.65 |
| PE Ratio | 13.14 | 20.01 | 11.97 | 8.79 | ||
| Forward PE | 11.72 | 34.08 | 11.37 | 10.52 | 255.67 | 5.07 |
| PS Ratio | 8.75 | 14.38 | 2.32 | 3.92 | 1.94 | 0.72 |
| PB Ratio | 13.55 | 20.96 | 3.99 | 2.24 | 1.02 | 1.11 |
| P/TBV Ratio | 25.21 | 40.89 | 22.26 | 3.81 | 14.33 | 6.91 |
| P/FCF Ratio | 29.55 | 52.91 | 17.26 | 17.94 | ||
| P/OCF Ratio | 26.07 | 47.28 | 13.06 | 7.23 | ||
| PEG Ratio | 0.15 | 0.46 | 170.45 | 170.45 | 170.45 | 0.35 |
| EV/Sales Ratio | 8.72 | 14.26 | 2.62 | 5.05 | 2.90 | 0.99 |
| EV/EBITDA Ratio | 20.02 | 36.84 | 10.07 | 69.39 | 1,815.62 | 5.18 |
| EV/EBIT Ratio | 21.34 | 39.83 | 11.65 | 282.48 | 6.99 | |
| EV/FCF Ratio | 29.46 | 52.48 | 19.47 | 24.54 | ||
| Debt / Equity Ratio | 0.10 | 0.13 | 0.88 | 0.69 | 0.62 | 0.57 |
| Debt / EBITDA Ratio | 0.15 | 0.24 | 1.94 | 15.16 | 124.64 | 1.96 |
| Debt / FCF Ratio | 0.21 | 0.34 | 3.79 | 9.26 | ||
| Net Debt / Equity Ratio | -0.04 | -0.04 | 0.43 | 0.55 | 0.45 | 0.38 |
| Net Debt / EBITDA Ratio | -0.06 | -0.08 | 0.96 | 13.14 | 533.10 | 1.31 |
| Net Debt / FCF Ratio | -0.09 | -0.11 | 1.86 | -7.74 | -4.34 | 6.19 |
| Asset Turnover | 1.01 | 0.93 | 0.50 | 0.26 | 0.25 | 0.72 |
| Inventory Turnover | 4.33 | 4.72 | 4.35 | 1.79 | 1.33 | 3.51 |
| Quick Ratio | 0.87 | 0.85 | 0.73 | 0.46 | 0.67 | 0.98 |
| Current Ratio | 1.43 | 1.33 | 1.08 | 1.32 | 1.45 | 1.80 |
| Return on Equity (ROE) | 129.60% | 130.85% | 19.81% | -6.69% | -7.50% | 13.48% |
| Return on Assets (ROA) | 25.88% | 20.76% | 7.00% | 0.29% | -0.93% | 6.35% |
| Return on Invested Capital (ROIC) | 64.19% | 53.69% | 17.09% | 0.66% | -2.22% | 11.46% |
| Return on Capital Employed (ROCE) | 58.40% | 48.10% | 24.90% | 0.60% | -2.00% | 12.70% |
| Earnings Yield | 7.61% | 5.07% | 8.55% | -3.23% | -13.88% | 11.37% |
| FCF Yield | 3.38% | 1.89% | 5.79% | -3.16% | -10.13% | 5.57% |
| Dividend Yield | 0.21% | 0.10% | 0.16% | |||
| Payout Ratio | 2.33% | 1.95% | 2.33% | |||
| Buyback Yield / Dilution | -5.84% | -6.69% | -10.12% | -2.52% | -0.63% | -2.27% |
| Total Shareholder Return | -5.64% | -6.59% | -9.97% | -2.52% | -0.63% | -2.27% |