A Business at a Glance
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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 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 video surveillance to client and consumer devices. On February 21, 2025 (the “Separation Date”), we completed the separation of our HDD and Flash business units (the “Separation”) to create two independent public companies, with Western Digital focusing on our existing HDD business and Sandisk Corporation (“Sandisk”), formerly a wholly-owned subsidiary of the Company, holding the Flash business.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 7.0B | 9.5B | 13.0B | 12.3B | 18.8B | 16.9B |
| Net Income | 3.9B | 1.9B | -798M | -1.7B | 1.5B | 821M |
| EPS | $10.69 | $5.12 | $-1.97 | $-4.06 | $3.59 | $2.01 |
| Free Cash Flow | 2.3B | 1.3B | -781M | -1.2B | 758M | 752M |
| ROIC | 28.1% | 18.7% | -4.8% | -10.2% | 11.6% | 8.3% |
| Gross Margin | 46.3% | 38.8% | 13.6% | 15.3% | 31.3% | 26.7% |
| Debt/Equity | 0.97 | 1.31 | 0.85 | 0.76 | 0.57 | 0.84 |
| Dividends/Share | $0.00 | $0.10 | $0.00 | - | $0.00 | $0.00 |
| Operating Income | 2.4B | 2.3B | -403M | -1.3B | 2.4B | 1.2B |
| Operating Margin | 35.0% | 24.5% | -3.1% | -10.4% | 12.7% | 7.2% |
| ROE | 54.2% | 23.4% | -7.4% | -15.6% | 12.3% | 7.7% |
| Shares Outstanding | 339M | 369M | 405M | 421M | 418M | 408M |
WESTERN DIGITAL CORP passes 4 of 9 quality checks, suggesting mixed fundamentals.
WESTERN DIGITAL CORP trades at 32.8x trailing earnings, compared to its 15-year median P/E of 26.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 51.5x vs a median of 20.0x. The company's 5-year average ROIC is 4.7% with a gross margin of 25.1%. Total shareholder yield (buybacks) is 0.2%. At current prices, the estimated annualized return to fair value is +6.4%.
WESTERN DIGITAL CORP (WDC) has a current P/E ratio of 32.8, compared to its historical median P/E of 26.8. The stock is currently considered Fair based on its historical valuation range.
WESTERN DIGITAL CORP (WDC) has a 5-year average return on invested capital (ROIC) of 4.7%. This is below average and may indicate limited pricing power.
WESTERN DIGITAL CORP (WDC) has a market capitalization of $118.7B. It is classified as a large-cap stock.
Yes, WESTERN DIGITAL CORP (WDC) pays a dividend with a trailing twelve-month yield of 0.03%. The company also returns capital through share buybacks, with a buyback yield of 0.13%.
Based on historical P/E analysis, WESTERN DIGITAL CORP (WDC) appears fair. The current P/E of 32.8 is 22% above its historical median of 26.8. The estimated fair value CAGR (P/E method) is 41.4%.
WESTERN DIGITAL CORP (WDC) operates in the Computer Storage Devices industry, within the Technology sector.
WESTERN DIGITAL CORP (WDC) reported annual revenue of $9.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
WESTERN DIGITAL CORP (WDC) has a net profit margin of 19.8%. This is a healthy margin.
WESTERN DIGITAL CORP (WDC) generated $1.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
WESTERN DIGITAL CORP (WDC) has a debt-to-equity ratio of 1.31. This indicates moderate leverage.
WESTERN DIGITAL CORP (WDC) reported earnings per share (EPS) of $5.12 in its most recent fiscal year.
WESTERN DIGITAL CORP (WDC) has a return on equity (ROE) of 23.4%. This indicates the company generates strong returns for shareholders.
WESTERN DIGITAL CORP (WDC) has a 5-year average gross margin of 25.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for WESTERN DIGITAL CORP (WDC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WESTERN DIGITAL CORP (WDC) has a book value per share of $14.40, based on its most recent annual SEC filing.