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Stocks / United States / WDC · Computer Storage Devices · Nasdaq

Western Digital Corp. (WDC)

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Western Digital Corp. (WDC) reported revenue of $3.7 billion for Q4 FY2026, the quarter ended 3 July 2026, up 43.8% on the same quarter a year earlier. Net income was $3.2 billion, up 1033.0% on the year, and diluted earnings per share $8.28. The figures are the company's own, from the 10-K it filed with the SEC on 14 August 2026.

Revenue$3.7 billionup 43.8%
Net income$3.2 billionup 1033.0%
Diluted EPS$8.28
QuarterQ4 FY2026ended 3 July 2026

Ratios

From the filings

ROE106.3%
ROCE44.9%
Operating margin34.5%
Net margin72.9%
FCF margin27.2%
Interest cover26.99
Debt to equity0.12
Cash conversion0.42
Share count, 1 year4.0%
Sales CAGR, 3 years27.4%
Profit CAGR, 3 yearsn/a
EPS, TTM$24.28

At the close of 21 September 2026

Price$448.17
Market cap$161.8 billion
Stock P/E18.46
Price to book18.25
EV / EBITDA33.40
Dividend yield0.1%
Market cap / sales12.52
52-week high$746.23
52-week low$106.88
Price, 1 year320.3%
Price CAGR, 3 years114.9%
Price CAGR, 5 years51.3%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Western Digital Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on WDC

Filings25 in twelve months: 16 current reports (8-K), about 6 other events; 4 unregistered sale of equity; 4 results of operations; 3 officer or director change; 2 regulation fd disclosure
Planned insider sales45 Form 144 notices in twelve months, $77.8 million; latest 4 September 2026
Options tapeput/call 1.16 by open interest on 23 September 2026; the straddle prices a 5.9% move to 25 September 2026
Holders12 of the followed funds hold it; largest FMR LLC; 9 Schedule 13D or 13G filings in twelve months
Insider trading98 sales and 0 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest19.9 million shares short, 3.14 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *
Revenue2,7503,0323,4572,0044,0954,2852,2942,6052,8183,0173,3373,747
Cost of revenue2,6512,5402,4562,4112,5442,7691,382-8671,5911,6371,6611,719
Gross profit99.04921,0016971,5511,5169121,0671,2271,3801,6762,028
Gross margin4%16%29%35%38%35%40%41%44%46%50%54%
R&D431444494538519502245-272294289294284
SG&A207198203220242238108-20.0138128147138
Operating income-596-210273216742852760-20.07929081,1901,563
Operating margin-22%-7%8%11%18%20%33%-1%28%30%36%42%
Interest expense98.010810810399.095.091.072.059.054.038.014.0
Pre-tax income-682-25917810262874174.0-3131,3371,9623,3593,247
Tax raten/an/a24%62%21%20%-943%n/a12%6%5%2%
Net income-685-28713539.04935945202821,1821,8423,2053,195
Net margin-25%-9%4%2%12%14%23%11%42%61%96%85%
Diluted EPS-$2.17-$0.93$0.34$0.08$1.35$1.63$1.42$0.75$3.07$4.73$8.20$8.28
Operating cash flow-626-92.058.036634.04035087466727451,1231,389
Capital expenditure12415097.011696.011612971.073.092.0145108
Free cash flow-750-242-39.0250-62.02873796755996539781,281
Buybacksn/an/an/an/a0.00.00.0149553615752672
Dividends paidn/an/an/an/a0.00.00.044.034.043.043.054.0
Shares outstanding324m326m326m343m346m348m349m347m342m340m345m361m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 10 fiscal years and the trailing twelve months

FY2017FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024 FY2025FY2026TTM
Revenue19,09320,64716,56916,73616,92218,7936,2556,3179,52012,91912,919
Cost of revenue13,02112,94212,81712,95512,40112,9194,8644,5445,8286,6086,608
Gross profit6,0727,7053,7523,7814,5215,8741,3911,7733,6926,3116,311
Gross margin31.8%37.3%22.6%22.6%26.7%31.3%22.2%28.1%38.8%48.9%48.9%
Research and development2,4412,4002,1822,2612,2432,3239869509941,1611,161
Selling, general and administrative1,4451,4731,3171,1531,1051,117807726568551551
Operating income1,9543,61787.03351,2202,391-548-4032,3344,4534,453
Operating margin10.2%17.5%0.5%2.0%7.2%12.7%-8.8%-6.4%24.5%34.5%34.5%
Interest expense847676469413326304312414357165165
Pre-tax income7692,085-287-46.09272,171-849-7391,1309,9059,905
Income tax3721,41046720410662553.026.0-513481481
Effective tax rate48.4%67.6%n/an/a11.4%28.8%n/an/a-45.4%4.9%4.9%
Net income397675-754-2508211,546-1,684-7981,8899,4249,424
Net margin2.1%3.3%-4.6%-1.5%4.9%8.2%-26.9%-12.6%19.8%72.9%72.9%
Diluted EPS$1.34$2.20-$2.58-$0.84$2.66$4.75-$5.44-$2.61$5.12$24.28$24.28
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2017FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024 FY2025FY2026TTM
Operating cash flow3,4374,2051,5478241,8981,880-408-2941,6913,9293,929
Capital expenditure5788358766471,1461,122821487412418418
Free cash flow2,8593,370671177752758-1,229-7811,2793,5113,511
Free cash flow margin15.0%16.3%4.0%1.1%4.4%4.0%-19.6%-12.4%13.4%27.2%27.2%
Depreciation and amortisation2,1282,0561,8121,5661,212929828568451375375
Share-based compensation394377306308318326318295265204204
Buybacks0.05915630.00.0n/a0.00.01492,5922,592
Dividends paid5745931475950.00.00.00.044.0174174
Dividend per share$2.00$2.00$2.00$1.50$0.00$0.00n/an/a$0.10$0.50n/a
Diluted shares, weighted296m307m292m298m309m316m318m326m359m383m383m
Shares outstanding at period end294m296m295m302m308m315m322m343m347m361m361m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2017FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024 FY2025FY2026TTM
Total assets29,86029,23526,37025,66226,13226,25924,54624,18814,00213,86113,861
Cash and equivalents6,3545,0053,4553,0483,3702,3272,0231,5512,1141,5791,579
Receivables1,9482,1971,2042,3792,2572,8041,5981,2311,4862,0262,026
Inventory2,3412,9443,2833,0703,6163,6383,6981,3871,2911,5111,511
Goodwill10,01410,07510,07610,06710,06610,04110,0374,3194,3194,3214,321
Total debt, as filed13,356n/an/an/an/an/an/an/an/an/an/a
Long-term debt13,15111,17210,5229,5758,7257,0227,0707,4344,7111,0521,052
Borrowings, as the company tags themn/a11,37510,6949,7118,8257,1007,1007,4884,7491,0601,060
Operating lease liabilitiesn/an/an/a209204277244133110107107
Shareholders' equity11,41811,5319,9679,55110,80012,32310,96410,8185,3118,8648,864
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a-5.3%27.4%-2.7%
Profit growth, compoundedn/a62.9%n/a398.9%
Return on equity, average13.8%26.3%44.8%106.3%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Computer Storage Devices

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Sandisk Corp. SNDK$257.9 billion23.9572.7%61.2%175.3%0.00n/a
Seagate Technology Holdings plc STX$199.0 billion63.12146.9%33.6%34.1%1.660.3%
Western Digital Corp. WDC$161.8 billion18.46106.3%34.5%-2.7%0.120.1%
NetApp, Inc. NTAP$38.8 billion27.9994.8%n/an/a1.661.0%
Everpure, Inc. P$37.9 billion155.7016.4%5.3%27.2%0.00n/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-K3 July 202614 August 2026EDGAR
10-Q3 April 20261 May 2026EDGAR
10-Q2 January 202630 January 2026EDGAR
10-Q3 October 202531 October 2025EDGAR
10-K27 June 202514 August 2025EDGAR
10-Q28 March 20252 May 2025EDGAR
10-Q27 December 202431 January 2025EDGAR
10-Q27 September 202431 October 2024EDGAR
10-K28 June 202420 August 2024EDGAR
10-Q29 March 202430 April 2024EDGAR

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