Western Digital (WDC) FY2023 results: revenue $6.3 billion, down 66.7% on the year
Western Digital Corp. (WDC) reported revenue of $6.3 billion for fiscal 2023, the year ended 30 June 2023, down 66.7% on the year before. Net income was -$1.7 billion, and diluted earnings per share $-5.37. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2023.
Revenue
$6.3 billion
-66.7% on the year
FY2016FY2023
Operating margin
-8.8%
12.7% a year earlier
FY2016FY2023
Net income
-$1.7 billion
FY2016FY2023
Diluted EPS
-$5.37
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
-408
1,880
1,898
Capital expenditure
821
1,122
1,146
-26.8%
Free cash flow
-1,229
758
752
Free cash flow margin
-19.6%
4.0%
4.4%
Cash from investing
-762
-1,192
-765
Cash from financing
875
-1,718
-817
Depreciation and amortisation
828
929
1,212
-10.9%
Share-based compensation
318
326
318
-2.5%
Buybacks
0.0
n/a
0.0
Dividends paid
0.0
0.0
0.0
Dividend per share
n/a
$0.00
$0.00
Diluted shares, weighted
318m
316m
309m
+0.6%
Shares outstanding at period end
322m
315m
308m
+2.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
10,964
12,323
10,800
-11.0%
Redeemable equity
876
0.0
0.0
Debt
7,070
7,022
8,725
+0.7%
Operating lease liabilities
244
277
204
-11.9%
Other liabilities
5,392
6,637
6,403
-18.8%
Total liabilities and equity
24,546
26,259
26,132
-6.5%
Fixed assets
3,620
3,670
3,188
-1.4%
Goodwill
10,037
10,041
10,066
-0.0%
Intangible assets
80.0
213
442
-62.4%
Cash and equivalents
2,023
2,327
3,370
-13.1%
Receivables
1,598
2,804
2,257
-43.0%
Inventory
3,698
3,638
3,616
+1.6%
Other assets
3,490
3,566
3,193
-2.1%
Total assets
24,546
26,259
26,132
-6.5%
10-K for the year ended 30 June 2023, filed 22 August 2023: the filing.