Western Digital (WDC) FY2025 results: revenue $9.5 billion, up 50.7% on the year
Western Digital Corp. (WDC) reported revenue of $9.5 billion for fiscal 2025, the year ended 27 June 2025, up 50.7% on the year before. Net income was $1.9 billion, and diluted earnings per share $5.12. The figures are the company's own, from the 10-K it filed with the SEC on 14 August 2025.
Revenue
$9.5 billion
+50.7% on the year
FY2018FY2025
Operating margin
24.5%
-6.4% a year earlier
FY2018FY2025
Net income
$1.9 billion
FY2018FY2025
Diluted EPS
$5.12
FY2018FY2025
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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
1,691
-294
-408
Capital expenditure
412
487
821
-15.4%
Free cash flow
1,279
-781
-1,229
Free cash flow margin
13.4%
-12.4%
-19.6%
Cash from investing
150
-27.0
-762
Cash from financing
-1,612
187
875
Depreciation and amortisation
451
568
828
-20.6%
Share-based compensation
265
295
318
-10.2%
Buybacks
149
0.0
0.0
Dividends paid
44.0
0.0
0.0
Dividend per share
$0.10
n/a
n/a
Diluted shares, weighted
359m
326m
318m
+10.1%
Shares outstanding at period end
347m
343m
322m
+1.2%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
5,311
10,818
10,964
-50.9%
Redeemable equity
229
229
876
0.0%
Debt
4,711
7,434
7,070
-36.6%
Operating lease liabilities
110
133
244
-17.3%
Other liabilities
3,641
5,574
5,392
-34.7%
Total liabilities and equity
14,002
24,188
24,546
-42.1%
Fixed assets
2,343
2,359
3,620
-0.7%
Goodwill
4,319
4,319
10,037
0.0%
Intangible assets
n/a
78.0
80.0
Cash and equivalents
2,114
1,551
2,023
+36.3%
Receivables
1,486
1,231
1,598
+20.7%
Inventory
1,291
1,387
3,698
-6.9%
Other assets
2,449
13,263
3,490
-81.5%
Total assets
14,002
24,188
24,546
-42.1%
10-K for the year ended 27 June 2025, filed 14 August 2025: the filing.