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Western Digital Corporation

Western Digital Corporation

NASDAQ•WDC
CEO: Mr. Tiang Yew Tan
Sector: Technology
Industry: Computer Hardware
Listing Date: 1978-10-31
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications. The company also provides enterprise HDDs; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, online transactions, artificial intelligence-related workloads, data analysis, and other enterprise applications; and data storage platforms. In addition, it offers external HDD storage products in mobile and desktop form; client portable SSDs; removable cards that are used in consumer devices comprising mobile phones, tablets, imaging systems, and cameras and smart video systems; universal serial bus flash drives for use in the computing and consumer markets; and wireless drive products used in-field backup of created content, as well as wireless streaming of high-definition movies, photos, music, documents to tablets, smartphones, and PCs. The company sells its products under the Western Digital, SanDisk, and WD brands to original equipment manufacturers, distributors, dealers, resellers, and retailers. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.
Contact Information
5601 Great Oaks Parkway, San Jose, CA, 95119, United States
408-801-1000
www.westerndigital.com
Market Cap
$81.03B
P/E (TTM)
31.9
32.2
Dividend Yield
0.1%
52W High
$247.94
52W Low
$28.83
52W Range
95%
Rank52Top 73.5%
2.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$2.82B-31.18%
4-Quarter Trend

EPS

$3.34+138.57%
4-Quarter Trend

FCF

$599.00M-1066.13%
4-Quarter Trend

2026 Q1 Earnings Highlights

Key Highlights

Revenue Growth Strong Revenue $2.82B, up 27% from $2.21B, driven by 19% ASP increase and higher enterprise shipments.
Profitability Driven by Gain Net income from continuing operations $1.18B, a 673% increase, significantly boosted by $611M Sandisk gain.
Margin Expansion Achieved Gross margin expanded 7 points year-over-year to 43.5% due to higher volumes and cost reductions.
Cash Flow Improves Substantially Net cash provided by operating activities reached $672M, a major improvement over $34M last period.

Risk Factors

Customer Revenue Concentration Top 10 customers accounted for 77% of net revenue this period, increasing concentration risk versus prior year.
Unrecognized Tax Liability Unrecognized tax benefits liability totals $598M; approximately $130 million could require cash payments within twelve months.
Litigation Outcome Uncertainty SPEX intellectual property litigation loss is not accrued; management believes loss is not probable pending appeal.
Debt Reclassification Risk 2028 Convertible Notes reclassified to current liabilities after conditional conversion feature was triggered this quarter.

Outlook

Capital Spending Forecast Expect capital expenditures for fiscal 2026 to be approximately 4% to 6% of expected net revenue for the year.
Liquidity Position Adequate Cash and revolving credit facility sufficient to meet working capital, debt, and capital expenditure needs for twelve months.
Sandisk Stake Monetization Expect to monetize remaining retained Sandisk common stock ownership stake within one year from the Separation date.
Share Repurchase Capacity Company has $1.30B remaining capacity under the $2.0B share repurchase program authorized in May 2025.

Peer Comparison

Revenue (TTM)

HP Inc.HPQ
$55.30B
+3.2%
Hewlett Packard Enterprise CompanyHPE
$34.30B
+14.1%
Super Micro Computer, Inc.SMCI
$21.05B
+11.9%

Gross Margin (Latest Quarter)

Fair Isaac CorporationFICO
82.3%
+2.1pp
Atlassian CorporationTEAM
82.0%
+0.3pp
Pure Storage, Inc.PSTG
72.3%
+2.2pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WDC$81.03B31.935.9%35.1%
STX$73.91B43.0-282.7%59.2%
MPWR$50.96B26.956.6%0.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-13.0%
Growth Under Pressure
4Q Net Income CAGR
25.8%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 29, 2026
|
EPS:$1.93
|
Revenue:$2.94B
Reports
All Years
  • Form 10-Q - Q1 2026

    Period End: Oct 3, 2025|Filed: Oct 31, 2025|
    Revenue: $2.82B-31.2%
    |
    EPS: $3.34+138.6%
    Beat
  • Form 10-K - FY 2025

    Period End: Jun 27, 2025|Filed: Aug 14, 2025|
    Revenue: $9.52B+50.7%
    |
    EPS: $5.31+303.4%
    Beat
  • Form 10-Q - Q3 2025

    Period End: Mar 28, 2025|Filed: May 2, 2025|
    Revenue: $2.29B+30.9%
    |
    EPS: $1.46+317.1%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Dec 27, 2024|Filed: Jan 31, 2025|
    Revenue: $4.29B+41.3%
    |
    EPS: $1.68-293.1%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Sep 27, 2024|Filed: Oct 31, 2024|
    Revenue: $4.10B+48.9%
    |
    EPS: $1.40-164.5%
    Beat
  • Form 10-K - FY 2024

    Period End: Jun 28, 2024|Filed: Aug 20, 2024|
    Revenue: $6.32B+1.0%
    |
    EPS: $-2.61+51.4%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Mar 29, 2024|Filed: Apr 30, 2024|
    Revenue: $1.75B-37.5%
    |
    EPS: $0.35-119.2%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Dec 29, 2023|Filed: Feb 12, 2024|
    Revenue: $3.03B-2.4%
    |
    EPS: $-0.87-37.9%
    Beat