What is Western Digital Corp.'s earnings per share (EPS)?

Western Digital Corp. (WDC) reported diluted earnings per share of $24.28 for fiscal year 2026. This represents a 374.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Western Digital Corp. (WDC) Financials

WDC

FY2026 annual

Revenue $12.9B +35.7% YoY

Net Income $9.4B +398.9% YoY

EPS (Diluted) $24.28 +374.2% YoY

Free Cash Flow $3.5B +174.5% YoY

Market Cap $148.2B as of Oct 6, 2026

Price / Sales 11.5x on $12.9B revenue, FY2026

Price / Earnings 15.7x on $9.4B net income, FY2026

Price / Book 16.7x on $8.9B equity, Q4 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2026, ended Jul 3, 2026 Reported Aug 14, 2026 Currency USD FYE July

Newest figures come from the 10-K for FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WDC SEC filings page.

Western Digital Corp. (WDC) reported $12.9B in revenue for fiscal year 2026, up 35.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WDC FY2026 2026-10-04

By FY2026, operating recovery had become cash generation, while the company eliminated long-term debt.

The earnings headline is less clean than the cash result: FY2026 net income was $9.424B against operating income of $4.453B, showing that below-operating items materially shaped reported profit. By contrast, free cash flow of $3.511B represented 89.4% of operating cash flow, so the core cash result broadly tracked operations even though net income did not.

Gross margin climbed from 28.1% in FY2024 to 48.9% in FY2026, a substantial improvement in the economics of the reported business. Operating margin reached 34.5% in FY2026 after being negative in FY2024, indicating that the recovery included strong operating-cost absorption rather than revenue growth alone.

Long-term debt fell from $2.485B in FY2025 to $0 in FY2026, changing the balance sheet to debt-free at the reported year-end. The current ratio improved from 1.1x to 1.3x, suggesting short-term obligations were less tightly matched to current assets.

Financial Health Signals

Financial Health Score 75/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Western Digital Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Western Digital Corp. has an operating margin of 34.5%, meaning the company retains $34 of operating profit per $100 of revenue. This strong profitability earns a score of 74/100, reflecting efficient cost management and pricing power. This is up from 24.5% the prior year.

Growth

Western Digital Corp.'s revenue surged 35.7% year-over-year to $12.9B, reflecting rapid business expansion. This strong growth earns a score of 93/100.

Leverage

Western Digital Corp. carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Western Digital Corp.'s current ratio of 1.33 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Western Digital Corp. converts 27.2% of revenue into free cash flow ($3.5B). This strong cash generation earns a score of 78/100.

Returns

Western Digital Corp. earns a strong 106.3% return on equity (ROE), meaning it generates $106 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 78/100. This is up from 35.6% the prior year.

Altman Z-Score Safe

20.92

Western Digital Corp. scores 20.92, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($148.2B) relative to total liabilities ($5.0B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

7/9

Western Digital Corp. passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.42x

For every $1 of reported earnings, Western Digital Corp. generates $0.42 in operating cash flow ($3.9B OCF vs $9.4B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

26.99x

Western Digital Corp. earns $26.99 in operating income for every $1 of interest expense ($4.5B vs $165.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$3.7B

YoY+43.8%

QoQ+12.3%

Western Digital Corp. generated $3.7B in revenue in Q4 2026. This represents an increase of 43.8% from the same quarter a year earlier. Against the prior quarter it is up 12.3%.

Net Income

$3.2B

YoY+1033.0%

QoQ-0.3%

Western Digital Corp. reported $3.2B in net income in Q4 2026. This represents an increase of 1033.0% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.

EPS (Diluted)

$8.23

YoY+997.3%

QoQ+0.4%

5Y CAGR+32.6%

Western Digital Corp. earned $8.23 per diluted share (EPS) in Q4 2026. This represents an increase of 997.3% from the same quarter a year earlier. Against the prior quarter it is up 0.4%.

EBITDA

Not reported for Q4 2026.

Cash & Balance Sheet

Free Cash Flow

$1.3B

YoY+89.8%

QoQ+31.0%

Western Digital Corp. generated $1.3B in free cash flow in Q4 2026, representing cash available after capex. This represents an increase of 89.8% from the same quarter a year earlier. Against the prior quarter it is up 31.0%.

Cash & Debt

$1.6B

YoY-25.3%

QoQ-23.0%

5Y CAGR-14.1%

10Y CAGR-15.1%

Western Digital Corp. held $1.6B in cash against $0 in long-term debt as of Q4 2026, with $4.2B of liabilities due within a year.

Dividends Per Share

$0.15

QoQ+20.0%

Western Digital Corp. paid $0.15 per share in dividends in Q4 2026. Against the prior quarter it is up 20.0%.

Shares Outstanding

361M

YoY+3.9%

QoQ+4.6%

5Y CAGR+3.2%

10Y CAGR+2.4%

Western Digital Corp. had 361M shares outstanding in Q4 2026. This represents an increase of 3.9% from the same quarter a year earlier. Against the prior quarter it is up 4.6%.

Margins & Returns

Gross Margin

54.1%

YoY+13.2pp

QoQ+3.9pp

Western Digital Corp.'s gross margin was 54.1% in Q4 2026, indicating the percentage of revenue retained after direct costs. This is up 13.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.9 percentage points.

Operating Margin

41.7%

QoQ+6.1pp

Western Digital Corp.'s operating margin was 41.7% in Q4 2026, reflecting core business profitability. Against the prior quarter it is up 6.1 percentage points.

Net Margin

85.3%

YoY+74.4pp

QoQ-10.8pp

Western Digital Corp.'s net profit margin was 85.3% in Q4 2026, showing the share of revenue converted to profit. This is up 74.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.8 percentage points.

Return on Equity

36.0%

YoY+30.7pp

QoQ+2.9pp

Western Digital Corp.'s ROE was 36.0% in Q4 2026, measuring profit generated per dollar of shareholder equity. This is up 30.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.9 percentage points.

Capital Allocation

R&D Spending

$284.0M

QoQ-3.4%

Western Digital Corp. invested $284.0M in research and development in Q4 2026. Against the prior quarter it is down 3.4%.

Share Buybacks

$672.0M

YoY+351.0%

QoQ-10.6%

Western Digital Corp. spent $672.0M on share buybacks in Q4 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 351.0% from the same quarter a year earlier. Against the prior quarter it is down 10.6%.

Capital Expenditures

$108.0M

YoY+52.1%

QoQ-25.5%

Western Digital Corp. invested $108.0M in capex in Q4 2026, funding long-term assets and infrastructure. This represents an increase of 52.1% from the same quarter a year earlier. Against the prior quarter it is down 25.5%.

WDC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WDC quarterly income statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K	FY0910-K
Revenue	$12.9B+35.7%	$9.5B+50.7%	$6.3B	$18.8B+11.1%	$16.9B+1.1%	$16.7B+1.0%	$16.6B-19.8%	$20.6B	$13.0B-10.8%	$14.6B-3.7%	$15.1B-1.4%	$15.4B	$9.5B-3.3%	$9.8B+32.2%	$7.5B
Cost of Revenue	$6.6B+13.4%	$5.8B+28.3%	$4.5B	$12.9B+4.2%	$12.4B-4.3%	$13.0B+1.1%	$12.8B-1.0%	$12.9B	$9.6B-7.7%	$10.4B-3.9%	$10.8B-2.0%	$11.0B	$7.7B+3.8%	$7.4B+21.8%	$6.1B
Gross Profit	$6.3B+70.9%	$3.7B+108.2%	$1.8B	$5.9B+29.9%	$4.5B+19.6%	$3.8B+0.8%	$3.8B-51.3%	$7.7B	$3.4B-18.6%	$4.2B-3.2%	$4.4B-0.1%	$4.4B	$1.8B-25.4%	$2.4B+79.6%	$1.3B
R&D Expenses	$1.2B+16.8%	$994.0M+4.6%	$950.0M	$2.3B+3.6%	$2.2B-0.8%	$2.3B+3.6%	$2.2B-9.1%	$2.4B	$1.6B-1.2%	$1.6B-0.9%	$1.7B+5.7%	$1.6B	$703.0M+15.1%	$611.0M+20.0%	$509.0M
SG&A Expenses	$551.0M-3.0%	$568.0M-21.8%	$726.0M	$1.1B+1.1%	$1.1B-4.2%	$1.2B-12.5%	$1.3B-10.6%	$1.5B	$997.0M+26.5%	$788.0M-3.1%	$813.0M+15.2%	$706.0M	$282.0M+6.4%	$265.0M+31.8%	$201.0M
Operating Income	$4.5B+90.8%	$2.3B+679.2%	-$403.0M	$2.4B+96.0%	$1.2B+264.2%	$335.0M+285.1%	$87.0M-97.6%	$3.6B	$466.0M-71.1%	$1.6B-10.1%	$1.8B+41.5%	$1.3B	$781.0M-48.8%	$1.5B+193.8%	$519.0M
EBITDA	$4.8B+73.4%	$2.8B+1587.9%	$165.0M	$3.3B+36.5%	$2.4B+27.9%	$1.9B+0.1%	$1.9B-66.5%	$5.7B	$1.6B-40.6%	$2.7B-10.2%	$3.0B+21.4%	$2.5B	$1.4B-32.0%	$2.0B+103.9%	$998.0M
Interest Expense	$165.0M-53.8%	$357.0M+14.4%	$312.0M	$304.0M-6.7%	$326.0M-21.1%	$413.0M-11.9%	$469.0M-30.6%	$676.0M	$266.0M+442.9%	$49.0M-12.5%	$56.0M	N/A	N/A	N/A	N/A
Income Tax	$481.0M+193.8%	-$513.0M-2073.1%	$26.0M	$625.0M+489.6%	$106.0M-48.0%	$204.0M-56.3%	$467.0M-66.9%	$1.4B	-$89.0M-179.5%	$112.0M-17.0%	$135.0M-44.2%	$242.0M	$54.0M-60.9%	$138.0M+345.2%	$31.0M
Net Income	$9.4B+398.9%	$1.9B+336.7%	-$798.0M	$1.5B+88.3%	$821.0M+428.4%	-$250.0M+66.8%	-$754.0M-211.7%	$675.0M	$242.0M-83.5%	$1.5B-9.4%	$1.6B+65.0%	$980.0M	$726.0M-47.5%	$1.4B+194.0%	$470.0M
EPS (Basic)	$26.92+407.0%	$5.31+303.4%	-$2.61	$4.96+84.4%	$2.69+420.2%	-$0.84+67.4%	-$2.58-213.7%	$2.27	$1.01-84.0%	$6.31-8.3%	$6.88+69.0%	$4.07	$3.14-48.2%	$6.06+185.8%	$2.12
EPS (Diluted)	$24.28+374.2%	$5.12+296.2%	-$2.61	$4.89+83.8%	$2.66+416.7%	-$0.84+67.4%	-$2.58-217.3%	$2.20	$1.00-83.8%	$6.18-7.5%	$6.68+67.8%	$3.98	$3.09-47.9%	$5.93+185.1%	$2.08
Diluted Shares (Avg)	383M+6.7%	359M+10.1%	326M	316M+2.3%	309M+3.7%	298M+2.1%	292M-4.9%	307M	242M+2.1%	237M-2.1%	242M-1.6%	246M	235M+0.9%	233M+3.1%	226M

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Revenue	$3.7B+43.8%	$3.3B+45.5%	$3.0B+25.2%	$2.8B+27.4%	$2.6B+30.0%	$2.3B+30.9%	$2.4B+76.2%	$2.2B+85.3%
Cost of Revenue	$1.7B	$1.7B+20.2%	$1.6B+9.0%	$1.6B+13.2%	N/A	$1.4B+12.1%	$1.5B-40.9%	$1.4B-47.0%
Gross Profit	$2.0B+90.1%	$1.7B+83.8%	$1.4B+52.1%	$1.2B+52.2%	$1.1B+53.1%	$912.0M+75.7%	$907.0M+177.3%	$806.0M+155.3%
R&D Expenses	$284.0M	$294.0M+20.0%	$289.0M+28.4%	$294.0M+12.2%	N/A	$245.0M+0.8%	$225.0M-49.3%	$262.0M-39.2%
SG&A Expenses	$138.0M	$147.0M+36.1%	$128.0M-3.0%	$138.0M-32.4%	N/A	$108.0M-38.6%	$132.0M-33.3%	$204.0M-1.4%
Operating Income	$1.6B	$1.2B+56.6%	$908.0M+62.1%	$792.0M+137.1%	N/A	$760.0M+708.5%	$560.0M+366.7%	$334.0M+156.0%
EBITDA	N/A	N/A	$1.0B+47.1%	$880.0M+87.6%	N/A	N/A	$680.0M+1114.9%	$469.0M+204.5%
Interest Expense	$14.0M	$38.0M-58.2%	$54.0M-41.9%	$59.0M-40.4%	N/A	$91.0M-15.7%	$93.0M-13.9%	$99.0M+1.0%
Income Tax	$52.0M	$154.0M+122.1%	$120.0M	$155.0M+72.2%	N/A	-$698.0M-17350.0%	$0-100.0%	$90.0M+2900.0%
Net Income	$3.2B+1033.0%	$3.2B+516.3%	$1.8B+210.1%	$1.2B+139.8%	$282.0M+623.1%	$520.0M+285.2%	$594.0M+307.0%	$493.0M+172.0%
EPS (Basic)	$9.12+1069.2%	$9.26+534.2%	$5.27+213.7%	$3.34+138.6%	$0.78+875.0%	$1.46+317.1%	$1.68+282.6%	$1.40+164.5%
EPS (Diluted)	$8.23+997.3%	$8.20+477.5%	$4.73+190.2%	$3.07+127.4%	$0.75+837.5%	$1.42+305.7%	$1.63+277.2%	$1.35+162.2%
Diluted Shares (Avg)	N/A	387M+8.1%	381M+6.7%	376M+5.3%	N/A	358M+6.9%	357M+9.8%	357M+10.5%

WDC Balance Sheet

WDC quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K	FY0910-K
Total Assets	$13.9B-1.0%	$14.0B-42.1%	$24.2B	$26.3B+0.5%	$26.1B+1.8%	$25.7B-2.7%	$26.4B-9.8%	$29.2B	$32.9B+116.6%	$15.2B-2.1%	$15.5B+10.4%	$14.0B	$8.1B+10.8%	$7.3B+38.5%	$5.3B
Current Assets	$5.6B-3.8%	$5.9B-27.3%	$8.1B	$9.5B-3.1%	$9.8B+7.8%	$9.0B+6.7%	$8.5B-20.3%	$10.6B	$12.6B+47.8%	$8.5B-2.4%	$8.7B+14.8%	$7.6B	$5.5B+16.3%	$4.7B+46.1%	$3.2B
Cash & Equivalents	$1.6B-25.3%	$2.1B+36.3%	$1.6B	$2.3B-30.9%	$3.4B+10.6%	$3.0B-11.8%	$3.5B-31.0%	$5.0B	$8.2B+62.2%	$5.0B+4.6%	$4.8B+11.5%	$4.3B	$3.5B+27.7%	$2.7B+52.4%	$1.8B
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$23.0M	$227.0M-13.4%	$262.0M-7.7%	$284.0M	$0	$0	$0	$0
Inventory	$1.5B+17.0%	$1.3B-6.9%	$1.4B	$3.6B+0.6%	$3.6B+17.8%	$3.1B-6.5%	$3.3B+11.5%	$2.9B	$2.1B+55.6%	$1.4B+11.6%	$1.2B+3.2%	$1.2B	$577.0M+3.0%	$560.0M+48.9%	$376.0M
Accounts Receivable	$2.0B+36.3%	$1.5B+20.7%	$1.2B	$2.8B+24.2%	$2.3B-5.1%	$2.4B+97.6%	$1.2B-45.2%	$2.2B	$1.5B-4.6%	$1.5B-23.0%	$2.0B+10.9%	$1.8B	$1.2B-4.0%	$1.3B+35.6%	$926.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$93.0M	$119.0M	$0-100.0%	$215.0M	$0	$0	$0	$0
Goodwill	$4.3B0.0%	$4.3B0.0%	$4.3B	$10.0B-0.2%	$10.1B0.0%	$10.1B-0.1%	$10.1B0.0%	$10.1B	$10.0B+259.8%	$2.8B+8.1%	$2.6B+31.0%	$2.0B	$151.0M+3.4%	$146.0M+5.0%	$139.0M
Total Liabilities	$5.0B-40.9%	$8.5B-35.6%	$13.1B	$14.0B-8.9%	$15.4B-4.3%	$16.1B-1.8%	$16.4B-7.3%	$17.7B	$21.7B+264.9%	$6.0B-10.6%	$6.7B+8.4%	$6.1B	$2.6B+0.4%	$2.6B+24.8%	$2.1B
Current Liabilities	$4.2B-21.7%	$5.4B-11.0%	$6.1B	$5.2B+7.5%	$4.9B+10.5%	$4.4B+15.4%	$3.8B-14.3%	$4.5B	$6.9B+114.6%	$3.2B-15.8%	$3.8B-3.2%	$4.0B	$2.2B+7.3%	$2.0B+32.7%	$1.5B
Non-Current Liabilities	$757.0M-75.1%	$3.0B-56.8%	$7.1B	$8.8B-16.5%	$10.5B-9.9%	$11.7B-7.0%	$12.6B-5.0%	$13.2B	$14.8B+444.3%	$2.7B-3.5%	$2.8B+29.6%	$2.2B	$460.0M-22.8%	$596.0M+3.8%	$574.0M
Long-Term Debt	$0-100.0%	$2.5B-56.3%	$5.7B	$7.0B-17.1%	$8.5B-8.8%	$9.3B-9.3%	$10.2B-6.8%	$11.0B	$13.7B+535.6%	$2.1B-7.1%	$2.3B+34.1%	$1.7B	$150.0M-49.0%	$294.0M-26.5%	$400.0M
Total Equity	$8.9B+66.9%	$5.3B-50.9%	$10.8B	$12.3B+14.1%	$10.8B+13.1%	$9.6B-4.2%	$10.0B-13.6%	$11.5B	$11.1B+20.9%	$9.2B+4.3%	$8.8B+12.0%	$7.9B	$5.5B+16.5%	$4.7B+47.5%	$3.2B
Retained Earnings	$10.0B+1212.1%	$762.0M-88.8%	$6.8B	$9.0B+19.9%	$7.5B+12.1%	$6.7B-9.7%	$7.4B-14.9%	$8.8B	$8.8B-2.8%	$9.1B+12.9%	$8.1B+19.5%	$6.7B	$4.4B+19.8%	$3.7B+60.3%	$2.3B

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Total Assets	$13.9B-1.0%	$15.0B-8.1%	$15.6B-38.7%	$14.4B-42.0%	$14.0B-42.1%	$16.4B-31.2%	$25.5B+4.4%	$24.8B+3.2%
Current Assets	$5.6B-3.8%	$6.9B-14.5%	$7.5B-19.6%	$6.3B-29.8%	$5.9B-27.3%	$8.1B+7.4%	$9.4B+19.6%	$8.9B+18.0%
Cash & Equivalents	$1.6B-25.3%	$2.0B-41.0%	$2.0B-13.8%	$2.0B+20.1%	$2.1B+36.3%	$3.5B+83.6%	$2.3B-7.7%	$1.7B-16.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$1.5B+17.0%	$1.4B+3.5%	$1.3B-60.6%	$1.4B-58.8%	$1.3B-6.9%	$1.3B-59.2%	$3.4B+6.3%	$3.4B-3.2%
Accounts Receivable	$2.0B+36.3%	$1.9B+28.9%	$1.7B-35.1%	$1.4B-44.9%	$1.5B+20.7%	$1.5B-18.4%	$2.6B+70.5%	$2.5B+69.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$4.3B0.0%	$4.3B0.0%	$4.3B-55.6%	$4.3B-56.0%	$4.3B0.0%	$4.3B-57.0%	$9.7B-3.1%	$9.8B-2.2%
Total Liabilities	$5.0B-40.9%	$5.4B-51.1%	$8.3B-36.9%	$8.2B-36.1%	$8.5B-35.6%	$11.0B-14.4%	$13.1B-2.5%	$12.9B-0.9%
Current Liabilities	$4.2B-21.7%	$4.6B-10.5%	$5.2B+10.0%	$5.2B-15.1%	$5.4B-11.0%	$5.2B+27.9%	$4.7B+0.3%	$6.1B+5.2%
Non-Current Liabilities	$757.0M-75.1%	$728.0M-87.4%	$3.1B-63.2%	$3.1B-54.9%	$3.0B-56.8%	$5.8B-34.0%	$8.4B-3.9%	$6.8B-5.7%
Long-Term Debt	$0-100.0%	$0-100.0%	$2.4B-66.3%	$2.5B-56.5%	$2.5B-56.3%	$4.9B-32.9%	$7.2B-1.8%	$5.7B-3.0%
Total Equity	$8.9B+66.9%	$9.7B+87.0%	$7.1B-41.3%	$5.9B-49.4%	$5.3B-50.9%	$5.2B-48.8%	$12.1B+20.4%	$11.6B+13.8%
Retained Earnings	$10.0B+1212.1%	$6.9B+1216.3%	$3.7B-53.0%	$1.9B-73.8%	$762.0M-88.8%	$521.0M-92.3%	$7.9B+19.1%	$7.3B+7.8%

WDC Cash Flow Statement

WDC quarterly cash flow statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K	FY0910-K
Operating Cash Flow	$3.9B+132.3%	$1.7B+675.2%	-$294.0M	$1.9B-0.9%	$1.9B+130.3%	$824.0M-46.7%	$1.5B-63.2%	$4.2B	$2.0B-11.6%	$2.2B-20.4%	$2.8B-9.7%	$3.1B	$1.7B-14.8%	$1.9B+48.8%	$1.3B
Depreciation & Amortization	$375.0M-16.9%	$451.0M-20.6%	$568.0M	$929.0M-23.3%	$1.2B-22.6%	$1.6B-13.6%	$1.8B-11.9%	$2.1B	$1.2B+3.6%	$1.1B-10.5%	$1.2B+0.9%	$1.2B	$602.0M+18.0%	$510.0M+6.5%	$479.0M
Stock-Based Compensation	$204.0M-23.0%	$265.0M-10.2%	$295.0M	$326.0M+2.5%	$318.0M+3.2%	$308.0M+0.7%	$306.0M-18.8%	$377.0M	$191.0M+17.9%	$162.0M+3.8%	$156.0M+13.9%	$137.0M	$69.0M+15.0%	$60.0M+27.7%	$47.0M
Capital Expenditures	$418.0M+1.5%	$412.0M-15.4%	$487.0M	$1.1B-2.1%	$1.1B+77.1%	$647.0M-26.1%	$876.0M+4.9%	$835.0M	$584.0M-4.6%	$612.0M-2.5%	$628.0M-34.0%	$952.0M	$778.0M+5.6%	$737.0M+42.0%	$519.0M
Free Cash Flow	$3.5B+174.5%	$1.3B+263.8%	-$781.0M	$758.0M+0.8%	$752.0M+324.9%	$177.0M-73.6%	$671.0M-80.1%	$3.4B	$1.4B-14.2%	$1.6B-25.5%	$2.2B+1.0%	$2.2B	$877.0M-27.2%	$1.2B+53.3%	$786.0M
Investing Cash Flow	-$429.0M-386.0%	$150.0M+655.6%	-$27.0M	-$1.2B-55.8%	-$765.0M-375.2%	$278.0M+121.9%	-$1.3B+23.1%	-$1.7B	-$9.6B-908.2%	-$953.0M+50.8%	-$1.9B-99.6%	-$970.0M	-$793.0M+19.6%	-$986.0M-78.9%	-$551.0M
Financing Cash Flow	-$4.0B-150.1%	-$1.6B-962.0%	$187.0M	-$1.7B-110.3%	-$817.0M+45.8%	-$1.5B+17.6%	-$1.8B+53.1%	-$3.9B	$10.8B+1105.7%	-$1.1B-177.7%	-$385.0M+63.3%	-$1.0B	-$106.0M-562.5%	-$16.0M+75.0%	-$64.0M
Dividends Paid	$174.0M+295.5%	$44.0M	$0	$0	$0-100.0%	$595.0M+1.9%	$584.0M-1.5%	$593.0M	$464.0M+17.2%	$396.0M+52.9%	$259.0M+43.1%	$181.0M	N/A	N/A	N/A
Share Buybacks	$2.6B+1639.6%	$149.0M	$0	N/A	$0	$0-100.0%	$563.0M-4.7%	$591.0M	$60.0M-93.8%	$970.0M+18.9%	$816.0M-3.1%	$842.0M	$50.0M	N/A	$36.0M

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Operating Cash Flow	$1.4B+86.2%	$1.1B+121.1%	$745.0M+84.9%	$672.0M+1876.5%	$746.0M+103.8%	$508.0M+775.9%	$403.0M+538.0%	$34.0M+105.4%
Depreciation & Amortization	$99.0M+15.1%	N/A	$92.0M-23.3%	$88.0M-34.8%	$86.0M	N/A	$120.0M-16.1%	$135.0M-8.2%
Stock-Based Compensation	N/A	$53.0M+51.4%	$53.0M+76.7%	$53.0M-36.9%	N/A	$35.0M-32.7%	$30.0M-58.3%	$84.0M+9.1%
Capital Expenditures	$108.0M+52.1%	$145.0M+12.4%	$92.0M-20.7%	$73.0M-24.0%	$71.0M-38.8%	$129.0M+33.0%	$116.0M-22.7%	$96.0M-22.6%
Free Cash Flow	$1.3B+89.8%	$978.0M+158.0%	$653.0M+127.5%	$599.0M+1066.1%	$675.0M+170.0%	$379.0M+1071.8%	$287.0M+218.6%	-$62.0M+91.7%
Investing Cash Flow	-$111.0M-58.6%	-$145.0M-202.1%	-$116.0M-194.3%	-$57.0M-26.7%	-$70.0M-20.7%	$142.0M+1928.6%	$123.0M+305.0%	-$45.0M-153.6%
Financing Cash Flow	-$1.7B+14.3%	-$902.0M-269.2%	-$703.0M-70200.0%	-$678.0M-564.7%	-$2.0B-540.1%	$533.0M+182.6%	-$1.0M-100.2%	-$102.0M-118.4%
Dividends Paid	$54.0M+22.7%	$43.0M	$43.0M	$34.0M	$44.0M	$0	$0	$0
Share Buybacks	$672.0M+351.0%	$752.0M	$615.0M	$553.0M	$149.0M	$0	$0	$0

WDC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WDC quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K	FY0910-K
Gross Margin	48.9%+10.1pp	38.8%+10.7pp	28.1%	31.3%+4.5pp	26.7%+4.1pp	22.6%-0.1pp	22.6%-14.7pp	37.3%	26.4%-2.5pp	29.0%+0.2pp	28.8%+0.4pp	28.4%	18.8%-5.6pp	24.4%+6.4pp	17.9%
Operating Margin	34.5%+10.0pp	24.5%+30.9pp	-6.4%	12.7%+5.5pp	7.2%+5.2pp	2.0%+1.5pp	0.5%-17.0pp	17.5%	3.6%-7.5pp	11.1%-0.8pp	11.8%+3.6pp	8.3%	8.2%-7.3pp	15.5%+8.5pp	7.0%
Net Margin	73.0%+53.1pp	19.8%+32.5pp	-12.6%	8.2%+3.4pp	4.9%+6.3pp	-1.5%+3.1pp	-4.5%-7.8pp	3.3%	1.9%-8.2pp	10.1%-0.6pp	10.7%+4.3pp	6.4%	7.6%-6.4pp	14.0%+7.7pp	6.3%
Return on Equity	106.3%+70.7pp	35.6%+43.0pp	-7.4%	12.6%+5.0pp	7.6%+10.2pp	-2.6%+4.9pp	-7.6%-13.4pp	5.9%	2.2%-13.7pp	15.9%-2.4pp	18.3%+5.9pp	12.4%	13.2%-16.1pp	29.3%+14.6pp	14.7%
Return on Assets	68.0%+54.5pp	13.5%+16.8pp	-3.3%	5.9%+2.8pp	3.1%+4.1pp	-1.0%+1.9pp	-2.9%-5.2pp	2.3%	0.7%-8.9pp	9.7%-0.8pp	10.4%+3.5pp	7.0%	8.9%-9.9pp	18.9%+10.0pp	8.9%
Current Ratio	1.33+0.2x	1.08-0.2x	1.32	1.80-0.2x	2.00-0.1x	2.05-0.2x	2.22-0.2x	2.39	1.81-0.8x	2.63+0.4x	2.27+0.4x	1.91	2.53+0.2x	2.33+0.2x	2.12
Debt-to-Equity	0.00-0.5x	0.47-0.1x	0.53	0.57-0.2x	0.78-0.2x	0.97-0.1x	1.03+0.1x	0.95	1.23+1.0x	0.230.0x	0.260.0x	0.22	0.030.0x	0.06-0.1x	0.13
Asset Turnover	0.93+0.3x	0.68+0.4x	0.26	0.72+0.1x	0.650.0x	0.650.0x	0.63-0.1x	0.71	0.40-0.6x	0.960.0x	0.98-0.1x	1.09	1.17-0.2x	1.34-0.1x	1.41
FCF Margin	27.2%+13.7pp	13.4%+25.8pp	-12.4%	4.0%-0.4pp	4.4%+3.4pp	1.1%-3.0pp	4.0%-12.3pp	16.3%	10.8%-0.4pp	11.2%-3.3pp	14.5%+0.3pp	14.1%	9.2%-3.0pp	12.2%+1.7pp	10.5%

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Gross Margin	54.1%+13.2pp	50.2%+10.5pp	45.7%+8.1pp	43.5%+7.1pp	41.0%+6.2pp	39.8%+10.1pp	37.6%+123.5pp	36.4%
Operating Margin	41.7%	35.7%+2.5pp	30.1%+6.8pp	28.1%+13.0pp	N/A	33.1%+27.8pp	23.3%+38.6pp	15.1%+65.0pp
Net Margin	85.3%+74.4pp	96.0%+73.4pp	61.1%+36.4pp	41.9%+19.7pp	10.8%+8.9pp	22.7%+15.0pp	24.7%+45.6pp	22.3%+79.7pp
Return on Equity	36.0%+30.7pp	33.1%+23.1pp	25.9%+21.0pp	20.1%+15.8pp	5.3%+5.0pp	10.0%+8.7pp	4.9%+7.8pp	4.2%+10.9pp
Return on Assets	23.1%+21.0pp	21.3%+18.1pp	11.8%+9.5pp	8.2%+6.2pp	2.0%+1.8pp	3.2%+2.6pp	2.3%+3.5pp	2.0%+4.8pp
Current Ratio	1.33+0.2x	1.49-0.1x	1.46-0.5x	1.21-0.3x	1.08-0.2x	1.56-0.3x	1.99+0.3x	1.47+0.2x
Debt-to-Equity	0.00-0.5x	0.00-0.9x	0.34-0.3x	0.42-0.1x	0.47-0.1x	0.95+0.2x	0.60-0.1x	0.49-0.1x
Asset Turnover	0.27+0.1x	0.22+0.1x	0.19+0.1x	0.20+0.1x	0.19+0.1x	0.14+0.1x	0.090.0x	0.090.0x
FCF Margin	34.2%+8.3pp	29.3%+12.8pp	21.6%+9.7pp	21.3%+24.1pp	25.9%+13.4pp	16.5%+18.8pp	11.9%+29.6pp	-2.8%+60.0pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Western Digital Corp. WDC	FY2026	$12.9B	$9.4B	73.0%	$148.2B	75/100
Seagate Technology Holdings plc STX	FY2026	$12.2B	$3.2B	26.1%	$193.1B	75/100
Everpure, Inc. PSTG	FY2026	$3.7B	$188.2M	5.1%	$22.4B	50/100
HP Inc. HPQ	FY2025	$55.3B	$2.5B	4.6%	$29.0B	48/100
Super Micro Computer, Inc. SMCI	FY2026	$39.1B	$2.2B	5.7%	$28.7B	62/100
Logitech International SA LOGI	FY2026	$4.8B	$711.2M	14.7%	$14.9B	72/100

Where Western Digital Corp. Ranks

Frequently Asked Questions

What is Western Digital Corp.'s annual revenue?

Western Digital Corp. (WDC) reported $12.9B in total revenue for fiscal year 2026. This represents a 35.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Western Digital Corp.'s revenue growing?

Western Digital Corp. (WDC) revenue grew by 35.7% year-over-year, from $9.5B to $12.9B in fiscal year 2026.

Is Western Digital Corp. profitable?

Yes, Western Digital Corp. (WDC) reported a net income of $9.4B in fiscal year 2026, with a net profit margin of 73.0%.

What is Western Digital Corp.'s EBITDA?

Western Digital Corp. (WDC) had EBITDA of $4.8B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Western Digital Corp. have?

As of fiscal year 2026, Western Digital Corp. (WDC) had $1.6B in cash and equivalents against $0 in long-term debt.

What is Western Digital Corp.'s gross margin?

Western Digital Corp. (WDC) had a gross margin of 48.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Western Digital Corp.'s operating margin?

Western Digital Corp. (WDC) had an operating margin of 34.5% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Western Digital Corp.'s net profit margin?

Western Digital Corp. (WDC) had a net profit margin of 73.0% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Does Western Digital Corp. pay dividends?

Yes, Western Digital Corp. (WDC) paid $0.50 per share in dividends during fiscal year 2026.

What is Western Digital Corp.'s return on equity (ROE)?

Western Digital Corp. (WDC) has a return on equity of 106.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Western Digital Corp.'s free cash flow?

Western Digital Corp. (WDC) generated $3.5B in free cash flow during fiscal year 2026. This represents a 174.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Western Digital Corp.'s operating cash flow?

Western Digital Corp. (WDC) generated $3.9B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Western Digital Corp.'s total assets?

Western Digital Corp. (WDC) had $13.9B in total assets as of fiscal year 2026, including both current and long-term assets.

What are Western Digital Corp.'s capital expenditures?

Western Digital Corp. (WDC) invested $418.0M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Western Digital Corp. spend on research and development?

Western Digital Corp. (WDC) invested $1.2B in research and development during fiscal year 2026.

Does Western Digital Corp. buy back shares?

Yes, Western Digital Corp. (WDC) spent $2.6B on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Western Digital Corp. have outstanding?

Western Digital Corp. (WDC) had 361M shares outstanding as of fiscal year 2026.

What is Western Digital Corp.'s current ratio?

Western Digital Corp. (WDC) had a current ratio of 1.33 as of fiscal year 2026, which is considered adequate.

What is Western Digital Corp.'s debt-to-equity ratio?

Western Digital Corp. (WDC) had a debt-to-equity ratio of 0.00 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Western Digital Corp.'s return on assets (ROA)?

Western Digital Corp. (WDC) had a return on assets of 68.0% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Western Digital Corp.'s P/E ratio?

Western Digital Corp. (WDC) trades at 15.7x earnings, its market capitalization divided by net income of $9.4B net income, FY2026. The market capitalization is $148.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Western Digital Corp.'s price-to-sales ratio?

Western Digital Corp. (WDC) trades at 11.5x sales, its market capitalization divided by revenue of $12.9B revenue, FY2026. The market capitalization is $148.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Western Digital Corp.'s Altman Z-Score?

Western Digital Corp. (WDC) has an Altman Z-Score of 20.92, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Western Digital Corp.'s Piotroski F-Score?

Western Digital Corp. (WDC) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Western Digital Corp.'s earnings high quality?

Western Digital Corp. (WDC) has an earnings quality ratio of 0.42x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Western Digital Corp. cover its interest payments?

Western Digital Corp. (WDC) has an interest coverage ratio of 26.99x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Western Digital Corp.?

Western Digital Corp. (WDC) scores 75 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.