WDC · Nasdaq · United States · Computer Storage Devices

WESTERN DIGITAL CORP

San Jose, CA · Fiscal year ends in July · Figures in USD

In shortWESTERN DIGITAL CORP is profitable, generates cash and holds more cash than debt, with revenue growing (+35.7% last year).

Financial health

Solid

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability100

Operating marginShare of each sale left after running the business, before interest and tax.	34.5%	100/100
Net marginShare of each sale left as profit after every cost, interest and tax.	72.9%	100/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	133.0%	100/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	42.7%	100/100

Weight in the score: 25%

Balance sheet89

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	1.33×	44/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.12×	100/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	Net cash	100/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	26.99×	100/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	7.03	100/100

Weight in the score: 25%

Cash generation53

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	27.2%	100/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	0.37×	9/100
Years with positive free cash flow (last 5)	3 of 5	50/100

Weight in the score: 20%

Stability32
Profitable years (last 5) 3 of 5 60/100
Years of revenue decline (last 5) 1 of 5 67/100
Revenue growth volatility 45.3% 0/100
Operating margin volatility 18.9% 0/100
Weight in the score: 20%
Growth100
Revenue growth, 3-year average 27.4% 100/100
EPS growth, 3-year average – n/a
Weight in the score: 10%

Profitable years (last 5)	3 of 5	60/100
Years of revenue decline (last 5)	1 of 5	67/100
Revenue growth volatility	45.3%	0/100
Operating margin volatility	18.9%	0/100

Revenue growth, 3-year average	27.4%	100/100
EPS growth, 3-year average	–	n/a

Fiscal year 2026 · change vs prior year

Revenue: $12.9B; ▲ 35.7%
Net income: $9.4B; ▲ 398.9%
Free cash flow: $3.5B; ▲ 174.5%
Operating margin: 34.5%; +10.0 pts
Cash & investments: $1.6B; –
Total debt: $1.1B; ▼ 77.7%
Diluted EPS: $24.28; ▲ 374.2%
Return on equity: 133.0%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

GrossOperatingNet

Free cash flow

Cash versus debt

Cash & investmentsTotal debt

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY22	FY23	FY24	FY25	FY26
Revenue	18,793	6,255	6,317	9,520	12,919
Cost of revenue	12,919	4,864	4,544	5,828	6,608
Gross profit	5,874	1,391	1,773	3,692	6,311
Research & development	2,323	986	950	994	1,161
Selling, general & admin	1,117	807	726	568	551
Operating income	2,391	(548)	(403)	2,334	4,453
Interest expense	304	312	414	357	165
Pre-tax income	2,171	(849)	(739)	1,130	9,905
Income tax	625	53	26	(513)	481
Net income	1,546	(1,684)	(798)	1,889	9,424
Diluted EPS	$4.89	−$5.37	−$2.61	$5.12	$24.28
Diluted shares (millions)	316	318	326	359	383

5 older years available with the 10-year history. Essential plan, from €8.25/month →

🔒 Export to Excel · Investor plan

Risk checks

Altman Z'' score

7.03 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

7/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: failed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: failed
Gross margin improved: passed
Asset turnover improved: passed

Sources

10-QPeriod ending Oct 2, 2026Filed Oct 23, 2026Open the report ↗
10-KPeriod ending Jul 3, 2026Filed Aug 14, 2026Open the report ↗
10-QPeriod ending Apr 3, 2026Filed May 1, 2026Open the report ↗
10-QPeriod ending Jan 2, 2026Filed Jan 30, 2026Open the report ↗
10-QPeriod ending Oct 3, 2025Filed Oct 31, 2025Open the report ↗
10-KPeriod ending Jun 27, 2025Filed Aug 14, 2025Open the report ↗
10-QPeriod ending Mar 28, 2025Filed May 2, 2025Open the report ↗
10-QPeriod ending Dec 27, 2024Filed Jan 31, 2025Open the report ↗

All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works

Latest annual report: Oct 2, 2026 · Data updated Oct 23, 2026

Reading the annual reports…

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Operating marginShare of each sale left after running the business, before interest and tax.

34.5%

100/100

Net marginShare of each sale left as profit after every cost, interest and tax.

72.9%

100/100

Return on equityProfit earned on the money shareholders put in. Above 15% is strong.

133.0%

100/100

Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.

42.7%

100/100

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.

1.33×

44/100

Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.

0.12×

100/100

Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.

Net cash

100/100

Interest coverageHow many times operating profit covers interest. Below 2 is risky.

26.99×

100/100

Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.

7.03

100/100

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.

27.2%

100/100

Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.

0.37×

9/100

Years with positive free cash flow (last 5)

3 of 5

50/100

Profitable years (last 5)	3 of 5	60/100
Years of revenue decline (last 5)	1 of 5	67/100
Revenue growth volatility	45.3%	0/100
Operating margin volatility	18.9%	0/100

Profitable years (last 5)

3 of 5

60/100

Years of revenue decline (last 5)

1 of 5

67/100

Revenue growth volatility

45.3%

0/100

Operating margin volatility

18.9%

0/100

Revenue growth, 3-year average	27.4%	100/100
EPS growth, 3-year average	–	n/a

Revenue growth, 3-year average

27.4%

100/100

EPS growth, 3-year average

–

n/a

Trends

Annual figures as reported. Hover a bar or point for the exact value.

Revenue and net income

RevenueNet income

Margins

GrossOperatingNet

Free cash flow

Cash versus debt

Cash & investmentsTotal debt

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY22	FY23	FY24	FY25	FY26
Revenue	18,793	6,255	6,317	9,520	12,919
Cost of revenue	12,919	4,864	4,544	5,828	6,608
Gross profit	5,874	1,391	1,773	3,692	6,311
Research & development	2,323	986	950	994	1,161
Selling, general & admin	1,117	807	726	568	551
Operating income	2,391	(548)	(403)	2,334	4,453
Interest expense	304	312	414	357	165
Pre-tax income	2,171	(849)	(739)	1,130	9,905
Income tax	625	53	26	(513)	481
Net income	1,546	(1,684)	(798)	1,889	9,424
Diluted EPS	$4.89	−$5.37	−$2.61	$5.12	$24.28
Diluted shares (millions)	316	318	326	359	383

Risk checks

Altman Z'' score

7.03 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

7/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: failed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: failed
Gross margin improved: passed
Asset turnover improved: passed

Sources

10-QPeriod ending Oct 2, 2026Filed Oct 23, 2026Open the report ↗
10-KPeriod ending Jul 3, 2026Filed Aug 14, 2026Open the report ↗
10-QPeriod ending Apr 3, 2026Filed May 1, 2026Open the report ↗
10-QPeriod ending Jan 2, 2026Filed Jan 30, 2026Open the report ↗
10-QPeriod ending Oct 3, 2025Filed Oct 31, 2025Open the report ↗
10-KPeriod ending Jun 27, 2025Filed Aug 14, 2025Open the report ↗
10-QPeriod ending Mar 28, 2025Filed May 2, 2025Open the report ↗
10-QPeriod ending Dec 27, 2024Filed Jan 31, 2025Open the report ↗

All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works

Latest annual report: Oct 2, 2026 · Data updated Oct 23, 2026