WDC Financials Western Digital

15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated 34 d ago Overview →

Growth & profitability

Revenue has declined 5.3% per year over the past 5 years.
Net income has grown faster than revenue (62.9% vs -5.3% per year).
Operating margin has expanded, at 34.5% in the latest year.
Free cash flow has grown 36.1% per year over the past 5 years.

Financial health

The company holds more cash ($1.6B) than total debt ($1.1B).
Total debt has grown slower than revenue (-34.5% vs -5.3% per year).
Operating income covered interest expense 27× in the latest year.
Total debt is 0.2× EBITDA.

Shareholder returns

Dividends have been paid for 2 consecutive years, consuming 1.8% of earnings and 5.0% of free cash flow.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2026	$12.9B	$9.4B	48.9%	34.5%	106.3%	68.0%	$3.5B	$1.1B	$1.6B
2025	$9.5B	$1.9B	38.8%	24.5%	35.6%	13.5%	$1.3B	$4.7B	$2.1B
2024	$6.3B	-$798M	28.1%	-6.4%	-7.4%	-3.3%	-$781M	$7.4B	$1.6B
2023	$6.3B	-$1.7B	22.2%	-8.8%	-15.4%	-6.9%	-$1.2B	$7.1B	$2.0B
2022	$18.8B	$1.5B	31.3%	12.7%	12.5%	5.9%	$758M	$7.0B	$2.3B
2021	$16.9B	$821M	26.7%	7.2%	7.6%	3.1%	$752M	$8.7B	$3.4B
2020	$16.7B	-$250M	22.6%	2.0%	-2.6%	-1.0%	$177M	$9.6B	$3.0B
2019	$16.6B	-$754M	22.6%	0.5%	-7.6%	-2.9%	$671M	$10.5B	$3.5B
2018	$20.6B	$675M	37.3%	17.5%	5.9%	2.3%	$3.4B	$11.2B	$5.0B
2017	$19.1B	$397M	31.8%	10.2%	3.5%	1.3%	$2.9B	$13.4B	$6.4B
2016	—	$242M	—	—	2.2%	0.7%	$1.4B	$17.5B	$8.2B
2015	—	$1.5B	—	—	15.9%	9.7%	$1.6B	$2.3B	$5.0B
2014	—	$1.6B	—	—	18.3%	10.4%	$2.2B	$2.4B	$4.8B
2013	—	$980M	—	—	12.4%	7.0%	$2.2B	$2.0B	$4.3B
2012	—	$1.6B	—	—	21.0%	11.3%	$2.4B	$2.2B	$3.2B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jul '26	$3.7B	$3.2B	54.1%	41.7%	36.0%	23.1%	$1.3B	$1.1B	$1.6B
Apr '26	$3.3B	$3.2B	50.2%	35.7%	33.1%	21.3%	$978M	$1.6B	$2.0B
Jan '26	$3.0B	$1.8B	45.7%	30.1%	25.9%	11.8%	$653M	$4.7B	$2.0B
Oct '25	$2.8B	$1.2B	43.5%	28.1%	20.1%	8.2%	$599M	$4.7B	$2.0B
Jun '25	$2.6B	$282M	41.0%	26.1%	5.3%	2.0%	$675M	$4.7B	$2.1B
Mar '25	$2.3B	$520M	39.8%	33.1%	10.0%	3.2%	$379M	$7.3B	$3.5B
Dec '24	$2.4B	$594M	37.7%	23.2%	4.9%	2.3%	$287M	$7.4B	$2.3B
Sep '24	$2.2B	$493M	36.4%	15.1%	4.2%	2.0%	-$62M	$7.4B	$1.7B
Jun '24	$2.0B	$39M	34.8%	-4.5%	0.4%	0.2%	$250M	$7.4B	$1.6B
Mar '24	$1.8B	$135M	29.6%	5.4%	1.3%	0.6%	-$39M	$7.8B	$1.9B
Dec '23	$1.4B	-$287M	22.9%	-15.4%	-2.9%	-1.2%	-$242M	$8.4B	$2.5B
Sep '23	$2.8B	-$685M	3.6%	-21.7%	-6.7%	-2.9%	-$750M	$7.7B	$2.0B
Jun '23	$2.7B	-$709M	3.4%	-24.3%	-6.5%	-2.9%	-$187M	$7.1B	$2.0B
Mar '23	$2.8B	-$571M	10.2%	-16.8%	-4.9%	-2.3%	-$505M	$7.1B	$2.2B
Dec '22	$3.1B	-$451M	17.0%	-10.3%	-3.7%	-1.8%	-$223M	$7.1B	$1.9B
Sep '22	$3.7B	$27M	26.3%	4.2%	0.2%	0.1%	-$314M	$7.1B	$2.0B
Jul '22	$4.5B	$301M	31.9%	12.4%	2.4%	1.1%	$15M	$7.0B	$2.3B
Apr '22	$4.4B	$25M	27.0%	7.4%	0.2%	0.1%	$107M	$7.2B	$2.5B
Dec '21	$4.8B	$564M	32.8%	15.0%	4.7%	2.2%	$360M	$7.3B	$2.5B
Oct '21	$5.1B	$610M	33.0%	15.4%	5.4%	2.3%	$276M	$8.5B	$3.3B

Valuation over time

How the market has priced WDC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 8.8× (Mar '23) to 16.9× (Sep '26).
The price-to-sales ratio has risen from 0.7× (Mar '23) to 12.3× (Sep '26).
The dividend yield has fallen from 0.2% (Jun '25) to 0.1% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is WDC growing its revenue and profit?

Over the past 5 years, Western Digital's revenue has declined 5.3% per year, and net income grown 62.9% per year. These are computed facts, not advice.

How much debt does WDC have?

As of FY2026, Western Digital reported $1.1B of total debt against $1.6B of cash; operating income covered interest expense 27×.

What is WDC's profit margin?

In FY2026, gross margin was 48.9%, operating margin 34.5%, and net margin 72.9%.

What is WDC's P/E ratio?

As of Sep '26, Western Digital traded at a price-to-earnings ratio of about 16.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.