Western Digital

Information Technology Technology Hardware, Storage & Peripherals San Jose, California Last filing Aug 14, 2025 · FY2025

                    Revenue
                    FY2025
                
$9.5B
                    3y CAGR -20.3%
                    
                    P2
                    
                    +50.7%
                    
                    Net income
                    FY2025
                
$1.9B
                    Net margin +19.8%
                    
                    P62
                    
                    +336.7%
                    
                    Total assets
                    FY2025
                
$14.0B
                    ROA +13.5%
                    
                    P74
                    
                    -42.1%
                    
                    Operating cash flow
                    FY2025
                
$1.7B
                    FCF margin +13.4%
                    
                    P24
                    
                    +675.2%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $14.0B

Total liabilities $8.5B

Shareholders equity $5.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	22.2%	29.7%	15.6%	12.4%	19.9%	18.2%	—	20.9%	30.8%	—
Short Term Investments	3.7%	0.0%	—	—	—	—	—	—	—	—
Accounts Receivable	15.6%	34.3%	12.3%	14.9%	13.3%	14.2%	—	7.3%	9.4%	—
Inventory	13.6%	52.9%	28.4%	19.4%	21.4%	18.3%	—	19.8%	11.3%	—
Prepaid Expenses	6.4%	10.7%	4.4%	3.6%	3.0%	3.3%	—	3.2%	2.0%	—
Other Current Assets	6.4%	10.7%	4.4%	3.6%	3.0%	3.3%	—	3.2%	2.0%	—
Total Current Assets	61.5%	127.6%	60.6%	50.3%	57.7%	54.1%	—	51.2%	53.5%	—
Property,Plant and Equipment	24.6%	50.1%	27.8%	19.5%	18.8%	17.1%	—	17.2%	14.7%	—
Operating Lease Assets	1.3%	5.2%	2.0%	1.6%	1.3%	1.4%	—	—	—	—
Goodwill	45.4%	158.8%	77.2%	53.4%	59.5%	60.2%	—	60.8%	48.5%	—
Intangible Assets	0.0%	1.2%	0.6%	1.1%	2.6%	5.6%	—	10.3%	18.5%	—
Other Noncurrent Assets	15.6%	29.4%	11.6%	7.9%	6.5%	5.2%	—	2.8%	2.9%	—
Total Assets	147.1%	382.9%	188.8%	139.7%	154.4%	153.3%	—	159.2%	144.6%	—
Liabilities
Accounts Payable	13.3%	—	—	10.1%	11.4%	11.6%	—	9.5%	10.4%	—
Accrued Liabilities	7.6%	23.4%	9.9%	8.7%	8.2%	7.7%	—	7.8%	6.1%	—
Current Portion of Long Term Debt	23.4%	27.7%	9.3%	0.0%	1.5%	1.7%	—	1.7%	1.1%	—
Operating Lease Liabilities	0.3%	0.7%	0.3%	0.2%	0.2%	0.2%	—	—	—	—
Other Current Liabilities	5.9%	0.6%	—	—	—	—	—	—	—	—
Total Current Liabilities	56.9%	96.4%	41.8%	27.9%	28.8%	26.3%	—	23.0%	21.0%	—
Long Term Debt	26.1%	90.0%	45.0%	37.4%	50.1%	55.5%	—	61.8%	62.6%	—
Operating Lease Liabilities Noncurrent	1.2%	4.9%	1.9%	1.5%	1.2%	1.2%	—	—	—	—
Deferred Tax Liabilities	0.0%	5.8%	2.7%	2.3%	3.0%	3.3%	—	4.0%	4.5%	—
Other Noncurrent Liabilities	5.9%	21.7%	10.9%	9.5%	12.2%	14.4%	—	14.1%	5.7%	—
Total Liabilities	88.9%	208.0%	97.7%	74.7%	91.1%	96.3%	—	99.0%	89.3%	—
Equity
Preferred Stock	0.0%	0.0%	—	0.0%	0.0%	0.0%	—	0.0%	0.0%	—
Common Stock	15.2%	0.0%	8.4%	5.7%	6.3%	6.4%	—	6.4%	5.1%	—
Additional Paid In Capital	48.5%	75.2%	30.3%	19.9%	21.3%	22.2%	—	23.2%	21.8%	—
Retained Earnings	8.0%	107.3%	58.2%	48.1%	44.6%	40.2%	—	45.0%	41.8%	—
Treasury Stock	1.0%	0.0%	0.0%	0.0%	1.4%	4.4%	—	7.7%	8.1%	—
Accumulated Other Comprehensive Income	0.2%	-11.3%	-4.2%	-2.9%	-1.2%	-0.9%	—	-0.4%	-0.3%	—
Total Stockholders Equity	55.8%	171.3%	84.3%	65.6%	63.8%	57.1%	—	60.2%	55.3%	—
Total Liabilitiesand Equity	147.1%	382.9%	182.0%	140.3%	154.9%	153.3%	—	159.2%	144.6%	—

Income Statement

Revenue, expense, and profitability

20 accounts · 10 years

Revenue $9.5B

Operating income $2.3B

Net income $1.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	—	100.0%	100.0%	—
Expenses Cost of Revenue	61.2%	71.9%	77.4%	68.7%	73.3%	77.4%	—	77.4%	62.7%	—
Expenses Research and Development	10.4%	15.0%	14.7%	12.4%	13.3%	13.5%	—	13.2%	11.6%	—
Expenses Selling,General and Administrative	6.0%	11.5%	6.4%	5.9%	6.5%	6.9%	—	7.9%	7.1%	—
Expenses Depreciation and Amortization	4.7%	9.0%	4.4%	4.9%	7.2%	9.4%	—	10.9%	10.0%	—
Expenses Share Based Compensation	2.8%	4.7%	—	—	—	—	—	—	—	—
Expenses Operating Expenses	14.3%	34.4%	25.1%	18.5%	19.5%	20.6%	—	22.1%	19.8%	—
Other Income Expense Gross Profit	38.8%	28.1%	22.6%	31.3%	26.7%	22.6%	—	22.6%	8.1%	—
Other Income Expense Operating Income	24.5%	-6.4%	-2.4%	12.7%	7.2%	2.0%	—	0.5%	3.2%	—
Other Income Expense Interest Income	0.5%	0.5%	0.3%	0.0%	0.0%	0.2%	—	0.3%	0.3%	—
Other Income Expense Interest Expense	3.8%	6.6%	2.4%	1.6%	1.9%	2.5%	—	2.8%	3.3%	—
Other Income Expense Other Income/expense	-0.2%	0.7%	0.3%	0.4%	0.2%	0.0%	—	0.2%	-4.4%	—
Other Income Expense Income Before Tax	11.9%	-11.7%	-5.1%	11.6%	5.5%	-0.3%	—	-1.7%	10.1%	—
Income Tax Income Tax Expense	-5.4%	0.4%	1.1%	3.3%	0.6%	1.2%	—	2.8%	6.8%	—
net Income net Income	19.8%	-12.6%	-6.1%	8.2%	4.9%	-1.5%	—	-4.6%	1.4%	—
net Income Comprehensive Income	21.8%	-15.2%	-1.3%	6.1%	4.6%	-2.0%	—	-4.7%	3.4%	—
Earnings Per Share Basic Eps	0.0%	-0.0%	-0.0%	0.0%	0.0%	-0.0%	—	-0.0%	0.0%	—
Earnings Per Share Diluted Eps	0.0%	-0.0%	-0.0%	0.0%	0.0%	-0.0%	—	-0.0%	0.0%	—
Earnings Per Share Weighted Average Shares Basic	3.6%	5.2%	2.5%	1.7%	1.8%	1.8%	—	1.8%	1.4%	—
Earnings Per Share Weighted Average Shares Diluted	3.8%	5.2%	2.5%	1.7%	1.8%	1.8%	—	1.8%	1.5%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $1.7B

Investing cash flow $150.0M

Financing cash flow $-1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	19.8%	-12.6%	-6.1%	8.2%	4.9%	-1.5%	—	-4.6%	1.4%	—
Operating Activities Depreciation and Amortization	4.7%	9.0%	4.4%	4.9%	7.2%	9.4%	—	10.9%	10.0%	—
Operating Activities Stock Based Compensation	2.8%	4.7%	2.3%	1.7%	1.9%	1.8%	—	1.8%	1.8%	—
Operating Activities Deferred Income Taxes	-8.6%	-1.4%	-1.2%	0.6%	-1.4%	-0.5%	—	2.3%	-1.7%	—
Operating Activities Changes In Operating Assets and Liabilities	-0.4%	6.5%	2.6%	1.9%	1.6%	2.1%	—	1.3%	-6.5%	—
Operating Activities Other Non Cash Items	0.8%	0.3%	—	—	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	17.8%	-4.7%	-2.3%	10.0%	11.2%	4.9%	—	9.3%	20.4%	—
Investing Activities Capital Expenditures	4.3%	7.7%	3.7%	6.0%	6.8%	3.9%	—	5.3%	4.0%	—
Investing Activities Other Investing Activities	-0.1%	-0.4%	-0.2%	0.1%	-0.0%	-0.1%	—	0.1%	-0.1%	—
Investing Activities net Cash From Investing Activities	1.6%	-0.4%	-0.2%	-6.3%	-4.5%	1.7%	—	-7.7%	-8.0%	—
Financing Activities Proceeds From Debt	22.6%	47.5%	—	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	22.0%	33.3%	—	19.3%	5.2%	5.9%	—	1.1%	82.7%	—
Financing Activities Repurchase of Common Stock	1.6%	0.0%	—	—	0.0%	0.0%	—	3.4%	2.9%	—
Financing Activities Dividends Paid	0.5%	0.0%	—	0.0%	0.0%	3.6%	—	3.5%	2.9%	—
Financing Activities Proceeds From Stock Issuance	0.8%	1.3%	0.6%	0.6%	0.8%	0.8%	—	0.7%	1.1%	—
Financing Activities net Cash From Financing Activities	-16.9%	3.0%	1.4%	-9.1%	-4.8%	-9.0%	—	-11.0%	-18.9%	—
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.2%	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	2.5%	-2.3%	-1.1%	-5.5%	1.9%	-2.4%	—	-9.4%	-6.5%	—
Cash Reconciliation Cash At Beginning of Period	22.2%	29.7%	15.6%	12.4%	19.9%	18.2%	—	20.9%	30.8%	—
Cash Reconciliation Cash At End of Period	22.2%	29.7%	15.6%	12.4%	19.9%	18.2%	—	20.9%	30.8%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+38.8%	+28.1%	+22.6%	+31.3%	+26.7%	+22.6%	—	+22.6%	+37.3%	—
Operating margin	+24.5%	-6.4%	-2.4%	+12.7%	+7.2%	+2.0%	—	+0.5%	+3.2%	—
Net margin	+19.8%	-12.6%	-6.1%	+8.2%	+4.9%	-1.5%	—	-4.6%	+1.4%	—
FCF margin	+13.4%	-12.4%	-6.0%	+4.0%	+4.4%	+1.1%	—	+4.0%	+16.3%	—
Growth
Revenue CAGR (3y)	-20.3%	-28.0%	-8.1%	—	+0.7%	-6.8%	—	—	+10.9%	—
Returns
ROE	+35.6%	-7.4%	-7.3%	+12.5%	+7.6%	-2.6%	—	-7.6%	+2.5%	—
ROA	+13.5%	-3.3%	-3.3%	+5.9%	+3.1%	-1.0%	—	-2.9%	+0.9%	—
ROIC	+29.5%	-2.5%	-2.0%	+10.0%	+6.7%	+2.1%	—	+0.5%	+1.2%	—
Liquidity
Current ratio	1.08x	1.32x	1.45x	1.81x	2.00x	2.05x	—	2.22x	2.55x	—
Quick ratio	0.66x	0.66x	0.67x	0.98x	1.16x	1.23x	—	1.22x	1.91x	—
Leverage
D/E	1.59x	1.21x	1.16x	1.14x	1.43x	1.69x	—	1.65x	1.62x	—
Interest coverage	6.54x	-0.97x	-1.02x	7.87x	3.74x	0.81x	—	0.19x	0.96x	—
Efficiency
Asset turnover	0.68x	0.26x	0.53x	0.72x	0.65x	0.65x	—	0.63x	0.69x	—
Cash conversion cycle	+59d	—	—	+104d	+98d	+84d	—	+75d	+40d	—

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Western Digital

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