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Western Digital Corporation develops, manufactures, and sells data storage devices and solutions based on hard disk drive (HDD) technology in the United States, Asia, Europe, the Middle East, and Africa. The company offers internal HDDs, data center drives, data center platforms, external drives, portable drives, NAS for home and office, and accessories. It sells its data storage devices and solutions through its computer manufacturers, sales personnel, dealers, distributors, and retailers. The company has a collaboration with Open Quantum Design for the development of quantum error correction technology and related systems to advance reliable quantum computing. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $9.5B | $1.9B | $1.9B | $1.3B | 35.0% | 50.7% | -333.2% |
| 2024 | $6.3B | $243M | $-798M | $-781M | -7.4% | 1.0% | -52.6% |
| 2023 | $6.3B | $289M | $-1.7B | $-1.2B | -15.4% | -66.7% | -208.9% |
| 2022 | $18.8B | $3.4B | $1.5B | $758M | 12.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 18,793 | 6,255 | 6,317 | 9,520 |
| Cost Of Revenue | 12,919 | 4,864 | 4,544 | 5,828 |
| Gross Profit | 5,874 | 1,391 | 1,773 | 3,692 |
| Operating Expense | 3,440 | 1,793 | 1,676 | 1,562 |
| Operating Income | 2,434 | -402 | 97 | 2,130 |
| EBITDA | 3,404 | 289 | 243 | 1,938 |
| EBIT | 2,475 | -539 | -325 | 1,487 |
| Pretax Income | 2,171 | -849 | -739 | 1,130 |
| Tax Provision | 625 | 53 | 26 | -513 |
| Net Income | 1,546 | -1,684 | -798 | 1,861 |
| Net Income Common Stockholders | 1,546 | -1,708 | -852 | 1,840 |
| Total Expenses | 16,359 | 6,657 | 6,220 | 7,390 |
| Interest Expense | 304 | 310 | 414 | 357 |
| Interest Income | 6 | 19 | 33 | 45 |
| Research And Development | 2,323 | 986 | 950 | 994 |
| Selling General And Administration | 1,117 | 807 | 726 | 568 |
| Normalized EBITDA | 3,447 | 435 | 743 | 2,606 |
| Normalized Income | 1,576.53 | -786.66 | -370 | 2,142.72 |
| Market Cap | 138,127 | 138,127 | 138,127 | 138,127 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Western Digital Corporationthis co. | WDC | $141.6B | 74.22↑ premium | 26.01 | 35.0% | 72.61 |
| Salesforce, Inc. | CRM | $169.2B | 19.54 | 2.46 | 12.6% | 12.40 |
| QUALCOMM Incorporated | QCOM | $163.5B | 28.69 | 7.50 | 26.1% | 11.27 |
| Uber Technologies, Inc. | UBER | $155.6B | 15.28 | 5.68 | 37.2% | 22.70 |
| Corning Incorporated | GLW | $150.1B |
| 94.67 |
| 12.80 |
| 13.5% |
| 42.56 |
| Dell Technologies Inc. | DELL | $143.2B | 23.67 | -56.88 | -240.3% | 13.54 |
| Marvell Technology, Inc. | MRVL | $141.5B | 53.81 | 10.04 | 18.7% | 32.12 |
| Palo Alto Networks, Inc. | PANW | $118.4B | 127.70 | 18.51 | 14.5% | 73.60 |
| Accenture plc | ACN | $111.5B | 14.30 | 3.52 | 24.6% | 8.97 |
| Peer Median | - | 26.18 | 6.59 | 16.6% | 18.12 | |