Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Western Digital

WDC stock analysis · Information Technology · Technology Hardware, Storage & Peripherals

FY 2025-06-27ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$638.72HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$220.2B

Price × SEC outstanding shares. Shares measured 2026-04-23. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$56.36

Equity cash-flow scenario · SEC outstanding shares at 2026-04-23 · -91.2% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

76.8%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-74.3%

6 industry peers · median 30.8×

How this is calculated ↗
Valuation

Historical multiples

28.4×

4 annual observations · snapshot P/E 119.6× · 320.8% versus history

How this is calculated ↗
Valuation

Free cash flow yield

0.6%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

15.0%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

14/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

-42.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

0.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

1.0%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

34.7%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 3.9B2021-07-02: cfo $1,898,000,000.002021-07-02: capex $1,146,000,000.0020212022-07-01: cfo $1,880,000,000.002022-07-01: capex $1,122,000,000.0020222023-06-30: cfo -$408,000,000.00 (negative; lower scale compressed)2023-06-30: capex $821,000,000.0020232024-06-28: cfo -$294,000,000.00 (negative; lower scale compressed)2024-06-28: capex $487,000,000.0020242025-06-27: cfo $1,691,000,000.002025-06-27: capex $412,000,000.0020252026-07-03: cfo $3,929,000,000.002026-07-03: capex $418,000,000.002026
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$70.69$77.13$84.05
10.0%$51.80$56.36$61.25
12.0%$40.87$44.35$48.07

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2026-07-0312.9B9.4B3.9B418M13.9B
2025-06-279.5B1.9B1.7B412M14B
2024-06-286.3B-798M-294M487M24.2B
2023-06-306.3B-1.7B-408M821M24.5B
2022-07-0118.8B1.5B1.9B1.1B26.3B
2021-07-0216.9B821M1.9B1.1B26.1B
2020-07-0316.7B-250M824M647M25.7B
2019-06-2816.6B-754M1.5B876M26.4B
2018-06-2920.6B675M4.2B835M29.2B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue9.5BRevenueFromContractWithCustomerExcludingAssessedTax2026-08-14
netIncome1.9BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-08-14
Parent/common earnings proxy1.8BNetIncomeLossAvailableToCommonStockholdersBasic2026-08-14
cfo1.7BNetCashProvidedByUsedInOperatingActivities2026-08-14
capex412MPaymentsToAcquirePropertyPlantAndEquipment2026-08-14
operatingIncome2.3BOperatingIncomeLoss2026-08-14
assets14BAssets2026-08-14
equity5.3BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-08-14
Parent book equity proxy5.3BStockholdersEquity2026-08-14
debt4.7BLongTermDebt2026-08-14
shortDebtNot reported under a supported tag
cash2.1BCashAndCashEquivalentsAtCarryingValue2026-08-14
shares359MWeightedAverageNumberOfDilutedSharesOutstanding2026-08-14
dividends44MPaymentsOfDividendsCommonStock2026-08-14
buybacks149MPaymentsForRepurchaseOfCommonStock2026-08-14
issuance77MReviewed manual correction
Bounded FY2025-06-27 consolidated financing-statement extraction. Issuance of stock under employee stock plans: 77000000 USD [us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans]. All 13 financing lines reconcile exactly to reported financing cash flow -1612000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction.
2026-08-14