Stock WDC WESTERN DIGITAL CORPORATION
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Financials Western Digital Corporation

Equities

WDC

US9581021055

Computer Hardware

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
71.36 USD +2.76% Intraday chart for Western Digital Corporation +8.04% +36.26%
Apr. 26 Western Digital's Guidance Is 'Very Conservative' Amid Favorable NAND, HDD Trends, Wedbush Says MT
Apr. 26 Evercore ISI Adjusts Price Target on Western Digital to $85 From $80 MT

Valuation

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,932 13,232 21,810 14,039 12,135 23,297 - -
Enterprise Value (EV) 1 20,999 19,759 27,165 18,734 17,182 29,100 27,685 27,578
P/E ratio -18.4 x -52.6 x 26.8 x 9.44 x -6.97 x -39 x 12.3 x 12.8 x
Yield 4.21% 3.4% - - - - - 2.7%
Capitalization / Revenue 0.84 x 0.79 x 1.29 x 0.75 x 0.99 x 1.8 x 1.34 x 1.29 x
EV / Revenue 1.27 x 1.18 x 1.61 x 1 x 1.39 x 2.25 x 1.59 x 1.53 x
EV / EBITDA 5.47 x 6.4 x 8.71 x 4.55 x 73.4 x 28.5 x 6.66 x 7.84 x
EV / FCF 109 x 17.8 x 24.1 x 24.2 x -14.3 x -274 x 17.3 x 15.1 x
FCF Yield 0.91% 5.61% 4.15% 4.13% -6.99% -0.36% 5.78% 6.63%
Price to Book 1.39 x 1.39 x 2.04 x 1.16 x - 2.22 x 1.86 x 1.69 x
Nbr of stocks (in thousands) 292,998 299,701 306,453 313,168 319,937 326,476 - -
Reference price 2 47.55 44.15 71.17 44.83 37.93 71.36 71.36 71.36
Announcement Date 7/31/19 8/5/20 8/4/21 8/5/22 7/31/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 16,569 16,736 16,922 18,793 12,318 12,945 17,448 18,073
EBITDA 1 3,836 3,088 3,118 4,115 234 1,020 4,155 3,517
EBIT 1 2,024 1,522 1,906 3,186 -594 287.9 3,625 3,074
Operating Margin 12.22% 9.09% 11.26% 16.95% -4.82% 2.22% 20.78% 17.01%
Earnings before Tax (EBT) 1 -287 -46 927 2,123 -1,560 -421 2,074 2,284
Net income 1 -754 -250 821 1,500 -1,730 -614.3 2,088 1,826
Net margin -4.55% -1.49% 4.85% 7.98% -14.04% -4.75% 11.97% 10.1%
EPS 2 -2.580 -0.8400 2.660 4.750 -5.440 -1.827 5.780 5.586
Free Cash Flow 1 192 1,108 1,126 773 -1,201 -106 1,602 1,830
FCF margin 1.16% 6.62% 6.65% 4.11% -9.75% -0.82% 9.18% 10.12%
FCF Conversion (EBITDA) 5.01% 35.88% 36.11% 18.78% - - 38.54% 52.01%
FCF Conversion (Net income) - - 137.15% 51.53% - - 76.7% 100.2%
Dividend per Share 2 2.000 1.500 - - - - - 1.928
Announcement Date 7/31/19 8/5/20 8/4/21 8/5/22 7/31/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juni 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 5,051 4,833 4,381 4,528 3,736 3,107 2,803 2,672 2,750 3,032 3,457 3,725 4,195 4,536 4,473
EBITDA 1 1,202 1,124 866 923 523 95 -91 -293 -296 52 520 676.3 978.6 1,212 1,344
EBIT 1 952 882 650 702 307 -119 -304 -478 -443 -91 380 531.9 823.3 1,065 1,070
Operating Margin 18.85% 18.25% 14.84% 15.5% 8.22% -3.83% -10.85% -17.89% -16.11% -3% 10.99% 14.28% 19.63% 23.49% 23.92%
Earnings before Tax (EBT) 1 704 646 262 511 84 -385 -529 -730 -682 -240 178 313.5 481 704.8 691.5
Net income 1 610 564 25 301 27 -446 -581 -730 -700 -282 113 277.4 441.9 595.8 608
Net margin 12.08% 11.67% 0.57% 6.65% 0.72% -14.35% -20.73% -27.32% -25.45% -9.3% 3.27% 7.45% 10.53% 13.13% 13.59%
EPS 2 1.930 1.790 0.0800 0.9500 0.0800 -1.400 -1.820 -2.270 -2.170 -0.8700 0.3400 0.8536 1.278 1.605 1.649
Dividend per Share 2 - - - - - - - - - - - - 0.2914 0.2899 0.2885
Announcement Date 10/28/21 1/27/22 4/28/22 8/5/22 10/27/22 1/31/23 5/8/23 7/31/23 10/30/23 1/25/24 4/25/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 7,067 6,527 5,355 4,695 5,047 5,802 4,388 4,281
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.842 x 2.114 x 1.717 x 1.141 x 21.57 x 5.69 x 1.056 x 1.217 x
Free Cash Flow 1 192 1,108 1,126 773 -1,201 -106 1,602 1,830
ROE (net income / shareholders' equity) 13.3% 9.37% 6.94% 11.3% -9.91% -3.47% 18.1% 13%
ROA (Net income/ Total Assets) 5.14% 3.51% 3.17% 4.96% -6.83% -2.9% 6.09% 5.35%
Assets 1 -14,670 -7,116 25,897 30,237 25,344 21,184 34,296 34,118
Book Value Per Share 2 34.10 31.70 34.90 38.80 - 32.10 38.40 42.30
Cash Flow per Share 2 5.300 2.770 6.140 5.950 -1.280 1.470 11.00 9.780
Capex 1 1,355 647 1,003 1,107 807 335 1,163 1,377
Capex / Sales 8.18% 3.87% 5.93% 5.89% 6.55% 2.59% 6.67% 7.62%
Announcement Date 7/31/19 8/5/20 8/4/21 8/5/22 7/31/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Western Digital Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
26
Last Close Price
71.36 USD
Average target price
82.7 USD
Spread / Average Target
+15.88%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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