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NASDAQ NMS - GLOBAL MARKET · Technology · CIK 0000106040
$354.19
-6.43% · delayed ~15 min
Last price from Oct 22, 2026
$127.86B market value
From WESTERN DIGITAL CORP's FY2026 10-K, filed Aug 14, 2026 · read the filing
WESTERN DIGITAL makes computers and computing hardware. It took in $12.92B last year, which makes it a large company. Of every dollar it sells, about 73 cents is left as profit.
The financial picture is led by profitability, growth and debt, while accounting remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Its accounting patterns resemble those of companies that later restated earnings. This is a statistical screen, not evidence of wrongdoing.
Beneish M-Score -0.19, above the −1.78 threshold
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Strong finances across the board.
From WESTERN DIGITAL CORP's FY2026 annual filing · share price scored separately
Largest year-over-year changes in FY2026
Gross profit
$3.69B → $6.31B
Operating income
$2.33B → $4.45B
Profit
$1.89B → $9.42B
Gross margin
38.8% → 48.9%
Measured against FY2025, from the 10-K filed Aug 14, 2026
Improved: +70.9%
$3.69B to $6.31BCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +90.8%
$2.33B to $4.45BCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +398.9%
How the latest move compares (quote delayed ~15 min), and what was published around it
WDC fell 6.43% on the latest quote. The average Technology company tracked here moved −1.22%, and the S&P 500 −1.04%. That is 5.2 points below its sector and 5.4 points below the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 14% a year for the next 10 years. Over the last 10 years it grew by about 10% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 73 cents of every dollar of sales as profit, earning $9.42B last year.
Yes, quickly. Sales grew 35.7% last year.
No — it holds more cash than debt, with $527.0M left over after paying off every borrowing. For every $1 it owes, it owns $2.77 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 2 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 4% of the cash its operations generated.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2026 annual filing
Last year it earned $9.42B and generated $3.93B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202610-K · Aug 14, 2026Filing for FY2026 | FY202510-K · Aug 14, 2026Filing for FY2025 | FY202410-K · Aug 14, 2026Filing for FY2024 | FY202310-K · Aug 14, 2025Filing for FY2023 | FY202210-K · Aug 20, 2024Filing for FY2022 | ChangeFY2026 vs FY2025 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $12.92B | $9.52B | $6.32B | $6.25B | $18.79B | +35.7% |
| Cost of revenue | $6.61B | $5.83B | $4.54B | $4.86B | $12.92B | +13.4% |
| Gross profit | $6.31B | $3.69B | $1.77B | $1.39B | $5.87B | +70.9% |
| Gross marginGross profit ÷ revenueWhat is this? | 48.9% | 38.8% | 28.1% | 22.2% | 31.3% | +10.1 pts |
| Selling, general and administrative | $551.0M | $568.0M | $726.0M | $807.0M | $1.12B | −3.0% |
| Operating income | $4.45B | $2.33B | -$403.0M | -$548.0M | $2.39B | +90.8% |
| Operating marginOperating income ÷ revenueWhat is this? | 34.5% | 24.5% | -6.4% | -8.8% | 12.7% | +10.0 pts |
| Interest expense | $165.0M | $357.0M | $414.0M | $312.0M | $304.0M | −53.8% |
| Income before tax | $9.90B | $1.13B | -$739.0M | -$849.0M | $2.17B | +776.5% |
| Net income | $9.42B | $1.89B | -$798.0M | -$1.68B | $1.55B | +398.9% |
| Net marginNet income ÷ revenueWhat is this? | 72.9% | 19.8% | -12.6% | -26.9% | 8.2% | +53.1 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $26.11 | $5.44 | $-2.33 | $-5.23 | $4.91 | +379.5% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| WDCWESTERN DIGITAL CORP · this page | 8.0/10 | 7/9 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Exercised stock options — 14 shares
Holds 111,044 shares after this filing.
Had shares withheld to cover taxes — 1,310 shares at $364.32 ($477.2K)
Holds 109,735 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Published results
Read the filingProxy statement for a shareholder meeting
Read the filingWrite down why you are following WESTERN DIGITAL CORP, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from WDC's 10-K for fiscal year 2026 (period ending 2026-07-03, filed Aug 14, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2026 | 8.0 | 7/9 | 10-K, filed Aug 14, 2026 |
| FY2025 | 10.0 | 7/9 | 10-K, filed Aug 14, 2025 |
| FY2024 | 5.0 | 5/9 | 10-K, filed Aug 20, 2024 |
| FY2023 | 4.0 | 2/9 | 10-K, filed Aug 20, 2024 |
| FY2022 | 8.0 | 7/9 | 10-K, filed Aug 25, 2022 |
| FY2021 | 8.0 | 7/9 | 10-K, filed Aug 27, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
7 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
18.48
In the safe zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-0.19
Above the threshold — worth a closer look
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2026 filing as filed with the SEC.
$1.89B to $9.42BCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +10.1 pts
38.8% to 48.9%Critical
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +10.0 pts
24.5% to 34.5%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +53.1 pts
19.8% to 72.9%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +174.5%
$1.28B to $3.51BCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: +379.5%
$5.44 to $26.11Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: turned negative
$2.48B to $0.00Critical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Changed: +295.5%
$44.0M to $174.0MCritical
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Improved: +35.7%
$9.52B to $12.92BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: -25.3%
$2.11B to $1.58BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +4.0%
347.0M to 361.0MNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
1 other measure barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 11% and 16%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 31 analysts covering this company, as of . Their views, not this site's.
Of 31 analysts publishing on this company, 7 say strong buy, 17 say buy and 7 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 5.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 18.9x — investors pay $18.9 for each $1 of trailing profit.
Some accounting patterns here resemble those found in companies that overstated earnings. This is a statistical flag, not evidence of wrongdoing — it is a prompt to read the filings closely.
| 35.7% |
| 72.9% |
| 13.57x |
| 0.56x |
| AAPLApple Inc. | 9.0/10 | 8/9 | 6.4% | 26.9% | 45.93x | 3.87x |
|---|
| DELLDell Technologies Inc. | 8.0/10 | 7/9 | 18.8% | 5.2% | 49.75x | -42.01x |
|---|
| HPEHewlett Packard Enterprise Co | 4.7/10 | 5/8 | 13.8% | 0.2% | 1282.91x | 2.07x |
|---|
| NTAPNetApp, Inc. | 9.0/10 | 8/9 | 5.4% | 18.4% | 32.64x | 6.95x |
|---|
| HPQHP INC | 6.0/10 | 5/9 | 3.2% | 4.6% | 12.29x | -121.72x |
|---|
| SMCISuper Micro Computer, Inc. | 7.3/10 | 2/8 | 77.8% | 5.7% | 9.93x | 1.07x |
|---|
| Median of peers | 7.7/10 | — | 10.1% | 5.5% | 39.29x | 1.57x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Sold on the open market — 807 shares at $380.00 ($306.7K)
Holds 108,928 shares after this filing.
Exercised stock options — 56 shares
Holds 163,758 shares after this filing.
Had shares withheld to cover taxes — 5,150 shares at $423.87 ($2.2M)
Holds 158,608 shares after this filing.
Exercised stock options — 57 shares
Holds 266,704 shares after this filing.
Had shares withheld to cover taxes — 1,091 shares at $441.36 ($481.5K)
Holds 265,613 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 807 shares ($306.7K) on or after .
Shares originally obtained via Restricted Stock.
Filed notice to sell 432 shares ($194.9K) on or after .
Shares originally obtained via Restricted Stock.
Filed notice to sell 1,795 shares ($825.5K) on or after .
Shares originally obtained via Restricted Stock.
Filed notice to sell 10,000 shares ($4.5M) on or after .
Shares originally obtained via Stock Award.
Filed notice to sell 1,007 shares ($481.7K) on or after .
Shares originally obtained via Restricted Stock.
Filed notice to sell 476 shares ($214.6K) on or after .
Shares originally obtained via Restricted Stock.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Made a Regulation FD disclosure · Reported another event
Sold shares outside a public offering
Read the filingSold shares outside a public offering · Reported another event
Read the filingAnnual report for FY2026
Revenue +35.7% · Operating margin +10.0 pts · Gross profit +70.9% — against FY2025
Read the filingPublished results
Read the filingReported another event
Read the filingSold shares outside a public offering
Read the filingSold shares outside a public offering · Reported another event
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingQuarterly report for Q3 FY2026
Revenue +45.5% · Operating margin +2.5 pts · Gross profit +83.8% — against Q3 FY2025
Read the filingPublished results
Read the filingAmended its charter or changed its financial year · Reported another event
Read the filingChanged the rights attached to its shares
Read the filingReported another event
Read the filingQuarterly report for Q2 FY2026
Revenue +25.2% · Operating margin +6.9 pts · Gross profit +52.1% — against Q2 FY2026
Read the filingPublished results
Read the filingHad a director or senior officer leave or join · Held a shareholder vote
Read the filingHad a director or senior officer leave or join
Read the filingPrimary sources and further research