Western Digital Corporation (WDC)

NASDAQ: WDC · USD

$397

+15.88 (+4.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-30

Our latest published analysis: WDC rated Sell

Western Digital Corporation's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$215 / share

Potential value

$379 / share

Upside to FV

-52.7%

from $397

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$163.5B
Revenue (ttm)	14.5B
Net income (ttm)	9.9B
EPS (ttm)	$25.8
Shares out	374.3M
P/E (trailing)	15.4x
P/E (forward)	22.8x
Dividend	$0.70 (0.18%)
Volume	6,552,757
Beta	2.17

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 14.5B
Net income (ttm): 9.9B
EPS (ttm): $25.8
P/E (trailing): 15.4x
P/E (forward): 22.8x
Market cap: $163.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-07-01	2023-06-30	2024-06-28	2025-06-27	2026-07-03	Trend
Revenue	$18.79B	$6.26B	$6.32B	$9.52B	$12.92B	-8.9%
Gross profit	$5.87B	$1.39B	$1.77B	$3.69B	$6.31B	+1.8%
Operating income	$2.39B	$-548.0M	$-403.0M	$2.33B	$4.45B	+16.8%
Net income	$1.55B	$-1.68B	$-798.0M	$1.89B	$9.42B	+57.1%
EPS (diluted)	$4.89	$-5.37	$-2.61	$5.12	$24.28	+49.3%
EBITDA	$3.40B	$289.0M	$243.0M	$1.94B	$10.28B	+31.8%
R&D	$2.32B	$986.0M	$950.0M	$994.0M	$1.16B	-15.9%
SG&A	$1.12B	$807.0M	$726.0M	$568.0M	$551.0M	-16.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	보유
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	보유
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	매도
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	보유
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수

Base and Bull scenarios

Base50%

Price target

$214.67

-52.7% from spot

Western Digital executes a powerful cyclical recovery through FY2027 and FY2028, with revenue expanding to $19,191.86M (+48.56%) in FY2027 and $26,249.65M (+36.77%) in FY2028, supported by volume delivery of 40TB ePMR drives. Operating margins peak at 30.0% in FY2028 before moderating to 25.0% in FY2029 and normalizing toward 18.0% in FY2030-FY2031 as hyperscalers enter a scheduled capacity digestion phase (-10.0% revenue contraction in FY2030),. Intrinsic Fair value synthesizes at $214.67, indicating that shares traded at $453.48 substantially discount full-cycle reality.

House forecast revenue schedule: FY2027 $19,192M (+48.56%), FY2028 $26,250M (+36.77%), FY2029 $27,562M (+5.0%), FY2030 $24,806M (-10.0%), FY2031 $25,302M (+2.0%).
Operating margin trajectory: FY2027 28.0%, FY2028 30.0%, FY2029 25.0%, FY2030 18.0%, FY2031 18.0%.
Cost of equity of 12.42% and WACC of 12.37%.
Terminal exit multiple of 15.0x aligned with peer STX (16.42x) and WDC historical trailing multiple (16.97x),.
Terminal growth rate of 2.0%.

Bull15%

Price target

$378.57

-16.5% from spot

Cloud hyperscalers accelerate exabyte procurement for generative AI training and inference infrastructure buildouts, sustaining elevated gross margins and extending the nearline HDD upcycle through calendar 2031. Volume production of 40TB ePMR drives and UltraSMR platforms expands to over 60% of nearline exabyte shipments, sustaining incremental gross margins above 80%. Revenue approaches the upper consensus estimate of $34,240M in FY2028, driving operating margins above 35% and generating substantial free cash flow that funds aggressive share repurchases.

FY2027 revenue growth of 48.56% ($19,191.86M) and FY2028 revenue growth of 36.77% ($26,249.65M) reaching consensus high of $34,240M.
Operating margin sustains 30.0% to 35.0% through FY2029 driven by 40TB ePMR mix and disciplined duopoly pricing.
Nearline exabyte shipment growth accelerates above 25% annually through calendar 2029.
Terminal exit multiple expands significantly above historical averages under extended secular AI growth assumptions.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($214.67). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.0%	1.5%	2.0%	2.5%	3.0%
10.9%	$229	$234	$239	$245	$252
11.7%	$218	$223	$227	$232	$237
12.4%	$209	$213	$215	$220	$225
13.2%	$201	$204	$207	$210	$214
13.9%	$193	$196	$199	$202	$205

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E22.8

P25 n/aP50 n/aP75 n/a

Trailing P/E17

P25 n/aP50 n/aP75 n/a

ROE129.6

P25 n/aP50 n/aP75 n/a

ROIC64.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All WDC indicators

Market & fundamental data

Available fields

290

Groups with data

Currency

USD

Showing 290 of 290 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000106040
Company name	Western Digital Corporation
Country	United States
Country code	US
CUSIP number	958102105
Earnings date	2026-10-22
Earnings time	amc
Employees	40,000
Employees change	0
Employees growth	0%
Enterprise value	$148.1B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-10-02
First seen	2026-05-09
Fiscal year end	July
Founded	1970
In index	SP500, NASDAQ100
Industry	Computer Hardware
Is primary listing	Yes
Is SPAC	No
ISIN number	US9581021055
Last 10-K release date	2026-08-14
Last earnings date	2026-10-22
Last refreshed	2026-10-28
Last stock split date	1997-06-04
Last stock split type	Forward
Market cap	$148.5B
Market cap category	Large-Cap
Next earnings date	2027-01-28
Options	Yes
Price	$396.77
Price currency	USD
Sector	Technology
SIC code	3572
Stock price date	2026-10-28
Symbol	WDC
U.S. state	California
Website	https://www.westerndigital.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	30.4x
Average P/E ratio (10Y)	34.72x
Average P/E ratio (3Y)	21.73x
Average P/E ratio (5Y)	17.98x
Earnings yield	6.5%
EV/Earnings	14.82x
EV/EBIT	24.81x
EV/EBITDA	23.28x
EV/FCF	34.26x
EV/Sales	10.15x
FCF / EV yield	2.92%
FCF yield	2.91%
Forward EV/Sales	6.26x
Forward P/E	13.74x
Forward P/S	6.28x
Graham number	120.38775
Graham upside	-69.41%
Industry forward P/E	13.8x
Industry P/E	27.32x
Lynch fair value	$644.28
Lynch upside	63.71%
P/(FCF - SBC) ratio	36.29x
P/(OCF - SBC) ratio	31.81x
P/B ratio	15.24x
P/E ratio	15.4x
P/FCF ratio	34.35x
P/OCF ratio	30.31x
P/S ratio	10.17x
PEG ratio	0.17x
Price / tangible book value	29.31x
Price/EBITDA ratio	23.34x
Sector forward P/E	18.38x
Sector P/E	32.76x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	40.89%
EBITDA margin	43.59%
Effective tax rate	5.52%
FCF margin	29.62%
Gross margin	52.6%
Operating margin	40.89%
Pretax margin	73.24%
Profit margin	69.2%
Profit per employee	$247,825
Profitable quarters	11
Profitable years	2
Revenue per employee	$362,050
ROA	25.88%
ROA (5Y)	6.69%
ROCE	58.35%
ROE	129.6%
ROE (5Y)	29.99%
ROIC	64.19%
ROIC (5Y)	16.13%
SBC / revenue	1.59%
Tax / revenue	4.04%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	273.33%
EPS growth (Q)	50.86%
EPS growth (QoQ)	-43.58%
EPS growth 5Y	40.07%
EPS growth quarters	12
EPS growth years	3
FCF growth	121.08%
FCF growth (Q)	129.88%
FCF growth (QoQ)	7.49%
FCF growth 5Y	33.75%
Gross profit growth	85.22%
Gross profit growth (Q)	106.52%
Gross profit growth 3Y	96.44%
Gross profit growth 5Y	7.59%
Net income growth	288.71%
Net income growth (Q)	50.51%
Net income growth (QoQ)	-44.06%
Net income growth 5Y	46.06%
Net income growth quarters	12
Net income growth years	3
OCF growth	108.72%
OCF growth (Q)	138.69%
OCF growth (QoQ)	15.48%
OCF growth 10Y	9.98%
OCF growth 5Y	18.78%
Operating income growth	128.43%
Operating income growth (Q)	162.77%
Operating income growth 5Y	25.67%
Revenue growth	43.02%
Revenue growth (Q)	55.47%
Revenue growth (QoQ)	16.92%
Revenue growth 10Y	0.09%
Revenue growth 3Y	8.52%
Revenue growth 5Y	-4.31%
Revenue growth quarters	7
Revenue growth years	3

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-572M
Depreciation and amortization	$391M
EBIT	$5.9B
EBITDA	$6.3B
EPS	$25.77
FCF per share	$11.46
Financing cash flow	$-5B
Free cash flow	$4.3B
Free cash flow minus SBC	$4.1B
Gross profit	$7.6B
Income taxes	$585M
Investing cash flow	$-597M
Net borrowing	$-1.2B
Net cash flow	$-734M
Net income	$9.9B
Operating cash flow minus SBC	$4.6B
Operating income	$5.9B
Revenue	$14.5B
Stock-based compensation	$230M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	18.28
Book value per share	$24.99
Debt / EBITDA	0.15
Debt / equity	0.1
Debt / FCF	0.21
Goodwill	$4.3B
Interest coverage	50.61
Long-term assets	$8.4B
Long-term liabilities	$799M
Net cash (debt)	$392M
Net cash / market cap	0.27%
Net debt / EBITDA	-0.06
Net debt / equity	-0.04
Net debt / FCF	-0.09
Piotroski F-Score	6
Property, plant and equipment	$2.7B
Shareholders' equity	$9.3B
Tangible book value	$5B
Tangible book value per share	$13.44
Total assets	$14.2B
Total cash	$1.3B
Total debt	$922M
Total liabilities	$4.9B
WACC	16.15%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	1.01
Current assets	$5.9B
Current liabilities	$4.1B
Current ratio	1.43
Inventory turnover	4.33
Net working capital	$1.3B
Quick ratio	0.87
Working capital	$1.8B
Working capital turnover	10.06

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-5.84%
Dividend growth	84.62%
Dividend growth (10Y)	-11.34%
Dividend growth (3Y)	81.71%
Dividend growth (5Y)	-21.4%
Dividend growth years	0
Dividend payment date	2026-12-17
Dividend payment years	2
Dividend payout frequency	Quarterly
Dividend per share	$0.70
Dividend yield	0.18%
Ex-dividend date	2026-12-04
FCF payout ratio	5.24%
Last dividend	$0.18
Payout ratio	2.33%
Shareholder yield	-5.66%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	562.62%
10Y return CAGR	25.78%
10Y total return	890.6%
150-day SMA	$466.69
15Y price change	1,339.79%
15Y return CAGR	23.55%
15Y total return	2,285.12%
1D price change	4.17%
1M price change	-13.58%
1M total return	-13.58%
1W price change	8.36%
1W total return	8.36%
1Y price change	211.67%
1Y return CAGR	212.49%
1Y total return	212.25%
20-day SMA	$383.57
200-day SMA	$417.31
20Y price change	2,082.37%
20Y return CAGR	19.65%
20Y total return	3,515.25%
3M price change	-20.71%
3M total return	-20.69%
3Y price change	913.06%
3Y return CAGR	137.9%
3Y total return	1,247.27%
50-day SMA	$424.82
50-day SMA vs 200-day SMA	50over200
52-week high	$799.87
52-week high date	2026-06-18
52-week low	$121.85
52-week low date	2025-10-28
5Y price change	611.59%
5Y return CAGR	56.76%
5Y total return	846.34%
6M price change	-1.48%
6M total return	-1.42%
After-hours change	0.19%
After-hours close	$396.77
After-hours price	$397.52
All-time high	$799.87
All-time high date	2026-06-18
All-time low	$1.00
All-time low date	1991-12-12
Average true range (ATR)	$25.04
Average volume	10.1M
Beta (1Y)	2.38
Beta (2Y)	2.35
Beta (5Y)	2.17
Change from 52-week high	-50.4%
Change from 52-week low	225.62%
Change from all-time high	-50.64%
Change from all-time low	39,379%
Change from open	3.06%
Day's gap	1.08%
Dollar volume	$2.6B
High price	$397.14
Low price	$375.00
Monthly RSI	61.23
Open price	$384.99
Position in 52-week range	98.33%
Premarket change	1.26%
Premarket close	$380.88
Premarket price	$385.67
Premarket volume	249.2K
Previous close	$380.88
Price vs 150-day SMA	-15.41%
Price vs 20-day SMA	2.92%
Price vs 200-day SMA	-5.4%
Price vs 50-day SMA	-7.07%
Relative volume	0.65
RSI	50.16
Sharpe ratio	1.76
Sharpe ratio (3Y)	1.66
Sharpe ratio (5Y)	1.03
Sortino ratio	2.82
Sortino ratio (3Y)	2.66
Sortino ratio (5Y)	1.68
Volume	6.6M
Weekly RSI	47.79
YTD price change	129.17%
YTD total return	129.41%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	371.9M
Float percentage	99.36%
Shares change (QoQ)	-1.29%
Shares change (YoY)	5.84%
Shares held by insiders	0.51%
Shares held by institutions	87.81%
Shares outstanding	374.3M
Short % of float	5.23%
Short % of shares	5.2%
Short ratio	2.8 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	1,238

Deeper analysis on WDC

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this WDC report

What is the latest published WDC stock rating?

Western Digital Corporation is shown with Sell in the latest published report, analyzed 2026-09-30. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full WDC analysis?

The full latest published report, analyzed 2026-09-30, lives at /stocks/WDC/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for WDC?

The latest published report analyzed 2026-09-30 gives WDC a fair value of USD 215 and a potential value of USD 379. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the WDC page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-30). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellWDC · Fair value $215-52.7%

Read full analysis →

Western Digital Corporation (WDC)

Our latest published analysis: WDC rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · WDC

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All WDC indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on WDC

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	7.5
Balance Sheet	7.0
Profitability	8.5
Revenue Growth	9.0
Risk Assessment	6.5
Competitive Moat	6.5
Earnings Quality	4.5
Capital Efficiency	8.5