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 29,335 27,998 28,418
P/E ratio -18.4 x -52.6 x 26.8 x 9.44 x -6.97 x -41.7 x 16.1 x 14.1 x
Yield 4.21% 3.4% - - - - - 2.73%
Capitalization / Revenue 0.84 x 0.79 x 1.29 x 0.75 x 0.99 x 1.81 x 1.35 x 1.29 x
EV / Revenue 1.27 x 1.18 x 1.61 x 1 x 1.39 x 2.27 x 1.62 x 1.58 x
EV / EBITDA 5,474,203 x 6,398,575 x 8,712,396 x 4,552,689 x 73,428,320 x - 6,905,721 x 8,143,111 x
EV / FCF 109 x 17.8 x 24.1 x 24.2 x -14.3 x -55.7 x 18.1 x 15.4 x
FCF Yield 0.91% 5.61% 4.15% 4.13% -6.99% -1.79% 5.53% 6.5%
Price to Book 1.39 x 1.39 x 2.04 x 1.16 x - 2.22 x 1.85 x 1.68 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: Giugno 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 16,569 16,736 16,922 18,793 12,318 12,895 17,281 18,002
EBITDA 3,836 3,088 3,118 4,115 234 - 4,054 3,490
EBIT 1 2,024 1,522 1,906 3,186 -594 401.9 3,623 2,836
Operating Margin 12.22% 9.09% 11.26% 16.95% -4.82% 3.12% 20.96% 15.75%
Earnings before Tax (EBT) 1 -287 -46 927 2,123 -1,560 -383 1,812 2,037
Net income 1 -754 -250 821 1,500 -1,730 -566 1,815 1,638
Net margin -4.55% -1.49% 4.85% 7.98% -14.04% -4.39% 10.5% 9.1%
EPS 2 -2.580 -0.8400 2.660 4.750 -5.440 -1.710 4.439 5.077
Free Cash Flow 1 192 1,108 1,126 773 -1,201 -526.3 1,547 1,848
FCF margin 1.16% 6.62% 6.65% 4.11% -9.75% -4.08% 8.95% 10.27%
FCF Conversion (EBITDA) 5.01% 35.88% 36.11% 18.78% - - 38.17% 52.95%
FCF Conversion (Net income) - - 137.15% 51.53% - - 85.28% 112.82%
Dividend per Share 2 2.000 1.500 - - - - - 1.950
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: June 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 3,713 4,181 4,524 4,451
EBITDA 1 1,202 1,124 866 923 523 95 -91 -293 -296 52 520 - 872 1,075 1,231
EBIT 1 952 882 650 702 307 -119 -304 -478 -443 -91 380 555.9 737.5 956.4 1,128
Operating Margin 18.85% 18.25% 14.84% 15.5% 8.22% -3.83% -10.85% -17.89% -16.11% -3% 10.99% 14.97% 17.64% 21.14% 25.34%
Earnings before Tax (EBT) 1 704 646 262 511 84 -385 -529 -730 -682 -240 178 118 - - -
Net income 1 610 564 25 301 27 -446 -581 -730 -700 -282 113 - 413.8 526.6 578
Net margin 12.08% 11.67% 0.57% 6.65% 0.72% -14.35% -20.73% -27.32% -25.45% -9.3% 3.27% - 9.9% 11.64% 12.99%
EPS 2 1.930 1.790 0.0800 0.9500 0.0800 -1.400 -1.820 -2.270 -2.170 -0.8700 0.3400 0.8300 0.5652 0.9019 1.219
Dividend per Share 2 - - - - - - - - - - - - 0.3000 0.2985 0.2970
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: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 7,067 6,527 5,355 4,695 5,047 6,038 4,701 5,120
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.842 x 2.114 x 1.717 x 1.141 x 21.57 x - 1.159 x 1.467 x
Free Cash Flow 1 192 1,108 1,126 773 -1,201 -526 1,547 1,848
ROE (net income / shareholders' equity) 13.3% 9.37% 6.94% 11.3% -9.91% -3.21% 19.5% 13.2%
ROA (Net income/ Total Assets) 5.14% 3.51% 3.17% 4.96% -6.83% -4.43% 5.34% 5.35%
Assets 1 -14,670 -7,116 25,897 30,237 25,344 12,771 33,993 30,608
Book Value Per Share 2 34.10 31.70 34.90 38.80 - 32.10 38.50 42.40
Cash Flow per Share 2 5.300 2.770 6.140 5.950 -1.280 1.720 10.40 9.530
Capex 1 1,355 647 1,003 1,107 807 324 1,155 1,368
Capex / Sales 8.18% 3.87% 5.93% 5.89% 6.55% 2.51% 6.69% 7.6%
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
OUTPERFORM
Number of Analysts
26
Last Close Price
71.36 USD
Average target price
81.1 USD
Spread / Average Target
+13.66%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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