Western Digital Corporation
Financial Performance
Western Digital Revenue & Financials
Revenue
$12.9B (FY2026)
Net Income
$9.3B
Employees
40,000
What is Western Digital's revenue?
Western Digital had $12.9B in revenue for fiscal year 2026, up 35.7% from 2025. Net income was $9.3B.
- Latest revenue
- $12.9B (FY2026)
- Year-over-year
- +35.7%
- Growth rate (CAGR)
- -1.1% over 11 years
- Peak revenue
- $20.6B (FY2018)
- Years of data
- 10
- Employees
- 40,000
- What is Western Digital's operating income?
- Western Digital reported operating income of $4.5B for fiscal year 2026. sec.gov
- How much profit does Western Digital make?
- Western Digital reported net income of $9.3B for fiscal year 2026. westerndigital.com
- How many employees does Western Digital have?
- Western Digital has about 40,000 employees.
Financial Analysis
Fiscal 2026 revenue rose 36% to $12.92 billion. GAAP gross margin widened to 48.9% from 38.8%, and GAAP operating income nearly doubled to $4.45 billion. GAAP diluted net income attributable to common shareholders was $9.30 billion, lifted by gains tied to the retained Sandisk stake; non-GAAP diluted EPS was $10.22 versus $5.02 a year earlier. In the fourth quarter, revenue reached $3.75 billion and GAAP gross margin was 54.1%. For the first quarter of fiscal 2027, the company guided to revenue of about $4.1 billion.
Revenue Trend Analysis
YoY Change
+35.7%
11-Year CAGR
-1.1%
Peak Year
2018
Trend
Consistent Growth
Western Digital Corporation has 10 full fiscal year figures on this page, compounding at -1.1% annually over 11 years. The most recent year saw a 35.7% increase versus the prior year. Annual revenue peaked in fiscal year 2018 at $20.6B. Of 8 comparable year-over-year steps, 6 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2026 | $12.9B | $4.5Bfiling | $9.3B | +35.7% | WD fiscal fourth quarter and fiscal year 2026 results release Fiscal year ended July 3, 2026. Revenue up 36%. Net income is GAAP diluted net income attributable to common shareholders; non-GAAP diluted EPS was $10.22. |
| FY2025 | $9.5B | $2.3Bfiling | $1.6B | — | WD fiscal fourth quarter and fiscal year 2026 results release Fiscal year ended June 27, 2025. Continuing operations basis (Sandisk reported as discontinued). Net income is GAAP diluted net income attributable to common shareholders. |
| FY2022 | $18.8B | $2.4Bfiling | $1.5B | +11.1% | Western Digital Form 10-K (SEC EDGAR) Fiscal year ended July 1, 2022. As reported, including the flash business. |
| FY2021 | $16.9B | $1.2Bfiling | $821M | +1.1% | Western Digital Form 10-K (SEC EDGAR) Fiscal year ended July 2, 2021. As reported, including the flash business. |
| FY2020 | $16.7B | $335Mfiling | -$250M | +1.0% | Western Digital Form 10-K (SEC EDGAR) Fiscal year ended July 3, 2020. As reported, including the flash business. |
| FY2019 | $16.6B | $87Mfiling | -$754M | -19.8% | Western Digital Form 10-K (SEC EDGAR) Fiscal year ended June 28, 2019. As reported, including the flash business. |
| FY2018 | $20.6B | $3.6Bfiling | $675M | +8.1% | Western Digital Form 10-K (SEC EDGAR) Fiscal year ended June 29, 2018. As reported, including the flash business. |
| FY2017 | $19.1B | $2Bfiling | $397M | +46.9% | Western Digital Form 10-K (SEC EDGAR) Fiscal year ended June 30, 2017. As reported, including the flash business. |
| FY2016 | $13B | $466Mfiling | $242M | -10.8% | Western Digital Corporation annual report (SEC EDGAR, filed 2017-08-29) Fiscal year ended 2016-07-01. Figure as presented in the annual report filed 2017-08-29. |
| FY2015 | $14.6B | $1.6Bfiling | $1.5B | — | Western Digital Corporation annual report (SEC EDGAR, filed 2016-08-29) Fiscal year ended 2015-07-03. Figure as presented in the annual report filed 2016-08-29. |
Click any row to see year details.
Western Digital Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2026ended Jul 3, 2026 | $3.9B | $418M | $13.9B | $5B | $8.9B | $3.5B | Form 10-K |
| FY2025ended Jun 27, 2025 | $1.7B | $412M | $14B | $8.5B | $5.3B | $1.3B | Form 10-K |
| FY2022ended Jul 1, 2022 | $1.9B | $1.1B | $26.3B | $14B | $12.3B | $758M | Form 10-K |
| FY2021ended Jul 2, 2021 | $1.9B | $1.1B | $26.1B | $15.4B | $10.8B | $752M | Form 10-K |
| FY2020ended Jul 3, 2020 | $824M | $647M | $25.7B | $16.1B | $9.6B | $177M | Form 10-K |
| FY2019ended Jun 28, 2019 | $1.5B | $876M | $26.4B | $16.4B | $10B | $671M | Form 10-K |
| FY2018ended Jun 29, 2018 | $4.2B | $835M | $29.2B | $17.7B | $11.5B | $3.4B | Form 10-K |
| FY2017ended Jun 30, 2017 | $3.4B | $578M | $29.9B | $18.4B | $11.4B | $2.9B | Form 10-K |
| FY2016ended Jul 1, 2016 | $2B | $584M | $32.9B | $21.7B | $11.1B | $1.4B | Form 10-K |
| FY2015ended Jul 3, 2015 | $2.2B | $612M | $15.2B | $6B | $9.2B | $1.6B | Form 10-K |
Keep researching Western Digital
Western Digital Revenue and Financial FAQ
What was Western Digital's revenue in fiscal year 2026?
In fiscal year 2026 (ended June 2026), Western Digital reported $12.919 billion in revenue from continuing operations, fueled by surging cloud hyperscale demand for high-capacity nearline drives.
How did non-GAAP gross margins perform following the Sandisk split?
With volatile flash memory removed from its results, Western Digital's pure-play HDD gross margins expanded toward 35%–38%, driven by structural nearline pricing discipline and higher factory utilization.
How did Western Digital monetize its retained stake in Sandisk?
Following the spin-off, Western Digital retained an initial equity stake in Sandisk Corporation, which it systematically monetized in 2026 to retire long-term debt and fund share repurchases.
What is Western Digital's balance sheet debt and leverage profile?
The corporate spin-off transferred substantial funded debt to Sandisk; combined with secondary stake sales, Western Digital lowered its net leverage ratio well below 1.5x EBITDA.
What are total exabytes shipped and why is it a primary financial metric?
Exabytes shipped measures total digital storage capacity delivered to customers; quarterly nearline exabyte growth is the direct driver of Western Digital's revenue and gross profit.
What is Western Digital's capital expenditure intensity as an HDD pure-play?
Because HDD manufacturing utilizes mature tooling compared to capital-intensive semiconductor wafer fabs, Western Digital's annual capex is modest (around 4%–6% of revenue), generating robust free cash flow.
Does Western Digital pay a dividend or repurchase shares?
After prioritizing balance sheet deleveraging following the split, Western Digital reactivated aggressive share repurchase authorizations to return surplus cash flow to shareholders.
How did AI workloads impact Western Digital's financial recovery in 2025–2026?
The explosion of generative AI workloads triggered massive demand for secondary nearline data storage to retain multimodal training datasets, driving enterprise HDD shipments to multi-year highs.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Western Digital Revenue & Financials." CorpDigest, https://corpdigest.com/company/western-digital/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Western Digital reported $12.9B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/western-digital/financials" target="_blank" rel="noopener">CorpDigest — Western Digital financials</a></div>Related Financial Audits
Compare revenue, net income, and market cap scale
Explore Western Digital
Core profile pages, founders and related research hubs for this company.