Western Digital (WDC) stock
Information Technology · Technology Hardware, Storage & Peripherals
Western Digital (WDC) is a Technology Hardware, Storage & Peripherals company in the Information Technology sector, headquartered in San Jose, California. As of October 23, 2026, WDC closed at $343.67, a market capitalization of $128.64 billion, the 95th largest company in the S&P 500. Over the last twelve months it generated $14.48 billion in revenue (+56% year over year) and $3.51 billion in free cash flow. The stock trades at 12.1x trailing earnings and 8.7x forward earnings.
- 1-year total return: +173.9% (dividends reinvested)
- 5-year return: +51.6% a year
- 52-week range: $121.85 – $799.87
- Gross margin 52.6%, operating margin 47.7%
- Dividend yield: 0.20%
- FI Handbook report card: A- across 10 metrics
- 30th largest of 75 Information Technology stocks in the S&P 500
WDC price chart
1Y price change: +173.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| WDC | -27.4% | +99.7% | +173.9% | +121.9% | +51.6% | +25.5% | +13.9% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1978.
WDC key statistics
- Market cap
- $128.6B
- #95 in S&P 500
- P/E (TTM)
- 12.1x
- Forward P/E
- 8.7x
- EPS (TTM)
- $28.43
- Revenue (TTM)
- $14.5B
- +56%
- Free cash flow
- $3.5B
- Gross margin
- 52.6%
- Operating margin
- 47.7%
- Return on equity
- 129.6%
- Dividend yield
- 0.20%
- 52-week range
- $121.85 – $799.87
- Beta
- 2.17
- Price / sales
- 8.9x
- EV / EBITDA
- 20.3x
- Debt / equity
- 0.10x
- Employees
- 40,000
WDC report card
A-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth55.5%A
- Gross margin52.6%B
- Operating margin47.7%A
- FCF margin24.2%B
- Return on equity129.6%A
- Net debt / EBITDA-0.1xA
- Forward P/E8.7xA
- PEG ratio0.8xA
- Shareholder yield2.2%C
- Share count change / yr-1.3%B
Western Digital financials
Revenue went from $19.1B in fiscal 2017 to $12.9B in fiscal 2026, shrinking 4.2% a year.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.1B | $20.6B | $16.6B | $16.7B | $16.9B | $18.8B | $6.3B | $6.3B | $9.5B | $12.9B |
| Gross profit | $6.1B | $7.7B | $3.8B | $3.8B | $4.5B | $5.9B | $1.4B | $1.8B | $3.7B | $6.3B |
| Operating income | $2.0B | $3.6B | $87.0M | $335.0M | $1.2B | $2.4B | -$548.0M | -$403.0M | $2.3B | $4.5B |
| Net income | $397.0M | $675.0M | -$754.0M | -$250.0M | $821.0M | $1.5B | -$1.7B | -$798.0M | $1.9B | $9.4B |
| EPS (diluted) | $1.01 | $1.66 | $-1.95 | $-0.63 | $2.01 | $3.70 | $-5.37 | $-2.61 | $5.12 | $24.28 |
| Free cash flow | $2.9B | $3.4B | $671.0M | $177.0M | $752.0M | $758.0M | -$1.2B | -$781.0M | $1.3B | $3.5B |
| Buybacks | $0 | $591.0M | $563.0M | $0 | $0 | — | $0 | $0 | $149.0M | $2.6B |
| Dividends paid | $574.0M | $593.0M | $584.0M | $595.0M | $0 | $0 | $0 | $0 | $44.0M | $174.0M |
| Diluted shares | 391.6M | 406.2M | 386.3M | 394.3M | 408.8M | 418.1M | 318.0M | 326.0M | 359.0M | 383.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into WDC?
A reverse DCF asks what growth the current price requires. With an enterprise value of $128.3B and $3.5B of trailing free cash flow, Western Digital needs to grow free cash flow about 26.1% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 36.1% a year over the last five years.
P/E ratio history
Current 14.2x vs. median 15.5x (10th–90th percentile 5.9x–64.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
WDC dividend
- Dividend yield
- 0.20%
- Annual dividend
- $0.70
- Years of increases
- —
- 5-yr dividend growth
- -26.5%
- per year
- Payout ratio
- 2%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
WDC analyst price targets
24 analysts' average 12-month target is $610.04 (+78% vs. $343.67). Targets range from $405.00 to $900.00. 81% rate it a buy.
WDC earnings
Next report: February 4, 2027. Western Digital has beaten EPS estimates 7 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 22, 2026 | $4.10 | $4.64 | +13.2% |
| Aug 5, 2026 | $3.30 | $3.56 | +7.9% |
| Apr 30, 2026 | $2.39 | $2.72 | +13.6% |
| Jan 29, 2026 | $1.93 | $2.13 | +10.5% |
| Oct 30, 2025 | $1.58 | $1.78 | +12.9% |
| Jul 30, 2025 | $1.48 | $1.66 | +12.1% |
| Apr 30, 2025 | $1.11 | $1.36 | +22.7% |
| Jan 29, 2025 | $1.82 | $1.77 | -2.7% |
Stocks like WDC
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 AAPL Apple | -0.14% | +34% | $5.1T | 39.9x | Compare |
 DELL Dell Technologies | +0.77% | +199% | $290.2B | 26.5x | Compare |
 SNDK Sandisk | -1.82% | +641% | $178.9B | 16.8x | Compare |
 STX Seagate Technology | -1.81% | +180% | $143.4B | 45.4x | Compare |
 HPE Hewlett Packard Enterprise Comp | +2.20% | +149% | $75.3B | 29.2x | Compare |
 NTAP NetApp | +1.40% | +86% | $42.3B | 30.4x | Compare |
 P Everpure | +1.76% | +32% | $41.1B | 168.9x | Compare |
 HPQ HP | -0.36% | +27% | $30.3B | 12.8x | Compare |
WDC news
- Why Western Digital's AI Storage Boom Defies the Chip Sell-Off · Oct 24, 2026
- Western Digital Stock Has Fallen 53% Since June. I'd Consider a Small Position After Its Latest Report. · Oct 24, 2026
- Western Digital Earnings Fail to Get Stock Back on Track · Oct 23, 2026
- Western Digital Stock Pullback Despite Fiscal Q1 Beat Reflects AI Capex Concerns, Wedbush Says · Oct 23, 2026
- Memory, Storage Stocks Rebound After Western Digital Earnings Land · Oct 23, 2026
WDC stock FAQ
What is WDC's market cap?
Western Digital's market capitalization is $128.64 billion as of October 23, 2026, ranking 95th in the S&P 500.
What is WDC's P/E ratio?
WDC trades at a trailing price-to-earnings ratio of 12.1x and a forward P/E of 8.7x. Its median P/E over the period we track is 15.5x.
Does WDC pay a dividend?
Yes. Western Digital pays $0.70 per share a year, a 0.20% yield. Dividends fell 26.5% a year over the last five years.
How much has WDC stock returned?
Including reinvested dividends, WDC returned +173.9% over one year, +51.6% a year over five years, +25.5% a year over ten years through October 23, 2026.
Is WDC stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Western Digital must grow free cash flow about 26% a year for the next decade. Its free cash flow grew 36% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the WDC price target?
24 analysts cover WDC with an average 12-month price target of $610.04, +78% from the current price. 81% of them rate it a buy.
When does WDC report earnings?
Western Digital is expected to report earnings on February 4, 2027. It has beaten EPS estimates 7 quarters in a row.
How many employees does Western Digital have?
Western Digital has about 40,000 full-time employees, or $362,050 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology