Western Digital Corp.

Western Digital Corp.

WDC

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Market Cap$183.1B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Western Digital Corp.Western Digital Corp.28.30.08%67%17.50.2

Earnings Call Q3 2026

April 30, 2026 - AI Summary

Strong Revenue and Earnings Growth: Western Digital reported fiscal Q3 2026 revenue of $3.3 billion, representing a 45% year-over-year increase. Earnings per share reached $2.72, almost doubling compared to the previous year. The company delivered 222 exabytes to customers, a 34% increase year-over-year.
Gross Margin Expansion: Gross margin improved significantly to 50.5%, up 1,040 basis points year-over-year. This expansion was driven by a favorable product mix towards higher-capacity drives and an efficient pricing strategy. The company forecasts gross margin for Q4 2026 to be between 51-52%.
Long-term Exabyte Growth Forecast: Western Digital expects a long-term demand growth rate for data storage to exceed 25% CAGR, primarily driven by advancements in agentic AI and the expansion of physical AI technologies. This structural shift is anticipated to result in increased demand for HDDs due to persistent data generation needs.

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$467.16

Target Price by Analysts

21.4% downsideWestern Digital Target Price DetailsTarget Price
$-12.20

Current Fair Value

102.1% downside

Overvalued by 102.1% based on the discounted cash flow analysis.

Share Statistics

Market cap$183.10 Billion
Enterprise Value$182.83 Billion
Dividend Yield$0.45 (0.08%)
Earnings per Share$5.31
Beta2.16
Outstanding Shares345,000,000

Return

Return on Equity67.26%ROE
Return on Assets43.28%
Return on Invested Capital44.43%

Valuation & Multiples

P/E Ratio28.26P/E Ratio
PEG5.47PEG
Price to Sales17.47Price to Sales
Price to Book Ratio21.22Price to Book Ratio
Enterprise Value to Revenue15.52
Enterprise Value to EBIT39.54
Enterprise Value to Net Income28
Total Debt to Enterprise0.01
Debt to Equity0.18Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 6, 2026
EPS Estimate
$2.35
Average shareholder expectation
Revenue Estimate
$3.23 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 29, 2026
EPS Estimate
$3.28
Average shareholder expectation
Revenue Estimate
$3.68 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio2.1603 48.96%
Total Calls10,890,808 30.42%
Total Puts23,527,435 10.03%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %94.91% 2.01%
Total Invested$88.00B 51.83%
Investors Holding1,490 237.00%

ESG Score

No data

About Western Digital Corp.

61,800 employees
CEO: David Goeckeler

Western Digital creates environments for data to thrive. As a leader in data infrastructure, the company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Eve...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official revenue estimates and technical analysis for all tax legislation. Its work directly informs and influences corporate tax structures, capital investment credits, and the overall tax burden on industries like Western Digital, profoundly impacting its financial planning.

Finance

As the most powerful economic committee, it controls taxation and trade policy. Corporate tax rates, R&D credits, and tariffs on components or finished goods directly impact Western Digital's global manufacturing costs, profitability, and investment strategies.

Appropriations

This committee directly allocates discretionary federal spending. Its funding decisions for defense, scientific research, and government data center projects translate into significant contract opportunities and demand for Western Digital's data storage products and solutions.

Judiciary

This committee oversees antitrust laws and intellectual property. For a major tech manufacturer like Western Digital, policies on mergers and acquisitions, competitive practices, and the protection of intellectual property are critical to its strategic growth and market position.

Commerce, Science, and Transportation

This committee has vast jurisdiction over interstate commerce, telecommunications, and 'Big Tech' through privacy (e.g., data residency) and technology regulations. These policies directly impact the demand for and management of data, which is Western Digital's core business in data centers and devices.