Western Digital
WDC on Nasdaq. Western Digital sells data storage devices to cloud, business, and consumer customers. Market value $159.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.37 of spare cash in the past 12 months. A savings account pays about $4.
You pay 33.2 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 11 cents a year. Above 10 is good.
Quality score: 63 of 100. Price score: 46 of 100. Our list needs 70 on quality and 60 on price.
$411.04 a share, 265% above its 1-year low
Over the past year the price has ranged from $112.52 to $799.87.
Dividend: 0.1% a year
Paid every year for 2 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $18.8bn | $6.3bn | $6.3bn | $9.5bn | $12.9bn |
| Operating margin | |||||
| Operating margin | 12.7% | -8.8% | -6.4% | 24.5% | 34.5% |
| Debt to equity | |||||
| Debt to equity | 0.57 | 0.64 | 0.69 | 0.89 | 0.12 |
| Shares outstanding | |||||
| Shares outstanding | 0.32bn | 0.33bn | 0.35bn | 0.34bn | 0.36bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Warning signs
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)No
- Debt0.12× equity
- Revenue growth, five yearsShrinking, 5.3% a year
- Buying back its own sharesNo, 13% more shares since 2022
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $3.7 billion last quarter, up 44% on a year ago.
- Profit: $3.2 billion, up 1033% on a year ago.
- It keeps 34 cents of each $1 of sales as operating profit, up from 25 cents a year earlier.
- Spare cash over the past 12 months: $3.5 billion, up from $1.3 billion.
- It has $527 million more cash than debt. A year ago debt was $2.6 billion more than cash.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $2.2bn |
| December 2024 | $2.4bn |
| March 2025 | $2.3bn |
| June 2025 | $2.6bn |
| September 2025 | $2.8bn |
| December 2025 | $3.0bn |
| March 2026 | $3.3bn |
| June 2026 | $3.7bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $493m |
| December 2024 | $594m |
| March 2025 | $520m |
| June 2025 | $282m |
| September 2025 | $1.2bn |
| December 2025 | $1.8bn |
| March 2026 | $3.2bn |
| June 2026 | $3.2bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 5 November 2026
- Last annual report (10-K)
- 14 August 2026
- Next quarterly (estimated, 10-Q)
- 31 July 2026
Who owns it
3 long-term investors we follow own it, up from 2 last quarter. 1,846 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $107m | 0.2% | Cut |
| LSV Asset ManagementJosef Lakonishok | $21m | <0.1% | Cut |
| Oasis ManagementSeth Fischer | $383,232 | <0.1% | New |
Largest holders overall
- BlackRock$21.0bnCut
- FMR$16.6bnCut
- Vanguard Capital Management$14.4bnAdded
- JPMorgan Chase$11.1bnCut
- Capital World Investors$10.6bnAdded
- State Street$10.4bnAdded
- Invesco$9.2bnAdded
- Vanguard Portfolio Management$8.4bnCut
- Geode Capital Management$5.4bnCut
- Morgan Stanley$5.2bnAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- FMR LLCPassive investorat least 7.2%−2.9 pts(filed with 1 related holder)Since 30 June 2026
- JPMORGAN CHASE & CO.Passive investor5.3%−1.4 ptsSince 31 March 2025
- Vanguard Portfolio ManagementPassive investorSold down below 5%Since 30 June 2026
- MANAGED ACCOUNT ADVISORS LLCPassive investorSold down below 5%Since 31 December 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
FMR LLC Passive investor | at least 7.2%−2.9 pts (filed with 1 related holder) | 30 June 2026 | |
JPMORGAN CHASE & CO. Passive investor | 5.3%−1.4 pts | 31 March 2025 | |
Vanguard Portfolio Management Passive investor | Sold down below 5% | 30 June 2026 | |
MANAGED ACCOUNT ADVISORS LLC Passive investor | Sold down below 5% | 31 December 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 10 sold $75m, $56m of it under preset trading plans.
- Tregillis Cynthia LChief Legal Officer & Corp SecSoldunder a preset trading plan
- Date
- 4 September 2026
- Shares
- 432
- Price
- $451.20
- Value
- $194,918
- Gubbi Vidyadhara KChief of Global OperationsSold
- Date
- 4 September 2026
- Shares
- 1,795
- Price
- $459.87
- Value
- $825,472
- STREETER STEPHANIE ADirectorSold
- Date
- 1 September 2026
- Shares
- 1,600
- Price
- $455.00
- Value
- $728,000
- STREETER STEPHANIE ADirectorSold
- Date
- 31 August 2026
- Shares
- 4,000
- Price
- $447.82
- Value
- $2m
- Tregillis Cynthia LChief Legal Officer & Corp SecSoldunder a preset trading plan
- Date
- 27 August 2026
- Shares
- 1,007
- Price
- $478.36
- Value
- $481,709
- Tregillis Cynthia LChief Legal Officer & Corp SecSoldunder a preset trading plan
- Date
- 26 August 2026
- Shares
- 476
- Price
- $450.78
- Value
- $214,571
- Tregillis Cynthia LChief Legal Officer & Corp SecSoldunder a preset trading plan
- Date
- 24 August 2026
- Shares
- 684
- Price
- $446.17
- Value
- $305,180
- Tregillis Cynthia LChief Legal Officer & Corp SecSoldunder a preset trading plan
- Date
- 21 August 2026
- Shares
- 235
- Price
- $477.27
- Value
- $112,158
- Tan IrvingChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 11 August 2026
- Shares
- 20,000
- Price
- $444.97
- Value
- $9m
- Cole Martin IDirectorSoldunder a preset trading plan
- Date
- 28 July 2026
- Shares
- 192
- Price
- $462.77
- Value
- $88,852
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 4 September 2026 | Tregillis Cynthia L Chief Legal Officer & Corp Sec | Sold under a preset trading plan | 432 | $451.20 | $194,918 |
| 4 September 2026 | Gubbi Vidyadhara K Chief of Global Operations | Sold | 1,795 | $459.87 | $825,472 |
| 1 September 2026 | STREETER STEPHANIE A Director | Sold | 1,600 | $455.00 | $728,000 |
| 31 August 2026 | STREETER STEPHANIE A Director | Sold | 4,000 | $447.82 | $2m |
| 27 August 2026 | Tregillis Cynthia L Chief Legal Officer & Corp Sec | Sold under a preset trading plan | 1,007 | $478.36 | $481,709 |
| 26 August 2026 | Tregillis Cynthia L Chief Legal Officer & Corp Sec | Sold under a preset trading plan | 476 | $450.78 | $214,571 |
| 24 August 2026 | Tregillis Cynthia L Chief Legal Officer & Corp Sec | Sold under a preset trading plan | 684 | $446.17 | $305,180 |
| 21 August 2026 | Tregillis Cynthia L Chief Legal Officer & Corp Sec | Sold under a preset trading plan | 235 | $477.27 | $112,158 |
| 11 August 2026 | Tan Irving Chief Executive Officer, Director | Sold under a preset trading plan | 20,000 | $444.97 | $9m |
| 28 July 2026 | Cole Martin I Director | Sold under a preset trading plan | 192 | $462.77 | $88,852 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 5.3% a year.
- Its accounts show patterns that sometimes come before companies have to correct past results (Beneish score).
- Profits run ahead of cash.
- It isn't cheap on profits: 33.2× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.