Western Digital Corporation
TechnologyNASDAQ:WDC · NASDAQ Global Select
+$39.13 today
Vol 3.87M · Avg 7.78M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$11.8B of revenue converted into $6.5B of net income for the selected period. Gross margin is 45.1% and net margin is 52.2%, showing how much revenue survives after costs and taxes. EPS is $17.08, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.5B +50.7% | $6.3B +1.0% | $6.3B -66.7% | $18.8B +11.1% | $16.9B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $5.8B +28.3% | $4.5B -6.6% | $4.9B -62.4% | $12.9B +4.2% | $12.4B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $3.7B +108.2% | $1.8B +27.5% | $1.4B -76.3% | $5.9B +29.9% | $4.5B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 38.8% +10.7pp | 28.1% +5.8pp | 22.2% -9.0pp | 31.3% +4.5pp | 26.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $994.0M +4.6% | $950.0M -3.7% | $986.0M -57.6% | $2.3B +3.6% | $2.2B | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $568.0M -21.8% | $726.0M -10.0% | $807.0M -27.8% | $1.1B +1.1% | $1.1B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $1.4B -37.6% | $2.2B +12.2% | $1.9B -44.3% | $3.5B +5.5% | $3.3B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $451.0M -20.6% | $568.0M -31.4% | $828.0M -10.9% | $929.0M -23.3% | $1.2B | $374.2M | $1.2B | $631.8M |
| EBITDA | $1.9B +697.5% | $243.0M -15.9% | $289.0M -91.5% | $3.4B +38.1% | $2.5B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 20.4% +16.5pp | 3.8% -0.8pp | 4.6% -13.5pp | 18.1% +3.5pp | 14.6% | 5.6% | 46.3% | 42.0% |
| Operating Income | $2.3B +679.2% | -$403.0M +26.5% | -$548.0M -122.9% | $2.4B +96.0% | $1.2B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 24.5% +30.9pp | -6.4% +2.4pp | -8.8% -21.5pp | 12.7% +5.5pp | 7.2% | 16.6% | 24.1% | 22.0% |
| Interest Income | $45.0M +36.4% | $33.0M +73.7% | $19.0M +216.7% | $6.0M -14.3% | $7.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $357.0M -13.8% | $414.0M +33.5% | $310.0M +2.0% | $304.0M -6.7% | $326.0M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$1.2B -258.3% | -$336.0M -11.6% | -$301.0M -36.8% | -$220.0M +24.9% | -$293.0M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $1.1B +252.9% | -$739.0M +13.0% | -$849.0M -139.1% | $2.2B +134.2% | $927.0M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 11.9% +23.6pp | -11.7% +1.9pp | -13.6% -25.1pp | 11.6% +6.1pp | 5.5% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | -$513.0M -2073.1% | $26.0M -50.9% | $53.0M -91.5% | $625.0M +489.6% | $106.0M | $1.3B | -$1.6B | $745.2M |
| Net Income | $1.9B +333.2% | -$798.0M +52.6% | -$1.7B -208.9% | $1.5B +88.3% | $821.0M | $4.9B | $4.8B | $4.7B |
| Net Margin | 19.5% +32.2pp | -12.6% +14.3pp | -26.9% -35.1pp | 8.2% +3.4pp | 4.9% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $5 +303.4% | -$3 +51.4% | -$5 -211.6% | $5 +78.8% | $3 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $5 +296.2% | -$3 +51.4% | -$5 -213.1% | $5 +78.6% | $3 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $347.0M +6.4% | $326.0M +2.5% | $318.0M +1.9% | $312.0M +2.3% | $305.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $359.0M +10.1% | $326.0M +2.5% | $318.0M +0.6% | $316.0M +2.3% | $309.0M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Seagate Technology Holdings plc
NASDAQ:STX
$210.60B
Datadog, Inc.
NASDAQ:DDOG
$82.81B
Monolithic Power Systems, Inc.
NASDAQ:MPWR
$77.31B
NXP Semiconductors N.V.
NASDAQ:NXPI
$77.08B
Motorola Solutions, Inc.
NYSE:MSI
$68.25B
Electronic Arts Inc.
NASDAQ:EA
$50.89B
Infosys Limited
NYSE:INFY
$47.86B
Garmin Ltd.
NYSE:GRMN
$45.76B
Block, Inc.
NYSE:XYZ
$41.22B
Super Micro Computer, Inc.
NASDAQ:SMCI
$18.36B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does WDC generate?
Western Digital Corporation (WDC) reported $9.52B of revenue in fiscal 2025.
Is WDC profitable?
Western Digital Corporation (WDC) reported $1.86B of net income, with a net margin of 19.5%.
Explore More
Continue the stock analysis
Jump to another research area for this company.