Western Digital Corporation

WDC

Computer Hardware · Technology

Also trades as: 0QZF.L · WDC.DE

Price

$459.44

-9.61 (-2.05%)

Market Cap

$158.36B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jul 3, 2026

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Good

Stability

Exceptional

Valuation

Mixed

Dividends

Weak

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Share count rising — dilution

+21.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 316.0M (2022) → 383.0M (2026)

Winston Score History

The full picture

Western Digital makes hard drives and flash memory chips that store data inside computers, phones, and data centers. Its main products include hard disk drives (HDDs), solid-state drives (SSDs), and NAND flash memory sold under brands like WD and SanDisk. It sells to consumers, businesses, cloud companies like Amazon and Google, and device makers worldwide.

The company earns money by selling storage hardware and components, with revenue split between its HDD and flash memory segments. Western Digital operates globally, with manufacturing in the US, Malaysia, Thailand, and Japan, and generates tens of billions in annual revenue. Its competitive position comes from scale and deep manufacturing expertise, but the flash memory business is cyclical — prices can swing sharply based on industry supply and demand. The key growth driver is rising demand for storage from AI data centers and cloud computing, while oversupply in the NAND market remains the main risk to profitability.

Politician Trades

8 trades / 12mo

5 Congressional buys and 3 sells on WDC in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+43.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$1.2B/ year

↑ Rising (+17% vs prior year)

9.0% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Insider Activity

0.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Western Digital Corporation grew revenue 44% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

54.1%

Healthy — 54.1% gross margin

Profit after running costs

Operating Margin

41.7%

Excellent — 41.7% operating margin

Return on the money invested

ROCE

45.5%

Exceptional — 45.5% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+13.4%

Fast-growing sales (+13.4% YoY)

Profit growth

EPS YoY

+409.6%

Earnings growing fast (+409.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

40%

Weak — only 40% of profit becomes cash

Spare cash per sale

FCF Margin

25.7%

Converts sales into free cash efficiently (25.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.12

Conservative — low debt load (0.12)

Covers its interest

Interest Cover

29.85x

Comfortably covers interest (29.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

16.9x

Fair value — P/E 16.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-0.8

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

0.09%

Small dividend — 0.09% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-68.8%

Dividend cut (-68.8% YoY) — warning sign

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