Company file · WDC

Western Digital

Cloud was Western Digital's fastest-growing product or service in FY2026, up 37.8%

Revenue rose 35.7% to $12.9B in FY2026, from $9.5B in FY2025. Net income rose 398.9% to $9.4B. Cloud was the largest product or service, at 89% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2026 (filed Aug 14, 2026) · Latest quarter: 10-Q for the quarter ended Oct 2, 2026 (filed Oct 23, 2026) · Data pulled Oct 27, 2026

Key facts

Western Digital (Nasdaq: WDC) reported revenue of $12.9B for fiscal 2026, the year ended Jul 3, 2026, up 35.7% from fiscal 2025. Net income was $9.4B, up 398.9%. In its latest 10-Q, for the quarter ended Oct 2, 2026, revenue was $4.4B, up 55.5% from the same quarter a year earlier, and net income was $1.8B. The largest piece by product or service was Cloud, at 89% of fiscal 2026 revenue. Sources: 10-K for fiscal 2026 (filed Aug 14, 2026) and 10-Q for the quarter ended Oct 2, 2026 (filed Oct 23, 2026).

Revenue$12.9BFY2026 · +35.7% vs FY2025

Net income$9.4BFY2026 · +398.9% vs FY2025

Operating cash flow$3.9BFY2026 · +132.3% vs FY2025

Cash & equivalents$1.3Bat Oct 2, 2026 · −16.8% vs FY2026 end

Total debt$1.1BFY2026 end · −77.7% vs FY2025

Diluted shares383MFY2026 avg · +6.7% vs FY2025

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2026, filed Aug 14, 2026

Quarterly revenue: fiscal 2027 vs a year earlierFiscal Q1, $bn (each quarter from that quarter's 10-Q)

FY2026FY2027

Source: 10-Q filed Oct 23, 2026

How it makes money

By product or service, FY2026

LineAmountSharevs FY2025
Cloud$11.5B89%+37.8%
Client Devices$726M6%+30.6%
Consumer$703M5%+12.8%

Source: 10-K FY2026, XBRL breakdown

By product or service in FY2026: Cloud (89%), Client Devices (6%) and Consumer (5%), as shares of total revenue. Total revenue was $12.9B.

By product or service: three-year mixShare of the total each fiscal year

FY2024

80%9%11%

FY2025

88%

FY2026

89%

CloudClient DevicesConsumer

Source: 10-K FY2026

By region, FY2026

United States$5.2B40%+19.4%

China$2.5B20%+64.0%

EMEA$2.1B16%+37.6%

Hong Kong$1.5B12%+41.5%

Rest of Asia$1.1B8%+38.3%

Other$513M4%+94.3%

Share is of the FY2026 total; the last column is the change from FY2025.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q1 FY2027 (Jul to Sep 2026) compared with Q1 FY2026 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q1 FY2027Q1 FY2026

Company

Revenue

$4.4B Q1 FY2027

$2.8B Q1 FY2026

55.5% increase

Net income

$1.8B Q1 FY2027

$1.2B Q1 FY2026

50.5% increase

Source: Western Digital 10-Q for the quarter ended Oct 2, 2026, filed Oct 23, 2026

By product or service

Cloud

$3.9B Q1 FY2027

$2.5B Q1 FY2026

54.1% increase

Client Devices

$320M Q1 FY2027

$146M Q1 FY2026

119.2% increase

Consumer

$193M Q1 FY2027

$162M Q1 FY2026

19.1% increase

Source: Western Digital 10-Q for the quarter ended Oct 2, 2026, filed Oct 23, 2026

Cash & equivalents $1.3B at Oct 2, 2026, vs $1.6B at FY2026 end.
Operating cash flow, first 3 months of fiscal 2027: $1.6B vs $672M a year earlier.

The bull case and the bear case

The bull case

Revenue rose 35.7% in FY2026 to $12.9B, from $9.5B a year earlier. 10-K, FY2026
Net income rose 398.9% in FY2026 to $9.4B, from $1.9B. 10-K, FY2026
Operating cash flow rose 132.3% in FY2026 to $3.9B. 10-K, FY2026
Total debt fell 77.7% in FY2026 to $1.1B. 10-K, FY2026

The bear case

Diluted shares rose 6.7% in FY2026, which spreads profit across more shares. 10-K, FY2026
The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include competition; customer demand; security and privacy. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Western Digital is in the technology hardware, storage & peripherals industry, part of the information technology sector. The SEC files it under Computer Storage Devices.

The full description of Western Digital's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service and region.

Its fiscal year ends in July; the latest, FY2026, ended Jul 3, 2026.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the technology hardware, storage & peripherals industry. They are not a summary of Western Digital’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

CompetitionTechnology markets move fast, and rivals large and small can change prices or products.
Customer demandSpending by customers on technology rises and falls with their budgets and the economy.
Security and privacyCyberattacks, outages and data-privacy rules can raise costs or harm customer trust.
Supply and tradeReliance on suppliers and exposure to tariffs or export rules can limit what it can sell or build.
Intellectual propertyPatent claims and licensing disputes can lead to costs or limits on products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2024	FY2025	FY2026
Revenue	$6.3B	$9.5B	$12.9B
Net income	−$798M	$1.9B	$9.4B
Operating cash flow	−$294M	$1.7B	$3.9B
Cash & equivalents (year end)	$1.6B	$2.1B	$1.6B
Total debt (year end)	$7.4B	$4.7B	$1.1B
Diluted shares	326M	359M	383M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: The current part of long-term debt plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator

About these numbers

Recent filings

Form	Filed	Period
10-Q	Oct 23, 2026	Oct 2, 2026
DEF 14A	Oct 5, 2026	Nov 20, 2026
10-K	Aug 14, 2026	Jul 3, 2026

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Western Digital

How does Western Digital make money?

Western Digital's revenue was $12.9B in fiscal 2026. By product or service in FY2026: Cloud (89%), Client Devices (6%) and Consumer (5%), as shares of total revenue. Total revenue was $12.9B. Source: 10-K for fiscal 2026, filed Aug 14, 2026.

What was Western Digital's revenue in fiscal 2026?

$12.9B of revenue for the fiscal year ended Jul 3, 2026, up 35.7% from $9.5B in fiscal 2025. Fiscal 2024 was $6.3B. Source: 10-K for fiscal 2026, filed Aug 14, 2026.

Is Western Digital profitable?

Western Digital reported net income of $9.4B for fiscal 2026, up 398.9% from $1.9B in fiscal 2025. That is a profit under US accounting rules (GAAP). In the quarter ended Oct 2, 2026, net income was $1.8B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2026, filed Aug 14, 2026.

What did Western Digital report in its latest quarterly filing?

Revenue was $4.4B in the quarter ended Oct 2, 2026, up 55.5% from $2.8B a year earlier. Net income was $1.8B, up 50.5% from $1.2B. Source: 10-Q for the quarter ended Oct 2, 2026, filed Oct 23, 2026.

What are the main risks Western Digital faces?

Western Digital's own risk factors are in Item 1A of its 10-K for fiscal 2026, filed Aug 14, 2026. Risks that are common among companies in the technology hardware, storage & peripherals industry include Competition; customer demand; security and privacy; supply and trade; intellectual property. The first: Technology markets move fast, and rivals large and small can change prices or products. Source: 10-K, Item 1A Risk Factors.

Where do these Western Digital numbers come from?

From Western Digital's own SEC filings: the 10-K for fiscal 2026 (filed Aug 14, 2026) and the 10-Q for the quarter ended Oct 2, 2026 (filed Oct 23, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Disclosures

Editor holdings in WDC: The editor holds no position in Western Digital (WDC). As of Oct 25, 2026.
Trading rule: The editor does not buy or sell WDC from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Oct 27, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold WDC, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
Western DigitalWDC	FY2026	$12.9B	+35.7%	$9.4B
AppleAAPL	FY2025	$416.2B	+6.4%	$112.0B
Dell	FY2026	$113.5B	+18.8%	$5.9B
SandiskSNDK	FY2026	$20.2B	+175.3%	$11.4B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.