$19.5 B

WDC Mkt cap, 16-Aug-2018

$5 B

Western Digital Corporation Revenue Q3, 2018
Western Digital Corporation Gross profit (Q3, 2018)1.9 B
Western Digital Corporation Gross profit margin (Q3, 2018), %38.4%
Western Digital Corporation Net income (Q3, 2018)61 M
Western Digital Corporation EBIT (Q3, 2018)914 M
Western Digital Corporation Cash, 30-Mar-20185 B
Western Digital Corporation EV25.7 B

Western Digital Corporation Revenue

Western Digital Corporation revenue was $19.09 b in FY, 2017 which is a 46.9% year over year increase from the previous period.

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Western Digital Corporation Revenue Breakdown

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Western Digital Corporation revenue breakdown by business segment: 21.3% from Client Solutions, 49.9% from Client Devices and 28.8% from Data Center Devices & Solutions

Western Digital Corporation revenue breakdown by geographic segment: 17.1% from Hong Kong, 17.2% from Europe, Middle East and Africa, 16.7% from Asia, 22.4% from China, 20.3% from United States and 6.4% from Other

Western Digital Corporation Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

15.1 b14.6 b13 b19.1 b

Revenue growth, %

(4%)(11%)47%

Cost of goods sold

10.8 b10.4 b9.6 b13 b

Gross profit

4.4 b4.2 b3.4 b6.1 b

Gross profit Margin, %

29%29%26%32%

R&D expense

1.7 b1.6 b1.6 b2.4 b

General and administrative expense

813 m773 m997 m1.4 b

Operating expense total

2.5 b2.4 b2.6 b4.1 b

EBIT

1.8 b1.6 b466 m2 b

EBIT margin, %

12%11%4%10%

Interest expense

56 m49 m266 m847 m

Interest income

15 m14 m26 m26 m

Pre tax profit

1.8 b1.6 b153 m769 m

Income tax expense

135 m112 m(89 m)372 m

Net Income

1.6 b1.5 b242 m397 m

Quarterly

USDQ1, 2014Q2, 2014Q1, 2014Q3, 2014Q2, 2015Q1, 2015Q3, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

3.8 b4 b3.9 b3.7 b3.9 b3.4 b3.6 b2.8 b4.7 b4.9 b4.6 b5.2 b5.3 b5 b

Cost of goods sold

2.7 b2.8 b2.8 b2.6 b2.8 b2.4 b2.5 b2.1 b3.4 b3.4 b3.1 b3.3 b3.3 b3.1 b

Gross profit

1.1 b1.1 b1.1 b1.1 b1.1 b955 m1 b753 m1.3 b1.5 b1.5 b1.9 b2 b1.9 b

Gross profit Margin, %

29%29%29%29%29%28%29%27%28%31%33%37%38%38%

R&D expense

401 m421 m437 m426 m426 m385 m402 m359 m639 m585 m613 m592 m629 m602 m

General and administrative expense

132 m229 m220 m202 m164 m192 m199 m166 m396 m358 m346 m364 m381 m376 m

Operating expense total

546 m663 m680 m641 m644 m633 m611 m665 m1.1 b988 m998 m1 b1.1 b1 b

EBIT

542 m478 m469 m419 m466 m322 m421 m88 m232 m545 m525 m905 m955 m914 m

EBIT margin, %

14%12%12%11%12%10%12%3%5%11%11%17%18%18%

Interest expense

236 m205 m205 m205 m197 m160 m

Interest income

3 m3 m4 m5 m5 m7 m16 m14 m16 m

Pre tax profit

532 m467 m460 m406 m458 m314 m412 m80 m321 m304 m710 m774 m(128 m)

Income tax expense

37 m37 m37 m31 m20 m31 m28 m6 m95 m86 m56 m29 m1.6 b(189 m)

Net Income

495 m430 m423 m375 m438 m283 m384 m74 m(366 m)235 m248 m681 m(823 m)61 m

Western Digital Corporation Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

4.8 b5 b8.2 b6.4 b

Accounts Receivable

2 b1.5 b1.5 b1.9 b

Inventories

1.2 b1.4 b2.1 b2.3 b

Current Assets

8.7 b8.5 b12.6 b11.1 b

PP&E

3.3 b3 b3.5 b3 b

Goodwill

2.6 b2.8 b10 b10 b

Total Assets

15.5 b15.2 b32.9 b29.9 b

Accounts Payable

2 b1.9 b1.9 b2.1 b

Short-term debt

125 m407 m3.3 b233 m

Current Liabilities

3.8 b3.2 b6.9 b4.3 b

Long-term debt

2.3 b2.2 b13.7 b12.9 b

Total Debt

2.4 b2.6 b17 b13.2 b

Total Liabilities

21.7 b18.4 b

Common Stock

3 m3 m

Additional Paid-in Capital

2.3 b2.4 b4.4 b4.5 b

Retained Earnings

8.1 b9.1 b8.8 b8.6 b

Total Equity

8.8 b9.2 b11.1 b11.4 b

Debt to Equity Ratio

0.3 x0.3 x1.5 x1.2 x

Debt to Assets Ratio

0.2 x0.2 x0.5 x0.4 x

Financial Leverage

1.8 x1.6 x2.9 x2.6 x

Quarterly

USDQ1, 2014Q2, 2014Q1, 2014Q3, 2014Q2, 2015Q1, 2015Q3, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

4.9 b4.7 b5.2 b4.6 b4.9 b5.1 b4.8 b5.9 b4.1 b4.9 b5.7 b6.9 b6.3 b5 b

Accounts Receivable

1.8 b2 b1.9 b1.8 b1.9 b1.6 b1.7 b1.3 b2 b2 b1.9 b2.1 b2.1 b2 b

Inventories

1.2 b1.3 b1.3 b1.3 b1.3 b1.3 b1.3 b1.2 b2.1 b2.1 b2.3 b2.3 b2.3 b2.7 b

Current Assets

8.3 b8.3 b9 b8.3 b8.7 b8.7 b8.4 b8.7 b9.1 b9.6 b10.3 b11.8 b11.1 b10.2 b

PP&E

3.6 b3.5 b3.2 b3.4 b3.1 b2.9 b3.1 b2.7 b3.4 b3.2 b3.1 b3 b3.1 b3 b

Goodwill

2.1 b2.6 b2.6 b2.6 b2.6 b2.8 b2.7 b2.8 b10 b10 b10 b10.1 b10.1 b10.1 b

Total Assets

14.8 b15.3 b15.7 b15.3 b15.1 b15.3 b15.2 b14.9 b29 b29 b29.4 b30.5 b29.8 b29 b

Accounts Payable

2.1 b2.1 b2 b1.9 b2.1 b1.8 b2 b1.6 b1.9 b2 b2.2 b2.1 b1.9 b2.1 b

Short-term debt

230 m230 m125 m125 m125 m172 m141 m203 m78 m129 m181 m258 m274 m124 m

Current Liabilities

4.4 b4.6 b3.9 b3.7 b3.3 b3.2 b3.2 b2.8 b3.9 b4.1 b4.3 b4.5 b4.4 b4.3 b

Long-term debt

1.7 b1.6 b2.3 b2.3 b2.3 b2.1 b2.2 b2 b13.1 b12.9 b12.9 b12.9 b11.8 b11.1 b

Total Debt

1.9 b1.8 b2.4 b2.5 b2.4 b2.3 b2.3 b2.2 b13.1 b2.3 b13.1 b13.1 b12.1 b11.2 b

Total Liabilities

6.6 b6.7 b6.7 b6.6 b6.1 b5.9 b6 b5.3 b18.2 b18.2 b18.4 b18.4 b18.6 b17.7 b

Common Stock

3 m3 m3 m

Additional Paid-in Capital

2.2 b2.3 b2.3 b2.3 b2.3 b2.4 b2.4 b2.5 b4.5 b4.6 b4.5 b4.4 b4.4 b4.3 b

Retained Earnings

7.2 b7.5 b8.4 b7.8 b8.7 b9.3 b9 b9.4 b8.3 b8.4 b8.5 b9.2 b8.3 b8.2 b

Total Equity

8.3 b8.6 b9 b8.8 b9.1 b9.3 b9.2 b9.6 b10.8 b10.7 b11 b12.1 b11.3 b11.3 b

Debt to Equity Ratio

0.2 x0.2 x0.3 x0.3 x0.3 x0.2 x0.3 x0.2 x1.2 x0.2 x1.2 x1.1 x1.1 x1 x

Debt to Assets Ratio

0.1 x0.1 x0.2 x0.2 x0.2 x0.1 x0.2 x0.1 x0.5 x0.1 x0.4 x0.4 x0.4 x0.4 x

Financial Leverage

1.8 x1.8 x1.7 x1.7 x1.7 x1.6 x1.6 x1.6 x2.7 x2.7 x2.7 x2.5 x2.6 x2.6 x

Western Digital Corporation Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

1.6 b1.5 b242 m397 m

Depreciation and Amortization

1.2 b1.1 b1.2 b2.1 b

Accounts Receivable

(175 m)458 m466 m(487 m)

Inventories

(143 m)306 m(204 m)

Accounts Payable

(32 m)(148 m)(299 m)223 m

Cash From Operating Activities

2.8 b2.2 b2 b3.4 b

Purchases of PP&E

(628 m)(612 m)(584 m)(578 m)

Cash From Investing Activities

(1.9 b)(953 m)(9.6 b)(636 m)

Long-term Borrowings

(2.5 b)(125 m)(4.3 b)(12.2 b)

Dividends Paid

(259 m)(396 m)(464 m)(574 m)

Cash From Financing Activities

(385 m)(1.1 b)10.8 b(4.6 b)

Net Change in Cash

3.1 b(1.8 b)

Interest Paid

46 m45 m113 m777 m

Income Taxes Paid

141 m47 m26 m184 m

Quarterly

USDQ1, 2014Q2, 2014Q1, 2014Q3, 2014Q2, 2015Q1, 2015Q3, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

495 m430 m423 m375 m438 m283 m384 m74 m(366 m)(131 m)117 m681 m(142 m)(81 m)

Depreciation and Amortization

508 m1 b1.6 b533 m1.1 b1.6 b

Accounts Receivable

1.9 b1.9 b1.6 b1.7 b1.3 b(562 m)(540 m)(489 m)(148 m)(99 m)(58 m)

Inventories

1.3 b1.3 b1.3 b1.3 b1.2 b28 m52 m(117 m)44 m65 m(324 m)

Accounts Payable

2 b2.1 b1.8 b2 b1.6 b99 m180 m319 m(146 m)(276 m)(41 m)

Cash From Operating Activities

440 m1.5 b2.5 b1.1 b2.3 b3.3 b

Purchases of PP&E

(184 m)(330 m)(453 m)(160 m)(416 m)(643 m)

Cash From Investing Activities

(202 m)(316 m)(446 m)(378 m)(1 b)(1.4 b)

Long-term Borrowings

(8.2 b)(8.3 b)(12.2 b)(62 m)(4.1 b)(14.6 b)

Dividends Paid

(142 m)(284 m)(428 m)(147 m)(295 m)(443 m)

Cash From Financing Activities

(4.3 b)(4.4 b)(4.5 b)(224 m)(1.4 b)(3.3 b)

Net Change in Cash

532 m(82 m)(1.4 b)

Interest Paid

93 m299 m454 m71 m308 m633 m

Income Taxes Paid

18 m43 m117 m73 m140 m177 m

Western Digital Corporation Ratios

USDY, 2018

EV/EBIT

28.1 x

EV/CFO

7.7 x

Debt/Equity

1 x

Debt/Assets

0.4 x

Financial Leverage

2.6 x
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Western Digital Corporation Operating Metrics

Western Digital Corporation's Units Shipped was reported to be 185 m in FY, 2016. Western Digital Corporation's Backlog was reported to be $50m in FY, 2017.
Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016FY, 2017

Units Shipped

62.60 m63.10 m60.40 m249 m64.70 m61 m54.50 m229 m51.70 m49.70 m43.10 m185 m

Average Selling Price Per Unit

$58 $60 $58 $58 $58 $60 $61 $60 $60 $61 $60 $61

Backlog

$50 m$50 m

Patents Issued

7 k7 k13.50 k14 k
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