Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. The last earnings update was 72 days ago. More info.
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- Western Digital has significant price volatility in the past 3 months.
WDC Share Price and Events
7 Day Returns
1 Year Returns
WDC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Western Digital (WDC) | 6.8% | 13.5% | 42.4% | -32.8% | - | - |
| Europe Tech | 3% | 6.2% | 16.2% | -2.4% | 54.4% | 34.1% |
| AT Market | 3.4% | 6% | 10.1% | -2% | 43.4% | 29.5% |
1 Year Return vs Industry and Market
- WDC underperformed the Tech industry which returned -2.4% over the past year.
- WDC underperformed the Market in Austria which returned -2% over the past year.
WDC Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Western Digital
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Western Digital.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 28 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.8% |
| Perpetual Growth Rate | 10-Year AT Government Bond Rate | 0.5% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year AT Govt Bond Rate | 0.5% |
| Equity Risk Premium | S&P Global | 6% |
| Tech Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.043 (1 + (1- 21%) (65.88%)) |
1.393 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.39 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.393 * 5.96%) |
8.81% |
Discounted Cash Flow Calculation for WBAG:WDC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Western Digital is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 8.81%) |
|
|---|---|---|---|
| 2019 | 1,470.89 | Analyst x6 | 1,351.79 |
| 2020 | 1,494.27 | Analyst x6 | 1,262.08 |
| 2021 | 2,379.00 | Analyst x1 | 1,846.64 |
| 2022 | 2,460.39 | Est @ 3.42% | 1,755.18 |
| 2023 | 2,523.08 | Est @ 2.55% | 1,654.16 |
| 2024 | 2,571.95 | Est @ 1.94% | 1,549.66 |
| 2025 | 2,610.75 | Est @ 1.51% | 1,445.67 |
| 2026 | 2,642.31 | Est @ 1.21% | 1,344.68 |
| 2027 | 2,668.72 | Est @ 1% | 1,248.15 |
| 2028 | 2,691.47 | Est @ 0.85% | 1,156.86 |
| Present value of next 10 years cash flows | $14,614.86 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $2,691.47 × (1 + 0.51%) ÷ (8.81% – 0.51%) |
$32,590.73 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $32,590.73 ÷ (1 + 8.81%)10 |
$14,008.32 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $14,614.86 + $14,008.32 |
$28,623.19 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $28,623.19 / 290.85 |
$98.41 |
| Calculation | Result | |
|---|---|---|
| Non-primary Listing Adjustment Factor |
1 share in WBAG:WDC
represents 0.87471x
of
NasdaqGS:WDC
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
0.87471x |
| Value per Share (Listing Adjusted, EUR) |
= Value per Share (USD) x Listing Adjustment Factor
= $ 98.41 x 0.87471 |
€86.08 |
| Value per share (EUR) | From above. | €86.08 |
| Current discount | Discount to share price of
€48.45
= -1 x (€48.45 - €86.08) / €86.08 |
43.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Western Digital's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Western Digital's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Western Digital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Western Digital's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-28) in USD | $2.85 |
| NasdaqGS:WDC Share Price ** | NasdaqGS (2019-04-18) in USD | $55.39 |
| Europe Tech Industry PE Ratio | Median Figure of 22 Publicly-Listed Tech Companies | 13.11x |
| Austria Market PE Ratio | Median Figure of 51 Publicly-Listed Companies | 14.73x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Western Digital.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:WDC Share Price ÷ EPS (both in USD) = 55.39 ÷ 2.85 |
19.43x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Western Digital is overvalued based on earnings compared to the Europe Tech industry average.
- Western Digital is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does
Western Digital's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 19.43x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 28 Analysts |
74.7%per year |
| Europe Tech Industry PEG Ratio | Median Figure of 12 Publicly-Listed Tech Companies | 0.9x |
| Austria Market PEG Ratio | Median Figure of 32 Publicly-Listed Companies | 1.34x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 19.43x ÷ 74.7% |
0.26x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Western Digital is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
Western Digital's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-28) in USD | $37.50 |
| NasdaqGS:WDC Share Price * | NasdaqGS (2019-04-18) in USD | $55.39 |
| Europe Tech Industry PB Ratio | Median Figure of 30 Publicly-Listed Tech Companies | 1.3x |
| Austria Market PB Ratio | Median Figure of 59 Publicly-Listed Companies | 1.27x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:WDC Share Price ÷ Book Value per Share (both in USD) = 55.39 ÷ 37.50 |
1.48x |
* Primary Listing of Western Digital.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Western Digital is overvalued based on assets compared to the Europe Tech industry average.
Value checks
We assess Western Digital's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Tech industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Tech industry average (and greater than 0)? (1 check) Western Digital has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
WDC Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Western Digital's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
- Western Digital's earnings growth is expected to exceed the Austria market average.
- Western Digital's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| WBAG:WDC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 28 Analysts | 74.7% |
| WBAG:WDC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 28 Analysts | 1.4% |
| Europe Tech Industry Earnings Growth Rate | Market Cap Weighted Average | 14.5% |
| Europe Tech Industry Revenue Growth Rate | Market Cap Weighted Average | 8.1% |
| Austria Market Earnings Growth Rate | Market Cap Weighted Average | 9% |
| Austria Market Revenue Growth Rate | Market Cap Weighted Average | 2.7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 28 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-06-30 | 17,813 | 3,367 | 565 | 8 |
| 2020-06-30 | 16,445 | 2,757 | 1,059 | 25 |
| 2019-06-30 | 16,658 | 2,585 | -473 | 28 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-28 | 19,391 | 3,064 | 841 |
| 2018-09-28 | 20,494 | 3,777 | 505 |
| 2018-06-29 | 20,647 | 4,205 | 675 |
| 2018-03-30 | 20,372 | 4,281 | 199 |
| 2017-12-29 | 20,008 | 4,252 | 386 |
| 2017-09-29 | 19,560 | 4,130 | 1,444 |
| 2017-06-30 | 19,093 | 3,437 | 397 |
| 2017-03-31 | 17,746 | 2,853 | -249 |
| 2016-12-30 | 15,919 | 2,340 | -423 |
| 2016-09-30 | 14,348 | 1,878 | -407 |
| 2016-07-01 | 12,994 | 1,983 | 242 |
| 2016-04-01 | 12,690 | 2,116 | 828 |
| 2016-01-01 | 13,418 | 2,315 | 1,138 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 28 Analyst Estimates (S&P Global) | See Below |
All data from Western Digital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-06-30 | 4.02 | 7.84 | 2.07 | 3.00 |
| 2020-06-30 | 3.20 | 4.58 | 1.89 | 5.00 |
| 2019-06-30 | -1.67 | -0.77 | -2.22 | 10.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-28 | 2.85 |
| 2018-09-28 | 1.70 |
| 2018-06-29 | 2.27 |
| 2018-03-30 | 0.68 |
| 2017-12-29 | 1.32 |
| 2017-09-29 | 4.97 |
| 2017-06-30 | 1.38 |
| 2017-03-31 | -0.89 |
| 2016-12-30 | -1.59 |
| 2016-09-30 | -1.61 |
| 2016-07-01 | 1.01 |
| 2016-04-01 | 3.58 |
| 2016-01-01 | 4.93 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Western Digital's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Western Digital has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
WDC Past Performance
How has Western Digital performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Western Digital's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Western Digital's 1-year earnings growth exceeds its 5-year average (111.5% vs -25.9%)
- Western Digital's earnings growth has exceeded the Europe Tech industry average in the past year (111.5% vs 12.3%).
Earnings and Revenue History
All data from Western Digital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-28 | 19,391.00 | 841.00 | 1,393.00 | 2,294.00 |
| 2018-09-28 | 20,494.00 | 505.00 | 1,465.00 | 2,384.00 |
| 2018-06-29 | 20,647.00 | 675.00 | 1,473.00 | 2,400.00 |
| 2018-03-30 | 20,372.00 | 199.00 | 1,466.00 | 2,427.00 |
| 2017-12-29 | 20,008.00 | 386.00 | 1,436.00 | 2,438.00 |
| 2017-09-29 | 19,560.00 | 1,444.00 | 1,413.00 | 2,394.00 |
| 2017-06-30 | 19,093.00 | 397.00 | 1,445.00 | 2,441.00 |
| 2017-03-31 | 17,746.00 | -249.00 | 1,347.00 | 2,325.00 |
| 2016-12-30 | 15,919.00 | -423.00 | 1,167.00 | 2,071.00 |
| 2016-09-30 | 14,348.00 | -407.00 | 1,048.00 | 1,875.00 |
| 2016-07-01 | 12,994.00 | 242.00 | 997.00 | 1,627.00 |
| 2016-04-01 | 12,690.00 | 828.00 | 824.00 | 1,514.00 |
| 2016-01-01 | 13,418.00 | 1,138.00 | 857.00 | 1,557.00 |
| 2015-10-02 | 13,989.00 | 1,325.00 | 782.00 | 1,594.00 |
| 2015-07-03 | 14,572.00 | 1,465.00 | 788.00 | 1,646.00 |
| 2015-04-03 | 15,032.00 | 1,562.00 | 785.00 | 1,691.00 |
| 2015-01-02 | 15,185.00 | 1,553.00 | 787.00 | 1,707.00 |
| 2014-10-03 | 15,269.00 | 1,545.00 | 849.00 | 1,697.00 |
| 2014-06-27 | 15,130.00 | 1,617.00 | 826.00 | 1,661.00 |
| 2014-03-28 | 15,207.00 | 1,035.00 | 804.00 | 1,637.00 |
| 2013-12-27 | 15,268.00 | 1,051.00 | 788.00 | 1,615.00 |
| 2013-09-27 | 15,120.00 | 956.00 | 724.00 | 1,577.00 |
| 2013-06-28 | 15,351.00 | 980.00 | 706.00 | 1,572.00 |
| 2013-03-29 | 16,377.00 | 1,990.00 | 704.00 | 1,576.00 |
| 2012-12-28 | 15,648.00 | 2,082.00 | 674.00 | 1,445.00 |
| 2012-09-28 | 13,819.00 | 1,892.00 | 608.00 | 1,258.00 |
| 2012-06-29 | 12,478.00 | 1,612.00 | 518.00 | 1,055.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Western Digital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Western Digital used its assets less efficiently than the Europe Tech industry average last year based on Return on Assets.
- Western Digital has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Western Digital's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Tech industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Western Digital has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
WDC Health
How is Western Digital's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Western Digital's finances.
The net worth of a company is the difference between its assets and liabilities.
- Western Digital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Western Digital's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Western Digital Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-28 | 10,912.00 | 10,614.00 | 4,036.00 |
| 2018-09-28 | 11,375.00 | 11,143.00 | 4,670.00 |
| 2018-06-29 | 11,531.00 | 11,172.00 | 5,044.00 |
| 2018-03-30 | 11,300.00 | 11,200.00 | 4,997.00 |
| 2017-12-29 | 11,272.00 | 12,051.00 | 6,303.00 |
| 2017-09-29 | 12,059.00 | 13,131.00 | 6,921.00 |
| 2017-06-30 | 11,418.00 | 13,152.00 | 6,378.00 |
| 2017-03-31 | 11,031.00 | 13,088.00 | 5,677.00 |
| 2016-12-30 | 10,732.00 | 13,073.00 | 5,101.00 |
| 2016-09-30 | 10,775.00 | 13,133.00 | 4,325.00 |
| 2016-07-01 | 11,145.00 | 16,994.00 | 8,378.00 |
| 2016-04-01 | 9,609.00 | 2,203.00 | 6,033.00 |
| 2016-01-01 | 9,557.00 | 2,505.00 | 5,860.00 |
| 2015-10-02 | 9,336.00 | 2,536.00 | 5,428.00 |
| 2015-07-03 | 9,219.00 | 2,556.00 | 5,286.00 |
| 2015-04-03 | 9,226.00 | 2,344.00 | 5,040.00 |
| 2015-01-02 | 9,082.00 | 2,375.00 | 5,143.00 |
| 2014-10-03 | 8,963.00 | 2,406.00 | 5,381.00 |
| 2014-06-27 | 8,842.00 | 2,438.00 | 5,088.00 |
| 2014-03-28 | 8,768.00 | 2,469.00 | 4,865.00 |
| 2013-12-27 | 8,579.00 | 2,340.00 | 4,655.00 |
| 2013-09-27 | 8,253.00 | 2,398.00 | 4,869.00 |
| 2013-06-28 | 7,893.00 | 1,955.00 | 4,309.00 |
| 2013-03-29 | 8,423.00 | 2,013.00 | 4,060.00 |
| 2012-12-28 | 8,247.00 | 2,128.00 | 3,816.00 |
| 2012-09-28 | 8,037.00 | 2,128.00 | 3,537.00 |
| 2012-06-29 | 7,669.00 | 2,185.00 | 3,208.00 |
- Western Digital's level of debt (97.3%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (27.3% vs 97.3% today).
- Debt is well covered by operating cash flow (28.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 6.3x coverage).
Financial health checks
We assess Western Digital's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Western Digital has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
WDC Dividends
What is Western Digital's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
€2,000 of
Western Digital
shares you are expected to receive
€72
in your first year as a dividend.
Dividend Amount
- Western Digital's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
- Western Digital's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 28 Analyst Estimates (S&P Global) | See Below |
| Europe Tech Industry Average Dividend Yield | Market Cap Weighted Average of 12 Stocks | 1.5% |
| Austria Market Average Dividend Yield | Market Cap Weighted Average of 49 Stocks | 3.4% |
| Austria Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Austria Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| Austria Top 25% Dividend Yield | 75th Percentile | 4.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-06-30 | 2.04 | 6.00 |
| 2020-06-30 | 2.01 | 12.00 |
| 2019-06-30 | 2.00 | 13.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-14 | 2.000 | 4.045 |
| 2019-02-05 | 2.000 | 4.247 |
| 2019-01-24 | 2.000 | 4.503 |
| 2018-08-02 | 2.000 | 4.092 |
| 2018-05-02 | 2.000 | 2.510 |
| 2018-01-29 | 2.000 | 2.237 |
| 2017-11-02 | 2.000 | 2.371 |
| 2017-08-03 | 2.000 | 2.321 |
| 2017-05-03 | 2.000 | 2.230 |
| 2017-02-02 | 2.000 | 2.512 |
| 2016-11-04 | 2.000 | 2.989 |
| 2016-08-04 | 2.000 | 3.863 |
| 2016-05-04 | 2.000 | 4.419 |
| 2016-02-11 | 2.000 | 4.460 |
| 2015-11-03 | 2.000 | 3.609 |
| 2015-08-04 | 2.000 | 2.566 |
| 2015-05-05 | 2.000 | 2.285 |
| 2015-02-04 | 2.000 | 1.997 |
| 2014-11-04 | 1.600 | 1.530 |
| 2014-08-05 | 1.600 | 1.653 |
| 2014-05-15 | 1.600 | 1.719 |
| 2014-02-07 | 1.200 | 1.374 |
| 2013-11-14 | 1.200 | 1.474 |
| 2013-09-20 | 1.000 | 1.464 |
| 2013-05-16 | 1.000 | 1.555 |
| 2013-02-14 | 1.000 | 1.962 |
| 2012-12-11 | 1.000 | 2.272 |
| 2012-09-13 | 1.000 | 2.755 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Western Digital has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Western Digital only paid a dividend in the past 7 years.
Income/ dividend checks
We assess Western Digital's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Western Digital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Western Digital has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
WDC Management
CEO
| COMPENSATION | $19,738,381 |
| AGE | 55 |
| TENURE AS CEO | 6.3 years |
CEO Bio
Mr. Stephen D. Milligan, also known as Steve, has been the Chief Executive Officer of Western Digital Corporation since January 2, 2013 and served as its President from January 1, 2013 to October 18, 2015. Mr. Milligan has more than 30 years of executive operational and financial leadership experience. Mr. Milligan rejoined Western Digital Corporation in March 2012 as President following its acquisition of HGST, Inc. where he served as the Chief Executive Officer from February 2009 to March 2012. He served as President of Western Digital Corporation from March 7, 2012 to October 18, 2015 and its Chief Financial Officer since January 29, 2004 until September 2007. Mr. Milligan served as the Chief Executive Officer and President of Viviti Technologies Ltd. He served as Senior Vice President of Western Digital Corp. on January 29, 2004 and its Vice President of Finance since December 11, 2002 until 2007. Before Western Digital, he worked for Dell Inc. from 1997 to 2002 in financial and accounting roles of increasing responsibility. He served Dell in a variety of finance roles, as Controller for the Dell Financial Services business. He served as Dell's Corporate Assistant Controller, European Controller, northern European finance Director and Director of finance for the Americas business. He held the position of senior manager for Price Waterhouse, where he spent 12 years. Mr. Milligan has been a Director of Western Digital Corporation since January 2, 2013 and serves as Chief Executive Officer at Western Digital Technologies, Inc. He has been an Director of Autodesk, Inc. since December 13, 2018. He has been an Independent Director of Ross Stores Inc. since January 23, 2015. In November 1985, he received the Elijah Watt Sells Award, which recognizes Certified Public Accountant candidates with the highest marks received when taking the Uniform CPA Examination. Mr. Milligan holds a bachelor's degree in accounting from The Ohio State University in 1985.
CEO Compensation
- Steve's compensation has been consistent with company performance over the past year.
- Insufficient data for Steve to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure
Average tenure and age of the Western Digital management team in years:
- The tenure for the Western Digital management team is about average.
Management Team
Steve Milligan
CEO & Director
$20M
55
6.3 yrs
Mike Cordano
President & COO
$9M
54
3.5 yrs
Mark Long
CFO & Chief Strategy Officer
$6M
51
2.6 yrs
Martin Fink
CTO & Executive VP
$4M
53
2.3 yrs
Siva Sivaram
Executive Vice President of Silicon Technology & Manufacturing
$6M
58
2.9 yrs
C. Wesley Scott
Chief Investment Officer
Donald Robertson
VP of Finance & Chief Accounting Officer
49
0.2 yrs
T. Peter Andrew
Vice President of Investor Relations
Michael Ray
Chief Legal Officer
$5M
50
8.5 yrs
Dave Tang
Senior Vice President of Corporate Marketing
53
2 yrs
Board of Directors Tenure
Average tenure and age of the Western Digital board of directors in years:
- The tenure for the Western Digital board of directors is about average.
Board of Directors
Matt Massengill
Independent Chairman
$465K
57
3.4 yrs
Steve Milligan
CEO & Director
$20M
55
6.3 yrs
Henry DeNero
Independent Director
$339K
72
18.8 yrs
Len Lauer
Lead Independent Director
$395K
61
3.4 yrs
Kath Cote
Independent Director
$337K
69
18.3 yrs
Michael Lambert
Independent Director
$350K
71
16.7 yrs
Martin Cole
Independent Director
$340K
62
4.3 yrs
Tunç Doluca
Independent Director
60
0.7 yrs
Kimberly Alexy
Director
48
0.4 yrs
Stephanie Streeter
Director
60
0.4 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Western Digital's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Western Digital has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
WDC Company Info
Description
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions. The company also provides data center devices and solutions comprising enterprise helium hard drives; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, online transactions, data analysis, and other enterprise applications; data center solutions, including HDDs and drive configurations for use in data storage systems and tiered storage models; system solutions that offer petabyte scalable capacity; and data storage platforms and systems. In addition, it offers client solution, such as external HDD storage products in mobile and desktop form; client SSDs; removable cards used in consumer devices comprising mobile phones, tablets, imaging systems, still cameras, action video cameras, and security surveillance systems; universal serial bus flash drives used in the computing and consumer markets; and wireless drive products for in-field back up of created content, as well as wireless streaming of high-definition movies, photos, music and documents to tablets, smartphones, and personal computers (PCs). The company sells its products under the HGST, SanDisk, and WD brands to original equipment manufacturers, distributors, resellers, cloud infrastructure players, and retailers. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.
Details
| Name: | Western Digital Corporation |
| WDC | |
| Exchange: | WBAG |
| Founded: | 1970 |
| $14,331,663,682 | |
| 290,850,938 | |
| Website: | http://www.wdc.com |
| Address: |
Western Digital Corporation 5601 Great Oaks Parkway, San Jose, California, 95119, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | WDC | Common Stock | Nasdaq Global Select | US | USD | 26. Jan 1973 | |
| DB | WDC | Common Stock | Deutsche Boerse AG | DE | EUR | 26. Jan 1973 | |
| LSE | 0QZF | Common Stock | London Stock Exchange | GB | USD | 26. Jan 1973 | |
| SWX | WDC | Common Stock | SIX Swiss Exchange | CH | CHF | 26. Jan 1973 | |
| WBAG | WDC | Common Stock | Wiener Boerse AG | AT | EUR | 26. Jan 1973 | |
| BMV | WDC * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 26. Jan 1973 |
Number of employees
Current staff
Industry
| Technology Hardware, Storage and Peripherals | |
| Tech |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/18 22:33 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/18 |
| Last earnings filing: | 2019/02/05 |
| Last earnings reported: | 2018/12/28 |
| Last annual earnings reported: | 2018/06/29 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
