Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Western Digital Corp., EBITDA calculation

US$ in millions

12 months ended:	Jun 30, 2023	Jul 1, 2022	Jul 2, 2021	Jul 3, 2020	Jun 28, 2019	Jun 29, 2018
Net income (loss)	(1,706)	1,500)	821)	(250)	(754)	675)
Add: Income tax expense	146)	623)	106)	204)	467)	1,410)
Earnings before tax (EBT)	(1,560)	2,123)	927)	(46)	(287)	2,085)
Add: Interest expense	312)	304)	326)	413)	469)	676)
Earnings before interest and tax (EBIT)	(1,248)	2,427)	1,253)	367)	182)	2,761)
Add: Depreciation and amortization	828)	929)	1,212)	1,566)	1,812)	2,056)
Earnings before interest, tax, depreciation and amortization (EBITDA)	(420)	3,356)	2,465)	1,933)	1,994)	4,817)

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Western Digital Corp. EBITDA increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Western Digital Corp., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	24,601)
Earnings before interest, tax, depreciation and amortization (EBITDA)	(420)
Valuation Ratio
EV/EBITDA	—
Benchmarks
EV/EBITDA, Competitors¹
Apple Inc.	23.21
Arista Networks Inc.	35.41
Cisco Systems Inc.	9.71
Super Micro Computer Inc.	57.52
EV/EBITDA, Sector
Technology Hardware & Equipment	22.02
EV/EBITDA, Industry
Information Technology	31.32

Based on: 10-K (reporting date: 2023-06-30).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Western Digital Corp., historical EV/EBITDA calculation, comparison to benchmarks

	Jun 30, 2023	Jul 1, 2022	Jul 2, 2021	Jul 3, 2020	Jun 28, 2019	Jun 29, 2018
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	18,934)	19,762)	24,880)	17,975)	22,655)	24,758)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	(420)	3,356)	2,465)	1,933)	1,994)	4,817)
Valuation Ratio
EV/EBITDA³	—	5.89	10.09	9.30	11.36	5.14
Benchmarks
EV/EBITDA, Competitors⁴
Apple Inc.	21.66	19.15	20.47	23.12	13.59	11.54
Arista Networks Inc.	31.29	24.52	37.28	26.95	16.05	—
Cisco Systems Inc.	12.16	10.52	15.05	9.69	11.36	12.07
Super Micro Computer Inc.	16.77	10.49	11.20	10.64	7.73	10.02
EV/EBITDA, Sector
Technology Hardware & Equipment	20.69	18.24	19.98	20.90	13.22	—
EV/EBITDA, Industry
Information Technology	23.37	18.28	20.37	19.53	14.42	—