Stock Analysis on Net

Western Digital Corp. (NASDAQ:WDC)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 12, 2024.

Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

Western Digital Corp., solvency ratios

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Western Digital Corp. debt to equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Western Digital Corp. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Western Digital Corp. debt to capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Western Digital Corp. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Western Digital Corp. debt to assets ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Western Digital Corp. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Western Digital Corp. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Western Digital Corp. interest coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Western Digital Corp. fixed charge coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Debt to Equity

Western Digital Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
 
Shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Debt to Equity, Sector
Technology Hardware & Equipment
Debt to Equity, Industry
Information Technology

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).

1 2023 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Western Digital Corp. debt to equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Equity (including Operating Lease Liability)

Western Digital Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
Current portion of operating lease liabilities (included in Accrued expenses)
Long-term operating lease liabilities (included in Other liabilities)
Total debt (including operating lease liability)
 
Shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Debt to Equity (including Operating Lease Liability), Sector
Technology Hardware & Equipment
Debt to Equity (including Operating Lease Liability), Industry
Information Technology

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).

1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Western Digital Corp. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Capital

Western Digital Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
Shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Debt to Capital, Sector
Technology Hardware & Equipment
Debt to Capital, Industry
Information Technology

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).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Western Digital Corp. debt to capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Capital (including Operating Lease Liability)

Western Digital Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
Current portion of operating lease liabilities (included in Accrued expenses)
Long-term operating lease liabilities (included in Other liabilities)
Total debt (including operating lease liability)
Shareholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Debt to Capital (including Operating Lease Liability), Sector
Technology Hardware & Equipment
Debt to Capital (including Operating Lease Liability), Industry
Information Technology

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).

1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Western Digital Corp. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Assets

Western Digital Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Debt to Assets, Sector
Technology Hardware & Equipment
Debt to Assets, Industry
Information Technology

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).

1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Western Digital Corp. debt to assets ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Assets (including Operating Lease Liability)

Western Digital Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
Current portion of operating lease liabilities (included in Accrued expenses)
Long-term operating lease liabilities (included in Other liabilities)
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Debt to Assets (including Operating Lease Liability), Sector
Technology Hardware & Equipment
Debt to Assets (including Operating Lease Liability), Industry
Information Technology

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).

1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Western Digital Corp. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Financial Leverage

Western Digital Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Financial Leverage, Sector
Technology Hardware & Equipment
Financial Leverage, Industry
Information Technology

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).

1 2023 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Western Digital Corp. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Interest Coverage

Western Digital Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Selected Financial Data (US$ in millions)
Net income (loss)
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Interest Coverage, Sector
Technology Hardware & Equipment
Interest Coverage, Industry
Information Technology

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).

1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Western Digital Corp. interest coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Fixed Charge Coverage

Western Digital Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
U.S. Federal statutory tax rate
Selected Financial Data (US$ in millions)
Net income (loss)
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Cost of operating leases
Earnings before fixed charges and tax
 
Interest expense
Cost of operating leases
Cumulative dividends allocated to preferred shareholders
Cumulative dividends allocated to preferred shareholders, tax adjustment1
Cumulative dividends allocated to preferred shareholders, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
Apple Inc.
Arista Networks Inc.
Cisco Systems Inc.
Super Micro Computer Inc.
Fixed Charge Coverage, Sector
Technology Hardware & Equipment
Fixed Charge Coverage, Industry
Information Technology

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).

1 2023 Calculation
Cumulative dividends allocated to preferred shareholders, tax adjustment = (Cumulative dividends allocated to preferred shareholders × U.S. Federal statutory tax rate) ÷ (1 − U.S. Federal statutory tax rate)
= ( × ) ÷ (1 − ) =

2 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Western Digital Corp. fixed charge coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.