Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Western Digital Corp., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Western Digital Corp. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Western Digital Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Western Digital Corp. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Western Digital Corp. equity turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover
Western Digital Corp., net fixed asset turnover 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) | |||||||
| Revenue, net | 12,318) | 18,793) | 16,922) | 16,736) | 16,569) | 20,647) | |
| Property, plant and equipment, net | 3,620) | 3,670) | 3,188) | 2,854) | 2,843) | 3,095) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 3.40 | 5.12 | 5.31 | 5.86 | 5.83 | 6.67 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Apple Inc. | 8.77 | 9.36 | 9.28 | 7.47 | 6.96 | — | |
| Arista Networks Inc. | 57.69 | 46.11 | 37.49 | 71.90 | 61.38 | — | |
| Cisco Systems Inc. | 27.34 | 25.82 | 21.31 | 20.10 | 18.61 | — | |
| Dell Technologies Inc. | 16.48 | 18.69 | 14.65 | 15.22 | 17.23 | — | |
| Super Micro Computer Inc. | 24.54 | 18.17 | 12.95 | 14.28 | 16.88 | 17.09 | |
| Net Fixed Asset Turnover, Sector | |||||||
| Technology Hardware & Equipment | 10.60 | 11.15 | 10.63 | 9.26 | — | — | |
| Net Fixed Asset Turnover, Industry | |||||||
| Information Technology | 3.78 | 4.44 | 4.74 | 4.57 | — | — | |
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
Net fixed asset turnover = Revenue, net ÷ Property, plant and equipment, net
= 12,318 ÷ 3,620 = 3.40
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Western Digital Corp. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Western Digital Corp., net fixed asset turnover (including operating lease, right-of-use asset) 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) | |||||||
| Revenue, net | 12,318) | 18,793) | 16,922) | 16,736) | 16,569) | 20,647) | |
| Property, plant and equipment, net | 3,620) | 3,670) | 3,188) | 2,854) | 2,843) | 3,095) | |
| Operating lease right-of-use assets (included in Other non-current assets) | 260) | 300) | 222) | 230) | —) | —) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 3,880) | 3,970) | 3,410) | 3,084) | 2,843) | 3,095) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 3.17 | 4.73 | 4.96 | 5.43 | 5.83 | 6.67 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Apple Inc. | 7.05 | 7.51 | 7.39 | 6.06 | 6.96 | — | |
| Arista Networks Inc. | 37.21 | 29.52 | 20.50 | 21.16 | 18.98 | — | |
| Cisco Systems Inc. | 18.65 | 17.19 | 14.51 | 14.61 | 18.61 | — | |
| Dell Technologies Inc. | 14.75 | 16.10 | 11.02 | 11.76 | 17.23 | — | |
| Super Micro Computer Inc. | 23.02 | 16.78 | 12.07 | 12.96 | 16.88 | 17.09 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Technology Hardware & Equipment | 8.57 | 8.94 | 8.34 | 7.41 | — | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Information Technology | 3.31 | 3.84 | 4.03 | 3.87 | — | — | |
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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue, net ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 12,318 ÷ 3,880 = 3.17
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Western Digital Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Western Digital Corp., total asset turnover 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) | |||||||
| Revenue, net | 12,318) | 18,793) | 16,922) | 16,736) | 16,569) | 20,647) | |
| Total assets | 24,429) | 26,259) | 26,132) | 25,662) | 26,370) | 29,235) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 0.50 | 0.72 | 0.65 | 0.65 | 0.63 | 0.71 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Apple Inc. | 1.09 | 1.12 | 1.04 | 0.85 | 0.77 | — | |
| Arista Networks Inc. | 0.59 | 0.65 | 0.51 | 0.49 | 0.58 | — | |
| Cisco Systems Inc. | 0.56 | 0.55 | 0.51 | 0.52 | 0.53 | — | |
| Dell Technologies Inc. | 1.14 | 1.09 | 0.76 | 0.78 | 0.81 | — | |
| Super Micro Computer Inc. | 1.94 | 1.62 | 1.59 | 1.74 | 2.08 | 1.90 | |
| Total Asset Turnover, Sector | |||||||
| Technology Hardware & Equipment | 1.00 | 1.01 | 0.89 | 0.77 | — | — | |
| Total Asset Turnover, Industry | |||||||
| Information Technology | 0.61 | 0.65 | 0.62 | 0.58 | — | — | |
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
Total asset turnover = Revenue, net ÷ Total assets
= 12,318 ÷ 24,429 = 0.50
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Western Digital Corp. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Equity Turnover
Western Digital Corp., equity turnover 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) | |||||||
| Revenue, net | 12,318) | 18,793) | 16,922) | 16,736) | 16,569) | 20,647) | |
| Shareholders’ equity | 11,723) | 12,221) | 10,721) | 9,551) | 9,967) | 11,531) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 1.05 | 1.54 | 1.58 | 1.75 | 1.66 | 1.79 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Apple Inc. | 6.17 | 7.78 | 5.80 | 4.20 | 2.88 | — | |
| Arista Networks Inc. | 0.81 | 0.90 | 0.74 | 0.70 | 0.83 | — | |
| Cisco Systems Inc. | 1.29 | 1.30 | 1.21 | 1.30 | 1.55 | — | |
| Dell Technologies Inc. | — | — | 38.01 | — | — | — | |
| Super Micro Computer Inc. | 3.61 | 3.64 | 3.25 | 3.13 | 3.72 | 3.98 | |
| Equity Turnover, Sector | |||||||
| Technology Hardware & Equipment | 4.94 | 5.86 | 4.61 | 3.97 | — | — | |
| Equity Turnover, Industry | |||||||
| Information Technology | 1.57 | 1.74 | 1.80 | 1.82 | — | — | |
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
Equity turnover = Revenue, net ÷ Shareholders’ equity
= 12,318 ÷ 11,723 = 1.05
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Western Digital Corp. equity turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |