Stock Analysis on Net

Western Digital Corp. (NASDAQ:WDC)

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

Price to FCFE (P/FCFE) 

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Free Cash Flow to Equity (FCFE)

Western Digital Corp., FCFE calculation

US$ in millions

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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
Net noncash charges 1,208 1,455 1,252 1,831 2,561 3,044
Changes in assets and liabilities 90 (1,075) (175) (757) (260) 486
Net cash provided by (used in) operating activities (408) 1,880 1,898 824 1,547 4,205
Purchases of property, plant and equipment (821) (1,122) (1,146) (647) (876) (835)
Proceeds from the sale of property, plant and equipment 14 15 143 119 26
Settlement of debt hedge contracts 28
Repayment of debt (1,180) (3,621) (886) (982) (181) (17,074)
Proceeds from debt issuance 1,180 1,894 13,840
Borrowings from (repayment of) revolving credit facility (500) 500
Debt issuance costs (19) (23) (4) (59)
Free cash flow to equity (FCFE) (1,234) (977) 9 (805) 105 631

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Western Digital Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Western Digital Corp. FCFE decreased from 2021 to 2022 and from 2022 to 2023.

Price to FCFE Ratio, Current

Western Digital Corp., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 325,859,745
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) (1,234)
FCFE per share -3.79
Current share price (P) 57.32
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Apple Inc. 33.67
Arista Networks Inc. 60.12
Cisco Systems Inc. 7.75
Super Micro Computer Inc. 46.31
P/FCFE, Sector
Technology Hardware & Equipment 34.80
P/FCFE, Industry
Information Technology 51.66

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

1 Click competitor name to see calculations.

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


Price to FCFE Ratio, Historical

Western Digital Corp., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
No. shares of common stock outstanding1 321,895,961 314,492,541 308,748,049 302,525,787 296,003,875 291,356,809
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 (1,234) (977) 9 (805) 105 631
FCFE per share3 -3.83 -3.11 0.03 -2.66 0.35 2.17
Share price1, 4 40.42 47.91 63.24 37.84 52.66 63.81
Valuation Ratio
P/FCFE5 2,169.47 148.45 29.46
Benchmarks
P/FCFE, Competitors6
Apple Inc. 30.63 22.26 23.27 24.40 21.64
Arista Networks Inc. 41.51 96.71 42.05 32.98 18.04
Cisco Systems Inc. 12.84 17.18 21.02 38.82 14.85
Super Micro Computer Inc. 41.38 139.27 13.81 7.83 108.50
P/FCFE, Sector
Technology Hardware & Equipment 27.96 22.10 23.19 25.31 20.14
P/FCFE, Industry
Information Technology 33.47 26.69 27.52 23.46 19.14

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 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -1,234,000,000 ÷ 321,895,961 = -3.83

4 Closing price as at the filing date of Western Digital Corp. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 40.42 ÷ -3.83 =

6 Click competitor name to see calculations.