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.

Common Stock Valuation Ratios (Price Multiples)

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Current Valuation Ratios

Western Digital Corp., current price multiples

Microsoft Excel
Western Digital Corp. Apple Inc. Arista Networks Inc. Cisco Systems Inc. Super Micro Computer Inc. Technology Hardware & Equipment Information Technology
Selected Financial Data
Current share price (P) $57.32
No. shares of common stock outstanding 325,859,745
 
Earnings per share (EPS) $-5.31
Operating profit per share $-3.94
Sales per share $37.80
Book value per share (BVPS) $35.98
Valuation Ratios (Price Multiples)
Price to sales (P/S) 1.52 8.89 21.85 4.33 2.73 8.51 12.17
Price to book value (P/BV) 1.59 61.01 17.73 5.13 9.84 33.32 17.54

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

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Western Digital Corp., historical price multiples

Microsoft Excel
Jun 30, 2023 Jul 1, 2022 Jul 2, 2021 Jul 3, 2020 Jun 28, 2019 Jun 29, 2018
Price to earnings (P/E) 10.04 23.78 27.54
Price to operating profit (P/OP) 6.30 16.00 34.17 179.17 5.14
Price to sales (P/S) 1.06 0.80 1.15 0.68 0.94 0.90
Price to book value (P/BV) 1.11 1.23 1.82 1.20 1.56 1.61

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).

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Western Digital Corp. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Western Digital Corp. P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023.

Price to Earnings (P/E)

Western Digital Corp., historical P/E 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$)
Net income (loss) attributable to common shareholders (in millions) (1,730) 1,500 821 (250) (754) 675
Earnings per share (EPS)2 -5.37 4.77 2.66 -0.83 -2.55 2.32
Share price1, 3 40.42 47.91 63.24 37.84 52.66 63.81
Valuation Ratio
P/E ratio4 10.04 23.78 27.54
Benchmarks
P/E Ratio, Competitors5
Apple Inc. 28.33 24.82 25.96 32.24 20.00
Arista Networks Inc. 39.77 32.05 47.56 37.41 19.88
Cisco Systems Inc. 18.26 15.78 23.34 15.46 17.69
Super Micro Computer Inc. 21.10 12.72 16.15 17.04 15.81 24.38
P/E Ratio, Sector
Technology Hardware & Equipment 27.37 23.94 25.86 29.55 19.60
P/E Ratio, Industry
Information Technology 35.72 27.05 29.26 31.09 22.67

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 2023 Calculation
EPS = Net income (loss) attributable to common shareholders ÷ No. shares of common stock outstanding
= -1,730,000,000 ÷ 321,895,961 = -5.37

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

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 40.42 ÷ -5.37 =

5 Click competitor name to see calculations.


Price to Operating Profit (P/OP)

Western Digital Corp., historical P/OP 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$)
Operating income (loss) (in millions) (1,285) 2,391 1,220 335 87 3,617
Operating profit per share2 -3.99 7.60 3.95 1.11 0.29 12.41
Share price1, 3 40.42 47.91 63.24 37.84 52.66 63.81
Valuation Ratio
P/OP ratio4 6.30 16.00 34.17 179.17 5.14
Benchmarks
P/OP Ratio, Competitors5
Apple Inc. 24.04 20.74 22.56 27.92 17.29
Arista Networks Inc. 36.77 28.38 43.25 33.92 21.21
Cisco Systems Inc. 15.32 13.35 19.26 12.73 14.46
Super Micro Computer Inc. 17.74 10.82 14.57 16.77 11.69 11.88
P/OP Ratio, Sector
Technology Hardware & Equipment 23.23 20.04 22.36 25.40 16.81
P/OP Ratio, Industry
Information Technology 30.04 22.84 26.04 26.62 19.84

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 2023 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= -1,285,000,000 ÷ 321,895,961 = -3.99

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

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 40.42 ÷ -3.99 =

5 Click competitor name to see calculations.


Price to Sales (P/S)

Western Digital Corp., historical P/S 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$)
Revenue, net (in millions) 12,318 18,793 16,922 16,736 16,569 20,647
Sales per share2 38.27 59.76 54.81 55.32 55.98 70.86
Share price1, 3 40.42 47.91 63.24 37.84 52.66 63.81
Valuation Ratio
P/S ratio4 1.06 0.80 1.15 0.68 0.94 0.90
Benchmarks
P/S Ratio, Competitors5
Apple Inc. 7.17 6.28 6.72 6.74 4.25
Arista Networks Inc. 14.16 9.89 13.57 10.24 7.09
Cisco Systems Inc. 4.04 3.62 4.96 3.52 3.96
Super Micro Computer Inc. 1.90 0.70 0.51 0.43 0.32 0.33
P/S Ratio, Sector
Technology Hardware & Equipment 6.78 5.95 6.51 6.22 4.18
P/S Ratio, Industry
Information Technology 7.87 6.47 7.48 6.63 5.03

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 2023 Calculation
Sales per share = Revenue, net ÷ No. shares of common stock outstanding
= 12,318,000,000 ÷ 321,895,961 = 38.27

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

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 40.42 ÷ 38.27 = 1.06

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Western Digital Corp. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Price to Book Value (P/BV)

Western Digital Corp., historical P/BV 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$)
Shareholders’ equity (in millions) 11,723 12,221 10,721 9,551 9,967 11,531
Book value per share (BVPS)2 36.42 38.86 34.72 31.57 33.67 39.58
Share price1, 3 40.42 47.91 63.24 37.84 52.66 63.81
Valuation Ratio
P/BV ratio4 1.11 1.23 1.82 1.20 1.56 1.61
Benchmarks
P/BV Ratio, Competitors5
Apple Inc. 44.21 48.89 38.96 28.33 12.21
Arista Networks Inc. 11.50 8.87 10.05 7.15 5.90
Cisco Systems Inc. 5.19 4.69 5.99 4.57 6.12
Super Micro Computer Inc. 6.85 2.54 1.65 1.35 1.21 1.33
P/BV Ratio, Sector
Technology Hardware & Equipment 26.57 28.02 25.10 19.04 10.39
P/BV Ratio, Industry
Information Technology 11.35 10.37 12.38 10.90 8.28

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 2023 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 11,723,000,000 ÷ 321,895,961 = 36.42

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

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 40.42 ÷ 36.42 = 1.11

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Western Digital Corp. P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023.