Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Current Valuation Ratios
Western Digital Corp., current price multiples
| 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) | $35.98 | |||||||||
| Valuation Ratios (Price Multiples) | ||||||||||
| Price to sales (P/S) | 1.52 | 8.61 | 22.68 | 4.29 | 1.87 | 8.26 | 12.21 | |||
| Price to book value (P/BV) | 1.59 | 59.11 | 18.41 | 5.08 | 6.74 | 32.36 | 17.60 | |||
Based on: 10-K (reporting date: 2023-06-30).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Western Digital Corp., historical price multiples
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29).
| Valuation ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Western Digital Corp. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Western Digital Corp. P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Price to Earnings (P/E)
Western Digital Corp., historical P/E calculation, comparison to benchmarks
| Jun 30, 2023 | Jul 1, 2022 | Jul 2, 2021 | Jul 3, 2020 | Jun 28, 2019 | Jun 29, 2018 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 321,895,961 | 314,492,541 | 308,748,049 | 302,525,787 | 296,003,875 | 291,356,809 | |
| Selected Financial Data (US$) | |||||||
| 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
| 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$) | |||||||
| Operating income (loss) (in millions) | (1,285) | 2,391) | 1,220) | 335) | 87) | 3,617) | |
| Operating profit per share2 | -3.99 | 7.60 | 3.95 | 1.11 | 0.29 | 12.41 | |
| Share price1, 3 | 40.42 | 47.91 | 63.24 | 37.84 | 52.66 | 63.81 | |
| Valuation Ratio | |||||||
| P/OP ratio4 | — | 6.30 | 16.00 | 34.17 | 179.17 | 5.14 | |
| Benchmarks | |||||||
| P/OP Ratio, Competitors5 | |||||||
| Apple Inc. | 24.04 | 20.74 | 22.56 | 27.92 | 17.29 | — | |
| Arista Networks Inc. | 36.77 | 28.38 | 43.25 | 33.92 | 21.21 | — | |
| Cisco Systems Inc. | 15.32 | 13.35 | 19.26 | 12.73 | 14.46 | — | |
| Super Micro Computer Inc. | 17.74 | 10.82 | 14.57 | 16.77 | 11.69 | 11.88 | |
| P/OP Ratio, Sector | |||||||
| Technology Hardware & Equipment | 23.23 | 20.04 | 22.36 | 25.40 | 16.81 | — | |
| P/OP Ratio, Industry | |||||||
| Information Technology | 30.04 | 22.84 | 26.04 | 26.62 | 19.84 | — | |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29).
1 Data adjusted for splits and stock dividends.
2 2023 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= -1,285,000,000 ÷ 321,895,961 = -3.99
3 Closing price as at the filing date of Western Digital Corp. Annual Report.
4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 40.42 ÷ -3.99 = —
5 Click competitor name to see calculations.
Price to Sales (P/S)
Western Digital Corp., historical P/S calculation, comparison to benchmarks
| Jun 30, 2023 | Jul 1, 2022 | Jul 2, 2021 | Jul 3, 2020 | Jun 28, 2019 | Jun 29, 2018 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 321,895,961 | 314,492,541 | 308,748,049 | 302,525,787 | 296,003,875 | 291,356,809 | |
| Selected Financial Data (US$) | |||||||
| 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
| 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. |