Western Digital (WDC) FY2025 10-K Annual Report
Western Digital (WDC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Aug 14, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Western Digital FY2025 10-K Analysis
Business Overview
- • Core business model: Developer and manufacturer of hard disk drive (HDD) technology for data storage in cloud, enterprise, edge, and consumer markets
- • Strategic separation of HDD and Flash units on Feb 21, 2025, creating independent Western Digital (HDD) and Sandisk (Flash) companies
Management Discussion & Analysis
- • Revenue $9.52B, up 51% YoY from $6.32B in 2024, driven by 29% higher ASP and 15% higher units sold, mainly in Cloud segment
- • Operating margin 24.5% vs (6.4%) in 2024, gross margin 38.8% vs 28.1%, improvement driven by cost efficiencies and better product mix
Risk Factors
- • Internal Revenue Service audit uncertainty with potential significant unrecognized tax benefits impacting financials
- • Cloud end market concentration: 88% of total revenue, top 3 customers each >10% net revenue increasing customer dependence
Western Digital FY2025 Key Financial MetricsXBRL
Revenue
$9.5B
▼ -26.8% YoY
Net Income
$1.9B
▲ +336.7% YoY
Gross Margin
38.8%
▲ +1613bp YoY
Operating Margin
24.5%
▲ +2695bp YoY
Net Margin
19.8%
▲ +2598bp YoY
ROE
35.6%
▲ +4294bp YoY
Total Assets
$14.0B
▼ -42.1% YoY
EPS (Diluted)
$5.12
▲ +296.2% YoY
Operating Cash Flow
$1.7B
▲ +675.2% YoY
Source: XBRL data from Western Digital FY2025 10-K filing on SEC EDGAR. All figures in USD.
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