WDC · Full Picture

WESTERN DIGITAL CORP — the full picture

Trailing window · 2026-05-12 to 2026-08-10

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Guidance and Outlook · Guidance & outlookPriority 88
    +35.0% net_income; 2 sources (news, press_release); 4 forward row(s); quote_verified
    Q1FY27 revenue guidance (non-GAAP): $4.1 billion +/- $100 million (implying a range of $4.0B to $4.2B) and expected to be up 42% to 49% year-over-year
  2. Liquidity and Debt Position · UnclassifiedPriority 79
    -24.2% net_income (realized); 2 sources (news, press_release); quote_verified
    Long-term debt at July 3, 2026: $0 million (down from $2,485 million at June 27, 2025)
  3. Gross Margin Drivers · Gross marginPriority 73
    -0.1% operating_income; 2 sources (news, press_release); 1 forward row(s); quote_verified
    GAAP Q4FY26 gross margin: 54.1%, up 1310 basis points year-over-year and up 390 basis points sequentially
  4. Revenue Performance and Mix · Revenue growth & mixPriority 72
    +121.2% revenue (realized); 2 sources (news, press_release); quote_verified
    Q4FY26 revenue: $3,747 million, up 44% year-over-year and up 12% quarter-over-quarter
  5. Income Tax Rate Changes · TaxPriority 71
    -12.8% net_income (realized); quote_verified
    Q1FY27 non-GAAP tax rate guidance: approximately 17%
  6. Operating Income and Margins · Operating income & profitabilityPriority 71
    -0.9% net_income; 1 forward row(s); quote_verified
    GAAP Q4FY26 operating income: $1,563 million, up 130% year-over-year and up 31% sequentially
  7. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 63
    quote_verified
    Separation Date of Flash business into Sandisk: February 21, 2025; Sandisk results are no longer consolidated into WD after that date
  8. Capital Return Program · Buybacks & dividendsPriority 60
    2 sources (news, press_release); 1 forward row(s); quote_verified
    Repurchases of common stock in Q4FY26: $672 million and for fiscal year 2026: $2,592 million
  9. Operating Cash Flow Trends · Cash flow generationPriority 55
    quote_verified
    Net cash provided by operating activities for the year ended July 3, 2026: $3,929 million (up from $1,691 million prior year)
  10. AI Storage Contract Visibility · UnclassifiedPriority 54
    2 forward row(s); quote_verified
    Western Digital said AI storage contract talks extend as far as 2031, securing capacity up to five years in advance for AI infrastructure customers.
  11. Strategic Business Separation · UnclassifiedPriority 53
    quote_verified
    Seeking Alpha and others described Western Digital as a pure-play HDD storage provider post-Sandisk spin-off, with cloud representing 89% of revenue.
  12. HDD Pricing and Supply · Pricing & realizationPriority 52
    quote_verified
    Morningstar said pricing hikes exceeded expectations and Western Digital is securing long-term customer agreements extending through 2031.

Threads by pillar

Revenue & Demand Priority 78 · 4 threads

Costs & Margins Priority 78 · 4 threads

Capital & Balance Sheet Priority 78 · 4 threads

Strategy & Portfolio Priority 63 · 1 thread

Legal, Regulatory & Policy Priority 41 · 1 thread

Guidance & Outlook Priority 88 · 1 thread

Unclassified Priority 83 · 4 threads

Expected impact by metric

metricforward netforward grossrealized
net_income+34.1%+36.4%+62.6%
operating_income-0.9%+0.9%+104.8%
margin——+78.0%
revenue——+121.2%