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Memory·WDC

Western Digital Corporation

NASDAQ · US

Data storage device supplier focused on hard drives and storage systems after the Sandisk separation.

AI relevance

High-capacity storage exposure for AI data lakes, training corpora, and data center archival tiers.

Memory NAND

Price

$746.23

Change

+34.10 (+4.79%)

Market cap

$257.2B

52w range

$59–$800

Exchange

NASDAQ

Country

Jason's Chips

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Price chart

WDC market performance

Daily close for Western Digital Corporation

Latest close: $746.2
Range move: +$687.0 (+1160.7%)
Range high: $746.2
Range low: $59.19
Latest volume: 16.7M
Source: FMP EOD

Downloads

Exports

Download statements, ratios, chart data, and transcript indexes.

CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

79 rows

Available earnings-call transcript dates by fiscal year and quarter.

Download

StreetBuy

Analyst expectations

Consensus target

$479.29

-35.8%

Target range

$250.00 - $685.00

Rating mix

Buy

61 ratings

Next FY revenue

$12.86B

2026-06-27

Next FY EPS

$9.99

$9.82 - $10.60

Rating consensus61 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-27	$12.86B	$12.80B - $12.95B	$9.99	$9.82 - $10.60	$1.58B	$577.1M	$3.67B	$1.10B	17 rev / 11 EPS
2027-06-27	$17.80B	$14.72B - $19.68B	$17.80	$11.20 - $21.76	$2.19B	$798.6M	$6.22B	$1.52B	17 rev / 10 EPS
2028-06-27	$23.11B	$23.08B - $23.13B	$27.24	$20.70 - $33.77	$2.84B	$1.04B	$8.44B	$1.98B	16 rev / 5 EPS
2029-06-27	$27.62B	$24.63B - $30.51B	$37.39	$32.12 - $42.47	$3.40B	$1.24B	$13.42B	$2.37B	8 rev / 1 EPS
2030-06-27	$33.40B	$29.78B - $36.89B	$51.01	$43.82 - $57.95	$4.11B	$1.50B	$18.31B	$2.86B	8 rev / 1 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-07-03	$3.69B	$3.64B - $3.77B	$3.29	$3.22 - $3.49	$453.5M	$165.4M	$1.24B	$315.8M	11 rev / 11 EPS
2026-10-03	$3.96B	$3.30B - $4.25B	$3.68	$2.53 - $4.15	$486.8M	$177.5M	$1.38B	$339.0M	10 rev / 9 EPS
2027-01-03	$4.24B	$3.88B - $4.52B	$4.18	$3.72 - $4.54	$521.2M	$190.1M	$1.57B	$363.0M	5 rev / 5 EPS
2027-04-03	$4.54B	$4.15B - $4.84B	$4.70	$4.18 - $5.10	$558.1M	$203.6M	$1.77B	$388.7M	5 rev / 3 EPS
2027-07-03	$4.86B	$4.45B - $5.18B	$5.28	$4.70 - $5.74	$598.2M	$218.2M	$1.99B	$416.6M	5 rev / 3 EPS
2027-10-03	$5.13B	$4.70B - $5.47B	$5.48	$4.88 - $5.94	$631.0M	$230.1M	$2.06B	$439.5M	5 rev / 5 EPS
2028-01-03	$5.42B	$4.96B - $5.78B	$5.96	$5.31 - $6.47	$666.8M	$243.2M	$2.24B	$464.4M	4 rev / 7 EPS
2028-04-03	$5.69B	$5.21B - $6.07B	$6.34	$5.65 - $6.89	$700.4M	$255.5M	$2.39B	$487.8M	4 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	6	$613.33
Last quarter	20	$508.05
Last year	59	$324.41
All time	111	$204.36

Sources: TheFly, StreetInsider, Benzinga, Pulse 2.0, TipRanks

Latest grade actions

Date	Firm	Action	Previous	New
2026-06-15	Morgan Stanley	Maintain	Overweight	Overweight
2026-06-12	JP Morgan	Maintain	Overweight	Overweight
2026-06-08	Mizuho	Maintain	Outperform	Outperform
2026-06-02	Citigroup	Maintain	Buy	Buy
2026-06-01	Wells Fargo	Maintain	Overweight	Overweight
2026-05-27	Barclays	Maintain	Overweight	Overweight
2026-05-26	Evercore ISI Group	Maintain	Outperform	Outperform
2026-05-04	Baird	Maintain	Outperform	Outperform

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-06-01	4	17	3	1	1
2026-05-01	4	17	4	0	1
2026-04-01	4	17	5	0	1
2026-03-01	4	17	6	0	0
2026-02-01	4	17	6	0	0
2026-01-01	5	17	6	0	1
2025-12-01	5	17	5	0	0
2025-11-01	5	16	6	0	0

FinancialsFY 2025

Financials

Revenue

$9.52B

Gross margin

38.8%

Operating income

$2.33B

Free cash flow

$1.28B

Cash + ST investments

$2.47B

Net debt

$2.97B

ROE

35.0%

ROIC

21.5%

EV / sales

2.6x

EV / EBITDA

12.9x

R&D / revenue

10.4%

Current ratio

1.1x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$9.52B	$3.69B	38.8%	$994.0M	$2.33B	$1.94B	$1.86B	$5.31
FY 2024	$6.32B	$1.77B	28.1%	$950.0M	-$403.0M	$243.0M	-$798.0M	$-2.61
FY 2023	$6.25B	$1.39B	22.2%	$986.0M	-$548.0M	$289.0M	-$1.68B	$-5.37
FY 2022	$18.79B	$5.87B	31.3%	$2.32B	$2.39B	$3.40B	$1.55B	$4.81
FY 2021	$16.92B	$4.52B	26.7%	$2.24B	$1.22B	$2.46B	$821.0M	$2.69
FY 2020	$16.74B	$3.78B	22.6%	$2.26B	$335.0M	$1.93B	-$250.0M	$-0.84
FY 2019	$16.57B	$3.75B	22.6%	$2.18B	$87.0M	$1.99B	-$754.0M	$-2.58
FY 2018	$20.65B	$7.71B	37.3%	$2.40B	$3.62B	$4.82B	$675.0M	$2.27
FY 2017	$19.09B	$6.07B	31.8%	$2.44B	$1.95B	$3.74B	$397.0M	$1.38
FY 2016	$12.99B	$3.44B	26.4%	$1.63B	$466.0M	$1.57B	$242.0M	$1.01
FY 2015	$14.57B	$4.22B	29.0%	$1.65B	$1.61B	$2.74B	$1.47B	$6.31
FY 2014	$15.13B	$4.36B	28.8%	$1.66B	$1.79B	$3.05B	$1.62B	$6.88

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$1.69B	$412.0M	$1.28B
FY 2024	-$294.0M	$487.0M	-$781.0M
FY 2023	-$408.0M	$821.0M	-$1.22B
FY 2022	$1.88B	$1.12B	$773.0M
FY 2021	$1.90B	$1.15B	$895.0M
FY 2020	$824.0M	$647.0M	$177.0M
FY 2019	$1.55B	$876.0M	$790.0M
FY 2018	$4.21B	$835.0M	$3.40B
FY 2017	$3.44B	$578.0M	$2.88B
FY 2016	$1.98B	$584.0M	$1.40B
FY 2015	$2.24B	$612.0M	$1.63B
FY 2014	$2.82B	$628.0M	$2.19B

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$2.47B	$1.49B	$1.29B	$2.47B	$14.00B	$5.08B	$2.97B	$8.69B	$5.31B
FY 2024	$1.55B	$1.23B	$1.39B	$2.36B	$24.19B	$7.82B	$6.27B	$13.37B	$10.82B
FY 2023	$2.02B	$1.60B	$3.70B	$3.62B	$24.55B	$8.47B	$6.45B	$13.58B	$10.96B
FY 2022	$2.33B	$2.80B	$3.64B	$3.67B	$26.26B	$7.62B	$5.29B	$14.04B	$12.22B
FY 2021	$3.37B	$2.26B	$3.62B	$3.19B	$26.13B	$8.72B	$5.36B	$15.41B	$10.72B
FY 2020	$3.05B	$2.38B	$3.07B	$2.85B	$25.66B	$9.57B	$6.53B	$16.11B	$9.55B
FY 2019	$3.46B	$1.20B	$3.28B	$2.84B	$26.37B	$10.52B	$7.07B	$16.40B	$9.97B
FY 2018	$5.00B	$2.20B	$2.94B	$3.10B	$29.23B	$11.17B	$6.17B	$17.70B	$11.53B
FY 2017	$6.35B	$1.95B	$2.34B	$3.03B	$29.86B	$13.15B	$6.80B	$18.44B	$11.42B
FY 2016	$8.38B	$1.46B	$2.13B	$3.50B	$32.86B	$16.99B	$8.84B	$21.72B	$11.14B
FY 2015	$5.29B	$1.53B	$1.37B	$2.96B	$15.18B	$2.56B	-$2.47B	$5.95B	$9.22B
FY 2014	$5.09B	$1.99B	$1.23B	$3.29B	$15.50B	$2.44B	-$2.37B	$6.66B	$8.84B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	38.8%	24.5%	19.5%	1.1x	0.8x	35.0%	21.5%	2.6x	12.9x	5.8%	10.4%	59d
FY 2024	28.1%	-6.4%	-12.6%	1.3x	1.1x	-7.4%	-2.0%	3.9x	102.6x	-4.2%	15.0%	98d
FY 2023	22.2%	-8.8%	-26.9%	1.5x	0.8x	-15.4%	-2.7%	2.5x	53.9x	-13.3%	15.8%	252d
FY 2022	31.3%	12.7%	8.2%	1.8x	1.1x	12.7%	8.1%	0.8x	4.6x	7.6%	12.4%	94d
FY 2021	26.7%	7.2%	4.9%	2.0x	1.3x	7.7%	5.0%	1.3x	8.7x	5.5%	13.3%	86d
FY 2020	22.6%	2.0%	-1.5%	2.1x	1.4x	-2.6%	1.6%	1.0x	8.3x	1.9%	13.5%	72d
FY 2019	22.6%	0.5%	-4.6%	2.2x	1.4x	-7.6%	0.4%	1.1x	9.0x	7.2%	13.2%	66d
FY 2018	37.3%	17.5%	3.3%	2.4x	1.7x	5.9%	4.7%	1.1x	4.9x	19.5%	11.6%	51d
FY 2017	31.8%	10.2%	2.1%	2.5x	2.0x	3.5%	3.9%	1.4x	7.0x	14.9%	12.8%	37d
FY 2016	26.4%	3.6%	1.9%	1.8x	1.5x	2.2%	1.6%	1.3x	11.0x	16.4%	12.5%	44d
FY 2015	29.0%	11.1%	10.1%	2.6x	2.2x	15.9%	12.1%	0.8x	4.1x	11.9%	11.3%	20d
FY 2014	28.8%	11.8%	10.7%	2.3x	1.9x	18.3%	14.0%	0.9x	4.6x	13.4%	11.0%	23d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+50.7%	+108.2%	+4.6%	+679.2%	+333.2%	+303.4%	+264.4%	+16.4%	+59.1%	-6.9%	-42.1%	-35.1%
FY 2024	+1.0%	+27.5%	-3.7%	+26.5%	+52.6%	+51.4%	+35.7%	+39.7%	-23.3%	-62.5%	-1.5%	-7.7%
FY 2023	-66.7%	-76.3%	-57.6%	-122.9%	-208.9%	-211.6%	-257.2%	+27.1%	-13.1%	+1.6%	-6.5%	+11.3%
FY 2022	+11.1%	+29.9%	+3.6%	+96.0%	+88.3%	+78.8%	-13.6%	-10.4%	-30.9%	+0.6%	+0.5%	-12.7%
FY 2021	+1.1%	+19.6%	-0.8%	+264.2%	+428.4%	+420.2%	+405.6%	-55.0%	+10.6%	+17.8%	+1.8%	-8.9%
FY 2020	+1.0%	+0.8%	+3.6%	+285.1%	+66.8%	+67.4%	-77.6%	+14.5%	-11.8%	-6.5%	-2.7%	-9.0%
FY 2019	-19.8%	-51.3%	-9.1%	-97.6%	-211.7%	-213.7%	-76.7%	+6.4%	-31.0%	+11.5%	-9.8%	-5.8%
FY 2018	+8.1%	+26.9%	-1.7%	+85.1%	+70.0%	+64.5%	+17.9%	-45.2%	-21.2%	+25.8%	-2.1%	-15.0%
FY 2017	+46.9%	+76.8%	+50.0%	+319.3%	+64.0%	+36.6%	+105.9%	+4.6%	-24.2%	+10.0%	-9.1%	-22.6%
FY 2016	-10.8%	-18.6%	-1.2%	-71.1%	-83.5%	-84.0%	-14.2%	+4.6%	+58.5%	+55.6%	+116.5%	+564.9%
FY 2015	-3.7%	-3.2%	-0.9%	-10.1%	-9.4%	-8.3%	-25.5%	+2.5%	+3.9%	+11.6%	-2.1%	+4.8%
FY 2014	-1.4%	-0.1%	+5.7%	+41.5%	+65.0%	+69.0%	+1.0%	+34.0%	+18.1%	+3.2%	+10.4%	+24.7%

SegmentsFY 2025

Revenue Mix

Period	Total	Client Devices	Cloud	Data Center Devices & Solutions	Retail Products
FY 2025	$9.52B	$556.0M	$8.34B	--	$623.0M
FY 2024	$13.00B	$4.65B	$5.38B	--	$2.98B
FY 2023	$12.32B	$4.33B	$5.25B	--	$2.74B
FY 2022	$18.79B	$7.08B	$8.02B	--	$3.70B
FY 2021	$16.92B	$11.97B	--	$4.95B	--
FY 2020	$16.74B	$10.51B	--	$6.23B	--
FY 2019	$16.57B	$11.53B	--	$5.04B	--

Period	Total	Asia	Americas	Europe Middle East And Africa	Others
FY 2025	$9.52B	$3.39B	$4.59B	$1.54B	--
FY 2024	$12.62B	$6.90B	$3.58B	$2.13B	--
FY 2023	$11.96B	$6.05B	$3.81B	$2.10B	--
FY 2022	$18.34B	$10.05B	$5.41B	$2.87B	--
FY 2021	$16.92B	$9.46B	$3.79B	$3.06B	$617.0M
FY 2020	$16.74B	$8.37B	$4.68B	$2.93B	$765.0M
FY 2019	$16.57B	$9.10B	$3.60B	$3.11B	$759.0M
FY 2018	$19.66B	$11.17B	$4.64B	$3.86B	--
FY 2017	$19.09B	$10.71B	$3.88B	$3.28B	$1.23B
FY 2016	$12.99B	$6.40B	$3.65B	$2.66B	$277.0M
FY 2015	$14.57B	$7.28B	$3.05B	$3.17B	$1.07B
FY 2014	$14.38B	$8.26B	$3.01B	$3.12B	--

Transcripts

Events

Next earnings

2026-07-29EPS est $3.32

Recent filings

42026-06-11
42026-06-11
8-K2026-06-11

Latest news

Don't Forget About Western Digital Amid Sandisk Euphoria
The Motley Fool · 2026-06-21
Western Digital (WDC) Price Forecast: Is This Rally Nearing Exhaustion?
FXEmpire · 2026-06-19

Analyst expectations

Consensus target

$479.29

-35.8%

Target range

$250.00 - $685.00

Rating mix

Buy

61 ratings

Next FY revenue

$12.86B

2026-06-27

Next FY EPS

$9.99

$9.82 - $10.60

Rating consensus61 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-27	$12.86B	$12.80B - $12.95B	$9.99	$9.82 - $10.60	$1.58B	$577.1M	$3.67B	$1.10B	17 rev / 11 EPS
2027-06-27	$17.80B	$14.72B - $19.68B	$17.80	$11.20 - $21.76	$2.19B	$798.6M	$6.22B	$1.52B	17 rev / 10 EPS
2028-06-27	$23.11B	$23.08B - $23.13B	$27.24	$20.70 - $33.77	$2.84B	$1.04B	$8.44B	$1.98B	16 rev / 5 EPS
2029-06-27	$27.62B	$24.63B - $30.51B	$37.39	$32.12 - $42.47	$3.40B	$1.24B	$13.42B	$2.37B	8 rev / 1 EPS
2030-06-27	$33.40B	$29.78B - $36.89B	$51.01	$43.82 - $57.95	$4.11B	$1.50B	$18.31B	$2.86B	8 rev / 1 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-07-03	$3.69B	$3.64B - $3.77B	$3.29	$3.22 - $3.49	$453.5M	$165.4M	$1.24B	$315.8M	11 rev / 11 EPS
2026-10-03	$3.96B	$3.30B - $4.25B	$3.68	$2.53 - $4.15	$486.8M	$177.5M	$1.38B	$339.0M	10 rev / 9 EPS
2027-01-03	$4.24B	$3.88B - $4.52B	$4.18	$3.72 - $4.54	$521.2M	$190.1M	$1.57B	$363.0M	5 rev / 5 EPS
2027-04-03	$4.54B	$4.15B - $4.84B	$4.70	$4.18 - $5.10	$558.1M	$203.6M	$1.77B	$388.7M	5 rev / 3 EPS
2027-07-03	$4.86B	$4.45B - $5.18B	$5.28	$4.70 - $5.74	$598.2M	$218.2M	$1.99B	$416.6M	5 rev / 3 EPS
2027-10-03	$5.13B	$4.70B - $5.47B	$5.48	$4.88 - $5.94	$631.0M	$230.1M	$2.06B	$439.5M	5 rev / 5 EPS
2028-01-03	$5.42B	$4.96B - $5.78B	$5.96	$5.31 - $6.47	$666.8M	$243.2M	$2.24B	$464.4M	4 rev / 7 EPS
2028-04-03	$5.69B	$5.21B - $6.07B	$6.34	$5.65 - $6.89	$700.4M	$255.5M	$2.39B	$487.8M	4 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	6	$613.33
Last quarter	20	$508.05
Last year	59	$324.41
All time	111	$204.36

Sources: TheFly, StreetInsider, Benzinga, Pulse 2.0, TipRanks

Latest grade actions

Date	Firm	Action	Previous	New
2026-06-15	Morgan Stanley	Maintain	Overweight	Overweight
2026-06-12	JP Morgan	Maintain	Overweight	Overweight
2026-06-08	Mizuho	Maintain	Outperform	Outperform
2026-06-02	Citigroup	Maintain	Buy	Buy
2026-06-01	Wells Fargo	Maintain	Overweight	Overweight
2026-05-27	Barclays	Maintain	Overweight	Overweight
2026-05-26	Evercore ISI Group	Maintain	Outperform	Outperform
2026-05-04	Baird	Maintain	Outperform	Outperform

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-06-01	4	17	3	1	1
2026-05-01	4	17	4	0	1
2026-04-01	4	17	5	0	1
2026-03-01	4	17	6	0	0
2026-02-01	4	17	6	0	0
2026-01-01	5	17	6	0	1
2025-12-01	5	17	5	0	0
2025-11-01	5	16	6	0	0

Financials

Revenue

$9.52B

Gross margin

38.8%

Operating income

$2.33B

Free cash flow

$1.28B

Cash + ST investments

$2.47B

Net debt

$2.97B

ROE

35.0%

ROIC

21.5%

EV / sales

2.6x

EV / EBITDA

12.9x

R&D / revenue

10.4%

Current ratio

1.1x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$9.52B	$3.69B	38.8%	$994.0M	$2.33B	$1.94B	$1.86B	$5.31
FY 2024	$6.32B	$1.77B	28.1%	$950.0M	-$403.0M	$243.0M	-$798.0M	$-2.61
FY 2023	$6.25B	$1.39B	22.2%	$986.0M	-$548.0M	$289.0M	-$1.68B	$-5.37
FY 2022	$18.79B	$5.87B	31.3%	$2.32B	$2.39B	$3.40B	$1.55B	$4.81
FY 2021	$16.92B	$4.52B	26.7%	$2.24B	$1.22B	$2.46B	$821.0M	$2.69
FY 2020	$16.74B	$3.78B	22.6%	$2.26B	$335.0M	$1.93B	-$250.0M	$-0.84
FY 2019	$16.57B	$3.75B	22.6%	$2.18B	$87.0M	$1.99B	-$754.0M	$-2.58
FY 2018	$20.65B	$7.71B	37.3%	$2.40B	$3.62B	$4.82B	$675.0M	$2.27
FY 2017	$19.09B	$6.07B	31.8%	$2.44B	$1.95B	$3.74B	$397.0M	$1.38
FY 2016	$12.99B	$3.44B	26.4%	$1.63B	$466.0M	$1.57B	$242.0M	$1.01
FY 2015	$14.57B	$4.22B	29.0%	$1.65B	$1.61B	$2.74B	$1.47B	$6.31
FY 2014	$15.13B	$4.36B	28.8%	$1.66B	$1.79B	$3.05B	$1.62B	$6.88

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$1.69B	$412.0M	$1.28B
FY 2024	-$294.0M	$487.0M	-$781.0M
FY 2023	-$408.0M	$821.0M	-$1.22B
FY 2022	$1.88B	$1.12B	$773.0M
FY 2021	$1.90B	$1.15B	$895.0M
FY 2020	$824.0M	$647.0M	$177.0M
FY 2019	$1.55B	$876.0M	$790.0M
FY 2018	$4.21B	$835.0M	$3.40B
FY 2017	$3.44B	$578.0M	$2.88B
FY 2016	$1.98B	$584.0M	$1.40B
FY 2015	$2.24B	$612.0M	$1.63B
FY 2014	$2.82B	$628.0M	$2.19B

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$2.47B	$1.49B	$1.29B	$2.47B	$14.00B	$5.08B	$2.97B	$8.69B	$5.31B
FY 2024	$1.55B	$1.23B	$1.39B	$2.36B	$24.19B	$7.82B	$6.27B	$13.37B	$10.82B
FY 2023	$2.02B	$1.60B	$3.70B	$3.62B	$24.55B	$8.47B	$6.45B	$13.58B	$10.96B
FY 2022	$2.33B	$2.80B	$3.64B	$3.67B	$26.26B	$7.62B	$5.29B	$14.04B	$12.22B
FY 2021	$3.37B	$2.26B	$3.62B	$3.19B	$26.13B	$8.72B	$5.36B	$15.41B	$10.72B
FY 2020	$3.05B	$2.38B	$3.07B	$2.85B	$25.66B	$9.57B	$6.53B	$16.11B	$9.55B
FY 2019	$3.46B	$1.20B	$3.28B	$2.84B	$26.37B	$10.52B	$7.07B	$16.40B	$9.97B
FY 2018	$5.00B	$2.20B	$2.94B	$3.10B	$29.23B	$11.17B	$6.17B	$17.70B	$11.53B
FY 2017	$6.35B	$1.95B	$2.34B	$3.03B	$29.86B	$13.15B	$6.80B	$18.44B	$11.42B
FY 2016	$8.38B	$1.46B	$2.13B	$3.50B	$32.86B	$16.99B	$8.84B	$21.72B	$11.14B
FY 2015	$5.29B	$1.53B	$1.37B	$2.96B	$15.18B	$2.56B	-$2.47B	$5.95B	$9.22B
FY 2014	$5.09B	$1.99B	$1.23B	$3.29B	$15.50B	$2.44B	-$2.37B	$6.66B	$8.84B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	38.8%	24.5%	19.5%	1.1x	0.8x	35.0%	21.5%	2.6x	12.9x	5.8%	10.4%	59d
FY 2024	28.1%	-6.4%	-12.6%	1.3x	1.1x	-7.4%	-2.0%	3.9x	102.6x	-4.2%	15.0%	98d
FY 2023	22.2%	-8.8%	-26.9%	1.5x	0.8x	-15.4%	-2.7%	2.5x	53.9x	-13.3%	15.8%	252d
FY 2022	31.3%	12.7%	8.2%	1.8x	1.1x	12.7%	8.1%	0.8x	4.6x	7.6%	12.4%	94d
FY 2021	26.7%	7.2%	4.9%	2.0x	1.3x	7.7%	5.0%	1.3x	8.7x	5.5%	13.3%	86d
FY 2020	22.6%	2.0%	-1.5%	2.1x	1.4x	-2.6%	1.6%	1.0x	8.3x	1.9%	13.5%	72d
FY 2019	22.6%	0.5%	-4.6%	2.2x	1.4x	-7.6%	0.4%	1.1x	9.0x	7.2%	13.2%	66d
FY 2018	37.3%	17.5%	3.3%	2.4x	1.7x	5.9%	4.7%	1.1x	4.9x	19.5%	11.6%	51d
FY 2017	31.8%	10.2%	2.1%	2.5x	2.0x	3.5%	3.9%	1.4x	7.0x	14.9%	12.8%	37d
FY 2016	26.4%	3.6%	1.9%	1.8x	1.5x	2.2%	1.6%	1.3x	11.0x	16.4%	12.5%	44d
FY 2015	29.0%	11.1%	10.1%	2.6x	2.2x	15.9%	12.1%	0.8x	4.1x	11.9%	11.3%	20d
FY 2014	28.8%	11.8%	10.7%	2.3x	1.9x	18.3%	14.0%	0.9x	4.6x	13.4%	11.0%	23d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+50.7%	+108.2%	+4.6%	+679.2%	+333.2%	+303.4%	+264.4%	+16.4%	+59.1%	-6.9%	-42.1%	-35.1%
FY 2024	+1.0%	+27.5%	-3.7%	+26.5%	+52.6%	+51.4%	+35.7%	+39.7%	-23.3%	-62.5%	-1.5%	-7.7%
FY 2023	-66.7%	-76.3%	-57.6%	-122.9%	-208.9%	-211.6%	-257.2%	+27.1%	-13.1%	+1.6%	-6.5%	+11.3%
FY 2022	+11.1%	+29.9%	+3.6%	+96.0%	+88.3%	+78.8%	-13.6%	-10.4%	-30.9%	+0.6%	+0.5%	-12.7%
FY 2021	+1.1%	+19.6%	-0.8%	+264.2%	+428.4%	+420.2%	+405.6%	-55.0%	+10.6%	+17.8%	+1.8%	-8.9%
FY 2020	+1.0%	+0.8%	+3.6%	+285.1%	+66.8%	+67.4%	-77.6%	+14.5%	-11.8%	-6.5%	-2.7%	-9.0%
FY 2019	-19.8%	-51.3%	-9.1%	-97.6%	-211.7%	-213.7%	-76.7%	+6.4%	-31.0%	+11.5%	-9.8%	-5.8%
FY 2018	+8.1%	+26.9%	-1.7%	+85.1%	+70.0%	+64.5%	+17.9%	-45.2%	-21.2%	+25.8%	-2.1%	-15.0%
FY 2017	+46.9%	+76.8%	+50.0%	+319.3%	+64.0%	+36.6%	+105.9%	+4.6%	-24.2%	+10.0%	-9.1%	-22.6%
FY 2016	-10.8%	-18.6%	-1.2%	-71.1%	-83.5%	-84.0%	-14.2%	+4.6%	+58.5%	+55.6%	+116.5%	+564.9%
FY 2015	-3.7%	-3.2%	-0.9%	-10.1%	-9.4%	-8.3%	-25.5%	+2.5%	+3.9%	+11.6%	-2.1%	+4.8%
FY 2014	-1.4%	-0.1%	+5.7%	+41.5%	+65.0%	+69.0%	+1.0%	+34.0%	+18.1%	+3.2%	+10.4%	+24.7%

Revenue Mix