Western Digital FY2026: revenue $12.92 billion, up 36.0%
Western Digital closed FY2026 with revenue of $12.92 billion, up 36.0%, and Q4 growth of 44.0% year over year, the best quarter in the sequence we were given. The view is Bullish, with one caveat: GAAP EPS of $24.28 leans on a $6.50 billion one-off gain on the retained Sandisk stake, so the non-GAAP $10.22 is the cleaner read on storage.
1 · Expected vs. Actual
Free preview belowQ4 non-GAAP diluted EPS of $3.56 beat the $3.3281 consensus figure in the input and roughly doubled the prior-year $1.70. GAAP EPS tells a different story: $8.21 for the quarter and $24.28 for the year, against non-GAAP's $10.22, because GAAP profit contains a $6.50 billion non-cash gain on the retained Sandisk interest. Treat the non-GAAP number as the cleaner read on the storage business.
Full-year revenue of $12.92 billion was 36.0% above the $9.52 billion of FY2025, and the year built steadily: $2.82 billion, $3.02 billion, $3.34 billion and $3.75 billion across the four quarters we were given. Q4 revenue rose 44.0% year over year, and gross margin climbed to 54.1% from 41.0% in the prior-year quarter.
Log in to read 5 analyses a week for free
Create a free account to read 5 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.