Western Digital Corporation (WDC)财务
NASDAQ · Technology · Computer Hardware · 员工40,000人 · CEO Tiang Yew Tan
- 股价
- $366.11 -7.41%
- 市值
- $1370亿
- 企业价值
- $1370亿
- 最近财报
- Q1 '27 2026-10-23提交
营收(TTM)$145亿+43.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)39.4%+11.8 百分点 对比去年同期营业利润 $57.1亿
净利润(TTM)$100亿+288.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$42.9亿+121.1% 对比去年同期资本支出 $5.72亿
稀释EPS(TTM)$26.38+283.4% 对比去年同期最近4个季度之和
净现金$5.25亿+125.8% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1370亿 EV $1370亿
- 营收
- $145亿 过去12个月
- 营收增速
- +64% FY2027年一致预期
- 净利润率
- 69.2% 净利润 / 营收,TTM
- P/E
- 12.8× 预期 14.8×(FY2027)
- P/S
- 9.5× 股价 / 营收,TTM
- EV / EBITDA
- 21.8× TTM
- 自由现金流
- $42.9亿 过去12个月
- 净利润
- $100亿 过去12个月
- 营收预期
- $212亿 FY2027年一致预期
- 盈利
- –
- 股息
- $0.50 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-22):营收超预期5.7%,EPS 超预期12.9%营收$43.8亿,预期$41.4亿(+5.7%);EPS $4.64,预期$4.11(+12.9%)。
- 营收增长加速:同比55.5%Q1 '27营收$43.8亿,此前四个季度的平均值为35.5%。
- 营业利润率39.4%(TTM),较去年同期+11.8 百分点营收增长43.0%,营业利润增长104.4%。
- 税前利润的46.2%来自营业外收益税前利润$106亿,营业利润$57.1亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的3.9%(去年为3.8%)最近4个季度投入$5.72亿(同比+47.0%)。自由现金流$42.9亿,相当于净利润的42.8%。
- 股东回报$32.4亿 = 自由现金流的75.4%回购$30.4亿(去年为$7.02亿),股息$1.96亿,股权激励$2.3亿(TTM)。
- 稀释股数一年内增加2.1%Q1 '27稀释股数3.84亿,一年前为3.76亿。
- 净现金 $5.25亿现金 + 短期投资 $13.1亿,含租赁债务 $7.89亿;一年前净债务 $20.3亿。
上一季度:Q1 '27
截至2026-10-02的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q1 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $43.8亿 | $28.2亿 | +55.5% |
| 毛利率 | 57.8% | 43.5% | +14.3 百分点 |
| 营业利润 | $20.5亿 | $7.92亿 | +158.3% |
| 营业利润率 | 46.7% | 28.1% | +18.6 百分点 |
| 净利润 | $17.8亿 | $11.8亿 | +50.5% |
| 稀释EPS | $4.63 | $3.07 | +50.8% |
| 经营现金流 | $16亿 | $6.72亿 | +138.7% |
| 资本支出 | $2.27亿 | $7300万 | +211.0% |
| 自由现金流 | $13.8亿 | $5.99亿 | +129.9% |
| R&D | $2.83亿 | $2.94亿 | -3.7% |
| 股权激励费用 | $7900万 | $5300万 | +49.1% |
实际 vs 一致预期
2026-10-22| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $43.8亿 | $41.4亿 | +5.7% |
| EPS(一致预期口径) | $4.64 | $4.11 | +12.9% |
来自2026-10-22发布的Q1 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q1 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Cloud | $38.7亿 | – | 88.3% | – | – | |
| Client Devices | $3.2亿 | – | 7.3% | – | – | |
| Retail Products | $1.93亿 | – | 4.4% | – | – |
按地区划分的营收
占总额比例| 分部 | Q1 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas | $20.8亿 | – | 47.5% | – | – | |
| Asia | $17.1亿 | – | 39.0% | – | – | |
| Europe Middle East And Africa | $5.92亿 | – | 13.5% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $48.6亿
- 资本支出
- -$5.72亿
- 股票回购
- -$30.4亿
- 股息
- -$1.96亿
- 收购
- $0
- 债务净发行
- -$6.07亿
- 股权激励费用
- $2.3亿
- 自由现金流
- $42.9亿
- 股东回报 / FCF
- 75.4%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 12.8× | 12.9× 5年中的3年 | 6.8× – 20.0× |
| EV / EBITDA | 21.8× | 332.4× | 4.3× – 1,556.5× |
| EV / 营收 | 9.4× | 4.8× | 0.8× – 14.4× |
| 股价 / FCF | 32.0× | 27.8× 5年中的3年 | 13.2× – 53.0× |
| 股价 / 净资产 | 14.3× | 5.7× | 0.8× – 21.0× |
| FCF收益率 | 3.1% | -0.4% | -13.3% – 7.6% |
| 投入资本回报率 | 49.3% | 12.9% | -2.7% – 39.7% |
| 净资产收益率 | 113.8% | 26.4% | -15.4% – 106.3% |
分析师
一致目标价 $617.15 (+68.6%)
区间 $405.00 – $1,050.00 · 评级 Buy
强烈买入0
买入44
持有16
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $212亿 | +64.4% | $24.73 | +1.9% | 14.8× | 13 |
| FY2028 | $302亿 | +42.3% | $40.43 | +63.5% | 9.1× | 12 |
| FY2029 | $366亿 | +21.1% | $54.03 | +33.6% | 6.8× | 5 |
| FY2030 | $432亿 | +18.1% | $69.22 | +28.1% | 5.3× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Western Digital Corporation在近期10-Q / 10-K文件中标记的全部318项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | -$2000万 | – | – | |
| – | – | – | 0.0% | – | – | |
| – | – | – | $1.12亿 | – | – | |
| – | – | – | $5.06亿 | – | – | |
| – | – | – | $4900万 | – | – | |
| Accounts Payable, Current | $18.6亿 | $15.3亿 | +21.0% | $17.7亿 | $12.7亿 | +40.1% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $22.3亿 | $13.6亿 | +64.7% | $20.3亿 | $14.9亿 | +36.3% |
| Accounts Receivable, Held-for-sale | – | – | – | $02025-06-27 | $0 | – |
| Accrued Income Taxes, Current | $3.04亿 | $2.98亿 | +2.0% | $1.73亿 | $8亿 | -78.4% |
| Accrued Income Taxes, Noncurrent | – | – | – | $02025-06-27 | $2亿 | -100.0% |
| Accrued Liabilities, Current | $6.75亿 | $7.03亿 | -4.0% | $6.9亿 | $7.19亿 | -4.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $70.4亿 | $67.9亿 | +3.7% | $69.8亿 | $67.4亿 | +3.5% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | -$5300万2026-07-03 | -$2700万 | -96.3% | -$5300万 | -$2700万 | -96.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $2400万 | $1400万 | +71.4% | $2300万 | $2000万 | +15.0% |
| Additional Paid in Capital | $6600万 | $45.5亿 | -98.5% | $9.61亿 | $46.2亿 | -79.2% |
| Advertising Expense | – | – | – | $2500万 | $3200万 | -21.9% |
| Amortization of Debt Issuance Costs and Discounts | – | – | – | $2300万2025-06-27 | $1900万 | +21.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | – | – | – | 0 | 0 | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $7900万 | – | – | $2.04亿 | $2.65亿 | -23.0% |
| Assets | $142亿 | $144亿 | -0.8% | $139亿 | $140亿 | -1.0% |
| Assets, Current | $58.7亿 | $62.8亿 | -6.5% | $56.3亿 | $58.6亿 | -3.8% |
| Assets, Fair Value Disclosure | $2500万 | – | – | $6900万 | $6.49亿 | -89.4% |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $2.16亿 | $9900万 | +118.2% |
| Cash and Cash Equivalents, at Carrying Value | $13.1亿 | $20.5亿 | -35.8% | $15.8亿 | $21.1亿 | -25.3% |
| Cash and Cash Equivalents, Fair Value Disclosure | $2300万 | – | – | $6700万 | $2.85亿 | -76.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $13.1亿 | $20.5亿 | -35.8% | $15.8亿 | $21.1亿 | -25.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$2.65亿 | – | – | -$5.35亿 | $2.35亿 | -327.7% |
| Common Stock, Dividends, Per Share, Declared | $0.15 | – | – | $0.50 | $0.10 | +400.0% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 7.5亿 | 7.5亿 | 0.0% | 7.5亿 | 7.5亿 | 0.0% |
| Common Stock, Shares, Issued | 3.74亿 | 3.49亿 | +7.2% | 3.64亿 | 3.49亿 | +4.3% |
| Common Stock, Shares, Outstanding | 3.74亿 | 3.42亿 | +9.4% | 3.61亿 | 3.47亿 | +4.0% |
| Common Stock, Value, Issued | – | – | – | $300万2025-06-27 | $300万 | 0.0% |
| Common Stock, Value, Outstanding | $400万 | $300万 | +33.3% | $400万 | $300万 | +33.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $17.8亿 | – | – | $94.3亿 | $20.8亿 | +354.3% |
| Cost of Goods and Services Sold | $18.5亿 | – | – | $66.1亿 | $58.3亿 | +13.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.25亿 | $9000万 | +38.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.89亿 | $2.13亿 | -11.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $3.52亿 | $3.02亿 | +16.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $3800万 | -$100万 | +3,900.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $200万 | $3400万 | -94.1% | $800万 | $3800万 | -78.9% |
| Debt Instrument, Unamortized Discount (Premium), Net | – | – | – | $3800万2025-06-27 | $5400万 | -29.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.93亿 | -$7.73亿 | +125.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$6400万 | -$100万 | -6,300.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $1.29亿 | -$8.15亿 | +115.8% |
| Deferred Income Taxes and Other Assets, Noncurrent | $9.05亿 | $9.53亿 | -5.0% | $8.72亿 | $10.1亿 | -13.4% |
| Deferred Income Taxes and Tax Credits | -$3000万 | – | – | $1.29亿 | -$7.45亿 | +117.3% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $0 | -$4100万 | +100.0% |
| Deferred Tax Assets, Derivative Instruments | $2200万2026-07-03 | $1.66亿 | -86.7% | $2200万 | $1.66亿 | -86.7% |
| Deferred Tax Assets, Gross | $16.6亿2026-07-03 | $18亿 | -7.6% | $16.6亿 | $18亿 | -7.6% |
| Deferred Tax Assets, Net | $8.67亿2026-07-03 | $10亿 | -13.3% | $8.67亿 | $10亿 | -13.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $3700万2026-07-03 | $3700万 | 0.0% | $3700万 | $3700万 | 0.0% |
| Deferred Tax Assets, Operating Loss Carryforwards | $1.14亿2026-07-03 | $1.33亿 | -14.3% | $1.14亿 | $1.33亿 | -14.3% |
| Deferred Tax Assets, Other | $4400万2026-07-03 | $2900万 | +51.7% | $4400万 | $2900万 | +51.7% |
| Deferred Tax Assets, Property, Plant and Equipment | $7.48亿2026-07-03 | $7.96亿 | -6.0% | $7.48亿 | $7.96亿 | -6.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | $1.01亿2026-07-03 | $7500万 | +34.7% | $1.01亿 | $7500万 | +34.7% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves | $7100万2026-07-03 | $3800万 | +86.8% | $7100万 | $3800万 | +86.8% |
| Deferred Tax Assets, Valuation Allowance | $6.11亿2026-07-03 | $5.98亿 | +2.2% | $6.11亿 | $5.98亿 | +2.2% |
| Deferred Tax Liabilities, Gross | $1.84亿2026-07-03 | $2.01亿 | -8.5% | $1.84亿 | $2.01亿 | -8.5% |
| Deferred Tax Liabilities, Other | $100万2026-07-03 | $1200万 | -91.7% | $100万 | $1200万 | -91.7% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-10-02, 10-K 2026-07-03, 10-Q 2026-04-03, 10-Q 2026-01-02, 10-Q 2025-10-03, 10-K 2025-06-27, 10-Q 2025-03-28, 10-Q 2024-12-27, 10-Q 2024-09-27
数据截至 2026-11-01