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WDC (Western Digital) Piotroski F-Score : 6 (As of Jul. 10, 2025)


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What is Western Digital Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Western Digital has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Western Digital's Piotroski F-Score or its related term are showing as below:

WDC' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Western Digital was 8. The lowest was 1. And the median was 6.


Western Digital Piotroski F-Score Historical Data

The historical data trend for Western Digital's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Western Digital Piotroski F-Score Chart

Western Digital Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 7.00 7.00 2.00 4.00

Western Digital Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 4.00 7.00 7.00 6.00

Competitive Comparison of Western Digital's Piotroski F-Score

For the Computer Hardware subindustry, Western Digital's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Western Digital's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Western Digital's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Western Digital's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 39 + 493 + 594 + 524 = $1,650 Mil.
Cash Flow from Operations was 366 + 34 + 403 + 508 = $1,311 Mil.
Revenue was 8690 + 4095 + 4285 + 2294 = $19,364 Mil.
Gross Profit was 1869 + 1551 + 1516 + 912 = $5,848 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(23801 + 24188 + 24771 + 25456 + 16368) / 5 = $22916.8 Mil.
Total Assets at the begining of this year (Mar24) was $23,801 Mil.
Long-Term Debt & Capital Lease Obligation was $4,907 Mil.
Total Current Assets was $8,086 Mil.
Total Current Liabilities was $5,182 Mil.
Net Income was -709 + -685 + -287 + 127 = $-1,554 Mil.

Revenue was 2672 + 2750 + 3032 + 1752 = $10,206 Mil.
Gross Profit was 92 + 99 + 492 + 519 = $1,202 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(25151 + 24546 + 24001 + 24385 + 23801) / 5 = $24376.8 Mil.
Total Assets at the begining of last year (Mar23) was $25,151 Mil.
Long-Term Debt & Capital Lease Obligation was $7,318 Mil.
Total Current Assets was $7,532 Mil.
Total Current Liabilities was $4,053 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Western Digital's current Net Income (TTM) was 1,650. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Western Digital's current Cash Flow from Operations (TTM) was 1,311. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=1650/23801
=0.06932482

ROA (Last Year)=Net Income/Total Assets (Mar23)
=-1554/25151
=-0.06178681

Western Digital's return on assets of this year was 0.06932482. Western Digital's return on assets of last year was -0.06178681. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Western Digital's current Net Income (TTM) was 1,650. Western Digital's current Cash Flow from Operations (TTM) was 1,311. ==> 1,311 <= 1,650 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=4907/22916.8
=0.21412239

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=7318/24376.8
=0.30020347

Western Digital's gearing of this year was 0.21412239. Western Digital's gearing of last year was 0.30020347. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=8086/5182
=1.56040139

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=7532/4053
=1.85837651

Western Digital's current ratio of this year was 1.56040139. Western Digital's current ratio of last year was 1.85837651. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Western Digital's number of shares in issue this year was 358. Western Digital's number of shares in issue last year was 335. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=5848/19364
=0.30200372

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1202/10206
=0.11777386

Western Digital's gross margin of this year was 0.30200372. Western Digital's gross margin of last year was 0.11777386. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=19364/23801
=0.81357926

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=10206/25151
=0.40578903

Western Digital's asset turnover of this year was 0.81357926. Western Digital's asset turnover of last year was 0.40578903. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+0+0+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Western Digital has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Western Digital  (NAS:WDC) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Western Digital Piotroski F-Score Related Terms

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Western Digital Business Description

Address
5601 Great Oaks Parkway, San Jose, CA, USA, 95119
Western Digital is a leading, vertically integrated supplier of hard disk drives. The HDD market is a practical duopoly with, Western Digital and Seagate being the two largest players. Western Digital designs and manufacturers its HDDs, with much of the manufacturing and workforce located in Asia. The primary consumers of HDDs are data centers.
Executives
Gene M. Zamiska officer: Principal Accounting Officer C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Robert Soderbery officer: EVP & GM, Flash Business C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
David Goeckeler director, officer: Chief Executive Officer C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Kimberly Alexy director 500 MCCARTHY BLVD., MILPITAS CA 95035
Reed B Rayman director 6775 LENOX CENTER COURT, SUITE 400, MEMPHIS TN 38115
Wissam G Jabre officer: EVP & CFO C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Paula A Price director ONE CVS DRIVE, WOONSOCKET RI 02895
Miyuki Suzuki director C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Thomas Caulfield director C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Lori S Sundberg officer: EVP & Chief Human Res Officer 400 NORTH FIFTH STREET, PHOENIX AZ 85004
Michael Charles Ray officer: Sr. VP, Gen Cnsl & Secretary C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Sean Hunkler officer: EVP, Global Operations C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Michael D Cordano officer: President, HGST Subsidiary C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Stephen D Milligan officer: Sr. V.P. & CFO C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Matthew E Massengill director, officer: Chairman and CEO C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119