WESTERN DIGITAL CORP (WDC) closed fiscal year 2025 with a gross margin of 38.8 % and a net margin of 19.8 %.
WESTERN DIGITAL CORP (WDC) closed fiscal year 2025 with a gross margin of 38.8 % and a net margin of 19.8 %. The same year shows an EBITDA margin of 29.3 % and an EBIT margin of 24.5 %. The free cash flow margin was 13.4 %. Against the previous year the gross margin moved +10.7 pp and the net margin +32.5 pp. Across the period the gross margin ranges between 17.9 % in 2009 and 38.8 % in 2025. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: July
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 21.54 % | 17.94 % | 24.38 % | 18.80 % | 29.16 % | 28.42 % | 28.82 % | 28.97 % | 26.44 % | 31.80 % | 37.32 % | 22.64 % | 22.59 % | 26.72 % | 31.26 % | 22.24 % | 28.07 % | 38.78 % |
| EBITDA margin (%) | 17.57 % | 13.39 % | 20.66 % | 14.52 % | 20.80 % | 16.28 % | 20.06 % | 18.70 % | 12.47 % | 21.38 % | 27.48 % | 11.46 % | 11.36 % | 14.37 % | 17.67 % | 4.48 % | 2.61 % | 29.25 % |
| EBIT margin (%) | 12.46 % | 6.96 % | 15.48 % | 8.20 % | 14.19 % | 8.25 % | 11.84 % | 11.06 % | 3.59 % | 10.23 % | 17.52 % | 0.53 % | 2.00 % | 7.21 % | 12.72 % | -8.76 % | -6.38 % | 24.52 % |
| Net margin (%) | 10.74 % | 6.31 % | 14.03 % | 7.62 % | 12.92 % | 6.38 % | 10.69 % | 10.05 % | 1.86 % | 2.08 % | 3.27 % | -4.55 % | -1.49 % | 4.85 % | 8.23 % | -26.92 % | -12.63 % | 19.84 % |
| FCF margin (%) | 9.71 % | 10.55 % | 12.23 % | 9.21 % | 18.83 % | 14.12 % | 14.46 % | 11.19 % | 10.77 % | 14.97 % | 16.32 % | 4.05 % | 1.06 % | 4.44 % | 4.03 % | -19.65 % | -12.36 % | 13.43 % |
