Western Digital Corporation (WDC)

Net profit margin

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020
Net income (ttm) US$ in thousands 1,880,000 1,637,000 1,248,000 380,000 -798,000 -1,552,000 -2,259,000 -2,418,000 -1,706,000 -690,000 -93,000 917,000 1,500,000 1,821,000 1,993,000 1,491,000 821,000 347,000 167,000 -34,000
Revenue (ttm) US$ in thousands 13,279,000 14,438,000 15,601,000 14,348,000 13,003,000 11,911,000 11,257,000 11,332,000 12,318,000 14,174,000 15,752,000 17,478,000 18,793,000 19,185,000 18,941,000 18,051,000 16,922,000 16,289,000 16,327,000 16,618,000
Net profit margin 14.16% 11.34% 8.00% 2.65% -6.14% -13.03% -20.07% -21.34% -13.85% -4.87% -0.59% 5.25% 7.98% 9.49% 10.52% 8.26% 4.85% 2.13% 1.02% -0.20%

June 30, 2025 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $1,880,000K ÷ $13,279,000K
= 14.16%

The net profit margin of Western Digital Corporation has exhibited significant fluctuations from September 30, 2020, through June 30, 2025. Initially, the company experienced a loss of -0.20% as of September 30, 2020, indicating a period of unprofitability. By the end of 2020, the margin had improved to 1.02%, signaling a shift towards profitability. This positive trend continued into 2021, with margins rising to 2.13% in March and further increasing to 4.85% by June 2021. The most substantial improvement occurred between September 2021 and December 2021, with the margin reaching 10.52%, reflecting a period of robust profitability.

However, starting in early 2022, the net profit margin began to decline. From a peak of approximately 10.52% at the end of 2021, the margin decreased to 9.49% in March 2022, then further to 7.98% by June 2022, and 5.25% by September 2022. The decline intensified into 2023, with margins dipping into negative territory, reaching -0.59% at the end of 2022 and worsening to -4.87% in March 2023. The trend of rising losses persisted into June 2023, with a margin of -13.85%, and continued into September 2023, where it was at -21.34%. The negative margin persisted through December 2023 and March 2024, though with slight improvements, at -20.07% and -13.03% respectively.

From mid-2024 onward, the company showed signs of recovery; the net profit margin turned positive again, reaching 2.65% by September 2024 and improving further to 8.00% by December 2024. The upward trend continued into 2025, with the margin rising to 11.34% in March and reaching 14.16% by June 2025. Overall, the data indicates a period of initial recovery and growth in profitability during 2021, followed by a sharp decline through 2022 and 2023, and a gradual return to profitability beginning in late 2024 and into mid-2025.


Peer comparison

Jun 30, 2025

Company name
Symbol
Net profit margin
Western Digital Corporation
WDC
14.16%
NetApp Inc
NTAP
18.05%
Pure Storage Inc
PSTG
3.37%
Seagate Technology PLC
STX
17.49%

See also:

Western Digital Corporation Net Profit Margin (Quarterly Data)