Western Digital reported $9,520 million in fiscal 2025 revenue and shipped 696 exabytes during the fiscal year ended June 27, 2025. The figures below cover the company’s reported operating scale, end markets, geography, costs, liquidity, assets, commitments and shareholder-return activity; fiscal years are not calendar years.
Key Western Digital Statistics
The most broadly useful figures are:
- In fiscal 2025, Western Digital reported $9,520 million in consolidated revenue.
- In fiscal 2025, Western Digital shipped 696 exabytes worldwide.
- In fiscal 2025, Cloud revenue reached $8,341 million.
- In fiscal 2025, Client revenue was $556 million.
- In fiscal 2025, Consumer revenue was $623 million.
- In fiscal 2025, Americas revenue was $4,592 million.
- In fiscal 2025, Asia revenue was $3,392 million.
- In fiscal 2025, Europe, the Middle East and Africa revenue was $1,536 million.
- In fiscal 2025, the top 10 customers represented 68% of net revenue.
- In fiscal 2025, research and development expense was $994 million.
- In fiscal 2025, net cash provided by operating activities was $1,691 million.
- At June 27, 2025, cash and cash equivalents totaled $2,114 million.
- At June 27, 2025, total assets were $14,002 million.
- At June 27, 2025, inventories totaled $1,291 million.
- At June 27, 2025, total debt before issuance costs was $4,749 million.
- On May 9, 2025, the board authorized up to $2.0 billion in share repurchases.
Contents
- Key Western Digital Statistics
- Western Digital Revenue, Shipments and Operating Scale
- Western Digital Cloud, Client and Consumer Revenue
- Western Digital Revenue by Geography and Customer Concentration
- Western Digital Research, Development and Operating Costs
- Western Digital Cash Flow, Liquidity and Capital Spending
- Western Digital Assets, Inventory and Manufacturing Footprint
- Western Digital Debt, Commitments and Shareholder Returns
Western Digital Revenue, Shipments and Operating Scale
Western Digital’s reported consolidated revenue rose from $6,255 million in fiscal 2023 to $6,317 million in fiscal 2024 and $9,520 million in fiscal 2025. These are company-reported fiscal-year figures for the years ended June 30, 2023, June 28, 2024 and June 27, 2025.
| Fiscal year | Revenue | Exabytes shipped |
|---|---|---|
| 2023 | $6,255 million | 412 |
| 2024 | $6,317 million | 443 |
| 2025 | $9,520 million | 696 |
Source: Western Digital Corporation Form 10-K for the fiscal year ended June 27, 2025.
Exabytes shipped measure shipment volume, not the installed base or end-user storage capacity. Within the consolidated Western Digital HDD business, the average selling price per unit increased 29% in fiscal 2025 versus fiscal 2024, while units sold increased 15% over the same comparison.
The fiscal 2025 comparison should also be read in light of Western Digital’s separation of its HDD and Flash businesses, completed on February 21, 2025. The supplied filing presents the figures in the company’s reported continuing-business context.
Western Digital Cloud, Client and Consumer Revenue
Management classifies end-market revenue as Cloud, Client and Consumer. Cloud revenue was the largest reported category in each year shown and reached $8,341 million in fiscal 2025.
| End market | Fiscal 2023 | Fiscal 2024 | Fiscal 2025 |
|---|---|---|---|
| Cloud | $4,753 million | $5,052 million | $8,341 million |
| Client | $691 million | $577 million | $556 million |
| Consumer | $811 million | $688 million | $623 million |
Source: Western Digital Corporation Form 10-K for the fiscal year ended June 27, 2025.
These are end-market revenue measures, not counts of cloud customers, client devices, consumer users or storage installations. The categories are management’s classification, so they should not be treated as independently measured populations or market-share estimates.
The three reported categories also illustrate why a single company total needs context: Cloud revenue was $8,341 million in fiscal 2025, while Client revenue was $556 million and Consumer revenue was $623 million. Each amount covers the consolidated company’s fiscal 2025 reporting period.
Western Digital Revenue by Geography and Customer Concentration
Western Digital reported fiscal 2025 revenue by geographic end-market grouping and by customer ship-to location. The geographic groupings are not interchangeable: the first describes reported end-market geography, while ship-to data identifies where revenue was shipped.
| Reported geography or ship-to location | Fiscal 2025 revenue |
|---|---|
| Americas end-market grouping | $4,592 million |
| Asia end-market grouping | $3,392 million |
| Europe, Middle East and Africa end-market grouping | $1,536 million |
| United States ship-to location | $4,328 million |
| China ship-to location | $1,549 million |
| Hong Kong ship-to location | $1,051 million |
Source: Western Digital Corporation Form 10-K for the fiscal year ended June 27, 2025.
The United States, China and Hong Kong amounts are ship-to figures, not necessarily customer headquarters or end-user locations. Revenue by geography is therefore best used as a description of the company’s reported commercial distribution rather than a direct measure of user adoption in each place.
Customer concentration was substantial in the same fiscal year. The top 10 customers represented 68% of net revenue in fiscal 2025, compared with 55% in fiscal 2024; the three largest customers represented 17%, 12% and 10% of fiscal 2025 net revenue, respectively, with identities not specified in the supplied statistic.
Western Digital Research, Development and Operating Costs
Research and development expense was $994 million in fiscal 2025, following $950 million in fiscal 2024 and $986 million in fiscal 2023. These expenses are recognized under the company’s accounting policies and are not direct measures of research headcount or individual project spending.
| Expense category | Fiscal 2023 | Fiscal 2024 | Fiscal 2025 |
|---|---|---|---|
| Research and development | $986 million | $950 million | $994 million |
| Selling, general and administrative | $807 million | $726 million | $568 million |
| Advertising | Not supplied | Not supplied | $32 million |
Source: Western Digital Corporation Form 10-K for the fiscal year ended June 27, 2025.
Advertising expense was $32 million in fiscal 2025 and was included in selling, general and administrative expense. The fiscal 2025 selling, general and administrative figure was $568 million, compared with $726 million in fiscal 2024 and $807 million in fiscal 2023.
The Form 10-K also described approximately 4,500 active patents. This is an estimate as stated in the filing, and the count may change over time; it is not a measurement of annual patent filings or commercial product count.
Western Digital Cash Flow, Liquidity and Capital Spending
Net cash provided by operating activities was $1,691 million in fiscal 2025, while the company reported net cash used in operating activities of $294 million in fiscal 2024. These are cash-flow measures and should not be read as net income.
Capital expenditures were $412 million in fiscal 2025 and $487 million in fiscal 2024. For fiscal 2026, management expected capital expenditures to be 4% to 6% of net revenue for the Western Digital HDD business; this is a forecast, not a realized result.
| Measure | Fiscal 2024 | Fiscal 2025 or outlook |
|---|---|---|
| Operating cash flow | $(294) million used | $1,691 million provided |
| Capital expenditures | $487 million | $412 million |
| Cash and cash equivalents | $1,551 million at June 28, 2024 | $2,114 million at June 27, 2025 |
Source: Western Digital Corporation Form 10-K for the fiscal year ended June 27, 2025.
At June 27, 2025, cash and cash equivalents held outside the United States totaled $980 million. Cash figures are point-in-time balance-sheet measures rather than averages across the fiscal year.
Western Digital Assets, Inventory and Manufacturing Footprint
At June 27, 2025, Western Digital reported total assets of $14,002 million. Accounts receivable, net, were $1,486 million, inventories were $1,291 million and property, plant and equipment, net, was $2,343 million.
| Balance-sheet item | Amount at June 27, 2025 |
|---|---|
| Total assets | $14,002 million |
| Accounts receivable, net | $1,486 million |
| Inventories | $1,291 million |
| Property, plant and equipment, net | $2,343 million |
| Machinery and equipment, gross carrying amount | $6,488 million |
Source: Western Digital Corporation Form 10-K for the fiscal year ended June 27, 2025.
The inventory total consisted of $227 million in raw materials and component parts, $785 million in work-in-process inventory and $279 million in finished goods. These are consolidated accounting balances at a single reporting date, not annual production or sales volumes.
The $2,343 million property, plant and equipment figure is a net book value after accumulated depreciation. Machinery and equipment had a gross carrying amount of $6,488 million, so the two measures have different accounting bases and should not be compared as if they were identical footprint measures.
Western Digital Debt, Commitments and Shareholder Returns
At June 27, 2025, total debt before issuance costs was $4,749 million, including $2,485 million of long-term debt excluding the current portion. The company disclosed $507 million of future interest on debt in its material cash requirements table; that is a contractual schedule estimate, not fiscal-year interest expense.
Operating-lease commitments totaled $165 million in the same contractual table. Long-term supplier commitments totaled $76 million, including $50 million due in 2026 and $26 million due in 2027, subject to supplier-performance, quality and technology conditions.
| Commitment or capital-allocation measure | Amount and period |
|---|---|
| Total debt before issuance costs | $4,749 million at June 27, 2025 |
| Long-term debt | $2,485 million at June 27, 2025 |
| Future interest on debt | $507 million contractual estimate |
| Operating-lease commitments | $165 million contractual estimate |
| Long-term supplier commitments | $76 million; $50 million due in 2026 and $26 million in 2027 |
Source: Western Digital Corporation Form 10-K for the fiscal year ended June 27, 2025.
On May 9, 2025, the board authorized a share-repurchase program of up to $2.0 billion. Western Digital repurchased 2.8 million shares for $149 million during fiscal 2025, and $1.85 billion remained available under the authorization at June 27, 2025.
The authorization balance is not the same as money spent: future repurchases were discretionary and market-dependent. Contractual schedules are likewise not realized outcomes, so debt interest, lease and supplier figures should be read as disclosed commitments or estimates for the stated date.