Western Digital Corp

Company facts

Industry

Computer Storage Devices

Headquarters

San Jose, California

Most recent report

10-Q, filed Oct 23, 2026

Incorporated

Delaware

Filings on record

1,004+ filings

On EDGAR

CIK 106040

Fiscal year ends

July

Filer status

Large accelerated filer

What to read: Oct 2026 10-Q

SECSift found 4 of 11 sections worth reading, with 3 positive, 12 notable, and 0 negative flags.

• Financial Statements (Item 1)

  Convertible note settlement, buyback, and tax dispute details are company-specific and material.
  Notable

  • Unrecognized tax benefits rose to $626M; $351M could require cash payment within 12 months.
  • Excess windfall tax benefits from stock awards were $98M in Q1 2027, boosting cash flow.
  • Reclassified $2.45B from retained earnings to APIC due to share issuances exhausting treasury stock.
  • Patent verdict of $316M was overturned; company appealed, no liability accrued as of Oct 2, 2026.

• Management's Discussion (Item 2)

  Revenue up 55%, gross margin 57.8%, $1.0B buyback, $791M debt due in 1 year.
  Positive

  • Revenue up 55% to $4.38B in Q1 2027, Cloud up 54% on >20% exabyte growth and ~25% ASP increase.
  • Gross margin expanded 14 points to 57.8% in Q1 2027, from 43.5% a year ago, on improved pricing and lower costs.
  • Operating cash flow more than doubled to $1.60B in Q1 2027 from $672M a year ago, on improved profitability.
  Notable

  • Top 10 customer concentration fell to 64% of revenue in Q1 2027 from 73% a year ago, under updated attribution method.
  • Prior period included a $611M non-recurring gain on retained interest in Sandisk; absent this, operating income rose 158%.
  • $1.0B in share repurchases in Q1 2027, funded by operating cash; $2.26B remaining authorization.

• Unregistered Sales and Repurchases (Item 2)

  Buyback pace and remaining authorization are material for capital allocation analysis.
  Notable

  • Board authorized $4.0B additional buyback on Feb 2, 2026, plus original $2.0B from May 9, 2025.
  • 176,008 shares received from settling $378M notional Capped Calls on converted notes, not open-market buys.

• Other Information (Item 5)

  Three insider trading plan changes, including CEO modifying his plan and a director adopting a new one.
  Notable

  • Chief Sales and Marketing Officer terminated two existing 10b5-1 plans in August 2026.
  • CEO modified his 10b5-1 plan to sell up to 80,000 shares; 20,000 already sold before amendment.
  • Director adopted a new plan to sell up to 13,440 shares before December 31, 2027.

What changed: Oct 2026 vs. Apr 2026

About 20% of WDC's Oct 2026 10-Q is new information. 56 paragraphs were added, 139 changed, and 96 removed. Below are the most important lines SECSift identified.

• Item 1 67
• Item 2 62
• Item 5 4
• Item 3 3
• Item 6 1
• Item 4 1
• Item 1A 1