Net Profit Margin
since 2005
Calculation
Western Digital Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss)1 | ÷ | Revenue, net1 | |
|---|---|---|---|---|---|---|---|
| Jun 30, 2023 | -13.85% | = | 100 | × | (1,706) | ÷ | 12,318) |
| Jul 1, 2022 | 7.98% | = | 100 | × | 1,500) | ÷ | 18,793) |
| Jul 2, 2021 | 4.85% | = | 100 | × | 821) | ÷ | 16,922) |
| Jul 3, 2020 | -1.49% | = | 100 | × | (250) | ÷ | 16,736) |
| Jun 28, 2019 | -4.55% | = | 100 | × | (754) | ÷ | 16,569) |
| Jun 29, 2018 | 3.27% | = | 100 | × | 675) | ÷ | 20,647) |
| Jun 30, 2017 | 2.08% | = | 100 | × | 397) | ÷ | 19,093) |
| Jul 1, 2016 | 1.86% | = | 100 | × | 242) | ÷ | 12,994) |
| Jul 3, 2015 | 10.05% | = | 100 | × | 1,465) | ÷ | 14,572) |
| Jun 27, 2014 | 10.69% | = | 100 | × | 1,617) | ÷ | 15,130) |
| Jun 28, 2013 | 6.38% | = | 100 | × | 980) | ÷ | 15,351) |
| Jun 29, 2012 | 12.92% | = | 100 | × | 1,612) | ÷ | 12,478) |
| Jul 1, 2011 | 7.62% | = | 100 | × | 726) | ÷ | 9,526) |
| Jul 2, 2010 | 14.03% | = | 100 | × | 1,382) | ÷ | 9,850) |
| Jul 3, 2009 | 6.31% | = | 100 | × | 470) | ÷ | 7,453) |
| Jun 27, 2008 | 10.74% | = | 100 | × | 867) | ÷ | 8,074) |
| Jun 29, 2007 | 10.31% | = | 100 | × | 564) | ÷ | 5,468) |
| Jun 30, 2006 | 9.09% | = | 100 | × | 395) | ÷ | 4,341) |
| Jul 1, 2005 | 5.45% | = | 100 | × | 198) | ÷ | 3,639) |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).
1 US$ in millions
The net profit margin exhibited significant volatility over the analyzed period, characterized by an initial phase of growth and peak profitability, followed by a prolonged period of margin compression, and concluding with a severe contraction in the most recent fiscal year.
- Early Growth and Peak Profitability (2005–2012)
- Between 2005 and 2008, the net profit margin increased steadily from 5.45% to 10.74%. Despite a brief decline to 6.31% in 2009, profitability reached a historical peak of 14.03% in 2010. This period was generally marked by an upward trajectory in both revenue and net income, indicating strong operational efficiency and pricing power.
- Margin Compression and Instability (2013–2020)
- Beginning in 2013, the net profit margin entered a phase of instability, fluctuating between 6.38% and 10.69% through 2015. A significant erosion of profitability occurred in 2016, where the margin fell sharply to 1.86%. This downward trend continued through 2019 and 2020, leading to the first instances of negative margins, specifically -4.55% and -1.49%, reflecting a period of net losses.
- Recovery and Severe Contraction (2021–2023)
- A moderate recovery was observed from 2021 to 2022, during which the net profit margin returned to positive territory, reaching 7.98%. However, this trend reversed abruptly in 2023, resulting in a severe collapse of profitability to -13.85%. This decline is particularly notable as it coincided with a substantial reduction in net revenue, indicating a sharp increase in losses relative to sales volume.
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Comparison to Competitors
Western Digital Corp., net profit margin, long-term trends, comparison to competitors
| Western Digital Corp. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|---|
| Jun 30, 2023 | -13.85% | 25.31% | 35.62% | 22.13% | 2.39% | -7.45% | 8.98% |
| Jul 1, 2022 | 7.98% | 25.31% | 30.87% | 22.91% | 5.50% | 11.61% | 5.49% |
| Jul 2, 2021 | 4.85% | 25.88% | 28.52% | 21.26% | 3.45% | 22.80% | 3.14% |
| Jul 3, 2020 | -1.49% | 20.91% | 27.38% | 22.75% | 5.01% | 8.07% | 2.52% |
| Jun 28, 2019 | -4.55% | 21.24% | 35.67% | 22.39% | -2.55% | -2.33% | 2.05% |
| Jun 29, 2018 | 3.27% | 22.41% | 15.25% | 0.22% | — | 19.88% | 1.37% |
| Jun 30, 2017 | 2.08% | 21.09% | 25.71% | 20.02% | — | -10.23% | 2.69% |
| Jul 1, 2016 | 1.86% | 21.19% | 16.31% | 21.81% | — | 1.03% | 3.25% |
| Jul 3, 2015 | 10.05% | 22.85% | 14.46% | 18.27% | — | -0.41% | 5.12% |
| Jun 27, 2014 | 10.69% | 21.61% | 14.87% | 16.66% | — | — | 3.69% |
| Jun 28, 2013 | 6.38% | 21.67% | — | 20.54% | — | — | 1.83% |
| Jun 29, 2012 | 12.92% | 26.67% | — | 17.46% | — | — | 2.94% |
| Jul 1, 2011 | 7.62% | 23.95% | — | 15.02% | — | — | 4.27% |
| Jul 2, 2010 | 14.03% | 21.48% | — | 19.40% | — | — | 3.73% |
| Jul 3, 2009 | 6.31% | 15.61% | — | 16.98% | — | — | 3.19% |
| Jun 27, 2008 | 10.74% | 14.88% | — | 20.36% | — | — | 4.70% |
| Jun 29, 2007 | 10.31% | 14.56% | — | 21.00% | — | — | 4.60% |
| Jun 30, 2006 | 9.09% | 10.30% | — | 19.59% | — | — | — |
| Jul 1, 2005 | 5.45% | 9.58% | — | 23.15% | — | — | — |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).
Comparison to Sector (Technology Hardware & Equipment)
Western Digital Corp., net profit margin, long-term trends, comparison to sector (technology hardware & equipment)
| Western Digital Corp. | Technology Hardware & Equipment | |
|---|---|---|
| Jun 30, 2023 | -13.85% | 20.57% |
| Jul 1, 2022 | 7.98% | 21.31% |
| Jul 2, 2021 | 4.85% | 21.21% |
| Jul 3, 2020 | -1.49% | 17.50% |
| Jun 28, 2019 | -4.55% | 15.96% |
| Jun 29, 2018 | 3.27% | 18.73% |
| Jun 30, 2017 | 2.08% | 20.66% |
| Jul 1, 2016 | 1.86% | 21.06% |
| Jul 3, 2015 | 10.05% | 21.84% |
| Jun 27, 2014 | 10.69% | 20.48% |
| Jun 28, 2013 | 6.38% | 21.32% |
| Jun 29, 2012 | 12.92% | 24.46% |
| Jul 1, 2011 | 7.62% | 21.29% |
| Jul 2, 2010 | 14.03% | 20.58% |
| Jul 3, 2009 | 6.31% | 16.20% |
| Jun 27, 2008 | 10.74% | 17.79% |
| Jun 29, 2007 | 10.31% | 18.28% |
| Jun 30, 2006 | 9.09% | 15.84% |
| Jul 1, 2005 | 5.45% | 18.27% |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).
Comparison to Industry (Information Technology)
Western Digital Corp., net profit margin, long-term trends, comparison to industry (information technology)
| Western Digital Corp. | Information Technology | |
|---|---|---|
| Jun 30, 2023 | -13.85% | 20.24% |
| Jul 1, 2022 | 7.98% | 22.27% |
| Jul 2, 2021 | 4.85% | 23.48% |
| Jul 3, 2020 | -1.49% | 19.76% |
| Jun 28, 2019 | -4.55% | 19.73% |
| Jun 29, 2018 | 3.27% | 18.59% |
| Jun 30, 2017 | 2.08% | 17.77% |
| Jul 1, 2016 | 1.86% | 17.58% |
| Jul 3, 2015 | 10.05% | 18.32% |
| Jun 27, 2014 | 10.69% | 19.33% |
| Jun 28, 2013 | 6.38% | 20.15% |
| Jun 29, 2012 | 12.92% | 20.07% |
| Jul 1, 2011 | 7.62% | 20.71% |
| Jul 2, 2010 | 14.03% | 20.19% |
| Jul 3, 2009 | 6.31% | 14.45% |
| Jun 27, 2008 | 10.74% | 15.07% |
| Jun 29, 2007 | 10.31% | 15.71% |
| Jun 30, 2006 | 9.09% | 16.26% |
| Jul 1, 2005 | 5.45% | 16.64% |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).