Price to Earnings (P/E)
since 2005
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Western Digital Corp. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
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Calculation
Western Digital Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to common shareholders1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 22, 2023 | = | ÷ | = | ÷ | |||||||
| Aug 25, 2022 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2021 | = | ÷ | = | ÷ | |||||||
| Aug 28, 2020 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2019 | = | ÷ | = | ÷ | |||||||
| Aug 24, 2018 | = | ÷ | = | ÷ | |||||||
| Aug 29, 2017 | = | ÷ | = | ÷ | |||||||
| Aug 29, 2016 | = | ÷ | = | ÷ | |||||||
| Aug 21, 2015 | = | ÷ | = | ÷ | |||||||
| Aug 15, 2014 | = | ÷ | = | ÷ | |||||||
| Aug 19, 2013 | = | ÷ | = | ÷ | |||||||
| Aug 20, 2012 | = | ÷ | = | ÷ | |||||||
| Aug 12, 2011 | = | ÷ | = | ÷ | |||||||
| Aug 13, 2010 | = | ÷ | = | ÷ | |||||||
| Aug 14, 2009 | = | ÷ | = | ÷ | |||||||
| Aug 20, 2008 | = | ÷ | = | ÷ | |||||||
| Aug 28, 2007 | = | ÷ | = | ÷ | |||||||
| Nov 20, 2006 | = | ÷ | = | ÷ | |||||||
| Sep 14, 2005 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Western Digital Corp. Annual Report.
- Share Price Trend
- The share price exhibited a long-term upward trajectory from 2005 to 2014, rising from $13.53 to a peak of $100.62 in August 2014. After 2014, the share price generally declined, with significant drops observed, reaching approximately $37.84 by August 2020. A moderate recovery followed, with prices increasing to $63.24 in August 2021. However, the price decreased subsequently, settling near $40.42 by August 2023.
- Earnings Per Share (EPS) Trend
- EPS showed considerable variation over the periods. Early years (2005 to 2010) reflected growth, increasing from $0.92 in 2005 to a peak of $6.03 in 2010. Following years demonstrated volatility with alternating rises and falls, including notable negative EPS values in late periods: -$2.55 in August 2019, -$0.83 in 2020, and -$5.37 in 2023. Positive EPS were recorded intermittently, with a recovery trend between 2016 and 2018 and again in 2021.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio generally fluctuated in accordance with EPS and share price movements. Initially, the ratio decreased substantially from 14.77 in 2005 to a low of 4.06 in 2010, indicating rising earnings relative to share price. However, from 2011 onwards, the ratio rose sharply, peaking at 66.9 in 2017, which suggests elevated share price levels relative to earnings or diminished earnings. Data gaps are present in 2019 and 2020, coinciding with negative EPS values, indicating those ratios may be undefined or not meaningful for those dates. A notable drop to 10.04 occurred in 2022, implying improved earnings relative to price.
- Overall Observations
- The financial data reveals a period of robust growth in the early years followed by volatility in both share price and earnings. The share price and EPS demonstrate a strong positive correlation during growth phases, while divergence appears in later years marked by earnings declines and share price volatility. The elevated P/E ratios in mid to late 2010s suggest periods where market valuations were high relative to earnings. Recent years show challenges with negative earnings despite moderate share price levels, indicating potential operational or market pressures impacting profitability.
Comparison to Competitors
Western Digital Corp., P/E, long-term trends, comparison to competitors
| Western Digital Corp. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Aug 22, 2023 | ||||||
| Aug 25, 2022 | ||||||
| Aug 27, 2021 | ||||||
| Aug 28, 2020 | ||||||
| Aug 27, 2019 | ||||||
| Aug 24, 2018 | ||||||
| Aug 29, 2017 | ||||||
| Aug 29, 2016 | ||||||
| Aug 21, 2015 | ||||||
| Aug 15, 2014 | ||||||
| Aug 19, 2013 | ||||||
| Aug 20, 2012 | ||||||
| Aug 12, 2011 | ||||||
| Aug 13, 2010 | ||||||
| Aug 14, 2009 | ||||||
| Aug 20, 2008 | ||||||
| Aug 28, 2007 | ||||||
| Nov 20, 2006 | ||||||
| Sep 14, 2005 |
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., P/E, long-term trends, comparison to sector (technology hardware & equipment)
| Western Digital Corp. | Technology Hardware & Equipment | |
|---|---|---|
| Aug 22, 2023 | ||
| Aug 25, 2022 | ||
| Aug 27, 2021 | ||
| Aug 28, 2020 | ||
| Aug 27, 2019 | ||
| Aug 24, 2018 | ||
| Aug 29, 2017 | ||
| Aug 29, 2016 | ||
| Aug 21, 2015 | ||
| Aug 15, 2014 | ||
| Aug 19, 2013 | ||
| Aug 20, 2012 | ||
| Aug 12, 2011 | ||
| Aug 13, 2010 | ||
| Aug 14, 2009 | ||
| Aug 20, 2008 | ||
| Aug 28, 2007 | ||
| Nov 20, 2006 | ||
| Sep 14, 2005 |
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., P/E, long-term trends, comparison to industry (information technology)
| Western Digital Corp. | Information Technology | |
|---|---|---|
| Aug 22, 2023 | ||
| Aug 25, 2022 | ||
| Aug 27, 2021 | ||
| Aug 28, 2020 | ||
| Aug 27, 2019 | ||
| Aug 24, 2018 | ||
| Aug 29, 2017 | ||
| Aug 29, 2016 | ||
| Aug 21, 2015 | ||
| Aug 15, 2014 | ||
| Aug 19, 2013 | ||
| Aug 20, 2012 | ||
| Aug 12, 2011 | ||
| Aug 13, 2010 | ||
| Aug 14, 2009 | ||
| Aug 20, 2008 | ||
| Aug 28, 2007 | ||
| Nov 20, 2006 | ||
| Sep 14, 2005 |
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).