Return on Equity (ROE)
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., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss)1 | ÷ | Shareholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Jun 30, 2023 | = | 100 | × | ÷ | |||
| Jul 1, 2022 | = | 100 | × | ÷ | |||
| Jul 2, 2021 | = | 100 | × | ÷ | |||
| Jul 3, 2020 | = | 100 | × | ÷ | |||
| Jun 28, 2019 | = | 100 | × | ÷ | |||
| Jun 29, 2018 | = | 100 | × | ÷ | |||
| Jun 30, 2017 | = | 100 | × | ÷ | |||
| Jul 1, 2016 | = | 100 | × | ÷ | |||
| Jul 3, 2015 | = | 100 | × | ÷ | |||
| Jun 27, 2014 | = | 100 | × | ÷ | |||
| Jun 28, 2013 | = | 100 | × | ÷ | |||
| Jun 29, 2012 | = | 100 | × | ÷ | |||
| Jul 1, 2011 | = | 100 | × | ÷ | |||
| Jul 2, 2010 | = | 100 | × | ÷ | |||
| Jul 3, 2009 | = | 100 | × | ÷ | |||
| Jun 27, 2008 | = | 100 | × | ÷ | |||
| Jun 29, 2007 | = | 100 | × | ÷ | |||
| Jun 30, 2006 | = | 100 | × | ÷ | |||
| Jul 1, 2005 | = | 100 | × | ÷ |
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 financial data over the examined years reveals several notable patterns and shifts in company performance and financial health.
- Net Income (Loss)
- The net income exhibits considerable volatility throughout the period. Starting at $198 million in 2005, the figure generally trended upward, peaking at $1,617 million in both 2014 and 2008, with other notable highs such as $1,612 million in 2012. However, there are sharp declines and losses in some years, particularly a significant loss of $754 million in 2019 and another substantial negative $1,706 million in 2023. This variability suggests episodic challenges impacting profitability, juxtaposed against several periods of strong earnings performance.
- Shareholders’ Equity
- Shareholders’ equity shows a consistent upward progression from $702 million in 2005 to a peak near $12,221 million in 2022. Despite some fluctuations, equity generally reflects growth, indicating an accumulation of net assets over the years. The equity base demonstrates resilience even in years where net income was negative, such as between 2018 and 2020, implying robust financial support or other capital contributions maintain equity strength.
- Return on Equity (ROE)
- The ROE fluctuates substantially, reflecting the volatile net income and evolving equity base. High ROEs above 30% were recorded early in the dataset (2005-2008), suggesting efficient utilization of equity to generate profits. However, from 2014 onward, ROE declined to notably lower levels, even turning negative during 2019 and 2023. These negative returns correspond with recorded net losses, highlighting periods where shareholders’ equity did not yield profits. The variation in ROE underscores shifts in profitability relative to equity and potentially changing operational conditions or market dynamics.
Overall, the data portrays a company with strong equity growth but experiencing cyclical and sometimes severe swings in profitability and returns on equity. This suggests exposure to market or operational risks that impact earnings, despite a solid underlying equity base. The trend toward lower and sometimes negative ROE in recent years indicates challenges in sustaining profitability relative to the equity invested.
Comparison to Competitors
Western Digital Corp., ROE, long-term trends, comparison to competitors
| Western Digital Corp. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Jun 30, 2023 | ||||||
| Jul 1, 2022 | ||||||
| Jul 2, 2021 | ||||||
| Jul 3, 2020 | ||||||
| Jun 28, 2019 | ||||||
| Jun 29, 2018 | ||||||
| Jun 30, 2017 | ||||||
| Jul 1, 2016 | ||||||
| Jul 3, 2015 | ||||||
| Jun 27, 2014 | ||||||
| Jun 28, 2013 | ||||||
| Jun 29, 2012 | ||||||
| Jul 1, 2011 | ||||||
| Jul 2, 2010 | ||||||
| Jul 3, 2009 | ||||||
| Jun 27, 2008 | ||||||
| Jun 29, 2007 | ||||||
| Jun 30, 2006 | ||||||
| Jul 1, 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., ROE, long-term trends, comparison to sector (technology hardware & equipment)
| Western Digital Corp. | Technology Hardware & Equipment | |
|---|---|---|
| Jun 30, 2023 | ||
| Jul 1, 2022 | ||
| Jul 2, 2021 | ||
| Jul 3, 2020 | ||
| Jun 28, 2019 | ||
| Jun 29, 2018 | ||
| Jun 30, 2017 | ||
| Jul 1, 2016 | ||
| Jul 3, 2015 | ||
| Jun 27, 2014 | ||
| Jun 28, 2013 | ||
| Jun 29, 2012 | ||
| Jul 1, 2011 | ||
| Jul 2, 2010 | ||
| Jul 3, 2009 | ||
| Jun 27, 2008 | ||
| Jun 29, 2007 | ||
| Jun 30, 2006 | ||
| Jul 1, 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., ROE, long-term trends, comparison to industry (information technology)
| Western Digital Corp. | Information Technology | |
|---|---|---|
| Jun 30, 2023 | ||
| Jul 1, 2022 | ||
| Jul 2, 2021 | ||
| Jul 3, 2020 | ||
| Jun 28, 2019 | ||
| Jun 29, 2018 | ||
| Jun 30, 2017 | ||
| Jul 1, 2016 | ||
| Jul 3, 2015 | ||
| Jun 27, 2014 | ||
| Jun 28, 2013 | ||
| Jun 29, 2012 | ||
| Jul 1, 2011 | ||
| Jul 2, 2010 | ||
| Jul 3, 2009 | ||
| Jun 27, 2008 | ||
| Jun 29, 2007 | ||
| Jun 30, 2006 | ||
| Jul 1, 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).