Western Digital said net revenue in fiscal 2025 increased 51% compared to fiscal 2024, driven primarily by a 29% increase in average selling price per unit and a 15% increase in units sold. The company said the increase in average selling price per unit was due to a shift in product mix to higher capacity drives.

1. 01

   Western Digital said net revenue in fiscal 2025 increased 51% compared to fiscal 2024, driven primarily by a 29% increase in average selling price per unit and a 15% increase in units sold. The company said the increase in average selling price per unit was due to a shift in product mix to higher capacity drives.

2. 02

   Western Digital said gross profit in fiscal 2025 increased $1.92 billion compared to fiscal 2024, and gross margin increased 10.7 percentage points. The company said charges for unabsorbed manufacturing overhead of approximately $155 million were incurred in fiscal 2024 but were not incurred in fiscal 2025.

3. 03

   Western Digital said it completed the separation of its HDD and Flash business on February 21, 2025, retaining 28.8 million shares of Sandisk common stock, or 19.9%. The company said that during the quarter ended June 27, 2025, it disposed of 21.3 million shares of Sandisk common stock and $4 million in cash in a tax-free exchange for $800 million principal amount of its term loan A-3.

4. 04

   Western Digital said total interest and other expense, net increased $868 million, or 258%, in fiscal 2025 compared to fiscal 2024, citing a $772 million mark-to-market loss on its retained interest in Sandisk and a $100 million loss on the extinguishment of debt in connection with the debt-for-equity exchange as factors.

Key figures

Fiscal year ended June 27, 2025

Revenue

$9.5B

Operating income

$2.3B

Net income

$1.9B

EPS

$5.12

Gross profit

$3.7B

Operating cash flow

$1.7B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.