Western Digital's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Western Digital (WDC) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Western Digital vs Its Competitors
- TTM: Trailing 12-month revenue of 12,919M vs 103,971M combined for tracked competitors (11.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+16.0% annualized vs trailing 12 months), vs accelerating (+75.3%) for its tracked peer group.
- Growth: Western Digital generated 43.8% revenue growth year over year in Q4 2026, vs 277.5% for its tracked competitors combined.
- Profitability: Its 85.3% net margin compares with 64.9% for the peer group.
- Scale: Western Digital ranks #6 of 15 companies by market capitalization in the Computer Hardware industry, holding 2.7% of industry market cap.
- Peer revenue share: Western Digital accounted for 7.6% of combined revenue among its tracked peer group, down from 17.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.32M compares with $1.21M for the peer group (0.3x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
WDC Sales vs. its Competitors, Q4 2026
Western Digital reported revenue growth of 43.84 % year on year in Q4 2026, below its competitors' combined revenue growth of 277.52 %.
With a net margin of 85.27 %, Western Digital achieved higher profitability than its competitors (64.93 %).
Western Digital generated 7.60 % of the combined sales of its peer group, down from 17.75 % a year earlier.
Western Digital vs. its Competitors, Q4 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Western Digital and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Western Digital Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Western Digital's competitor groups requires a Commercial License.
For context: the Computer Hardware industry grew revenue 29.2% year over year, combined, vs 43.8% for Western Digital. Western Digital's share of combined industry revenue moved from 1.45% to 1.61%, a gain of 0.16 percentage points.
Western Digital's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Western Digital Corporation | Yes | No | No | No |
| Competitors combined (3) | ||||
| High-Confidence Competitors (6) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 75.00 % (6 of 8) | 100.00 % (8 of 8) | 62.50 % (5 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
WDC Stock Performance relative to its Competitors
WDC Stock Performance relative to High-Confidence Competitors
WDC Stock Performance relative to Similar-Size Competitors
WDC Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Micron Technology Inc | 282.9% | Outperformed |
| 2 | Seagate Technology Holdings Plc | 282.9% | Outperformed |
| 3 | Penguin Solutions Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Western Digital's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Western Digital's Comment on Competition and Industry Peers
The storage industry is increasingly utilizing tiered architectures with HDDs and SSDs to address an expanding set of uses and applications. HDDs are highly substitutable due to industry standards that mandate the technical form, fit and function of HDDs, and we believe there are no substantial barriers for existing HDD competitors to offer competing products. HDD attributes include product quality and reliability, storage capacity, unit price, product performance, production volume capabilities, delivery capability, leadership in time-to-market, time-to-volume and time-to-quality, service and support and ease of doing business. The relative importance of these factors varies by customer, market and use, and we believe that we are generally competitive in all of these factors.
Semiconductor media or solid-state technology provides high performance attributes in some enterprise-class applications and client notebook designs and attractive functionality in consumer handheld applications requiring smaller form factors, lower power and less storage capacity, such as smart phones and tablets. With advances in our own solid-state enterprise business, coupled with our actions to strengthen those resources through acquisitions and investments, we believe we are positioned to compete successfully in the enterprise-class solid-state segment of this market. Advances in magnetic, optical or other data storage technologies could also result in competitive products for storing digital content with better performance or lower cost per unit of capacity than our products. We monitor the advantages, disadvantages and advances of the full array of storage technologies on an ongoing basis.
Publicly Traded Peers of Western Digital Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Western Digital Corporation | 173,587.09 | 12,919.00 |
| Micron Technology Inc | 1,206,807.10 | 90,274.00 |
| Seagate Technology Holdings Plc | 211,025.79 | 12,195.00 |
| Penguin Solutions Inc | 3,027.36 | 1,502.25 |
| SUBTOTAL | 1,594,447.34 | 116,890.26 |
Sources: Western Digital Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Western Digital Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Western Digital's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Seagate Technology Holdings Plc | Named by the company | 85% |
| Micron Technology Inc | Named by the company | 85% |
| Aebi Schmidt Holding Ag | Named by the company | 85% |
| Kioxia | Named by the company | 85% |
| Yangtze Memory Technologies Co., Ltd. | Named by the company | 85% |
| Solidigm | Named by the company | 85% |
| Samsung Electronics Co., Ltd. | Named by the company | 85% |
| Intel Corporation | Named by the company | 85% |
| Toshiba Electronic Devices & Storage Corporation | Named by the company | 85% |
| One Stop Systems Inc | Named by the company | 85% |
| SK Hynix, Inc. | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Western Digital's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Western Digital's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Western Digital Corporation | HDD 100.00 % |
| Micron Technology Inc | CMBU 33.21 % |
| Penguin Solutions Inc | Integrated Memory 57.46 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Western Digital's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Western Digital Corporation | 173,587 | 322,975 | 235,600 |
| Micron Technology Inc | 1,206,807 | 1,703,283 | 952,245 |
| Seagate Technology Holdings Plc | 211,026 | 406,500 | 106,133 |
| Penguin Solutions Inc | 3,027 | 518,019 | 34,941 |
| PEERS TOTAL | 1,420,860 | 1,210,375 | 625,778 |
Western Digital's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Western Digital Corporation | United States 40.01 % |
| Seagate Technology Holdings Plc | Other Countries 0.04 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Western Digital's Position in Industry Market Structure
Market-capitalization share and concentration across all 15 companies in Western Digital's industry classification, broader than the peer set above. Market cap in millions of $.Western Digital ranks #6 of 15 companies by market capitalization in its industry, holding 2.66 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 6,194, indicating a highly concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Apple Inc | 5,038,673 | 78.20 % |
| 2 | Dell Technologies Inc | 357,518 | 5.55 % |
| 3 | Sandisk Corporation | 266,499 | 4.14 % |
| 4 | International Business Machines Corporation | 210,099 | 3.26 % |
| 5 | Seagate Technology Holdings Plc | 1,234 | 5.2% |
| 6 | Western Digital Corporation | 171,201 | 2.66 % |
| 7 | Hewlett Packard Enterprise Company | 1,234 | 5.2% |
| 8 | Netapp Inc | 1,234 | 5.2% |
| 9 | Super Micro Computer Inc | 1,234 | 5.2% |
| 10 | Hp inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Western Digital's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Western Digital's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Apple Inc | 5,038,673 | 33.31 % |
| 2 | Dell Technologies Inc | 357,518 | 318.71 % |
| 3 | Sandisk Corporation | 266,499 | 1,723.47 % |
| 4 | International Business Machines Corporation | 210,099 | -21.69 % |
| 5 | Seagate Technology Holdings Plc | 1,234 | 12.3% |
| 6 | Western Digital Corporation | 171,201 | 316.94 % |
| 7 | Hewlett Packard Enterprise Company | 1,234 | 12.3% |
| 8 | Netapp Inc | 1,234 | 12.3% |
| 9 | Super Micro Computer Inc | 1,234 | 12.3% |
| 10 | Hp inc | 1,234 | 12.3% |
| 11 | Omnicell inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Western Digital's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Western Digital's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Computer Hardware industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (21 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 48.85 % | 43.10 % (avg) | +5.7 pp |
| Operating Margin | 34.47 % | industry median | +27.4 pp |
| EBITDA Margin | 82.64 % | 10.35 % (avg) | +72.3 pp |
| Capital Intensity (Capex / Revenue) | - | 2.38 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Western Digital's Valuation vs Competitive Position
Valuation multiples vs the Computer Hardware industry average (21 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 22.5x | 33.7x | -11.1x |
| EV / EBITDA | 19.6x | 20.6x | -0.9x |
| P/B | 28.0x | 9.0x | +18.9x |
| Return on Equity | 126.74 % | industry aggregate | 22.83 % |
| Return on Invested Capital | 26.15 % | 10.31 % (avg) | 15.84 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Western Digital's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -3.08 % | -19.64 % | 4.78 % | 16.01 % | -16.84 % | -28.54 % | 38.59 % | -31.20 % |
| Operating Margin | 13.51 % | -5.48 % | 3.93 % | 13.18 % | 4.59 % | -17.13 % | 13.35 % | 22.73 % |
| Return on Invested Capital | 7.35 % | -2.67 % | 2.10 % | 7.74 % | 2.19 % | -6.46 % | 7.06 % | 16.48 % |
| P/E | 12.2x | - | 87.1x | 9.3x | - | - | 14.5x | 18.5x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Western Digital's Strategic Group Map
Every company in Western Digital's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Western Digital is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Western Digital's BCG Growth-Share Matrix
Relative market share (vs Western Digital's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Western Digital falls in the Dog quadrant: relative market share of 0.03x vs its largest competitor, in an industry growing revenue 9.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Apple Inc alone holds 78% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Western Digital's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 6,194 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Western Digital's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Western Digital's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Western Digital's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Western Digital falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Western Digital's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 27.4 points above the industry median.
- Return on equity 22.8 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+16.0% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.03x).
Opportunities
- Trades at a lower P/E than the industry average (22.5x vs 33.7x) despite a higher return on invested capital -- a possible re-rating opportunity.
- A meaningful share of tracked competitors (33.30 %) show financial-distress signals, a possible opening to gain share.
Threats
- Industry dominated by Apple Inc , holding 78.20 % of industry market cap.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Western Digital's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Western Digital Corporation | 0.40 | 1.27 | 0.44 |
| Micron Technology Inc | 1.02 | 2.91 | 0.17 |
| Seagate Technology Holdings Plc | 0.37 | 1.31 | 6.23 |
| Penguin Solutions Inc | 0.69 | 1.92 | 1.17 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Western Digital's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Western Digital Corporation | Q2 2026 | +43.8 % | +1,167.9 % |
| Micron Technology Inc | Q2 2026 | +345.7 % | +1,398.3 % |
| Seagate Technology Holdings Plc | Q2 2026 | +48.5 % | +165.2 % |
| Penguin Solutions Inc | Q2 2026 | +47.7 % | +1,238.6 % |
| PEERS TOTAL | +236.0 % | +1,147.1 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Western Digital's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Western Digital Corporation | Q2 2026 | +11.8 % | +52.1 % |
| Micron Technology Inc | Q2 2026 | +10.5 % | +166.4 % |
| Seagate Technology Holdings Plc | Q2 2026 | +13.1 % | +125.3 % |
| Penguin Solutions Inc | Q2 2026 | +50.9 % | +48.3 % |
Western Digital's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Western Digital Corporation | 65.82% | 98.24% | 126.74% |
| Micron Technology Inc | 49.92% | 56.57% | 70.55% |
| Seagate Technology Holdings Plc | 36.05% | 57.38% | 463.80% |
| Penguin Solutions Inc | 5.65% | 8.45% | 24.23% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Western Digital's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Western Digital Corporation | 18.81 | 13.44 |
| Micron Technology Inc | 23.85 | 13.37 |
| Seagate Technology Holdings Plc | 66.06 | 17.30 |
| Penguin Solutions Inc | 39.27 | 2.02 |
| PEERS AVERAGE | 25.24 | 13.64 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.