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Western Digital Corporation

WDC Technology Computer Hardware

In the quarter to June 2026, revenue grew 43.8%, EPS grew 1,070.5%, free cash flow grew 89.8% and total debt fell 77.7%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for three consecutive years, operating cash flow growth for three.

387.48 9.80 −2.47%
Market cap
$148.7B
P/E
14.7×
Fwd P/E
30.5×
Dividend yield
0.14%
F-score
8/9
Altman Z
29.58
Beneish M
−0.19
Dividend safety
70/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Western Digital Corporation (WDC) Beneish M-score

Alert me on Beneish M-score

Western Digital Corporation's Beneish M-score for fiscal 2026 is −0.19; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.

Beneish M-score, annual

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Annual newest first

Period Beneish M-score Change (points)
FY2026 −0.19 2.24
FY2025 −2.43 0.44
FY2024 −2.86 (0.41)
FY2023 −2.46 (0.13)
FY2022 −2.33 0.44
FY2021 −2.77 (0.99)
FY2020 −1.78 1.22
FY2019 −3.00 (0.03)
FY2018 −2.97 (0.25)
FY2017 −2.72 (0.14)

How fiscal 2026’s score is made up

Component This year Year before Result Points
Days’ sales in receivables index 1.00 — 0.92
Gross margin index 0.79 — 0.42
Asset quality index 1.00 — 0.40
Sales growth index 1.36 — 1.21
Depreciation index 1.23 — 0.14
SG&A index 0.71 — −0.12
Total accruals to total assets 0.40 — 1.85
Leverage index 0.54 — −0.18
Beneish M-score Flagged by the model −0.19

How the Beneish M-score works

M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.

below −2.22Low — no pattern the model associates with manipulation
−2.22 to −1.78Elevated
above −1.78Flagged by the model

−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.

When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.

Beneish M-score against peers

Company Beneish M-score
P Everpure, Inc. compare −2.9×
HPQ HP Inc. compare −2.5×
STX Seagate Technology Holdings PLC compare −2.3×
ANET Arista Networks, Inc. compare −2.2×
DELL Dell Technologies Inc. compare −2.2×
SNDK Sandisk Corporation compare −0.4×
WDC Western Digital Corporation −0.2×
SMCI Super Micro Computer, Inc. compare 0.0×
IONQ IonQ, Inc. compare 1.7×

What Beneish M-score is

The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.

−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI

The full definition of Beneish M-score →

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