Filing Flows › Western Digital (WDC) › Q4 FY26 › vs Q3 FY26
Western Digital (WDC) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Western Digital's revenue rose $410M (+12%) from $3.3B in Q3 FY26 to $3.7B in Q4 FY26. The biggest changes: Cloud +$363M (+12%); Client Devices +$46.0M (+26%); Consumer +$1.0M (+0.5%). Gross margin 54.1% against 50.2% (+3.9 pts).
Western Digital, Q4 FY26: revenue $3.7B (+44% year over year), operating margin 41.7%, net earnings $3.2B, operating cash flow $1.4B. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Gross margin | 54.1% | 50.2% | +3.9 pts |
| Operating margin | 41.7% | 35.7% | +6.1 pts |
| Net margin | 85.3% | 96.0% | -10.8 pts |
| Free cash flow margin | 34.2% | 29.3% | +4.9 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Cloud | $3.3B | $3.0B | $363M | +12% |
| Client Devices | $225M | $179M | $46.0M | +26% |
| Consumer | $187M | $186M | $1.0M | +0.5% |
| Revenue | $3.7B | $3.3B | $410M | +12% |
| Gross profit | $2.0B | $1.7B | $352M | +21% |
| Cost of revenue | $1.7B | $1.7B | $58.0M | +3% |
| Other income, net | $1.7B | $2.2B | −$485M | -22% |
| Operating profit | $1.6B | $1.2B | $373M | +31% |
| Operating expenses | $465M | $486M | −$21.0M | -4% |
| Pre-tax earnings | $3.2B | $3.4B | −$112M | -3% |
| Research & development | $284M | $294M | −$10.0M | -3% |
| SG&A | $138M | $147M | −$9.0M | -6% |
| Other operating costs | $43.0M | $45.0M | −$2.0M | -4% |
| Net earnings | $3.2B | $3.2B | −$10.0M | -0.3% |
| Income tax | $52.0M | $154M | −$102M | -66% |
| Depreciation & amortization | $99.0M | $0 | $99.0M | — |
| Share-based compensation | $45.0M | $53.0M | −$8.0M | -15% |
| Working capital & other | $1.9B | $2.1B | −$185M | -9% |
| Operating cash flow | $1.4B | $1.1B | $266M | +24% |
| Free cash flow (OCF − capex) | $1.3B | $978M | $303M | +31% |
| Capital expenditures | $108M | $145M | −$37.0M | -26% |
Questions
How much did Western Digital's revenue grow quarter over quarter in Q4 FY26?
Western Digital's revenue rose $410M (+12%) from $3.3B in Q3 FY26 to $3.7B in Q4 FY26.
What drove Western Digital's revenue change in Q4 FY26?
Cloud +$363M (+12%); Client Devices +$46.0M (+26%); Consumer +$1.0M (+0.5%).