WDCWestern Digital
Western Digital was founded in 1970 and is a Standard & Poor’s 500 (“S&P 500”) company headquartered in San Jose, California. 10-K, Item 1
- Employees
- 40,000
- Headquarters
- San Jose, CA
- CEO
- Irving Tan
- Next results
- around Jan 28, 2027
What the 10-K filed 2026-08-14 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-08-14.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
“For the year ended July 3, 2026, the Cloud end market accounted for 89% of our net revenue and our top 10 customers accounted for 73% of our net revenue, with three customers each accounting for 10% or more of our net revenue.”
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“For 2026, 2025 and 2024, our top 10 customers accounted for 73%, 68% and 55%, respectively, of our net revenue.”
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“For 2026, three customers accounted for 16%, 15%, and 13%, respectively, of our net revenue.”
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“For 2025, three customers accounted for 17%, 12%, and 10%, respectively, of our net revenue.”
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Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
“Many of the components and much of the equipment we acquire must be specifically designed for use in our products or for developing and manufacturing our products and are only available from a limited number of suppliers, some of whom are our sole-source suppliers.”
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“Where we rely on a limited number of suppliers or a single supplier, the risk of supplier loss due to industry consolidation or a decline in financial performance is increased.”
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“Some key components are purchased from single source vendors for which alternative sources are currently not available.”
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Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
“The trial commenced on October 8, 2024, and concluded on October 18, 2024, and the jury awarded SPEX damages of $316 million for the use of one claim related to U.S.”
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“On June 16, 2025, the Court ruled on the Company’s post-trial motions, finding that SPEX did not present sufficient evidence on which a damages award could be determined and therefore awarded nominal damages of $1.”
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“On June 27, 2025, the Court entered an amended judgment awarding SPEX nominal damages of $1 with no prejudgment interest and no legal costs.”
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“Following a jury trial and judgment in favor of the plaintiff, in the fourth quarter of 2024, the Company recognized an aggregate liability for this matter of $384 million with $291 million recognized as an Operating expense under Litigation matter for the year ended June 28, 2024 and $93 million recognized as Other non-current assets for the patent licenses, to be amortized over their remaining lives.”
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“As a result of the settlement, the Company reversed $201 million of previously recorded charges in Operating expense under Litigation matter and $6 million of post-judgment interest previously recorded in Other income (expense), net.”
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Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
“It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement.”
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Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“As of July 3, 2026, the Company was in compliance with all financial covenants under the Loan Agreement.”
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Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on WDC in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/WDC/export.csv") into a cell.