Western Digital vs Xerox Holdings
Western Digital is the larger business, with $12.92bn of revenue in fiscal 2026 against $7.02bn for Xerox Holdings (1.8 times as much). Western Digital grew faster (35.7% against 12.9%). Western Digital kept more of each dollar of sales as profit: a net margin of 72.9% against -14.7%. Western Digital carries less debt relative to equity (12.0% against 978.4%).
| Latest fiscal year | Western DigitalWDC, 2026 | Xerox HoldingsXRX, 2025 |
|---|---|---|
| Revenue | $12.92bn | $7.02bn |
| Revenue growth | 35.7% | 12.9% |
| Net income | $9.42bn | −$1.03bn |
| Operating margin | 34.5% | — |
| Net margin | 72.9% | -14.7% |
| Return on equity | 133.0% | -135.4% |
| Free cash flow | $3.51bn | $187m |
| Cash | $1.58bn | $512m |
| Total debt | $1.06bn | $4.34bn |
| Debt to equity | 12.0% | 978.4% |
| Dividend per share | $0.50 | — |
| Dividend yield | 0.1% | 17.5% |
| Share buybacks | $2.59bn | $0 |
| Employees | 40,000 | 22,900 |
| Market value | $130.01bn | $164m |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | 40 (Weak) | 49 (Moderate) |
| Insider trades, 12 months | 0 buys, 237 sales | 0 buys, 0 sales |