Strong Cash Flow Lifts Western Digital Despite Elevated Leverage
Western Digital’s Q2 fiscal 2026 cash generated from operations rose sharply to $745M and free cash flow surged 95% to $653M. It produced $723M operating cash flow, $607M free cash flow, returned $154M through dividends, and repaid $500M of debt, after reducing debt by $684M in fiscal 2025. Leverage remains high, with $1.05B cash versus $4.5B long-term debt.