Workday, Inc.

WDAY · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
Valuation
Market cap	$46,191	$69,708	$76,551	$46,628	$63,252	$56,882	$46,158	$45,382	$29,972	$20,772	$15,752	$19,865	$15,338	$3,954	–	–	–
Enterprise value	$44,569	$65,053	$72,034	$43,756	$61,711	$55,585	$45,783	$44,809	$28,196	$19,310	$14,291	$18,501	$13,933	$3,188	–	–	–
P/E (TTM) at period end	66.65×	132.52×	55.43×	–	2153.42×	–	–	–	–	–	–	–	–	–	–	–	–
P/S (TTM) at period end	4.84×	8.25×	10.55×	7.50×	12.31×	13.17×	12.73×	16.08×	13.99×	13.19×	13.62×	25.21×	32.71×	14.45×	–	–	–
P/B at period end	5.92×	7.72×	9.47×	8.35×	13.95×	17.35×	18.56×	23.17×	18.97×	16.27×	12.85×	16.54×	12.92×	6.68×	–	–	–
EV / EBITDA (TTM)	46.52×	98.86×	186.62×	825.58×	419.81×	–	–	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	4.67×	7.70×	9.92×	7.04×	12.01×	12.87×	12.62×	15.88×	13.16×	12.26×	12.35×	23.48×	29.71×	11.65×	–	–	–
Returns
Return on equity	8.9%	5.8%	17.1%	(6.6%)	0.6%	(8.6%)	(19.3%)	(21.4%)	(20.3%)	(30.1%)	(22.4%)	(20.6%)	(14.5%)	(20.2%)	–	–	–
Return on invested capital	4.9%	3.2%	2.0%	(3.2%)	(2.3%)	(6.0%)	(15.0%)	(18.1%)	(15.7%)	(27.7%)	(17.4%)	(15.4%)	(14.1%)	(22.1%)	–	–	–
Dividend yield	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.32×	1.90×	1.97×	1.75×	1.03×	1.12×	1.04×	1.11×	1.92×	1.96×	2.56×	3.29×	4.80×	3.47×	1.26×	0.94×	–
Debt / equity	0.38×	0.34×	0.38×	0.53×	0.41×	0.55×	0.51×	0.62×	0.94×	0.42×	0.41×	0.40×	0.41×	0.04×	–	(0.08×)	–
Effective tax rate	31.3%	17.6%	(287.9%)	(41.2%)	(81.2%)	(2.7%)	0.4%	1.3%	(2.0%)	0.2%	(0.4%)	(0.8%)	(1.0%)	(0.1%)	(0.2%)	(0.2%)	(0.2%)
Share count
Diluted shares outstanding	268	269	265	255	254	237	227	217	208	198	190	184	171	74	29	226	226

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
Revenue and gross profit
Revenue	$10,155	$9,552	$8,446	$7,259	$6,216	$5,139	$4,318	$3,627	$2,822	$2,143	$1,574	$1,157	$788	$469	$274	$134	$68	$25
Cost of revenue	($2,458)	($2,321)	($2,069)	($1,771)	($1,710)	($1,428)	($1,198)	($1,065)	($835)	($629)	($484)	($150)	($102)	($69)	($117)	($65)	($40)	($21)
Gross profit	$7,697	$7,231	$6,377	$5,488	$4,506	$3,711	$3,120	$2,562	$1,987	$1,514	$1,091	$1,007	$685	$400	$157	$69	$28	$5
Operating expenses
Research and development	($2,809)	($2,679)	($2,626)	($2,464)	($2,247)	($1,879)	($1,721)	($1,550)	($1,212)	($911)	($681)	($470)	($317)	($182)	($103)	($62)	($39)	($30)
Selling, general and administrative	($931)	($912)	($820)	($702)	($599)	($486)	($414)	($368)	($347)	($223)	($198)	($149)	($106)	($66)	($49)	($15)	($45)	($26)
Total operating expenses	($6,613)	($6,510)	($5,962)	($5,305)	($4,728)	($3,827)	($3,368)	($3,064)	($2,451)	($1,817)	($1,444)	($1,257)	($901)	($553)	($275)	($148)	($84)	($56)
Total costs and expenses	($9,071)	($8,831)	($8,031)	($7,076)	($6,438)	($5,255)	($4,567)	($4,129)	($3,285)	($2,446)	($1,928)	($1,406)	($1,004)	($622)	($392)	($213)	($124)	($77)
Operating income	$1,084	$721	$415	$183	($222)	($116)	($249)	($502)	($463)	($303)	($353)	($250)	($216)	($153)	($118)	($78)	($56)	($51)
Earnings
EBITDA	$1,311	$958	$658	$386	$53	$147	($18)	($301)	($265)	($168)	($247)	($164)	($156)	($119)	($100)	($69)	($51)	($48)
Interest income	$231	$318	$350	$301	$97	$5	$19	$41	$42	$25	$11	$5	$3	$2	$1	$0	$0	$0
Interest expense	($111)	($114)	($114)	($114)	($102)	($17)	($69)	($59)	($60)	($45)	($30)	($32)	($31)	($20)	($1)	($1)	($0)	–
Pre-tax income	$1,284	$1,009	$638	$356	($260)	$16	($275)	($482)	($424)	($315)	($386)	($274)	($246)	($171)	($119)	($79)	($56)	($50)
Income tax expense	($33)	($316)	($112)	$1,025	($107)	$13	($7)	$2	$5	($6)	$1	($1)	($2)	($2)	($0)	($0)	($0)	($0)
Net income	$1,251	$693	$526	$1,381	($367)	$29	($282)	($481)	($418)	($321)	($385)	($275)	($248)	($173)	($120)	($80)	($56)	($50)
Per share
Diluted EPS (GAAP)	$4.93	$2.59	$1.95	$5.21	($1.44)	$0.12	($1.19)	($2.12)	($1.93)	($1.55)	($1.94)	($1.45)	($1.35)	($1.01)	($1.62)	($2.71)	($0.25)	($0.22)
Basic EPS (GAAP)	$4.95	$2.61	$1.98	$5.28	($1.44)	$0.12	($1.19)	($2.12)	($1.93)	($1.55)	($1.94)	($1.45)	($1.35)	($1.01)	($1.62)	($2.71)	($0.25)	($0.22)
Basic shares outstanding	257	265	265	261	255	247	237	227	217	208	198	190	184	171	74	29	226	226
Margins
Gross margin	75.8%	75.7%	75.5%	75.6%	72.5%	72.2%	72.3%	70.6%	70.4%	70.6%	69.3%	87.0%	87.0%	85.2%	57.4%	51.4%	41.4%	18.8%
Operating margin	10.7%	7.5%	4.9%	2.5%	(3.6%)	(2.3%)	(5.8%)	(13.8%)	(16.4%)	(14.1%)	(22.4%)	(21.6%)	(27.4%)	(32.7%)	(43.1%)	(58.4%)	(82.4%)	(203.6%)
Net margin	12.3%	7.3%	6.2%	19.0%	(5.9%)	0.6%	(6.5%)	(13.3%)	(14.8%)	(15.0%)	(24.4%)	(23.8%)	(31.5%)	(36.8%)	(43.8%)	(59.5%)	(82.6%)	(197.8%)

Analyst consensus

Buy81 analysts

Bearish · 3 · Hold · 38 · Bullish · 40

Earnings history

	EPS	Estimate
Q3 2025	$1.89	$1.76	Beat
Q4 2025	$1.92	$1.78	Beat
Q1 2026	$2.23	$2.01	Beat
Q2 2026	$2.21	$2.11	Beat
Q3 2026	$2.32	$2.17	Beat
Q4 2026	$2.47	$2.32	Beat
Q1 2027	$2.66	$2.51	Beat
Q2 2027	$2.75	$2.61	Beat

Peers

Company overview

IPO dateOct 12, 2012

CEOAneel Bhusri

Employees20,896

SectorTechnology

IndustrySoftware - Application

CountryUS

ExchangeNASDAQ Global Select

Websitewww.workday.com

Workday, Inc. delivers comprehensive, cloud-hosted enterprise software solutions to clients worldwide. These platforms empower organizations to strategize, operate, examine performance, integrate with existing systems, and oversee their overall business functions. A core offering includes a robust suite of financial management tools. These are designed to assist Chief Financial Officers (CFOs) in meticulously maintaining general ledger accounting data, streamlining financial workflows, gaining instant insights into financial and operational metrics, optimizing consolidation, accelerating month-end closes, bolstering internal controls and audit readiness, and ensuring uniformity throughout their financial activities. Workday also provides cloud-based spend management solutions. These facilitate smoother supplier engagement and contract administration, optimize the handling of indirect expenditures, and enable the effective execution of sourcing initiatives, including requests for proposals (RFPs). Its Human Capital Management (HCM) platform stands out, offering a comprehensive set of applications for overseeing the entire employee journey—from initial recruitment through to retirement. This empowers HR departments to efficiently handle hiring, onboarding, payroll, talent development, reskilling programs, and to cultivate exceptional employee experiences. Furthermore, the company offers dedicated applications for business planning, alongside powerful analytics and reporting capabilities. These advanced tools feature augmented analytics that translate complex data into easily digestible narratives for business users, leverage machine learning for enhanced operational efficiency and automation, and provide benchmarking features to compare performance against industry peers. Workday's diverse clientele spans numerous sectors, including professional and business services, financial institutions, healthcare providers, educational bodies, government agencies, technology firms, media organizations, retailers, and the hospitality industry. Originally incorporated in 2005 as North Tahoe Power Tools, Inc., the company adopted the name Workday, Inc. in July of the same year. Its corporate headquarters are located in Pleasanton, California.

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