— Know what they know.
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Not Investment Advice

WDAY

NASDAQ · USD
Workday, Inc.
Technology · Software - Application
CEO Aneel Bhusri Employees 21,000 R&D / revenue 28.0%
Last price
$190.81−2.96%last session
Market cap
$46.0B
P/E (TTM)
38.5x
From 52w high
−22.9%
From 52w low
+72.9%
1-year return
−16.2%
RSI 14 · vs SMA200
52.1 · +22.5%
IS score
74.9/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

WDAY   SPY   XLK (sector ETF) · weekly closes
6080100120140Jan 26Apr 26Jul 26Oct 26XLK 129SPY 116WDAY 84

Score DNA

Each bar is a 0-100 score within the scored universe
66
Profitability
68
Growth
34
Value
93
Momentum
80
Risk (safety)
81
Quality
78
Balance sheet
59
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for WDAY (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Network EffectsPiotroski 7 / 9Altman Z 3.5Beta 1.083 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
161 open-market sales, $316.2M
Form 144 notices (12m): 53, $565.3M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
12
Last disclosed purchase 2026-08-18
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−24
135 new holders, 147 closed
914 filers hold 84.0% · 352 added, 331 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+102
1,340 funds adding shares
1,238 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
50.7%
20-day avg 55.3%, 50-day avg 56.7%
Latest 4.6 pp under its 20-day average · a flow, not short interest

Key financials · FY2026

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$9.6B
Revenue growth YoY+13.1%
Gross margin75.7%
Operating income$1.0B
Operating margin10.7%
Net income$693.0M
Net margin7.3%
EPS (diluted)$2.58
Cash flow
Operating cash flow$2.9B
Capital expenditure$162.0M
Free cash flow$2.8B
FCF conversion (FCF / OCF)94.5%
Stock-based compensation$1.6B
FCF less SBC$1.2B
Buybacks$2.9B
Dividends$0
Balance sheet & returns
Cash & short-term investments$5.4B
Total debt$3.0B
Net cash$2.5B
Shareholders' equity$7.8B
Goodwill & intangibles$5.9B
Debt / equity0.58
ROE (TTM)16.8%
ROIC (TTM)11.4%
Operating margin by fiscal year
-2.3%FY2022-3.6%FY20232.3%FY20244.9%FY20258.9%FY2026
Revenue $5.1B (FY2022) to $9.6B (FY2026), a 16.8% CAGR.

Valuation

P/E (TTM)38.5x
EV / EBITDA29.4x
Price / sales4.53x
Price / FCF16.2x
FCF yield6.18%
Buyback yield6.30%
SBC / revenue16.2%
Price / book7.37x
Forward P/E FY202717.2x
Forward P/E FY202814.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $210.00 across 29 analysts last quarter is theirs, not ours.

WDAY vs industry median

831 companies in Software - Application
Gross margin 75.8% 59.6% Operating margin 12.0% -6.6% Net margin 12.3% -9.7% ROIC 11.4% 3.5%
WDAY (TTM)Industry median Asset turnover 0.64 vs industry 0.57 · financial leverage 2.45

Earnings delivery

Next report 2026-11-24 · consensus EPS $2.74
100%
beat rate, 12 of 12 quarters
+6.9%
median EPS surprise
12
longest beat streak
+9+7+9+6+7+8+11+5+7+6+6+5
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-28 to 2026-08-27. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
WDAY Workday, Inc. $46.0B38.5x16.8%12.3%+13.1% −16.2%
ADSK Autodesk, Inc. $50.1B30.9x53.9%24.0%+18.0% −20.0%
VEEV Veeva Systems Inc. $50.3B50.0x14.4%29.5%+16.5% +6.0%
TEAM Atlassian Corporation $52.6Bn/m-4.5%7.9%+26.0% +38.4%
NBIS Nebius Group N.V. $39.7B636.4x0.9%-32.7%+583.4% +34.5%
MSTR Strategy Inc $55.1Bn/m-31.2%—+6.8% —
ROP Roper Technologies, Inc. $37.9B15.9x13.1%55.4%+10.9% —
ZM Zoom Communications, Inc. $27.5B8.6x32.1%—+5.0% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-10-13Other Events; Exhibits
2026-10-01Material Agreement; Termination of Agreement; Financial Obligation; Exhibits
2026-09-29Earnings Release; Exit/Disposal Costs
2026-08-27Earnings Release; Other Events; Exhibits
2026-06-22Shareholder Vote
2026-05-21Earnings Release; Exhibits

Context

Shares outstanding241,000,008
Free float80.6%
Institutional ownership84.0%
Beta1.08
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$191.04 / $155.92
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where WDAY sits among 137 scored companies in Software - Application (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureWDAYIndustry medianIndustry percentileSector median
P/E (TTM) 36.8x 30.6x
60th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 4.5x 4.5x
51st		 3.9x
Price / book 7.1x 4.7x
69th		 4.4x
Price / tangible book 64.5x 7.0x
95th		 8.8x
Price / free cash flow 16.2x 17.2x
44th		 20.3x
Price / operating cash flow 14.9x 16.1x
46th		 17.9x
Enterprise value $46.4B $3.8B
89th		 $5.5B
EV / sales 4.6x 4.2x
55th		 4.1x
EV / EBITDA 27.8x 19.1x
63rd		 18.9x
EV / EBIT 35.6x 27.7x
59th		 26.7x
EV / free cash flow 16.3x 18.6x
44th		 21.9x
Earnings yield 2.7% 1.4%
64th		 2.0%
FCF yield 6.2% 4.8%
62nd		 3.3%
Operating cash flow yield 6.7% 5.1%
60th		 4.4%
Graham number (per share) $53.89 $20.79
79th		 $28.08

Profitability (TTM)

MeasureWDAYIndustry medianIndustry percentileSector median
Gross margin 75.8% 71.1%
65th		 55.7%
EBITDA margin 16.4% 13.6%
56th		 13.7%
Operating margin 12.0% 7.3%
62nd		 8.2%
EBIT margin 12.8% 7.1%
62nd		 8.6%
Net margin 12.3% 4.7%
64th		 5.7%
NOPAT margin 11.7% 5.9%
64th		 7.0%
FCF margin 28.0% 20.3%
74th		 15.0%
Operating cash flow margin 30.3% 22.5%
75th		 18.4%
R&D / revenue 27.7% 18.2%
83rd		 12.9%
SG&A / revenue 36.1% 38.6%
43rd		 25.6%
Stock comp / revenue 16.2% 7.8%
83rd		 4.4%
Effective tax rate 2.6% 21.0%
9th		 21.0%

Returns on capital

MeasureWDAYIndustry medianIndustry percentileSector median
ROE (on average equity) 16.0% 7.9%
72nd		 9.4%
ROA 7.4% 3.0%
69th		 4.1%
ROIC 17.4% 6.6%
70th		 9.0%
ROCE 14.0% 5.7%
71st		 8.6%
Return on tangible assets 7.7% 4.6%
62nd		 5.9%
Cash ROIC (OCF / invested capital) 45.1% 29.6%
61st		 20.7%
Gross profitability (GP / assets) 48.6% 37.6%
67th		 30.0%
ROIC, 3-yr average 14.8% 4.8%
73rd		 7.4%
ROIC, 5-yr average 7.5% -1.1%
65th		 7.9%
ROE, 5-yr average 7.7% -2.6%
65th		 6.9%
Incremental ROIC -22.8% 13.7%
28th		 15.3%

Growth

MeasureWDAYIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 13.4% 15.1%
43rd		 14.3%
Revenue growth (QoQ) 4.3% 4.6%
43rd		 6.6%
Revenue CAGR, 3 yr 14.9% 13.7%
56th		 9.6%
Revenue CAGR, 5 yr 16.8% 16.6%
51st		 11.5%
Gross profit CAGR, 3 yr 15.9% 14.9%
56th		 10.9%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) 114.6% 27.2%
73rd		 21.6%
Net income CAGR, 3 yr —
EPS growth (TTM YoY) 131.7% 30.6%
74th		 22.3%
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 18.9% 28.9%
35th		 24.6%
FCF CAGR, 3 yr 22.7% 31.3%
37th		 19.3%
Operating cash flow CAGR, 3 yr 19.5% 28.0%
34th		 17.9%
Book value CAGR, 3 yr 2.9% 4.5%
44th		 6.8%
Dividend CAGR, 3 yr —
Sustainable growth rate 16.0% 15.5%
53rd		 14.2%

Margin history & stability

MeasureWDAYIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 75.7% 71.3%
64th		 53.2%
Operating margin, 3-yr average 7.4% 4.7%
58th		 6.6%
Net margin, 3-yr average 12.8% 5.1%
67th		 5.2%
FCF margin, 3-yr average 27.3% 19.8%
75th		 12.7%
Revenue stability (0-1) 1.00 0.97
96th		 0.87
Earnings stability (0-1) 0.55 0.56
48th		 0.45
Margin stability (0-1) 0.98 0.97
74th		 0.95

Liquidity (latest quarter)

MeasureWDAYIndustry medianIndustry percentileSector median
Cash & short-term investments $3.4B $434.8M
90th		 $494.1M
Net cash (− = net debt) −$369.0M $57.2M
26th		 $49.8M
Working capital −$604.0M $247.5M
8th		 $391.0M
Current ratio 0.91 1.74
19th		 1.92
Quick ratio 0.91 1.72
20th		 1.67
Cash ratio (cash + ST investments / current liabilities) 0.52 1.13
32nd		 0.95
Defensive interval (days) 300 days 370 days
40th		 521 days

Leverage & solvency (latest quarter)

MeasureWDAYIndustry medianIndustry percentileSector median
Total debt $3.8B $237.5M
88th		 $349.3M
Debt / equity 0.58 0.30
67th		 0.29
Net debt / equity 0.06 −0.22
61st		 −0.13
Debt / assets 23.8% 15.2%
63rd		 16.9%
Debt / capital 36.9% 23.1%
67th		 22.3%
Debt / EBITDA 2.26 2.26
50th		 1.78
Net debt / EBITDA 0.22 −0.32
62nd		 −0.18
Interest coverage (EBIT / interest) 11.7x 5.3x
70th		 5.8x
Cash interest coverage 27.8x 15.8x
69th		 12.8x
Debt payback (years of OCF) 1.2 yrs 1.0 yrs
53rd		 1.6 yrs
Liabilities / assets 59.3% 50.2%
62nd		 48.7%
IS credit model rating A+ — —
Implied credit spread (bps) 125 225
33rd		 175

Efficiency

MeasureWDAYIndustry medianIndustry percentileSector median
Asset turnover 0.60 0.59
53rd		 0.62
Fixed asset turnover 5.62 12.05
24th		 9.25
Inventory turnover —
Receivables turnover 5.8 6.5
42nd		 6.2
Days sales outstanding 63 days 55 days
60th		 59 days
Days inventory outstanding —
Days payables outstanding 15 days 31 days
20th		 46 days
Cash conversion cycle (days) 48 days 22 days
78th		 50 days
Capex / revenue 2.3% 1.3%
66th		 2.3%
Capex / depreciation 0.65 0.41
69th		 0.56
Operating expense ratio 63.4% 62.8%
52nd		 44.3%

Cash flow & earnings quality

MeasureWDAYIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.46 1.89
66th		 1.61
FCF / net income 2.27 1.70
68th		 1.33
FCF / operating cash flow 92.3% 94.0%
39th		 88.0%
Capex / operating cash flow 7.7% 6.0%
61st		 12.0%
Accruals ratio -10.8% -10.9%
51st		 -6.3%
Sloan accruals ratio -36.4% -4.7%
3rd		 -1.8%
Earnings quality score (0-1) 0.75 0.75
11th		 0.75

Dividends & buybacks

MeasureWDAYIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.0%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.00
Payout ratio (dividends / net income) 0.0% 0.0%
0th		 0.0%
Dividends / FCF 0.0% 0.0%
0th		 0.0%
Dividend growth (YoY) —
Buyback yield 11.4% 2.7%
88th		 1.2%
Shareholder yield (dividends + buybacks) 11.4% 3.1%
88th		 1.7%
Share count change (YoY) -7.4% -1.9%
17th		 0.1%
Buybacks, last 5 years $10.9B $309.1M
96th		 $215.3M

Scores & forensic checks

MeasureWDAYIndustry medianIndustry percentileSector median
IS score 75 56
85th		 56
IS profitability 66 37
77th		 40
IS growth 68 66
53rd		 65
IS value 34 38
35th		 39
IS momentum 93 80
82nd		 78
IS risk (safety) 80 80
50th		 100
IS quality 81 63
80th		 67
IS balance sheet 78 69
60th		 72
IS earnings quality 59 52
62nd		 61
IS cash flow 85 72
80th		 66
Piotroski F-score (0-9) 7 6
57th		 6
Altman Z-score 3.5 3.0
55th		 4.0
Beneish M-score −2.72 −2.74
51st		 −2.58
Ohlson O-score −8.14 −7.88
45th		 −8.00
IS credit score 77 62
62nd		 69

Per share

MeasureWDAYIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $5.00 $0.32
86th		 $0.84
Book value per share $25.82 $6.15
82nd		 $9.77
Tangible book per share $2.49 $1.97
52nd		 $3.22
Revenue per share $40.59 $7.54
86th		 $13.00
FCF per share $11.37 $1.56
88th		 $1.78
Operating cash flow per share $12.32 $1.77
88th		 $2.40
Cash per share $13.60 $3.77
85th		 $4.50

Size (TTM)

MeasureWDAYIndustry medianIndustry percentileSector median
Market cap $46.0B $3.9B
89th		 $4.7B
Revenue $10.2B $872.9M
94th		 $1.2B
EBITDA $1.7B $101.2M
90th		 $185.8M
Net income $1.3B $34.8M
90th		 $84.9M
Free cash flow $2.8B $198.7M
93rd		 $170.6M
Total assets $15.9B $1.8B
90th		 $2.4B
Shareholders' equity $6.5B $907.0M
86th		 $1.1B
Employees 20,896 1,988
95th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-12Garfield Mark S.
Chief Accounting Officer
 Open-market sale 918$189.45$173,91569,309
2026-10-09Duffield David A
10 percent owner
 Conversion 99,835——204,884
2026-10-09Duffield David A
10 percent owner
 Open-market sale 46,607$186.36$8.7M158,277
2026-10-09Duffield David A
10 percent owner
 Open-market sale 14,294$186.92$2.7M143,983
2026-10-09Duffield David A
10 percent owner
 Open-market sale 14,228$188.19$2.7M129,755
2026-10-09Duffield David A
10 percent owner
 Open-market sale 12,732$189.36$2.4M117,023
2026-10-09Duffield David A
10 percent owner
 Open-market sale 10,472$190.13$2.0M106,551
2026-10-09Duffield David A
10 percent owner
 Open-market sale 1,502$190.96$286,825105,049
2026-10-09Duffield David A
10 percent owner
 Conversion 99,835——35,480,751
2026-10-06Duffield David A
10 percent owner
 Conversion 99,228——204,277
2026-10-06Duffield David A
10 percent owner
 Open-market sale 2,800$184.80$517,450201,477
2026-10-06Duffield David A
10 percent owner
 Open-market sale 10,284$185.86$1.9M191,193

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired17462,835$395,015
ConversionAcquired191,940,583—
ConversionDisposed191,940,583—
Open-market saleDisposed1611,970,624$316.2M
Tax withholdingDisposed18101,542$16.6M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 53 notices · 3,534,738 shares · $565.3M
FiledFilerShares proposedEst. proceeds
2026-10-13Mark Garfield918$171,290
2026-10-09David A. Duffield Trust U/T/A 7/14/8899,835$18.8M
2026-10-06Gerrit Kazmaier2,729$515,672
2026-10-06David A. Duffield Trust U/T/A 7/14/8899,228$18.8M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 34 trades (22 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-08-28Michael McCaulHouseSale$1,001 - $15,0002026-10-16
2026-08-27Michael McCaulHouseSale$1,001 - $15,0002026-10-16
2026-08-25Michael McCaulHouseSale$1,001 - $15,0002026-10-16
2026-08-20Michael McCaulHouseSale$15,001 - $50,0002026-10-16
2022-11-11Ron WydenSenateSale (Full)$1,001 - $15,0002023-05-15
2022-11-11Ron WydenSenateSale (Full)$1,001 - $15,0002023-05-14
2022-11-11Ronald Lee WydenSenateSale (Full)$1,001 - $15,0002023-05-14
2022-11-11Ron WydenSenateSale (Full)$1,001 - $15,0002022-12-11
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.21,126,013$2.6B8.77%
VANGUARD CAPITAL MANAGEMENT LLC13,220,374$1.6B5.49%
VANGUARD PORTFOLIO MANAGEMENT LLC11,176,693$1.4B4.64%
STATE STREET CORP9,570,551$1.2B3.97%
First Eagle Investment Management, LLC8,824,517$1.1B3.66%
Invesco Ltd.8,144,776$997.1M3.38%
GEODE CAPITAL MANAGEMENT, LLC5,904,641$721.7M2.45%
GOLDMAN SACHS GROUP INC4,623,081$566.0M1.92%
FIL Ltd3,245,541$397.3M1.35%
CITIGROUP INC3,062,575$374.9M1.27%
Pictet Asset Management Holding SA2,819,408$345.2M1.17%
BANK OF AMERICA CORP /DE/2,500,641$306.1M1.04%
MORGAN STANLEY2,437,349$298.4M1.01%
UBS Group AG2,413,355$295.4M1.00%
GENERATION INVESTMENT MANAGEMENT LLP2,311,084$282.9M0.96%

Institutional ownership by quarter

2023-092026-0684.0%
% of shares held by 13F filers
2023-092026-06914
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3091484.0%135352331147
2026-03-3193879.7%154351332279
2025-12-311,08879.1%156316488132
2025-09-301,09179.2%132373458154
2025-06-301,13477.1%123463411116
2025-03-311,14577.8%13449637397
2024-12-311,12478.2%184469339114
2024-09-301,07273.9%13547632587
2024-06-301,03573.6%119483311131
2024-03-311,06574.3%12245934587
2023-12-311,04673.6%20236935568
2023-09-3092973.9%12037030271

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-09-04SCHEDULE 13G/ABlackRock, Inc.10.0%19,666,221
2026-08-12SCHEDULE 13G/AHotchkis and Wiley Capital Management, LLC6.3%12,679,129
2026-07-30SCHEDULE 13G/ABlackRock, Inc.9.7%19,580,021
2026-04-29SCHEDULE 13GVanguard Portfolio Management5.6%11,704,297
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.05%$1.2B
VTI0.05%$1.2B
VSMPX0.05%$1.2B
VTSAX0.05%$1.2B
VOO0.06%$1.0B
VFIAX0.06%$1.0B

Share structure

Shares outstanding241,000,008
Float194,286,970
Free float80.6%

Income statement

Fiscal years, USD
FY2022FY2023FY2024FY2025FY2026
Revenue$5.1B$6.2B$7.3B$8.4B$9.6B
Cost of revenue$1.4B$1.7B$1.8B$2.1B$2.3B
Gross profit$3.7B$4.5B$5.5B$6.4B$7.2B
R&D$1.9B$2.2B$2.5B$2.6B$2.7B
SG&A$1.9B$2.4B$2.8B$3.3B$5.2B
Operating income−$116.0M−$222.0M$183.0M$415.0M$1.0B
EBITDA$377.0M$206.0M$752.0M$1.1B$1.4B
Pretax income$16.0M−$260.0M$356.0M$638.0M$1.0B
Income tax−$13.0M$107.0M−$1.0B$112.0M$316.0M
Net income$29.0M−$367.0M$1.4B$526.0M$693.0M
EPS, diluted$0.12$-1.44$5.21$1.95$2.58
Diluted shares254.0M254.8M265.3M269.2M263.4M

Balance sheet

FY2022FY2023FY2024FY2025FY2026
Cash & short-term investments$3.6B$6.1B$7.8B$8.0B$5.4B
Receivables$1.2B$1.6B$1.6B$2.0B$2.3B
Inventory$0$0$0$0$0
Total current assets$5.1B$7.9B$9.7B$10.3B$8.4B
PP&E, net$1.4B$1.5B$1.5B$1.6B$1.8B
Goodwill & intangibles$3.3B$3.2B$3.1B$3.9B$5.9B
Total assets$10.5B$13.5B$16.5B$18.0B$18.1B
Accounts payable$55.5M$153.8M$78.0M$108.0M$142.0M
Total current liabilities$5.1B$4.6B$5.1B$5.5B$6.4B
Long-term debt$617.4M$3.0B$3.0B$3.0B$3.0B
Total liabilities$6.0B$7.9B$8.4B$8.9B$10.3B
Shareholders' equity$4.5B$5.6B$8.1B$9.0B$7.8B

Cash flow statement

Outflows are negative
FY2022FY2023FY2024FY2025FY2026
Net income$29.0M−$366.7M$1.4B$526.0M$693.0M
Depreciation & amortization$343.7M$364.4M$282.0M$326.0M$347.0M
Stock-based compensation$1.1B$1.3B$1.4B$1.5B$1.6B
Change in working capital$108.1M$48.2M−$34.0M−$218.0M−$329.0M
Operating cash flow$1.7B$1.7B$2.1B$2.5B$2.9B
Capital expenditure−$272.3M−$360.3M−$238.0M−$272.0M−$162.0M
Free cash flow$1.4B$1.3B$1.9B$2.2B$2.8B
Investing cash flow−$1.6B−$2.5B−$1.8B−$1.8B$333.0M
Net debt issued / repaid−$37.6M$1.1B$0$0$0
Buybacks$0−$74.7M−$423.0M−$700.0M−$2.9B
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2022FY2023FY2024FY2025FY2026
Gross margin72.2%72.4%75.6%75.5%75.7%
Operating margin-2.3%-3.6%2.3%4.9%8.9%
Net margin0.6%-5.9%19.1%6.2%7.3%
FCF margin26.8%20.9%26.4%25.9%29.1%
ROE0.8%-7.2%20.2%6.1%8.2%
ROIC-7.1%-6.5%18.1%7.8%9.4%
ROA0.3%-3.1%9.2%3.1%3.8%
Debt / equity0.460.580.410.370.49
Interest coverage2.0xn/m4.1x6.6x9.5x
Current ratio1.001.711.921.851.32
Revenue growth+19.0%+21.0%+16.5%+16.6%+13.1%
EPS growth+109.9%−1,334.3%+460.6%−62.1%+35.0%
P/E at year end2,191.1xn/m56.6x134.5x66.8x
EV / EBITDA at year end166.8x211.9x97.9x61.3x30.9x
FCF yield at year end2.14%2.78%2.44%3.10%6.00%
Dividend payout0.0%—0.0%0.0%0.0%

Revenue by segment

FY2022FY2023FY2024FY2025FY2026
Subscription Services$4.5B$5.6B$6.6B$7.7B$8.8B
Professional Services$592.5M$648.6M$656.0M$728.0M$719.0M

Revenue by region · FY2026

UNITED STATES$7.2B · 75%
Non-US$2.4B · 25%

Street estimates by fiscal year

Next report 2026-11-24 · consensus EPS $2.74 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$9.5B$9.5B – $9.7B$9.08$8.82 – $9.162721.0x
2027$10.7B$10.7B – $10.7B$11.09$10.64 – $11.652317.2x
2028$11.8B$11.6B – $11.9B$13.24$11.90 – $14.542314.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-27$2.61$2.75+5.4%$2.6B$2.6B+0.5%
2026-05-21$2.51$2.66+6.0%$2.5B$2.5B+1.0%
2026-02-24$2.32$2.47+6.5%$2.5B$2.5B+0.3%
2025-11-25$2.17$2.32+6.9%$2.4B$2.4B+0.6%
2025-08-21$2.11$2.21+4.7%$2.3B$2.3B−0.1%
2025-05-22$2.01$2.23+10.9%$2.2B$2.2B+0.6%
2025-02-25$1.78$1.92+7.9%$2.2B$2.2B+0.9%
2024-11-26$1.76$1.89+7.4%$2.1B$2.2B+0.7%
2024-08-22$1.65$1.75+6.1%$2.1B$2.1B+0.2%
2024-05-23$1.60$1.74+8.7%$2.0B$2.0B+0.3%
2024-02-26$1.47$1.57+6.8%$1.9B$1.9B−0.4%
2023-11-28$1.40$1.53+9.3%$1.8B$1.9B+0.2%
2023-08-24$1.25$1.43+14.4%$1.8B$1.8B−0.2%
2023-05-25$1.11$1.31+18.0%$1.7B$1.7B+0.0%
2023-02-27$0.89$0.99+11.2%$1.6B$1.6B+0.1%
2022-11-29$0.84$0.99+17.9%$1.6B$1.6B+0.5%
2022-08-25$0.79$0.83+5.1%$1.5B$1.5B+1.0%
2022-05-26$0.86$0.83−3.5%$1.4B$1.4B+0.7%
2022-02-28$0.71$0.78+9.9%$1.4B$1.4B+1.8%
2021-11-18$0.87$1.10+26.4%$1.3B$1.3B+1.7%
2021-08-26$0.78$1.23+57.7%$1.3B$1.3B−3.6%
2021-05-26$0.73$0.87+19.2%$1.2B$1.2B+1.3%
2021-02-25$0.55$0.73+32.7%$1.1B$1.1B+1.2%
2020-11-19$0.67$0.86+28.4%$792.3M$1.1B+38.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.606-150.706-220.406-290.707-060.707-130.807-201.407-270.708-032.208-101.308-171.508-240.908-31
Week ofNotionalSharesTrades
2026-08-31$884.1M4,405,43195,586
2026-08-24$1.5B7,520,379121,850
2026-08-17$1.3B6,396,684119,228
2026-08-10$2.2B10,843,419172,452
2026-08-03$731.0M4,293,98098,614
2026-07-27$1.4B8,878,993147,302

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1550.7%
DateShort shareShort volumeTotal volume
2026-10-1550.7%539,9811,065,472
2026-10-1450.8%474,887935,139
2026-10-1352.4%418,075798,405
2026-10-1253.1%389,434733,019
2026-10-0945.4%312,818689,533
2026-10-0846.5%248,985535,734
2026-10-0754.5%286,210525,107
2026-10-0655.0%326,139593,478
2026-10-0546.7%369,114791,220
2026-10-0249.7%210,645423,634
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+3.7Jan+0.4Feb-2.3Mar-1.0Apr+0.8May+1.7Jun+2.1Jul+7.3Aug-3.7Sep+1.4Oct+4.8Nov-1.0Dec
MonthAvg returnUp yearsYears
Jan+3.7%64%14
Feb+0.4%71%14
Mar−2.3%36%14
Apr−1.0%46%13
May+0.8%69%13
Jun+1.7%54%13
Jul+2.1%54%13
Aug+7.3%85%13
Sep−3.7%23%13
Oct+1.4%46%13
Nov+4.8%62%13
Dec−1.0%57%14
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1452.1
MFI60.6
ADX18.9
Stochastic %K / %D59.5 / 52.5
Williams %R-53.5
CCI111
TSI / signal1.7 / 1.2
Chaikin money flow-0.09
ATR$7.38
Bollinger width5.7%
Volume vs 20-day avg1.21x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$188.94 (+1.0%)
SMA 50$191.46 (−0.3%)
SMA 200$155.79 (+22.5%)
EMA 21$189.29 (+0.8%)
EMA 50$184.11 (+3.6%)
EMA 200$172.92 (+10.3%)
Bollinger upper$194.36 (−1.8%)
Bollinger lower$183.52 (+4.0%)
Parabolic SAR$181.85 (+4.9%)
Open the live chart, 110+ indicators

About Workday, Inc.

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.

https://www.workday.com

Key executives

NameTitlePayBorn
Aneel BhusriCo-Founder, CEO & Executive Chairman of the Board$3.9M1966
Gerrit KazmaierPresident of Product & Technology$1.5M—
Zane C. RoweChief Financial Officer$1.2M1971
Richard Harry SauerChief Legal Officer, Head of Corporate Affairs & Corporate Secretary$928,2541963
Robert EnslinPresident & Chief Commercial Officer$633,2361963
Gabriel MonroyChief Technology Officer—1980
Justin Allen FurbyVice President of Investor Relations——
Rani JohnsonChief Information Officer—1975

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Gerrit Kazmaier President, Product and Technology2026$629,041$26.9M$384,067$28.4M
Carl M. Eschenbach Former Chief Executive Officer and Director2026$1.0M$23.0M$1.6M$26.0M
Aneel Bhusri Co-Founder, Chief Executive Officer, and Chair of the Board2026$65,000$15.3M$0$19.2M
Zane Rowe Chief Financial Officer2026$720,000$10.0M$439,603$11.1M
Richard H. Sauer Chief Legal Officer and Head of Corporate Affairs2026$568,904$6.9M$347,350$7.8M

Employees

10k201912k202012k202115k202218k202319k202420k202521k2026

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Narrow · Network Effects · 2026-07-31
Cost advantage53
Intangibles57
Switching costs40
Network effect70
Efficient scale68
Our component scores (0-100) and overall 55.6; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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