Workday (WDAY) Financials

$239.90 +0.60 (+0.25%)

Closing price 05/28/2025 04:00 PM Eastern

Extended Trading

$240.50 +0.60 (+0.25%)

As of 09:06 AM Eastern

Annual Income Statements for Workday

This table shows Workday's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	1/31/2025	1/31/2024	1/31/2023	1/31/2022	1/31/2021	1/31/2020	1/31/2019	1/31/2018	1/31/2017	1/31/2016	1/31/2015
Net Income / (Loss) Attributable to Common Shareholders	526	1,381	-367	29	-282	-481	-418	-321	-385	-275	-248
Consolidated Net Income / (Loss)	526	1,381	-367	29	-282	-481	-418	-321	-385	-275	-248
Net Income / (Loss) Continuing Operations	526	1,381	-367	29	-282	-481	-418	-321	-385	-275	-248
Total Pre-Tax Income	638	356	-260	16	-275	-482	-424	-315	-386	-274	-246
Total Operating Income	415	183	-222	-116	-249	-502	-463	-303	-353	-250	-216
Total Gross Profit	6,377	5,488	4,506	3,711	3,120	2,562	1,987	1,514	1,091	782	523
Total Revenue	8,446	7,259	6,216	5,139	4,318	3,627	2,822	2,143	1,574	1,157	788
Operating Revenue	8,446	7,259	6,216	5,139	4,318	3,627	2,822	2,143	1,574	1,157	788
Total Cost of Revenue	2,069	1,771	1,710	1,428	1,198	1,065	835	629	484	374	265
Operating Cost of Revenue	2,069	1,771	1,710	1,428	1,198	1,065	835	629	484	374	265
Total Operating Expenses	5,962	5,305	4,728	3,827	3,368	3,064	2,451	1,817	1,444	1,032	739
Selling, General & Admin Expense	820	702	599	486	414	368	347	223	198	149	106
Marketing Expense	2,432	2,139	1,842	1,462	1,233	1,147	891	683	565	414	316
Research & Development Expense	2,626	2,464	2,247	1,879	1,721	1,550	1,212	911	681	470	317
Restructuring Charge	84	0.00	40	-	-	-	-	-	-	-	-
Total Other Income / (Expense), net	223	173	-38	132	-27	20	40	-12	-32	-24	-30
Other Income / (Expense), net	223	173	-38	132	-27	20	40	-12	-32	-24	-30
Income Tax Expense	112	-1,025	107	-13	7.30	-1.77	-5.49	6.44	-0.81	1.02	2.01
Basic Earnings per Share	$1.98	$5.28	($1.44)	$0.12	($1.19)	($2.12)	($1.93)	($1.55)	($1.94)	($1.45)	($1.35)
Weighted Average Basic Shares Outstanding	265.26M	261.34M	254.82M	247.25M	237.02M	227.19M	216.79M	207.77M	198.21M	190.02M	183.70M
Diluted Earnings per Share	$1.95	$5.21	($1.44)	$0.12	($1.19)	($2.12)	($1.93)	($1.55)	($1.94)	($1.45)	($1.35)
Weighted Average Diluted Shares Outstanding	269.21M	265.29M	254.82M	254.03M	237.02M	227.19M	216.79M	207.77M	198.21M	190.02M	183.70M
Weighted Average Basic & Diluted Shares Outstanding	266M	264M	259M	251M	237.02M	227.19M	216.79M	207.77M	198.21M	190.02M	183.70M

This table shows Workday's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Net Income / (Loss) Attributable to Common Shareholders	94	193	132	107	1,188	114	79	0.00	-126	-75	-64
Consolidated Net Income / (Loss)	94	193	132	107	1,188	114	79	0.00	-126	-75	-64
Net Income / (Loss) Continuing Operations	94	193	132	107	1,188	114	79	0.00	-126	-75	-64
Total Pre-Tax Income	120	227	168	123	138	129	82	7.00	-78	-22	-67
Total Operating Income	75	165	111	64	79	88	36	-20	-89	-26	-34
Total Gross Profit	1,672	1,630	1,574	1,501	1,461	1,421	1,339	1,267	1,198	1,163	1,113
Total Revenue	2,211	2,160	2,085	1,990	1,922	1,866	1,787	1,684	1,646	1,599	1,536
Operating Revenue	2,211	2,160	2,085	1,990	1,922	1,866	1,787	1,684	1,646	1,599	1,536
Total Cost of Revenue	539	530	511	489	461	445	448	417	448	436	423
Operating Cost of Revenue	539	530	511	489	461	445	448	417	448	436	423
Total Operating Expenses	1,597	1,465	1,463	1,437	1,382	1,333	1,303	1,287	1,287	1,190	1,147
Selling, General & Admin Expense	211	198	203	208	189	176	169	168	171	154	140
Marketing Expense	628	620	611	573	558	538	524	519	484	470	459
Research & Development Expense	674	647	649	656	635	619	610	600	592	566	548
Total Other Income / (Expense), net	45	62	57	59	59	41	46	27	11	4.16	-33
Other Income / (Expense), net	45	62	57	59	59	41	46	27	11	4.16	-33
Income Tax Expense	26	34	36	16	-1,050	15	3.00	7.00	48	53	-2.71
Basic Earnings per Share	$0.35	$0.73	$0.50	$0.40	$4.55	$0.43	$0.30	$0.00	($0.49)	($0.29)	($0.25)
Weighted Average Basic Shares Outstanding	265.26M	265.41M	265.32M	264.44M	261.34M	262.15M	261.19M	258.82M	254.82M	255.75M	254.36M
Diluted Earnings per Share	$0.34	$0.72	$0.49	$0.40	$4.48	$0.43	$0.30	$0.00	($0.49)	($0.29)	($0.25)
Weighted Average Diluted Shares Outstanding	269.21M	268.55M	267.95M	270.30M	265.29M	266.38M	264.44M	261.37M	254.82M	255.75M	254.36M
Weighted Average Basic & Diluted Shares Outstanding	266M	266M	265M	265M	264M	263M	262M	261M	259M	257M	256M

This table details how cash moves in and out of Workday's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	1/31/2025	1/31/2024	1/31/2023	1/31/2022	1/31/2021	1/31/2020	1/31/2019	1/31/2018	1/31/2017	1/31/2016	1/31/2015
Net Change in Cash & Equivalents	-470	129	354	153	653	93	-493	593	242	1.90	-283
Net Cash From Operating Activities	2,461	2,149	1,657	1,651	1,268	865	607	466	351	259	102
Net Cash From Continuing Operating Activities	2,461	2,149	1,657	1,651	1,268	865	607	466	351	259	102
Net Income / (Loss) Continuing Operations	526	1,381	-367	29	-282	-481	-418	-321	-385	-275	-248
Consolidated Net Income / (Loss)	526	1,381	-367	29	-282	-481	-418	-321	-385	-275	-248
Depreciation Expense	326	282	364	344	294	276	198	136	106	86	59
Amortization Expense	138	64	133	142	166	145	131	101	72	62	43
Non-Cash Adjustments To Reconcile Net Income	2,054	2,007	1,927	1,579	1,404	1,247	944	786	719	248	159
Changes in Operating Assets and Liabilities, net	-583	-1,585	-400	-443	-313	-323	-248	-236	-162	138	88
Net Cash From Investing Activities	-1,781	-1,751	-2,506	-1,607	-1,242	-897	-843	-979	-169	-300	-404
Net Cash From Continuing Investing Activities	-1,781	-1,751	-2,506	-1,607	-1,242	-896	-843	-979	-169	-300	-404
Purchase of Property, Plant & Equipment	-269	-232	-364	-435	-259	-244	-384	-142	-228	-134	-104
Acquisitions	-828	-18	-1.00	-1,198	-2.95	-474	-1,485	-17	-148	-31	-26
Purchase of Investments	-4,808	-6,166	-7,206	-2,982	-2,799	-1,922	-2,033	-2,657	-1,918	-2,142	-1,748
Sale and/or Maturity of Investments	4,124	4,665	5,065	3,008	1,820	1,743	3,059	1,836	2,124	2,008	1,473
Net Cash From Financing Activities	-1,150	-268	1,204	110	625	125	-257	1,106	60	44	19
Net Cash From Continuing Financing Activities	-1,150	-268	1,204	110	625	125	-257	1,106	60	44	19
Repayment of Debt	0.00	0.00	-1,851	-38	-271	-0.52	-350	-0.17	0.00	-1.55	-9.76
Repurchase of Common Equity	-700	-423	-75	0.00	0.00	-	-	-	-	-	-
Issuance of Debt	0.00	0.00	2,978	0.00	748	-0.03	0.00	1,132	1.60	0.00	1.27
Issuance of Common Equity	186	177	152	148	149	126	94	150	58	46	36
Other Financing Activities, net	-636	-22	0.00	-	-	-	-	-176	0.00	0.00	-8.29
Effect of Exchange Rate Changes	0.00	-1.00	-1.00	-1.00	1.33	-	-	-	0.39	-0.70	-0.43
Cash Interest Paid	110	110	60	13	14	3.31	0.04	0.08	3.16	6.41	6.87
Cash Income Taxes Paid	65	39	89	13	9.94	-	6.01	3.42	5.32	2.12	0.94

This table details how cash moves in and out of Workday's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Net Change in Cash & Equivalents	231	-326	-122	-253	448	128	-8.00	-439	307	-909	-290
Net Cash From Operating Activities	1,112	406	571	372	996	450	426	277	694	409	114
Net Cash From Continuing Operating Activities	1,112	406	571	372	996	450	426	277	694	409	114
Net Income / (Loss) Continuing Operations	94	193	132	107	1,188	114	79	0.00	-126	-75	-64
Consolidated Net Income / (Loss)	94	193	132	107	1,188	114	79	0.00	-126	-75	-64
Depreciation Expense	91	81	79	75	72	68	72	70	90	92	93
Amortization Expense	43	36	33	26	20	15	14	15	22	29	42
Non-Cash Adjustments To Reconcile Net Income	1,483	272	406	-107	1,249	258	448	52	1,176	290	422
Changes in Operating Assets and Liabilities, net	-599	-176	-79	271	-1,533	-5.00	-187	140	-468	73	-379
Net Cash From Investing Activities	-727	-451	-345	-258	-481	-172	-385	-713	-380	-168	-487
Net Cash From Continuing Investing Activities	-727	-451	-345	-258	-481	-172	-385	-713	-380	-168	-487
Purchase of Property, Plant & Equipment	-86	-47	-55	-81	-49	-59	-65	-59	-78	-59	-169
Acquisitions	-1.00	-305	-10	-512	1.00	-10	-	-9.00	-0.30	-0.70	-
Purchase of Investments	-1,664	-994	-1,372	-778	-1,409	-1,273	-1,585	-1,899	-1,535	-2,314	-1,331
Sale and/or Maturity of Investments	1,024	895	1,092	1,113	976	1,170	1,265	1,254	1,232	2,206	1,013
Net Cash From Financing Activities	-154	-281	-348	-367	-67	-149	-50	-2.00	-7.72	-1,149	83
Net Cash From Continuing Financing Activities	-154	-281	-348	-367	-67	-149	-50	-2.00	-7.72	-1,149	83
Repurchase of Common Equity	-103	-157	-312	-128	-140	-144	-139	0.00	-75	-	-
Issuance of Common Equity	80	-	106	0.00	82	-	94	1.00	67	0.71	83
Other Financing Activities, net	-131	-124	-142	-239	-9.00	-5.00	-5.00	-3.00	-	-	-
Cash Income Taxes Paid	17	13	29	6.00	4.00	3.00	21	11	79	2.09	3.27

This table presents Workday's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	1/31/2025	1/31/2024	1/31/2023	1/31/2022	1/31/2021	1/31/2020	1/31/2019	1/31/2018	1/31/2017	1/31/2016	1/31/2015
Total Assets	17,977	16,452	13,486	10,499	8,718	6,816	5,521	4,947	3,268	2,730	2,350
Total Current Assets	10,545	9,939	8,108	5,214	4,802	3,095	2,701	3,957	2,524	2,362	2,108
Cash & Equivalents	1,543	2,012	1,886	1,534	1,384	731	639	1,134	540	300	298
Short-Term Investments	6,474	5,801	4,235	2,110	2,151	1,213	1,140	2,133	1,457	1,669	1,560
Accounts Receivable	1,950	1,639	1,570	1,243	1,032	878	705	528	410	293	188
Prepaid Expenses	311	255	226	174	111	172	137	98	67	78	42
Other Current Assets	267	232	191	153	123	100	81	63	51	22	20
Plant, Property, & Equipment, net	1,239	1,234	1,201	1,123	972	936	797	547	366	214	140
Total Noncurrent Assets	6,193	5,279	4,177	4,161	2,944	2,786	2,023	444	378	154	102
Goodwill	3,478	2,846	2,840	2,840	1,820	1,819	1,379	159	158	50	35
Intangible Assets	361	233	306	391	249	308	313	34	49	15	-
Noncurrent Deferred & Refundable Income Taxes	1,039	1,065	13	-	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	1,315	1,135	1,018	930	876	658	331	250	171	88	67
Total Liabilities & Shareholders' Equity	17,977	16,452	13,486	10,499	8,718	6,816	5,521	4,947	3,268	2,730	2,350
Total Liabilities	8,943	8,370	7,901	5,963	5,441	4,330	3,562	3,367	1,992	1,594	1,224
Total Current Liabilities	5,548	5,055	4,628	5,068	4,283	2,969	2,431	2,059	1,285	923	641
Accounts Payable	108	78	154	55	76	58	29	21	27	20	11
Accrued Expenses	296	287	260	196	169	130	124	122	62	43	24
Current Deferred Revenue	4,467	4,057	3,559	3,111	2,557	2,223	1,838	1,426	1,086	769	547
Current Employee Benefit Liabilities	578	544	564	403	285	248	208	148	111	91	56
Other Current Liabilities	99	89	91	81	93	66	-	-	-	-	-
Total Noncurrent Liabilities	3,395	3,315	3,273	896	1,158	1,360	1,132	1,308	706	671	583
Long-Term Debt	2,984	2,980	2,976	617	692	1,018	972	1,150	534	507	482
Noncurrent Deferred Revenue	80	70	75	72	80	86	112	111	135	131	86
Other Noncurrent Operating Liabilities	331	265	222	207	386	256	48	47	37	33	15
Commitments & Contingencies	0.00	0.00	0.00	-	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,034	8,082	5,585	4,535	3,278	2,487	1,958	1,580	1,277	1,136	1,126
Total Preferred & Common Equity	9,034	8,082	5,585	4,535	3,278	2,487	1,958	1,580	1,277	1,136	1,126
Preferred Stock	0.00	0.00	0.00	-	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	9,034	8,082	5,585	4,547	3,278	2,487	1,958	1,580	1,276	1,136	1,126
Common Stock	11,463	10,400	8,829	7,284	6,255	5,090	4,106	3,354	2,681	2,247	1,948
Retained Earnings	-1,205	-1,731	-3,112	-2,745	-2,910	-2,627	-2,146	-1,728	-1,407	-1,112	-822
Treasury Stock	-1,308	-608	-	-	-12	0.00	-	-	-	-	-
Accumulated Other Comprehensive Income / (Loss)	84	21	53	7.71	-55	23	-0.81	-46	2.07	0.80	-0.14

This table presents Workday's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	10/31/2024	7/31/2024	4/30/2024	10/31/2023	7/31/2023	4/30/2023	10/31/2022	7/31/2022	4/30/2022	10/31/2021
Total Assets	16,424	16,234	15,941	13,926	13,735	13,253	12,390	13,250	12,799	9,441
Total Current Assets	9,078	9,200	8,874	8,574	8,382	7,873	6,970	7,805	7,443	4,694
Cash & Equivalents	1,311	1,635	1,752	1,564	1,436	1,444	1,576	2,487	2,776	1,297
Short-Term Investments	5,846	5,738	5,430	5,316	5,221	4,885	3,916	3,806	3,479	2,258
Accounts Receivable	1,404	1,292	1,133	1,225	1,271	1,089	1,040	1,105	778	865
Prepaid Expenses	273	298	327	262	255	263	267	241	253	138
Other Current Assets	244	237	232	208	199	192	171	165	157	136
Plant, Property, & Equipment, net	1,263	1,259	1,238	1,207	1,222	1,218	1,219	1,233	1,186	1,120
Total Noncurrent Assets	6,083	5,775	5,829	4,145	4,132	4,162	4,200	4,212	4,170	3,627
Goodwill	3,479	3,257	3,257	2,846	2,840	2,840	2,840	2,840	2,840	2,428
Intangible Assets	383	331	351	249	263	284	327	348	369	372
Noncurrent Deferred & Refundable Income Taxes	1,031	1,022	1,056	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	1,190	1,165	1,165	1,050	1,029	1,037	1,034	1,024	960	827
Total Liabilities & Shareholders' Equity	16,424	16,234	15,941	13,926	13,735	13,253	12,390	13,250	12,799	9,441
Total Liabilities	7,800	7,889	7,778	7,301	7,461	7,311	6,981	8,122	8,018	5,225
Total Current Liabilities	4,422	4,513	4,428	4,029	4,182	4,044	3,723	4,858	4,781	4,275
Accounts Payable	74	87	76	79	89	113	76	61	123	48
Accrued Expenses	323	292	254	235	259	227	335	294	247	196
Current Deferred Revenue	3,447	3,549	3,552	3,197	3,309	3,228	2,816	2,889	2,820	2,423
Current Employee Benefit Liabilities	476	487	451	420	426	381	407	374	362	312
Other Current Liabilities	102	98	95	98	99	95	90	91	81	83
Total Noncurrent Liabilities	3,378	3,376	3,350	3,272	3,279	3,267	3,257	3,264	3,237	950
Long-Term Debt	2,983	2,982	2,981	2,979	2,978	2,977	2,975	2,974	2,973	636
Noncurrent Deferred Revenue	64	62	61	62	60	62	64	54	59	71
Other Noncurrent Operating Liabilities	331	332	308	231	240	228	219	236	205	243
Total Equity & Noncontrolling Interests	8,624	8,345	8,163	6,625	6,275	5,942	5,409	5,128	4,781	4,216
Total Preferred & Common Equity	8,624	8,345	8,163	6,625	6,275	5,942	5,409	5,128	4,781	4,216
Total Common Equity	8,624	8,345	8,163	6,625	6,275	5,942	5,409	5,128	4,781	4,216
Common Stock	11,115	10,869	10,512	9,982	9,638	9,195	8,401	7,988	7,597	6,920
Retained Earnings	-1,299	-1,492	-1,624	-2,919	-3,033	-3,111	-2,986	-2,911	-2,847	-2,671
Treasury Stock	-1,208	-1,051	-742	-471	-324	-185	-110	-13	-13	-12
Accumulated Other Comprehensive Income / (Loss)	16	19	17	33	-6.78	43	104	63	43	-21

This table displays calculated financial ratios and metrics derived from Workday's official financial filings.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	1/31/2025	1/31/2024	1/31/2023	1/31/2022	1/31/2021	1/31/2020	1/31/2019	1/31/2018	1/31/2017	1/31/2016	1/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.35%	16.78%	20.96%	19.01%	19.04%	28.53%	31.69%	36.12%	36.12%	46.81%	68.01%
EBITDA Growth	56.98%	196.20%	-52.79%	171.55%	400.62%	34.88%	-21.71%	62.59%	-63.87%	11.69%	-30.85%
EBIT Growth	79.21%	236.92%	-1,725.00%	105.82%	42.97%	-13.85%	-34.62%	18.35%	-40.68%	-11.41%	-43.99%
NOPAT Growth	-51.80%	556.82%	26.09%	-20.82%	50.50%	-8.41%	-52.79%	14.12%	-41.35%	-15.80%	-40.72%
Net Income Growth	-61.91%	476.29%	-1,365.52%	110.27%	41.24%	-14.92%	-30.21%	16.50%	-39.87%	-10.91%	-43.75%
EPS Growth	-62.57%	461.81%	-1,300.00%	110.08%	43.87%	-9.84%	-24.52%	20.10%	-33.79%	-7.41%	-33.66%
Operating Cash Flow Growth	14.52%	29.69%	0.36%	30.16%	46.71%	42.52%	30.26%	32.83%	35.57%	153.56%	120.49%
Free Cash Flow Firm Growth	-313.56%	-173.24%	109.64%	-1,608.63%	112.07%	59.53%	-843.94%	47.88%	-305.12%	21.90%	-96.20%
Invested Capital Growth	23.15%	33.16%	-10.65%	77.64%	-14.80%	30.29%	806.06%	-5.61%	43.00%	-32.14%	-13.11%
Revenue Q/Q Growth	3.54%	3.95%	4.54%	5.00%	3.73%	5.46%	7.88%	7.14%	8.39%	8.59%	12.00%
EBITDA Q/Q Growth	2.23%	38.76%	-4.92%	-0.61%	52.91%	-1.40%	5.40%	28.00%	-19.85%	11.04%	2.57%
EBIT Q/Q Growth	-2.74%	154.23%	2.27%	-49.09%	18.06%	-5.25%	-4.10%	0.88%	-7.28%	-2.40%	-1.55%
NOPAT Q/Q Growth	-66.93%	9,626.69%	5.03%	-140.68%	22.65%	-5.42%	-9.18%	2.45%	-9.41%	-3.39%	-1.13%
Net Income Q/Q Growth	-67.53%	1,959.60%	-16.63%	-6.21%	16.61%	-5.16%	-3.79%	-0.26%	-6.07%	-2.53%	-1.43%
EPS Q/Q Growth	-67.98%	2,070.83%	-18.03%	20.00%	18.49%	-3.92%	-2.66%	0.64%	-5.43%	-1.40%	0.74%
Operating Cash Flow Q/Q Growth	4.95%	16.33%	4.99%	3.88%	25.36%	5.70%	25.68%	3.75%	3.31%	24.09%	15.23%
Free Cash Flow Firm Q/Q Growth	40.73%	-156.45%	124.76%	-108.30%	113.58%	-117.87%	1.60%	24.95%	-61.43%	21.79%	1.29%
Invested Capital Q/Q Growth	-10.09%	19.28%	-15.63%	8.84%	-20.04%	23.39%	-3.96%	0.65%	25.35%	-23.99%	-14.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.50%	75.60%	72.49%	72.21%	72.25%	70.63%	70.41%	70.63%	69.29%	67.63%	66.39%
EBITDA Margin	13.05%	9.67%	3.81%	9.77%	4.28%	-1.70%	-3.35%	-3.62%	-13.17%	-10.94%	-18.19%
Operating Margin	4.91%	2.52%	-3.57%	-2.26%	-5.76%	-13.85%	-16.42%	-14.15%	-22.43%	-21.60%	-27.38%
EBIT Margin	7.55%	4.90%	-4.18%	0.31%	-6.37%	-13.30%	-15.02%	-14.69%	-24.49%	-23.69%	-31.22%
Profit (Net Income) Margin	6.23%	19.02%	-5.90%	0.56%	-6.54%	-13.25%	-14.82%	-14.99%	-24.43%	-23.78%	-31.48%
Tax Burden Percent	82.45%	387.92%	141.15%	181.25%	102.65%	99.63%	98.70%	102.04%	99.79%	100.37%	100.82%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	17.55%	-287.92%	0.00%	-81.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	9.44%	24.96%	-6.01%	-9.85%	-10.42%	-22.05%	-54.56%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	5.71%	8.13%	2.54%	-23.35%	-1.47%	-1.49%	-46.57%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-3.29%	-4.75%	-1.24%	10.60%	0.62%	0.42%	30.93%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	6.15%	20.21%	-7.25%	0.74%	-9.80%	-21.63%	-23.64%	-22.49%	-31.89%	-24.32%	-21.44%
Cash Return on Invested Capital (CROIC)	-11.31%	-3.48%	5.23%	-65.78%	5.57%	-48.35%	-137.58%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	3.71%	2.38%	-2.17%	0.17%	-3.54%	-7.82%	-8.10%	-7.66%	-12.85%	-10.79%	-10.87%
Return on Assets (ROA)	3.06%	9.23%	-3.06%	0.30%	-3.64%	-7.79%	-7.99%	-7.82%	-12.83%	-10.83%	-10.96%
Return on Common Equity (ROCE)	6.15%	20.21%	-7.26%	0.74%	-9.80%	-21.63%	-23.64%	-22.48%	-31.88%	-24.31%	-21.44%
Return on Equity Simple (ROE_SIMPLE)	5.82%	17.09%	-6.57%	0.64%	-8.62%	-19.33%	-21.36%	-20.33%	-30.13%	-24.21%	-22.02%
Net Operating Profit after Tax (NOPAT)	342	710	-155	-210	-174	-352	-324	-212	-247	-175	-151
NOPAT Margin	4.05%	9.78%	-2.50%	-4.09%	-4.03%	-9.69%	-11.49%	-9.90%	-15.70%	-15.12%	-19.16%
Net Nonoperating Expense Percent (NNEP)	3.73%	16.82%	-8.55%	13.50%	-8.95%	-20.56%	-8.00%	-6.73%	-9.41%	-7.07%	-6.98%
Return On Investment Capital (ROIC_SIMPLE)	2.85%	6.42%	-1.82%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	24.50%	24.40%	27.51%	27.79%	27.75%	29.37%	29.59%	29.37%	30.71%	32.37%	33.61%
SG&A Expenses to Revenue	9.71%	9.67%	9.64%	9.46%	9.59%	10.14%	12.31%	10.40%	12.58%	12.85%	13.46%
R&D to Revenue	31.09%	33.94%	36.15%	36.56%	39.86%	42.73%	42.94%	42.49%	43.22%	40.63%	40.22%
Operating Expenses to Revenue	70.59%	73.08%	76.06%	74.47%	78.01%	84.48%	86.83%	84.78%	91.71%	89.22%	93.77%
Earnings before Interest and Taxes (EBIT)	638	356	-260	16	-275	-482	-424	-315	-386	-274	-246
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,102	702	237	502	185	-61	-94	-78	-207	-127	-143
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.72	9.47	8.35	13.91	16.66	17.08	20.39	15.93	13.08	10.76	13.20
Price to Tangible Book Value (P/TBV)	13.42	15.30	19.12	48.06	45.15	118.32	150.09	18.16	15.62	11.42	13.62
Price to Revenue (P/Rev)	8.25	10.55	7.50	12.31	12.65	11.71	14.15	11.75	10.61	10.57	18.86
Price to Earnings (P/E)	132.52	55.43	0.00	2,181.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.75%	1.80%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	16.16	22.07	17.82	22.50	34.39	23.16	28.43	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	7.66	9.88	7.00	11.96	12.24	11.52	13.95	10.92	9.68	9.30	17.12
Enterprise Value to EBITDA (EV/EBITDA)	58.69	102.16	183.47	122.41	285.98	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	101.37	201.46	0.00	3,840.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	189.03	101.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	26.28	33.37	26.24	37.22	41.68	48.33	64.88	50.24	43.46	41.61	132.22
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	321.34	0.00	568.15	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.33	0.37	0.53	0.41	0.55	0.51	0.62	0.94	0.42	0.45	0.43
Long-Term Debt to Equity	0.33	0.37	0.53	0.14	0.21	0.41	0.50	0.73	0.42	0.45	0.43
Financial Leverage	-0.58	-0.58	-0.49	-0.45	-0.42	-0.28	-0.66	-1.13	-1.21	-1.25	-1.20
Leverage Ratio	2.01	2.19	2.37	2.46	2.70	2.78	2.96	2.88	2.49	2.25	1.96
Compound Leverage Factor	2.01	2.19	2.37	2.46	2.70	2.78	2.96	2.88	2.49	2.25	1.96
Debt to Total Capital	24.83%	26.94%	34.76%	28.86%	35.38%	33.67%	38.09%	48.55%	29.51%	30.88%	30.11%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	19.18%	21.75%	6.52%	7.35%	11.12%	0.00%	0.00%	0.20%
Long-Term Debt to Total Capital	24.83%	26.94%	34.76%	9.68%	13.64%	27.15%	30.74%	37.43%	29.51%	30.88%	29.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	75.17%	73.06%	65.24%	71.33%	64.61%	66.33%	61.91%	51.44%	70.48%	69.11%	69.88%
Debt to EBITDA	2.71	4.25	12.56	3.66	9.71	-20.53	-12.76	-19.22	-2.58	-4.01	-3.39
Net Debt to EBITDA	-4.57	-6.88	-13.27	-3.59	-9.42	11.10	6.07	22.90	7.05	11.55	9.58
Long-Term Debt to EBITDA	2.71	4.25	12.56	1.23	3.74	-16.55	-10.30	-14.82	-2.58	-4.01	-3.36
Debt to NOPAT	8.72	4.20	-19.15	-8.75	-10.32	-3.59	-3.72	-7.03	-2.16	-2.90	-3.21
Net Debt to NOPAT	-14.71	-6.81	20.24	8.58	10.00	1.94	1.77	8.37	5.92	8.36	9.09
Long-Term Debt to NOPAT	8.72	4.20	-19.15	-2.94	-3.98	-2.90	-3.00	-5.42	-2.16	-2.90	-3.19
Altman Z-Score	5.50	6.21	3.92	6.51	6.02	5.67	6.50	4.68	4.98	4.76	7.53
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	-0.12%	-0.15%	0.00%	0.00%	0.01%	0.01%	0.02%	0.02%	0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.90	1.97	1.75	1.03	1.12	1.04	1.11	1.92	1.96	2.56	3.29
Quick Ratio	1.80	1.87	1.66	0.96	1.07	0.95	1.02	1.84	1.87	2.45	3.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-410	-99	135	-1,404	93	-771	-1,905	-202	-387	-96	-122
Operating Cash Flow to CapEx	914.87%	926.29%	455.22%	379.54%	488.81%	354.79%	158.11%	329.05%	153.91%	193.49%	98.41%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.48	0.52	0.53	0.56	0.59	0.54	0.52	0.53	0.46	0.35
Accounts Receivable Turnover	4.71	4.52	4.42	4.52	4.52	4.58	4.58	4.57	4.48	4.80	5.62
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.83	5.96	5.35	4.90	4.52	4.19	4.20	4.70	5.43	6.53	7.23
Accounts Payable Turnover	22.25	15.27	16.33	21.79	18.00	24.59	33.34	26.32	20.83	24.77	31.46
Days Sales Outstanding (DSO)	77.55	80.68	82.58	80.79	80.73	79.61	79.73	79.88	81.51	76.01	64.98
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	16.41	23.91	22.36	16.75	20.28	14.84	10.95	13.87	17.52	14.73	11.60
Cash Conversion Cycle (CCC)	61.14	56.77	60.22	64.04	60.45	64.77	68.78	66.01	63.99	61.28	53.38
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,001	3,249	2,440	2,731	1,537	1,804	1,385	-196	-186	-326	-247
Invested Capital Turnover	2.33	2.55	2.40	2.41	2.58	2.27	4.75	-11.22	-6.16	-4.04	-3.39
Increase / (Decrease) in Invested Capital	752	809	-291	1,194	-267	419	1,581	-10	140	-79	-29
Enterprise Value (EV)	64,675	71,718	43,483	61,448	52,867	41,783	39,363	23,400	15,239	10,762	13,486
Market Capitalization	69,708	76,551	46,628	63,253	54,607	42,465	39,937	25,177	16,701	12,224	14,859
Book Value per Share	$33.96	$30.73	$21.73	$18.19	$13.66	$10.81	$8.90	$7.52	$6.35	$5.86	$6.02
Tangible Book Value per Share	$19.53	$19.02	$9.49	$5.27	$5.04	$1.56	$1.21	$6.60	$5.32	$5.52	$5.83
Total Capital	12,018	11,062	8,561	6,375	5,073	3,749	3,163	3,072	1,811	1,644	1,611
Total Debt	2,984	2,980	2,976	1,840	1,795	1,262	1,205	1,491	534	507	485
Total Long-Term Debt	2,984	2,980	2,976	617	692	1,018	972	1,150	534	507	482
Net Debt	-5,033	-4,833	-3,145	-1,804	-1,741	-682	-574	-1,776	-1,462	-1,462	-1,373
Capital Expenditures (CapEx)	269	232	364	435	259	244	384	142	228	134	104
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,020	-2,929	-2,641	-2,276	-1,913	-1,575	-1,276	-1,028	-758	-530	-387
Debt-free Net Working Capital (DFNWC)	4,997	4,884	3,480	1,369	1,623	370	502	2,240	1,239	1,440	1,470
Net Working Capital (NWC)	4,997	4,884	3,480	146	519	125	270	1,898	1,239	1,440	1,467
Net Nonoperating Expense (NNE)	-184	-671	212	-239	108	129	94	109	138	100	97
Net Nonoperating Obligations (NNO)	-5,033	-4,833	-3,145	-1,804	-1,741	-682	-574	-1,776	-1,462	-1,462	-1,373
Total Depreciation and Amortization (D&A)	464	346	497	486	460	421	329	237	178	147	103
Debt-free, Cash-free Net Working Capital to Revenue	-35.76%	-40.35%	-42.49%	-44.28%	-44.31%	-43.42%	-45.21%	-47.98%	-48.12%	-45.81%	-49.17%
Debt-free Net Working Capital to Revenue	59.16%	67.28%	55.98%	26.63%	37.58%	10.19%	17.80%	104.51%	78.71%	124.46%	186.62%
Net Working Capital to Revenue	59.16%	67.28%	55.98%	2.85%	12.03%	3.45%	9.56%	88.57%	78.71%	124.46%	186.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.98	$5.28	($1.44)	$0.12	($1.19)	($2.12)	($1.93)	($1.55)	($2.06)	($1.53)	($1.35)
Adjusted Weighted Average Basic Shares Outstanding	265.26M	261.34M	254.82M	247.25M	243M	232M	222M	212M	203M	195M	189M
Adjusted Diluted Earnings per Share	$1.95	$5.21	($1.44)	$0.12	($1.19)	($2.12)	($1.93)	($1.55)	($2.06)	($1.53)	($1.35)
Adjusted Weighted Average Diluted Shares Outstanding	269.21M	265.29M	254.82M	254.03M	243M	232M	222M	212M	203M	195M	189M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($1.19)	($2.12)	($1.93)	($1.55)	($2.06)	($1.53)	($1.35)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	266M	264M	259M	251M	237.02M	227.19M	216.79M	207.77M	198.21M	190.02M	183.70M
Normalized Net Operating Profit after Tax (NOPAT)	411	128	-127	-81	-174	-352	-324	-212	-247	-175	-151
Normalized NOPAT Margin	4.87%	1.76%	-2.05%	-1.58%	-4.03%	-9.69%	-11.49%	-9.90%	-15.70%	-15.12%	-19.16%
Pre Tax Income Margin	7.55%	4.90%	-4.18%	0.31%	-6.37%	-13.30%	-15.02%	-14.69%	-24.49%	-23.69%	-31.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	133.08%	30.63%	-20.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Workday's official financial filings.

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.04%	15.76%	16.68%	18.17%	16.74%	16.69%	16.36%	17.38%	19.62%	20.48%	21.85%
EBITDA Growth	10.43%	62.26%	66.67%	143.48%	578.11%	114.73%	146.75%	153.67%	-26.55%	-41.27%	-69.19%
EBIT Growth	-13.04%	75.97%	104.88%	1,657.14%	276.99%	682.18%	222.63%	107.53%	7.18%	-148.70%	-165.64%
NOPAT Growth	-91.36%	80.39%	151.46%	0.00%	1,194.61%	522.08%	245.39%	100.00%	11.69%	-180.65%	-1,951.90%
Net Income Growth	-92.09%	69.30%	67.09%	0.00%	1,043.25%	252.57%	223.13%	100.00%	-71.06%	-272.12%	-160.68%
EPS Growth	-92.41%	67.44%	63.33%	0.00%	1,014.29%	248.28%	220.00%	100.00%	-81.48%	-270.59%	-160.98%
Operating Cash Flow Growth	11.65%	-9.78%	34.04%	34.30%	43.46%	10.11%	272.51%	-37.00%	12.81%	6.24%	-42.38%
Free Cash Flow Firm Growth	-437.77%	-744.61%	-420.09%	-2,415.60%	-156.40%	161.30%	170.30%	113.48%	118.09%	28.80%	-4.00%
Invested Capital Growth	23.15%	63.38%	52.35%	52.99%	33.16%	-5.82%	-12.26%	-2.15%	-10.65%	15.26%	22.40%
Revenue Q/Q Growth	2.36%	3.60%	4.77%	3.51%	3.00%	4.42%	6.12%	2.28%	2.96%	4.12%	7.05%
EBITDA Q/Q Growth	-26.16%	22.86%	25.00%	-2.28%	8.49%	26.19%	82.61%	171.24%	-65.65%	45.01%	87.74%
EBIT Q/Q Growth	-47.14%	35.12%	36.59%	-10.83%	6.98%	57.32%	1,071.43%	108.98%	-251.88%	66.86%	28.10%
NOPAT Q/Q Growth	-58.12%	60.85%	56.65%	-91.81%	774.51%	124.22%	0.00%	100.00%	-237.21%	22.76%	53.22%
Net Income Q/Q Growth	-51.30%	46.21%	23.36%	-91.00%	942.11%	44.30%	0.00%	100.00%	-68.56%	-16.46%	37.21%
EPS Q/Q Growth	-52.78%	46.94%	22.50%	-91.07%	941.86%	43.33%	0.00%	100.00%	-68.97%	-16.00%	39.02%
Operating Cash Flow Q/Q Growth	173.89%	-28.90%	53.49%	-62.64%	121.33%	5.63%	53.79%	-60.10%	69.88%	257.36%	-73.99%
Free Cash Flow Firm Q/Q Growth	56.29%	-24.74%	3.42%	-918.63%	-152.40%	-38.06%	598.66%	-75.13%	156.95%	28.97%	-33.99%
Invested Capital Q/Q Growth	-10.09%	12.54%	-0.20%	21.95%	19.28%	4.95%	0.21%	6.14%	-15.63%	-2.23%	11.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.62%	75.46%	75.49%	75.43%	76.01%	76.15%	74.93%	75.24%	72.77%	72.75%	72.45%
EBITDA Margin	11.49%	15.93%	13.43%	11.26%	11.97%	11.36%	9.40%	5.46%	2.06%	6.17%	4.43%
Operating Margin	3.39%	7.64%	5.32%	3.22%	4.11%	4.72%	2.01%	-1.19%	-5.39%	-1.65%	-2.22%
EBIT Margin	5.43%	10.51%	8.06%	6.18%	7.18%	6.91%	4.59%	0.42%	-4.74%	-1.39%	-4.35%
Profit (Net Income) Margin	4.25%	8.94%	6.33%	5.38%	61.81%	6.11%	4.42%	0.00%	-7.65%	-4.67%	-4.18%
Tax Burden Percent	78.33%	85.02%	78.57%	86.99%	860.87%	88.37%	96.34%	0.00%	161.54%	337.22%	95.95%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	21.67%	14.98%	21.43%	13.01%	-760.87%	11.63%	3.66%	100.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.19%	14.77%	10.04%	6.46%	90.30%	10.37%	4.69%	0.00%	-9.07%	-2.54%	-3.28%
ROIC Less NNEP Spread (ROIC-NNEP)	5.48%	13.46%	8.93%	5.10%	77.57%	9.24%	3.18%	0.00%	-6.49%	0.13%	-1.05%
Return on Net Nonoperating Assets (RNNOA)	-3.16%	-7.13%	-4.93%	-2.73%	-45.28%	-4.93%	-1.63%	0.00%	3.18%	-0.06%	0.42%
Return on Equity (ROE)	3.03%	7.64%	5.11%	3.73%	45.02%	5.44%	3.06%	0.00%	-5.90%	-2.59%	-2.86%
Cash Return on Invested Capital (CROIC)	-11.31%	-19.28%	-12.65%	-16.19%	-3.48%	6.25%	10.56%	-2.35%	5.23%	-20.24%	-24.92%
Operating Return on Assets (OROA)	2.66%	5.65%	4.23%	3.20%	3.48%	3.67%	2.28%	0.21%	-2.45%	-0.75%	-2.21%
Return on Assets (ROA)	2.09%	4.80%	3.32%	2.79%	29.97%	3.24%	2.20%	0.00%	-3.97%	-2.55%	-2.12%
Return on Common Equity (ROCE)	3.03%	7.64%	5.11%	3.73%	45.02%	5.44%	3.06%	0.00%	-5.90%	-2.59%	-2.86%
Return on Equity Simple (ROE_SIMPLE)	0.00%	18.78%	18.47%	18.23%	0.00%	1.01%	-1.94%	-4.46%	0.00%	-5.82%	-3.83%
Net Operating Profit after Tax (NOPAT)	59	140	87	56	680	78	35	0.00	-62	-18	-24
NOPAT Margin	2.66%	6.49%	4.18%	2.80%	35.38%	4.17%	1.94%	0.00%	-3.77%	-1.15%	-1.55%
Net Nonoperating Expense Percent (NNEP)	0.71%	1.31%	1.11%	1.36%	12.73%	1.13%	1.52%	0.00%	-2.58%	-2.67%	-2.23%
Return On Investment Capital (ROIC_SIMPLE)	0.49%	-	-	-	6.15%	-	-	-	-0.73%	-	-
Cost of Revenue to Revenue	24.38%	24.54%	24.51%	24.57%	23.99%	23.85%	25.07%	24.76%	27.23%	27.25%	27.55%
SG&A Expenses to Revenue	9.54%	9.17%	9.74%	10.45%	9.83%	9.43%	9.46%	9.98%	10.40%	9.61%	9.13%
R&D to Revenue	30.48%	29.95%	31.13%	32.96%	33.04%	33.17%	34.14%	35.63%	35.95%	35.38%	35.67%
Operating Expenses to Revenue	72.23%	67.82%	70.17%	72.21%	71.90%	71.44%	72.92%	76.43%	78.16%	74.39%	74.67%
Earnings before Interest and Taxes (EBIT)	120	227	168	123	138	129	82	7.00	-78	-22	-67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	254	344	280	224	230	212	168	92	34	99	68
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.72	7.19	7.21	7.91	9.47	8.37	9.86	8.11	8.35	7.37	7.68
Price to Tangible Book Value (P/TBV)	13.42	13.01	12.65	14.18	15.30	15.72	19.52	17.11	19.12	17.79	20.31
Price to Revenue (P/Rev)	8.25	7.60	7.65	8.54	10.55	7.94	9.21	7.46	7.50	6.71	6.94
Price to Earnings (P/E)	132.52	38.25	39.06	43.42	55.43	827.24	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.75%	2.61%	2.56%	2.30%	1.80%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	16.16	12.99	14.11	15.25	22.07	18.93	22.43	17.32	17.82	12.92	12.59
Enterprise Value to Revenue (EV/Rev)	7.66	7.09	7.10	7.99	9.88	7.38	8.67	6.94	7.00	6.29	6.56
Enterprise Value to EBITDA (EV/EBITDA)	58.69	53.61	58.98	72.43	102.16	101.93	148.25	153.24	183.47	149.93	116.82
Enterprise Value to EBIT (EV/EBIT)	101.37	88.10	99.99	127.98	201.46	368.25	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	189.03	55.86	59.08	71.77	101.03	7,065.47	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	26.28	24.65	23.36	26.92	33.37	27.92	32.23	30.02	26.24	23.68	23.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	293.72	198.55	0.00	321.34	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.33	0.35	0.36	0.37	0.37	0.45	0.47	0.50	0.53	0.55	0.80
Long-Term Debt to Equity	0.33	0.35	0.36	0.37	0.37	0.45	0.47	0.50	0.53	0.55	0.58
Financial Leverage	-0.58	-0.53	-0.55	-0.54	-0.58	-0.53	-0.51	-0.51	-0.49	-0.44	-0.40
Leverage Ratio	2.01	1.99	2.05	2.07	2.19	2.19	2.37	2.43	2.37	2.27	2.49
Compound Leverage Factor	2.01	1.99	2.05	2.07	2.19	2.19	2.37	2.43	2.37	2.27	2.49
Debt to Total Capital	24.83%	25.70%	26.33%	26.75%	26.94%	31.02%	32.18%	33.38%	34.76%	35.48%	44.57%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.42%
Long-Term Debt to Total Capital	24.83%	25.70%	26.33%	26.75%	26.94%	31.02%	32.18%	33.38%	34.76%	35.48%	32.15%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	75.17%	74.30%	73.67%	73.25%	73.06%	68.98%	67.82%	66.62%	65.24%	64.52%	55.43%
Debt to EBITDA	2.71	2.77	3.15	3.57	4.25	5.89	7.58	10.17	12.56	11.94	12.94
Net Debt to EBITDA	-4.57	-3.87	-4.64	-5.04	-6.88	-7.71	-9.37	-11.45	-13.27	-10.10	-6.81
Long-Term Debt to EBITDA	2.71	2.77	3.15	3.57	4.25	5.89	7.58	10.17	12.56	11.94	9.33
Debt to NOPAT	8.72	2.88	3.16	3.54	4.20	408.14	-42.94	-25.14	-19.15	-18.18	-32.10
Net Debt to NOPAT	-14.71	-4.03	-4.65	-4.99	-6.81	-534.52	53.05	28.31	20.24	15.38	16.89
Long-Term Debt to NOPAT	8.72	2.88	3.16	3.54	4.20	408.14	-42.94	-25.14	-19.15	-18.18	-23.15
Altman Z-Score	5.41	5.54	5.31	5.68	6.17	5.19	5.54	4.46	3.97	3.88	3.28
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.12%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.90	2.05	2.04	2.00	1.97	2.13	2.00	1.95	1.75	1.87	1.61
Quick Ratio	1.80	1.94	1.92	1.88	1.87	2.01	1.90	1.83	1.66	1.75	1.52
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-693	-1,586	-1,271	-1,317	-129	246	397	57	229	-401	-565
Operating Cash Flow to CapEx	1,293.02%	863.83%	1,038.18%	459.26%	2,032.65%	762.71%	655.38%	469.49%	895.34%	694.47%	67.73%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.54	0.52	0.52	0.48	0.53	0.50	0.50	0.52	0.54	0.51
Accounts Receivable Turnover	4.71	6.21	6.14	6.81	4.52	6.17	5.65	6.92	4.42	6.24	5.74
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.83	6.61	6.34	6.16	5.96	5.76	5.47	5.38	5.35	5.08	4.79
Accounts Payable Turnover	22.25	25.97	21.68	19.48	15.27	22.73	23.46	14.62	16.33	26.69	27.69
Days Sales Outstanding (DSO)	77.55	58.82	59.49	53.61	80.68	59.20	64.57	52.71	82.58	58.49	63.62
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	16.41	14.05	16.83	18.74	23.91	16.06	15.56	24.97	22.36	13.67	13.18
Cash Conversion Cycle (CCC)	61.14	44.76	42.65	34.87	56.77	43.14	49.01	27.74	60.22	44.81	50.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,001	4,450	3,954	3,962	3,249	2,724	2,595	2,590	2,440	2,892	2,958
Invested Capital Turnover	2.33	2.27	2.40	2.31	2.55	2.49	2.42	2.47	2.40	2.20	2.11
Increase / (Decrease) in Invested Capital	752	1,726	1,359	1,372	809	-168	-363	-57	-291	383	541
Enterprise Value (EV)	64,675	57,796	55,796	60,408	71,718	51,567	58,212	44,858	43,483	37,373	37,225
Market Capitalization	69,708	61,970	60,187	64,609	76,551	55,468	61,891	48,210	46,628	39,890	39,395
Book Value per Share	$33.96	$32.54	$31.49	$30.92	$30.73	$25.29	$24.04	$22.94	$21.73	$21.13	$20.19
Tangible Book Value per Share	$19.53	$17.97	$17.95	$17.25	$19.02	$13.47	$12.15	$10.88	$9.49	$8.76	$7.64
Total Capital	12,018	11,607	11,327	11,144	11,062	9,604	9,252	8,919	8,561	8,384	9,251
Total Debt	2,984	2,983	2,982	2,981	2,980	2,979	2,978	2,977	2,976	2,975	4,123
Total Long-Term Debt	2,984	2,983	2,982	2,981	2,980	2,979	2,978	2,977	2,976	2,975	2,974
Net Debt	-5,033	-4,174	-4,391	-4,201	-4,833	-3,901	-3,679	-3,352	-3,145	-2,517	-2,170
Capital Expenditures (CapEx)	86	47	55	81	49	59	65	59	78	59	169
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,020	-2,501	-2,686	-2,736	-2,929	-2,335	-2,457	-2,500	-2,641	-2,245	-2,197
Debt-free Net Working Capital (DFNWC)	4,997	4,656	4,687	4,446	4,884	4,545	4,200	3,829	3,480	3,247	4,096
Net Working Capital (NWC)	4,997	4,656	4,687	4,446	4,884	4,545	4,200	3,829	3,480	3,247	2,947
Net Nonoperating Expense (NNE)	-35	-53	-45	-51	-508	-36	-44	0.00	64	56	40
Net Nonoperating Obligations (NNO)	-5,033	-4,174	-4,391	-4,201	-4,833	-3,901	-3,679	-3,352	-3,145	-2,517	-2,170
Total Depreciation and Amortization (D&A)	134	117	112	101	92	83	86	85	112	121	135
Debt-free, Cash-free Net Working Capital to Revenue	-35.76%	-30.66%	-34.16%	-36.17%	-40.35%	-33.44%	-36.59%	-38.67%	-42.49%	-37.76%	-38.72%
Debt-free Net Working Capital to Revenue	59.16%	57.08%	59.61%	58.77%	67.28%	65.08%	62.53%	59.22%	55.98%	54.61%	72.18%
Net Working Capital to Revenue	59.16%	57.08%	59.61%	58.77%	67.28%	65.08%	62.53%	59.22%	55.98%	54.61%	51.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.35	$0.73	$0.50	$0.40	$4.55	$0.43	$0.30	$0.00	($0.49)	($0.29)	($0.25)
Adjusted Weighted Average Basic Shares Outstanding	265.26M	265.41M	265.32M	264.44M	261.34M	262.15M	261.19M	258.82M	254.82M	255.75M	254.36M
Adjusted Diluted Earnings per Share	$0.34	$0.72	$0.49	$0.40	$4.48	$0.43	$0.30	$0.00	($0.49)	($0.29)	($0.25)
Adjusted Weighted Average Diluted Shares Outstanding	269.21M	268.55M	267.95M	270.30M	265.29M	266.38M	264.44M	261.37M	254.82M	255.75M	254.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	266M	266M	265M	265M	264M	263M	262M	261M	259M	257M	256M
Normalized Net Operating Profit after Tax (NOPAT)	59	140	87	56	55	78	35	-14	-62	-18	-24
Normalized NOPAT Margin	2.66%	6.49%	4.18%	2.80%	2.88%	4.17%	1.94%	-0.83%	-3.77%	-1.15%	-1.55%
Pre Tax Income Margin	5.43%	10.51%	8.06%	6.18%	7.18%	6.91%	4.59%	0.42%	-4.74%	-1.39%	-4.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	133.08%	45.49%	46.98%	37.03%	30.63%	533.91%	-175.89%	0.00%	-20.44%	0.00%	0.00%

Frequently Asked Questions About Workday's Financials

When does Workday's fiscal year end?

According to the most recent income statement we have on file, Workday's financial year ends in January. Their financial year 2025 ended on January 31, 2025.

How has Workday's net income changed over the last 10 years?

Workday's net income appears to be on a downward trend, with a most recent value of $526 million in 2025, falling from -$247.98 million in 2015. The previous period was $1.38 billion in 2024. See Workday's forecast for analyst expectations on what’s next for the company.

What is Workday's operating income?

Workday's total operating income in 2025 was $415 million, based on the following breakdown:

Total Gross Profit: $6.38 billion
Total Operating Expenses: $5.96 billion

How has Workday revenue changed over the last 10 years?

Over the last 10 years, Workday's total revenue changed from $787.86 million in 2015 to $8.45 billion in 2025, a change of 972.0%.

How much debt does Workday have?

Workday's total liabilities were at $8.94 billion at the end of 2025, a 6.8% increase from 2024, and a 630.6% increase since 2015.

How much cash does Workday have?

In the past 10 years, Workday's cash and equivalents has ranged from $298.19 million in 2015 to $2.01 billion in 2024, and is currently $1.54 billion as of their latest financial filing in 2025.

How has Workday's book value per share changed over the last 10 years?

Over the last 10 years, Workday's book value per share changed from 6.02 in 2015 to 33.96 in 2025, a change of 464.1%.

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This page (NASDAQ:WDAY) was last updated on 5/29/2025 by MarketBeat.com Staff

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Workday (WDAY) Financials

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