Workday, Inc. (WDAY)

NASDAQ: WDAY · USD

$204

-1.13 (-0.6%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-21

Our latest published analysis: WDAY rated Strong Buy

Workday, Inc.'s published Strong Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$280 / share

Potential value

$359 / share

Upside to FV

+37.9%

from $204

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$48.9B
Revenue (ttm)	10.2B
Net income (ttm)	1.3B
EPS (ttm)	$4.86
Shares out	241M
P/E (trailing)	42.1x
P/E (forward)	17.7x
Volume	1,467,787
Beta	1.07

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 10.2B
Net income (ttm): 1.3B
EPS (ttm): $4.86
P/E (trailing): 42.1x
P/E (forward): 17.7x
Market cap: $48.9B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-01-31	2023-01-31	2024-01-31	2025-01-31	2026-01-31	Trend
Revenue	$5.14B	$6.22B	$7.26B	$8.45B	$9.55B	+16.8%
Gross profit	$3.71B	$4.51B	$5.49B	$6.38B	$7.23B	+18.1%
Operating income	$-116.0M	$-222.0M	$183.0M	$415.0M	$721.0M	—
Net income	$29.0M	$-367.0M	$1.38B	$526.0M	$693.0M	+121.1%
EPS (diluted)	$0.12	$-1.44	$5.21	$1.95	$2.59	+115.5%
EBITDA	$377.0M	$206.0M	$752.0M	$1.08B	$1.36B	+37.7%
R&D	$1.88B	$2.25B	$2.46B	$2.63B	$2.68B	+9.3%
SG&A	$486.0M	$599.0M	$702.0M	$820.0M	$1.34B	+28.8%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	ホールド
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	売り
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	売り

Base and Bull scenarios

Bull20%

Price target

$358.84

+76.8% from spot

The bull scenario envisions an accelerated cloud migration cycle paired with rapid enterprise adoption of agentic artificial intelligence governance. Workday deepens wallet share across Fortune five hundred accounts as the Financial Management suite displaces legacy ERP systems and international expansion accelerates in EMEA and APAC. Operating margins expand beyond baseline projections, driving rapid earnings growth. From $202.96, this scenario establishes a target of $358.84 with an estimated probability of 20.0% and an implied return of 76.8%, matching Potential value of $358.84. Disconfirmation would appear if enterprise software spending contracts or competitive bundling halts cross-sell momentum, visible within three to four quarters.

Enterprise adoption of agentic AI governance drives accelerated subscription additions across core HR and finance platforms.
Operating margins expand faster than expected toward top-tier peer enterprise software levels.
International market penetration broadens, elevating the non-US revenue contribution.

Base60%

Price target

$279.78

+37.8% from spot

The base scenario reflects durable enterprise software compounding. Under this path, subscription revenue grows at a steady low double-digit pace, while provider-adjusted operating margins expand steadily toward mature enterprise software levels as sales and administrative leverage take hold. From the reference price of $202.96, this outcome yields a target of $279.78 with an estimated probability of 60.0% and an implied return of 37.8%, aligning closely with Fair value of $279.78. This scenario would be disconfirmed if subscription revenue decelerates into single digits or if workforce restructuring fails to yield expected operating efficiencies, which investors would detect within four to six quarters.

Subscription revenue maintains steady low double-digit expansion supported by enterprise gross renewal rates exceeding historical benchmarks.
Operating margins expand progressively each fiscal year through disciplined administrative overhead control and cloud infrastructure efficiency.
Diluted share count remains stable as free cash flow funds programmatic share repurchases to offset equity grants.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($279.78). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	3.0%	3.5%	4.0%	4.5%
8.9%	$293	$309	$329	$353	$382
9.4%	$273	$286	$302	$322	$345
9.9%	$255	$266	$280	$295	$314
10.4%	$239	$249	$260	$274	$289
10.9%	$226	$234	$244	$255	$267

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E17.7

P25 n/aP50 n/aP75 n/a

Trailing P/E41.5

P25 n/aP50 n/aP75 n/a

ROE16

P25 n/aP50 n/aP75 n/a

ROIC18.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All WDAY indicators

Market & fundamental data

Available fields

262

Groups with data

Currency

USD

Showing 262 of 262 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001327811
Company name	Workday, Inc.
Country	United States
Country code	US
CUSIP number	98138H101
Earnings date	2026-11-24
Earnings time	amc
Employees	20,896
Employees change	1,379
Employees growth	7.07%
Enterprise value	$49.6B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-07-31
First seen	2026-05-09
Fiscal year end	January
Founded	2005
In index	SP500, NASDAQ100
Industry	Software - Application
IPO date	2012-10-12
Is primary listing	Yes
Is SPAC	No
ISIN number	US98138H1014
Last 10-K release date	2026-03-06
Last earnings date	2026-08-27
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$49.2B
Market cap category	Large-Cap
Next earnings date	2026-11-24
Options	Yes
Price	$204.32
Price currency	USD
Sector	Technology
SIC code	7374
Stock price date	2026-10-28
Symbol	WDAY
Tags	artificial-intelligence
U.S. state	California
Website	https://www.workday.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	20.03x
Average P/E ratio (3Y)	134.23x
Average P/E ratio (5Y)	436.99x
Earnings yield	2.38%
EV/Earnings	39.31x
EV/EBIT	40.27x
EV/EBITDA	31x
EV/FCF	17.29x
EV/Sales	4.84x
FCF / EV yield	5.78%
FCF yield	5.83%
Forward EV/Sales	4.4x
Forward P/E	16.93x
Forward P/S	4.36x
Graham number	54.11243
Graham upside	-73.28%
Industry forward P/E	19.55x
Industry P/E	72.09x
P/(FCF - SBC) ratio	40.74x
P/(OCF - SBC) ratio	34.01x
P/B ratio	7.66x
P/E ratio	42.08x
P/FCF ratio	17.16x
P/OCF ratio	15.84x
P/S ratio	4.81x
PEG ratio	0.9x
Price / tangible book value	80.93x
Price/EBITDA ratio	30.77x
Sector forward P/E	18.86x
Sector P/E	32.77x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	12.02%
EBITDA margin	15.62%
Effective tax rate	2.57%
FCF margin	28.01%
Gross margin	75.8%
Operating margin	12.02%
Pretax margin	12.64%
Profit margin	12.32%
Profit per employee	$59,868
Profitable quarters	13
Profitable years	3
Revenue per employee	$485,978
ROA	4.51%
ROA (5Y)	0.89%
ROCE	13.15%
ROE	16.01%
ROE (5Y)	5.62%
ROIC	18.35%
ROIC (5Y)	3.69%
SBC / revenue	16.21%
Tax / revenue	0.32%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	125.23%
EPS growth (Q)	205.95%
EPS growth (QoQ)	195.4%
EPS growth quarters	5
EPS growth years	1
FCF growth	18.8%
FCF growth (Q)	-21.77%
FCF growth (QoQ)	-25.32%
FCF growth 3Y	22.44%
FCF growth 5Y	18.56%
Gross profit growth	13.68%
Gross profit growth (Q)	13.08%
Gross profit growth 3Y	15.76%
Gross profit growth 5Y	17.85%
Net income growth	114.58%
Net income growth (Q)	177.19%
Net income growth (QoQ)	184.68%
Net income growth quarters	5
Net income growth years	1
OCF growth	18.91%
OCF growth (Q)	-15.75%
OCF growth (QoQ)	-25.43%
OCF growth 10Y	25.39%
OCF growth 3Y	19.49%
OCF growth 5Y	15.51%
Operating income growth	58.57%
Operating income growth (Q)	25.7%
Revenue growth	13.35%
Revenue growth (Q)	12.82%
Revenue growth (QoQ)	4.21%
Revenue growth 10Y	22.36%
Revenue growth 3Y	14.77%
Revenue growth 5Y	16.79%
Revenue growth quarters	56
Revenue growth years	16

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-237M
Depreciation and amortization	$365M
EBIT	$1.2B
EBITDA	$1.6B
EPS	$4.86
FCF per share	$11.80
Financing cash flow	$-5.6B
Free cash flow	$2.8B
Free cash flow minus SBC	$1.2B
Gross profit	$7.7B
Income taxes	$33M
Investing cash flow	$1.9B
Net cash flow	$-601M
Net income	$1.3B
Operating cash flow minus SBC	$1.4B
Operating income	$1.2B
Revenue	$10.2B
Stock-based compensation	$1.6B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	3.86
Book value per share	$26.80
Debt / EBITDA	2.07
Debt / equity	0.58
Debt / FCF	1.33
Goodwill	$5.2B
Interest coverage	11.1
Long-term assets	$9.9B
Long-term liabilities	$2.8B
Net cash (debt)	$-369M
Net cash / market cap	-0.76%
Net debt / EBITDA	0.23
Net debt / equity	0.06
Net debt / FCF	0.13
Piotroski F-Score	7
Property, plant and equipment	$1.8B
Shareholders' equity	$6.5B
Tangible book value	$603M
Tangible book value per share	$2.50
Total assets	$15.9B
Total cash	$3.4B
Total debt	$3.8B
Total liabilities	$9.4B
WACC	9.63%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.6
Current assets	$6B
Current liabilities	$6.6B
Current ratio	0.91
Net working capital	$-2.9B
Quick ratio	0.81
Working capital	$-604M
Working capital turnover	4.18

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	4.32%
Dividend yield	0%
Shareholder yield	4.32%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	137.14%
10Y return CAGR	9.02%
10Y total return	137.14%
150-day SMA	$156.08
1D price change	-0.55%
1M price change	7.35%
1M total return	7.35%
1W price change	-0.3%
1W total return	-0.3%
1Y price change	-14.88%
1Y return CAGR	-14.89%
1Y total return	-14.88%
20-day SMA	$194.85
200-day SMA	$155.61
3M price change	37.84%
3M total return	37.84%
3Y price change	-1.28%
3Y return CAGR	-0.43%
3Y total return	-1.28%
50-day SMA	$194.10
50-day SMA vs 200-day SMA	50over200
52-week high	$241.83
52-week high date	2025-10-28
52-week low	$110.36
52-week low date	2026-04-09
5Y price change	-28.17%
5Y return CAGR	-6.4%
5Y total return	-28.17%
6M price change	72.6%
6M total return	72.6%
All-time high	$311.28
All-time high date	2024-02-26
All-time low	$45.05
All-time low date	2012-10-12
Average true range (ATR)	$6.88
Average volume	2.1M
Beta (1Y)	0.86
Beta (2Y)	1
Beta (5Y)	1.07
Change from 52-week high	-15.51%
Change from 52-week low	85.14%
Change from all-time high	-34.67%
Change from all-time low	351.43%
Change from open	0.59%
Day's gap	-1.13%
Dollar volume	$299.9M
High price	$206.90
Low price	$201.74
Monthly RSI	51.35
Open price	$203.13
Position in 52-week range	50%
Premarket change	-2.17%
Premarket close	$205.46
Premarket price	$201.01
Premarket volume	23.2K
Previous close	$205.46
Price vs 150-day SMA	30.3%
Price vs 20-day SMA	4.37%
Price vs 200-day SMA	30.69%
Price vs 50-day SMA	4.78%
Relative volume	0.69
RSI	58.1
Sharpe ratio	-0.11
Sharpe ratio (3Y)	0.09
Sharpe ratio (5Y)	-0.04
Sortino ratio	-0.05
Sortino ratio (3Y)	0.27
Sortino ratio (5Y)	0.09
Volume	1.5M
Weekly RSI	61.14
YTD price change	-5.31%
YTD total return	-5.31%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	194.3M
Float percentage	80.62%
Shares change (QoQ)	-3.15%
Shares change (YoY)	-4.32%
Shares held by insiders	18.71%
Shares held by institutions	90.83%
Shares outstanding	241M
Short % of float	6.5%
Short % of shares	5.24%
Short ratio	4.7 days

Deeper analysis on WDAY

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this WDAY report

What is the latest published WDAY stock rating?

Workday, Inc. is shown with Strong Buy in the latest published report, analyzed 2026-10-21. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full WDAY analysis?

The full latest published report, analyzed 2026-10-21, lives at /stocks/WDAY/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for WDAY?

The latest published report analyzed 2026-10-21 gives WDAY a fair value of USD 280 and a potential value of USD 359. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the WDAY page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-21). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

Strong BuyWDAY · Fair value $280+37.9%

Read full analysis →

Workday, Inc. (WDAY)

Our latest published analysis: WDAY rated Strong Buy

Price

Financial snapshot

Fair-value bridge

Latest news · WDAY

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All WDAY indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on WDAY

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	8.5
Management	8.5
Balance Sheet	4.0
Profitability	6.5
Revenue Growth	6.0
Risk Assessment	5.0
Competitive Moat	9.0
Earnings Quality	9.0
Capital Efficiency	3.5