Workday, Inc. (WDAY)
Information Technology · Application Software · US stock · S&P 500 component
$190.81
▼ -5.82 (2.96%)
Fair valueOvervalued
$140 −26.7% to fair value
$70fair band $98–$182$210
Day's range
$188.92 – $199.48
52-week range
$110.36 – $247.40
About Workday, Inc.
Workday provides cloud-based software for managing a company's people and money, covering human resources, payroll, financial management and planning. Customers, which include large enterprises and public sector bodies, pay recurring subscription fees to use the applications, and the company adds revenue from implementation and consulting work. It has also been adding artificial intelligence features to its products, and renewals by existing customers are central to its financial model.
Revenue over the last twelve months came to $10.2 billion, and sales grew by 15.4% a year on average across the past three years. Operating margin is 10.7% and return on invested capital is 14%. Net debt to EBITDA is 0.3 times. The company does not pay a dividend. The X-Ray Score is 52 out of 100. Taken together, these numbers give a factual snapshot of the business.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $110.36 – $247.40Volume 2,538,500Daily, split-adjusted
Vitals
Market cap$47.0B
52-week range$110.36 – $247.40
Volume (last day)2,538,500
P/E (TTM)39.6
EBIT / EV yield2.3%
Free-cash-flow yield6.1%
Dividend yieldNo dividend
Revenue (TTM)$10.2B
Net income (TTM)$1.3B
Operating margin10.7%
Return on capital14.3%
Debt incl. leases$3.8B
Cash & securities$3.4B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$140model spread $132 – $147
Overvalued
−26.7% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $191
Undervalued < $98Fair $98 – $182Overvalued > $182
10-year DCF (market-scaled)
$102
Peer multiples
$174
Earnings power floor (not blended)
$5
Fundamentals-adjusted multiple
$144
Growth the price implies
35.7%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Valuation
Fair
52/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield2.3%
Free-cash-flow yield6.1%
Fair value vs price0.7×
Growth
Fair
67/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)15.4%
Growth consistency100%
Profitability
Weak
44/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital14.3%
Operating margin10.7%
Financial health
Weak
50/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA0.3×
Interest cover9.8×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+12.6%
Apr '25
+12.6%
Jul '25
+12.6%
Oct '25
+14.5%
Jan '26
+13.5%
Apr '26
+12.8%
Jul '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.6B, diluted EPS $2.57.
Compare with peers
ADBE Adobe Inc.77 INTU Intuit Inc.72 FICO Fair Isaac Corp70 ADSK Autodesk, Inc.67Other Application Software companies by X-Ray Score.
Fundamentals checklist
● 6 Good · ● 3 Average · ● 5 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldGood
Risk models
Altman Z''Bad
Piotroski F-ScoreGood
Growth
Free-cash-flow growth (3y)Good
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 52/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $5.1B | $6.2B | $7.3B | $8.4B | $9.6B |
| Operating income | −$116M | −$222M | $183M | $415M | $721M |
| Net income | $29M | −$367M | $1.4B | $526M | $693M |
| Operating cash flow | $1.7B | $1.7B | $2.1B | $2.5B | $2.9B |
| Operating margin | -2.3% | -3.6% | 2.5% | 4.9% | 7.5% |
| Free cash flow | – | $1.3B | $1.9B | $2.2B | $2.8B |
| Diluted EPS | $0.12 | $-1.44 | $5.21 | $1.95 | $2.59 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
11 bullish · 3 neutral · 2 bearish
Weekly
Bullish
7 bullish · 1 neutral · 4 bearish
Monthly
Neutral
3 bullish · 1 neutral · 4 bearish
Moving averages (daily)
| SMA 10 | 188.5 | Bullish |
| EMA 10 | 189.6 | Bullish |
| SMA 20 | 188.9 | Bullish |
| EMA 20 | 189.3 | Bullish |
| SMA 50 | 191.5 | Bearish |
| EMA 50 | 184.1 | Bullish |
| SMA 100 | 165.6 | Bullish |
| EMA 100 | 173.7 | Bullish |
| SMA 200 | 155.8 | Bullish |
| EMA 200 | 172.9 | Bullish |
Oscillators (daily)
| RSI (14) | 52.12 | Neutral |
| MACD (12, 26) | 0.48 | Bullish |
| Momentum (12) | 0.18 | Bullish |
| Stochastic %K (14) | 46.54 | Neutral |
| Williams %R (14) | -53.46 | Neutral |
| CCI (20) | 111.0 | Bearish |
Pivot points (classic, last session)
S3 176.1 | S2 182.5 | S1 186.7 | Pivot 193.1 | R1 197.2 | R2 203.6 | R3 207.8 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
WDAY SEC filings
13 Oct 2026
8-KSEC EDGAR
Other events
1 Oct 2026
8-KSEC EDGAR
Entered a material agreement
29 Sep 2026
8-KSEC EDGAR
Results of operations; Exit or restructuring costs
27 Aug 2026
10-QSEC EDGAR
Quarterly report
27 Aug 2026
8-KSEC EDGAR
Results of operations; Other events
22 Jun 2026
8-KSEC EDGAR
Shareholder vote results
22 May 2026
10-QSEC EDGAR
Quarterly report
21 May 2026
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.