Skip to content
AnalystLens

Workday, Inc.WDAY

Sector
Technology
Industry
Services-Computer Processing & Data Preparation
Exchange
Nasdaq

Stock Price $WDAY

Latest filings

You are here#54 of 67 in Technology by market cap

Filing record · 2016–202610-K1110-Q328-K112

WDAY filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 112 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’18Aug ’18
  2. Leadership change8-K · Feb ’21Feb ’21
  3. Leadership change8-K · Mar ’23Mar ’23
  4. FY2025 annual report10-K · Mar ’25Mar ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  16. $9.55B
YoY changeLargest recent move+36.1%in FY17Latest +13.1%

1 older move runs past ±100% (largest +103.6%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2026Click a bar to open its SEC filing

View full history →
All WDAY Financial Metrics61 metrics

Income Statement17

Balance Sheet26

Cash Flow14

Per Share4

02—Overview

Workday, Inc. Financial Overview 2022–2026

Updated Jul 10, 2026

Workday generated $2.8 billiona in free cash flow during FY2026, funneling the capital directly into a $2.9 billion share repurchase program. This aggressive shareholder return signals a decisive fundamental pivot. The enterprise software provider has transitioned from prioritizing top-line expansion into a highly profitable scaling engine, leveraging a 98% gross revenue retention rate to fund both internal operations and strategic acquisitions.

The company's financial arc shows consistent, compounding execution. Total revenue more than doubled from $4.5 billion in FY2022 to $9.55 billionb in FY2026. Subscriptions now generate 92% of that top line. As revenue scaled, management enforced strict cost discipline through targeted workforce reductions to drive efficiencies. This operational leverage triggered a 74% year-over-year surge in GAAP operating income, which hit $721 million in FY2026, while Non-GAAP operating income climbed 29% to $2.82 billion. This internal cash generation provided the financial firepower to outright acquire artificial intelligence startups like Paradox for $1.0 billion.

Despite the rapid profitability expansion, the market has dramatically recalibrated the company's premium multiple. At the close of FY2025, the market valued the enterprise at a steep 134.4x earnings multiple on a closing price of $262.06c. One year later, at the close of FY2026, the stock price had retreated to $175.63. Coupled with rising net income, this price action compressed the valuation to a leaner 67.8x earnings, reflecting a structural shift in investor focus from pure sales growth to bottom-line execution.

Recent Developments (Q4 2026 and Q1 2027)

In Q4 2026, co-founder Aneel Bhusri reclaimed the CEO title following Carl Eschenbach's resignation. This leadership shift coincided with a 2% workforce reduction, triggering $135 milliond in quarterly restructuring charges.

Despite these cuts, operations accelerated in Q1 2027. Total revenue grew 13% year-over-year to $2.54 billione, supported by a $27.3 billion subscription backlog. Operating leverage materialized quickly, with GAAP operating margins expanding from 1.8% to 13.3%, driving quarterly net income to $222 million. Bull case: Rapid margin expansion and a $1.6 billion quarterly stock buyback highlight strong underlying cash generation. Bear case: The sudden executive transition and targeted headcount reductions suggest potential friction in sustaining organic growth rates. At 49.5x earnings as of the Q1 2027 reporting date, the stock remains richly valued despite recent multiple compression.

What to watch: execution against the subscription backlog; the trajectory of strategic platform investments like Workday Data Cloud.

03—Filings

Recent SEC Filings

  1. 8-KWorkday, Inc. 8-K Report, Corporate Update (Oct 13, 2026)Workday, Inc. (WDAY) disclosed in this Form 8-K that on October 12, 2026 it entered into a definitive agreement to acquire all outstanding capital stock of ConductorOne, Inc. (C1.ai), an agentic identity platform for people and AI agents. The deal is subject to customary closing conditions. The filing does not disclose the purchase price, consideration form, or expected financial impact, so investors should look to later disclosures for those terms. Strategically, the acquisition extends Workday's Agent System of Record, which already registers and manages AI agents, into governing what those agents and employees can access across Workday and third-party enterprise systems. Management says this will make Workday the "identity governance layer for people, money, and agents," tied to joiner-mover-leaver events that already run through Workday's HR platform. This is a move into identity and access management, a competitive and adjacent category, and it aligns with the growing need to govern autonomous AI agents. The transaction is expected to close in the fourth quarter of Workday's fiscal year 2027 (ending January 31, 2027). The filing includes standard forward-looking-statement risks, including the possibility the deal does not close on time or at all, integration risk, and unanticipated acquisition expenses. BofA Securities and Orrick are advising Workday, and Qatalyst and Ashurst Perkins Coie are advising C1.ai.
  2. 8-KWorkday, Inc. 8-K Report, Material Agreement (Oct 1, 2026)Workday, Inc. (WDAY) has entered into a new Credit Agreement, effective October 1, 2026, replacing its previous facility. This new agreement significantly increases Workday's borrowing capacity to $1.5 billion, up from $1 billion, providing enhanced financial flexibility. The new revolving credit facility has a maturity date of October 1, 2031, with options for Workday to extend it by one year on two separate occasions. This move is generally positive for investors, indicating the company's confidence in its financial health and its ability to manage increased debt capacity for potential growth initiatives or operational needs. Key terms of the new agreement include flexible interest rate options tied to either Workday's Consolidated Leverage Ratio or its senior unsecured debt rating, offering potential cost savings depending on financial performance and market conditions. The agreement also allows for penalty-free prepayment and permanent reduction of commitments, giving Workday considerable control over its debt management. Notably, as of the closing date, Workday had no outstanding revolving loans under this new facility, suggesting a strong current liquidity position.
  3. 8-KWorkday, Inc. 8-K Report, Financial Results (Sep 29, 2026)Workday, Inc. has filed an 8-K report primarily to update its financial guidance and disclose significant restructuring activities. The company is reiterating its previously provided financial guidance for the third quarter and full year of fiscal 2027, with an adjustment to its GAAP operating margin expectations. Due to restructuring charges, Workday now anticipates its GAAP operating margin to be notably lower than its non-GAAP operating margin for both the current quarter and the full fiscal year. The company also announced a reorganization impacting approximately 2.5% of its workforce, mainly within the Product and Technology teams, alongside reductions in leased office space. This strategic realignment is intended to better align team structures with growth priorities. While these actions will result in estimated charges between $65 million and $80 million, Workday intends to continue strategic hiring in key areas.
  4. 8-KWorkday, Inc. 8-K Report, Financial Results (Aug 27, 2026)Workday (WDAY) reported fiscal 2027 second-quarter results (quarter ended July 31, 2026) that were strong on the top line and profitability. Total revenues rose 12.8% year-over-year to $2.649 billion, and subscription revenues grew 13.9% to $2.471 billion. Non-GAAP operating margin expanded to 31.1% from 29.0%, and GAAP operating income more than doubled... rising to $313 million from $248 million. Management highlighted AI momentum, with AI contributing more than 25% of new ACV and more than 5,500 customers using at least one organic agent. Full-year fiscal 2027 subscription revenue guidance was set at $9.940 to $9.950 billion (about 13% growth), and non-GAAP operating margin guidance was raised to 31.0%. The third-quarter subscription revenue outlook is $2.515 billion (12% growth) with a 30.0% non-GAAP operating margin. GAAP diluted EPS of $2.57 is inflated by a one-time $1.52 per share tax benefit tied to an intra-entity transfer of intellectual property during an internal legal entity restructuring, which created a $374 million deferred tax asset. Excluding items, non-GAAP diluted EPS was $2.75 versus $2.21 a year earlier. Investors should separate this non-recurring benefit from the underlying earnings trend. Capital allocation is a major focus. Workday repurchased about 9.8 million Class A shares for $1.3 billion in the quarter, and the board authorized an additional open-ended $4.0 billion buyback. Treasury stock rose to $7.151 billion from $4.220 billion at fiscal year-end, while cash and marketable securities fell to $3.403 billion and total debt (current plus noncurrent) was about $2.99 billion. Operating cash flow was $520 million, down from $616 million, and free cash flow was $460 million, down from $588 million, so buybacks are being funded in part from the balance sheet.
  5. 8-KWorkday, Inc. 8-K Report, Shareholder Vote Results (Jun 22, 2026)Workday, Inc. (WDAY) filed an 8-K on June 22, 2026, detailing the results of its Annual Meeting of Stockholders held on June 16, 2026. The meeting saw high participation, with approximately 97.58% of eligible votes represented, ensuring a quorum. Key outcomes include the overwhelming approval of all director nominees, the ratification of Ernst & Young LLP as the independent auditor for the fiscal year ending January 31, 2027, and advisory approval of executive compensation. The company also secured stockholder support for amendments to its 2022 Equity Incentive Plan and its 2012 Employee Stock Purchase Plan, both aimed at increasing the number of shares reserved for issuance, which is generally positive for supporting future growth and employee incentives.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.