Value Investor
Start free

Workday

WDAY on Nasdaq. Workday sells cloud software to organizations for managing people, money, and agents. Market value $49.5bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to July 2026
5.7%fair

For every $100 of what the whole company costs, it produced $5.69 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to July 2026
48.2×full

You pay 48.2 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to January 2026
1.6%five-year median

Each dollar kept in the business earns 2 cents a year. Above 10 is good.

Quality score: 65 of 100. Price score: 45 of 100. Our list needs 70 on quality and 60 on price.

$186.55 a share, 69% above its 1-year low

Over the past year the price has ranged from $110.36 to $247.40.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

1.4
1.3
1.9
2.2
2.8
2.8
2022202320242025202612 monthsto Jul '26
Revenue
$5.1bn$6.2bn$7.3bn$8.4bn$9.6bn
Operating margin
-2.3%-3.6%2.5%4.9%7.5%
Debt to equity
0.410.530.370.330.38
Shares outstanding
0.25bn0.25bn0.27bn0.27bn0.27bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)5 of 7 checks we could run
  • Profit backed by cash (accruals)No
  • Debt0.38× equity
  • Revenue growth, five yearsStrong, 17.2% a year
  • Buying back its own sharesNo, 6% more shares since 2022

The quarter to July 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $2.6 billion last quarter, up 13% on a year ago.
  • Profit: $632 million, up 177% on a year ago.
  • It keeps 11 cents of each $1 of sales as operating profit, up from 6 cents a year earlier.
  • Spare cash over the past 12 months: $2.8 billion, up from $2.4 billion.
  • 9% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $2.3 billion more than cash, up from $1.7 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
October 2024$2.2bn
January 2025$2.2bn
April 2025$2.2bn
July 2025$2.3bn
October 2025$2.4bn
January 2026$2.5bn
April 2026$2.5bn
July 2026$2.6bn
Profit by quarter
Profit by quarter
Quarter toAmount
October 2024$193m
January 2025$94m
April 2025$68m
July 2025$228m
October 2025$252m
January 2026$145m
April 2026$222m
July 2026$632m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
1 December 2026
Last annual report (10-K)
6 March 2026
Next quarterly (estimated, 10-Q)
26 November 2026

Who owns it

13 long-term investors we follow own it, up from 10 last quarter. 911 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $18m, $18m of it under preset trading plans.

  • Garfield Mark S.
    Chief Accounting Officer
    Sold
    under a preset trading plan
    Date
    10 July 2026
    Shares
    918
    Price
    $142.19
    Value
    $130,530
  • Kazmaier Gerrit S
    President, Prod. and Tech.
    Sold
    under a preset trading plan
    Date
    7 July 2026
    Shares
    2,728
    Price
    $143.62
    Value
    $391,785
  • Rowe Zane
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    7 July 2026
    Shares
    6,000
    Price
    $143.70
    Value
    $862,203
  • Enslin Robert
    President, CCO
    Sold
    under a preset trading plan
    Date
    5 July 2026
    Shares
    5,374
    Price
    $134.90
    Value
    $724,972
  • Garfield Mark S.
    Chief Accounting Officer
    Sold
    under a preset trading plan
    Date
    10 April 2026
    Shares
    1,585
    Price
    $113.05
    Value
    $179,184
  • Kazmaier Gerrit S
    President, Prod. and Tech.
    Sold
    under a preset trading plan
    Date
    7 April 2026
    Shares
    9,356
    Price
    $128.39
    Value
    $1m
  • Rowe Zane
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    7 April 2026
    Shares
    6,000
    Price
    $128.22
    Value
    $769,320
  • Enslin Robert
    President, CCO
    Sold
    under a preset trading plan
    Date
    6 April 2026
    Shares
    5,373
    Price
    $129.41
    Value
    $695,345
  • Garfield Mark S.
    Chief Accounting Officer
    Sold
    under a preset trading plan
    Date
    8 January 2026
    Shares
    953
    Price
    $209.56
    Value
    $199,711
  • Kazmaier Gerrit S
    President, Prod. and Tech.
    Sold
    under a preset trading plan
    Date
    6 January 2026
    Shares
    3,759
    Price
    $208.73
    Value
    $784,633

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • It isn't cheap on profits: 48.2× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.