Workiva
WK on NYSE. Workiva sells software for financial reporting, sustainability, and compliance to accounting and finance teams. Market value $3.5bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $5.08 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 50 of 100. Price score: 51 of 100. Our list needs 70 on quality and 60 on price.
$70.16 a share, 62% above its 1-year low
Over the past year the price has ranged from $43.34 to $97.10.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $201 million in the past 12 months, $138 million in the year to December 2025.
| Revenue | |||||
| Revenue | $443m | $538m | $630m | $739m | $885m |
| Operating margin | |||||
| Operating margin | -6.6% | -16.5% | -15.0% | -10.4% | -4.8% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.05bn | 0.06bn | 0.06bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)4 of 7 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsStrong, 20.3% a year
- Buying back its own sharesNo, 10% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $255 million last quarter, up 19% on a year ago.
- Profit: $13 million, after a loss of $19 million a year ago.
- It keeps 3 cents of each $1 of sales as operating profit, after losing 10 cents a year earlier.
- Spare cash over the past 12 months: $201 million, up from $103 million.
- About the same number of shares as a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $186m |
| December 2024 | $200m |
| March 2025 | $206m |
| June 2025 | $215m |
| September 2025 | $224m |
| December 2025 | $239m |
| March 2026 | $247m |
| June 2026 | $255m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$17m |
| December 2024 | -$9m |
| March 2025 | -$21m |
| June 2025 | -$19m |
| September 2025 | $3m |
| December 2025 | $12m |
| March 2026 | $19m |
| June 2026 | $13m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 February 2026
- Next quarterly (estimated, 10-Q)
- 3 November 2026
Who owns it
4 long-term investors we follow own it, up from 3 last quarter. 306 funds in all.
- Irenic CapitalAdam Katz
- Value
- $27m
- Share of fund
- 1.9%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Hotchkis & WileyHotchkis & Wiley team | $125m | 0.4% | Added |
| Mairs & PowerAndy Adams | $40m | 0.4% | Added |
| Irenic CapitalAdam Katz | $27m | 1.9% | |
| Royce & AssociatesChuck Royce | $7m | <0.1% | New |
Largest holders overall
- BlackRock$267mAdded
- Vanguard Portfolio Management$196mAdded
- Jericho Capital Asset Management L.P.$169mAdded
- Hotchkis & Wiley$125mAdded
- Vanguard Capital Management$111m
- FMR$82mCut
- State Street$72mAdded
- Arrowstreet Capital, Limited Partnership$69mAdded
- Geode Capital Management$63mAdded
- Edmond de Rothschild Holding$62mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%.
- BlackRock, Inc.Passive investor8.1%Since 31 March 2025
- Vanguard Portfolio ManagementPassive investor7.5%Since 31 March 2026
- Jericho Capital Asset Management L.P.Passive investorat least 6.6%(filed with 1 related holder)Since 30 June 2026
- Vanguard Capital ManagementPassive investor5.1%Since 30 June 2026
- Eminence Capital, LPPassive investorat least 4.8%−2.3 pts(filed with 1 related holder)Since 31 March 2026
- FMR LLCPassive investorat least 3.4%−2.9 pts(filed with 1 related holder)Since 30 June 2025
- T. Rowe Price Investment Management, Inc.Passive investorSold down below 5%Since 30 June 2025
- Matthew M RizaiPassive investorSold down below 5%Since 31 December 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 8.1% | 31 March 2025 | |
Vanguard Portfolio Management Passive investor | 7.5% | 31 March 2026 | |
Jericho Capital Asset Management L.P. Passive investor | at least 6.6% (filed with 1 related holder) | 30 June 2026 | |
Vanguard Capital Management Passive investor | 5.1% | 30 June 2026 | |
Eminence Capital, LP Passive investor | at least 4.8%−2.3 pts (filed with 1 related holder) | 31 March 2026 | |
FMR LLC Passive investor | at least 3.4%−2.9 pts (filed with 1 related holder) | 30 June 2025 | |
T. Rowe Price Investment Management, Inc. Passive investor | Sold down below 5% | 30 June 2025 | |
Matthew M Rizai Passive investor | Sold down below 5% | 31 December 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
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. 3 sold $943,561.
- Ziegler BrandonEVP, CLO, CAO & Corp SecretarySold
- Date
- 20 August 2026
- Shares
- 6,571
- Price
- $75.97
- Value
- $499,199
- Herz Robert HDirectorSold
- Date
- 4 June 2026
- Shares
- 1,500
- Price
- $51.23
- Value
- $76,845
- Herz Robert HDirectorSold
- Date
- 29 May 2026
- Shares
- 1,000
- Price
- $49.69
- Value
- $49,690
- Herz Robert HDirectorSold
- Date
- 10 December 2025
- Shares
- 1,500
- Price
- $91.44
- Value
- $137,160
- MULCAHY DAVID S.DirectorSold
- Date
- 10 December 2025
- Shares
- 1,162
- Price
- $91.50
- Value
- $106,323
- MULCAHY DAVID S.DirectorSold
- Date
- 26 November 2025
- Shares
- 808
- Price
- $92.01
- Value
- $74,344
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 20 August 2026 | Ziegler Brandon EVP, CLO, CAO & Corp Secretary | Sold | 6,571 | $75.97 | $499,199 |
| 4 June 2026 | Herz Robert H Director | Sold | 1,500 | $51.23 | $76,845 |
| 29 May 2026 | Herz Robert H Director | Sold | 1,000 | $49.69 | $49,690 |
| 10 December 2025 | Herz Robert H Director | Sold | 1,500 | $91.44 | $137,160 |
| 10 December 2025 | MULCAHY DAVID S. Director | Sold | 1,162 | $91.50 | $106,323 |
| 26 November 2025 | MULCAHY DAVID S. Director | Sold | 808 | $92.01 | $74,344 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
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
Your first deep dive is free.
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.