Workday, Inc. (WDAY) Financial Ratios
16 years of historical data (2011–2026) · Technology · Software - Application
EV/EBITDA
↓
23.07
↓-87% vs avg
5yr avg: 183.86
30Y Low33.3·High97.7
P/FCF
↓
11.63
↓-66% vs avg
5yr avg: 34.31
30Y Low16.7·High100.0
P/B Ratio
↓
4.14
↓-55% vs avg
5yr avg: 9.15
30Y Low5.9·High20.1
ROE
↑
8.2%
↓+47% vs avg
5yr avg: 5.6%
30Y Low-57%·High20%
Debt/EBITDA
↓
0.61
↓-93% vs avg
5yr avg: 8.87
30Y Low0.6·High49.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WDAY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Workday, Inc. trades at 47.5x earnings, 92% below its 5-year average of 591.7x, sitting at the 0th percentile of its historical range. Compared to the Technology sector median P/E of 27.2x, the stock trades at a premium of 75%. On a free-cash-flow basis, the stock trades at 11.6x P/FCF, 66% below the 5-year average of 34.3x.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $32.3B | $46.3B | $70.5B | $77.2B | $46.2B | $64.3B | $53.9B | $41.9B | $39.4B | $24.9B | $16.5B |
| Enterprise Value | $31.6B | $45.6B | $72.4B | $78.5B | $47.6B | $64.8B | $54.8B | $42.8B | $39.9B | $25.3B | $16.5B |
| P/E Ratio → | 47.53 | 68.07 | 134.39 | 55.87 | — | 2108.42 | — | — | — | — | — |
| P/S Ratio | 3.38 | 4.84 | 8.35 | 10.64 | 7.44 | 12.51 | 12.49 | 11.56 | 13.94 | 11.62 | 10.46 |
| P/B Ratio | 4.14 | 5.93 | 7.81 | 9.55 | 8.28 | 14.17 | 16.45 | 16.87 | 20.09 | 15.76 | 12.90 |
| P/FCF | 11.63 | 16.66 | 32.23 | 40.41 | 35.65 | 46.63 | 53.28 | 67.65 | 99.96 | 79.54 | 72.29 |
| P/OCF | 10.99 | 15.74 | 28.67 | 35.93 | 27.90 | 38.94 | 42.52 | 48.51 | 64.87 | 53.49 | 47.24 |
P/E links to full P/E history page with 30-year chart
WDAY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Workday, Inc.'s enterprise value stands at 23.1x EBITDA, 87% below its 5-year average of 183.9x. The Technology sector median is 17.3x, placing the stock at a 33% premium on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.77 | 8.57 | 10.81 | 7.66 | 12.62 | 12.69 | 11.80 | 14.15 | 11.79 | 10.46 |
| EV / EBITDA | 23.07 | 33.26 | 97.66 | 168.82 | 335.17 | 284.39 | 1215.83 | — | — | — | — |
| EV / EBIT | 30.89 | 45.19 | 96.23 | 167.02 | — | 1964.88 | — | — | — | — | — |
| EV / FCF | — | 16.42 | 33.06 | 41.08 | 36.70 | 47.04 | 54.13 | 69.00 | 101.40 | 80.68 | 72.26 |
WDAY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Workday, Inc. earns an operating margin of 10.7%. Operating margins have expanded from 2.5% to 10.7% over the past 3 years, signaling improving operational efficiency. ROE of 8.2% is modest. ROIC of 8.5% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.7% | 75.7% | 75.5% | 75.6% | 72.5% | 72.2% | 72.3% | 70.6% | 70.4% | 70.6% | 69.3% |
| Operating Margin | 10.7% | 10.7% | 4.9% | 2.5% | -3.6% | -2.3% | -5.8% | -13.8% | -16.4% | -14.1% | -22.4% |
| Net Profit Margin | 7.3% | 7.3% | 6.2% | 19.0% | -5.9% | 0.6% | -6.5% | -13.3% | -14.8% | -15.0% | -24.4% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 8.2% | 6.1% | 20.2% | -7.3% | 0.7% | -9.8% | -21.6% | -23.6% | -22.5% | -31.9% |
| ROA | 3.8% | 3.8% | 3.1% | 9.2% | -3.1% | 0.3% | -3.6% | -7.8% | -8.0% | -7.8% | -12.8% |
| ROIC | 8.5% | 8.5% | 3.1% | 1.7% | -2.8% | -1.9% | -5.0% | -12.9% | -15.6% | -14.2% | -20.3% |
| ROCE | 8.5% | 8.5% | 3.5% | 1.8% | -3.1% | -2.4% | -6.0% | -14.5% | -15.5% | -12.4% | -18.6% |
WDAY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Workday, Inc. carries a Debt/EBITDA ratio of 0.6x, which is very conservative (79% below the sector average of 2.9x). The company holds a net cash position — cash of $1.5B exceeds total debt of $834M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.11 | 0.11 | 0.37 | 0.41 | 0.58 | 0.46 | 0.68 | 0.63 | 0.62 | 0.94 | 0.42 |
| Debt / EBITDA | 0.61 | 0.61 | 4.54 | 7.09 | 22.88 | 9.22 | 49.67 | — | — | — | — |
| Net Debt / Equity | — | -0.09 | 0.20 | 0.16 | 0.24 | 0.13 | 0.26 | 0.34 | 0.29 | 0.23 | -0.00 |
| Net Debt / EBITDA | -0.49 | -0.49 | 2.45 | 2.76 | 9.60 | 2.49 | 18.95 | — | — | — | — |
| Debt / FCF | — | -0.24 | 0.83 | 0.67 | 1.05 | 0.41 | 0.84 | 1.35 | 1.44 | 1.14 | -0.02 |
| Interest Coverage | — | — | 3.64 | 1.61 | -2.18 | -6.82 | -3.61 | -8.56 | -7.69 | -6.81 | -11.73 |
Net cash position: cash ($1.5B) exceeds total debt ($834M)
WDAY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.32x means Workday, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.92x to 1.32x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.32 | 1.85 | 1.92 | 1.71 | 1.00 | 1.09 | 1.01 | 1.08 | 1.89 | 1.92 |
| Quick Ratio | 1.32 | 1.32 | 1.85 | 1.92 | 1.71 | 1.00 | 1.09 | 1.01 | 1.08 | 1.89 | 1.92 |
| Cash Ratio | 0.85 | 0.85 | 1.45 | 1.55 | 1.32 | 0.72 | 0.83 | 0.65 | 0.73 | 1.59 | 1.55 |
| Asset Turnover | — | 0.53 | 0.47 | 0.44 | 0.46 | 0.49 | 0.50 | 0.53 | 0.51 | 0.43 | 0.48 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 89.11 | 86.56 | 82.41 | 92.19 | 88.25 | 87.28 | 88.31 | 91.14 | 89.96 | 95.00 |
WDAY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Workday, Inc. returns 9.0% to shareholders annually primarily through share buybacks. The earnings yield of 2.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 1.5% | 0.7% | 1.8% | — | 0.0% | — | — | — | — | — |
| FCF Yield | 8.6% | 6.0% | 3.1% | 2.5% | 2.8% | 2.1% | 1.9% | 1.5% | 1.0% | 1.3% | 1.4% |
| Buyback Yield | 9.0% | 6.3% | 1.0% | 0.5% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 9.0% | 6.3% | 1.0% | 0.5% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $263M | $269M | $265M | $255M | $254M | $237M | $227M | $217M | $208M | $198M |
Peer Comparison
Compare WDAY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WDAYYou | $32B | 47.5 | 23.1 | 11.6 | 75.7% | 10.7% | 8.2% | 8.5% | 0.6 |
 SAP | $202B | 24.6 | 15.4 | 21.7 | 73.8% | 26.7% | 15.5% | 16.0% | 0.7 |
 ORCL | $558B | 44.7 | 27.3 | — | 70.5% | 30.8% | 82.4% | 12.8% | 4.4 |
 NOW | $92B | 53.3 | 35.8 | 20.2 | 77.5% | 13.7% | 15.5% | 12.4% | 1.3 |
 INTU | $108B | 28.4 | 19.6 | 17.8 | 80.8% | 26.1% | 20.3% | 16.5% | 1.2 |
 PAYC | $7B | 14.2 | 8.6 | 20.7 | 82.2% | 33.7% | 34.9% | 40.6% | 0.1 |
 PAYX | $33B | 20.0 | 15.0 | 18.6 | 72.4% | 39.6% | 41.8% | 30.9% | 2.1 |
 ADSK | $52B | 46.5 | 33.3 | 21.6 | 96.8% | 23.3% | 39.7% | 33.3% | 1.7 |
 CNXC | $2B | -1.2 | 4.7 | 2.9 | 35.0% | 6.2% | -37.7% | 5.6% | 3.7 |
 PCTY | $6B | 25.5 | 13.2 | 16.1 | 68.8% | 19.1% | 20.0% | 26.2% | 0.5 |
 ADP | $83B | 20.8 | 15.1 | 17.5 | 50.8% | 26.3% | 76.0% | 47.1% | 1.5 |
| Technology Median | — | 27.2 | 17.3 | 19.8 | 48.9% | -0.6% | 2.5% | 3.0% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonWDAY — Frequently Asked Questions
Quick answers to the most common questions about buying WDAY stock.
What is Workday, Inc.'s P/E ratio?
Workday, Inc.'s current P/E ratio is 47.5x. The historical average is 86.1x.
What is Workday, Inc.'s EV/EBITDA?
Workday, Inc.'s current EV/EBITDA is 23.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 65.5x.
What is Workday, Inc.'s ROE?
Workday, Inc.'s return on equity (ROE) is 8.2%. The historical average is -14.6%.
Is WDAY stock overvalued?
Based on historical data, Workday, Inc. is trading at a P/E of 47.5x. Compare with industry peers and growth rates for a complete picture.
What are Workday, Inc.'s profit margins?
Workday, Inc. has 75.7% gross margin and 10.7% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Workday, Inc. have?
Workday, Inc.'s Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.