The company maintains a stable debt profile with total debt held at $793.5M as of 2026Q1, though the persistent negative equity position of $12.6M warrants ongoing monitoring of capital structure health.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 1.04B | 1.16B | 1.05B | 1.01B | 600.09M | 657.09M | 633.09M | 571.23M | 177.23M | 115.29M | 98.04M | 97.88M | 116.54M | 35.88M | 37.35M |
| Cash & Short-Term Investments | 864.09M | 891.62M | 816.42M | 813.72M | 430.79M | 530.45M | 530.04M | 487.96M | 98.35M | 76.7M | 62.72M | 76.17M | 101.13M | 17.95M | 30.18M |
| Cash Only | 334.97M | 338.77M | 301.83M | 256.1M | 240.2M | 300.39M | 322.83M | 381.74M | 77.58M | 60.33M | 51.28M | 58.75M | 101.13M | 15.52M | 24.98M |
| Short-Term Investments | 529.12M | 552.85M | 514.59M | 557.62M | 190.59M | 230.06M | 207.21M | 106.21M | 20.76M | 16.36M | 11.44M | 17.42M | 0 | 2.44M | 5.2M |
| Accounts Receivable | 146.03M | 179.37M | 158.71M | 132.56M | 112.99M | 80.39M | 72.08M | 62.66M | 66.29M | 29.77M | 24.08M | 16.46M | 11.41M | 16.74M | 5.34M |
| Days Sales Outstanding | 59.23 | 74.01 | 78.42 | 76.8 | 76.67 | 66.19 | 74.83 | 76.78 | 99.02 | 52.28 | 49.2 | 41.37 | 36.97 | 71.76 | 36.8 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 33.23M | 91.4M | 73.11M | 62.65M | 56.31M | 31.15M | 21.92M | 14.11M | 8.18M | 2.38M | 1.86M | 1.37M | 852K | 301K | 546K |
| Total Non-Current Assets | 382.03M | 331.19M | 320.23M | 209.92M | 219.53M | 129.67M | 73.92M | 67.72M | 53.88M | 42.42M | 45.1M | 46.02M | 48.01M | 38.06M | 16.18M |
| Property, Plant & Equipment | 30.41M | 34.53M | 33.61M | 36.92M | 41.03M | 46.58M | 45.21M | 47.65M | 41.47M | 40.44M | 42.59M | 44.41M | 46.27M | 34.72M | 15.56M |
| Fixed Asset Turnover | 28.82x | 25.62x | 21.98x | 17.06x | 13.11x | 9.52x | 7.78x | 6.25x | 5.89x | 5.14x | 4.19x | 3.27x | 2.44x | 2.45x | 3.40x |
| Goodwill | 204.17M | 206.16M | 196.84M | 112.1M | 109.74M | 34.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 21.51M | 22.27M | 27.39M | 22.89M | 28.23M | 10.43M | 1.58M | 1.65M | 1.27M | 1.12M | 1.01M | 896K | 549K | 167K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.37M | 0 |
| Other Non-Current Assets | 125.94M | 68.22M | 62.38M | 38.01M | 40.53M | 38.1M | 27.13M | 18.42M | 11.15M | 861K | 1.5M | 711K | 1.2M | 3.18M | 614K |
| Total Assets | 1.43B | 1.49B | 1.37B | 1.22B | 819.62M | 786.76M | 707.01M | 638.95M | 231.11M | 157.72M | 143.14M | 143.9M | 164.55M | 73.94M | 53.52M |
| Asset Turnover | 0.65x | 0.59x | 0.54x | 0.52x | 0.66x | 0.56x | 0.50x | 0.47x | 1.06x | 1.32x | 1.25x | 1.01x | 0.68x | 1.15x | 0.99x |
| Asset Growth % | 36.01% | 9.14% | 12.27% | 48.71% | 4.18% | 11.28% | 10.65% | 176.47% | 46.54% | 10.18% | -0.52% | -12.55% | 122.53% | 38.16% | - |
| Total Current Liabilities | 686.05M | 741.65M | 592.42M | 484.5M | 406.94M | 646.5M | 281.79M | 232.1M | 191.58M | 129.34M | 99.89M | 84.08M | 66.73M | 43.33M | 26.4M |
| Accounts Payable | 10.66M | 8.93M | 7.75M | 5.2M | 6.17M | 4.11M | 2.84M | 7.06M | 5.46M | 3.06M | 849K | 5.14M | 3.01M | 3.99M | 2.4M |
| Days Payables Outstanding | 19.87 | 17.12 | 16.43 | 12.32 | 17.35 | 14.46 | 11.51 | 30.3 | 30.27 | 18.54 | 6 | 46.65 | 32.44 | 60.01 | 45.93 |
| Short-Term Debt | 76.63M | 77.39M | 0 | 0 | 0 | 298.66M | 0 | 0 | 0 | 0 | 20K | 18K | 84K | 2.3M | 185K |
| Deferred Revenue (Current) | 1.55B | 547.92M | 482.11M | 380.84M | 341.78M | 284.54M | 227.27M | 185.77M | 148.54M | 104.9M | 77.04M | 56.73M | 42.6M | 27.37M | 17.12M |
| Other Current Liabilities | 41.68M | 107.41M | 34.3M | 43.77M | 24.2M | 24.86M | 21.14M | 19.21M | 20.43M | 13.42M | 8.66M | 8.78M | 12.75M | 5.84M | 2.17M |
| Current Ratio | 1.52x | 1.57x | 1.77x | 2.08x | 1.47x | 1.02x | 2.25x | 2.46x | 0.93x | 0.89x | 0.98x | 1.16x | 1.75x | 0.83x | 1.41x |
| Quick Ratio | 1.52x | 1.57x | 1.77x | 2.08x | 1.47x | 1.02x | 2.25x | 2.46x | 0.93x | 0.89x | 0.98x | 1.16x | 1.75x | 0.83x | 1.41x |
| Cash Conversion Cycle | 39.36 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 751.94M | 757.36M | 817.73M | 823.75M | 406.7M | 67.28M | 360.94M | 352.65M | 49.27M | 45.31M | 46.38M | 34.09M | 42M | 37.31M | 13.1M |
| Long-Term Debt | 696.81M | 706.74M | 764.89M | 762.46M | 340.26M | 0 | 289.49M | 280.6M | 0 | 0 | 53K | 73K | 91K | 2.25M | 2.8M |
| Capital Lease Obligations | 86.77M | 23.7M | 22.93M | 24.94M | 26.68M | 31.5M | 33.87M | 37.98M | 17.21M | 18.43M | 19.74M | 21.08M | 22.75M | 12.51M | 9.19M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 102K | -10.38M | 227K | 178K | 1.52M | 1.6M | 1.68M | 1.5M | 6.89M | 4.17M | 4.1M | 3.34M | 2.07M | 16.99M | 67K |
| Total Liabilities | 1.44B | 1.5B | 1.41B | 1.31B | 813.64M | 713.78M | 642.73M | 584.75M | 240.85M | 174.65M | 146.27M | 118.18M | 108.73M | 80.73M | 39.5M |
| Total Debt | 793.47M | 807.82M | 793.28M | 793.18M | 373.17M | 337.74M | 329.61M | 323.27M | 18.43M | 19.59M | 21.1M | 22.98M | 24.86M | 25.43M | 12.17M |
| Net Debt | 458.5M | 469.05M | 491.44M | 537.08M | 132.97M | 37.35M | 6.78M | -58.47M | -59.15M | -40.74M | -30.18M | -35.77M | -76.27M | 9.91M | -12.81M |
| Debt / Equity | -62.90x | - | - | - | 62.37x | 4.63x | 5.13x | 5.96x | - | - | - | 0.89x | 0.45x | - | 0.87x |
| Debt / EBITDA | 138.55x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 80.06x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | 3.43x | -0.75x | -2.84x | -1.31x | -13.73x | -1.79x | -2.49x | -6.85x | -26.27x | -23.05x | -22.44x | -20.44x | -19.12x | -79.72x | -19.11x |
| Total Equity | -12.62M | -5.44M | -41.68M | -89.39M | 5.98M | 72.98M | 64.28M | 54.2M | -9.74M | -16.93M | -3.13M | 25.72M | 55.82M | -6.79M | 14.02M |
| Equity Growth % | 212.06% | 86.96% | 53.37% | -1594.07% | -91.8% | 13.54% | 18.59% | 656.49% | 42.48% | -441.89% | -112.15% | -53.92% | 922.44% | -148.41% | - |
| Book Value per Share | -0.22 | -0.10 | -0.75 | -1.65 | 0.11 | 1.43 | 1.33 | 1.17 | -0.22 | -0.41 | -0.08 | 0.65 | 1.74 | -0.21 | 0.44 |
| Total Shareholders' Equity | -12.62M | -5.44M | -41.68M | -89.39M | 5.98M | 72.98M | 64.28M | 54.2M | -9.74M | -16.93M | -3.13M | 25.72M | 55.82M | -6.79M | 14.02M |
| Common Stock | 57K | 57K | 56K | 54K | 53K | 51K | 49K | 47K | 44K | 42K | 41K | 41K | 39K | 160K | 0 |
| Retained Earnings | -714.86M | -733.85M | -707.68M | -652.64M | -525.12M | -452.43M | -414.7M | -366.3M | -307.03M | -265.34M | -220.91M | -176.93M | -133.53M | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 2.54M | 7.44M | -6.42M | 255K | -6.69M | -288K | 230K | 287K | 98K | 72K | 291K | 241K | 147K | -12.47M | -42K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent negative equity position
According to the latest quarterly filings, Workiva maintains a persistent negative equity position of $12.6M as of 2026Q1, which, despite recent improvements from the $89.4M deficit in 2023Q4, highlights a structural reliance on external financing to fund aggressive growth and ongoing product development initiatives.
The gradual narrowing of the equity deficit suggests that the company is slowly moving toward a self-sustaining capital structure as operating margins turn positive. However, investors should monitor whether this trajectory remains durable or if it is merely a temporary byproduct of recent accounting adjustments and stock-based compensation fluctuations.
Based on reported financial statements, Workiva’s total debt has remained remarkably stable at approximately $793.5M as of 2026Q1, indicating that management has successfully utilized existing credit facilities to fund operations without significantly increasing the company's overall debt burden over the past ten quarters.
The consistency in debt levels suggests a strategic approach to capital structure, prioritizing liquidity over rapid deleveraging. This stability provides a predictable interest expense profile, though the lack of debt reduction may warrant investigation into management's long-term plans for refinancing or capital allocation.
As reported in recent balance sheets, the company’s current ratio of 1.52 in 2026Q1 reflects a moderate liquidity position, providing a sufficient buffer to cover short-term obligations while maintaining the necessary cash reserves to support ongoing customer acquisition and platform development in the competitive regulatory software market.
While the current ratio has moderated from the highs of 2.08 seen in 2023Q4, it remains well within a healthy range for a SaaS-based business model. This liquidity profile appears adequate to navigate potential short-term volatility in regulatory mandate adoption without requiring immediate external capital injections.
Based on the provided data, deferred revenue reached $549.3M in 2026Q1, representing a significant portion of the company's total liabilities and serving as a critical forward-looking indicator of the recurring subscription demand inherent in the firm's regulatory reporting and ESG compliance platform.
The steady accumulation of deferred revenue suggests that the company is successfully locking in long-term contracts, which provides high visibility into future cash flows. This trend is particularly encouraging given the competitive nature of the industry and the importance of maintaining a stable revenue base to offset high sales and marketing expenditures.
Analysis of the balance sheet reveals that goodwill has grown to $204.2M as of 2026Q1, representing a substantial portion of total assets and suggesting that past acquisitions may carry inherent risks if the expected synergies fail to materialize in the current regulatory environment.
Investors should remain cautious regarding the valuation of these intangible assets, as any significant shift in the competitive landscape or a failure to integrate acquired technologies could necessitate future impairment charges. This concentration of goodwill warrants further investigation into the performance of the company's historical M&A activity.
Quick answers to the most common questions about buying WK stock.
As of 2025, Workiva Inc. (WK) had total assets of $1.49B including $1.16B in current assets.
Workiva Inc. (WK) carries total debt of $807.8M, offset by $891.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Workiva Inc. (WK) has total shareholders' equity (book value) of $-5.4M ($-0.10 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Workiva Inc. (WK) reported a current ratio of 1.57x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.