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Technology · NASDAQ: WDAY

Workday: how the business works

Workday sells subscriptions to cloud software that organizations use to hire, pay and manage their people and run their finances, with revenue of $9.6 billion in FY2026.

By · Checked against filings: . Editorial policy. Corrections

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Workday, Inc. · Pleasanton, California · Founded 2005

Updated for Q2 FY2027 · checked

Revenue, FY2026
$9.6B
Operating income, FY2026
$721M
Net income, FY2026
$693M
Subscriptions, share of FY2026 revenue
92.5%
Employees, Jan 31, 2026
21,070

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

The short version

Workday in 5 points

  1. 1 · What it sells

    Workday sells subscriptions to cloud software that organizations use to hire, pay and manage employees and run their finances, with revenue of $9.6 billion in FY2026.

    More: what it sells

  2. 2 · Who pays it

    In FY2026, subscriptions to Workday's cloud applications brought in 92.5% of revenue and professional services, such as setup and training, 7.5%.

    More: who pays it

  3. 3 · What it keeps from $100

    Of every $100 that came in during FY2026, Workday kept $7.0 as net income, which includes $288 million of other income, and operating income was $7.55 per $100 of revenue.

    More: what it keeps from $100

  4. 4 · Where the operating profit comes from

    Workday reports one operating segment, but subscriptions kept $82.7 of every $100 after the direct cost of running the service, while professional services cost $790 million against $719 million of revenue in FY2026.

    More: where the operating profit comes from

  5. 5 · The one thing to watch

    Workday's total subscription revenue backlog grew 8.0% at Jul 31, 2026, against 20.9% at Jul 31, 2024, while subscription revenue grew 13.9% in Q2 FY2027.

    More: the one thing to watch

Sources: From Workday's FY2026 10-K, Q2 FY2027 10-Q and Q2 FY2024 to Q2 FY2027 earnings releases · checked

See the full receipt and the management scorecard below

Sources (3)
Next: Where $100 goes

01Where the money goes · FY2026

Where does $100 of Workday's money go?

Of every $100 that came in (revenue plus other income), this is where it went.

Workday · FY2026

Receipt for every $100

Where $100 of Workday's money went in FY2026
Product development$27.2
Sales and marketing$26.6
Running the subscription service$15.6
Administration and restructuring$12.3
Delivering professional services$8.0
Income tax$3.2
Kept as net income$7.0
Total$100

Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.

How this is worked out

Cityfort calculation from the FY2026 10-K. Of every $100 that came in during FY2026 (revenue plus other income, net): each line = line ÷ $9.84 billion × 100. Stock-based compensation of $1.6 billion sits inside the cost lines. Operating income was $7.55 per $100 of revenue; restructuring took $3.17.

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Sources (1)
Next: The business in one line

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02The business in one line

What does Workday do?

Organizations pay Workday yearly subscription fees for its HR and finance software; the biggest costs are product development and sales and marketing, and what's left is profit.

  • Subscriptions were 92.5% of Workday's $9.6 billion of revenue in FY2026, the year ended Jan 31, 2026. Contracts usually run three years or longer and are generally invoiced yearly in advance.
  • Of every $100 that came in during FY2026, $27.2 went on product development, $26.6 on sales and marketing and $15.6 on running the subscription service. Workday kept $7.0 as net income.
Next: Who pays it

03Who pays it

Who pays Workday?

  • Subscribers to Workday's cloud applications

    93%

    of revenue

    Organizations paying for access to HR, finance, spend, planning and AI software, with support: $8,833 million, 92.5% of FY2026 revenue, up 14.4%.

  • Buyers of professional services

    8%

    of revenue

    Consulting to set up and optimize the software, and training: $719 million, 7.5% of FY2026 revenue, down from $728 million in FY2025.

  • Subscribers to Workday's cloud applications93%
  • Buyers of professional services8%

How spread out the customers are

Workday's FY2026 10-K says no customer individually accounted for more than 10% of total revenues in FY2026, FY2025 or FY2024. Customers in the United States paid 75.1% of FY2026 revenue, and no other country was more than 10%.

Sources (1)
Next: Why it makes money

04Why it makes money

Why does Workday make money?

Customers stay for years, so profit depends on how fast spending on products and selling grows next to subscription revenue.

Subscriptions kept $82.7 of every $100 of subscription revenue after the direct cost of running the service in FY2026. Product development fell from $36.6 to $28.0 per $100 of revenue between FY2022 and FY2026. Operating income went from a loss of $2.26 to a profit of $7.55 per $100.

Operating income per $100 of revenue

−$2.3$7.6

FY2022 to FY2026

  1. Organizations sign subscriptions of three years or longer, generally paid yearly in advance
  2. More new and renewal contracts are signed in Q4 than in any other quarter
  3. Running the service costs about $17 per $100 of subscription revenue
  4. Product development and sales and marketing take about $55 per $100 of revenue
  5. Workday reports keeping 97% of recurring revenue from existing customers
  6. What's left pays for buybacks and acquisitions

↺ Step 6 feeds back into step 1.

Sources (2)
Next: Business segments

05Business segments · FY2026

Which businesses make up Workday?

  • Subscription services

    93%

    Access to Workday's cloud applications with support. After the direct cost of running the service, it kept $82.7 of every $100 in FY2026 (Cityfort calculation from the FY2026 10-K). Workday has one operating segment and reports no profit by product.

    Revenue $8.8B

  • Professional services

    8%

    Consulting and training. Its direct costs were higher than its revenue in every year from FY2022 to FY2026: $790 million against $719 million in FY2026.

    Revenue $719M

How the mix changed

  • Subscription services
  • Professional services

Revenue by segment, FY2022 to FY2026.

US$

See the numbers
How the mix changed (US$)
YearSubscription servicesProfessional services
FY2022$4.5B$593M
FY2023$5.6B$649M
FY2024$6.6B$656M
FY2025$7.7B$728M
FY2026$8.8B$719M
Sources (2)
Next: How has it done

06The numbers · Consolidated · US$

How has Workday done?

Revenue

$9.6BFY2026

Revenue grew every year, from $5.1 billion in FY2022 to $9.6 billion in FY2026, and was $2.6 billion in Q2 FY2027, up 12.8% from a year earlier.

US$

See the numbers
Revenue (US$)
PeriodRevenue (US$)
FY2022$5.1B
FY2023$6.2B
FY2024$7.3B
FY2025$8.4B
FY2026$9.6B
Q2 FY2025$2.1B
Q3 FY2025$2.2B
Q4 FY2025$2.2B
Q1 FY2026$2.2B
Q2 FY2026$2.3B
Q3 FY2026$2.4B
Q4 FY2026$2.5B
Q1 FY2027$2.5B
Q2 FY2027$2.6B

Net profit

$693MFY2026

Workday lost $367 million in FY2023; FY2024's $1.4 billion includes a $1,025 million tax benefit, and Q2 FY2027's $632 million includes a $374 million tax benefit.

US$

See the numbers
Net profit (US$)
PeriodNet profit (US$)EPS ($)
FY2022$29M$0.12
FY2023−$367M−$1.44
FY2024$1.4B$5.21
FY2025$526M$1.95
FY2026$693M$2.59
Q2 FY2025$132M$0.49
Q3 FY2025$193M$0.72
Q4 FY2025$94M$0.35
Q1 FY2026$68M$0.25
Q2 FY2026$228M$0.84
Q3 FY2026$252M$0.94
Q4 FY2026$145M$0.55
Q1 FY2027$222M$0.87
Q2 FY2027$632M$2.57

Profit kept per $100 of revenue

$7.3FY2026

Operating income was $7.55 per $100 of revenue in FY2026, up from a $2.26 loss in FY2022; stock-based compensation of $1.6 billion was 17.0% of FY2026 revenue and 235% of net income.

$ of profit per $100 of revenue (net margin)

See the numbers
Profit kept per $100 of revenue ($ of profit per $100 of revenue (net margin))
YearNet marginEBITDA margin
FY20220.6%4.4%
FY2023−5.9%2.3%
FY202419.0%6.4%
FY20256.2%8.8%
FY20267.3%11.2%

Free cash flow

$2.8BFY2026

Free cash flow rose from $1.2 billion in FY2022 to $2.8 billion in FY2026, and Q4 was the largest cash quarter of FY2026, the quarter when Workday signs the most new and renewal contracts.

US$ · cash from operations minus spending on plants and equipment

See the numbers
Free cash flow (US$ · cash from operations minus spending on plants and equipment)
YearCash from operationsCapital spendingFree cash flow
FY2022$1.7B$435M$1.2B
FY2023$1.7B$364M$1.3B
FY2024$2.1B$232M$1.9B
FY2025$2.5B$269M$2.2B
FY2026$2.9B$162M$2.8B
See all yearly numbers
Workday annual financials, FY2022–FY2026, US$
YearRevenueEBITDANet profitEPS ($)Operating cashCapexFree cash
FY2022$5.1B$228M$29M$0.12$1.7B$435M$1.2B
FY2023$6.2B$142M−$367M−$1.44$1.7B$364M$1.3B
FY2024$7.3B$465M$1.4B$5.21$2.1B$232M$1.9B
FY2025$8.4B$741M$526M$1.95$2.5B$269M$2.2B
FY2026$9.6B$1.1B$693M$2.59$2.9B$162M$2.8B

EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (January 31; FY2026 is the year ended Jan 31, 2026). Net profit is the share belonging to the company's owners.

Download Workday's yearly and quarterly numbers (CSV, with source ids)

Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares

Sources (13)
Next: What they said, and what happened

07Who runs it

Who runs Workday, and did they deliver?

  • Aneel Bhusri

    Co-founder, CEO and chair · since 2026

    Returned as CEO on Feb 6, 2026, replacing Carl Eschenbach; he was co-CEO from August 2020 to January 2024. His Mar 5, 2026 awards had grant values of $60 million in restricted stock units and $75 million in performance units tied to share-price levels of $171.39 to $274.22.

  • Zane Rowe

    Chief Financial Officer · since 2023

    Joined in June 2023. FY2026 total pay was $11.15 million.

  • Gerrit Kazmaier

    President, Product and Technology · since 2025

    Joined in March 2025 from Google Cloud. FY2026 total pay was $28.39 million.

  • Robert Enslin

    President, Chief Commercial Officer · since 2024

    Joined in December 2024; earlier CEO of UiPath and President, Cloud Sales at Google.

  • Mark Hawkins

    Lead independent director and vice chair

    Chairs the audit committee.

What they said, and what happened

5 delivered · 1 too early to tell

  1. Said on Nov 25, 2025

    Workday targeted Q4 FY2026 subscription revenue of $2.355 billion and FY2026 subscription revenue of $8.828 billion.

    What happened

    Reported $2.360 billion for Q4 and $8.833 billion for the year.

    Delivered

  2. Said on Nov 25, 2025

    Workday targeted 12-month subscription backlog (cRPO) growth of 15–16% for Q4 FY2026.

    What happened

    Reported growth of 15.8%.

    Delivered

  3. Said on Nov 25, 2025

    Workday said it planned to repurchase an additional $3.6 billion of shares through the end of FY2027.

    What happened

    Cash paid for buybacks was $4.43 billion from Q4 FY2026 to Q2 FY2027 (Cityfort calculation from the Q4 FY2026, Q1 FY2027 and Q2 FY2027 earnings releases).

    Delivered

  4. Said on Feb 24, 2026

    Workday targeted Q1 FY2027 subscription revenue of $2.335 billion, up 13%.

    What happened

    Reported $2.354 billion, up 14.3%.

    Delivered

  5. Said on May 21, 2026

    Workday targeted Q2 FY2027 subscription revenue of $2.455 billion, up 13%.

    What happened

    Reported $2.471 billion, up 13.9%.

    Delivered

  6. Said on Feb 24, 2026

    Workday targeted FY2027 subscription revenue of $9.925–9.950 billion, up 12–13%.

    What happened

    Narrowed to $9.940–9.950 billion on Aug 27, 2026. FY2027 ends Jan 31, 2027.

    Too early to tell
Sources (7)
Next: What could go wrong

08What could go wrong

What could go wrong for Workday?

  • Governance

    Co-founders control the vote

    Co-founders Aneel Bhusri and David Duffield held about 69% of total votes on Apr 17, 2026, through Class B shares with 10 votes each. Class B converts to Class A on Oct 17, 2032, or earlier if it falls below 9% of all shares.

    Watch Class B's share of all shares, about 18.7% on Aug 25, 2026 (Cityfort calculation from the Q2 FY2027 10-Q).

  • Demand

    Slower backlog growth

    Total subscription revenue backlog grew 8.0% at Jul 31, 2026, down from 20.9% two years earlier, and cRPO grew 14.2%. Workday says backlog moves with the timing of renewals, contract length and acquisitions.

    Watch Backlog and cRPO growth in the Q3 FY2027 release, and Q3 subscription revenue against the $2.515 billion Workday guided on Aug 27, 2026.

  • Competition

    AI-native rivals and smaller customer workforces

    Workday's FY2026 10-K names Oracle and SAP as competitors and non-specialist AI-native solutions as a competitive risk. It says its subscriptions are largely based on customers' headcount, so renewals for fewer employees could reduce revenue.

    Watch Gross revenue retention, 97% in Q2 FY2027 as Workday reports it.

  • Debt

    Less net cash, more debt

    Net cash fell from $5.0 billion at Jan 31, 2025 to $414 million at Jul 31, 2026, after buybacks and acquisitions (Cityfort calculation from the FY2026 10-K and Q2 FY2027 10-Q). Workday sold $2.5 billion of new notes at 5.700% to 6.500% on Oct 23, 2026.

    Watch Whether the $1.0 billion of 3.500% notes due Apr 1, 2027 are retired, and interest expense in the Q3 FY2027 10-Q.

  • Execution

    Repeated job cuts

    Workday recorded restructuring charges of $84 million in FY2025 and $303 million in FY2026. On Sep 29, 2026 it announced a cut of about 2.5% of its workforce, with expected charges of $65–80 million.

    Watch Restructuring charges and headcount, 20,896 at Jul 31, 2026.

  • Other

    Large stock-based pay

    Stock-based compensationPay given as shares instead of cash, which spreads ownership more thinly. Learn more was $1,626 million in FY2026, 17.0% of revenue and 235% of net income. The FY2026 non-GAAPThe company's own "adjusted" numbers, not the official (GAAP) ones. Always read them next to the official figure. Learn more operating margin of 29.6% leaves it out; the GAAP operating margin was 7.5%.

    Watch Stock-based compensation as a share of revenue, 17.4% in Q2 FY2027.

  • Execution

    Acquisitions to integrate

    Workday paid $2.1 billion for businesses in FY2026, including Paradox and Sana, and agreed on Oct 13, 2026 to buy C1.ai. Goodwill rose from $2,846 million at Jan 31, 2024 to $5,229 million at Jan 31, 2026.

    Watch The C1.ai closing, expected in Q4 FY2027, and any impairment charge.

  • Technology

    Outages and data breaches

    Workday hosts its applications in data centers operated by third parties. Its FY2026 10-K names service outages and security breaches of customer data among its risks.

    Watch Any outage or security incident disclosed in an 8-K or 10-Q.

Sources (11)
Next: Supporters vs. critics

09Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Revenue grew every year, from $5.1 billion in FY2022 to $9.6 billion in FY2026, and free cash flow from $1.2 billion to $2.8 billion.
  • Operating income went from a loss of $2.26 to a profit of $7.55 per $100 of revenue between FY2022 and FY2026.
  • Subscription revenue came in above Workday's own targets for Q4 FY2026, Q1 FY2027 and Q2 FY2027.
  • Workday reports gross revenue retention of 97% in Q2 FY2027, and no customer was more than 10% of revenue in FY2024 to FY2026.
  • Diluted shares fell to 246.3 million in Q2 FY2027 from 270.2 million a year earlier, after buybacks.

What critics point to

  • Total subscription revenue backlog grew 8.0% at Jul 31, 2026, down from 20.9% two years earlier.
  • Net cash fell from $5.0 billion at Jan 31, 2025 to $414 million at Jul 31, 2026, and Workday sold $2.5 billion of new notes in October 2026.
  • Stock-based compensation was $1.6 billion in FY2026, 235% of net income.
  • Workday recorded restructuring charges in FY2025 and FY2026 and announced another cut of about 2.5% of its workforce in September 2026.
  • The co-founders hold about 69% of the votes, and a 2026 stockholder proposal to report votes by share class failed.
Next: What to watch next

10What to watch next

What should you watch next at Workday?

Next event

Q3 FY2027 results

Date not announced yet.

  • Subscription revenue against guidance

    Workday said on Aug 27, 2026 that it expects Q3 FY2027 subscription revenue of $2.515 billion.

  • Backlog growth

    Total subscription revenue backlog grew 8.0% and cRPO 14.2% at Jul 31, 2026.

  • The 2027 notes

    Workday said it intends to use the October 2026 notes to retire $1.0 billion of notes due Apr 1, 2027; no filing read shows that yet.

  • Restructuring charges

    Workday expects $55–70 million of charges from the September 2026 job cuts in Q3 FY2027 and $10 million in Q4.

Next: Key dates

11Key dates

What are the key dates for Workday?

Dates as stated in the filings. A date that no filing has given yet shows as not yet stated.
Key dates for Workday
EventDateSource
Q3 FY2027 endedThe Q3 FY2027 results date is not announced in the documents read.Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026)
Fiscal 2027 endsEDGAR company filings index for Workday, Inc. (CIK 0001327811)
$1.0 billion of 3.500% notes dueWorkday said it intends to retire them with money from the October 2026 notes.Form 10-K, fiscal 2026 (year ended Jan 31, 2026); Form 8-K (Items 1.01, 2.03), $2.5 billion senior notes issued Oct 23, 2026
C1.ai purchase closesExpected in Q4 FY2027.Not yet statedForm 8-K (Item 8.01) and Ex. 99.1, agreement to acquire C1.ai
$1.5 billion revolving credit line endsForm 8-K (Items 1.01, 1.02, 2.03), new $1.5 billion revolving credit agreement
Class B shares convert to Class AOr earlier if Class B falls below 9% of all shares.Form 10-K, fiscal 2026 (year ended Jan 31, 2026)

Learn: Dual-class shares: when votes and ownership don't match · Fiscal years that don't end in December: Nvidia's FY2027 explained

Sources (6)
Next: Key facts

12Key facts

Key facts about Workday

What does Workday do?
Workday, Inc. sells cloud software that organizations use to recruit, pay and manage employees, keep their accounts, manage spending and plan budgets. Workday had revenue of $9.6 billion in FY2026, the year ended Jan 31, 2026, and more than 11,500 customer organizations.
How does Workday make money?
Workday makes money mainly from subscriptions to its cloud applications, which brought in $8.8 billion, or 92.5%, of its $9.6 billion of revenue in FY2026. Professional services, such as help setting up the software and training, brought in $719 million, or 7.5%.
What is Workday's business model?
Workday's business model is selling software subscriptions that typically run three years or longer and are generally invoiced yearly in advance. Workday had $28.1 billion of subscription revenue backlog, revenue under contract but not yet booked, at Jan 31, 2026. Its FY2026 10-K says the subscription model is largely based on the size of customers' employee headcount.
Is Workday profitable?
Yes. Workday reported operating income of $721 million and net income of $693 million on revenue of $9.6 billion in FY2026. Workday had operating losses in FY2022 and FY2023, and its FY2024 net income of $1.4 billion included a $1,025 million income tax benefit.
What is Workday's revenue by segment?
Workday reports one operating segment. In FY2026 Workday's revenue was $8.8 billion, or 92.5%, from subscription services and $719 million, or 7.5%, from professional services. Customers in the United States paid 75.1% of Workday's FY2026 revenue.
Who are Workday's customers?
Workday sells to emerging, medium-sized and large organizations in industries including financial services, government, healthcare, higher education, retail and technology. Workday's FY2026 10-K reports more than 11,500 customer organizations, and no customer accounted for more than 10% of revenue in FY2024, FY2025 or FY2026.
How much does Workday earn from subscriptions?
Workday's subscription services revenue was $8,833 million in FY2026, up 14.4% from $7,718 million in FY2025. In Q2 FY2027, the quarter ended Jul 31, 2026, Workday's subscription revenue was $2,471 million, up 13.9% from a year earlier.
How much does Workday earn from professional services?
Workday's professional services revenue, mainly consulting fees for setting up and optimizing its software plus training, was $719 million in FY2026, down from $728 million in FY2025. Workday's cost of providing these services was $790 million in FY2026, more than the revenue they brought in.
Who owns Workday?
Workday's co-founders Aneel Bhusri and David Duffield controlled about 69% of the votes on Apr 17, 2026, through Class B shares with 10 votes each that are covered by a stock voting agreement. BlackRock reported holding 10.0% of Workday's Class A shares on Aug 31, 2026.
Sources (5)
Next: Go deeper

Terms on this page

Each explains the term in plain English, with the same number from other companies on Cityfort.

Go deeper

More detail from the same filings. Open any section.

13What it sells

13What it sells

What does Workday sell?

Workday sells software that runs over the internet and helps organizations hire, pay and manage employees, keep their accounts and plan budgets. Customers pay subscription fees for access, usually under contracts of three years or longer.

  • Human capital management (HCM)

    Software to manage employees from recruitment to retirement: hiring, onboarding, pay, training and keeping staff. Recruiting tools include HiredScore and Paradox, both bought by Workday.

  • Financial management

    Accounting software for bills to pay and collect, combining the accounts of group companies and closing the books each period.

  • Spend management

    Tools to choose suppliers, manage contracts and sourcing, and submit and approve employee expenses.

  • Planning

    Planning software that models finance, workforce, sales and operating data so organizations can test different scenarios.

  • Workday GO

    A simpler HR and finance package designed and priced for medium-sized organizations. Management said medium-sized customers were roughly 60% of net new annual contract value in FY2026.

  • AI agents and Workday Sana

    AI agents built into the software, and Workday Sana, launched in FY2026 for searching company knowledge and automating tasks. Some AI products are sold through Flex Credits, a subscription-based pricing model introduced in FY2026.

  • Professional services

    Consulting to set up and optimize the software, and training: 7.5% of FY2026 revenue. Partners also provide these services.

What it does

  • Does: Sells most of its software as subscriptions of three years or longer, generally invoiced yearly in advance
  • Does: Bases its subscriptions largely on the size of each customer's workforce
  • Does: Hosts its applications in data centers operated by third parties, including Amazon Web Services and Google Cloud
  • Does: Buys companies to add AI tools, such as Paradox and Sana in FY2026

What it does not do

  • Does not: Does not get more than 10% of its revenue from any one customer
  • Does not: Does not report profit by product: it has one operating segment
  • Does not: Does not pay a dividend
Sources (2)
14How the money flows

14How the money flows · FY2026

How does money flow through Workday?

Money in

  • Subscription services$8.8B
  • Professional services$719M
  • Other income, net$288M

The company

Workday

$9.8B came in

Money out

  • Running the subscription service (cost of subscription services)$1.5B
  • Delivering professional services$790M
  • Product development$2.7B
  • Sales and marketing$2.6B
  • Administration and restructuring$1.2B
  • Income tax$316M
  • Net income$693M
  1. Customers paid Workday $9.6 billion in FY2026; $8.8 billion of it was subscriptions.
  2. Running the subscription service cost $1.5 billion, and delivering consulting and training cost $790 million.
  3. Product development took $2.7 billion, sales and marketing $2.6 billion, and administration and restructuring $1.2 billion.
  4. That left $721 million of operating income, and other income, net, added $288 million.
  5. After $316 million of income tax, $693 million was left as net income.
Sources (1)
15What it needs to run

15What it needs to run

What does Workday need to run?

  • People

    21,070 employees at Jan 31, 2026 and 20,896 at Jul 31, 2026. Workday cut about 7.5% of its workforce in February 2025 and about 2% in February 2026, and announced a cut of about 2.5% in September 2026.

  • Data centers run by others

    Workday hosts its applications in data centers operated by third parties, including Amazon Web Services and Google Cloud, and co-location data centers.

  • Product development

    $2.7 billion in FY2026, 28.0% of revenue, up from $1.9 billion, or 36.6% of revenue, in FY2022.

  • Partners

    Partners resell Workday, refer customers and help them set up the software. Management said about 25% of net new annual contract value in Q4 FY2026 came through partners.

  • Headquarters

    About 1.0 million square feet of owned offices in Pleasanton, California, on land leased until 2108.

Sources (6)
16Where it sells

16Where it sells · FY2026

Where does Workday sell?

  • United States75%
  • Other countries25%
Sources (1)
17Competitors and what protects it

17Competitors and what protects it

Who does Workday compete with?

Workday's FY2026 10-K names Oracle and SAP as large, well-established competitors, and also lists ADP, Microsoft, ServiceNow, NetSuite and UKG among others. No document read gives a market share.

  • Oracle

    NYSE: ORCL

    Named in Workday's FY2026 10-K as a large, well-established enterprise software vendor it competes with.

  • SAP SE

    Named in Workday's FY2026 10-K as a large, well-established enterprise software vendor it competes with.

  • ADP

    Listed in Workday's FY2026 10-K among other enterprise software vendors it competes with.

  • Microsoft

    NASDAQ: MSFT

    Listed in Workday's FY2026 10-K among other enterprise software vendors it competes with.

  • ServiceNow

    NYSE: NOW

    Listed in Workday's FY2026 10-K among other enterprise software vendors it competes with.

What protects the business

Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.

  • Multi-year subscriptions4 of 5

    Subscriptions were 92.5% of FY2026 revenue, contracts typically run three years or longer, and subscription revenue backlog was $28.1 billion at Jan 31, 2026.

  • Customers who stay4 of 5

    Workday reports gross revenue retention of 97% in Q4 FY2026, Q1 FY2027 and Q2 FY2027.

  • Spread of customers4 of 5

    More than 11,500 customer organizations, and no customer accounted for more than 10% of revenue in FY2024, FY2025 or FY2026.

Weak spot

Slower backlog growth and AI-native rivals

Workday's FY2026 10-K names non-specialist AI-native solutions among its competitive risks. Total subscription revenue backlog grew 8.0% at Jul 31, 2026, against 20.9% two years earlier.

Sources (6)
18Where growth could come from

18Where growth could come from

Where could Workday's growth come from?

Workday said on Aug 27, 2026 that it expects FY2027 subscription revenue of $9.940–9.950 billion, up 13%, and Q3 FY2027 subscription revenue of $2.515 billion, up 12%. On Sep 29, 2026 it repeated that guidance, except that it expects its FY2027 GAAP operating margin to be about 19 points below its non-GAAP margin of 31.0%.
Management statement, Aug 27, 2026. Reported as a statement, not our forecast.

  • AI agents

    Early

    About $600M ARR

    Workday's Q2 FY2027 deck puts annual recurring revenue from agentic AI at about $600 million, up more than 200% from a year earlier. Bhusri said AI drove more than 25% of new annual contract value in Q2 FY2027.

    Status: Early, too early to judge.

  • Subscription growth

    Mixed

    +13.9% in Q2 FY2027

    Subscription revenue grew 13.9% in Q2 FY2027, after 14.4% in FY2026 and 16.9% in FY2025. The 12-month subscription backlog (cRPO) grew 14.2% at Jul 31, 2026.

    Status: Mixed, partly on track.

  • Medium-sized organizations

    Working

    About 60% of FY2026 net new ACV

    Management said medium enterprise customers were roughly 60% of net new annual contract value in FY2026. Workday GO is its package designed and priced for them.

    Status: Working, on track against what the company said.

  • Acquisitions

    New

    $2.1B spent in FY2026

    Workday paid $2.1 billion, net of cash acquired, for businesses in FY2026, including Paradox and Sana for about $1.1 billion each. It agreed on Oct 13, 2026 to buy C1.ai, without disclosing the price. Goodwill rose from $2,846 million at Jan 31, 2024 to $5,229 million at Jan 31, 2026.

    Status: New, recently announced.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

Sources (7)
19The company's own measures (non-GAAP)

19The company's own measures · FY2026 and Q2 FY2027

What do Workday's own measures show?

Adjusted (non-GAAP) figures, backlog, ARR and retention are Workday's own measures, shown next to the official (GAAP) number. They are never added together.

  • Official (GAAP): Operating income, FY2026

    $721M

    Company's own measure: Non-GAAP operating income, FY2026

    $2.8B

    Workday leaves out stock-based compensation, employer payroll tax on employee stock transactions, amortization of acquired intangible assets, acquisition-related costs and restructuring. Stock-based compensation was $1.6 billion in FY2026, a real cost paid in shares.

  • Official (GAAP): Operating margin, Q2 FY2027

    11.8%

    Company's own measure: Non-GAAP operating margin, Q2 FY2027

    31.1%

    Leaves out the same costs. Stock-based compensation was $462 million in Q2 FY2027, 17.4% of revenue, the largest part of the gap.

  • Official (GAAP): Diluted EPS, Q2 FY2027

    $2.57

    Company's own measure: Non-GAAP diluted EPS, Q2 FY2027

    $2.75

    Workday's release says $1.52 of the $2.57 GAAP figure is a $374 million tax benefit from moving intellectual property rights between Workday entities.

  • Official (GAAP): Diluted EPS, FY2026

    $2.59

    Company's own measure: Non-GAAP diluted EPS, FY2026

    $9.23

    Leaves out the same costs as non-GAAP operating income.

  • Official (GAAP): Total subscription revenue backlog, Jul 31, 2026

    $27.4B

    Company's own measure: 12-month subscription revenue backlog (cRPO), Jul 31, 2026

    $9.0B

    cRPO is subscription revenue under contract that Workday expects to book within 12 months. It grew 14.2% from a year earlier.

  • Official (GAAP): Subscription revenue growth, Q2 FY2027

    13.9%

    Company's own measure: Total subscription revenue backlog growth, Jul 31, 2026

    8.0%

    Backlog growth was 20.9% at Jul 31, 2024. Workday says backlog moves with the timing of renewals, contract length and acquisitions.

  • Official (GAAP): Subscription revenue, Q2 FY2027

    $2.5B

    Company's own measure: Agentic AI annual recurring revenue, Q2 FY2027 (about, as Workday states it)

    $600M

    Workday's own measure; the deck defines ARR as the annualized value of active subscription contracts but does not say which products count as agentic AI.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Gross revenue retention, Q2 FY2027 (as Workday states it)

    97%

    Workday's measure of recurring revenue kept from the same customers as at the corresponding prior period-end, in constant currency; it counts revenue lost when customers leave or drop products and leaves out add-ons and price or volume increases.

These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.

Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out · Stock-based compensation and dilution: pay that becomes shares

Sources (6)
20Financial strength and debt

20Financial strength · Jul 31, 2026

How much debt does Workday have?

At Jul 31, 2026 Workday's cash and marketable securities exceeded its debt by $414 million, down from $5.0 billion at Jan 31, 2025.
  • Total debt$3.0B
  • Cash and investments$3.4B
  • Net cash (cash minus debt)$414M
  • Net worth (shareholders' money)$6.5B
Debt to equity
0.46×
$ of debt for every $1 of shareholders' money
  • Net cash is a Cityfort calculation from the Q2 FY2027 10-Q and the FY2026 10-K: cash and marketable securities minus the carrying value of debt. Operating lease liabilities, $834 million at Jan 31, 2026, are not counted as debt here.
  • Debt at Jul 31, 2026 was $3.0 billion of senior notes: $1.0 billion at 3.500% due Apr 1, 2027, $750 million at 3.700% due 2029 and $1.25 billion at 3.800% due 2032.
  • On Oct 23, 2026, after the quarter, Workday issued $2.5 billion of new notes paying 5.700% to 6.500%, due 2029 to 2036. It said it intends to use the money to retire the 2027 notes and for general corporate purposes; no filing read shows the 2027 notes retired yet.
  • Net cash fell as Workday spent $5.8 billion on buybacks in FY2026 and the first half of FY2027, and $2.1 billion on acquisitions in FY2026.
  • A new $1.5 billion revolving credit line, signed Oct 1, 2026 and running to Oct 1, 2031, had no loans outstanding at closing.
  • The Oct 21, 2026 pricing term sheet for the new notes lists ratings of BBB+ from S&P and Baa1 from Moody's.
Sources (7)
21Who owns it

21Who owns it · ownership as of Apr 17, 2026

Who owns Workday?

Class B shares carry 10 votes each and are not listed. Under a stock voting agreement, the co-founders' Class B held about 69% of total votes on Apr 17, 2026. All Class B converts to Class A on Oct 17, 2032, or earlier if Class B falls below 9% of all shares. Officers and directors held 18.6% of all shares (Cityfort calculation from the 2026 proxy statement), and may not use Workday shares as collateral for loans.
Officers and directors (as a group), shares
18.6%
Officers and directors (as a group), votes
69.0%

Shares vs votes by class

Workday has more than one class of shares, and the classes carry different votes. The share of votes a class holds can differ a lot from its share of the shares.

  • Class A common stock: share of all votes30.3%
  • Class B common stock: share of all votes69.7%

Each class's part of all votes = its shares outstanding × votes per share ÷ the total for all classes.

Share classes
Workday share classes: shares outstanding (millions) and votes per share
ClassShares (millions)Votes per shareHeld by% of shares% of votesTraded
Class A common stock (About 196 million shares on Aug 25, 2026 (10-Q cover, rounded to millions). Share and vote percentages are a Cityfort calculation from the Q2 FY2027 10-Q, at 10 votes per Class B share.)1961Public and institutional investors; trades on Nasdaq as WDAY81.3%30.3%Yes
Class B common stock (About 45 million shares on Aug 25, 2026 (10-Q cover, rounded to millions). Class B converts into Class A one-for-one.)4510Officers and directors as a group held 99% of this class on Apr 17, 2026, mostly co-founders David Duffield (through the Duffield Trust) and Aneel Bhusri, as stated in the 2026 proxy18.7%69.7%No
Holders of 5% or more
Workday holders of 5% or more, from the proxy statement or later Schedule 13G filings; each row shows its own date
HolderSharesVotesAs ofSourceNote
Aneel Bhusri (co-founder, CEO and chair)99.0%69.0%Apr 17, 2026S16% of Class B: 45,660,277 Class B shares and 447,471 Class A shares, as stated in the 2026 proxy. The Class B count includes 37,528,834 shares of the Duffield Trust, covered by the co-founders' stock voting agreement.
BlackRock, Inc.10.0%–Aug 31, 2026S27% of Class A as the filer computed it: 19,666,221 shares, from its Schedule 13G/A filed Sep 4, 2026.
Vanguard Capital Management7.6%–Mar 31, 2026S28, S30% of Class A as the filer computed it: 15,944,978 shares, from its Schedule 13G filed Apr 29, 2026. The Vanguard Group reported 0 shares in March 2026 after an internal realignment.
Hotchkis and Wiley Capital Management6.3%–Jun 30, 2026S31% of Class A as the filer computed it: 12,679,129 shares, from its Schedule 13G/A filed Aug 12, 2026.
Eagle Capital Management5.6%–Jun 30, 2026S32% of Class A as the filer computed it: 11,323,681 shares, from its Schedule 13G filed Aug 14, 2026.
Vanguard Portfolio Management5.6%–Mar 31, 2026S29% of Class A as the filer computed it: 11,704,297 shares, from its Schedule 13G filed Apr 29, 2026.

From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.

Insider trades · Form 4 data as of Nov 6, 2026

What did Workday's insiders report trading?

Workday's insiders made 96 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.

They reported no purchases and 276 sales (3.6 million shares) in the open market or privately (codes P and S).

276 of the 276 sales were on forms with the Rule 10b5-1 plan box checked.

The same filings report 97 other share transactions (C: 37, F: 33, A: 24, G: 3).

They also report 38 transactions in options, stock units or other derivatives.

Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.

P
a purchase in the open market or privately
S
a sale in the open market or privately
A
a grant, award or other acquisition from the company under Rule 16b-3
F
shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
C
conversion of a derivative security
G
a bona fide gift

Code meanings: General Instruction 8 of Form 4 (SEC).

The latest 25 of 373 transactions
Workday's insider transactions reported on Form 4 in the 12 months to Nov 6, 2026, newest filing first
InsiderTrade dateCodeSharesPriceHeld after10b5-1 boxFiling
Garfield Mark S.Chief Accounting OfficerOct 12, 2026S918 D$189.4569,309CheckedForm 4, filed Oct 14, 2026
DUFFIELD DAVID A10% ownerOct 9, 2026C99,835 A$0.00204,884CheckedForm 4, filed Oct 13, 2026
DUFFIELD DAVID A10% ownerOct 9, 2026S46,607 D$186.3611158,277CheckedForm 4, filed Oct 13, 2026
DUFFIELD DAVID A10% ownerOct 9, 2026S14,294 D$186.9151143,983CheckedForm 4, filed Oct 13, 2026
DUFFIELD DAVID A10% ownerOct 9, 2026S14,228 D$188.1919129,755CheckedForm 4, filed Oct 13, 2026
DUFFIELD DAVID A10% ownerOct 9, 2026S12,732 D$189.3633117,023CheckedForm 4, filed Oct 13, 2026
DUFFIELD DAVID A10% ownerOct 9, 2026S10,472 D$190.1343106,551CheckedForm 4, filed Oct 13, 2026
DUFFIELD DAVID A10% ownerOct 9, 2026S1,502 D$190.9623105,049CheckedForm 4, filed Oct 13, 2026
DUFFIELD DAVID A10% ownerOct 6, 2026C99,228 A$0.00204,277CheckedForm 4, filed Oct 7, 2026
DUFFIELD DAVID A10% ownerOct 6, 2026S2,800 D$184.8036201,477CheckedForm 4, filed Oct 7, 2026
DUFFIELD DAVID A10% ownerOct 6, 2026S10,284 D$185.8604191,193CheckedForm 4, filed Oct 7, 2026
DUFFIELD DAVID A10% ownerOct 6, 2026S45,984 D$186.6572145,209CheckedForm 4, filed Oct 7, 2026
DUFFIELD DAVID A10% ownerOct 6, 2026S10,054 D$187.7663135,155CheckedForm 4, filed Oct 7, 2026
DUFFIELD DAVID A10% ownerOct 6, 2026S19,534 D$188.6438115,621CheckedForm 4, filed Oct 7, 2026
DUFFIELD DAVID A10% ownerOct 6, 2026S10,572 D$189.3929105,049CheckedForm 4, filed Oct 7, 2026
Rowe ZaneChief Financial OfficerOct 6, 2026S300 D$184.99275,342CheckedForm 4, filed Oct 7, 2026
Rowe ZaneChief Financial OfficerOct 6, 2026S2,800 D$186.4522272,542CheckedForm 4, filed Oct 7, 2026
Rowe ZaneChief Financial OfficerOct 6, 2026S1,000 D$187.1714271,542CheckedForm 4, filed Oct 7, 2026
Rowe ZaneChief Financial OfficerOct 6, 2026S1,100 D$188.4127270,442CheckedForm 4, filed Oct 7, 2026
Rowe ZaneChief Financial OfficerOct 6, 2026S800 D$189.2461269,642CheckedForm 4, filed Oct 7, 2026
Kazmaier Gerrit SPresident, Prod. and Tech.Oct 6, 2026S200 D$184.85253,843CheckedForm 4, filed Oct 7, 2026
Kazmaier Gerrit SPresident, Prod. and Tech.Oct 6, 2026S1,029 D$186.3201252,814CheckedForm 4, filed Oct 7, 2026
Kazmaier Gerrit SPresident, Prod. and Tech.Oct 6, 2026S500 D$186.846252,314CheckedForm 4, filed Oct 7, 2026
Kazmaier Gerrit SPresident, Prod. and Tech.Oct 6, 2026S500 D$188.434251,814CheckedForm 4, filed Oct 7, 2026
Kazmaier Gerrit SPresident, Prod. and Tech.Oct 6, 2026S500 D$189.494251,314CheckedForm 4, filed Oct 7, 2026

Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Workday's Form 4 filings on EDGAR.

Learn: Dual-class shares: when votes and ownership don't match · How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades

Sources (8)
22What it does with profit

22What it does with profit

What does Workday do with its profit?

Workday has never paid a dividend. Buybacks were 104.2% of free cash flow in FY2026 (Cityfort calculation from the FY2026 10-K). Authorizations of $1.0 billion (May 2025) and $4.0 billion (September 2025) were fully used by Jul 31, 2026, and the board authorized a new $4.0 billion in August 2026. Shares outstanding fell from 266.4 million at Jan 31, 2025 to about 241 million on Aug 25, 2026.

  • Buyback · Jan 31, 2023

    Repurchased $75 million of common stock in FY2023.

    $75M

  • Buyback · Jan 31, 2024

    Repurchased $423 million of common stock in FY2024.

    $423M

  • Buyback · Jan 31, 2025

    Repurchased $700 million of common stock in FY2025.

    $700M

  • Buyback · Jan 31, 2026

    Repurchased $2.9 billion of common stock in FY2026; 12.8 million shares.

    $2.9B

  • Buyback · Jul 31, 2026

    Repurchased $2.9 billion in Q1 and Q2 FY2027, about 21.8 million shares. Average monthly prices from May to July 2026 ranged from $125.64 to $141.56.

    $2.9B

  • Money raised · Oct 23, 2026

    Sold $2.5 billion of senior notes in four parts, due 2029 to 2036, paying 5.700% to 6.500%. Workday said it intends to use the money to retire its $1.0 billion of notes due 2027 and for general corporate purposes.

    $2.5B

Sources (7)
23Governance signals

23Governance signals

What do Workday's governance filings show?

Auditor
Ernst & Young LLP, since 2008
Auditor changes
None in the period covered
Audit qualifications
None reported
Related-party dealings
The 2026 proxy reports that Workday paid $2.79 million in FY2026 to Incline Alchemy, an implementation partner 40.6% owned by co-founder David Duffield and majority-owned by his son, for services to Workday customers. Workday also leased office space in Nevada from a Duffield affiliate for $147,318. BlackRock and Vanguard, both 5% holders, are Workday customers.
Credit rating
S&P and Moody's (as listed in Workday's Oct 21, 2026 pricing term sheet for its senior notes) BBB+ (S&P) / Baa1 (Moody's) (Not stated in the term sheet), Oct 21, 2026

A credit rating describes the company's ability to repay debt. It is not a rating of the share.

Flags to know about

  • other · Feb 9, 2026

    Chair and CEO roles combined

    Co-founder Aneel Bhusri has been both chair and CEO since Feb 6, 2026. Mark Hawkins is lead independent director and vice chair.

  • other · Feb 9, 2026

    CEO change in February 2026

    Carl Eschenbach stepped down as CEO and director on Feb 6, 2026. Under his separation terms he received $3.60 million in cash plus accelerated vesting.

  • other · Jun 22, 2026

    Executive pay vote: 87.6% in favor

    At the Jun 16, 2026 annual meeting, 87.6% of for and against votes backed executive pay in an advisory vote, with Class B counted at 10 votes a share (Cityfort calculation from the 8-K filed Jun 22, 2026). A stockholder proposal to report vote results by share class received 91.1 million votes for and 534.5 million against.

  • related party

    Business with a co-founder's companies

    Incline Alchemy, 40.6% owned by David Duffield, received $2.79 million from Workday in FY2026 for services to Workday customers; Ridgeline, 81.8% owned by Duffield, is a Workday customer. The proxy says these were arms-length agreements.

Sources (5)
24What the market paid

24What the market paid · price as of Nov 5, 2026

What did the market pay for Workday on Nov 5, 2026?

Price as of Nov 5, 2026 (shown for education; prices change daily).

Price as of Nov 5, 2026: Workday's Class A shares closed at $200.17, from Nasdaq's historical price table. Times about 241 million Class A and Class B shares (Aug 25, 2026), that is a market value of about $48.2 billion (Cityfort calculation from the Nov 5, 2026 closing price on Nasdaq and the Q2 FY2027 10-Q). Class B shares are not listed but convert one-for-one into Class A. P/E is price ÷ earnings per share: 77.3 on FY2026 diluted EPS of $2.59 (Cityfort calculation from the Nov 5, 2026 closing price and the FY2026 10-K). Workday pays no dividend.

Share price
$200.17
Market value (market cap)
$48.2B
P/E
77.3×

More price-based ratios · as of Nov 5, 2026

Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.

Shares used for the market value: 241 million ($200.17 × 241 million shares ≈ $48.2B). Source: Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026); Definitive proxy statement (DEF 14A), 2026 annual meeting

Source: WDAY historical daily prices, Nasdaq (close of Nov 5, 2026: $200.17); Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026); Form 10-K, fiscal 2026 (year ended Jan 31, 2026)

Sources (9)
25How it got here

25How it got here

How did Workday get here?

  1. 2005

    Milestone

    Founded

    David Duffield and Aneel Bhusri co-founded Workday in 2005; it says it pioneered HR (HCM) software in the cloud.

  2. 2022

    Milestone

    $3.0 billion of senior notes

    In FY2023 Workday issued $3.0 billion of senior notes due 2027, 2029 and 2032, and repaid $1.8 billion of earlier debt.

  3. 2024

    Milestone

    Operating profit in FY2024

    Workday reported operating income of $183 million in FY2024, after operating losses in FY2022 and FY2023.

  4. 2024

    Business-model change

    Bought HiredScore

    Workday bought HiredScore, an AI recruiting tool, in March 2024 for $530 million in cash.

  5. 2025

    Crisis

    Job cuts of about 7.5%

    In February 2025 Workday announced a plan to cut about 7.5% of its workforce. Restructuring charges were $84 million in FY2025 and $303 million in FY2026.

  6. 2025

    Business-model change

    Paradox and Sana

    Workday bought Paradox, a conversational AI recruiting tool, in September 2025 and Sana Labs, an AI company building knowledge tools, in November 2025, for about $1.1 billion each.

  7. 2026

    Business-model change

    Co-founder back as CEO

    Aneel Bhusri returned as CEO on Feb 6, 2026, replacing Carl Eschenbach.

  8. 2026

    Milestone

    New buyback and new debt

    The board authorized a new $4.0 billion buyback in August 2026, and Workday sold $2.5 billion of notes on Oct 23, 2026.

  9. 2026

    Milestone

    Agreed to buy C1.ai

    On Oct 13, 2026 Workday agreed to buy C1.ai, an agentic identity company. It did not disclose the price and expects the deal to close in Q4 FY2027.

Sources (8)

26Sources and changes

Where every number on this page comes from

Sources (36 documents)
  1. S1Form 10-K, fiscal 2026 (year ended Jan 31, 2026) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 6, 2026
  2. S3Form 10-K, fiscal 2024 (year ended Jan 31, 2024) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 8, 2024
  3. S5Form 10-Q, Q2 fiscal 2027 (quarter ended Jul 31, 2026) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 27, 2026
  4. S6Form 10-Q, Q1 fiscal 2027 (quarter ended Apr 30, 2026) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 22, 2026
  5. S7Earnings release, Q2 fiscal 2027 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 27, 2026
  6. S8Earnings release, Q1 fiscal 2027 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 21, 2026
  7. S9Earnings release, Q4 and full fiscal 2026 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 24, 2026
  8. S10Earnings release, Q3 fiscal 2026 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 25, 2025
  9. S11Earnings release, Q2 fiscal 2026 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 21, 2025
  10. S12Earnings release, Q1 fiscal 2026 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 22, 2025
  11. S13Earnings release, Q4 and full fiscal 2025 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 25, 2025
  12. S14Earnings release, Q3 fiscal 2025 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 26, 2024
  13. S15Earnings release, Q2 fiscal 2025 (8-K Ex. 99.1) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 22, 2024
  14. S16Definitive proxy statement (DEF 14A), 2026 annual meeting · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 5, 2026
  15. S17Form 8-K (Item 5.07), 2026 annual meeting vote results · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jun 22, 2026
  16. S18Form 8-K (Items 2.02, 2.05, 2.06), February 2026 reorganization (~2% of workforce) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 4, 2026
  17. S19Form 8-K (Items 5.02, 7.01) and Ex. 99.1, CEO transition: Aneel Bhusri returns as CEO · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 9, 2026
  18. S20Form 8-K (Item 5.02), CEO equity awards granted Mar 5, 2026 · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 6, 2026
  19. S21Form 8-K (Items 2.02, 2.05), September 2026 reorganization (~2.5% of workforce) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 29, 2026
  20. S22Form 8-K (Items 1.01, 1.02, 2.03), new $1.5 billion revolving credit agreement · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 1, 2026
  21. S23Form 8-K (Item 8.01) and Ex. 99.1, agreement to acquire C1.ai · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 13, 2026
  22. S24Free writing prospectus: pricing term sheet for $2.5 billion senior notes (Oct 21, 2026) · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 22, 2026
  23. S25Form 8-K (Items 1.01, 2.03), $2.5 billion senior notes issued Oct 23, 2026 · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 23, 2026
  24. S26Preliminary prospectus supplement (424B5) for the October 2026 senior notes · Workday, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 21, 2026
  25. S27Schedule 13G/A filed by BlackRock, Inc. (event date Aug 31, 2026) · BlackRock, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 4, 2026
  26. S28Schedule 13G filed by Vanguard Capital Management (event date Mar 31, 2026) · Vanguard Capital Management (SEC EDGAR) · Tier 1: company or exchange filing · Apr 29, 2026
  27. S29Schedule 13G filed by Vanguard Portfolio Management (event date Mar 31, 2026) · Vanguard Portfolio Management (SEC EDGAR) · Tier 1: company or exchange filing · Apr 29, 2026
  28. S30Schedule 13G/A filed by The Vanguard Group (event date Mar 13, 2026; reports 0 shares after internal realignment) · The Vanguard Group (SEC EDGAR) · Tier 1: company or exchange filing · Mar 27, 2026
  29. S31Schedule 13G/A filed by Hotchkis and Wiley Capital Management (event date Jun 30, 2026) · Hotchkis and Wiley Capital Management, LLC (SEC EDGAR) · Tier 1: company or exchange filing · Aug 12, 2026
  30. S32Schedule 13G filed by Eagle Capital Management (event date Jun 30, 2026) · Eagle Capital Management, LLC (SEC EDGAR) · Tier 1: company or exchange filing · Aug 14, 2026
  31. S33Q4 fiscal 2026 earnings call prepared remarks (Bhusri, Kazmaier, Enslin, Rowe) · Workday, Inc. (investor relations) · Tier 1: company or exchange filing · Feb 24, 2026
  32. S34Q1 fiscal 2027 earnings call prepared remarks · Workday, Inc. (investor relations) · Tier 1: company or exchange filing · May 21, 2026
  33. S35Q3 fiscal 2026 earnings call prepared remarks · Workday, Inc. (investor relations) · Tier 1: company or exchange filing · Nov 25, 2025
  34. S36Investor presentation, Q2 fiscal 2027 · Workday, Inc. (investor relations) · Tier 1: company or exchange filing · Aug 27, 2026
  35. S37WDAY historical daily prices, Nasdaq (close of Nov 5, 2026: $200.17) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
  36. S38EDGAR company filings index for Workday, Inc. (CIK 0001327811) · SEC EDGAR · Tier 1: company or exchange filing · Nov 6, 2026
Changes to this page (v1 · Nov 6, 2026)
  1. v1 · Nov 6, 2026First version, through Q2 FY2027 (quarter ended Jul 31, 2026). (first version)

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