Workday (WDAY): analysis in plain words
Is Workday cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Workday (WDAY) is listed on the Nasdaq and we classify it in software and cloud. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Workday according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Workday (WDAY) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $201.84 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 41.1x | Price over earnings per share |
| Revenue growth | +12.8% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 12.3% | Profit for every 100 of sales |
| Net debt / EBITDA | 0.2x | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | $48.6 billion | What the stock market values it at |
The Workday figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any WDAY figure that is not available shows as N/A: we do not estimate it.
How Workday makes money
Workday sells cloud software subscriptions that large and midsize organizations use to run human resources, from payroll and hiring to talent management, as well as their finance operations. Subscriptions account for nearly all revenue, with the remainder from implementation services. Customers are companies and public agencies, mostly in the United States.
Over the last 12 months, Workday brought in revenue of $10.2 billion. For every 100 it sells, Workday keeps 75.8 after the direct cost of what it sells (gross margin) and 11.8 after all operating costs (operating margin). With 20,896 full-time employees, that is about $486,000 of revenue per employee.
Workday against its sector
To know whether a Workday figure is high or low you have to put it next to similar companies. This table compares Workday with the median of the 19 software and cloud companies Fintols covers, with data as of November 4, 2026.
| Figure | Workday | software and cloud median |
|---|---|---|
| P/E | 41.1x | 29.0x (19) |
| Revenue growth | +12.8% | +20.5% (25) |
| Net margin | 12.3% | 16.0% (25) |
| Dividend yield | 0.00% | 0.00% (25) |
| Net debt / EBITDA | 0.2x | 0.1x (23) |
In short, against the typical software and cloud company, Workday trades on a higher P/E, grows more slowly and earns a thinner margin. By size, Workday ranks number 19 of 22 software and cloud companies quoted in USD on Fintols.
The bull case for Workday
These are the strengths in the Workday figures as of November 4, 2026:
- Analysts expect Workday earnings to rise: its P/E on the next 12 months of estimated earnings is 15.2x, below the current 41.1x.
- Workday generates real cash: $3.0 billion of free cash flow over 12 months, 6.3% of its stock market value.
- Workday earns 16.0% a year on its shareholders' money (return on equity).
The main risk for Workday
The price already assumes a lot: Workday trades at 41.1x its last 12 months of earnings, against 29.0x for the software and cloud median. If growth disappoints, the multiple can shrink and the share price with it.
And, like the rest of software and cloud, Workday is exposed to a competitor or AI making what it sells cheaper and forcing price cuts.
Frequently asked questions about Workday
Is it a good time to buy Workday stock?
Fintols does not tell you whether to buy or sell Workday, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Workday stock trades at $201.84, 15% below its 52-week high ($236.80) and 83% above its low ($110.36). Its P/E is 41.1x against a software and cloud median of 29.0x, and 15.2x on the earnings analysts expect over the next 12 months. With Workday, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Workday pay a dividend?
No. As of November 4, 2026, Workday does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying Workday today is counting on the share price rising, not on income.
Is Workday stock expensive?
It depends on what you compare it with. On P/E, Workday trades at 41.1x its last 12 months of earnings: more expensive than the software and cloud median (29.0x). Including its debt, Workday is valued at 30.3x its EBITDA (EV/EBITDA). A high P/E alone does not make Workday expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Workday's competitors?
On Fintols we compare Workday with Synopsys, Cadence and Autodesk, which are also in software and cloud. As of November 4, 2026, Synopsys is worth $88.7 billion and trades on a P/E of 81.8; Cadence is worth $90.4 billion and trades on a P/E of 65.5; Autodesk is worth $56.4 billion and trades on a P/E of 35.0. Each has a side-by-side comparison with Workday below.
Workday competitors
- Synopsys (SNPS) analysis · Workday vs Synopsys comparison
- Cadence (CDNS) analysis · Workday vs Cadence comparison
- Autodesk (ADSK) analysis · Workday vs Autodesk comparison
To understand Workday better
- Economic Moats Explained: From Warren Buffett to AI
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Workday: software and cloud stocks and S&P 500 companies. Open the full WDAY analysis with its valuation and scenarios. Educational content about Workday, not investment advice.