Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Statement of Comprehensive Income
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2013
- Return on Assets (ROA) since 2013
- Total Asset Turnover since 2013
- Price to Operating Profit (P/OP) since 2013
- Price to Sales (P/S) since 2013
- Analysis of Debt
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Workday Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).
- Liabilities Trends
- Over the periods analyzed, total liabilities as a percentage of total liabilities and stockholders’ equity exhibited a declining trend, decreasing from 63.52% in early 2020 to 49.75% by early 2025. This indicates a gradual reduction in the company's leverage over time.
- The composition of liabilities reveals a decrease in current liabilities, which dropped notably from 43.56% in 2020 to around 30.86% by 2025. Within current liabilities, unearned revenue also declined steadily from 32.62% in 2020 to approximately 24.85% in 2025, suggesting a reduction in upfront payments or deferred income.
- Contrastingly, accrued compensation as a percentage of total changes fluctuated, peaking at 4.18% in 2023 before decreasing to 3.22% in 2025. Accrued expenses and other current liabilities showed a slight downward movement in the last two years, lowering from 1.93% in 2023 to 1.65% in 2025.
- Debt dynamics are notable; current debt surged sharply in 2021 and 2022 to over 11%, but subsequently data for current debt is missing in later periods. Noncurrent debt initially decreased from 14.93% in 2020 to 5.88% in 2022 but then increased significantly to 22.07% in 2023 before gradually reducing to 16.6% by 2025. This volatility points to strategic refinancing or debt restructuring activities.
- Both operating lease liabilities categories (current and noncurrent) experienced declines overall, with current lease liabilities diminishing from 0.97% to 0.55% and noncurrent leases from 3.54% to 1.55%, indicating possible off-balance-sheet adjustments or lease terminations.
- Stockholders’ Equity and Related Components
- Stockholders’ equity increased steadily from 36.48% in 2020 to 50.25% in 2025, reflecting an improved equity base relative to total financing. This trend suggests enhanced capitalization or retained earnings accumulation.
- The accumulated deficit showed a strong improvement trend, moving from a negative 38.54% in 2020 to negative 6.7% in 2025, indicating a reduction in retained losses and possible ongoing profitability enhancements.
- Additional paid-in capital declined gradually from 74.68% to approximately 63.76%, which may reflect share repurchases or other equity-related transactions reducing this account relative to total financing.
- Treasury stock, recorded at cost, showed an increasing negative impact, starting near zero in 2020 and expanding significantly to -7.28% in 2025, signaling increased stock repurchase activities over the period.
- Accumulated other comprehensive income/loss displayed minor fluctuations, generally holding a low positive balance by the end of the interval, suggesting limited but improving unrealized gains or minimal impact from foreign currency adjustments or other comprehensive items.
- Summary of Financial Position Changes
- The overall financial structure shows a shift toward lower leverage and higher equity proportion between 2020 and 2025. The reduction in total liabilities as a share of financing, combined with the decreasing accumulated deficit, points to strengthened financial stability and an improving balance sheet.
- The declining unearned revenue proportion might reflect changes in revenue recognition policies or alterations in the business model affecting deferred income. Variations in debt levels and lease liabilities highlight dynamic capital management decisions during the period.
- Stock repurchases, as evidenced by increasing treasury stock, played a role in reshaping equity accounts, potentially impacting liquidity and capital structure.