Stock Analysis on Net
Stock Analysis on Net

Workday Inc. (NASDAQ:WDAY)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Workday Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Apr 30, 2026 Jan 31, 2026 Oct 31, 2025 Jul 31, 2025 Apr 30, 2025 Jan 31, 2025 Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020
Accounts payable
Accrued expenses and other current liabilities
Accrued compensation
Unearned revenue, current
Operating lease liabilities, current
Debt, current
Current liabilities
Debt, noncurrent
Unearned revenue, noncurrent
Operating lease liabilities, noncurrent
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock
Additional paid-in capital
Treasury stock
Accumulated other comprehensive income (loss)
Accumulated deficit
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30).

The capital structure exhibits a notable shift in the balance between liabilities and stockholders' equity over the observed period. Total liabilities initially represented 64.00% of the total balance sheet in April 2020, experiencing a general decline to a low of 47.49% by October 2023. However, a reversal occurred in the final quarters, with total liabilities rising back to 58.47% by April 2026.

Current Liabilities and Revenue Obligations
Current liabilities showed significant volatility, peaking at 49.12% in January 2021 before trending downward to 26.92% by October 2023. This trend was largely driven by unearned revenue, which remained the most significant component of current liabilities. Unearned revenue fluctuated between 20.99% and 29.63%, suggesting a consistent reliance on deferred revenue models. By April 2026, current liabilities rose again to 40.61%, coinciding with an increase in unearned revenue to 26.88%.
Debt Composition and Management
The debt profile transitioned between short-term and long-term obligations. Current debt peaked at 13.82% in April 2021 and remained negligible or absent for several years before reappearing at 6.20% in April 2026. Noncurrent debt showed a peak of 24.01% in October 2022, subsequently declining to 12.37% by April 2026. This suggests a strategic reduction in long-term leverage over the latter half of the period.
Equity Evolution and Retained Earnings
Stockholders' equity demonstrated a steady increase from 36.00% in April 2020 to a peak of 52.51% in October 2023, before declining to 41.53% by April 2026. A critical driver of this equity trend was the substantial reduction in the accumulated deficit, which improved from -38.55% to -1.80% by the end of the period, indicating a strong trajectory toward cumulative profitability.
Treasury Stock and Capital Returns
A significant trend is observed in the increase of treasury stock, which moved from negligible levels to -36.26% of total liabilities and stockholders' equity by April 2026. This aggressive increase in contra-equity indicates a substantial commitment to share repurchases, which contributed to the decline in total stockholders' equity in the final quarters despite the improvement in the accumulated deficit.

Overall, the financial position shifted from one characterized by high accumulated deficits and moderate leverage toward a structure defined by cumulative profitability and aggressive capital return through share buybacks, while maintaining a stable proportion of deferred revenue.