Stock Analysis on Net
Stock Analysis on Net

Workday Inc. (NASDAQ:WDAY)

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

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

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Jul 31, 2026 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 0.64 0.72 0.79 0.58 0.56 0.53 0.60 0.45 0.54 0.48 0.47 0.57 0.65 0.85 1.14 0.61 0.46 0.96 0.53 0.51 0.58 0.56 0.87 0.70 0.77 0.49
Accrued expenses and other current liabilities 2.91 2.84 2.51 1.98 1.93 1.57 1.65 1.97 1.80 1.59 1.74 1.69 1.89 1.72 1.93 2.70 2.22 1.93 1.86 2.08 1.96 2.42 1.94 1.65 1.68 1.54
Accrued compensation 3.11 3.16 3.55 3.23 2.99 3.18 3.22 2.90 3.00 2.83 3.31 3.02 3.10 2.87 4.18 3.28 2.82 2.83 3.84 3.30 3.33 3.71 3.27 3.37 3.37 3.80
Unearned revenue, current 27.67 26.88 27.72 21.81 21.45 22.15 24.85 20.99 21.86 22.28 24.66 22.95 24.09 24.35 26.39 22.73 21.80 22.03 29.63 25.67 26.93 27.38 29.32 25.50 26.71 27.84
Operating lease liabilities, current 0.82 0.81 0.72 0.66 0.61 0.57 0.55 0.62 0.60 0.60 0.54 0.71 0.72 0.72 0.68 0.73 0.69 0.63 0.77 0.88 0.90 0.94 1.07 1.08 1.01 0.98
Debt, current 6.30 6.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.67 8.97 11.64 12.84 13.19 13.82 12.65 13.91 0.50 3.68
Current liabilities 41.45% 40.61% 35.29% 28.26% 27.53% 28.01% 30.86% 26.92% 27.80% 27.78% 30.73% 28.93% 30.45% 30.51% 34.32% 30.05% 36.66% 37.36% 48.27% 45.28% 46.90% 48.83% 49.12% 46.21% 34.03% 38.34%
Debt, noncurrent 12.55 12.37 16.53 16.82 16.62 17.34 16.60 18.16 18.37 18.70 18.11 21.39 21.68 22.46 22.07 24.01 22.45 23.23 5.88 6.74 7.18 7.81 7.94 8.94 23.36 20.88
Unearned revenue, noncurrent 0.45 0.44 0.39 0.39 0.36 0.38 0.45 0.39 0.38 0.38 0.43 0.45 0.44 0.47 0.55 0.51 0.41 0.46 0.68 0.75 0.70 0.75 0.92 0.88 0.86 1.08
Operating lease liabilities, noncurrent 4.12 4.26 3.90 3.89 3.79 1.80 1.55 1.69 1.75 1.68 1.38 1.43 1.40 1.38 1.35 1.58 1.61 1.42 1.74 2.15 2.30 2.48 4.02 4.50 3.62 3.52
Other liabilities 0.69 0.79 0.71 0.61 0.63 0.65 0.29 0.32 0.30 0.25 0.23 0.23 0.35 0.34 0.30 0.18 0.17 0.17 0.23 0.43 0.48 0.65 0.41 0.24 0.29 0.18
Noncurrent liabilities 17.81% 17.85% 21.53% 21.72% 21.40% 20.17% 18.89% 20.57% 20.80% 21.01% 20.15% 23.49% 23.87% 24.65% 24.27% 26.29% 24.63% 25.29% 8.53% 10.06% 10.66% 11.69% 13.28% 14.55% 28.13% 25.66%
Total liabilities 59.26% 58.47% 56.82% 49.98% 48.93% 48.18% 49.75% 47.49% 48.60% 48.79% 50.88% 52.43% 54.32% 55.17% 58.58% 56.34% 61.30% 62.65% 56.80% 55.35% 57.56% 60.51% 62.40% 60.76% 62.16% 64.00%
Common stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 84.28 80.37 70.12 69.35 67.12 67.98 63.76 67.68 66.95 65.94 63.21 71.68 70.16 69.38 65.46 67.80 60.29 59.35 69.38 73.30 72.85 73.03 71.74 78.83 79.38 73.75
Treasury stock -45.10 -36.26 -23.35 -15.24 -10.58 -9.30 -7.28 -7.36 -6.47 -4.65 -3.70 -3.39 -2.36 -1.40 -1.37 -0.89 -0.10 -0.10 -0.12 -0.13 -0.14 -0.14 -0.14 -3.43 -4.04 0.00
Accumulated other comprehensive income (loss) -0.61 -0.78 -0.75 -0.39 -0.41 -0.26 0.47 0.10 0.12 0.11 0.13 0.24 -0.05 0.32 0.39 0.84 0.48 0.34 0.07 -0.22 -0.48 -0.70 -0.63 0.01 0.01 0.80
Retained earnings (accumulated deficit) 2.16 -1.80 -2.83 -3.70 -5.06 -6.61 -6.70 -7.91 -9.19 -10.19 -10.52 -20.96 -22.08 -23.48 -23.07 -24.10 -21.97 -22.24 -26.14 -28.30 -29.79 -32.70 -33.38 -36.18 -37.51 -38.55
Stockholders’ equity 40.74% 41.53% 43.18% 50.02% 51.07% 51.82% 50.25% 52.51% 51.40% 51.21% 49.12% 47.57% 45.68% 44.83% 41.42% 43.66% 38.70% 37.35% 43.20% 44.65% 42.44% 39.49% 37.60% 39.24% 37.84% 36.00%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-07-31), 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 financial structure of the organization exhibits a significant transition in its capital composition and liability management over the observed period. There is a notable shift in the balance between total liabilities and stockholders' equity, characterized by an initial reduction in liability dependence followed by a recent increase in leverage and a highly aggressive share repurchase strategy.

Liability Composition and Trends
Total liabilities fluctuated from a peak of 64.00% in April 2020 to a low of 47.49% in October 2023, before trending upward again to 59.26% by July 2026. A primary driver of current liabilities is unearned revenue, which typically ranges between 21% and 29% of the total balance sheet. This represents a significant portion of the company's obligations, reflecting the nature of deferred revenue in a subscription-based model. Current debt showed extreme volatility, peaking at 13.82% in April 2021, disappearing for several quarters, and returning to 6.30% by July 2026.
Noncurrent Obligations
Noncurrent liabilities were primarily driven by noncurrent debt, which experienced several cycles of expansion and contraction. After a period of reduction, noncurrent debt rose to 24.01% in October 2022 before stabilizing between 12% and 18% in the final years of the period. Operating lease liabilities remained relatively low but showed a gradual increase, rising from 3.52% in early 2020 to 4.12% by July 2026, suggesting a slight expansion in long-term lease commitments.
Equity Evolution and Retained Earnings
The most prominent trend in stockholders' equity is the steady reduction of the accumulated deficit. Retained earnings moved from a deficit of 38.55% in April 2020 to a positive position of 2.16% by July 2026, signaling a transition toward sustained cumulative profitability. Simultaneously, additional paid-in capital remained a dominant component, peaking at 84.28% of the total balance sheet by July 2026.
Share Repurchase Activity
There is a stark increase in treasury stock, which indicates an aggressive share buyback program. Treasury stock as a percentage of total liabilities and stockholders' equity expanded from -4.04% in July 2020 to -45.10% by July 2026. This massive increase in treasury stock offsets the growth in paid-in capital and contributes to the overall volatility of the total stockholders' equity percentage, which declined from a peak of 52.51% in October 2023 to 40.74% by July 2026.

In summary, the capital structure has evolved from one characterized by a deep retained deficit and moderate debt to one defined by cumulative profitability and substantial equity reduction through share repurchases. While the overall liability ratio has returned to levels near 60%, the quality of these liabilities is heavily influenced by unearned revenue rather than purely financial debt.

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