Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Workday Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Selected Financial Data since 2013
- Return on Assets (ROA) since 2013
- Debt to Equity since 2013
- Aggregate Accruals
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Workday Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2026-01-31), 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).
Overall, the company’s total assets demonstrate a consistent upward trend from 2021 through 2025, reaching $17,977 million before experiencing a slight decrease in 2026 to $18,074 million. This growth is primarily driven by increases in both current and noncurrent assets. A more detailed examination reveals varying patterns within specific asset categories.
- Liquidity and Current Assets
- Current assets increased significantly from $4,802 million in 2021 to $10,545 million in 2025, representing substantial growth in short-term asset holdings. However, a decrease is observed in 2026, falling to $8,429 million. This fluctuation is largely attributable to changes in cash, marketable securities, and trade receivables. Cash and cash equivalents exhibited moderate growth until 2024, then declined in 2025 and 2026. Marketable securities experienced a more pronounced increase, nearly tripling between 2021 and 2025, before decreasing substantially in 2026. Trade and other receivables also show a consistent upward trend, increasing from $1,032 million to $2,332 million over the period. Deferred costs and prepaid expenses also contribute to the growth in current assets, albeit to a lesser extent.
- Long-Term Investments and Intangibles
- Noncurrent assets also demonstrate an overall increasing trend, rising from $3,916 million in 2021 to $9,645 million in 2026. Goodwill represents the largest component of noncurrent assets, increasing significantly from $1,820 million to $5,229 million over the period, indicating potential acquisitions or increased valuation of existing businesses. Acquisition-related intangible assets also show growth, though with some volatility. Deferred tax assets experienced a dramatic increase in 2024, peaking at $1,065 million, before decreasing slightly in 2025 and 2026. Non-marketable equity and other investments show moderate growth. Operating lease right-of-use assets increased significantly in 2026, suggesting increased leasing activity.
- Fixed Assets
- Property and equipment, net, experienced modest growth from $972 million in 2021 to $1,239 million in 2025, followed by a slight decrease to $1,093 million in 2026. This suggests a relatively stable level of investment in fixed assets. Technology patents and other intangible assets, net, remained relatively stable throughout the period.
- Other Assets
- Other assets increased steadily from $180 million in 2021 to $460 million in 2026, indicating a consistent, though smaller, contribution to overall asset growth. Derivative assets show some fluctuation, peaking in 2025 before decreasing significantly in 2026. Prepayments for goods and services also increased, particularly in 2026.
In summary, the asset base of the company has expanded considerably between 2021 and 2026, driven by growth in both current and noncurrent assets. The significant increases in marketable securities, trade receivables, goodwill, and deferred tax assets are particularly noteworthy. The slight decrease in total assets in 2026 warrants further investigation to determine the underlying causes and potential implications.