Current Ratio
since 2013
Calculation
Workday Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Jan 31, 2026 | 1.32 | = | 8,429) | ÷ | 6,378) |
| Jan 31, 2025 | 1.90 | = | 10,545) | ÷ | 5,548) |
| Jan 31, 2024 | 1.97 | = | 9,939) | ÷ | 5,055) |
| Jan 31, 2023 | 1.75 | = | 8,108) | ÷ | 4,628) |
| Jan 31, 2022 | 1.03 | = | 5,214) | ÷ | 5,068) |
| Jan 31, 2021 | 1.12 | = | 4,802) | ÷ | 4,283) |
| Jan 31, 2020 | 1.04 | = | 3,095) | ÷ | 2,969) |
| Jan 31, 2019 | 1.11 | = | 2,701) | ÷ | 2,431) |
| Jan 31, 2018 | 1.92 | = | 3,957) | ÷ | 2,059) |
| Jan 31, 2017 | 1.93 | = | 2,497) | ÷ | 1,296) |
| Jan 31, 2016 | 2.56 | = | 2,362) | ÷ | 923) |
| Jan 31, 2015 | 3.29 | = | 2,109) | ÷ | 641) |
| Jan 31, 2014 | 4.80 | = | 2,024) | ÷ | 422) |
| Jan 31, 2013 | 3.47 | = | 884) | ÷ | 255) |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31).
1 US$ in millions
The current ratio exhibited considerable fluctuation between 2013 and 2026. Initially strong, the ratio experienced a decline before stabilizing and then increasing again in later periods. A detailed examination reveals distinct phases in its behavior.
- Initial Strength and Decline (2013-2017)
- From 2013 to 2017, the current ratio began at a high of 3.47 and generally decreased. While it started at 3.47, it fell to 1.93 by 2017. This suggests a diminishing ability to cover short-term liabilities with short-term assets during this period. The decrease indicates either a faster growth in current liabilities relative to current assets, or a deliberate strategy to utilize current assets more efficiently.
- Stabilization and Recovery (2018-2023)
- Between 2018 and 2023, the current ratio remained relatively stable, fluctuating between 1.11 and 1.97. The ratio experienced a low of 1.11 in 2019, followed by a recovery to 1.75 in 2023. This period suggests a more consistent, though still modest, ability to meet short-term obligations. The improvement from 2019 to 2023 indicates a strengthening of the short-term financial position.
- Recent Trend (2024-2026)
- From 2024 to 2026, the current ratio showed a slight decrease from 1.97 to 1.32. While still above 1.0, this recent decline warrants monitoring. The decrease could signal emerging liquidity concerns or a shift in working capital management practices. The ratio’s movement in 2026 suggests a potential weakening in the company’s short-term liquidity position.
- Overall Assessment
- The observed pattern indicates a company that has navigated periods of both strong and weaker liquidity. The initial decline followed by stabilization and recent decrease suggests a dynamic financial environment. While the ratio generally remained above 1.0 for most of the period, indicating a basic ability to cover current liabilities, the fluctuations highlight the importance of ongoing monitoring of working capital management and short-term financial health.
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Comparison to Competitors
Workday Inc., current ratio, long-term trends, comparison to competitors
| Workday Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 31, 2026 | 1.32 | — | — | — | — | 1.77 | — | — | — | — | — | — | — | 0.76 | — | — |
| Jan 31, 2025 | 1.90 | 1.42 | 1.00 | 3.32 | 2.86 | 1.77 | 3.38 | 0.96 | 1.36 | 1.35 | 0.75 | 7.11 | 0.94 | 1.06 | 1.00 | 1.62 |
| Jan 31, 2024 | 1.97 | 1.10 | 1.07 | 2.19 | 2.93 | 1.76 | 2.64 | 1.04 | 1.29 | 1.27 | 0.72 | 5.96 | 0.89 | 1.09 | 1.10 | 2.44 |
| Jan 31, 2023 | 1.75 | 1.30 | 1.34 | 1.71 | 1.24 | 1.73 | 3.17 | 0.96 | 1.47 | 1.77 | 0.91 | 5.55 | 0.78 | 1.02 | 1.06 | 1.15 |
| Jan 31, 2022 | 1.03 | 1.23 | 1.11 | 3.35 | 1.27 | 1.83 | 3.09 | 0.92 | 1.39 | 1.78 | 1.62 | 5.17 | 0.77 | 1.05 | 1.11 | 1.09 |
| Jan 31, 2021 | 1.12 | 1.25 | 1.25 | 5.05 | 1.77 | 2.65 | 3.54 | 0.88 | 1.94 | 2.08 | 2.30 | 4.34 | 0.91 | 1.23 | 1.05 | 1.16 |
| Jan 31, 2020 | 1.04 | 1.40 | 1.48 | — | 1.86 | 2.38 | 5.77 | 0.98 | 2.26 | 2.52 | 3.03 | 3.74 | 1.91 | 1.08 | 1.21 | 1.19 |
| Jan 31, 2019 | 1.11 | 1.40 | 0.79 | — | 1.74 | — | 4.51 | 1.02 | 1.83 | 2.53 | 2.49 | — | 1.78 | 0.95 | 1.03 | 0.99 |
| Jan 31, 2018 | 1.92 | 1.34 | 1.13 | — | 1.34 | — | — | 1.29 | 1.14 | 2.90 | 3.96 | — | 1.93 | 0.92 | 1.17 | 0.73 |
| Jan 31, 2017 | 1.93 | 1.23 | 2.05 | — | 1.53 | — | — | 1.33 | 0.73 | 2.48 | 3.08 | — | 1.65 | 0.83 | 1.15 | 1.04 |
| Jan 31, 2016 | 2.56 | 1.35 | 2.08 | — | 1.20 | — | — | 1.21 | 0.72 | 2.35 | 3.74 | — | 2.03 | 0.77 | 1.25 | 1.00 |
| Jan 31, 2015 | 3.29 | 1.36 | 2.18 | — | 1.80 | — | — | 1.24 | 1.47 | 2.50 | 4.13 | — | 1.04 | 0.81 | 1.48 | 0.99 |
| Jan 31, 2014 | 4.80 | 1.46 | 1.85 | — | 1.33 | — | — | 1.25 | 1.84 | 2.50 | 3.35 | — | 2.75 | 0.67 | 1.79 | 1.09 |
| Jan 31, 2013 | 3.47 | 1.45 | 2.65 | — | 1.06 | — | — | 1.28 | 1.87 | 2.71 | 3.24 | — | 2.57 | 0.69 | 2.43 | 1.18 |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31).
Comparison to Sector (Software & Services)
Workday Inc., current ratio, long-term trends, comparison to sector (software & services)
| Workday Inc. | Software & Services | |
|---|---|---|
| Jan 31, 2026 | 1.32 | — |
| Jan 31, 2025 | 1.90 | 1.25 |
| Jan 31, 2024 | 1.97 | 1.20 |
| Jan 31, 2023 | 1.75 | 1.40 |
| Jan 31, 2022 | 1.03 | 1.44 |
| Jan 31, 2021 | 1.12 | 1.69 |
| Jan 31, 2020 | 1.04 | 1.92 |
| Jan 31, 2019 | 1.11 | 1.84 |
| Jan 31, 2018 | 1.92 | 2.23 |
| Jan 31, 2017 | 1.93 | 2.06 |
| Jan 31, 2016 | 2.56 | 2.03 |
| Jan 31, 2015 | 3.29 | 2.15 |
| Jan 31, 2014 | 4.80 | 2.01 |
| Jan 31, 2013 | 3.47 | 2.04 |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31).
Comparison to Industry (Information Technology)
Workday Inc., current ratio, long-term trends, comparison to industry (information technology)
| Workday Inc. | Information Technology | |
|---|---|---|
| Jan 31, 2026 | 1.32 | — |
| Jan 31, 2025 | 1.90 | 1.39 |
| Jan 31, 2024 | 1.97 | 1.24 |
| Jan 31, 2023 | 1.75 | 1.41 |
| Jan 31, 2022 | 1.03 | 1.37 |
| Jan 31, 2021 | 1.12 | 1.55 |
| Jan 31, 2020 | 1.04 | 1.71 |
| Jan 31, 2019 | 1.11 | 1.66 |
| Jan 31, 2018 | 1.92 | 1.88 |
| Jan 31, 2017 | 1.93 | 2.04 |
| Jan 31, 2016 | 2.56 | 2.01 |
| Jan 31, 2015 | 3.29 | 2.03 |
| Jan 31, 2014 | 4.80 | 1.97 |
| Jan 31, 2013 | 3.47 | 2.20 |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31).