Workday Inc. (NASDAQ:WDAY)

Net Fixed Asset Turnover

The net fixed asset turnover ratio demonstrates a general upward trend over the periods analyzed. Starting from a value of 4.08, the ratio steadily increases across most quarters, peaking at 8.15 in the later periods. This indicates improved efficiency in utilizing fixed assets to generate revenue over time. Occasional minor fluctuations appear, but the overall pattern signifies strengthening asset management and operational productivity.

Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)

This adjusted measure of fixed asset turnover, incorporating lease assets, also shows a positive trend but with more moderate growth relative to the traditional net fixed asset turnover. Beginning at 3.06, the ratio fluctuates somewhat in the initial quarters, but consistently rises from around early 2022, reaching a notable peak of 5.82, followed by a slight decline and stabilization around 4.87 to 4.98 in the most recent quarters. The data suggests growing but somewhat more variable efficiency in leveraging leased assets alongside owned fixed assets.

Total Asset Turnover

The total asset turnover ratio remains relatively stable but exhibits some volatility throughout the periods. The ratio starts near 0.53, experiences a decline around early to mid-2022 reaching lows near 0.42-0.43, followed by a gradual recovery to values around 0.5 or slightly higher by the latest periods. This pattern suggests fluctuating efficiency in overall asset usage to generate sales, possibly reflecting changes in asset base or revenue dynamics.

Equity Turnover

Equity turnover shows a clear declining trend over the periods. From a higher level of 1.47 initially, the ratio diminishes almost consistently, reaching a trough of about 0.9 in early 2024. Minor improvements occur later, with the ratio rising modestly to approximately 1.04 in the most recent quarter. This trend may denote decreasing capital turnover or possibly an increase in equity relative to revenue, reflecting shifts in capital structure or investment intensity.

The financial data reveals clear trends in revenues, net fixed assets, and asset efficiency over the observed periods.

Revenues

Revenues exhibit a consistent upward trajectory from April 2020 through October 2025. Starting at approximately 1,018 million USD in April 2020, the revenues steadily grow quarter over quarter, reaching over 2,400 million USD by October 2025. This demonstrates strong top-line growth and suggests an expanding business or increased market acceptance of products and services offered.

Property and equipment, net

Net property and equipment values remain relatively stable throughout the periods, fluctuating modestly around the range of 900 to 1,200 million USD. There is a noticeable increase in net property and equipment in early 2021, likely indicating capital investments. However, from early 2023 forward, these values trend slightly downward or flatten, ending near 1,130 million USD by October 2025. This pattern may suggest limited new investments or possible asset disposals in later periods.

Net fixed asset turnover

The ratio of net fixed asset turnover shows a consistent improvement, starting at about 4.08 in April 2020 and increasing continuously to exceed 8.0 by October 2025. This reflects heightened efficiency in utilizing fixed assets to generate revenue, likely attributable to either improved asset management, increased revenue generation without proportional increases in fixed assets, or a combination of these factors.

Overall, the data indicate a company achieving significant revenue growth while maintaining controlled investment in fixed assets and improving asset utilization efficiency. The rising asset turnover ratio alongside stable or decreasing fixed asset levels highlights effective resource deployment contributing to enhanced operational productivity.

The analysis of the quarterly financial data reveals several notable trends in the company's operational performance and asset management over the period examined.

Revenues

Revenues show a consistent upward trajectory throughout the entire period. Starting at approximately US$1,018 million in April 2020, revenues steadily increased each quarter, culminating at around US$2,432 million by October 2025. This continuous growth suggests a strong expansion in the company's sales or service delivery capabilities, indicating positive business momentum and potentially increasing market demand.

Property and Equipment, Net (including operating lease, right-of-use asset)

The net property and equipment values exhibit fluctuation rather than a consistent trend. Initially, the figure rose from US$1,247 million in April 2020 to reach a peak around US$1,519 million in July 2022. Subsequently, it decreased slightly, hovering in the range of US$1,450 million to US$1,580 million until mid-2025. A sharp increase is observed towards the end, with values reaching approximately US$1,853 million by October 2025. This pattern could reflect periods of investment in fixed assets alternating with phases of depreciation or disposals, culminating in significant acquisitions or upgrades near the end of the period.

Net Fixed Asset Turnover (including operating lease, right-of-use asset)

The net fixed asset turnover ratio generally improves over time, beginning at 3.06 in April 2020 and climbing steadily to a peak of 5.82 by July 2025. The ratio, indicating the efficiency in using net fixed assets to generate revenues, suggests enhanced operational efficiency and better utilization of property and equipment. A temporary dip to 4.87 at the end of the period is observed but is followed by a moderate recovery to 4.98 in the final quarter. These fluctuations might signal minor operational adjustments or asset base changes impacting productivity ratios.

In summary, the company demonstrates strong revenue growth set against varying investment levels in fixed assets, with an overall efficiency improvement in asset utilization. The increasing net fixed asset turnover ratio highlights improved management of physical assets relative to revenue generation, despite some volatility in net property and equipment values. These findings suggest a strategic focus on growth and asset optimization over the analyzed quarters.

The financial data over the analyzed periods reveals several key trends in revenues, total assets, and total asset turnover.

Revenues

Revenues demonstrate a consistent upward trajectory throughout the entire timeline. Starting at 1,018 million USD, revenues steadily increase quarter-over-quarter, reaching 2,432 million USD by the final period. This indicates strong and sustained growth in the company's sales or service income over the span considered, reflecting positive operational performance and market demand.

Total Assets

The total assets also exhibit growth overall, beginning at 7,228 million USD and ending at 17,751 million USD. There are fluctuations within the intermediate periods; for instance, a notable jump occurs between January 2022 and April 2022, where assets increase from 10,499 million USD to 12,799 million USD. However, some slight declines are observed as well, for example from July 2022 (13,250 million USD) to October 2022 (12,390 million USD), and again toward the end of the timeline. Despite periodic decreases, the general trend is an increase in asset base, suggesting ongoing investment or acquisition of resources.

Total Asset Turnover

This ratio, which measures the efficiency of asset use to generate revenue, shows some variability but remains within a relatively narrow band. It starts at approximately 0.53 and fluctuates between 0.42 and 0.53 during the periods. Notable dips occur around April 2022 (0.42) coinciding with a sharp increase in assets, implying that asset growth outpaced revenue growth temporarily. In later periods, the ratio generally recovers to around 0.5 or slightly above, indicating moderate stability in asset utilization effectiveness. Overall, the asset turnover suggests that though the asset base is growing, the efficiency in generating revenue per unit of asset is maintained at a reasonably consistent level.

In summary, the data reflects robust revenue growth supported by a growing asset base. Despite some fluctuations in total assets and asset turnover, the company maintains relatively stable efficiency in utilizing its assets to produce income. These trends collectively indicate progressive expansion while managing asset productivity.

The analyzed financial data exhibits several key trends over the reported periods.

Revenues

Revenues have shown a consistent upward trajectory from April 2020 through October 2025. Starting at approximately 1,018 million US dollars in April 2020, the revenues steadily increase each quarter, reaching around 2,432 million US dollars by October 2025. This steady growth indicates a strong sales performance and positive market demand.

Stockholders’ Equity

Stockholders’ equity also displays a general increasing trend over the timeline. Beginning at 2,602 million US dollars in April 2020, it grows significantly to a peak near 9,172 million US dollars in July 2024 before showing a slight decline to around 8,879 million US dollars by October 2025. The growth in equity suggests accumulation of retained earnings and capital inflows, though the late slight downturn may warrant further examination for changes in capital structure or asset valuation.

Equity Turnover

The equity turnover ratio steadily declines from 1.47 in April 2020 to a low near 0.90 by January 2024, indicating that revenues generated per unit of stockholders' equity have diminished over this period. After January 2024, a modest recovery is observed, with the ratio rising gradually to 1.04 by October 2025. This pattern suggests initial decreasing efficiency in utilizing equity to generate revenues, followed by a partial improvement toward the later periods.

Overall, the company exhibits strong revenue growth alongside an expanding equity base, while the pattern in equity turnover reveals fluctuating efficiency in equity utilization. The later partial recovery in the equity turnover might indicate strategic adjustments improving asset or equity productivity.