Workday Inc., current enterprise value calculation

Current share price (P)	$243.39
No. shares of common stock outstanding	266,000,000
US$ in millions
Common equity (market value)¹	64,742)
Add: Preferred stock, $0.001 par value; no shares issued or outstanding (per books)	—)
Total equity	64,742)
Add: Debt, current (per books)	—)
Add: Debt, noncurrent (per books)	2,984)
Total equity and debt	67,726)
Less: Cash and cash equivalents	1,543)
Less: Marketable securities	6,474)
Enterprise value (EV)	59,709)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 243.39 × 266,000,000

Workday Inc., EV calculation

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Share price^1, 2	$242.93	$264.32	$184.93	$229.05	$247.96	$166.56
No. shares of common stock outstanding¹	266,000,000	264,000,000	259,000,000	251,000,000	243,000,000	232,000,000
US$ in millions
Common equity (market value)³	64,619)	69,780)	47,897)	57,492)	60,254)	38,642)
Add: Preferred stock, $0.001 par value; no shares issued or outstanding (book value)	—)	—)	—)	—)	—)	—)
Total equity	64,619)	69,780)	47,897)	57,492)	60,254)	38,642)
Add: Debt, current (book value)	—)	—)	—)	1,222)	1,103)	244)
Add: Debt, noncurrent (book value)	2,984)	2,980)	2,976)	617)	692)	1,018)
Total equity and debt	67,603)	72,760)	50,873)	59,331)	62,049)	39,904)
Less: Cash and cash equivalents	1,543)	2,012)	1,886)	1,534)	1,384)	731)
Less: Marketable securities	6,474)	5,801)	4,235)	2,110)	2,151)	1,213)
Enterprise value (EV)	59,586)	64,947)	44,751)	55,687)	58,514)	37,960)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Workday Inc. Annual Report.

³ 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 242.93 × 266,000,000

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Workday Inc. EV increased from 2023 to 2024 but then slightly decreased from 2024 to 2025.

Workday Inc. (NASDAQ:WDAY)

Enterprise Value (EV)