Enterprise Value (EV)
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Workday Inc. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Net Profit Margin since 2013
- Operating Profit Margin since 2013
- Current Ratio since 2013
- Price to Earnings (P/E) since 2013
- Price to Operating Profit (P/OP) since 2013
- Price to Sales (P/S) since 2013
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Current Enterprise Value (EV)
Workday Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.001 par value; no shares issued or outstanding (per books) | |
| Total equity | |
| Add: Debt, current (per books) | |
| Add: Debt, noncurrent (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-01-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Workday Inc., EV calculation
Based on: 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).
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
= ×
- Common Equity and Total Equity
- The values for common equity and total equity are identical across all periods, suggesting no preferred stock or other equity classes are outstanding. There was a significant increase from 38,642 million USD in January 2020 to 60,254 million USD in January 2021, indicating strong growth within that year. However, this was followed by a decline to 57,492 million USD in January 2022 and a sharper drop to 47,897 million USD in January 2023. Subsequently, equity rebounded substantially to 69,780 million USD in January 2024, then decreased again to 64,619 million USD by January 2025. This pattern highlights considerable volatility in equity values over the five-year span.
- Total Equity and Debt
- The combined figure of total equity and debt rose from 39,904 million USD in January 2020 to 62,049 million USD in January 2021, mirroring the equity increase. Similar to equity alone, total equity and debt diminished to 59,331 million USD in January 2022 and further to 50,873 million USD in January 2023. It then surged to a peak of 72,760 million USD in January 2024 before subsiding to 67,603 million USD in January 2025. This fluctuation suggests variations in the company's leverage or capital structure, with debt and equity movements contributing to overall changes.
- Enterprise Value (EV)
- Enterprise value trended somewhat in alignment with other metrics but remained consistently lower than total equity and debt throughout the period, indicating that market perceptions or adjustments related to cash and debt likely influenced the EV calculation. Starting at 37,960 million USD in January 2020, EV increased to 58,514 million USD in January 2021, then fell steadily to 55,687 million USD in January 2022 and further to 44,751 million USD in January 2023. Thereafter, EV ascended again to 64,947 million USD in January 2024 before receding to 59,586 million USD by January 2025. The volatility in EV reflects changing market valuations and possibly variations in enterprise-level financial parameters.
- Overall Trends
- The data reveals notable volatility in equity, total capital, and enterprise value over the six-year period. There is an evident peak around 2021 followed by a decline through early 2023, succeeded by a recovery in 2024, and a moderate decrease in 2025. These fluctuations may result from market conditions, operational performance, capital structure adjustments, or investor sentiment shifts. The parallel patterns among these figures imply a relationship between the company's reported financial position and market valuation dynamics.