Enterprise Value (EV)
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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: 2026-01-31).
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: 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Workday Inc. Annual Report.
3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The information presents a fluctuating pattern in enterprise value alongside related equity and debt figures over a six-year period. Enterprise value demonstrates an initial decline, followed by recovery, and then a subsequent decrease.
- Enterprise Value Trend
- Enterprise value began at US$58.514 billion in 2021, decreased to US$55.687 billion in 2022, and continued to fall to US$44.751 billion in 2023. A significant increase was observed in 2024, reaching US$64.947 billion. However, this was followed by a decrease to US$59.586 billion in 2025 and a more substantial decline to US$36.361 billion in 2026.
- Equity and Debt Relationship
- Total equity and debt generally mirrored the trend in enterprise value. It started at US$62.049 billion in 2021, decreased to US$59.331 billion in 2022, and reached US$50.873 billion in 2023. A similar increase to US$72.760 billion occurred in 2024, followed by a decrease to US$67.603 billion in 2025 and US$41.804 billion in 2026. The values for total equity and common equity were identical across all periods, suggesting no other equity components were present.
- Market Value of Equity
- The market value of common equity exhibited a similar pattern to enterprise value and total equity. It decreased from US$60.254 billion in 2021 to US$47.897 billion in 2023, increased to US$69.780 billion in 2024, decreased to US$64.619 billion in 2025, and then significantly decreased to US$38.817 billion in 2026.
The most pronounced changes occurred between 2025 and 2026, with substantial declines observed in both enterprise value and the market value of common equity. The increase in enterprise value in 2024 was notable, but not sustained into subsequent periods. The consistency between total equity and common equity values suggests a relatively simple capital structure throughout the observed timeframe.