Company Valuation: Workday, Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 63,252 46,630 76,551 69,708 46,191 46,364 - -
Change - -26.28% 64.17% -8.94% -33.74% 0.37% - -
Enterprise Value (EV) 1 61,448 43,485 71,718 64,675 43,735 44,681 41,537 38,473
Change - -29.23% 64.93% -9.82% -32.38% 2.16% -7.04% -7.38%
P/E 2,108x -126x 55.9x 134x 67.8x 33.6x 31.1x 25x
PBR 14.2x 8.28x 9.55x 7.69x 5.97x 7.22x 5.15x 3.8x
PEG - 0x -0x -2.1x 2.1x 0x 3.97x 1x
Capitalization / Revenue 12.3x 7.5x 10.5x 8.25x 4.84x 4.35x 3.93x 3.56x
EV / Revenue 12x 7x 9.88x 7.66x 4.58x 4.19x 3.53x 2.95x
EV / EBITDA 41.1x 27.6x 35.5x 25.7x 13.8x 12.5x 10x 8.19x
EV / EBIT 53.4x 35.9x 41.2x 29.6x 15.5x 13.5x 10.7x 8.64x
EV / FCF 44.3x 33.5x 37.4x 29.5x 15.7x 14.1x 11.4x 9.21x
FCF Yield 2.26% 2.98% 2.67% 3.39% 6.35% 7.07% 8.79% 10.9%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.12 -1.44 5.21 1.95 2.59 5.729 6.178 7.689
Distribution rate - - - - - - - -
Net sales 1 5,139 6,216 7,259 8,446 9,552 10,667 11,783 13,030
EBITDA 1 1,493 1,574 2,022 2,512 3,171 3,578 4,148 4,699
EBIT 1 1,150 1,210 1,740 2,186 2,824 3,312 3,883 4,453
Net income 1 29.37 -366.7 1,381 526 693 1,399 1,554 2,028
Net Debt 1 -1,804 -3,145 -4,833 -5,033 -2,456 -1,683 -4,826 -7,891
Reference price 2 253.01 181.43 291.07 262.06 175.63 192.38 192.38 192.38
Nbr of stocks (in thousands) 250,000 257,016 263,000 266,000 263,000 241,000 - -
Announcement Date 2/28/22 2/27/23 2/26/24 2/25/25 2/24/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.12x12.85x15.31x-.--% 105B
13.19x3.51x7.33x-.--% 93.68B
25.6x5.24x12.67x-.--% 45.39B
33.58x4.19x12.49x-.--% 46.36B
14.58x5.35x13.65x0.98% 36.23B
15.77x6.08x12.43x-.--% 15.23B
23.15x2.35x13.53x-.--% 13.05B
24.82x - - 3.92% 9.86B
55.74x3.37x13.77x-.--% 6.99B
Average 25.17x 5.37x 12.65x 0.54% 41.37B
Weighted average by Cap. 20.91x 6.78x 12.18x 0.2%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield