Workday Inc (WDAY) fair value: what the stock is really worth
We calculate from audited financials what Workday Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 17, 2026.
How to read this chart
60‑month range $112.50 – $307.21 · fair‑value band $146.81 – $272.66 · the $193.87 price screens below the $209.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 17, 2026.
Workday, Inc. provides enterprise cloud applications in the United States and internationally.
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Workday, Inc. provides enterprise cloud applications in the United States and internationally. The company offers a suite of financial management applications to maintain accounting information; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; perform financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations. It also provides spend management solutions that help organizations to streamline supplier selection and contract management, build and execute sourcing events, such as requests for proposals, and manage indirect spend; expense management solutions to submit and approve expenses; and a suite of human capital management applications that enables HR teams to hire, onboard, pay, develop, reskill, and provide employee experiences. In addition, the company offers planning applications. Further, it provides supply chain and inventory solutions to healthcare organizations; solutions to manage the end-to-end student and faculty lifecycle; Workday Extend for customers and their developers to build custom applications. The company serves the professional and business services, financial services, healthcare, manufacturing, media, education, government, technology, media, retail, and hospitality industries. It sells its solutions through its direct sales organization. The company was formerly known as North Tahoe Power Tools, Inc. and changed its name to Workday, Inc. in July 2005. Workday, Inc. was incorporated in 2005 and is headquartered in Pleasanton, California.
Stock analysis
Workday Inc (WDAY) currently trades at $193.87, while our model-based Fair Value estimate is $209.74, implying the stock looks roughly 7.6% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $220.15 per share, and 7 of the 24 models we run sit above the $193.87 price.
Bear case: the Asset-Based group reads lowest at $26.02, and 17 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $146.81 (bear) to $272.66 (bull), the price of $193.87 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Workday Inc reported revenue of $9.6B in FY2026 versus $5.1B in FY2022, a compound +16.8%/yr. Reported net income was $693M in FY2026, compounding +121.1%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap $51.1B · P/E ratio 45.1 · P/S ratio 3.27 · EPS (TTM) $3.10 · Net margin 7.3% · Return on equity 10.9% · Return on assets (EBIT) 1.3% · Operating margin 13.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (medium confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 25% below its 52-week high and 76% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −16% fair-value upside, at 8%, WDAY screens cheaper than that median.
Fair Value models
Bear $146.81Fair Value $209.74Bull $272.66
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 8 months old). Earnings retained since then ($2.05 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.2%
Revenue growth 16 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+44.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+87.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+87.3%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−6% → 11%
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.8%
Yearly sales growth analysts expect, extended to five years.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Very negative
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 701 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside−51% · Below median
Profitability
Return on equity (TTM)11% · Above median
Return on assets4% · Above median
Net margin (TTM)9% · Above median
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth14% · Above median
Balance sheet
Debt / equity0.38× · Highest 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Workday Inc Fair Value". https://www.fairvalue-calculator.com/stock/WDAY
Frequently asked questions
Is Workday Inc (WDAY) overvalued or undervalued?
As of Sep 17, 2026, our model estimates a fair value of $209.74 versus a price of $193.87, about +8% upside (fairly valued).
What is the fair value of WDAY?
Our model-based fair value for Workday Inc is $209.74 (as of Sep 17, 2026), built from audited fundamentals. The current price: $193.87.
What is the quality score of WDAY?
Workday Inc has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Workday Inc (WDAY)?
Our model-based price target is the fair value of $209.74 (as of Sep 17, 2026) from 24 valuation models. Cautious scenario $146.81, optimistic scenario $272.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Workday Inc stock forecast for 2026?
Our models put fair value at $209.74, about +8% upside versus a price of $193.87 (fairly valued). Cautious scenario $146.81, optimistic scenario $272.66. The calculation is refreshed regularly with new filings.
What is the revenue of Workday Inc (WDAY)?
Workday Inc reported trailing-twelve-month revenue of about $9.9B (latest available figure, as of Sep 17, 2026).
What growth is priced into Workday Inc (WDAY)?
For today's price to be fair in a discounted-cash-flow model, Workday Inc would have to grow free cash flow by +6.9 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.2 % per year. As of Sep 17, 2026.
What discount rate (WACC) does the fair value of WDAY use?
Our models discount Workday Inc at 9.5 %: a base by market capitalisation (large), damped by beta 1.10, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Workday Inc that is +6.9 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Workday Inc (WDAY) delivered so far?
Over the past 5 years revenue at Workday Inc grew +17.2 % a year. The price currently implies +6.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Workday Inc (WDAY) growing?
The median revenue growth in the sector is +8.0 % a year. That is the yardstick for the growth priced into Workday Inc (+6.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Workday Inc (WDAY)?
The free-cash-flow yield on the price is 5.44 %: that much free cash flow Workday Inc produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Workday Inc (WDAY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Workday Inc it is $209.74 per share (as of Sep 17, 2026), against a price of $193.87. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Workday Inc stock overvalued or undervalued in 2026?
As of Sep 17, 2026, WDAY trades below its calculated fair value: price $193.87, fair value $209.74, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WDAY?
No. The price is what the market pays today ($193.87); the fair value is what the company's own numbers justify ($209.74). For Workday Inc the two are $15.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Workday Inc worth?
The market values Workday Inc at about $51.1B (market capitalisation, as of Sep 17, 2026). Per share that is $193.87; our models calculate a fair value of $209.74 per share.
What do the bullish and bearish scenarios say about WDAY?
Our models span a range for Workday Inc: cautious scenario $146.81, base $209.74, optimistic $272.66 per share (as of Sep 17, 2026, price $193.87). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WDAY?
Workday Inc trades at a price-to-earnings ratio of 45.1 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $209.74 is built from several models across several years. Other multiples: PEG 0.6, P/B 4.4, P/S 3.5, EV/EBITDA 23.8.
What is the PEG ratio of WDAY?
The PEG ratio of Workday Inc is 0.57 (P/E divided by earnings growth, as of Sep 17, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Workday Inc (WDAY)?
Balance-sheet figures for Workday Inc (as of Sep 17, 2026): return on equity 10.9%, debt of 0.38 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is WDAY from its 52-week high?
Workday Inc trades at $193.87, about 25% below its 52-week high of $257.09 and 76% above the low of $110.36 (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of $209.74 is for.
Which stocks are comparable to Workday Inc?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Workday Inc stock attractive at the current price?
The data as of Sep 17, 2026: price $193.87, calculated fair value $209.74 (+8%), Quality Score 69/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WDAY calculated?
We run Workday Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $209.74, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Workday Inc currently trades 8 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Workday Inc (WDAY)?
The closing price on Sep 18, 2026 was $193.87. Our model-based fair value is $209.74, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Workday Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($146.81 to $272.66) leaves room in how you read the outcome.
Key figures of Workday Inc
How large is the market capitalisation of Workday Inc (WDAY)?
The market capitalisation of Workday Inc is $51.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Workday Inc (WDAY)?
The price-to-sales ratio of Workday Inc is 3.27 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Workday Inc (WDAY)?
Earnings per share at Workday Inc are $3.10 (price ÷ EPS = P/E 45.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Workday Inc (WDAY)?
The net margin of Workday Inc is 7.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Workday Inc (WDAY)?
The return on equity (ROE) of Workday Inc is 10.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Workday Inc (WDAY)?
On an EBIT basis the return on assets of Workday Inc is 1.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Workday Inc (WDAY)?
The operating margin of Workday Inc is 13.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Workday Inc (WDAY)?
Revenue at Workday Inc is growing +13.5% versus a year earlier (3y avg +15.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Workday Inc (WDAY)?
Earnings per share at Workday Inc are growing +248% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Workday Inc (WDAY) carry?
The net debt of Workday Inc is $2.3B (fiscal year 2026, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Sep 17, 2026