Workday - owner earnings plus net cash

Assumptions as of 2026-08-16

USD

Updated Aug 16, 2026 · Revised 1 time

as of 2026-08-16

Fair value per share

$73.30

Upside to market

-63.1%

Net cash per share

$5.25

Justified multiple of owner earnings

15.4

Annual relative growth decay

4.0%

Discount rate

10.0%

Entry growth

13.0%

FCF margin (OCF less capex)

29.1%

GAAP gross margin

75.7%

Cash and securities less total debt

1,365.00$M

Market price

$198.68

FY2026 revenue (ended 2026-01-31)

9,552.00$M

SBC as pct of revenue

17.0%

Diluted shares

260.00M

Terminal multiple cap

18.00

Total multiple cap

45.00

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