---
title: Workday (WDAY) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/wday
ticker: WDAY
as_of: 2026-10-17
sector: Technology
industry: Software - Application
---
# Workday (WDAY)

Workday (WDAY) closed at $190.81 on Oct 16, 2026, overvalued by 339% vs its model value of $43.46 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $190.81 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $43.46 |
| Price vs model | overvalued by 339% vs model |
| Range of that model | $26.52 – $99.96 |
| Market value | $46.0B |
| P/E (fiscal 2026) | 73.7 |
| Net margin (fiscal 2026) | 7.3% |
| Free cash flow (fiscal 2026) | $2.8B |
| Dividend yield (trailing twelve months) | 0.00% |
| Beta | 1.07 |
| Cost of capital (WACC) | 9.07% |
| Business classification | Profitable Growth (Moderate growth (~15% recent), Moderate margins (7% net margin), Highly cyclical earnings, Strong FCF yield (6.0%)) |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $43.46 | $26.52 | $99.96 |
| DCF · Perpetuity growth · 10y | cross check | $53.54 | $33.33 | $120.40 |
| DCF · EBITDA exit · 5y | cross check | $75.20 | $54.12 | $99.94 |
| DCF · EBITDA exit · 10y | cross check | $82.22 | $56.50 | $116.33 |
| P/E · peers | cross check | $164.70 | $155.92 | $309.22 |
| P/E · own history | cross check | $287.72 | $130.80 | $3,061.38 |
| PEG | sanity check | $277.17 | $277.17 | $277.17 |
| EV/EBITDA · peers | cross check | $59.93 | $53.83 | $90.69 |
| EV/Revenue · peers | cross check | $153.01 | $127.69 | $178.79 |
| Earnings power value | cross check | $0.00 | $0.00 | $0.00 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 29 open-market sales ($41.1M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 12, 2026 | Garfield Mark S. | Chief Accounting Officer | Open-market sell (10b5-1 plan) | 918 | $173,915.1 |
| Oct 9, 2026 | DUFFIELD DAVID A | 10% Owner | Open-market sell (10b5-1 plan) | 1,502 | $286,825.4 |
| Oct 9, 2026 | DUFFIELD DAVID A | 10% Owner | Open-market sell (10b5-1 plan) | 10,472 | $2.0M |
| Oct 9, 2026 | DUFFIELD DAVID A | 10% Owner | Open-market sell (10b5-1 plan) | 12,732 | $2.4M |
| Oct 9, 2026 | DUFFIELD DAVID A | 10% Owner | Open-market sell (10b5-1 plan) | 14,228 | $2.7M |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 13, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1327811/000132781126000051/wday-20261012.htm |
| Oct 1, 2026 | 8-K | 1.01 Entry into a Material Agreement; 1.02 Termination of a Material Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1327811/000110465926112898/tm2626731d2_8k.htm |
| Sep 29, 2026 | 8-K | 2.02 Results of Operations (Earnings); 2.05 Costs of Exit or Disposal | https://www.sec.gov/Archives/edgar/data/1327811/000132781126000048/wday-20260929.htm |
| Aug 27, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1327811/000132781126000044/wday-20260731.htm |
| Aug 27, 2026 | 8-K | 2.02 Results of Operations (Earnings); 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1327811/000132781126000042/wday-20260827.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| First Eagle | 2026-06-30 | 8,824,517 | $1.1B |
| Richard Pzena | 2026-06-30 | 1,971,270 | $241.3M |
| Bill Nygren | 2026-06-30 | 192,764 | $23.6M |
| Arnold Van Den Berg | 2026-06-30 | 48,837 | $6.0M |

5 tracked managers in all.

## About

Workday, Inc. delivers comprehensive, cloud-hosted enterprise software solutions to clients worldwide. These platforms empower organizations to strategize, operate, examine performance, integrate with existing systems, and oversee their overall business functions. A core offering includes a robust suite of financial management tools. These are designed to assist Chief Financial Officers (CFOs) in meticulously maintaining general ledger accounting data, streamlining financial workflows, gaining instant insights into financial and operational metrics, optimizing consolidation, accelerating month-end closes, bolstering internal controls and audit readiness, and ensuring uniformity throughout their financial activities. Workday also provides cloud-based spend management solutions. These facilitate smoother supplier engagement and contract administration, optimize the handling of indirect exp…

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Source: https://sweetvaluelab.com/stocks/wday (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.