Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Workday Inc., adjusted financial ratios

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Activity Ratio
Total Asset Turnover
Reported	0.47	0.44	0.46	0.49	0.50	0.53
Adjusted	0.52	0.50	0.49	0.54	0.53	0.58
Liquidity Ratio
Current Ratio
Reported	1.90	1.97	1.75	1.03	1.12	1.04
Adjusted	9.76	9.97	7.59	2.67	2.79	4.16
Solvency Ratios
Debt to Equity
Reported	0.33	0.37	0.53	0.41	0.55	0.51
Adjusted	0.27	0.30	0.35	0.27	0.38	0.33
Debt to Capital
Reported	0.25	0.27	0.35	0.29	0.35	0.34
Adjusted	0.21	0.23	0.26	0.21	0.27	0.25
Financial Leverage
Reported	1.99	2.04	2.41	2.31	2.66	2.74
Adjusted	1.34	1.38	1.46	1.36	1.47	1.42
Profitability Ratios
Net Profit Margin
Reported	6.23%	19.02%	-5.90%	0.57%	-6.54%	-13.25%
Adjusted	12.37%	10.11%	1.85%	10.78%	-0.63%	-2.65%
Return on Equity (ROE)
Reported	5.82%	17.09%	-6.57%	0.65%	-8.62%	-19.33%
Adjusted	8.70%	7.03%	1.34%	7.94%	-0.50%	-2.20%
Return on Assets (ROA)
Reported	2.93%	8.39%	-2.72%	0.28%	-3.24%	-7.05%
Adjusted	6.47%	5.09%	0.91%	5.84%	-0.34%	-1.55%

Based on: 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), 10-K (reporting date: 2020-01-31).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Workday Inc. adjusted total asset turnover ratio improved from 2023 to 2024 and from 2024 to 2025.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Workday Inc. adjusted current ratio improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Workday Inc. adjusted debt-to-equity ratio improved from 2023 to 2024 and from 2024 to 2025.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Workday Inc. adjusted debt-to-capital ratio improved from 2023 to 2024 and from 2024 to 2025.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Workday Inc. adjusted financial leverage ratio decreased from 2023 to 2024 and from 2024 to 2025.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Workday Inc. adjusted net profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Workday Inc. adjusted ROE improved from 2023 to 2024 and from 2024 to 2025.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Workday Inc. adjusted ROA improved from 2023 to 2024 and from 2024 to 2025.

Workday Inc., Financial Ratios: Reported vs. Adjusted

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	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Revenues	8,446)	7,259)	6,216)	5,139)	4,318)	3,627)
Total assets	17,977)	16,452)	13,486)	10,499)	8,718)	6,816)
Activity Ratio
Total asset turnover¹	0.47	0.44	0.46	0.49	0.50	0.53
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenues²	8,866)	7,752)	6,667)	5,685)	4,646)	3,987)
Adjusted total assets³	16,948)	15,398)	13,482)	10,498)	8,723)	6,816)
Activity Ratio
Adjusted total asset turnover⁴	0.52	0.50	0.49	0.54	0.53	0.58

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
Total asset turnover = Revenues ÷ Total assets
= 8,446 ÷ 17,977 = 0.47

² Adjusted revenues. See details »

³ Adjusted total assets. See details »

⁴ 2025 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= 8,866 ÷ 16,948 = 0.52

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Workday Inc. adjusted total asset turnover ratio improved from 2023 to 2024 and from 2024 to 2025.

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Current assets	10,545)	9,939)	8,108)	5,214)	4,802)	3,095)
Current liabilities	5,548)	5,055)	4,628)	5,068)	4,283)	2,969)
Liquidity Ratio
Current ratio¹	1.90	1.97	1.75	1.03	1.12	1.04
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets²	10,555)	9,950)	8,117)	5,225)	4,816)	3,101)
Adjusted current liabilities³	1,081)	998)	1,069)	1,957)	1,726)	746)
Liquidity Ratio
Adjusted current ratio⁴	9.76	9.97	7.59	2.67	2.79	4.16

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 10,545 ÷ 5,548 = 1.90

² Adjusted current assets. See details »

³ Adjusted current liabilities. See details »

⁴ 2025 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 10,555 ÷ 1,081 = 9.76

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Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Workday Inc. adjusted current ratio improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt	2,984)	2,980)	2,976)	1,840)	1,795)	1,262)
Stockholders’ equity	9,034)	8,082)	5,586)	4,535)	3,278)	2,487)
Solvency Ratio
Debt to equity¹	0.33	0.37	0.53	0.41	0.55	0.51
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	3,362)	3,296)	3,249)	2,103)	2,238)	1,570)
Adjusted stockholders’ equity³	12,616)	11,157)	9,217)	7,721)	5,919)	4,797)
Solvency Ratio
Adjusted debt to equity⁴	0.27	0.30	0.35	0.27	0.38	0.33

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 2,984 ÷ 9,034 = 0.33

² Adjusted total debt. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2025 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 3,362 ÷ 12,616 = 0.27

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Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Workday Inc. adjusted debt-to-equity ratio improved from 2023 to 2024 and from 2024 to 2025.

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt	2,984)	2,980)	2,976)	1,840)	1,795)	1,262)
Total capital	12,018)	11,062)	8,562)	6,375)	5,073)	3,749)
Solvency Ratio
Debt to capital¹	0.25	0.27	0.35	0.29	0.35	0.34
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	3,362)	3,296)	3,249)	2,103)	2,238)	1,570)
Adjusted total capital³	15,978)	14,453)	12,466)	9,824)	8,158)	6,366)
Solvency Ratio
Adjusted debt to capital⁴	0.21	0.23	0.26	0.21	0.27	0.25

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
Debt to capital = Total debt ÷ Total capital
= 2,984 ÷ 12,018 = 0.25

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2025 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 3,362 ÷ 15,978 = 0.21

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Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Workday Inc. adjusted debt-to-capital ratio improved from 2023 to 2024 and from 2024 to 2025.

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total assets	17,977)	16,452)	13,486)	10,499)	8,718)	6,816)
Stockholders’ equity	9,034)	8,082)	5,586)	4,535)	3,278)	2,487)
Solvency Ratio
Financial leverage¹	1.99	2.04	2.41	2.31	2.66	2.74
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets²	16,948)	15,398)	13,482)	10,498)	8,723)	6,816)
Adjusted stockholders’ equity³	12,616)	11,157)	9,217)	7,721)	5,919)	4,797)
Solvency Ratio
Adjusted financial leverage⁴	1.34	1.38	1.46	1.36	1.47	1.42

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 17,977 ÷ 9,034 = 1.99

² Adjusted total assets. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2025 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 16,948 ÷ 12,616 = 1.34

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Workday Inc. adjusted financial leverage ratio decreased from 2023 to 2024 and from 2024 to 2025.

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income (loss)	526)	1,381)	(367)	29)	(282)	(481)
Revenues	8,446)	7,259)	6,216)	5,139)	4,318)	3,627)
Profitability Ratio
Net profit margin¹	6.23%	19.02%	-5.90%	0.57%	-6.54%	-13.25%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)²	1,097)	784)	123)	613)	(29)	(106)
Adjusted revenues³	8,866)	7,752)	6,667)	5,685)	4,646)	3,987)
Profitability Ratio
Adjusted net profit margin⁴	12.37%	10.11%	1.85%	10.78%	-0.63%	-2.65%

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
Net profit margin = 100 × Net income (loss) ÷ Revenues
= 100 × 526 ÷ 8,446 = 6.23%

² Adjusted net income (loss). See details »

³ Adjusted revenues. See details »

⁴ 2025 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Adjusted revenues
= 100 × 1,097 ÷ 8,866 = 12.37%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Workday Inc. adjusted net profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income (loss)	526)	1,381)	(367)	29)	(282)	(481)
Stockholders’ equity	9,034)	8,082)	5,586)	4,535)	3,278)	2,487)
Profitability Ratio
ROE¹	5.82%	17.09%	-6.57%	0.65%	-8.62%	-19.33%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)²	1,097)	784)	123)	613)	(29)	(106)
Adjusted stockholders’ equity³	12,616)	11,157)	9,217)	7,721)	5,919)	4,797)
Profitability Ratio
Adjusted ROE⁴	8.70%	7.03%	1.34%	7.94%	-0.50%	-2.20%

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 526 ÷ 9,034 = 5.82%

² Adjusted net income (loss). See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2025 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × 1,097 ÷ 12,616 = 8.70%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Workday Inc. adjusted ROE improved from 2023 to 2024 and from 2024 to 2025.

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income (loss)	526)	1,381)	(367)	29)	(282)	(481)
Total assets	17,977)	16,452)	13,486)	10,499)	8,718)	6,816)
Profitability Ratio
ROA¹	2.93%	8.39%	-2.72%	0.28%	-3.24%	-7.05%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)²	1,097)	784)	123)	613)	(29)	(106)
Adjusted total assets³	16,948)	15,398)	13,482)	10,498)	8,723)	6,816)
Profitability Ratio
Adjusted ROA⁴	6.47%	5.09%	0.91%	5.84%	-0.34%	-1.55%

Based on: 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), 10-K (reporting date: 2020-01-31).

¹ 2025 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 526 ÷ 17,977 = 2.93%

² Adjusted net income (loss). See details »

³ Adjusted total assets. See details »

⁴ 2025 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 1,097 ÷ 16,948 = 6.47%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Workday Inc. adjusted ROA improved from 2023 to 2024 and from 2024 to 2025.

Workday Inc. (NASDAQ:WDAY)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

Workday Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)