Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)
P to FCFE Ratio, Current
P to FCFE Ratio, Historical

Free Cash Flow to Equity (FCFE)

Workday Inc., FCFE calculation

US$ in millions

12 months ended:	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Net income (loss)	526)	1,381)	(367)	29)	(282)	(481)
Net noncash charges	2,153)	802)	1,976)	1,513)	1,537)	1,313)
Changes in operating assets and liabilities, net of business combinations	(218)	(34)	48)	108)	14)	32)
Net cash provided by operating activities	2,461)	2,149)	1,657)	1,651)	1,268)	865)
Capital expenditures	(269)	(232)	(364)	(436)	(259)	(343)
Purchase of other intangible assets	(3)	(10)	(1)	(8)	(3)	(1)
Proceeds from issuance of debt, net of debt discount	—)	—)	2,978)	—)	748)	—)
Repayments and extinguishment of debt	—)	—)	(1,844)	(38)	(269)	—)
Payments for debt issuance costs	—)	—)	(7)	—)	—)	—)
Free cash flow to equity (FCFE)	2,189)	1,907)	2,420)	1,169)	1,485)	521)

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).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Workday Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Workday Inc. FCFE decreased from 2023 to 2024 but then increased from 2024 to 2025 not reaching 2023 level.

Price to FCFE Ratio, Current

Workday Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	266,000,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)	2,189)
FCFE per share	8.23
Current share price (P)	242.93
Valuation Ratio
P/FCFE	29.52
Benchmarks
P/FCFE, Competitors¹
Accenture PLC	21.72
Adobe Inc.	19.13
Cadence Design Systems Inc.	21.83
CrowdStrike Holdings Inc.	76.54
International Business Machines Corp.	20.18
Intuit Inc.	36.09
Microsoft Corp.	37.89
Oracle Corp.	49.67
Palantir Technologies Inc.	160.40
Palo Alto Networks Inc.	57.31
Salesforce Inc.	24.58
ServiceNow Inc.	49.34
Synopsys Inc.	55.08
P/FCFE, Sector
Software & Services	36.12
P/FCFE, Industry
Information Technology	37.00

Based on: 10-K (reporting date: 2025-01-31).

¹ Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Workday Inc., historical P/FCFE calculation, comparison to benchmarks

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
No. shares of common stock outstanding¹	266,000,000	264,000,000	259,000,000	251,000,000	243,000,000	232,000,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)²	2,189)	1,907)	2,420)	1,169)	1,485)	521)
FCFE per share³	8.23	7.22	9.34	4.66	6.11	2.24
Share price^1, 4	242.93	264.32	184.93	229.05	247.96	166.56
Valuation Ratio
P/FCFE⁵	29.52	36.59	19.79	49.17	40.57	74.21
Benchmarks
P/FCFE, Competitors⁶
Accenture PLC	—	23.91	21.01	17.87	25.76	19.01
Adobe Inc.	—	18.02	41.83	21.32	34.26	41.36
Cadence Design Systems Inc.	—	24.08	71.40	33.41	36.31	45.86
CrowdStrike Holdings Inc.	71.69	85.82	42.65	99.63	41.38	880.68
International Business Machines Corp.	—	20.90	9.97	11.97	48.45	9.43
Intuit Inc.	—	38.43	38.74	13.86	86.74	17.36
Microsoft Corp.	—	42.11	43.32	36.73	42.54	42.74
Oracle Corp.	—	48.38	15.47	—	8.36	6.27
Palantir Technologies Inc.	—	256.11	74.28	96.89	198.12	—
Palo Alto Networks Inc.	—	52.90	79.75	29.54	32.91	8.11
Salesforce Inc.	25.91	38.33	31.06	16.56	49.52	50.40
ServiceNow Inc.	—	61.82	58.19	44.44	64.54	49.83
Synopsys Inc.	—	63.08	57.04	33.41	40.55	45.07
P/FCFE, Sector
Software & Services	—	39.88	32.80	31.06	33.87	26.71
P/FCFE, Industry
Information Technology	—	36.62	33.19	26.96	27.33	23.40

¹ Data adjusted for splits and stock dividends.

² See details »

³ 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 2,189,000,000 ÷ 266,000,000 = 8.23

⁴ Closing price as at the filing date of Workday Inc. Annual Report.

⁵ 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= 242.93 ÷ 8.23 = 29.52

⁶ Click competitor name to see calculations.

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Valuation ratio	Description	The company
P/FCFE	Price to free cash flow to equity is cash valuation indicator of stockholders’ equity.	Workday Inc. P/FCFE ratio increased from 2023 to 2024 but then slightly decreased from 2024 to 2025.

Workday Inc. (NASDAQ:WDAY)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical