Workday, Inc.
$40.62B- Market cap
- $43.07B
- Debt
- +$2.99B
- Cash
- −$5.44B
Capital structure 94% equity / 6% debt · EV / Revenue 4.25x · EV / EBITDA 29.95x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2026 · Mkt capMarket cap $43.07B · View financials
Snapshot Sep 4, 4:00 PM ET
FY 2025 ·
Decision snapshot: WDAY stock price at discount vs IONS $195.79 current versus $368.59 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at IONS's multiple
Implied fair value · at WDAY's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: WDAY FY 2026 (ended Jan 31, 2026) · IONS FY 2025 (ended Dec 31, 2025). Fiscal years are not aligned.
Trendline
Six fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 94% equity / 6% debt · EV / Revenue 4.25x · EV / EBITDA 29.95x
Capital structure 81% equity / 19% debt · EV / Revenue 9.77x
WDAY carries the larger enterprise value at $40.62B against $9.22B; WDAY trades on the lower EV / Revenue multiple (4.25x vs 9.77x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
WORKDAY, INC. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Ionis Pharmaceuticals, Inc. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.38x
4.59x
Net debt / EBITDA
Leverage against operating earnings
-1.81x
1.34x
Cash and equivalents
Liquid reserves on the balance sheet
$5.44B
$2.68B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
Salesforce, Inc.
WDAY vs CRM
Oracle Corporation
WDAY vs ORCL
INTUIT INC.
WDAY vs INTU
AUTOMATIC DATA PROCESSING INC
WDAY vs ADP
Paycom Software, Inc.
WDAY vs PAYC
Sarepta Therapeutics, Inc.
WDAY vs SRPT
Moderna, Inc.
WDAY vs MRNA
Natera, Inc.
WDAY vs NTRA
ILLUMINA, INC.
WDAY vs ILMN
AMGEN INC
WDAY vs AMGN
VERTEX PHARMACEUTICALS INC / MA
WDAY vs VRTX
$2.99B
$2.24B
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
The deterministic comparison remains available. Sign in when you want an on-demand narrative synthesis of the same data.