Workday, Inc.
$40.62B- Market cap
- $43.08B
- Debt
- +$2.99B
- Cash
- −$5.44B
Capital structure 94% equity / 6% debt · EV / Revenue 4.25x · EV / EBITDA 29.96x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2026 · Mkt capMarket cap $43.08B · View financials
Snapshot Sep 4, 4:00 PM ET
FY 2026 · Mkt cap
Decision snapshot: WDAY stock price near parity vs VIAV $195.82 current versus $204.25 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 VIAV'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) · VIAV FY 2026 (ended Jun 27, 2026). Fiscal years are not aligned.
Trendline
Five 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 29.96x
Capital structure 97% equity / 3% debt · EV / Revenue 5.40x · EV / EBITDA 66.90x
WDAY carries the larger enterprise value at $40.62B against $8.20B; WDAY trades on the lower EV / Revenue multiple (4.25x vs 5.40x); WDAY on the lower EV / EBITDA (29.96x vs 66.90x).
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.
Viavi Solutions Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
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
0.17x
Net debt / EBITDA
Leverage against operating earnings
-1.81x
-3.30x
Cash and equivalents
Liquid reserves on the balance sheet
$5.44B
$649.80M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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$2.99B
$244.80M
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe WDAY can sustain double-digit revenue growth and preserve its superior margin profile, then a selective long case is reasonable because WDAY is stronger than VIAV on growth, ROIC, and leverage while trading cheaper on P/S and EV/EBITDA; if you rely more on the DCF and historical trading band, then stay neutral because the current price is already above the DCF range and near the upper end of history.
On a P/E basis, WDAY appears deeply undervalued relative to VIAV-implied price, with an implied price of $638.00 versus a current price of $160.34, or 297.9% upside. However, the historical band of $144.31-$176.37 places WDAY near the upper end of its recent trading range, and the DCF range of $37.23-$50.37 is far below the current price, creating a conflicted valuation picture.
Supporting Metrics