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Workday (WDAY) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Aug 27, 2026 · Workday (WDAY) Q2 FY27 earnings results →

Q2 FY27 Revenue up 13% year over year to $2.6B · 24¢ of every $1 of revenue kept as net profit · operating margin 11.8%

Workday made $2.6B in Q2 FY27 (+13% Y/Y): Subscription services $2.5B, Professional Services $178M. Operating margin 11.8%, net earnings $632M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 27, 2026.

Revenue$2.6B
Year over year+13%
Operating margin11.8%
Net earnings$632M
Operating cash flow$519M

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Workday Q2 FY27 revenue breakdown: Sankey diagram of revenue (Subscription services, Professional Services), costs, profit and cash flow
Workday Q2 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.6B in Q2 FY27, up 13% year over year and up 4% from the previous quarter. Subscription services was the largest line at 93% of revenue. Subscription services added $0.30B year over year (up 14%), 100% of the total change. Professional Services declined 1%.

Operating profit was $0.31B, a 11.8% margin (up 1.3 points year over year). Of the extra revenue versus Q2 FY26, 22% reached operating profit, above the 11% margin then. Total costs grew 11% against revenue growth of 13%. The fastest-growing cost line was Research & development (+13%). Net earnings were $0.63B, up 177% year over year. The effective tax rate was -93.3%.

Operating cash flow was $0.52B (down 16% year over year), 82% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.46B of share-based compensation. Working capital and other items used $0.67B. Capital expenditures of $0.06B left free cash flow of $0.46B.

Quarterly history

Workday revenue by quarterWorkday revenue by quarter$2.2BQ4 FY25$2.2BQ1 FY26$2.3BQ2 FY26$2.4BQ3 FY26$2.5BQ4 FY26$2.5BQ1 FY27$2.6BQ2 FY27
Workday net earnings by quarterWorkday net earnings by quarter$94.0MQ4 FY25$68.0MQ1 FY26$228MQ2 FY26$252MQ3 FY26$145MQ4 FY26$222MQ1 FY27$632MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QAug 27, 2026$2.6B+13%11.8%$632M$519M
Q1 FY2710-QMay 22, 2026$2.5B+14%13.3%$222M$696M
Q4 FY2610-KMar 6, 2026$2.5B+14%6.9%$145M$1.3B
Q3 FY2610-QNov 26, 2025$2.4B+13%10.6%$252M$588M
Q2 FY2610-QAug 22, 2025$2.3B+13%10.6%$228M$616M
Q1 FY2610-QMay 23, 2025$2.2B+13%1.7%$68.0M$457M
Q4 FY2510-KMar 11, 2025$2.2B+15%3.4%$94.0M$1.1B

Charts

Workday: revenue growth, year over year and quarter over quarterWorkday: revenue growth, year over year and quarter over quarterY/YQ/Q+15%Q4 FY25+13%+1%Q1 FY26+13%+5%Q2 FY26+13%+4%Q3 FY26+14%+4%Q4 FY26+14%+0%Q1 FY27+13%+4%Q2 FY27
Latest (Q2 FY27): Y/Y +13%, Q/Q +4%.
Workday: where the cash came from (+) and went (−), TTM to Q2 FY27Workday: where the cash came from (+) and went (−), TTM to Q2 FY27Buybacks−$5.2BOperating cash flow$3.1BOther investing$2.1BCash drawn (+) / kept (−)$601MTaxes on employees’ shares−$517MCapital spending−$237MShares issued$179M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Workday: profit against cash, quarter by quarterWorkday: profit against cash, quarter by quarterNet incomeOperating cash flow$193M$406MQ3 FY25$94.0M$1.1BQ4 FY25$68.0M$457MQ1 FY26$228M$616MQ2 FY26$252M$588MQ3 FY26$145M$1.3BQ4 FY26$222M$696MQ1 FY27$632M$519MQ2 FY27
Latest (Q2 FY27): Net income $632M, Operating cash flow $519M.
Workday: diluted shares by fiscal yearWorkday: diluted shares by fiscal year237MFY21254MFY22255MFY23265MFY24269MFY25268MFY26
+13.1% since FY21: more shares outstanding (issuance, stock pay).
Workday in its industry: growth against margin (65 companies, SIC 7374)Workday in its industry: growth against margin (65 companies, SIC 7374)revenue growth, year over year →↑ operating marginmedian +9%median -8%ADPDXCTOSTRDDTVRSKRNGPLTKCLVTFAPEGAAPLDFIVNTASKEVTCCARGNRDSHNGELFTORAMPGDRXLZEGHTUPWKCARSIBEXSSTKLIFYEXTTCXINODOOMAHAWKGLOOBRUNFIRYVERIBIRDINFQNXTTQMLSTRAKMOVEQBTSSHAZDTCXSDCHONFOBHICKWIKSEQCPHUNWORXONEICASTDTSTHTCRPWDYPVITMYX Inc.NTCSSTWIRADCCRCWHNITWDAY (+13%, 12%)
Services-Computer Processing & Data Preparation; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Workday

Workday is the enterprise AI platform for managing people, money, and agents. Workday provides more than 11,500 organizations with cloud solutions powered by artificial intelligence (“AI”) to help solve some of today’s most complex business challenges, including supporting and empowering their workforce, managing their finances and spend in an ever-changing environment, and planning for the unexpected. We strive to reimagine how work gets done and hope to empower customers to do the same through an innovative suite of solutions with more than 75 million users under contract around the world and across industries – from emerging and medium-sized businesses to more than 65% of the Fortune 500. Central to our purpose is a set of core values – with our employees as number one – along with customer service, innovation, integrity, fun, and profitability.

In its own words, from its 10-K, filed Mar 6, 2026.

Workday against its Services-Computer Processing & Data Preparation peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +6%. Operating margin: 11.8% against the peers' median 11.8%.

CompanyQuarterRevenueY/YOp. margin
WDAY WorkdayQ2 FY27$2.6B+13%11.8%
ADP Automatic Data ProcessingQ1 FY27$5.5B+6%23.9%
DXC DXC TechnologyQ2 FY27$3.0B-4%6.2%
TOST ToastQ3 2026$2.0B+21%8.3%
RDDT RedditQ3 2026$895M+53%29.2%
VRSK Verisk AnalyticsQ3 2026$809M+5%45.2%
RNG RingCentralQ3 2026$676M+6%8.0%
PLTK Playtika HoldingQ3 2026$674M-0.1%17.2%
CLVT ClarivateQ3 2026$482M-9%8.3%

Source: Workday 10-Q on SEC EDGAR · CIK 1327811 · Services-Computer Processing & Data Preparation

13F: who owns WDAY and who is buying

Largest holders of WDAY (13F)Largest holders of WDAY (13F)Vanguard Group$5.4BBlackRock$2.6BFirst Eagle Investment Management…$2.2BVanguard Capital Management LLC$1.6BHotchkis & Wiley Capital Manageme…$1.6BEagle Capital Management LLC$1.4BVanguard Portfolio Management LLC$1.4BState Street$1.2BInvesco$997MGeode Capital Management, LLC$722M
Funds' net buying of WDAY by quarter (13F)Funds' net buying of WDAY by quarter (13F)−$122M2024-09$180M2024-12−$388M2025-03$96.3M2025-06$1.3B2025-09$876M2025-12−$197M2026-03$1.7B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on WDAY

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：Workday（WDAY）财报

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