Workday, Inc. WDAY
Bought back $2.9B of its own shares, 1.8× what it paid in stock
XBRL, latest 10-KNew shares against shares bought back
Dilution: new shares, stock pay and buybacks · S-3 and 424B, 3 years; 10-K
Shares offered
Since Nov 15, 2023: 1 shelf registration; also 1 notes offering.
- May 29, 2026 Shelf registration: shares and other securities, amount not fixed S-3ASR
Every offering filing“We may offer from time to time Class A common stock, preferred stock, debt securities, or warrants in one or more offerings.”
S-3ASR, May 29, 2026
Diluted shares: 268.12M in the year to Jan 31, 2026 2026 -0.4%2025 +1.5%2024 +4.1%2023 +0.3%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. How
Where the cash came from and where it went
FY2017 to FY2026, from the cash flow statements in the 10-Ks, added up
The same cash, step by step
Came from
| Operating cash flow NetCashProvidedByUsedInOperatingActivities, 0001327811-19-000038; NetCashProvidedByUsedInOperatingActivities, 0001327811-20-000022; NetCashProvidedByUsedInOperatingActivities, 0001327811-21-000020; NetCashProvidedByUsedInOperatingActivities, 0001327811-22-000030; NetCashProvidedByUsedInOperatingActivities, 0001327811-23-000024; NetCashProvidedByUsedInOperatingActivities, 0001327811-24-000044; NetCashProvidedByUsedInOperatingActivities, 0001327811-25-000056; NetCashProvidedByUsedInOperatingActivities, 0001327811-26-000014 |
$14.4B |
| Debt raised ProceedsFromIssuanceOfLongTermDebt, 0001327811-24-000044; ProceedsFromIssuanceOfLongTermDebt, 0001327811-25-000056 |
$3.0B |
Went to
| Capital spending PaymentsToAcquireProductiveAssets, 0001327811-19-000038; PaymentsToAcquirePropertyPlantAndEquipment, 0001327811-25-000056; PaymentsToAcquirePropertyPlantAndEquipment, 0001327811-26-000014 |
$1.5B |
| Acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-19-000038; PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-20-000022; PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-21-000020; PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-22-000030; PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-23-000024; PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-24-000044; PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-25-000056; PaymentsToAcquireBusinessesNetOfCashAcquired, 0001327811-26-000014 |
$6.2B |
| Buybacks PaymentsForRepurchaseOfCommonStock, 0001327811-23-000024; PaymentsForRepurchaseOfCommonStock, 0001327811-24-000044; PaymentsForRepurchaseOfCommonStock, 0001327811-25-000056; PaymentsForRepurchaseOfCommonStock, 0001327811-26-000014 |
$4.1B |
| Debt repaid RepaymentsOfDebt, 0001327811-24-000044; RepaymentsOfDebt, 0001327811-25-000056 |
$1.9B |
| Added to cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-19-000038; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-20-000022; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-21-000020; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-22-000030; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-23-000024; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-24-000044; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-25-000056; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001327811-26-000014 |
$1.2B |
| Other, net investments bought and sold, other financing and investing lines, and exchange rates |
$2.5B |
Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.
Where the operating cash went, year by year
FY2017 to FY2026 · cash flow statements, 10-K XBRL
| Fiscal year | Operating cash | Capital spending | Acquisitions | Buybacks | Debt repaid |
|---|---|---|---|---|---|
| Jan 31, 2026 | $2.9B | $162.0M | $2.1B | $2.9B | - |
| Jan 31, 2025 | $2.5B | $269.0M | $825.0M | $700.0M | - |
| Jan 31, 2024 | $2.1B | $232.0M | $8.0M | $423.0M | - |
| Jan 31, 2023 | $1.7B | $364.0M | - | $75.0M | $1.8B |
| Jan 31, 2022 | $1.7B | - | $1.2B | - | $38.0M |
| Jan 31, 2021 | $1.3B | - | - | - | - |
| Jan 31, 2020 | $864.6M | - | $473.6M | - | - |
| Jan 31, 2019 | $606.7M | $202.5M | $1.5B | - | - |
| Jan 31, 2018 | $465.7M | $141.5M | $5.7M | - | - |
| Jan 31, 2017 | $350.6M | $120.8M | $147.9M | - | - |
| Added up | $14.4B | $1.5B 10% of operating cash | $6.2B 43% of operating cash | $4.1B 28% of operating cash | $1.9B 13% of operating cash |
Each bar is one fiscal year; its colours add up to what the cash flow statement says the company spent on each line, and the line across it is that year's operating cash flow. Spending above the line was paid from new debt, shares sold or cash on hand. A bar part links to the 10-K it comes from. A line the company did not report is left out, not estimated, so the shares are of operating cash only and can add up to more or less than 100%. Debt repaid is the gross amount, so refinanced debt is counted each time it is repaid. A reading aid, not a grade: Tickdelta does not say whether a split was good. Banks and insurers are left out.
Buybacks, dividends and share count
Year by year · XBRL, each 10-K
| Fiscal year to | Buybacks | Dividends | Diluted shares |
|---|---|---|---|
| Jan 31, 2026 | $2.9B | - | 268.12M |
| Jan 31, 2025 | $700.0M | - | 269.20M |
| Jan 31, 2024 | $423.0M | - | 265.29M |
| Jan 31, 2023 | $75.0M | - | 254.82M |
| Jan 31, 2022 | $0 | - | 254.03M |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.
Buybacks month by month, and what is left to buy
Share buybacks · 10-Q, Part II Item 2, latest 4 quarters
“In September 2025, our Board of Directors authorized the repurchase of up to $4.0 billion of our outstanding shares of Class A common stock.”
10-Q, Part II Item 2
Spent each month (shares × average price)
| Month | Shares bought | Average price |
|---|---|---|
| Jul 2026 | 3,708,000 | $141.56 |
| Jun 2026 | 4,005,000 | $130.31 |
| May 2026 | 2,070,000 | $125.64 |
| Apr 2026 | 3,357,000 | $121.22 |
| Mar 2026 | 6,974,000 | $135.65 |
| Feb 2026 | 1,694,000 | $145.80 |
| Oct 2025 | 686,000 | $235.70 |
| Sep 2025 | 2,410,000 | $240.76 |
| Aug 2025 | 271,000 | $224.18 |
| Jul 2025 | 268,000 | $234.95 |
| Jun 2025 | 597,000 | $246.78 |
| May 2025 | 351,000 | $251.64 |
Shares and average price are the numbers in the 10-Q table, row by row; "shares × price" is our multiplication of the two. A row with a price of "-" is an accelerated repurchase paid up front, where the 10-Q does not give a price yet. A 10-Q that counts shares in millions gives a rounded number, shown as "about". Shares withheld for employees' taxes are not in this table. A month that no 10-Q table gives, or that this page could not read with confidence, is not shown.
What the 10-Ks show for each CEO's years
Each CEO's years · the CEO of each fiscal year as named in the proxy's pay versus performance table
Carl Eschenbach
- Operating cash flow
- $2.9B
- Capital spending
- $162.0M
- Acquisitions
- $2.1B
- Buybacks
- $2.9B
- Stock-based pay
- $1.6B
- Diluted shares since FY2025
- -0.4%
- Revenue since FY2025
- +13%
- Debt since FY2025
- +$3.0M
Sources
The cash flow statement, dividends per share and diluted share count in each 10-K's XBRL; Part II Item 2 of each 10-Q for monthly buybacks; offering prospectuses (S-3, 424B) for new shares; Form D data sets for private raises.
Also
CEO pay: what the CEO was paid over the same years.
Work with it
Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/WDAY/export.csv") into a cell.