Workiva (WK)


Market Price (7/30/2026): $61.47 | Market Cap: $3.5 BilSector: Information Technology | Industry: Application Software

Workiva (WK)


Market Price (7/30/2026): $61.47
Market Cap: $3.5 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%

Megatrend and thematic drivers
Megatrends include Cloud Computing, Sustainable Finance, and Automation & Robotics. Themes include Software as a Service (SaaS), Show more.

Weak multi-year price returns
2Y Excs Rtn is -50%, 3Y Excs Rtn is -102%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -2.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.3%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 115x, P/EPrice/Earnings or Price/(Net Income) is 246x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.9%

Key risks
WK key risks include [1] a significant revenue dependence on the regulatory environment for SEC filings and [2] a consistent history of unprofitability since its inception.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%
1 Megatrend and thematic drivers
Megatrends include Cloud Computing, Sustainable Finance, and Automation & Robotics. Themes include Software as a Service (SaaS), Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -50%, 3Y Excs Rtn is -102%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -2.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.3%
5 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 115x, P/EPrice/Earnings or Price/(Net Income) is 246x
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.9%
8 Key risks
WK key risks include [1] a significant revenue dependence on the regulatory environment for SEC filings and [2] a consistent history of unprofitability since its inception.

WK in ETFs

Weight = WK's share of each fund

VTI0.00%
ITOT0.00%
IWM0.09%
VB0.03%
IWO0.17%
IGV0.11%
ESML0.09%
VTWO0.08%
+6 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/29/2026

Workiva (WK) stock has gained about 5% since 3/31/2026 because of the following key factors:

1. Robust Fiscal Q1 2026 Performance and Upbeat Outlook: Workiva reported strong results for fiscal Q1 2026 (ended March 31, 2026), with GAAP net income of $19 million, a significant improvement from a net loss in the prior year's first quarter. Non-GAAP earnings per share (EPS) of $0.77 significantly surpassed analysts' consensus estimates of $0.66. Total revenue increased 20% year-over-year to $247 million, exceeding analyst expectations. Furthermore, Workiva provided optimistic guidance for fiscal Q2 2026 and raised its full-year 2026 outlook, projecting total revenue between $1.037 billion and $1.041 billion and non-GAAP operating margin of 16.0% to 16.5%.

2. Significant Improvement in Profitability and Operational Efficiency: The company demonstrated substantial operating leverage, with non-GAAP operating margin reaching 18.4% in fiscal Q1 2026, marking a 1,600 basis-point improvement compared to the prior year's first quarter. This improvement was driven by strong execution and disciplined operational management, contributing to a positive free cash flow margin of 10.4% in fiscal Q1 2026, compared to a negative margin in the previous year.

Show more
Updated on 7/29/2026

Workiva (WK) stock has gained about 5% since 3/31/2026 because of the following key factors:

1. Robust Fiscal Q1 2026 Performance and Upbeat Outlook: Workiva reported strong results for fiscal Q1 2026 (ended March 31, 2026), with GAAP net income of $19 million, a significant improvement from a net loss in the prior year's first quarter. Non-GAAP earnings per share (EPS) of $0.77 significantly surpassed analysts' consensus estimates of $0.66. Total revenue increased 20% year-over-year to $247 million, exceeding analyst expectations. Furthermore, Workiva provided optimistic guidance for fiscal Q2 2026 and raised its full-year 2026 outlook, projecting total revenue between $1.037 billion and $1.041 billion and non-GAAP operating margin of 16.0% to 16.5%.

2. Significant Improvement in Profitability and Operational Efficiency: The company demonstrated substantial operating leverage, with non-GAAP operating margin reaching 18.4% in fiscal Q1 2026, marking a 1,600 basis-point improvement compared to the prior year's first quarter. This improvement was driven by strong execution and disciplined operational management, contributing to a positive free cash flow margin of 10.4% in fiscal Q1 2026, compared to a negative margin in the previous year.

3. Strong Customer Acquisition, Retention, and Expansion of Large Contracts: Workiva continued to expand its customer base, reaching 6,665 customers as of March 31, 2026, adding 280 new customers year-over-year. The company maintained a high gross retention rate of 97% and a net retention rate of 112%. Notably, customers with an Annual Contract Value (ACV) of over $100,000 grew 24% year-over-year to 2,575, and those with ACV exceeding $300,000 increased 38% to 605, indicating successful upselling and larger deal sizes.

4. Positive Analyst Sentiment and Shareholder Value Initiatives: Analyst firms generally maintained a positive outlook on Workiva, with many reiterating "Buy" or "Strong Buy" ratings and an average price target of approximately $88.50. Wall Street Zen specifically upgraded Workiva from a "buy" to a "strong-buy" rating in late July 2026. Additionally, Workiva actively returned value to shareholders by repurchasing approximately 763,000 shares for $50 million during fiscal Q1 2026 under its existing share repurchase plan.

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Stock Movement Drivers

Fundamental Drivers

The 3.1% change in WK stock from 3/31/2026 to 7/29/2026 was primarily driven by a 4.6% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120267292026Change
Stock Price ($)59.6361.453.1%
Change Contribution By: 
Total Revenues ($ Mil)8859264.6%
P/S Multiple3.83.8-0.7%
Shares Outstanding (Mil)5657-0.8%
Cumulative Contribution3.1%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/29/2026
ReturnCorrelation
WK3.1% 
Market (SPY)12.2%-20.7%
Sector (XLK)25.3%-28.5%

Fundamental Drivers

The -28.8% change in WK stock from 12/31/2025 to 7/29/2026 was primarily driven by a -34.3% change in the company's P/S Multiple.
(LTM values as of)123120257292026Change
Stock Price ($)86.2561.45-28.8%
Change Contribution By: 
Total Revenues ($ Mil)8469269.5%
P/S Multiple5.73.8-34.3%
Shares Outstanding (Mil)5657-0.9%
Cumulative Contribution-28.8%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/29/2026
ReturnCorrelation
WK-28.8% 
Market (SPY)7.3%-3.6%
Sector (XLK)15.8%-10.7%

Fundamental Drivers

The -10.2% change in WK stock from 6/30/2025 to 7/29/2026 was primarily driven by a -24.4% change in the company's P/S Multiple.
(LTM values as of)63020257292026Change
Stock Price ($)68.4561.45-10.2%
Change Contribution By: 
Total Revenues ($ Mil)76992620.3%
P/S Multiple5.03.8-24.4%
Shares Outstanding (Mil)5657-1.3%
Cumulative Contribution-10.2%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/29/2026
ReturnCorrelation
WK-10.2% 
Market (SPY)19.1%-5.3%
Sector (XLK)32.1%-8.8%

Fundamental Drivers

The -39.6% change in WK stock from 6/30/2023 to 7/29/2026 was primarily driven by a -61.4% change in the company's P/S Multiple.
(LTM values as of)63020237292026Change
Stock Price ($)101.6661.45-39.6%
Change Contribution By: 
Total Revenues ($ Mil)55892665.8%
P/S Multiple9.83.8-61.4%
Shares Outstanding (Mil)5457-5.6%
Cumulative Contribution-39.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/29/2026
ReturnCorrelation
WK-39.6% 
Market (SPY)70.4%30.0%
Sector (XLK)95.2%23.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
WK Return42%-36%21%8%-21%-32%-36%
Peers Return45%-17%38%29%-1%-23%62%
S&P 500 Return27%-19%24%23%16%9%98%

Monthly Win Rates [3]
WK Win Rate75%50%75%50%33%14% 
Peers Win Rate58%35%65%60%47%40% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
WK Max Drawdown-28%-54%-24%-31%-46%-52% 
Peers Max Drawdown-22%-39%-23%-21%-37%-45% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BL, DFIN, NOW, ORCL, IBM. See WK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/29/2026 (YTD)

How Low Can It Go

EventWKS&P 500
2025 US Tariff Shock
  % Loss-28.9%-18.8%
  % Gain to Breakeven40.7%23.1%
  Time to Breakeven177 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.4%-9.5%
  % Gain to Breakeven25.6%10.5%
  Time to Breakeven412 days24 days
2020 COVID-19 Crash
  % Loss-49.1%-33.7%
  % Gain to Breakeven96.6%50.9%
  Time to Breakeven92 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-16.2%-19.2%
  % Gain to Breakeven19.3%23.8%
  Time to Breakeven33 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-32.2%-3.7%
  % Gain to Breakeven47.4%3.9%
  Time to Breakeven114 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-21.7%-12.2%
  % Gain to Breakeven27.7%13.9%
  Time to Breakeven159 days62 days

Compare to BL, DFIN, NOW, ORCL, IBM

In The Past

Workiva's stock fell -28.9% during the 2025 US Tariff Shock. Such a loss loss requires a 40.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventWKS&P 500
2025 US Tariff Shock
  % Loss-28.9%-18.8%
  % Gain to Breakeven40.7%23.1%
  Time to Breakeven177 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.4%-9.5%
  % Gain to Breakeven25.6%10.5%
  Time to Breakeven412 days24 days
2020 COVID-19 Crash
  % Loss-49.1%-33.7%
  % Gain to Breakeven96.6%50.9%
  Time to Breakeven92 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-32.2%-3.7%
  % Gain to Breakeven47.4%3.9%
  Time to Breakeven114 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-21.7%-12.2%
  % Gain to Breakeven27.7%13.9%
  Time to Breakeven159 days62 days

Compare to BL, DFIN, NOW, ORCL, IBM

In The Past

Workiva's stock fell -28.9% during the 2025 US Tariff Shock. Such a loss loss requires a 40.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Workiva (WK)

Workiva (WK) is a technology company that provides cloud-based compliance and regulatory reporting solutions to organizations worldwide. Essentially, Workiva helps businesses, government entities, and educational institutions streamline the complex processes involved in gathering, managing, and reporting critical financial and operational data to meet various regulatory requirements and internal compliance standards.

The company's primary offering is the Workiva platform, a comprehensive suite designed to enhance efficiency, accuracy, and transparency in reporting. This platform facilitates controlled collaboration among teams, enables robust data linking across documents, and supports seamless data integrations from a multitude of enterprise systems, including ERP, GRC, HCM, and CRM. Key features also include granular permissions, process management tools, and a full audit trail, ensuring data integrity and accountability throughout the reporting lifecycle.

Workiva serves a diverse customer base globally, catering to both public and private companies that navigate stringent reporting demands. Beyond the corporate sector, its solutions are also widely adopted by government agencies and higher-education institutions, all of whom benefit from the platform's ability to connect disparate data sources and automate the creation of compliant, accurate, and consistent reports.

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Here are 1-2 brief analogies for Workiva (WK):

  1. Workiva is like Salesforce for corporate compliance and regulatory reporting.

  2. Think of it as TurboTax for large enterprises, but for all kinds of complex regulatory and compliance reports, not just taxes.

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  • Workiva Platform: A cloud-based platform providing solutions for controlled collaboration, data linking, and integration with various enterprise systems to streamline compliance and regulatory reporting.

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Workiva (WK) Major Customers

Workiva Inc. primarily provides its cloud-based compliance and regulatory reporting solutions to other organizations, including public and private companies, government agencies, and higher-education institutions.

Due to the nature of its Software-as-a-Service (SaaS) business model, Workiva serves a diverse and broad customer base across various industries globally. While Workiva does not publicly disclose a definitive list of its "major customers" in terms of revenue concentration, it does highlight various prominent organizations that utilize its platform.

Examples of public companies known to be Workiva customers include:

  • Delta Air Lines (DAL)
  • Marriott International (MAR)
  • The Western Union Company (WU)
  • The Hanover Insurance Group (THG)

In addition to public and private companies, Workiva's customer base also extends to:

  • Government agencies
  • Higher-education institutions

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  • Amazon Web Services (AMZN)

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Julie Iskow President & Chief Executive Officer

Julie Iskow assumed the role of President and CEO of Workiva in 2023. She joined Workiva in 2019 as EVP and Chief Operating Officer, and was promoted to President in 2022. Previously, she was Chief Technology Officer at Medidata Solutions, a SaaS technology and data platform for life sciences, where her work contributed to a strategic sale in 2019. Before Medidata, Ms. Iskow was Chief Information Officer at WageWorks, a consumer benefits SaaS platform, which she helped take public in 2012. She spent the initial decade of her career in engineering and technology leadership positions, focusing on automation and robotics software.

Barbara Larson EVP & Chief Financial Officer

Barbara Larson was appointed as EVP & Chief Financial Officer of Workiva, effective January 20, 2026. She brings over 20 years of financial leadership experience to Workiva, having most recently served as CFO at SentinelOne. Before SentinelOne, she spent nearly a decade in various financial leadership roles at Workday, including CFO, where she oversaw finance, accounting, internal audit, and investor relations, and advised on business strategy and product development. Prior to Workday, Ms. Larson held senior financial positions at VMware, TIBCO Software, and Symantec. She also serves on the Board of Directors for Equifax.

Martin Vanderploeg Non-Executive Chair

Martin J. Vanderploeg is a co-founder of Workiva. He served as Chief Executive Officer from 2018 to 2023 and as President from 2014 to 2022. From 2008 to 2018, he was the Chief Operating Officer. Before co-founding Workiva, Mr. Vanderploeg co-founded and served as Chief Technology Officer of Engineering Animation Inc. (EAI), which was sold to Unigraphics Solutions (now part of Siemens USA) in 2000. He began his career in academia as a tenured professor of mechanical engineering at Iowa State University.

Penny Ashley-Lawrence EVP, Chief Customer Officer

Penny Ashley-Lawrence ensures customers and partners achieve business outcomes using the Workiva platform, overseeing customer success, services, support, operations, and enablement teams. She has over two decades of experience in sales, marketing, and managing teams, with a significant portion of her career in the SaaS industry. Before joining Workiva, she held several customer success leadership roles at LogMeIn and Citrix.

Deepak R. Bharadwaj EVP, Chief Product Officer

Deepak R. Bharadwaj leads Workiva's global product and UX teams, shaping the company's AI-driven platform and solution portfolio. He has over 25 years of experience building and scaling SaaS products. Prior to Workiva, he served as Vice President of Product Management for Adobe's Document Cloud, where he led the launch of Acrobat Studio. He also held roles at ServiceNow, where he introduced and scaled Employee Experience products, and has held product leadership positions at Oracle, SAP, and Taleo.

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Key Business Risks for Workiva (WK)

  1. Data Security and Third-Party Vendor Risk: Workiva faces significant risks related to data security, particularly concerning its reliance on third-party systems. A recent incident involved a data breach in Workiva's Salesforce CRM system, which exposed business contact information of its customers. While Workiva's core platform and client data remained uncompromised, such breaches can lead to reputational damage, loss of customer trust, and increased vulnerability to subsequent attacks like spear-phishing. This underscores the ongoing challenge of managing cybersecurity risks, especially those originating from supply chain vulnerabilities.
  2. Regulatory and Policy Changes: Workiva's business model is closely tied to evolving compliance and regulatory reporting requirements. Over 40% of its total revenue is derived from customers using its platform for SEC filings. The company's growth is also influenced by new global sustainability mandates, such as the EU's Corporate Sustainability Reporting Directive (CSRD) and standards from the International Sustainability Standards Board (ISSB). Shifts in political policies, proposed regulatory changes, or the rolling back of existing regulations, particularly in the sustainability sector, could lead to decreased demand for Workiva's solutions. For example, Workiva experienced "softer demand" in certain sustainability segments due to shifting political policies and proposed regulatory changes in Q2 2025.
  3. Intense Competition and Rapid Technological Advancements (including AI): Workiva operates in a highly competitive and dynamic market against both large enterprise software vendors and specialized providers offering solutions for financial reporting, ESG, and Governance, Risk, and Compliance (GRC). The market is continuously evolving with new reporting standards and rapid technological advancements, especially in Artificial Intelligence (AI). While Workiva is actively incorporating AI into its platform, there is a risk of disruption from competitors who might develop more advanced or disruptive AI-powered solutions, or if generative AI models significantly reduce the perceived need for traditional SaaS products.

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Workiva (WK) targets a global addressable market estimated at $35 billion. This market is segmented geographically as follows:
  • Americas: $16.4 billion
  • Europe: $10.9 billion
  • Asia-Pacific (APJ): $7.7 billion
Workiva's expansion into Environmental, Social, and Governance (ESG) and Governance, Risk, and Compliance (GRC) solutions has positioned the company to capture a larger portion of this total addressable market. The ESG-related products alone are estimated to represent a segment of approximately $7 billion within Workiva's overall market. For context, the global ESG reporting software market was valued at approximately USD 1.32 billion in 2025 and is projected to reach USD 7.36 billion by 2034.

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Workiva (WK) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives:

  1. Expansion of multi-solution adoption within existing customers: Workiva employs a "land-and-expand" strategy, focusing on increasing the number of solutions adopted by its current customer base. The percentage of subscription revenue generated from multi-solution customers increased from 63% in Q1 2023 to 69% in Q1 2025, and further to 74% in Q4 2025. This strategy is reinforced by a strong net retention rate, which was 114% in Q2 2025 and 113% in Q4 2025, demonstrating effective upselling and cross-selling within existing accounts.
  2. New customer acquisition, particularly larger enterprise clients: Workiva aims to acquire larger new clients to diversify revenue and increase market share. New customers added in the last 12 months accounted for approximately 40% of the increase in Q4 2025 subscription revenue. The company has also seen significant growth in higher-value contracts, with customers with Annual Contract Value (ACV) exceeding $500,000 increasing by 35% in Q2 2025 and 37% in Q4 2025.
  3. Product innovation, including AI-powered solutions and ESG reporting: Workiva is continuously enhancing its platform and launching new solutions, with a strong focus on artificial intelligence (AI) and Environmental, Social, and Governance (ESG) reporting. The company's AI-powered platform unifies complex financial, ESG, and GRC reporting, addressing critical needs for data transparency and compliance. Around 30% of Workiva's customers had activated AI features by the end of 2025, with options from three large language model providers, indicating the increasing traction of these innovations. The strategic acquisition of Sustain.Life in June 2024 further solidifies its position in the ESG sector.
  4. Geographical expansion and tapping into new markets: Workiva is actively expanding its market reach globally, targeting a total addressable market estimated at $35 billion across the Americas, Europe, and Asia-Pacific. International revenue represented over 19% of total revenue year-to-date in Q3 2025, up from 17% in 2024, and reached 27% of total revenue in 2025, up 300 basis points year-over-year, indicating successful global outreach. The company has existing international offices in key regions to support this expansion.

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Share Repurchases

  • Workiva's board authorized a new $250 million stock buyback program on February 16, 2026, allowing the company to repurchase up to 7.7% of its outstanding shares.
  • In the fourth quarter of 2025, Workiva repurchased 131,000 shares of Class A common stock for $12 million.
  • For the full year 2025, a total of $72 million was repurchased under a share repurchase program that was initially authorized in July 2024 for up to $100 million.

Share Issuance

  • Workiva had 56.32 million common shares outstanding as of December 31, 2025.
  • The number of shares outstanding increased by 1.66% in the year leading up to December 2025.
  • In August 2023, Workiva announced the pricing of a private offering of $625 million principal amount of 1.250% Convertible Senior Notes due 2028, which are convertible into cash, shares of common stock, or a combination.

Inbound Investments

  • 13D Management LLC opened a new position in Workiva in the fourth quarter of 2025, purchasing 52,000 shares valued at approximately $4.49 million.
  • Jain Global LLC increased its position in Workiva by 26.0% in the third quarter of 2025, holding 193,941 shares worth $16,694,000.
  • Eminence Capital LP boosted its stake in Workiva by 40.7% in the third quarter of 2025 to 3,723,546 shares, representing 6.63% ownership and valued at approximately $320.5 million.

Outbound Investments

  • Workiva acquired Sustain.Life, a SaaS-based platform for emissions management, in June 2024 for $100 million.
  • Workiva acquired ParsePort in April 2022 for $100 million.
  • Workiva acquired AuditNet, a global audit content and services provider, in December 2021 for an undisclosed amount.

Capital Expenditures

  • Workiva's capital expenditures were -$2.08 million in the last 12 months (as of March 2026), suggesting dispositions exceeded additions.
  • Forecasted capital expenditures for 2026 are $2.438 million, following an estimated $2.075 million for 2025 and $1.363 million for 2024.
  • Historical capital expenditures were $2.124 million in 2023, $3.458 million in 2022, and $3.534 million in 2021.

Better Bets vs. Workiva (WK)

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

WKBLDFINNOWORCLIBMMedian
NameWorkiva BlackLineDonnelle.ServiceN.Oracle Internat. 
Mkt Price61.4532.4351.39115.76117.74226.4488.61
Mkt Cap3.51.91.30.1338.5213.12.7
Rev LTM92671777114,73267,35869,0977,829
Op Inc LTM-2391521,68022,44212,705916
FCF LTM1711381434,571-23,68613,144157
FCF 3Y Avg1041401073,809-4,09112,295123
CFO LTM1741691975,30831,97714,8882,752
CFO 3Y Avg1071701694,62823,82413,9742,399

Growth & Margins

WKBLDFINNOWORCLIBMMedian
NameWorkiva BlackLineDonnelle.ServiceN.Oracle Internat. 
Rev Chg LTM20.3%8.1%-1.1%22.2%17.4%7.9%12.7%
Rev Chg 3Y Avg18.4%9.8%-2.1%22.5%10.6%4.5%10.2%
Rev Chg Q19.9%9.7%2.2%24.0%20.6%1.1%14.8%
QoQ Delta Rev Chg LTM4.6%2.3%0.6%5.5%5.1%0.3%3.5%
Op Inc Chg LTM97.1%45.6%4.5%4.9%24.3%16.3%20.3%
Op Inc Chg 3Y Avg38.5%70.4%2.5%55.3%17.8%13.3%28.2%
Op Mgn LTM-0.3%5.5%19.7%11.4%33.3%18.4%14.9%
Op Mgn 3Y Avg-7.0%5.5%18.6%11.8%31.7%17.0%14.4%
QoQ Delta Op Mgn LTM4.5%-0.3%-0.0%-2.0%1.0%-0.4%-0.2%
CFO/Rev LTM18.8%23.6%25.5%36.0%47.5%21.5%24.6%
CFO/Rev 3Y Avg13.3%25.7%21.5%38.0%39.7%21.4%23.6%
FCF/Rev LTM18.5%19.3%18.5%31.0%-35.2%19.0%18.8%
FCF/Rev 3Y Avg13.0%21.1%13.7%31.1%-4.5%18.9%16.3%

Valuation

WKBLDFINNOWORCLIBMMedian
NameWorkiva BlackLineDonnelle.ServiceN.Oracle Internat. 
Mkt Cap3.51.91.30.1338.5213.12.7
P/S3.82.71.70.05.03.12.9
P/Op Inc-1,474.949.18.70.115.116.811.9
P/EBIT114.933.122.00.014.017.219.6
P/E246.272.537.80.119.819.928.9
P/CFO20.111.46.70.010.614.311.0
Total Yield0.4%1.4%2.6%1,398.8%6.8%8.0%4.7%
Dividend Yield0.0%0.0%0.0%0.0%1.7%3.0%0.0%
FCF Yield 3Y Avg3.3%5.6%7.8%2,084.2%-0.9%5.6%5.6%
D/E0.20.40.270.80.50.30.3
Net D/E-0.00.10.231.70.40.30.2

Returns

WKBLDFINNOWORCLIBMMedian
NameWorkiva BlackLineDonnelle.ServiceN.Oracle Internat. 
1M Rtn25.8%15.8%23.7%15.8%-20.0%-18.5%15.8%
3M Rtn14.0%4.1%0.5%30.2%-27.9%0.4%2.3%
6M Rtn-24.4%-37.4%-1.1%-10.7%-31.4%-22.0%-23.2%
12M Rtn-8.7%-41.8%-21.0%-41.7%-52.4%-11.5%-31.3%
3Y Rtn-41.4%-42.7%8.8%1.6%5.2%73.9%3.4%
1M Excs Rtn27.5%17.5%25.4%17.5%-18.4%-16.9%17.5%
3M Excs Rtn10.9%-0.1%-1.8%25.4%-31.3%-4.6%-1.0%
6M Excs Rtn-29.0%-43.8%-6.1%-17.0%-37.0%-26.8%-27.9%
12M Excs Rtn-24.8%-56.3%-35.6%-55.8%-66.4%-26.3%-45.7%
3Y Excs Rtn-101.9%-102.6%-52.3%-60.5%-57.3%18.1%-58.9%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Subscription and support813668559465379
Extensible Business Reporting Language (XBRL) professional services61595755 
Other services11121518 
Professional services    64
Total885739630538443


Price Behavior

Price Behavior
Market Price$61.45 
Market Cap ($ Bil)3.5 
First Trading Date12/12/2014 
Distance from 52W High-34.1% 
   50 Days200 Days
DMA Price$51.10$68.05
DMA Trenddowndown
Distance from DMA20.3%-9.7%
 3M1YR
Volatility53.8%53.8%
Downside Capture-150.377.71
Upside Capture-69.95-4.47
Correlation (SPY)-24.5%-4.5%
WK Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta-0.34-0.99-0.420.03-0.130.89
Up Beta0.14-1.07-0.35-0.000.191.18
Down Beta-0.26-0.17-0.940.00-0.810.72
Up Capture-65%-121%-46%-43%-8%24%
Bmk +ve Days11244067140429
Stock +ve Days8182752117363
Down Capture-36%-130%6%80%36%101%
Bmk -ve Days10172358112321
Stock -ve Days13233673134386

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with WK
WK-10.3%53.7%-0.03-
Sector ETF (XLK)26.8%25.0%0.90-9.4%
Equity (SPY)15.6%12.8%0.86-5.7%
Gold (GLD)21.6%28.1%0.68-3.1%
Commodities (DBC)31.5%19.7%1.27-9.7%
Real Estate (VNQ)15.9%14.0%0.828.0%
Bitcoin (BTCUSD)-46.1%42.9%-1.324.8%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with WK
WK-13.7%46.2%-0.17-
Sector ETF (XLK)17.9%25.6%0.6341.8%
Equity (SPY)12.4%17.1%0.5546.0%
Gold (GLD)17.1%18.4%0.754.3%
Commodities (DBC)9.3%19.5%0.366.8%
Real Estate (VNQ)2.9%18.9%0.0538.1%
Bitcoin (BTCUSD)14.7%53.3%0.4624.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with WK
WK16.1%43.6%0.49-
Sector ETF (XLK)23.4%24.8%0.8644.0%
Equity (SPY)14.7%17.9%0.7043.5%
Gold (GLD)11.3%16.1%0.576.4%
Commodities (DBC)7.1%18.0%0.3212.4%
Real Estate (VNQ)5.1%20.7%0.2133.7%
Bitcoin (BTCUSD)57.7%66.2%0.9817.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity6.0 Mil
Short Interest: % Change Since 63020261.0%
Average Daily Volume0.8 Mil
Days-to-Cover Short Interest7.3 days
Basic Shares Quantity56.9 Mil
Short % of Basic Shares10.5%

Earnings Returns History

Updated 6/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-7.0%-15.4%-11.5%
2/19/20263.7%4.1%2.5%
11/5/20255.8%13.4%11.8%
7/31/202532.1%19.0%28.8%
5/1/2025-9.4%-7.6%-8.1%
2/25/20257.0%4.8%0.3%
11/6/20244.4%7.7%17.4%
8/1/2024-0.5%3.8%7.7%
...
SUMMARY STATS   
# Positive151417
# Negative9107
Median Positive4.6%4.6%7.5%
Median Negative-6.7%-5.3%-11.5%
Max Positive32.1%20.1%34.0%
Max Negative-12.9%-25.6%-19.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-7.0%-15.4%-11.5%
2/19/20263.7%4.1%2.5%
11/5/20255.8%13.4%11.8%
7/31/202532.1%19.0%28.8%
5/1/2025-9.4%-7.6%-8.1%
2/25/20257.0%4.8%0.3%
11/6/20244.4%7.7%17.4%
8/1/2024-0.5%3.8%7.7%
5/2/20242.0%3.1%-5.2%
2/20/2024-12.9%-9.8%-9.0%
10/30/2023-4.8%-3.1%4.8%
8/3/20234.6%-0.3%7.5%
5/2/2023-3.9%-2.4%7.0%
2/21/20232.4%4.3%12.1%
11/2/20222.2%-1.2%24.0%
8/9/202210.6%6.4%2.5%
5/3/2022-6.7%-25.6%-19.3%
2/22/2022-8.6%5.6%7.3%
11/3/20217.9%3.6%-12.0%
8/3/20217.8%3.4%11.0%
5/4/20212.5%3.0%2.6%
2/17/20212.8%-2.0%-15.8%
11/4/202019.8%20.1%34.0%
8/4/2020-0.5%-9.8%4.9%
SUMMARY STATS   
# Positive151417
# Negative9107
Median Positive4.6%4.6%7.5%
Median Negative-6.7%-5.3%-11.5%
Max Positive32.1%20.1%34.0%
Max Negative-12.9%-25.6%-19.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/19/202610-K
09/30/202511/05/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/25/202510-K
09/30/202411/06/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/20/202410-K
09/30/202310/30/202310-Q
06/30/202308/03/202310-Q
03/31/202305/02/202310-Q
12/31/202202/21/202310-K
09/30/202211/02/202210-Q
06/30/202208/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/19/202610-K
09/30/202511/05/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/25/202510-K
09/30/202411/06/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/20/202410-K
09/30/202310/30/202310-Q
06/30/202308/03/202310-Q
03/31/202305/02/202310-Q
12/31/202202/21/202310-K
09/30/202211/02/202210-Q
06/30/202208/09/202210-Q
03/31/202205/03/202210-Q
12/31/202102/22/202210-K
09/30/202111/03/202110-Q
06/30/202108/03/202110-Q
03/31/202105/04/202110-Q
12/31/202002/17/202110-K
09/30/202011/04/202010-Q
06/30/202008/04/202010-Q
03/31/202004/30/202010-Q
12/31/201902/20/202010-K
09/30/201911/06/201910-Q
06/30/201908/06/201910-Q

Recent Forward Guidance

Updated 7/27/2026

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue250.00 Mil251.00 Mil252.00 Mil   
Q2 2026 GAAP Operating Margin1.6%1.9%2.2%   
Q2 2026 Non-GAAP Operating Margin14.5%14.75%15.0%   
Q2 2026 GAAP EPS0.120.140.15   
Q2 2026 Non-GAAP EPS0.620.640.65   
2026 Revenue1.04 Bil1.04 Bil1.04 Bil0.1% RaisedGuidance: 1.04 Bil for 2026
2026 GAAP Operating Margin3.8%4.05%4.3% 1.2%RaisedGuidance: 2.9% for 2026
2026 Non-GAAP Operating Margin16.0%16.25%16.5% 1.0%RaisedGuidance: 15.25% for 2026
2026 GAAP EPS0.890.940.9925.3% RaisedGuidance: 0.75 for 2026
2026 Non-GAAP EPS2.852.92.957.0% RaisedGuidance: 2.71 for 2026
2026 Free Cash Flow Margin 20.0%  1.0%RaisedGuidance: 19.0% for 2026

Prior: Q4 2025 Earnings Reported 2/19/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue244.00 Mil245.00 Mil246.00 Mil4.3% Higher NewGuidance: 235.00 Mil for Q4 2025
Q1 2026 GAAP Operating Margin2.7%3.0%3.3% 2.6%Higher NewGuidance: 0.4% for Q4 2025
Q1 2026 Non-GAAP Operating Margin15.5%15.75%16.0% -1.4%Lower NewGuidance: 17.1% for Q4 2025
Q1 2026 GAAP EPS0.170.180.2184.6% Higher NewGuidance: 0.07 for Q4 2025
Q1 2026 Non-GAAP EPS0.640.660.67-4.4% Lower NewGuidance: 0.69 for Q4 2025
2026 Revenue1.04 Bil1.04 Bil1.04 Bil17.8% Higher NewGuidance: 881.00 Mil for 2025
2026 GAAP Operating Margin2.6%2.9%3.2% 8.5%Higher NewGuidance: -5.6% for 2025
2026 Non-GAAP Operating Margin15.0%15.25%15.5% 6.0%Higher NewGuidance: 9.3% for 2025
2026 GAAP EPS0.70.750.8-224.0% Higher NewGuidance: -0.6 for 2025
2026 Non-GAAP EPS2.662.712.7662.8% Higher NewGuidance: 1.67 for 2025
2026 Free Cash Flow Margin 19.0%  7.0%Higher NewGuidance: 12.0% for 2025

Q3 2025 Earnings Reported 11/5/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Revenue234.00 Mil235.00 Mil236.00 Mil7.3% Higher NewGuidance: 219.00 Mil for Q3 2025
Q4 2025 GAAP Operating Margin0.0%0.4%0.8%   
Q4 2025 Non-GAAP Operating Margin16.7%17.1%17.5%   
Q4 2025 GAAP EPS0.050.070.08   
Q4 2025 Non-GAAP EPS0.670.690.7   
2025 Revenue880.00 Mil881.00 Mil882.00 Mil1.1% RaisedGuidance: 871.50 Mil for 2025
2025 GAAP Operating Margin-5.7%-5.6%-5.5%   
2025 Non-GAAP Operating Margin9.2%9.3%9.4%   
2025 GAAP EPS-0.62-0.6-0.59   
2025 Non-GAAP EPS1.651.671.68   
2025 Free Cash Flow Margin 12.0% 14.3%1.5%RaisedGuidance: 10.5% for 2025

Insider Activity

Updated 6/8/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Herz, Robert H DirectSell608202651.231,50076,8451,914,568Form
2Herz, Robert H DirectSell602202649.691,00049,6901,729,311Form
3Mulcahy, David S DirectSell1212202591.501,162106,32321,994,130Form
4Herz, Robert H DirectSell1212202591.441,500137,1603,273,735Form
5Mulcahy, David S DirectSell1201202592.0180874,34422,223,635Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Herz, Robert H DirectSell608202651.231,50076,8451,914,568Form
2Herz, Robert H DirectSell602202649.691,00049,6901,729,311Form
3Mulcahy, David S DirectSell1212202591.501,162106,32321,994,130Form
4Herz, Robert H DirectSell1212202591.441,500137,1603,273,735Form
5Mulcahy, David S DirectSell1201202592.0180874,34422,223,635Form

Investor Activity (13F)

Updated Jul 30, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Topline Capital Management, LLC$62.6 Mil10.3%43ADD +264.3%13F
Steelhead Partners LLC$53.9 Mil3.9%24New13F
Eminence Capital, LP$150.3 Mil3.4%33TRIM -32.0%13F
Irenic Capital Management LP$32.9 Mil3.0%42Hold13F
Tetragon Partners GP Ltd$14.9 Mil2.9%38ADD +66.7%13F
Opti Capital Management, LP$35.8 Mil2.6%36ADD +11.6%13F
Hawk Ridge Capital Management LP$65.1 Mil2.4%48New13F
Jericho Capital Asset Management L.P.$147.0 Mil2.2%23New13F
Praesidium Investment Management Company, LLC$9.0 Mil2.1%12ADD +7.1%13F
Cypress Point Investment Management LP$6.1 Mil1.4%32New13F
Goldentree Asset Management LP$21.3 Mil1.3%29New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Jericho Capital Asset Management L.P.$147.0 Mil2.2%23New13F
Hawk Ridge Capital Management LP$65.1 Mil2.4%48New13F
Steelhead Partners LLC$53.9 Mil3.9%24New13F
Goldentree Asset Management LP$21.3 Mil1.3%29New13F
Cypress Point Investment Management LP$6.1 Mil1.4%32New13F
Topline Capital Management, LLC$62.6 Mil10.3%43ADD +264.3%13F
Tetragon Partners GP Ltd$14.9 Mil2.9%38ADD +66.7%13F
Opti Capital Management, LP$35.8 Mil2.6%36ADD +11.6%13F
Praesidium Investment Management Company, LLC$9.0 Mil2.1%12ADD +7.1%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Madison Avenue Partners, LP$5.2 Mil0.2%23ExitedDec 31, 202513F
Eminence Capital, LP$150.3 Mil3.4%33TRIM -32.0%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Eminence Capital, LP$150.3 Mil3.4%33TRIM -32.0%13F
Jericho Capital Asset Management L.P.$147.0 Mil2.2%23New13F
Hawk Ridge Capital Management LP$65.1 Mil2.4%48New13F
Topline Capital Management, LLC$62.6 Mil10.3%43ADD +264.3%13F
Steelhead Partners LLC$53.9 Mil3.9%24New13F
Opti Capital Management, LP$35.8 Mil2.6%36ADD +11.6%13F
Irenic Capital Management LP$32.9 Mil3.0%42Hold13F
Goldentree Asset Management LP$21.3 Mil1.3%29New13F
Tetragon Partners GP Ltd$14.9 Mil2.9%38ADD +66.7%13F
Praesidium Investment Management Company, LLC$9.0 Mil2.1%12ADD +7.1%13F
Cypress Point Investment Management LP$6.1 Mil1.4%32New13F
Core Cache Last Updated: 7/29/2026