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Workiva
(NYSE:WK)
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Rating:60Neutral
Price Target:
$55.00
▼(-4.08% Downside)
Action:Reiterated
Date:06/03/26
The score is driven primarily by improving operating performance and strong cash generation, reinforced by an upbeat earnings call with raised margin/FCF outlook and strong enterprise/retention KPIs. This is offset by elevated balance-sheet risk (high debt and negative equity), weak-to-mixed technicals versus longer-term moving averages, and a very high P/E with no dividend support.
Positive Factors
Recurring SaaS Revenue
Workiva’s core subscription SaaS model delivers recurring, contract-backed revenue that supports predictable inflows, high retention potential and expansion within accounts. That durable revenue base underpins recurring cash conversion and allows multi-year planning for go-to-market and R&D investments.
Negative Factors
High Leverage & Negative Equity
Substantial debt combined with negative equity materially reduces balance-sheet flexibility and elevates refinancing and downside risk. If growth or margins slow, higher leverage can constrain capital allocation, increase interest burden, and limit ability to fund investments or opportunistic M&A over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring SaaS Revenue
Workiva’s core subscription SaaS model delivers recurring, contract-backed revenue that supports predictable inflows, high retention potential and expansion within accounts. That durable revenue base underpins recurring cash conversion and allows multi-year planning for go-to-market and R&D investments.
Read all positive factors
Workiva Key Performance Indicators (KPIs)
Any
Customers Over $100,000 Annual Contract Value
Highlights the number of high-value clients, indicating the company's ability to attract and retain significant business relationships that drive substantial revenue.
Highlights the number of high-value clients, indicating the company's ability to attract and retain significant business relationships that drive substantial revenue.
Data provided by:
The Fly
The FlyWorkiva (WK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.91B
Dividend YieldN/A
Average Volume (3M)1.13M
Price to Earnings (P/E)216.4
Beta (1Y)0.72
Revenue Growth20.32%
EPS GrowthN/A
CountryUS
Employees2,873
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.24
Shares Outstanding52,549,750
10 Day Avg. Volume1,078,796
30 Day Avg. Volume1,131,197
Financial Highlights & Ratios
PEG Ratio3.49
Price to Book (P/B)-892.84
Price to Sales (P/S)5.49
P/FCF Ratio35.17
Enterprise Value/Market Cap1.08
Enterprise Value/Revenue3.41
Enterprise Value/Gross Profit4.29
Enterprise Value/Ebitda76.86
Forecast
1Y Price Target
$79.00Price Target Upside37.77% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)2.91
Revenue Forecast (FY)$1.04B
Workiva Business Overview & Revenue Model
Company Description
Workiva Inc. is a global provider of cloud-based software solutions designed to streamline and manage compliance and regulatory reporting. Its flagship offering, the Workiva platform, delivers a suite of advanced capabilities such as secure collab...
How the Company Makes Money
Workiva primarily generates revenue by selling subscriptions to its cloud-based platform (delivered as software-as-a-service). Subscription revenue is typically based on contracted access to the platform and its solutions (e.g., capabilities suppo...
Workiva Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed strong top-line growth, durable recurring revenue, substantial margin expansion and accelerating product innovation (notably AI agents), alongside broad enterprise wins and improving go-to-market execution. Near-term conservatism in Q2 guidance, an expected Q2 margin step-down, invoice timing volatility affecting billings, and flat services revenue are manageable short-term headwinds. Overall, the positives (revenue beats, retention, large-contract expansion, margin improvements and raised full-year margin and FCF outlook) materially outweigh the modest near-term concerns.Positive Updates
Revenue Beat and Growth
Q1 total revenue of $247M, up 20% year-over-year, beating the high end of guidance by $1M; subscription revenue $225M, up 21% YoY.
Negative Updates
Q2 Revenue Linearity and Conservative Guide
Q2 2026 revenue guidance of $250M–$252M implies the smallest sequential revenue growth of the year (seasonality) and was described as conservative relative to Q1 strength.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Beat and Growth
Q1 total revenue of $247M, up 20% year-over-year, beating the high end of guidance by $1M; subscription revenue $225M, up 21% YoY.
Read all positive updates
Company Guidance
Workiva guided Q2 2026 total revenue of $250–$252 million with services revenue expected to be relatively flat versus Q2 2025 and non‑GAAP operating margin of 14.5%–15.0% (Q2 margin is expected to be lower than Q1 due to headcount‑related expenses; Q1 non‑GAAP operating margin was 18.4%). For full‑year 2026 the company now expects total revenue of $1.037–$1.041 billion, subscription revenue growth of approximately 19% year‑over‑year, services revenue roughly flat year‑over‑year, non‑GAAP operating margin of 16.0%–16.5% (raised 100 basis points) and free cash flow margin of about 20% (also raised 100 basis points); management noted the $1 million Q1 revenue beat was flowed into the full‑year guide and current RPO of $765 million (up 20% YoY) underpins near‑term visibility.Workiva Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
28
Negative
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 925.59M | 884.57M | 738.68M | 630.04M | 537.88M | 443.29M |
| Gross Profit | 734.96M | 694.14M | 566.63M | 475.82M | 407.99M | 339.45M |
| EBITDA | 41.03M | 1.35M | -25.57M | -59.32M | -72.75M | -19.84M |
| Net Income | 14.20M | -26.17M | -55.04M | -127.53M | -90.95M | -37.73M |
Balance Sheet | ||||||
| Total Assets | 1.43B | 1.49B | 1.37B | 1.22B | 819.62M | 786.76M |
| Cash, Cash Equivalents and Short-Term Investments | 864.09M | 891.62M | 816.42M | 813.72M | 430.79M | 530.45M |
| Total Debt | 793.47M | 807.82M | 793.28M | 793.18M | 373.17M | 337.74M |
| Total Liabilities | 1.44B | 1.50B | 1.41B | 1.31B | 813.64M | 713.78M |
| Stockholders Equity | -12.62M | -5.44M | -41.68M | -89.39M | 5.98M | 72.98M |
Cash Flow | ||||||
| Free Cash Flow | 171.82M | 138.00M | 86.15M | 68.52M | 7.72M | 46.09M |
| Operating Cash Flow | 173.90M | 140.07M | 87.71M | 70.88M | 11.33M | 49.84M |
| Investing Cash Flow | -4.47M | -34.95M | -45.25M | -357.25M | -68.01M | -68.63M |
| Financing Cash Flow | -79.96M | -74.94M | 6.74M | 301.26M | -1.59M | -3.39M |
Workiva Technical Analysis
Neutral
57.34
Price Trends
49.94
Positive
55.07
Negative
70.64
Negative
Market Momentum
-0.09
Negative
59.36
Neutral
80.12
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WK, the sentiment is Neutral. The current price of 57.34 is above the 20-day moving average (MA) of 48.58, above the 50-day MA of 49.94, and below the 200-day MA of 70.64, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 59.36 is Neutral, neither overbought nor oversold. The STOCH value of 80.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for WK.
Workiva Risk Analysis
Workiva disclosed 46 risk factors in its most recent earnings report. Workiva reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Workiva Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $2.97B | 16.14 | 18.54% | ― | 15.92% | ― | |
75 Outperform | $6.88B | 41.65 | 77.45% | 2.11% | 17.39% | -31.63% | |
62 Neutral | $881.21M | 7.65 | 8.36% | ― | 3.64% | 230.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $2.91B | 216.38 | -46.74% | ― | 20.32% | ― | |
60 Neutral | $1.75B | 68.17 | 7.70% | ― | 8.12% | -82.54% | |
52 Neutral | $9.56B | 725.29 | 1.11% | ― | 40.10% | ― |
* Technology Sector Average
WK
Workiva
51.93
-16.30
-23.89%
BL
BlackLine
29.88
-27.28
-47.73%
GTM
ZoomInfo Technologies
2.99
-7.05
-70.22%
COMP
Compass
12.62
6.47
105.20%
YOU
Clear Secure
53.79
25.59
90.71%
FRSH
Freshworks
10.34
-4.66
-31.07%
Workiva Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Workiva Expands Equity Incentive Plan After Shareholder Vote
Positive
Jun 2, 2026
At its Annual Meeting of Stockholders on May 28, 2026, Workiva shareholders approved an amendment and restatement of the company’s 2014 Equity Incentive Plan, increasing the total shares authorized for issuance from 17,760,000 to 21,660,000,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.