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Workiva
(NYSE:WK)
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Rating:67Neutral
Price Target:
$79.00
▲(6.33% Upside)
Action:Reiterated
Date:08/05/26
The score reflects strong recent execution and upbeat guidance (margin and free-cash-flow outlook raised alongside solid enterprise retention/expansion), supported by improving profitability and robust free cash flow. These positives are tempered by a weak capital structure (negative equity and meaningful debt), a stretched valuation (very high P/E), and technicals that are improving but somewhat extended and still below the 200-day trend.
Positive Factors
Recurring SaaS Revenue and Retention
Workiva’s subscription-led model provides recurring revenue, while 97% gross retention limits customer loss and 111% net retention shows expansion within the installed base. This combination supports durable revenue visibility and creates a foundation for compounding growth through additional users, modules, and use cases.
Negative Factors
Weak Capital Structure
Negative equity alongside meaningful debt weakens Workiva’s financial flexibility and makes its capital structure less resilient during an operating slowdown. Although assets are stable, the company has less balance-sheet capacity to absorb adverse conditions, pursue major investments, or manage obligations without relying heavily on ongoing cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring SaaS Revenue and Retention
Workiva’s subscription-led model provides recurring revenue, while 97% gross retention limits customer loss and 111% net retention shows expansion within the installed base. This combination supports durable revenue visibility and creates a foundation for compounding growth through additional users, modules, and use cases.
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
$3.99B
Dividend YieldN/A
Average Volume (3M)1.35M
Price to Earnings (P/E)88.3
Beta (1Y)0.68
Revenue Growth19.67%
EPS GrowthN/A
CountryUS
Employees2,887
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.83
Shares Outstanding50,846,905
10 Day Avg. Volume2,210,889
30 Day Avg. Volume1,353,617
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 Cap0.68
Enterprise Value/Revenue2.79
Enterprise Value/Gross Profit3.48
Enterprise Value/Ebitda35.71
Forecast
1Y Price Target
$91.60Price Target Upside23.28% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)3.36
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 makes money by selling subscriptions to its cloud-based platform (SaaS). Customers pay recurring fees—typically under term-based contracts—to access Workiva’s applications and functionality for use cases such as SEC and financial...
Workiva Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operating and financial wins: 19% revenue growth, substantial margin expansion (16.8% Q2; full-year guide to 18%), robust retention (NRR 111%), expansion of large contract cohorts, and active product innovation with AI-enabled agents and an enterprise AI gateway. Challenges noted were largely manageable or structural: one-time services tailwinds, increased procurement/legal rigor that may lengthen some deals, FX sensitivity, and early-stage monetization of new AI capabilities. The balance of evidence points to durable demand, improving productivity and an accelerating enterprise footprint.Positive Updates
Strong Revenue Growth
Q2 total revenue $255M, up 19% year-over-year and beat the high end of guidance by $3M. Subscription revenue $236M, up 19% year-over-year.
Negative Updates
One-Time Services Tailwind
Part of the services revenue beat in Q2 was driven by one-time annual items (11-K filings). Management does not expect this to repeat in the back half, indicating potential volatility in services revenue.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Q2 total revenue $255M, up 19% year-over-year and beat the high end of guidance by $3M. Subscription revenue $236M, up 19% year-over-year.
Read all positive updates
Company Guidance
Workiva guided Q3 2026 total revenue of $260–$262 million, with services revenue expected to be up slightly year‑over‑year and non‑GAAP operating margin of 17.0–17.5%; for full‑year 2026 it expects total revenue of $1.040–$1.044 billion, subscription revenue to grow ~19% YoY, services revenue to be up slightly, raised full‑year non‑GAAP operating margin to ~18% (a 150‑bp raise vs. the prior high‑end and an >800‑bp YoY improvement) and raised its free cash flow margin target to ~21% (up 100 bps), while assuming FX rates remain roughly in line with June 2026 levels for a minimal back‑half FX impact—moves that follow Q2 results of $255M total revenue (+19% YoY), $236M subscription revenue (+19%), and a Q2 non‑GAAP operating margin of 16.8%.Workiva Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
38
Negative
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 965.70M | 884.57M | 738.68M | 630.04M | 537.88M | 443.29M |
| Gross Profit | 774.58M | 694.14M | 566.63M | 475.82M | 407.99M | 339.45M |
| EBITDA | 75.49M | 1.35M | -25.57M | -59.32M | -72.75M | -19.84M |
| Net Income | 47.04M | -26.17M | -55.04M | -127.53M | -90.95M | -37.73M |
Balance Sheet | ||||||
| Total Assets | 1.37B | 1.49B | 1.37B | 1.22B | 819.62M | 786.76M |
| Cash, Cash Equivalents and Short-Term Investments | 815.24M | 891.62M | 816.42M | 813.72M | 430.79M | 530.45M |
| Total Debt | 782.09M | 807.82M | 793.28M | 793.18M | 373.17M | 337.74M |
| Total Liabilities | 1.47B | 1.50B | 1.41B | 1.31B | 813.64M | 713.78M |
| Stockholders Equity | -97.08M | -5.44M | -41.68M | -89.39M | 5.98M | 72.98M |
Cash Flow | ||||||
| Free Cash Flow | 200.48M | 138.00M | 86.15M | 68.52M | 7.72M | 46.09M |
| Operating Cash Flow | 201.90M | 140.07M | 87.71M | 70.88M | 11.33M | 49.84M |
| Investing Cash Flow | -34.49M | -34.95M | -45.25M | -357.25M | -68.01M | -68.63M |
| Financing Cash Flow | -195.55M | -74.94M | 6.74M | 301.26M | -1.59M | -3.39M |
Workiva Technical Analysis
Positive
74.30
Price Trends
71.38
Positive
61.26
Positive
63.41
Positive
Market Momentum
0.14
Negative
55.12
Neutral
86.12
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WK, the sentiment is Positive. The current price of 74.3 is above the 20-day moving average (MA) of 71.28, above the 50-day MA of 71.38, and above the 200-day MA of 63.41, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 55.12 is Neutral, neither overbought nor oversold. The STOCH value of 86.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $3.76B | 37.23 | 12.46% | ― | 24.21% | 206.42% | |
68 Neutral | $1.19B | 32.31 | 8.99% | ― | 2.98% | -48.40% | |
67 Neutral | $3.99B | 88.25 | -123.75% | ― | 19.67% | ― | |
67 Neutral | $1.73B | 50.60 | 10.84% | ― | 8.62% | -58.32% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $3.82B | -390.51 | -0.30% | ― | 13.03% | -150.40% |
* Technology Sector Average
WK
Workiva
73.25
-15.25
-17.23%
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MNDY
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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.