Workiva Inc. (WK)
NYSE:WK
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Workiva
(NYSE:WK)
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Rating:58Neutral
Price Target:
$47.00
▼(-18.03% Downside)
Action:Reiterated
Date:05/09/26
The score is led by improving fundamentals and a strong earnings-call outlook (revenue beat, margin/FCF guidance raised, strong retention and large-deal expansion), but is held back by elevated financial risk from high debt with negative equity and weak technical momentum (price below key moving averages with negative MACD). Valuation is also a headwind due to the high P/E and no dividend yield support.
Positive Factors
Recurring revenue & retention
Strong recurring subscription growth, a 20% rise in cRPO and 112% net retention indicate durable revenue visibility and account expansion. These features underpin predictable cashflows, reduce renewal risk, and support multi-year upsell potential across finance, ESG and GRC use cases.
Negative Factors
High leverage & negative equity
Material debt coupled with negative equity constrains financial flexibility, elevates refinancing and covenant risk, and increases downside vulnerability if growth or margins slip. Capital structure stress can limit strategic moves and raise funding costs over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue & retention
Strong recurring subscription growth, a 20% rise in cRPO and 112% net retention indicate durable revenue visibility and account expansion. These features underpin predictable cashflows, reduce renewal risk, and support multi-year upsell potential across finance, ESG and GRC 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
$2.82B
Dividend YieldN/A
Average Volume (3M)1.27M
Price to Earnings (P/E)44.6
Beta (1Y)0.74
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. Volume1,286,423
30 Day Avg. Volume1,274,255
Financial Highlights & Ratios
PEG Ratio3.53
Price to Book (P/B)-892.84
Price to Sales (P/S)5.49
P/FCF Ratio35.17
Enterprise Value/Market Cap1.16
Enterprise Value/Revenue3.55
Enterprise Value/Gross Profit4.47
Enterprise Value/Ebitda100.88
Forecast
1Y Price Target
$74.14Price Target Upside29.30% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)2.71
Revenue Forecast (FY)$1.04B
Workiva Business Overview & Revenue Model
Company Description
Workiva Inc., together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permiss...
How the Company Makes Money
Workiva primarily makes money by selling subscriptions to its cloud-based software platform and related solutions. Revenue is mainly generated from recurring SaaS subscription fees paid by customers (typically enterprises) to access the Workiva pl...
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 | 32.53M | 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
Negative
57.34
Price Trends
55.20
Negative
64.03
Negative
74.46
Negative
Market Momentum
-1.96
Negative
46.08
Neutral
68.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WK, the sentiment is Negative. The current price of 57.34 is above the 20-day moving average (MA) of 50.81, above the 50-day MA of 55.20, and below the 200-day MA of 74.46, indicating a bearish trend. The MACD of -1.96 indicates Negative momentum. The RSI at 46.08 is Neutral, neither overbought nor oversold. The STOCH value of 68.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | $8.03B | 30.95 | 77.45% | 2.11% | 17.39% | -31.63% | |
70 Outperform | $2.61B | -118.25 | 18.54% | ― | 15.92% | ― | |
62 Neutral | $1.06B | 16.46 | 8.36% | ― | 3.64% | 230.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $1.70B | 67.66 | 7.70% | ― | 8.12% | -82.54% | |
58 Neutral | $2.82B | 44.64 | -46.74% | ― | 20.32% | ― | |
49 Neutral | $6.36B | 61.00 | 1.11% | ― | 40.10% | ― |
* Technology Sector Average
WK
Workiva
50.31
-16.88
-25.12%
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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.