Workday, Inc.
For the period ended Jan 31, 2026. Filed Mar 6, 2026.
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FY2026 · Filed Mar 6, 2026
WDAY$188.89-0.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
| Year Ended January 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Cash flows from operating activities: | |||
| Net income | $693 | $526 | $1,381 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 347 | 326 | 282 |
| Share-based compensation expense | 1,626 | 1,519 | 1,416 |
| Amortization of deferred costs | 292 | 251 | 213 |
| Non-cash lease expense | 116 | 103 | 96 |
| Net (gains) losses on investments | (87) | 16 | 19 |
| Accretion of discounts on marketable debt securities, net | (61) | (113) | (149) |
| Deferred income taxes | 218 | 33 | (1,058) |
| Asset impairments | 117 | 19 | 0 |
| Other | 7 | (1) | (17) |
| Changes in operating assets and liabilities, net of business combinations: | |||
| Trade and other receivables, net | (360) | (313) | (87) |
| Deferred costs | (404) | (337) | (342) |
| Prepaid expenses and other assets | (14) | 50 | 69 |
| Accounts payable | 6 | 25 | (72) |
| Accrued expenses and other liabilities | (26) | (41) | (95) |
| Unearned revenue | 469 | 398 | 493 |
| Net cash provided by operating activities | 2,939 | 2,461 | 2,149 |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (2,721) | (4,786) | (6,150) |
| Maturities of marketable securities | 2,339 | 3,846 | 4,519 |
| Sales of marketable securities | 2,937 | 273 | 144 |
| Capital expenditures | (162) | (269) | (232) |
| Business combinations, net of cash acquired | (2,079) | (825) | (8) |
| Purchases of other intangible assets | 0 | (3) | (10) |
| Purchases of non-marketable equity and other investments | (21) | (22) | (16) |
| Sales of non-marketable equity and other investments | 19 | 5 | 2 |
| Other | 21 | 0 | 0 |
| Net cash provided by (used in) investing activities | 333 | (1,781) | (1,751) |
| Cash flows from financing activities: | |||
| Repurchases of common stock | (2,895) | (700) | (423) |
| Proceeds from issuance of common stock from employee equity plans | 192 | 186 | 177 |
| Taxes paid related to net share settlement of equity awards | (616) | (636) | (22) |
| Net cash used in financing activities | (3,319) | (1,150) | (268) |
| Effect of exchange rate changes | 2 | 0 | (1) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (45) | (470) | 129 |
| Cash, cash equivalents, and restricted cash at the beginning of period | 1,554 | 2,024 | 1,895 |
| Cash, cash equivalents, and restricted cash at the end of period | $1,509 | $1,554 | $2,024 |
| Year Ended January 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Supplemental cash flow data: | |||
| Cash paid for interest | $110 | $110 | $110 |
| Non-cash investing and financing activities: | |||
| Purchases of property and equipment, accrued but not paid | 64 | 27 | 52 |
| Taxes related to net share settlement of equity awards, accrued but not paid | 11 | 13 | 0 |
| As of January 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Reconciliation of cash, cash equivalents, and restricted cash as shown in the Consolidated Statements of Cash Flows: | |||
| Cash and cash equivalents | $1,501 | $1,543 | $2,012 |
| Restricted cash included in Prepaid expenses and other current assets | 8 | 11 | 12 |
| Total cash, cash equivalents, and restricted cash | $1,509 | $1,554 | $2,024 |
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