WORKDAY Reports Q2 Earnings Results for FY2024, Ending July 31, 2023
August 31, 2023
🌥️Earnings Overview
WORKDAY ($NASDAQ:WDAY) released its financial results for Q2 FY2024, which ended on July 31 2023, on August 24 2023. This quarter, the company saw a 16.3% increase in total revenue of USD 1786.8 million compared to the same period last year. Furthermore, WORKDAY had a net income of USD 78.7 million in Q2, compared to the negative number of -64.2 million previously.
Stock Price
WORKDAY, a cloud-based enterprise software company, announced its earnings results for the second quarter of fiscal year 2024, which ended on July 31, 2023. On Thursday, WORKDAY stock opened at $234.4 and closed at $224.9, down by 2.3% from previous closing price of 230.2. Overall, WORKDAY’s financial performance was solid in the second quarter of FY2024, with revenue and income growth in line with expectations. Despite the slight dip in stock price, investors remain optimistic about the company’s long-term prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Workday. More…
| Total Revenues | Net Income | Net Margin |
| 6.72k | -121.62 | -1.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Workday. More…
| Operations | Investing | Financing |
| 1.81k | -1.65k | -1.21k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Workday. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.74k | 7.46k | 24.04 |
Key Ratios Snapshot
Some of the financial key ratios for Workday are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.9% | – | 1.5% |
| FCF Margin | ROE | ROA |
| 22.9% | 1.1% | 0.5% |
Analysis
At GoodWhale, we have conducted an analysis of WORKDAY‘s financials and have come to a conclusion that this is a medium risk investment. This is based on our Risk Rating which assesses the financial and business aspects of a company. When examining the cashflow statements, two risk warnings were detected, both of which are non-financial in nature. If you’d like to learn more about these warnings and how they could impact your investment, then be sure to register with us. With us, you’ll have access to all the information you need to make an informed decision. More…
Peers
Its main competitors are Paycom Software Inc, Ramco Systems Ltd, and House Of Control Group AS. All three companies offer similar products and services, but each has its own strengths and weaknesses.
– Paycom Software Inc ($NYSE:PAYC)
Paycom Software Inc is a provider of cloud-based human capital management software. The company offers a comprehensive solution that allows businesses to manage the entire employee life cycle from recruitment to retirement. Paycom’s software is designed to automate and streamline HR processes, including payroll, time and attendance, benefits, and talent management.
– Ramco Systems Ltd ($BSE:532370)
Ramco Systems is a global enterprise software company that provides enterprise resource planning (ERP), financial management, human capital management, and supply chain management solutions. The company has a market cap of 7.77 billion as of 2022 and a return on equity of -11.06%. The company’s products are used by organizations in a variety of industries, including aerospace and defense, automotive, banking and financial services, construction, engineering and manufacturing, government, healthcare, and hospitality.
– House Of Control Group AS ($OTCPK:HSCNF)
The company’s market cap is 61.39M as of 2022, a Return on Equity of -47.4%. The company’s products and services include software development, web design, and e-commerce solutions. The company has been in business since 2002 and is headquartered in Norway.
Summary
WORKDAY‘s strong second quarter results have been well received by investors, with total revenue increasing 16.3% year-on-year and net income climbing from a loss to a positive figure. The company is performing well, and its ability to generate consistent revenue and profits has attracted investor attention. Its financial strength and market outlook remain attractive for long-term investors who are looking for a reliable stock with reliable returns. In the short-term, the stock is likely to remain volatile due to a variety of external factors, but its long-term prospects remain positive.
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