WORKDAY Reports Record Earnings for FY2024 Q2, As of July 31 2023
August 27, 2023
🌥️Earnings Overview
On August 24 2023, WORKDAY ($NASDAQ:WDAY) released their earnings results for the second quarter of fiscal year 2024, ending July 31 2023, showing a total revenue of USD 1786.8 million, a 16.3% increase from the same period in the prior year. Net income was also reported at USD 78.7 million, a significant improvement from the -64.2 million reported in the corresponding quarter of the previous year.
Price History
On Thursday, WORKDAY reported record earnings for the Fiscal Year 2024 Q2, as of July 31 2023. The company’s stock opened at $234.4 and closed at $224.9, down by 2.3% from the previous closing price of 230.2. WORKDAY cited strong sales and improved operating margins as two of the major drivers of its increased profitability. This was the first full quarter that WORKDAY reported under its new CEO, who was appointed in June this year.
This is a testament to the company’s ability to adapt and innovate in a challenging economic environment. The company’s robust performance is a reflection of its efficient management and focus on growth. It will be interesting to see how the company continues to perform under its new CEO. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Workday. WORKDAY_Reports_Record_Earnings_for_FY2024_Q2_As_of_July_31_2023″>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. WORKDAY_Reports_Record_Earnings_for_FY2024_Q2_As_of_July_31_2023″>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. WORKDAY_Reports_Record_Earnings_for_FY2024_Q2_As_of_July_31_2023″>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. WORKDAY_Reports_Record_Earnings_for_FY2024_Q2_As_of_July_31_2023″>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 conducted an in-depth analysis of WORKDAY‘s financials. Based on our Star Chart, WORKDAY has a high health score of 9/10, indicating that it is capable of sustaining future operations in times of crisis. For this reason, we have classified WORKDAY as a ‘cheetah’, a type of company that is characterized by high revenue or earnings growth but is considered less stable due to lower profitability. Given its strengths in asset and growth, but weaknesses in dividend and profitability, WORKDAY is likely to be of interest to investors seeking high growth potential at the cost of some risk. Those with a higher risk tolerance may be particularly interested in this type of company. Nevertheless, the strong financial health score WORKDAY has achieved shows that it is in a good position to weather any storms that may arise. 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
Investors are encouraged by the strong second quarter earnings results reported by WORKDAY. This positive performance along with the company’s growth in customer base is a promising sign of profitability for the future. Investors should continue to monitor WORKDAY’s progress as it continues to expand its business operations and services.
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