Short answer
Workday, Inc. (WDAY) filed its fiscal 2026 10-K annual report with the SEC on Mar 6, 2026. It reported revenue of $9.6B (+13.1% year over year) and net income of $693M.
- Top risk flagged: EU AI Act compliance underway; GDPR non-compliance penalties up to 4% of worldwide revenue; U.S. DOJ Data Security Program effective April 8, 2025 restricts data transfers to China
FY2026 key financial metrics · XBRL
- Revenue
- $9.6B
- +13.1% YoY
- Net income
- $693M
- +31.7% YoY
- Operating margin
- 7.5%
- +2.6 pp YoY
- EPS (diluted)
- $2.59
- +32.8% YoY
- ROE
- 8.9%
- +3.1 pp YoY
- Operating cash flow
- $2.9B
- +19.4% YoY
Source: XBRL data from the Workday, Inc. (WDAY) FY2026 10-K on SEC EDGAR. USD.
Workday, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Enterprise cloud platform for HR and finance management, serving 11,500+ organizations including 65%+ of Fortune 500, with 75M+ users under contract
- Four AI-focused acquisitions in FY2026: FlowiseAI, Paradox, Sana Labs, and Pipedream; also launched Workday Build, Workday Data Cloud, and Workday Government as new offerings
- Strategic pivot to "enterprise AI platform" branding, with AI agents now central to product: new Flex Credits pricing model introduced for AI solutions to drive scalable adoption
- Global workforce over 21,000 employees across 36 countries as of January 31, 2026; 100% Code of Conduct training completion rate in FY2026
- Announced Workday Agent Partner Network including Microsoft partnership, enabling customers to register and manage Microsoft-built agents within Workday's Agent System of Record
Management Discussion & Analysis
- Revenue $9.6B, up 13% YoY; subscription $8.8B (+14%), professional services $719M (-1%)
- GAAP operating margin 7.5% vs 4.9%; non-GAAP operating margin 29.6% vs 25.9%
- Operating cash flow $2.9B vs $2.5B; free cash flow $2.8B vs $2.2B; capex $162M vs $269M
- Share repurchases $2.9B (12.8M shares); $2.9B remaining authorization; two acquisitions totaling $2.2B (Paradox + Sana)
- Key risks: extended sales cycles in government/higher ed/healthcare tied to federal funding; $303M restructuring costs; Fiscal 2027 plan targets additional ~2% workforce reduction
Risk Factors
- EU AI Act compliance underway; GDPR non-compliance penalties up to 4% of worldwide revenue; U.S. DOJ Data Security Program effective April 8, 2025 restricts data transfers to China
- Macroeconomic volatility driving customer delays in purchasing decisions, price concessions, and demand reduction; tariff concerns cited as specific pressure on enterprise software spending
- CEO transition February 2026: Aneel Bhusri replaced Carl Eschenbach; co-founder leadership change risks cultural disruption and talent retention
- Primary competitors Oracle and SAP have entrenched customer relationships; emerging threat from generic LLMs, "vibe coding," and agentic AI platforms potentially displacing purpose-built HCM/financials
- $3.0B senior notes outstanding (3.5%–3.8%, maturing 2027–2032) plus $1.0B revolving credit facility with leverage ratio covenant
Generated from the filing text; verify against the original. How to read a 10-K
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