Latest Ratios: P/E Ratio -112.7x · EV/EBITDA N/A · ROE N/A. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.0B | $4.9B | $6.1B | $5.5B | $4.4B | $6.7B | $4.4B | $1.9B | $1.6B | $891M | $555M |
| Enterprise Value | $3.4B | $5.3B | $6.6B | $6.0B | $4.6B | $6.7B | $4.4B | $1.9B | $1.5B | $850M | $525M |
| P/E Ratio → | -112.68 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.36 | 5.49 | 8.21 | 8.72 | 8.27 | 15.05 | 12.62 | 6.54 | 6.41 | 4.28 | 3.11 |
| P/B Ratio | — | — | — | — | 743.20 | 91.42 | 69.06 | 35.92 | — | — | — |
| P/FCF | 21.54 | 35.17 | 70.36 | 80.17 | 576.28 | 144.75 | 142.85 | 71.90 | 311.57 | 215.39 | — |
| P/OCF | 21.22 | 34.65 | 69.11 | 77.50 | 392.32 | 133.85 | 133.53 | 62.97 | 244.72 | 161.35 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.02 | 8.87 | 9.57 | 8.51 | 15.13 | 12.64 | 6.34 | 6.17 | 4.09 | 2.94 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 38.57 | 76.06 | 88.01 | 593.51 | 145.56 | 143.06 | 69.74 | 299.80 | 205.54 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.5% | 78.5% | 76.7% | 75.5% | 75.9% | 76.6% | 74.4% | 71.5% | 73.0% | 71.0% | 71.1% |
| Operating Margin | -4.8% | -4.8% | -10.4% | -15.0% | -16.5% | -6.6% | -10.8% | -15.2% | -20.4% | -21.3% | -24.4% |
| Net Profit Margin | -3.0% | -3.0% | -7.5% | -20.2% | -16.9% | -8.5% | -13.8% | -15.9% | -20.5% | -21.4% | -24.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -230.4% | -55.0% | -81.7% | -213.6% | — | — | -389.3% |
| ROA | -1.8% | -1.8% | -4.3% | -12.5% | -11.3% | -5.1% | -7.2% | -10.9% | -25.8% | -29.5% | -30.6% |
| ROIC | -7.0% | -7.0% | -12.8% | -24.2% | -53.4% | -24.3% | -84.9% | — | — | — | — |
| ROCE | -5.6% | -5.6% | -10.1% | -16.5% | -32.1% | -10.4% | -9.1% | -20.3% | -146.6% | -123.7% | -84.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 62.37 | 4.63 | 5.13 | 5.96 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | 22.22 | 0.51 | 0.11 | -1.08 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 3.40 | 5.70 | 7.84 | 17.23 | 0.81 | 0.22 | -2.16 | -11.77 | -9.85 | — |
| Interest Coverage | -0.75 | -0.75 | -2.84 | -1.31 | -13.73 | -1.79 | -2.49 | -6.85 | -26.27 | -23.05 | -22.44 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.57 | 1.57 | 1.77 | 2.08 | 1.47 | 1.02 | 2.25 | 2.46 | 0.93 | 0.89 | 0.98 |
| Quick Ratio | 1.57 | 1.57 | 1.77 | 2.08 | 1.47 | 1.02 | 2.25 | 2.46 | 0.93 | 0.89 | 0.98 |
| Cash Ratio | 1.20 | 1.20 | 1.38 | 1.68 | 1.06 | 0.82 | 1.88 | 2.10 | 0.51 | 0.59 | 0.63 |
| Asset Turnover | — | 0.59 | 0.54 | 0.52 | 0.66 | 0.56 | 0.50 | 0.47 | 1.06 | 1.32 | 1.25 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 74.01 | 78.42 | 76.80 | 76.67 | 66.19 | 74.83 | 76.78 | 99.02 | 52.28 | 49.20 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 4.6% | 2.8% | 1.4% | 1.2% | 0.2% | 0.7% | 0.7% | 1.4% | 0.3% | 0.5% | — |
| Buyback Yield | 2.4% | 1.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 2.4% | 1.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% |
| Shares Outstanding | — | $56M | $55M | $54M | $53M | $51M | $48M | $46M | $44M | $42M | $41M |
Regulatory mandate adoption velocity
According to current market data, Workiva trades at a forward P/E of 16.85 and a P/S of 3.11, suggesting that investors are pricing in significant future margin expansion rather than current GAAP profitability, which remains inconsistent compared to more mature software-as-a-service peers in the sector.
The valuation appears to hinge on the company's ability to transition from a high-growth, high-spend model to a sustainable profit generator. While the forward P/E suggests a more reasonable entry point than historical multiples, the lack of a positive TTM P/E ratio warrants caution regarding the underlying earnings quality and the sustainability of current growth rates.
Based on reported financial figures, Workiva's ROIC has struggled to break into positive territory, hovering at 2.5% in 2026Q1, which indicates that the company is still in the process of proving its ability to generate returns above its cost of capital as it scales operations.
The historical trend of negative ROIC reflects the heavy investment in sales and marketing required to capture market share in the regulatory reporting space. Investors should monitor whether the recent shift toward positive operating margins can be sustained to drive a more meaningful improvement in capital returns over the coming fiscal years.
As reported in recent quarterly filings, the company's DSO has fluctuated between 55 and 70 days, suggesting that while Workiva maintains a degree of control over its receivables, the timing of professional services revenue can create variability in cash collection cycles compared to pure-play subscription models.
The relatively stable DPO suggests that the company manages its supplier relationships effectively, though the lack of inventory data is expected given the software-centric business model. The efficiency of the cash conversion cycle remains a critical metric to watch as the company attempts to optimize its working capital while expanding its enterprise customer base.
Institutional analysts frequently misapply GAAP net income as a primary performance metric for Workiva, which obscures the company's true operational progress by failing to account for the significant non-cash impact of stock-based compensation and the timing of deferred revenue recognition inherent in the subscription model.
Investors should instead focus on free cash flow margins and adjusted EBITDA to better gauge the underlying earning power of the platform. Relying on GAAP figures may lead to an overly pessimistic view of the company's financial health, as these metrics are heavily influenced by accounting choices that do not necessarily reflect the cash-generating capability of the core business.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying WK stock.
Workiva Inc.'s current P/E ratio is -112.7x. This places it at the 50th percentile of its historical range.
Based on historical data, Workiva Inc. is trading at a P/E of -112.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Workiva Inc. has 78.5% gross margin and -4.8% operating margin.