# Workiva Inc. (WK)

> Source: Nexqual · https://nexqual.com/WK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Workiva Inc. (WK), nexqual.com/WK" · informational, not investment advice.

**Price:** USD 85.04 (+5.89% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 80.31 · day 81–85.09 · 52w 43.34–97.1 · market cap $4.63B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $966M, net income $47.0M (4.9% margin), free cash flow $201M (SEC filings).
- Valuation: P/E 98.4x, EV/EBITDA 107.3x, net cash $118M.
- 1 of 80 tracked superinvestors hold WK (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $626K; 3 not under a Rule 10b5-1 plan ($626K); 3 by opportunistic insiders (3 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y -5.2% vs S&P 500 +14.9%; 5Y -43.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.8, revenue estimate $261M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $443M | $538M | $630M | $739M | $885M | $966M |
| Gross profit | $339M | $408M | $476M | $567M | $694M | — |
| Operating income | -$29.4M | -$88.8M | -$94.5M | -$76.5M | -$42.4M | $31.4M |
| Net income | -$37.7M | -$90.9M | -$128M | -$55.0M | -$26.2M | $47.0M |
| EPS (diluted) | -$0.74 | -$1.72 | -$2.36 | -$0.99 | -$0.47 | — |
| Free cash flow | $46.3M | $7.9M | $68.8M | $86.3M | $138M | $201M |
| Gross margin | 76.6% | 75.9% | 75.5% | 76.7% | 78.5% | — |
| Operating margin | -6.6% | -16.5% | -15.0% | -10.4% | -4.8% | 3.3% |
| Net margin | -8.5% | -16.9% | -20.2% | -7.5% | -3.0% | 4.9% |
| Revenue growth | +26.1% | +21.3% | +17.1% | +17.2% | +19.7% | — |
| Cash + short-term investments | $530M | $431M | $814M | $816M | $892M | — |
| Total debt | $0K | $340M | $762M | $765M | $696M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 98.4x · P/S 4.8x · EV/EBITDA 107.3x · EV/Sales 4.7x · P/FCF 23.1x · FCF yield 4.33% · Earnings yield 1.02% · Buyback yield (TTM) 4.20% · Net cash $118M · EV $4.51B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold WK. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | 0.37% | $40.2M | Added +15.9% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-20 | Ziegler Brandon | EVP, CLO, CAO & Corp Secretary | 6,571 | $499K | 4.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-04 | Herz Robert H | Director | 1,500 | $77K | 2% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-29 | Herz Robert H | Director | 1,000 | $50K | 1.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-16 | Baird | Target raised | Outperform | $95 → $105 |
| 2026-09-11 | BTIG | Target raised | Buy | $70 → $80 |
| 2026-09-01 | Baird | Target raised | Outperform | $74 → $95 |
| 2026-08-05 | BTIG | Target lowered | Buy | $80 → $70 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -5.2% | -43.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -5.2% | -10.7% |
| Volatility (annualized) | 45.4% | 43.4% |
| Max drawdown | -52.5% (Nov 2025→May 2026) | -70.4% (Nov 2021→Jun 2026) |

## Peers (Software - Application)
APPF (AppFolio, Inc.) USD 217.33 +0.06% · DSGX (The Descartes Systems Group Inc) USD 94 +1.74% · TTAN (ServiceTitan, Inc.) USD 85.2 +3.50% · IDCC (InterDigital, Inc.) USD 332.06 -0.78% · YMM (Full Truck Alliance Co. Ltd.) USD 8.35 -1.76% · PCOR (Procore Technologies, Inc.) USD 62.29 +2.27%

## More
Full page: https://nexqual.com/WK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name WK in their own reports (relationship from WK's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | Energy Recovery, Inc. (ERII) | 10-K 2026-02-25 | "such as Microsoft Corporation, Workiva, Inc., and others, to review and notify their customers of any data breach." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription and support | $236.3M | 92.6% | +19.2% |
| Professional services | $19.0M | 7.4% | +11.9% |
| Total revenue | $255.3M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $182.1M | 71.3% | +15.3% |
| Other countries | $73.2M | 28.7% | +27.7% |
| Total revenue | $255.3M | 100% | — |

## Company outlook (8-K filed 2026-08-04)

- "Eastern Time to review the Company's financial results for the second quarter 2026, in addition to discussing the Company's outlook for the third quarter and full year 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.80 | $0.67 | +18.5% | $261.4M | 10 |
| Next quarter (ends 2026-12-31) | $1.03 | $0.82 | +25.5% | $278.1M | 10 |
| Current fiscal year (ends 2026-12-31) | $3.36 | $2.91 | +15.5% | $1.04B | 11 |
| Next fiscal year (ends 2027-12-31) | $4.05 | $3.49 | +16.1% | $1.20B | 11 |