Workiva Inc. Class A Common Stock (WK)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the record. Workiva's filed figures show revenue rising from $630.0 million in FY2023 to $738.7 million in FY2024 and $884.6 million in FY2025. Losses narrowed from $127.5 million to $55.0 million to $26.2 million over those years. More recently, fiscal Q1 2026 produced $19.0 million of net income and fiscal Q2 2026 produced $13.4 million, while fiscal Q3 2025 had $2.8 million. That is real progress, and trailing free cash flow is $200.1 million, a 4.9% FCF yield. The platform's data-linking and audit-trail functions may create switching costs, but I cannot call it a wide moat until profits are consistent. Financial health is mixed: Piotroski 6/9, but Altman Z-Score 1.45 and ROCE 1.45% are weak. Valuation is the rub. At the 2026-10-13 close of $72.50, the FairStock-calculated P/E is 86.31, EV/EBITDA is 60.99, and FairStock Score is 34/100. PEG is 0.51, which offers some growth-adjusted comfort, but Graham would demand a margin of safety that these multiples do not provide. The company must keep compounding revenue near its recent pace and turn quarterly profits into annual profits. Until then, the stock looks like a good business priced for near-perfection rather than a bargain.

In plain English: Workiva sells cloud software that helps companies pull together and report financial and other business data. The business is growing and has started making money in recent quarters, but it lost money in each of the past few full years. At $72.50 a share, the price looks expensive compared with the profits reported so far, even though cash flow is positive.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer