WKWorkiva Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (7.1×) and margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is WK?
Workiva Inc. keeps 3.3% of every revenue dollar as operating profit, against 6.4% for the median Software - Application name.
Operating margin · Software - Application median 6.4% · 12 months to Q2 2026
- Cash conversion
- 7.12×
Cash conversion · operating cash flow covers the operating profit after tax
- Share count, year on year
- −0.04%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 22%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −11% |
| FY2021 | −6.6% |
| FY2022 | −17% |
| FY2023 | −15% |
| FY2024 | −10% |
| FY2025 | −4.8% |
Details›
- Gross margin12 months to Q2 2026
- 80%
- Operating margin12 months to Q2 2026
- 3.3%
- Net margin12 months to Q2 2026
- 4.9%
- Free cash flow margin
- 21%
- R&D as % of revenue
- 22%
- Revenue, trailing twelve months
- $966M
- Free cash flow, trailing twelve months
- $201M
- Net income, trailing twelve months
- $47M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Software, Application
Ranks #74 of 96 by RyuScore