Atlassian vs Workday
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The short version
- Workday is the larger business, with $9.6B of revenue in fiscal 2026 against $6.6B for Atlassian.
- Atlassian grew revenue faster (26.0%, against 13.1%).
- Workday kept more of each dollar of sales as operating profit (7.6% operating margin, against 0.2%).
- Workday turned more of its sales into free cash flow (29.1% FCF margin, against 20.1%).
| Latest fiscal year | TEAM · FY26 | WDAY · FY26 |
|---|---|---|
| Size | ||
| Market cap | $59.2B | $51.7B |
| Revenue | $6.6B | $9.6B |
| Free cash flow | $1.3B | $2.8B |
| Net income | −$53.8M | $693M |
| Growth | ||
| Revenue growth | 26.0% | 13.1% |
| 5-year growth | 25.8% | 17.2% |
| Share count change | −0.6% | −0.4% |
| Profitability | ||
| Gross margin | 84.8% | — |
| Operating margin | 0.2% | 7.6% |
| Net margin | −0.8% | 7.3% |
| FCF margin | 20.1% | 29.1% |
| Return on capital | — | 10.6% |
| Return on equity | −4.5% | 8.2% |
| Balance sheet | ||
| Net debt | −$250M | −$2.5B |
| Net debt / EBITDA | −1.7x | −2.6x |
| Dividends and buybacks | $1.8B | $2.9B |
| Valuation & quality | ||
| P/E | — | 42.5x |
| Piotroski F-score | 7 | 7 |
Revenue
FY17
TEAM $620M
WDAY $1.6B
FY18
TEAM $874M
WDAY $2.1B
FY19
TEAM $1.2B
WDAY $2.8B
FY20
TEAM $1.6B
WDAY $3.6B
FY21
TEAM $2.1B
WDAY $4.3B
FY22
TEAM $2.8B
WDAY $5.1B
FY23
TEAM $3.5B
WDAY $6.2B
FY24
TEAM $4.4B
WDAY $7.3B
FY25
TEAM $5.2B
WDAY $8.4B
FY26
TEAM $6.6B
WDAY $9.6B
TEAM
WDAY
Operating margin
FY17
TEAM −9.0%
WDAY −22.4%
FY18
TEAM −5.3%
WDAY −14.2%
FY19
TEAM −5.2%
WDAY −16.4%
FY20
TEAM 0.9%
WDAY −13.9%
FY21
TEAM 6.8%
WDAY −5.8%
FY22
TEAM 2.5%
WDAY −2.3%
FY23
TEAM −9.8%
WDAY −3.6%
FY24
TEAM −2.7%
WDAY 2.5%
FY25
TEAM −2.5%
WDAY 4.9%
FY26
TEAM 0.2%
WDAY 7.6%
TEAM
WDAY
Free cash flow
FY17
TEAM $198M
WDAY $230M
FY18
TEAM $281M
WDAY $324M
FY19
TEAM $422M
WDAY $404M
FY20
TEAM $539M
WDAY $621M
FY21
TEAM $758M
WDAY $1.0B
FY22
TEAM $750M
WDAY $1.4B
FY23
TEAM $842M
WDAY $1.3B
FY24
TEAM $1.4B
WDAY $1.9B
FY25
TEAM $1.4B
WDAY $2.2B
FY26
TEAM $1.3B
WDAY $2.8B
TEAM
WDAY
Return on capital
FY17
TEAM —
WDAY —
FY18
TEAM —
WDAY —
FY19
TEAM —
WDAY −16.4%
FY20
TEAM —
WDAY −18.3%
FY21
TEAM —
WDAY −11.8%
FY22
TEAM —
WDAY −5.4%
FY23
TEAM —
WDAY −6.8%
FY24
TEAM —
WDAY 6.4%
FY25
TEAM —
WDAY 9.4%
FY26
TEAM —
WDAY 10.6%
TEAM
WDAY
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.