Intrinsic value of Workiva Cl A - WK

Previous Close

$19.90

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

  Value-price divergence*

-133%

Previous close

$19.90

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

 
Value-price divergence*

-133%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of WK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  23.45
  15.60
  14.54
  13.59
  12.73
  11.95
  11.26
  10.63
  10.07
  9.56
  9.11
  8.70
  8.33
  7.99
  7.69
  7.42
  7.18
  6.96
  6.77
  6.59
  6.43
  6.29
  6.16
  6.04
  5.94
  5.85
  5.76
  5.68
  5.62
  5.55
  5.50
Revenue, $m
  179
  207
  237
  269
  303
  340
  378
  418
  460
  504
  550
  598
  648
  700
  754
  809
  868
  928
  991
  1,056
  1,124
  1,195
  1,268
  1,345
  1,425
  1,508
  1,595
  1,686
  1,781
  1,879
  1,983
Variable operating expenses, $m
 
  201
  230
  262
  295
  330
  367
  406
  447
  490
  535
  581
  630
  680
  732
  787
  843
  902
  963
  1,027
  1,093
  1,161
  1,233
  1,307
  1,385
  1,466
  1,550
  1,639
  1,731
  1,827
  1,927
Fixed operating expenses, $m
 
  50
  51
  53
  54
  55
  57
  58
  60
  61
  63
  64
  66
  68
  69
  71
  73
  75
  76
  78
  80
  82
  84
  86
  89
  91
  93
  95
  98
  100
  103
Total operating expenses, $m
  222
  251
  281
  315
  349
  385
  424
  464
  507
  551
  598
  645
  696
  748
  801
  858
  916
  977
  1,039
  1,105
  1,173
  1,243
  1,317
  1,393
  1,474
  1,557
  1,643
  1,734
  1,829
  1,927
  2,030
Operating income, $m
  -44
  -44
  -45
  -45
  -46
  -46
  -46
  -47
  -47
  -47
  -47
  -48
  -48
  -48
  -48
  -48
  -48
  -49
  -49
  -49
  -49
  -49
  -49
  -49
  -49
  -49
  -48
  -48
  -48
  -48
  -47
EBITDA, $m
  -40
  -40
  -40
  -39
  -39
  -38
  -38
  -37
  -36
  -36
  -35
  -34
  -33
  -32
  -31
  -30
  -29
  -28
  -26
  -25
  -24
  -22
  -20
  -19
  -17
  -15
  -13
  -10
  -8
  -5
  -3
Interest expense (income), $m
  2
  2
  2
  4
  6
  8
  11
  13
  16
  19
  22
  25
  28
  31
  34
  38
  42
  45
  49
  53
  58
  62
  67
  72
  77
  82
  87
  93
  99
  105
  112
Earnings before tax, $m
  -44
  -46
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
  -79
  -83
  -86
  -90
  -94
  -98
  -102
  -107
  -111
  -116
  -120
  -125
  -130
  -136
  -141
  -147
  -153
  -159
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -44
  -46
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
  -79
  -83
  -86
  -90
  -94
  -98
  -102
  -107
  -111
  -116
  -120
  -125
  -130
  -136
  -141
  -147
  -153
  -159

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  63
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  143
  165
  189
  215
  242
  271
  302
  334
  368
  403
  440
  478
  518
  559
  602
  647
  693
  741
  791
  844
  898
  954
  1,013
  1,074
  1,138
  1,205
  1,274
  1,347
  1,422
  1,501
  1,584
Adjusted assets (=assets-cash), $m
  80
  165
  189
  215
  242
  271
  302
  334
  368
  403
  440
  478
  518
  559
  602
  647
  693
  741
  791
  844
  898
  954
  1,013
  1,074
  1,138
  1,205
  1,274
  1,347
  1,422
  1,501
  1,584
Revenue / Adjusted assets
  2.238
  1.255
  1.254
  1.251
  1.252
  1.255
  1.252
  1.251
  1.250
  1.251
  1.250
  1.251
  1.251
  1.252
  1.252
  1.250
  1.253
  1.252
  1.253
  1.251
  1.252
  1.253
  1.252
  1.252
  1.252
  1.251
  1.252
  1.252
  1.252
  1.252
  1.252
Average production assets, $m
  45
  52
  59
  67
  76
  85
  94
  104
  115
  126
  137
  149
  161
  174
  188
  202
  216
  231
  247
  263
  280
  298
  316
  335
  355
  376
  397
  420
  443
  468
  494
Working capital, $m
  -2
  -21
  -24
  -27
  -30
  -34
  -38
  -42
  -46
  -50
  -55
  -60
  -65
  -70
  -75
  -81
  -87
  -93
  -99
  -106
  -112
  -119
  -127
  -135
  -142
  -151
  -160
  -169
  -178
  -188
  -198
Total debt, $m
  21
  24
  45
  69
  93
  119
  147
  176
  206
  238
  271
  305
  341
  378
  417
  457
  499
  542
  587
  634
  683
  734
  787
  842
  899
  959
  1,022
  1,087
  1,155
  1,226
  1,300
Total liabilities, $m
  146
  149
  170
  194
  218
  244
  272
  301
  331
  363
  396
  430
  466
  503
  542
  582
  624
  667
  712
  759
  808
  859
  912
  967
  1,024
  1,084
  1,147
  1,212
  1,280
  1,351
  1,425
Total equity, $m
  -3
  17
  19
  22
  24
  27
  30
  33
  37
  40
  44
  48
  52
  56
  60
  65
  69
  74
  79
  84
  90
  95
  101
  107
  114
  120
  127
  135
  142
  150
  158
Total liabilities and equity, $m
  143
  166
  189
  216
  242
  271
  302
  334
  368
  403
  440
  478
  518
  559
  602
  647
  693
  741
  791
  843
  898
  954
  1,013
  1,074
  1,138
  1,204
  1,274
  1,347
  1,422
  1,501
  1,583
Debt-to-equity ratio
  -7.000
  1.440
  2.400
  3.190
  3.840
  4.390
  4.860
  5.260
  5.600
  5.900
  6.160
  6.380
  6.580
  6.760
  6.920
  7.070
  7.200
  7.310
  7.420
  7.520
  7.610
  7.690
  7.770
  7.840
  7.900
  7.960
  8.020
  8.070
  8.120
  8.170
  8.210
Adjusted equity ratio
  -0.825
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -44
  -46
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
  -79
  -83
  -86
  -90
  -94
  -98
  -102
  -107
  -111
  -116
  -120
  -125
  -130
  -136
  -141
  -147
  -153
  -159
Depreciation, amort., depletion, $m
  4
  5
  5
  6
  7
  8
  8
  9
  10
  11
  12
  13
  15
  16
  17
  18
  19
  21
  22
  24
  25
  27
  28
  30
  32
  34
  36
  38
  40
  42
  44
Funds from operations, $m
  6
  -42
  -42
  -43
  -45
  -47
  -49
  -51
  -52
  -54
  -57
  -59
  -61
  -63
  -66
  -68
  -71
  -73
  -76
  -79
  -81
  -84
  -87
  -90
  -93
  -97
  -100
  -103
  -107
  -111
  -114
Change in working capital, $m
  16
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
Cash from operations, $m
  -10
  -39
  -39
  -40
  -42
  -43
  -45
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -60
  -62
  -65
  -67
  -70
  -72
  -75
  -77
  -80
  -83
  -85
  -88
  -91
  -94
  -97
  -101
  -104
Maintenance CAPEX, $m
  0
  -4
  -5
  -5
  -6
  -7
  -8
  -8
  -9
  -10
  -11
  -12
  -13
  -15
  -16
  -17
  -18
  -19
  -21
  -22
  -24
  -25
  -27
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -42
New CAPEX, $m
  -2
  -7
  -7
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
Cash from investing activities, $m
  4
  -11
  -12
  -13
  -15
  -16
  -18
  -18
  -19
  -21
  -22
  -24
  -25
  -28
  -29
  -31
  -32
  -34
  -37
  -38
  -41
  -43
  -45
  -47
  -50
  -53
  -56
  -59
  -62
  -65
  -68
Free cash flow, $m
  -6
  -50
  -51
  -53
  -56
  -59
  -62
  -65
  -68
  -71
  -75
  -78
  -82
  -86
  -89
  -93
  -97
  -102
  -106
  -110
  -115
  -120
  -125
  -130
  -135
  -141
  -147
  -153
  -159
  -165
  -172
Issuance/(repayment) of debt, $m
  -2
  3
  22
  23
  25
  26
  27
  29
  30
  32
  33
  34
  36
  37
  39
  40
  42
  43
  45
  47
  49
  51
  53
  55
  57
  60
  62
  65
  68
  71
  74
Issuance/(repurchase) of shares, $m
  2
  66
  49
  52
  55
  57
  60
  63
  66
  69
  73
  76
  79
  83
  87
  91
  95
  99
  103
  107
  112
  117
  122
  127
  132
  137
  143
  148
  154
  161
  167
Cash from financing (excl. dividends), $m  
  -1
  69
  71
  75
  80
  83
  87
  92
  96
  101
  106
  110
  115
  120
  126
  131
  137
  142
  148
  154
  161
  168
  175
  182
  189
  197
  205
  213
  222
  232
  241
Total cash flow (excl. dividends), $m
  -7
  19
  20
  22
  23
  24
  26
  27
  28
  30
  31
  32
  33
  35
  36
  38
  39
  41
  42
  44
  46
  48
  49
  52
  54
  56
  58
  61
  64
  66
  69
Retained Cash Flow (-), $m
  29
  -66
  -49
  -52
  -55
  -57
  -60
  -63
  -66
  -69
  -73
  -76
  -79
  -83
  -87
  -91
  -95
  -99
  -103
  -107
  -112
  -117
  -122
  -127
  -132
  -137
  -143
  -148
  -154
  -161
  -167
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -47
  -29
  -30
  -32
  -33
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -53
  -56
  -58
  -61
  -64
  -66
  -69
  -72
  -75
  -78
  -81
  -84
  -88
  -91
  -94
  -98
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -45
  -27
  -26
  -26
  -26
  -25
  -24
  -24
  -23
  -22
  -21
  -20
  -18
  -17
  -16
  -14
  -13
  -11
  -10
  -8
  -7
  -6
  -5
  -4
  -3
  -2
  -2
  -1
  -1
  -1
Current shareholders' claim on cash, %
  100
  50.0
  12.5
  3.3
  0.9
  0.3
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Workiva Inc. provides cloud solutions for enterprises to improve productivity, accountability, and insight in business data in the United States. It offers solutions for finance and accounting, audit and internal controls, risk and compliance, and operations markets. The company provides Wdesk, a work management platform to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports. Its proprietary, word processing, spreadsheet, and presentation applications are integrated and built a data management engine that allows work anytime from anywhere with an Internet connection. The company serves organizations, including Fortune 500 companies. Workiva Inc. was founded in 2008 and is headquartered in Ames, Iowa.

FINANCIAL RATIOS  of  Workiva Cl A (WK)

Valuation Ratios
P/E Ratio -18.7
Price to Sales 4.6
Price to Book -273.7
Price to Tangible Book
Price to Cash Flow -82.1
Price to Free Cash Flow -68.4
Growth Rates
Sales Growth Rate 23.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -27.5%
Financial Strength
Quick Ratio 63
Current Ratio 0
LT Debt to Equity -666.7%
Total Debt to Equity -700%
Interest Coverage -21
Management Effectiveness
Return On Assets -29.3%
Ret/ On Assets - 3 Yr. Avg. -29.5%
Return On Total Capital -131.3%
Ret/ On T. Cap. - 3 Yr. Avg. -93.4%
Return On Equity -382.6%
Return On Equity - 3 Yr. Avg. -218.3%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 70.9%
Gross Margin - 3 Yr. Avg. 71.1%
EBITDA Margin -21.2%
EBITDA Margin - 3 Yr. Avg. -25.9%
Operating Margin -24%
Oper. Margin - 3 Yr. Avg. -29.3%
Pre-Tax Margin -24.6%
Pre-Tax Margin - 3 Yr. Avg. -30.2%
Net Profit Margin -24.6%
Net Profit Margin - 3 Yr. Avg. -30.2%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

WK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WK stock intrinsic value calculation we used $179 million for the last fiscal year's total revenue generated by Workiva Cl A. The default revenue input number comes from 2016 income statement of Workiva Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WK stock valuation model: a) initial revenue growth rate of 15.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for WK is calculated based on our internal credit rating of Workiva Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Workiva Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WK stock the variable cost ratio is equal to 97.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $49 million in the base year in the intrinsic value calculation for WK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.1% for Workiva Cl A.

Corporate tax rate of 27% is the nominal tax rate for Workiva Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WK are equal to 24.9%.

Life of production assets of 11.1 years is the average useful life of capital assets used in Workiva Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WK is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-3 million for Workiva Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 41.107 million for Workiva Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Workiva Cl A at the current share price and the inputted number of shares is $0.8 billion.

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COMPANY NEWS

▶ Workiva, Inc. Value Analysis (NYSE:WK) : August 17, 2017   [Aug-16-17 11:21PM  Capital Cube]
▶ Workiva Beats Guidance and Raises Outlook   [Aug-05-17 09:20AM  Motley Fool]
▶ Workiva Announces Second Quarter 2017 Financial Results   [Aug-03-17 04:15PM  Business Wire]
▶ Workiva to Report Second Quarter 2017 Results   [Jul-06-17 04:15PM  Business Wire]
▶ This Tech Titan Is Partying Like It's 1999 After EPS And Sales Beat   [Jun-22-17 04:33PM  Investor's Business Daily]
▶ Workiva Simplifies SOX Compliance for AAON   [May-31-17 09:03AM  Business Wire]
▶ ETFs with exposure to Workiva, Inc. : May 22, 2017   [May-22-17 02:19PM  Capital Cube]
▶ Workiva to Present at Investor Conferences   [May-09-17 09:03AM  Business Wire]
▶ Workiva Sees Revenue Growth Slowing Further   [May-05-17 08:24PM  Motley Fool]
▶ Workiva reports 1Q loss   [May-04-17 07:27PM  Associated Press]
▶ ETFs with exposure to Workiva, Inc. : April 7, 2017   [Apr-07-17 05:47PM  Capital Cube]
▶ Workiva to Report First Quarter 2017 Results   [Apr-04-17 09:00AM  Business Wire]
▶ Workiva and Armanino Create Strategic Partnership   [Mar-21-17 09:45AM  Business Wire]
▶ Workiva Helps Smithfield Foods Centralize Internal Controls   [Mar-14-17 09:03AM  Business Wire]
▶ Workiva Opens Registration for Sixth Annual User Conference   [Mar-01-17 04:15PM  Business Wire]
▶ Workiva reports 4Q loss   [07:17PM  AP]
▶ Workiva to Present at Investor Conferences   [Feb-20-17 09:00AM  Business Wire]
▶ Workiva Wins 2017 BIG Innovation Award   [Feb-07-17 09:17AM  Business Wire]
▶ Workiva to Report Fourth Quarter and Full Year 2016 Results   [Jan-19-17 09:00AM  Business Wire]
▶ Workiva Expands Wdesk Across Meredith Corporation   [Dec-14-16 09:00AM  Business Wire]
▶ Workiva Helps Shopify Save Time with Wdesk SOX Solution   [Nov-22-16 04:15PM  Business Wire]
▶ Workiva Executive to Present at Upcoming Conferences   [Nov-15-16 09:00AM  Business Wire]
▶ Why Workiva Inc. Stock Fell Sharply   [Nov-10-16 12:42PM  at Motley Fool]
▶ Workiva to Report Third Quarter 2016 Results   [Oct-07-16 09:00AM  PR Newswire]
Stock chart of WK Financial statements of WK
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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