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Side-by-side financial comparison of Equitable Holdings, Inc. (EQH) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
Equitable Holdings, Inc. is the larger business by last-quarter revenue ($3.3B vs $2.4B, roughly 1.3× Workday, Inc.). Workday, Inc. runs the higher net margin — 10.4% vs 6.6%, a 3.8% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs -9.5%). Over the past eight quarters, Equitable Holdings, Inc.'s revenue compounded faster (21.2% CAGR vs 12.5%).
Equitable Holdings, Inc. is an American financial services and insurance company that was founded in 1859 by Henry Baldwin Hyde.
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
EQH vs WDAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $2.4B |
| Net Profit | $215.0M | $252.0M |
| Gross Margin | — | — |
| Operating Margin | 10.5% | 10.6% |
| Net Margin | 6.6% | 10.4% |
| Revenue YoY | -9.5% | 12.6% |
| Net Profit YoY | -76.1% | 30.6% |
| EPS (diluted) | $0.69 | $0.94 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.3B | $2.4B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $2.4B | $2.2B | ||
| Q1 25 | $4.6B | $2.2B | ||
| Q4 24 | $3.6B | $2.2B | ||
| Q3 24 | $3.1B | $2.1B | ||
| Q2 24 | $3.5B | $2.0B | ||
| Q1 24 | $2.2B | $1.9B |
| Q4 25 | $215.0M | $252.0M | ||
| Q3 25 | $-1.3B | $228.0M | ||
| Q2 25 | $-349.0M | $68.0M | ||
| Q1 25 | $63.0M | $94.0M | ||
| Q4 24 | $899.0M | $193.0M | ||
| Q3 24 | $-134.0M | $132.0M | ||
| Q2 24 | $428.0M | $107.0M | ||
| Q1 24 | $114.0M | $1.2B |
| Q4 25 | 10.5% | 10.6% | ||
| Q3 25 | -93.0% | 10.6% | ||
| Q2 25 | -15.4% | 1.7% | ||
| Q1 25 | 3.8% | 3.4% | ||
| Q4 24 | 33.1% | 7.6% | ||
| Q3 24 | -0.5% | 5.3% | ||
| Q2 24 | 19.4% | 3.2% | ||
| Q1 24 | 11.1% | 4.1% |
| Q4 25 | 6.6% | 10.4% | ||
| Q3 25 | -90.3% | 9.7% | ||
| Q2 25 | -14.8% | 3.0% | ||
| Q1 25 | 1.4% | 4.3% | ||
| Q4 24 | 24.8% | 8.9% | ||
| Q3 24 | -4.4% | 6.3% | ||
| Q2 24 | 12.2% | 5.4% | ||
| Q1 24 | 5.1% | 61.8% |
| Q4 25 | $0.69 | $0.94 | ||
| Q3 25 | $-4.47 | $0.84 | ||
| Q2 25 | $-1.21 | $0.25 | ||
| Q1 25 | $0.16 | $0.34 | ||
| Q4 24 | $2.72 | $0.72 | ||
| Q3 24 | $-0.47 | $0.49 | ||
| Q2 24 | $1.23 | $0.40 | ||
| Q1 24 | $0.30 | $4.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $12.5B | $6.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-74.0M | $8.9B |
| Total Assets | $318.0B | $17.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5B | $6.8B | ||
| Q3 25 | $13.6B | $8.2B | ||
| Q2 25 | $15.0B | $8.0B | ||
| Q1 25 | $8.2B | $8.0B | ||
| Q4 24 | $7.0B | $7.2B | ||
| Q3 24 | $9.6B | $7.4B | ||
| Q2 24 | $9.7B | $7.2B | ||
| Q1 24 | $10.4B | $7.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
| Q4 25 | $-74.0M | $8.9B | ||
| Q3 25 | $148.0M | $9.2B | ||
| Q2 25 | $1.1B | $8.9B | ||
| Q1 25 | $2.4B | $9.0B | ||
| Q4 24 | $1.6B | $8.6B | ||
| Q3 24 | $3.2B | $8.3B | ||
| Q2 24 | $1.6B | $8.2B | ||
| Q1 24 | $2.0B | $8.1B |
| Q4 25 | $318.0B | $17.8B | ||
| Q3 25 | $314.4B | $18.0B | ||
| Q2 25 | $303.1B | $17.2B | ||
| Q1 25 | $287.4B | $18.0B | ||
| Q4 24 | $295.9B | $16.4B | ||
| Q3 24 | $299.0B | $16.2B | ||
| Q2 24 | $287.8B | $15.9B | ||
| Q1 24 | $285.6B | $16.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.37× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-154.0M | $588.0M |
| Free Cash FlowOCF − Capex | — | $550.0M |
| FCF MarginFCF / Revenue | — | 22.6% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | -0.72× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-154.0M | $588.0M | ||
| Q3 25 | $369.0M | $616.0M | ||
| Q2 25 | $341.0M | $457.0M | ||
| Q1 25 | $158.0M | $1.1B | ||
| Q4 24 | $400.0M | $406.0M | ||
| Q3 24 | $683.0M | $571.0M | ||
| Q2 24 | $892.0M | $372.0M | ||
| Q1 24 | $31.0M | $995.6M |
| Q4 25 | — | $550.0M | ||
| Q3 25 | — | $588.0M | ||
| Q2 25 | — | $421.0M | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $359.0M | ||
| Q3 24 | — | $516.0M | ||
| Q2 24 | — | $291.0M | ||
| Q1 24 | — | $947.6M |
| Q4 25 | — | 22.6% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 46.4% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 14.6% | ||
| Q1 24 | — | 49.3% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | -0.72× | 2.33× | ||
| Q3 25 | — | 2.70× | ||
| Q2 25 | — | 6.72× | ||
| Q1 25 | 2.51× | 11.83× | ||
| Q4 24 | 0.44× | 2.10× | ||
| Q3 24 | — | 4.33× | ||
| Q2 24 | 2.08× | 3.48× | ||
| Q1 24 | 0.27× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EQH
| Other | $1.5B | 46% |
| Asset Management | $1.2B | 37% |
| Wealth Management | $545.0M | 17% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
