At the latest data point for Q1'27, Workday (WDAY) reported Cash & Short-term Investments of $4.35B and total Debt of $1.82B. This reflects a significant reduction in both balances compared to the previous quarter, though the company maintains a net cash position. From Q2'24 to Q1'27, the company's cash reserves showed a growth trend peaking at $8.19B in Q2'26 before experiencing a sharp decline over the next three quarters. Debt levels remained relatively stable near $3.3B to $3.8B for most of the period, but saw a substantial decrease of approximately 52% in Q1'27. Overall, while liquid assets have recently trended downward, the simultaneous reduction in debt has significantly altered the company's capital structure.