NCR Atleos vs Xerox Holdings
Xerox Holdings is the larger business, with $7.02bn of revenue in fiscal 2025 against $4.35bn for NCR Atleos (1.6 times as much). Xerox Holdings grew faster (12.9% against 1.1%). NCR Atleos kept more of each dollar of sales as profit: a net margin of 3.7% against -14.7%.
| Latest fiscal year | NCR AtleosNATL, 2025 | Xerox HoldingsXRX, 2025 |
|---|---|---|
| Revenue | $4.35bn | $7.02bn |
| Revenue growth | 1.1% | 12.9% |
| Net income | $162m | −$1.03bn |
| Operating margin | — | — |
| Net margin | 3.7% | -14.7% |
| Return on equity | 52.1% | -135.4% |
| Free cash flow | $239m | $187m |
| Cash | $456m | $512m |
| Total debt | $2.79bn | $4.34bn |
| Debt to equity | — | 978.4% |
| Dividend per share | — | — |
| Dividend yield | — | 17.5% |
| Share buybacks | $28.0m | $0 |
| Employees | 20,000 | 22,900 |
| Market value | $3.44bn | $164m |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | — | 49 (Moderate) |
| Insider trades, 12 months | 0 buys, 1 sales | 0 buys, 0 sales |