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NCR Voyix Corp (VYX) stock

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NYSE: VYX NYSE Application Software Next results ~November 5, 2026

C Fundamentals grade

NCR Voyix Corp is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$14

Valuation models combined (3)

Base case. Range ~$6.7–$28. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, justified price-to-book), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

NCR Voyix Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds142 adding, 126 cuttingOf 46 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter NCR Voyix files

Where NCR Voyix stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.53bn, down 4.8% on a year earlier, a steeper fall than the 2.0% decline a quarter earlier. That puts it 54 of 55 for growth among the application software companies we cover. Free-cash-flow margin rose to -1.1% from -20.0% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 7 financial-health checks. Our valuation models combined value is $14.19 a share, against a share price of $8.19.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

NCR Voyix Corp's trailing-twelve-month revenue fell 4.8% year on year, with a free-cash-flow margin of -1.1%. Where it stands out: stock pay as % of revenue of 1.4% ranks 10 of 177 application software companies we cover. Where it lags: revenue growth of -4.8% ranks 164 of 184 application software companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 94.7% while net income fell 92.8%: a 188pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 5.1% over 90 days.

Things to watch

  • Revenue shrinking. Revenue fell 4.8% over the last 12 months.
  • Burning cash. Free cash flow was -1.1% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 58% and a beta of 1.2 against the S&P 500.
  • Growth easing. The growth rate is 2.9 points lower than a quarter earlier.
  • Weak cash conversion. Free cash flow was -37% of net income over the last 12 months.
  • Below peers: change in growth rate. Change in growth rate of -2.9pp ranks 144 of 184 application software companies we cover (median +0.2pp).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.17 against an average estimate of $0.15: beat by 13.3%
Revenue
$523m, down 20.8% on a year earlier
Next report
November 5, 2026; average EPS estimate $0.28

NCR Voyix's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.2%
  • 1 week+9.3%
  • 1 month+33.1%
  • This year-12.5%
  • 1 year-21.8%
  • 5 years-66.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.5B
Operating margin
1.1%
Net margin
3.0%
EPS (TTM, diluted)
$0.54

Growth

Revenue growth
−4.8%
Change in growth rate
−2.9 pts
Share count change
−0.8%

Cash

Free cash flow (TTM)
-$28M
FCF margin
-1.1%
Stock pay % of revenue
1.4%

Earnings

Last results
May 7, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Partnership
  2. Deal

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

NCR Voyix Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Our value per share comes from a discounted-cash-flow model of NCR Voyix Corp's free cash flow after stock-based pay ( $51.1M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value NCR Voyix Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.23 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.7 ~$2.3–$9.3 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$14 ~$12–$24 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$50 ~$36–$70 Left out: out of range vs price (5.59x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$28 ~$25–$32 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$14 ~$6.7–$28 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare NCR Voyix Corp with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$15.01$24.88$20.85$14.16$21.57$23.05$24.66$14.36$16.91$13.84$10.20$8.92
Market value$2.5bn$3.2bn$2.6bn$1.7bn$3.1bn$3.0bn$3.2bn$2.0bn$2.4bn$2.0bn$1.4bn$1.3bn
+ Net debt (− = net cash)$3.0bn$2.6bn$2.5bn$2.9bn$3.4bn$3.0bn$5.5bn$5.6bn$2.3bn$383m$874m$864m
Enterprise value$5.5bn$5.8bn$5.2bn$4.6bn$6.5bn$5.9bn$8.7bn$7.6bn$4.7bn$2.4bn$2.3bn$2.1bn
Multiples
Price / sales 0.4x0.5x0.4x0.3x0.5x0.5x0.5x0.6x0.8x0.7x0.5x0.5x
Price / earnings —11.9x11.4x—5.6x—33.4x32.7x—2.1x23.2x16.5x
Price / free cash flow 4.2x3.9x4.2x3.9x5.8x4.9x3.6x5.9x4.2x———
EV / EBITDA 12.4x5.7x5.0x8.8x6.9x10.2x16.0x13.5x11.1x9.2x9.0x8.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

29 /100

Weak moat

How hard NCR Voyix's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Cash operating profit has been a median 8.6% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 26.0%, moving by 4.3 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 3.3%; its worst year was -6.3%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 8 of 10 years, at a median 8.8% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 8.4% over five years; stock-based pay has been a median 1.5% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (44 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $539m and EPS of $0.28 (range $0.24 to $0.30) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.92 +2% $2.2bn −18%
Next $1.03 +12% $2.2bn −1%

Next year's EPS estimate has moved +5.1% in 90 days, across 5 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.15 $0.17 +13.3%
Mar 2026 $0.07 $0.10 +39.5%
Dec 2025 $0.29 $0.31 +7.4%
Sept 2025 $0.21 $0.31 +46.6%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows NCR Voyix Corp's revenue by -8.1% next year and +1.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-13.7%, weight 64%) and the company's own record (+2.0%, weight 36%) . How the weights are set.

Analyst recommendations

6 analysts, Oct 2026
Buy583%
Hold117%
Sell00%

Monthly trend

  1. Oct 20262316
  2. Sep 20262316
  3. Aug 20262316
  4. Jul 20262316

Counts of recommendations published by analysts covering NCR Voyix Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
41.3%
of tradable shares
Days to cover
9.8
at average volume
Short interest, 1 month
+8%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
0.9%
of shares
Employees
13,500
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −21.8%

$11.41 on October 31, 2025 to $8.92

ThenNowEffect
Revenue (last 12 months) $2.7bn $2.5bn −4.8%
Net margin 39.5% 3.0% −92.4%
P/E multiple 1.5x 16.5x +972.2%
Share count 142m 141m +0.8%

Biggest factor: net margin.

Last 3 years −46.7%

$16.74 on November 3, 2023 to $8.92

ThenNowEffect
Revenue (last 12 months) $4.5bn $2.5bn −43.8%
Net margin 1.6% 3.0% +85.4%
P/E multiple 31.5x 16.5x −47.6%
Share count 138m 141m −2.3%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VYX+7%−42%+18%−18%−26%−13%
Industry peers (median)−8%−50%+19%+2%−20%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VYX50%33%58%33%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VYX−24%−58%−31%−36%−44%−45%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 80% from March 1, 2017 to April 2, 2026. Getting back needed a 395% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$6.15 – $11.43
From 52-week high
−22.0%
vs 50-day average
+14.8%
vs 200-day average
+14.4%
Volatility (1 year)
58%
Beta vs S&P 500
1.17

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±9.9%
After a week
4 up, 8 down
typical move ±8.0%
After a month
5 up, 7 down
typical move ±12.0%
Results releasedNext dayS&P 500 next day5 days21 days
May 7, 2026 +18.8% +0.5% −1.4% −1.4%
February 26, 2026 −16.0% −1.0% −9.8% −31.9%
November 6, 2025 −4.5% −1.0% −5.6% −15.9%
August 7, 2025 −6.9% +0.7% −4.7% −1.3%
May 8, 2025 +20.8% +0.6% +24.5% +34.9%
February 27, 2025 −3.7% −0.1% −9.4% −14.5%
November 7, 2024 +2.9% +1.2% +2.3% +4.2%
August 6, 2024 −12.2% +0.2% −1.3% +2.2%
May 9, 2024 −1.2% +0.7% +5.8% +1.0%
February 29, 2024 −19.8% +1.3% −15.0% −13.6%
November 9, 2023 −3.1% +0.8% −7.1% −6.0%
August 2, 2023 +9.1% −1.7% +9.0% +16.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

NCR Voyix Corp in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) NCR Voyix Corp
$2.5B $3B $3.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3.3B Revenue (TTM), FY23 Q4: $3.2B Revenue (TTM), FY24 Q1: $3.1B Revenue (TTM), FY24 Q2: $3B Revenue (TTM), FY24 Q3: $2.9B Revenue (TTM), FY24 Q4: $2.8B Revenue (TTM), FY25 Q1: $2.7B Revenue (TTM), FY25 Q2: $2.7B Revenue (TTM), FY25 Q3: $2.6B Revenue (TTM), FY25 Q4: $2.7B Revenue (TTM), FY26 Q1: $2.7B Revenue (TTM), FY26 Q2: $2.5B $2.5B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3.3B
FY23 Q4 $3.2B
FY24 Q1 $3.1B
FY24 Q2 $3B
FY24 Q3 $2.9B
FY24 Q4 $2.8B
FY25 Q1 $2.7B
FY25 Q2 $2.7B
FY25 Q3 $2.6B
FY25 Q4 $2.7B
FY26 Q1 $2.7B
FY26 Q2 $2.5B
Revenue growth, TTM YoY NCR Voyix Corp
-60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -57.5% Revenue growth, TTM YoY, FY23 Q4: -53.3% Revenue growth, TTM YoY, FY24 Q1: -45.3% Revenue growth, TTM YoY, FY24 Q2: -32.7% Revenue growth, TTM YoY, FY24 Q3: -12.3% Revenue growth, TTM YoY, FY24 Q4: -11.2% Revenue growth, TTM YoY, FY25 Q1: -12.7% Revenue growth, TTM YoY, FY25 Q2: -12.3% Revenue growth, TTM YoY, FY25 Q3: -10.1% Revenue growth, TTM YoY, FY25 Q4: -5.2% Revenue growth, TTM YoY, FY26 Q1: -2.0% Revenue growth, TTM YoY, FY26 Q2: -4.8% -4.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -57.5%
FY23 Q4 -53.3%
FY24 Q1 -45.3%
FY24 Q2 -32.7%
FY24 Q3 -12.3%
FY24 Q4 -11.2%
FY25 Q1 -12.7%
FY25 Q2 -12.3%
FY25 Q3 -10.1%
FY25 Q4 -5.2%
FY26 Q1 -2.0%
FY26 Q2 -4.8%
Operating margin (TTM) NCR Voyix Corp
-10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 2.7% Operating margin (TTM), FY23 Q4: -4.1% Operating margin (TTM), FY24 Q1: -4.4% Operating margin (TTM), FY24 Q2: -6.3% Operating margin (TTM), FY24 Q3: -6.8% Operating margin (TTM), FY24 Q4: -1.2% Operating margin (TTM), FY25 Q1: -1.4% Operating margin (TTM), FY25 Q2: 0.4% Operating margin (TTM), FY25 Q3: 0.3% Operating margin (TTM), FY25 Q4: 0.9% Operating margin (TTM), FY26 Q1: 1.0% Operating margin (TTM), FY26 Q2: 1.1% 1.1%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 2.7%
FY23 Q4 -4.1%
FY24 Q1 -4.4%
FY24 Q2 -6.3%
FY24 Q3 -6.8%
FY24 Q4 -1.2%
FY25 Q1 -1.4%
FY25 Q2 0.4%
FY25 Q3 0.3%
FY25 Q4 0.9%
FY26 Q1 1.0%
FY26 Q2 1.1%
FCF margin (TTM) NCR Voyix Corp
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 23.2% FCF margin (TTM), FY23 Q4: 17.7% FCF margin (TTM), FY24 Q1: 7.3% FCF margin (TTM), FY24 Q2: 3.4% FCF margin (TTM), FY24 Q3: -1.2% FCF margin (TTM), FY24 Q4: -5.7% FCF margin (TTM), FY25 Q1: -7.3% FCF margin (TTM), FY25 Q2: -20.0% FCF margin (TTM), FY25 Q3: -17.7% FCF margin (TTM), FY25 Q4: -14.0% FCF margin (TTM), FY26 Q1: -10.8% FCF margin (TTM), FY26 Q2: -1.1% -1.1%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 23.2%
FY23 Q4 17.7%
FY24 Q1 7.3%
FY24 Q2 3.4%
FY24 Q3 -1.2%
FY24 Q4 -5.7%
FY25 Q1 -7.3%
FY25 Q2 -20.0%
FY25 Q3 -17.7%
FY25 Q4 -14.0%
FY26 Q1 -10.8%
FY26 Q2 -1.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 4,599 4,711 5,291 5,730 6,123 6,591 6,373 6,543 6,516 6,405 6,915 6,207 7,156 3,174 3,166 2,818 2,687 2,533
EBITDA 231 263 −20 914 874 637 443 1,018 1,045 521 944 585 543 560 425 259 257 246
Operating income 103 149 −148 748 666 353 135 674 691 191 611 221 26 −50 −134 −38 26 27
Net income −33 134 −190 481 443 191 −178 270 232 −88 564 −79 97 60 −428 958 62 76
Diluted EPS −$0.21 $0.83 −$1.20 $2.94 $2.62 $1.12 −$1.09 $1.71 $0.97 −$1.16 $3.36 −$0.86 $0.62 $0.32 −$3.16 $6.52 $0.30 $0.54
Growth (year on year)
Revenue −13.5% +2.4% +12.3% +8.3% +6.9% +7.6% −3.3% +2.7% −0.4% −1.7% +8.0% −10.2% +15.3% −55.6% −0.3% −11.0% −4.6% −4.8%
EBITDA −47.0% +13.9% −107.6% — −4.4% −27.1% −30.5% +129.8% +2.7% −50.1% +81.2% −38.0% −7.2% +3.1% −24.1% −39.1% −0.8% −4.7%
Operating income −68.0% +44.7% −199.3% — −11.0% −47.0% −61.8% +399.3% +2.5% −72.4% +219.9% −63.8% −88.2% — — — — —
Net income −114.5% — −241.8% — −7.9% −56.9% −193.2% — −14.1% −137.9% — −114.0% — — — — −93.5% −92.8%
Diluted EPS −115.4% — −244.6% — −10.9% −57.3% −197.3% — −43.3% −219.6% — −125.6% — — — — −95.4% −92.7%
Margins
EBITDA margin 5.0% 5.6% −0.4% 16.0% 14.3% 9.7% 7.0% 15.6% 16.0% 8.1% 13.7% 9.4% 7.6% 17.6% 13.4% 9.2% 9.6% 9.7%
Operating margin 2.2% 3.2% −2.8% 13.1% 10.9% 5.4% 2.1% 10.3% 10.6% 3.0% 8.8% 3.6% 0.4% −1.6% −4.2% −1.3% 1.0% 1.1%
Net margin −0.7% 2.8% −3.6% 8.4% 7.2% 2.9% −2.8% 4.1% 3.6% −1.4% 8.2% −1.3% 1.4% 1.9% −13.5% 34.0% 2.3% 3.0%
Free-cash-flow margin 3.0% 4.4% 6.2% −4.5% 2.7% 6.2% 9.4% 12.5% 9.6% 6.7% 7.9% 9.8% 12.6% 10.6% 17.8% −5.7% −14.0% −1.1%
Cash flow
Cash from operations 260 279 388 −180 281 524 681 894 752 572 634 641 1,009 427 694 −132 −210 133
Capital spending 121 74 61 80 116 118 79 73 128 143 91 31 106 92 130 30 165 161
Free cash flow 139 205 327 −260 165 406 602 821 624 429 543 610 903 335 564 −162 −375 −28
Stock-based pay 12 21 33 49 41 31 42 61 77 72 107 108 154 125 177 47 34 35
Free cash flow after stock pay 127 184 294 −309 124 375 560 760 547 357 436 502 749 210 387 −209 −409 −63
Balance sheet
Cash 451 496 398 1,069 528 511 328 498 537 464 509 338 221 218 256 722 231 237
Total debt 15 11 1,964 2,035 3,388 3,846 3,299 3,130 3,066 3,368 3,873 3,326 5,679 5,815 2,593 1,105 1,105 1,101
Net debt (negative = net cash) −436 −485 1,566 966 2,860 3,335 2,971 2,632 2,529 2,904 3,364 2,988 5,458 5,597 2,337 383 874 864
Diluted shares 160m 161m 158m 164m 169m 171m 168m 129m 127m 118m 145m 128m 131m 137m 141m 145m 141m 141m
Returned to shareholders
Buybacks 1 20 70 0 0 0 0 250 350 210 96 41 0 0 0 56 74 25
Total returned 1 20 70 0 0 0 0 250 350 210 96 41 0 0 0 56 74 25

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $3.9bn
Short-term assets $1.1bnLonger-term assets $2.7bn
What it owes, and who funded it · $3.6bn
Short-term liabilities $1.0bnLonger-term liabilities $1.7bnShareholders' equity $926m
  • Short-term assets cover short-term liabilities $1.1bn of assets due within a year against $1.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.1bn short-term assets against $1.7bn of longer-dated liabilities.
  • More cash than debt $237m of cash against $1.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 119% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 438% to 119% over five years.
  • A year's operating cash flow covers at least 20% of debt $133m of operating cash flow against $1.1bn of debt.
  • Operating profit covers interest at least five times over Operating income of $27m against $61m of interest.

From NCR Voyix Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$25M
Returned to shareholders
-89%
of free cash flow
Buybacks, last 3 fiscal years
$130M
Diluted share count
−0.8%
year over year
Total shareholder yield
2.0%
dividends 0.0% + buybacks 2.0% of market value
R&D spending
6.0%
of revenue
Sales & admin spending
17.9%
of revenue
Days sales outstanding
65 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated VYX DBX TYL RNG FICO MDB Median
Revenue, last 12 months $2.5bn $2.5bn $2.5bn $2.6bn $2.4bn $2.8bn $482m
Revenue growth, last 12 months −4.8% −0.0% 8.0% 5.5% 24.1% 25.5% 12.0%
Revenue growth, 3-year average −17.5% 1.5% 8.9% 6.7% 17.6% 23.2% 11.1%
Revenue growth, latest quarter −20.8% 0.9% 8.7% 5.9% 25.7% 30.5% 11.9%
Gross margin 20.5% 79.7% 47.7% 72.2% 85.1% 72.7% 69.2%
Operating margin 1.1% 26.6% 15.6% 7.5% 51.7% −0.5% 1.1%
Operating margin, 3-year average −1.6% 25.2% 14.8% 2.9% 46.7% −7.9% −0.8%
Net margin 3.0% 17.5% 13.5% 25.3% 34.1% 2.1% 2.1%
Cash from operations / revenue 5.3% 38.7% 30.5% 26.7% 41.8% 24.0% 18.2%
Free-cash-flow margin −1.1% 37.8% 29.9% 25.5% 41.6% 23.7% 15.0%
Free-cash-flow margin, 3-year average −5.9% 35.2% 27.3% 22.4% 38.6% 14.2% 16.2%
Stock pay / revenue 1.4% 12.0% 6.4% 9.2% 7.3% 20.3% 9.3%
Change in share count −0.8% −18.3% −3.6% −4.0% −4.5% 4.0% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth -4.8% 12.0% 164 of 184
Change in growth rate Growth -2.9pp +0.2pp 144 of 184
Operating margin Profitability 1.1% 1.1% 92 of 181
Net margin Profitability 3.0% 2.1% 88 of 185
Free-cash-flow margin Cash generation -1.1% 15.2% 131 of 180
Stock pay as % of revenue Cash generation 1.4% 9.3% 10 of 177
Long-term debt as % of assets Balance sheet 28.6% 16.9% 71 of 98
Change in share count Balance sheet -0.8% 1.7% 56 of 163
Days sales outstanding Balance sheet 65 days 57 days 97 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Services $1.9B ▼ 1.9%
Recurring Revenue $1.7B ▲ 2.9%
All Other Products and Services $1B ▼ 15.0%
Products $774M ▼ 10.7%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $1.6B 61.1% ▼ 3.8%
EMEA $587M 21.8% ▲ 3.7%
Asia Pacific $271M 10.1% ▼ 11.7%
Americas Excluding United States $188M 7.0% ▼ 21.3%

From NCR Voyix Corp's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.3B
Institutions reporting
293
Shares held vs prior quarter
▲ 3.7%
Positions opened / closed
52 / 59

Top buyers and sellers, Q2 2026: 142 institutions bought and 126 sold ; the biggest buyer was Neuberger Berman Group LLC (+2.9M shares) and the biggest seller River Road Asset Management, LLC (−1.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $184M 22.6M 14.0% ▲ 2.5%
Greenhouse Funds LLLP $163M 19.9M 12.3% ▲ 0.9%
Shapiro Capital Management LLC $88.5M 10.8M 6.7% ▲ 4.9%
Vanguard Portfolio Management LLC $88.3M 10.8M 6.7% ▲ 2.0%
Neuberger Berman Group LLC $50.8M 6.2M 3.8% ▲ 87.2%
Vanguard Capital Management LLC $50.7M 6.2M 3.8% ▼ 0.1%
Fuller & Thaler Asset Management, Inc. $50.4M 6.2M 3.8% ▼ 4.5%
State Street Corp $49.7M 6.1M 3.8% ▲ 5.7%
Dimensional Fund Advisors LP $49.2M 6.0M 3.7% ▼ 4.0%
First Pacific Advisors, LP $44.2M 5.4M 3.3% ▲ 0.1%
Brown Advisory Inc $37M 4.5M 2.8% ▲ 37.1%
Private Management Group Inc $35.4M 4.3M 2.7% ▲ 14.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not NCR Voyix Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $104,550 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $104,550 net selling
Insider Date Trade Shares Price Value
Tadele Beimnet EVP & President, Restaurants August 13, 2026 Sell 12,750 $8.20 $104,550

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around August 6, 2026 estimated from the company's past filing pattern, not announced

  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025
  • February 27, 2025

Recent SEC filings

Data status

When each part of this page on NCR Voyix Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

NCR Voyix Corp in brief

What does NCR Voyix Corp do?
NCR Voyix Corp is a US-listed company in the application software industry. Its financial year ends in December.
What is NCR Voyix Corp's stock ticker?
NCR Voyix Corp trades under the ticker VYX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is NCR Voyix Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, NCR Voyix Corp reported revenue of $2.5B, 4.8% lower than a year earlier, according to its SEC filings.
What is NCR Voyix Corp's free cash flow?
NCR Voyix Corp's free-cash-flow margin is -1.1% of revenue over the trailing twelve months, ranking 131 of the 180 application software companies we cover.
Who are NCR Voyix Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Greenhouse Funds LLLP and Shapiro Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is NCR Voyix Corp buying back stock, and does it pay a dividend?
NCR Voyix Corp spent $25M on share repurchases over the trailing twelve months, and its diluted share count fell 0.8% over the year.
What is NCR Voyix Corp's market cap?
On November 2, 2026, NCR Voyix Corp's market capitalisation was about $1.3B, with a price-to-earnings ratio of 16.5 and net debt of $864M. Market figures come from third-party market data and may be delayed.
How much debt does NCR Voyix Corp have?
NCR Voyix Corp's debt-to-equity ratio is 118.9%, from its latest balance sheet (438.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are NCR Voyix Corp's competitors?
In our Application Software peer group, the companies closest to NCR Voyix Corp are Dropbox, Inc., Tyler Technologies Inc, Ringcentral, Inc., Fair Isaac and Mongodb, Inc. The side-by-side comparison below sets their revenue, margins and growth against NCR Voyix Corp's.
Are insiders buying or selling NCR Voyix Corp stock?
Over the last 12 months, NCR Voyix Corp's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is NCR Voyix Corp's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — NCR Voyix Corp announces its own schedule.