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Xerox Holdings Corp (XRX) stock

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NASDAQ: XRX Nasdaq Technology Hardware, Storage & Peripherals Next results ~January 28, 2027

C Fundamentals grade

Xerox Holdings Corp is a US-listed company in the technology hardware, storage & peripherals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Xerox Holdings Corp is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: our cash-flow value ($79.60) was left out of our combined valuation (it is 62.43x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Xerox Holdings 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.

  • Funds128 adding, 90 cuttingOf 40 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Xerox Holdings files

Where Xerox stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $7.76bn, up 25.6% on a year earlier, faster than the 20.0% growth a quarter earlier. Free-cash-flow margin fell to 2.1% from 5.6% a year earlier. The diluted share count is up 3.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 6 financial-health checks.

Our model value for Xerox Holdings is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 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 ~January 28, 2027 (estimated)

Xerox Holdings Corp's trailing-twelve-month revenue grew 25.6% year on year, with a free-cash-flow margin of 2.1%. Where it stands out: stock pay as % of revenue of 0.5% ranks 4 of 27 technology hardware, storage & peripherals companies we cover. Where it lags: long-term debt as % of assets of 42.7% ranks 15 of 16 technology hardware, storage & peripherals companies we cover.

Our discounted-cash-flow model values the business at ~$80 per share in the base case (~$53–$110 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 52.8% while net income grew 35.0%: a 88pp 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

  • Fast growth. Revenue grew 25.6% over the last 12 months, against a median of 11.3% for technology hardware, storage & peripherals companies we cover.
  • Growth speeding up. The growth rate is 5.6 points higher than a quarter earlier.

Things to watch

  • Share dilution. Diluted shares rose 3.0% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 103% and a beta of 2.5 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 42.7% ranks 15 of 16 technology hardware, storage & peripherals companies we cover (median 18.6%).
  • Heavily shorted. 32.2% of the shares available to trade are sold short (14.9 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 67.4% over 90 days.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.02 against an average estimate of -$0.12: beat by 116.5%
Revenue
$1.92bn, up 22.0% on a year earlier
Share reaction
-47.3% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
January 28, 2027; average EPS estimate $0.29

Xerox Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-14.3%
  • 1 week-49.8%
  • 1 month-58.3%
  • This year-44.9%
  • 1 year-60.3%
  • 5 years-91.2%
  • 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)
$7.8B
Net margin
-11.9%
EPS (TTM, diluted)
$-7.19

Growth

Revenue growth
+25.6%
Change in growth rate
+5.6 pts
Share count change
+3.0%

Cash

Free cash flow (TTM)
$163M
FCF margin
2.1%
Stock pay % of revenue
0.5%

Earnings

Last results
October 29, 2026
Next results (est.)
January 28, 2027

News & updates

Updated November 3, 2026

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

  1. Our research
  2. Agreement
  3. Results

    Xerox Holdings reports third quarter 2026 results

    Xerox Holdings Corp said it issued a press release on October 29, 2026, announcing its combined third quarter 2026 earnings. The company filed a Form 8-K with the SEC to disclose these financial results. The filing includes non-GAAP financial measures and their reconciliation to GAAP standards.

    SEC 8-KRead source ↗
  4. Results

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

Xerox Holdings Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($79.60) was left out of our combined valuation (it is 62.43x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Xerox Holdings Corp's free cash flow after stock-based pay ( $603M, 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.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Xerox Holdings Corp as an operating company, with every model that fits that kind of business. Cost of equity 12.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.6 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$80 ~$53–$110 Left out: out of range vs price (63.17x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Xerox Holdings Corp with Technology Hardware, Storage & Peripherals 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 201720182019202020212022202320242025Now
Share price$18.32$12.94$24.88$16.52$16.85$11.57$15.48$7.77$2.29$1.26
Market value$4.7bn$3.3bn$5.5bn$3.5bn$3.1bn$1.8bn$2.3bn$965m$289m$162m
+ Net debt (− = net cash)−$1.4bn$4.2bn$1.6bn$1.8bn$2.4bn$2.7bn$2.8bn$2.9bn$3.8bn$3.7bn
Enterprise value$3.3bn$7.5bn$7.1bn$5.3bn$5.5bn$4.5bn$5.1bn$3.8bn$4.1bn$3.8bn
Multiples
Price / sales 0.5x0.3x0.6x0.5x0.4x0.3x0.3x0.2x0.0x0.0x
Price / earnings 24.1x9.0x4.1x18.0x——n/m———
Price / free cash flow —3.0x4.3x6.8x5.1x14.7x3.5x2.0x1.5x1.0x
EV / EBITDA ——————————

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

49 /100

Moderate moat

How hard Xerox Holdings's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -2.4% of total assets over 7 years.

  • Durability 10 / 20

    Net margin has been a median -2.6%; its worst year was -23.0%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 8 of 8 years, at a median 6.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 35.1% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (54 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: January 28, 2027, before the open. Analysts expect revenue of $2.0bn and EPS of $0.29 (range $0.26 to $0.31) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.14 +123% $7.6bn +8%
Next $0.30 +122% $7.5bn −2%

Next year's EPS estimate has moved −67.4% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −148.8% on 90 days ago. In the last 30 days, 2 analysts raised Xerox Holdings Corp's forecast and 0 cut it.

Consensus EPS forecast Xerox Holdings Corp, last 90 days
−$0.50 $0.00 $0.50 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.28 Current fiscal year, 60 days ago: $0.14 Current fiscal year, 30 days ago: $0.14 Current fiscal year, 7 days ago: $0.14 Current fiscal year, Now: $0.14 $0.14 Next fiscal year, 90 days ago: $0.93 Next fiscal year, 60 days ago: $0.30 Next fiscal year, 30 days ago: $0.30 Next fiscal year, 7 days ago: $0.30 Next fiscal year, Now: $0.30 $0.30

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.28$0.93
60 days ago $0.14$0.30
30 days ago $0.14$0.30
7 days ago $0.14$0.30
Now $0.14$0.30

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.12 $0.02 +116.5%
Jun 2026 −$0.18 $0.38 +311.7%
Mar 2026 −$0.27 −$0.43 −56.4%
Dec 2025 $0.10 −$0.10 −202.7%

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

How our valuation uses these forecasts

Our cash-flow model grows Xerox Holdings Corp's revenue by +2.9% next year and +7.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-2.9%, weight 56%) and the company's own record (+10.1%, weight 44%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy125%
Hold125%
Sell250%

Monthly trend

  1. Oct 202611114
  2. Sep 20261214
  3. Aug 20261214
  4. Jul 2026213

Counts of recommendations published by analysts covering Xerox Holdings 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
32.2%
of tradable shares
Days to cover
14.89
at average volume
Short interest, 1 month
−7%
to October 15, 2026
Held by institutions
73%
of shares
Held by insiders
16.6%
of shares
Employees
22,900
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 −60.3%

$3.17 on October 31, 2025 to $1.26

ThenNowEffect
Revenue (last 12 months) $6.2bn $7.8bn +25.6%
P/S multiple 0.1x 0.0x −67.4%
Share count 125m 129m −2.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −89.2%

$11.66 on November 3, 2023 to $1.26

ThenNowEffect
Revenue (last 12 months) $7.2bn $7.8bn +8.3%
P/S multiple 0.3x 0.0x −91.8%
Share count 157m 129m +21.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

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
XRX+2%−31%+34%−50%−71%−45%
Industry peers (median)+35%−39%+28%+14%+6%+4%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
XRX42%42%67%42%25%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
XRX−32%−43%−28%−56%−75%−65%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 95% from November 18, 2019 to April 10, 2026. Getting back needed a 2094% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.20 – $3.59
From 52-week high
−64.9%
vs 50-day average
−57.1%
vs 200-day average
−49.4%
Volatility (1 year)
103%
Beta vs S&P 500
2.55

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 ±20.0%
After a week
4 up, 7 down
typical move ±19.6%
After a month
4 up, 7 down
typical move ±24.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −47.3% −2.1% — —
July 30, 2026 +11.7% +2.4% +22.3% +15.9%
April 30, 2026 +72.0% +1.3% +51.0% +96.8%
January 29, 2026 −6.0% −0.5% −9.0% −22.7%
October 30, 2025 −3.2% −0.8% −12.2% −22.2%
July 31, 2025 −24.5% −2.0% −19.2% −23.8%
May 1, 2025 +9.8% +2.2% +26.8% +9.8%
January 28, 2025 −11.2% +0.4% −14.0% −28.6%
October 29, 2024 −19.9% −0.1% −17.6% −11.9%
July 25, 2024 −6.4% +0.6% −11.9% −8.4%
April 23, 2024 −12.4% +1.1% −19.1% −15.2%
January 25, 2024 +15.9% +0.4% +12.8% +14.5%

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.

Xerox Holdings 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) Xerox Holdings Corp
$6B $6.5B $7B $7.5B $8B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $7.1B Revenue (TTM), FY23 Q4: $6.9B Revenue (TTM), FY24 Q1: $6.7B Revenue (TTM), FY24 Q2: $6.5B Revenue (TTM), FY24 Q3: $6.4B Revenue (TTM), FY24 Q4: $6.2B Revenue (TTM), FY25 Q1: $6.2B Revenue (TTM), FY25 Q2: $6.2B Revenue (TTM), FY25 Q3: $6.6B Revenue (TTM), FY25 Q4: $7B Revenue (TTM), FY26 Q1: $7.4B Revenue (TTM), FY26 Q2: $7.8B $7.8B

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

View chart data
Period Revenue (TTM)
FY23 Q3 $7.1B
FY23 Q4 $6.9B
FY24 Q1 $6.7B
FY24 Q2 $6.5B
FY24 Q3 $6.4B
FY24 Q4 $6.2B
FY25 Q1 $6.2B
FY25 Q2 $6.2B
FY25 Q3 $6.6B
FY25 Q4 $7B
FY26 Q1 $7.4B
FY26 Q2 $7.8B
Revenue growth, TTM YoY Xerox Holdings Corp
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 1.7% Revenue growth, TTM YoY, FY23 Q4: -3.1% Revenue growth, TTM YoY, FY24 Q1: -6.7% Revenue growth, TTM YoY, FY24 Q2: -9.3% Revenue growth, TTM YoY, FY24 Q3: -9.8% Revenue growth, TTM YoY, FY24 Q4: -9.7% Revenue growth, TTM YoY, FY25 Q1: -7.4% Revenue growth, TTM YoY, FY25 Q2: -5.0% Revenue growth, TTM YoY, FY25 Q3: 3.7% Revenue growth, TTM YoY, FY25 Q4: 12.9% Revenue growth, TTM YoY, FY26 Q1: 20.0% Revenue growth, TTM YoY, FY26 Q2: 25.6% 25.6%

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

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 1.7%
FY23 Q4 -3.1%
FY24 Q1 -6.7%
FY24 Q2 -9.3%
FY24 Q3 -9.8%
FY24 Q4 -9.7%
FY25 Q1 -7.4%
FY25 Q2 -5.0%
FY25 Q3 3.7%
FY25 Q4 12.9%
FY26 Q1 20.0%
FY26 Q2 25.6%
FCF margin (TTM) Xerox Holdings Corp
0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 6.4% FCF margin (TTM), FY23 Q4: 9.5% FCF margin (TTM), FY24 Q1: 7.5% FCF margin (TTM), FY24 Q2: 8.1% FCF margin (TTM), FY24 Q3: 8.1% FCF margin (TTM), FY24 Q4: 7.8% FCF margin (TTM), FY25 Q1: 7.7% FCF margin (TTM), FY25 Q2: 5.6% FCF margin (TTM), FY25 Q3: 5.2% FCF margin (TTM), FY25 Q4: 2.7% FCF margin (TTM), FY26 Q1: 1.7% FCF margin (TTM), FY26 Q2: 2.1% 2.1%

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

View chart data
Period FCF margin (TTM)
FY23 Q3 6.4%
FY23 Q4 9.5%
FY24 Q1 7.5%
FY24 Q2 8.1%
FY24 Q3 8.1%
FY24 Q4 7.8%
FY25 Q1 7.7%
FY25 Q2 5.6%
FY25 Q3 5.2%
FY25 Q4 2.7%
FY26 Q1 1.7%
FY26 Q2 2.1%

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 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 9,991 9,662 9,066 7,022 7,038 7,107 6,886 6,221 7,022 7,757
Gross profit — — — — 375 275 — — — —
Net income 195 361 1,353 192 −455 −322 1 −1,321 −1,029 −925
Diluted EPS $0.71 $1.38 $5.80 $0.84 −$2.56 −$2.15 −$0.09 −$10.75 −$8.25 −$7.19
Growth (year on year)
Revenue — −3.3% −6.2% −22.5% +0.2% +1.0% −3.1% −9.7% +12.9% +25.6%
Net income — — +274.8% −85.8% −337.0% — — — — —
Diluted EPS — — +320.3% −85.5% −404.8% — — — — —
Margins
Gross margin — — — — 5.3% 3.9% — — — —
Net margin 2.0% 3.7% 14.9% 2.7% −6.5% −4.5% 0.0% −21.2% −14.7% −11.9%
Free-cash-flow margin −3.4% 11.2% 14.3% 7.2% 8.5% 1.7% 9.5% 7.8% 2.7% 2.1%
Cash flow
Cash from operations −267 1,140 1,333 548 629 159 686 511 224 217
Capital spending 69 55 41 44 29 36 29 27 37 54
Free cash flow −336 1,085 1,292 504 600 123 657 484 187 163
Stock-based pay 52 57 50 42 54 75 54 52 45 37
Free cash flow after stock pay −388 1,028 1,242 462 546 48 603 432 142 126
Balance sheet
Cash 1,368 1,081 2,740 2,625 1,840 1,045 519 576 512 495
Total debt 0 5,281 4,313 4,467 4,261 3,742 3,311 3,451 4,344 4,153
Net debt (negative = net cash) −1,368 4,200 1,573 1,842 2,421 2,697 2,792 2,875 3,832 3,658
Diluted shares 257m 252m 222m 209m 183m 156m 149m 124m 126m 129m
Returned to shareholders
Dividends 291 269 243 230 206 174 165 141 71 29
Buybacks 0 700 600 300 888 113 544 8 0 —
Total returned 291 969 843 530 1,094 287 709 149 71 29

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

1 of 6 checks passed · June 30, 2026
What it owns · $9.7bn
Short-term assets $3.7bnLonger-term assets $6.0bn
What it owes, and who funded it · $9.5bn
Short-term liabilities $3.1bnLonger-term liabilities $6.0bnShareholders' equity $323m
  • Short-term assets cover short-term liabilities $3.7bn of assets due within a year against $3.1bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.7bn short-term assets against $6.0bn of longer-dated liabilities.
  • More cash than debt $495m of cash against $4.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 1307% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 81% to 1307% over five years.
  • A year's operating cash flow covers at least 20% of debt $217m of operating cash flow against $4.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Xerox Holdings 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

FY2025 Q4 TTM
Buybacks (TTM)
$0
Dividends (TTM)
$29M
Returned to shareholders
38%
of free cash flow
Buybacks, last 3 fiscal years
$552M
Diluted share count
+3.0%
year over year
Total shareholder yield
17.5%
dividends 17.5% + buybacks 0.0% of market value
Sales & admin spending
22.8%
of revenue
Days sales outstanding
56 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in technology hardware, storage & peripherals
Last 12 months unless stated XRX NTAP LOGI NATL STX P Median
Revenue, last 12 months $7.8bn $6.5bn $5.0bn $4.4bn $13.8bn $4.3bn $3.9bn
Revenue growth, last 12 months 25.6% 12.7% 5.7% 3.7% 44.4% 27.2% 11.3%
Revenue growth, 3-year average 2.7% 1.6% 5.1% 2.4% 26.6% 15.5% 2.7%
Revenue growth, latest quarter 22.0% 30.1% 2.8% 0.1% 61.0% 37.7% 22.0%
Gross margin — 80.3% 45.5% — 50.4% 69.7% 34.7%
Operating margin — 28.5% 17.8% 11.5% 39.6% 5.3% 4.1%
Operating margin, 3-year average — 25.0% 15.8% 9.8% 25.3% 3.8% 4.2%
Net margin −11.9% 21.8% 16.4% 4.4% 31.9% 5.9% 2.0%
Cash from operations / revenue 2.8% 29.2% 20.5% 6.3% 35.0% 10.0% 6.3%
Free-cash-flow margin 2.1% 25.4% 19.2% 3.6% 30.1% 3.0% 3.0%
Free-cash-flow margin, 3-year average 5.3% 26.2% 19.3% 4.1% 17.2% 13.7% 4.7%
Stock pay / revenue 0.5% 6.1% 2.2% 0.8% 1.6% 12.9% 1.9%
Change in share count 3.0% −3.1% −2.6% 1.4% 5.0% 2.0% 1.4%

Median of all 27 companies we cover in technology hardware, storage & peripherals. 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

27 technology hardware, storage & peripherals companies
Measure Company Peer median Rank
Revenue growth Growth 25.6% 11.3% 10 of 27
Change in growth rate Growth +5.6pp +5.0pp 12 of 27
Net margin Profitability -11.9% 2.0% 19 of 27
Free-cash-flow margin Cash generation 2.1% 3.6% 16 of 26
Stock pay as % of revenue Cash generation 0.5% 1.9% 4 of 27
Long-term debt as % of assets Balance sheet 42.7% 18.6% 15 of 16
Change in share count Balance sheet 3.0% 1.4% 17 of 27
Days sales outstanding Balance sheet 56 days 54 days 15 of 23

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
Segments
Line of business Revenue Share YoY
Print and Other $6.3B 89.3% ▲ 7.0%
IT Solutions $750M 10.7% ▲ 110.1%
Products and services
Line of business Revenue Share YoY
Services $3.7B 53.2% ▼ 2.7%
Service Arrangements $1.7B 46.3% ▼ 6.6%
Manufactured Product Other $1.5B 39.8% ▲ 8.0%
IT Products $523M 14.0% ▲ 125.4%
Products $3.3B 46.8% ▲ 38.1%
Maintenance $1.6B 49.6% ▲ 7.4%
Supplies Paper and Other Sales $1.3B 38.7% ▲ 65.6%
Rental and Other $254M 7.7% ▼ 21.4%
Financial Service $126M 3.8% ▼ 16.6%
Geography
Region Revenue YoY
United States $4B ▲ 15.9%
Europe $2B ▲ 5.9%
Canada $464M ▼ 4.7%
Latin America $274M ▲ 37.7%
Other Geographical Markets $193M ▼ 4.0%
Geographical Other Countries $193M ▼ 4.0%
Asia Pacific $154M ▲ 185.2%

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

From Xerox Holdings Corp's 10-K filed March 17, 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
$293M
Institutions reporting
227
Shares held vs prior quarter
▲ 6.0%
Positions opened / closed
47 / 34

Top buyers and sellers, Q2 2026: 128 institutions bought and 90 sold ; the biggest buyer was D. E. Shaw & Co., Inc (+2.4M shares) and the biggest seller Dimensional Fund Advisors LP (−3.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $33.2M 10.6M 11.3% ▲ 4.3%
State Street Corp $18.4M 5.8M 6.3% ▼ 0.6%
D. E. Shaw & Co., Inc. $17.8M 5.7M 6.1% ▲ 75.1%
Vanguard Portfolio Management LLC $17.2M 5.5M 5.9% ▼ 9.9%
Two Sigma Investments, LP $17.1M 5.5M 5.9% ▲ 4.1%
Marshall Wace, LLP $16.2M 5.2M 5.6% ▲ 40.4%
Vanguard Capital Management LLC $14.5M 4.6M 5.0% ▼ 8.2%
Goldman Sachs Group Inc $11.9M 3.8M 4.1% ▲ 10.5%
Charles Schwab Investment Management Inc $10.3M 3.3M 3.5% ▼ 9.5%
Bw Gestao De Investimentos Ltda. $10.2M 3.2M 3.5% ▲ 171.8%
Geode Capital Management, LLC $10M 3.2M 3.4% ▲ 9.3%
Dimensional Fund Advisors LP $8.6M 2.8M 3.0% ▼ 52.7%

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 Xerox Holdings Corp's complete shareholder register. Values are as reported by the filers ; 6 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 → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

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.

Trades by members of Congress

All 7 trades and filings

No trades in Xerox Holdings Corp disclosed in the last 12 months; 7 earlier trades on record.

  • Earl Blumenauer(D-OR 3):Sale (full), $1,001 - $15,000, traded May 7, 2019, filed June 4, 2019
  • Virginia Foxx(R-NC 5):Sale (full), $50,001 - $100,000, traded April 24, 2019, filed May 10, 2019
  • Virginia Foxx(R-NC 5):Purchase, $15,001 - $50,000, traded March 7, 2019, filed April 3, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 30, 2026
  • January 29, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Xerox Holdings 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.

Xerox Holdings Corp in brief

What does Xerox Holdings Corp do?
Xerox Holdings Corp is a US-listed company in the technology hardware, storage & peripherals industry. Its financial year ends in December.
What is Xerox Holdings Corp's stock ticker?
Xerox Holdings Corp trades under the ticker XRX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Xerox Holdings Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Xerox Holdings Corp reported revenue of $7.8B, 25.6% higher than a year earlier, according to its SEC filings.
What is Xerox Holdings Corp's free cash flow?
Xerox Holdings Corp's free-cash-flow margin is 2.1% of revenue over the trailing twelve months, ranking 16 of the 26 technology hardware, storage & peripherals companies we cover.
Who are Xerox Holdings Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and D. E. Shaw & Co., Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Xerox Holdings Corp buying back stock, and does it pay a dividend?
Xerox Holdings Corp spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 3.0% over the year.
What is Xerox Holdings Corp's market cap?
On November 2, 2026, Xerox Holdings Corp's market capitalisation was about $162M and net debt of $3.7B. Market figures come from third-party market data and may be delayed.
Does Xerox Holdings Corp pay a dividend?
Yes: Xerox Holdings Corp paid $29M in dividends over the trailing twelve months, a dividend yield of 17.54%.
How much debt does Xerox Holdings Corp have?
Xerox Holdings Corp's debt-to-equity ratio is 1307.4%, from its latest balance sheet (81.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Xerox Holdings Corp's competitors?
In our Technology Hardware, Storage & Peripherals peer group, the companies closest to Xerox Holdings Corp are NetApp, Logitech International S.a., NCR Atleos Corp, Seagate Technology and Everpure. The side-by-side comparison below sets their revenue, margins and growth against Xerox Holdings Corp's.
When is Xerox Holdings Corp's next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Xerox Holdings Corp announces its own schedule.