Saturday 7 November 2026
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NCR Voyix Corporation
VYX Technology Information Technology Services
NCR Voyix Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, down 4.65% from fiscal 2024.
- Revenue
- −21.2%
- EPS
- +208.8%
- Free cash flow
- +91.6%
- Total debt
- +0.18%
Quarter to September 2026, against a year earlier
9.83
0.03
−0.30%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 6,543 | 6,516 | 6,405 | 6,915 | 6,207 | 3,692 | 3,174 | 3,166 | 2,818 | 2,687 | 2,399 | (9.4%) | 2,199 | 2,171 | 2,202 | (6.4%) | |
| Gross margin, % | 27.79 | 28.47 | 26.15 | 27.78 | 24.55 | 25.05 | 21.55 | 20.94 | 20.48 | 23.60 | 26.97 | (4.2) pt | ||||||
| EBT | 379 | 482 | 39 | 341 | (59) | (267) | (317) | (549) | (197) | (31) | 2 | n/m | ||||||
| EBT margin, % | 5.79 | 7.40 | 0.61 | 4.93 | (0.95) | (7.23) | (9.99) | (17.34) | (6.99) | (1.15) | 0.08 | (6.9) pt | ||||||
| Net income | 274 | 235 | (86) | 564 | (78) | 98 | 59 | (428) | 957 | 62 | 119 | (15.2%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 52.09 | 53.45 | 54.10 | 56.63 | 48.34 | 28.14 | 23.22 | 22.52 | 19.47 | 19.39 | 17.40 | (10.4%) | |||||
| Earnings | 1.76 | 1.01 | (1.16) | 3.72 | (0.86) | 0.62 | 0.32 | (3.12) | 6.52 | 0.30 | 0.74 | (17.8%) | ||||||
| Cash flow | 7.13 | 6.17 | 4.83 | 5.19 | 4.99 | 7.69 | 3.12 | 4.94 | (0.91) | (1.52) | 0.99 | n/m | ||||||
| Capex | (1.81) | (2.36) | (2.62) | (2.60) | (1.99) | (2.64) | (2.68) | (2.62) | (1.50) | (1.05) | (1.04) | (5.8%) | ||||||
| Free cash flow | 5.33 | 3.81 | 2.21 | 2.59 | 3.00 | 5.05 | 0.44 | 2.31 | (2.41) | (2.57) | (0.06) | n/m | ||||||
| Book value | 5.57 | 5.92 | 3.37 | 9.07 | 8.19 | 9.60 | 10.82 | 0.18 | 6.43 | 6.84 | 6.90 | +2.3% | ||||||
| Shares, m | 126 | 122 | 118 | 122 | 128 | 131 | 137 | 141 | 145 | 139 | 138 | +1.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 14.31 | 21.02 | 0.00 | 5.93 | 0.00 | 40.15 | 46.45 | 0.00 | 2.14 | 34.00 | 13.21 | 16.4 | |||||
| P/S | 0.49 | 0.40 | 0.26 | 0.38 | 0.47 | 0.87 | 0.62 | 0.76 | 0.71 | 0.53 | 0.57 | 0.5 | ||||||
| P/B | 4.55 | 3.58 | 4.17 | 2.36 | 2.80 | 2.55 | 1.33 | 96.40 | 2.15 | 1.49 | 1.42 | 12.1 | ||||||
| EV/Sales | 0.88 | 0.77 | 0.68 | 0.82 | 0.94 | 2.18 | 2.33 | 1.49 | 0.84 | 0.85 | 0.91 | 1.2 | ||||||
| EV/FCF | 8.57 | 10.87 | 16.66 | 17.93 | 15.12 | 12.13 | 123.06 | 14.49 | (6.77) | (6.38) | (273.69) | 20.6 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 896 | 752 | 572 | 634 | 641 | 1,009 | 427 | 694 | (132) | (210) | 136 | n/m | |||||
| Capex | (227) | (288) | (310) | (318) | (256) | (347) | (367) | (369) | (217) | (146) | (144) | (4.8%) | ||||||
| Free cash flow | 669 | 464 | 262 | 316 | 385 | 662 | 60 | 325 | (349) | (356) | (8) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 792 | 941 | 741 | 606 | 390 | 68 | 369 | (127) | 251 | 38 | 104 | (28.6%) | |||||
| Net debt | 2,553 | 2,454 | 2,701 | 3,050 | 2,881 | 4,820 | 5,415 | 2,298 | 345 | 861 | 819 | (11.4%) | ||||||
| Shareholders’ equity | 699 | 722 | 399 | 1,107 | 1,051 | 1,259 | 1,479 | 25 | 931 | 948 | 952 | +3.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 3.53 | 3.03 | (1.14) | 6.74 | (1.26) | 0.81 | 0.38 | (5.38) | 19.97 | 1.00 | 2.52 | (2.5) pt | |||||
| ROIC | 12.95 | 13.60 | 3.85 | 9.19 | 3.51 | 0.27 | (0.45) | (3.61) | (1.86) | 0.90 | 1.98 | (12.0) pt | ||||||
| ROE | 37.89 | 32.65 | (15.70) | 74.90 | (10.19) | 7.01 | 3.21 | (59.04) | 197.28 | 4.47 | 10.89 | (33.4) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 33,500 | 34,000 | 34,000 | 36,000 | 36,000 | 38,000 | 35,000 | 15,500 | 14,000 | 13,500 | — | (9.6%) | |||||
| Revenue/emp, $m | 0.20 | 0.19 | 0.19 | 0.19 | 0.17 | 0.10 | 0.09 | 0.20 | 0.20 | 0.20 | — | +0.2% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026
NCR Voyix Corporation vs peers in Information Technology Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| FORTY Formula Systems (1985) Ltd. | $1.7B | 2.6× | 13.9× | +29.82% (above 0%: growing) | +55.10% (above 0%: growing) | +1,330.84% (above 0%: growing) | 20.25% | 9.16% | Compare |
| MGRT Mega Fortune Company Limited | $1.6B | — | — | — | — | — | — | — | Compare |
| PONY Pony AI Inc. - Sponsored ADR | $1.6B | — (loss-making) | — (loss-making) | +68.82% (above 0%: growing) | n/m | −73.21% (below 0%: shrinking) | 17.53% | (181.51%) | Compare |
| CLVT Clarivate PLC | $1.5B | — (loss-making) | — (loss-making) | −9.18% (below 0%: shrinking) | n/m | −4.59% (below 0%: shrinking) | 71.14% | 8.33% | Compare |
| CHRN ChronoScale Holdings Corporation | $1.5B | — (loss-making) | — (loss-making) | +148.13% (above 0%: growing) | n/m | +1,410.88% (above 0%: growing) | (9.99%) | (59.99%) | Compare |
| EFOR Everforth Inc. | $1.5B | 21.0× | 24.3× | +1.98% (above 0%: growing) | −35.98% (below 0%: shrinking) | −35.42% (below 0%: shrinking) | 28.27% | 5.49% | Compare |
| VYX NCR Voyix Corporation | $1.4B | 13.2× | 41.4× | −21.20% (below 0%: shrinking) | n/m | +91.55% (above 0%: growing) | 32.84% | 7.79% | |
| INOD Innodata Inc | $1.3B | 25.7× | 36.1× | +57.80% (above 0%: growing) | +86.96% (above 0%: growing) | +4,885.72% (above 0%: growing) | 46.08% | 17.21% | Compare |
| GDYN Grid Dynamics Holdings, Inc. | $1.1B | 146× | 79.6× | +9.73% (above 0%: growing) | +449.64% (above 0%: growing) | +349.88% (above 0%: growing) | 40.32% | 7.99% | Compare |
| Median of peers | $1.5B | 23.4× | 30.2× | +29.82% | +71.03% | +349.88% | 28.27% | 7.99% |
Pay and ownership Proxy statement filed 21 April 2026
Ownership
Directors and executive officers, together
less than 1%
BlackRock, Inc.50 Hudson YardsNew York, NY
15.30%
The Vanguard Group100 Vanguard BoulevardMalvern, PA
13.20%
Greenhouse Entities605 S. Eden Street, Suite
11.90%
Shapiro Capital Management LLC3060 Peachtree Road, Suite
5.60%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement