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Xerox Holdings Corporation

XRX Industrials Business Equipment & Supplies

Xerox Holdings Corporation’s revenue for fiscal 2025 (year ended December 2025) was $7.0 billion, up 12.9% from fiscal 2024.

Revenue
+22.0%
EPS
+108.1%
Free cash flow
+136.7%
Total debt
+7.13%

Quarter to June 2026, against a year earlier

1.26 0.21 −14.29%
Market cap
$192.4M
P/E
0.0×
Fwd P/E
−0.9×
Dividend yield
6.80%
F-score
4/9
Altman Z
1.13
Beneish M
−2.89
Dividend safety
18/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 15.83%

Capital & Financial Ratios $m

Size
Market Cap 192.38
Revenue ttm 7,757.00
Net income ttm (925.00)
Free cash flow ttm 118.00
Net debt Q 3,728.00
Valuation
P/E 0.00
Forward P/E (0.91) (negative: loss-making)
Price / sales 0.02
Forward P/S Powerpack
Price / FCF 1.63
Price / book 0.58
Financial health
Current ratio Q 1.18
Debt / equity Q 7.76 (above 2: weak)
Interest coverage Q 1.89
Growth
Revenue growth Q +21.95% (above 0%: growing)
Operating income growth Q +372.50% (above 0%: growing)
EPS, this year +124.00% (at or above 15%: strong)
EPS, next year A +201.74% (at or above 15%: strong)
Revenue, next year A +8.23%
EPS, past 5 yrs —
EPS, next 5 yrs A +11.45%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 0.8×; over the ten years it ranged from 0.5× in 2026 to 1.4× in 2019.
P/S against its own 10 years 0.55%
10-year low 10-year high
P/B against its own 10 years 7.01%
10-year low 10-year high
EV/Sales against its own 10 years 0.04%
10-year low 10-year high
EV/FCF against its own 10 years 86.45%
10-year low 10-year high

Dividends

Yield
6.80%
Annual rate
0.10
Payout ratio
—
Growth, 2016–24
+2.48%/yr
  1. 0.82 ’16
  2. 1.00 ’17 +22%
  3. 1.00 ’18 +0%
  4. 1.00 ’19 +0%
  5. 1.00 ’20 +0%
  6. 1.00 ’21 +0%
  7. 1.00 ’22 +0%
  8. 1.00 ’23 +0%
  9. 1.00 ’24 +0%
  10. 0.46 ’25e −54%
  11. 0.33 ’26e −30%
paid forecast Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 519 576 512 495
Receivables 1,763 1,452 1,678 1,667
Inventory 661 695 1,016 1,043
Other 234 212 362 492
3,177 2,935 3,568 3,697
2023 2024 2025 Q'26
Payables 1,044 1,023 1,498 1,456
ST’ Debt 567 585 231 70
Other — — — 90
2,779 2,619 3,222 3,126

Compound Annual Growth %

10y 5y 3y
Sales (4.78%) 0.00% (0.40%)
Cash Flow (17.91%) (16.38%) 12.10%
Earnings 0.00% 0.00% 0.00%
Book Value (23.35%) (35.22%) (42.93%)

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate −0.07 Actual 0.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.15 −0.10 Miss by 0.25
Mar 2026 −0.20 −0.11 Beat by 0.09
Jun 2026 0.06 0.36 Beat by 0.30
Sep 2026 −0.07 0.06 Beat by 0.13
Dec 2026 0.27 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.84) 0.07 — — —
’25 (0.75) (0.87) (6.01) (0.60) (8.25)
’24 (0.94) 0.11 (9.71) (0.20) (10.75)
’23 0.43 (0.41) 0.28 (0.50) (0.09)
’22 (0.38) (0.05) (2.48) 0.74 (2.15)
’21 0.18 0.46 0.48 (3.97) (2.56)
’20 (0.03) 0.11 0.41 0.36 0.84
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,846 1,922 — — —
’25 1,457 1,576 1,961 2,028 7,022
’24 1,502 1,578 1,528 1,613 6,221
’23 1,715 1,754 1,652 1,765 6,886
’22 1,668 1,747 1,751 1,941 7,107
’21 1,710 1,793 1,758 1,777 7,038
’20 1,860 1,465 1,767 1,930 7,022
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (144) 37 — — —
’25 (89) (11) 116 208 224
’24 (79) 123 116 351 511
’23 78 95 124 389 686
’22 66 (85) (8) 186 159
’21 117 214 100 198 629
’20 173 34 106 235 548
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (165) 11 — — —
’25 (109) (30) 88 184 133
’24 (89) 115 107 334 467
’23 70 88 112 379 649
’22 50 (98) (18) 168 102
’21 100 198 81 182 561
’20 150 15 88 221 474
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.4
1Buy 2 3Hold 4 5Sell

Ten 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 Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 10,771 9,991 9,662 9,066 7,022 7,038 7,107 6,886 6,221 7,022 7,757 (4.6%) 7,600 7,464 7,360 +1.6%
Gross margin, % 39.97 40.75 40.04 40.26 37.40 34.14 32.62 33.60 31.51 27.07 29.15 (12.9) pt
EBT 568 525 549 822 252 (472) (325) (28) (1,216) (488) (403) n/m
EBT margin, % 5.27 5.25 5.68 9.07 3.59 (6.71) (4.57) (0.41) (19.55) (6.95) (5.20) (12.2) pt
Net income (460) 207 374 1,361 192 (455) (322) 1 (1,321) (1,029) (925) +9.4%
Per share, $
Per share, $ Revenue 42.51 39.28 38.85 40.84 33.60 38.42 45.56 46.18 50.08 55.52 59.26 +3.0%
Earnings (1.95) 0.71 1.40 6.03 0.85 (2.56) (2.15) (0.09) (10.75) (8.25) (7.38) +17.4%
Cash flow 3.15 (1.05) 4.58 6.01 2.62 3.43 1.02 4.60 4.11 1.77 1.66 (6.2%)
Capex (0.54) (0.41) (0.36) (0.29) (0.35) (0.37) (0.37) (0.25) (0.35) (0.72) (0.76) +3.1%
Free cash flow 2.60 (1.46) 4.22 5.71 2.27 3.06 0.65 4.35 3.76 1.05 0.90 (9.6%)
Book value 19.58 21.65 21.12 26.17 27.80 25.42 22.86 18.52 10.42 5.24 4.16 (13.6%)
Shares, m 253 254 249 222 209 183 156 149 124 126 128 (7.4%)
Valuation, ×
Valuation, × P/E 13.25 45.18 14.01 6.01 26.97 0.00 0.00 0.00 0.00 0.00 0.00 10.5
P/S 0.65 0.75 0.51 0.90 0.69 0.59 0.33 0.32 0.17 0.04 0.02 0.5
P/B 1.47 1.41 0.98 1.46 0.87 0.93 0.70 0.87 0.97 0.67 0.58 1.0
EV/Sales 1.03 1.17 0.94 1.07 0.95 0.93 0.71 0.72 0.62 0.57 0.51 0.9
EV/FCF 13.25 (31.44) 8.63 7.67 14.06 11.68 49.36 7.67 8.29 30.34 33.22 12.0
Cash, $m
Cash, $m Operating cash flow 798 (267) 1,140 1,333 548 629 159 686 511 224 217 (13.2%)
Capex (138) (105) (90) (65) (74) (68) (57) (37) (44) (91) (99) (4.5%)
Free cash flow 660 (372) 1,050 1,268 474 561 102 649 467 133 118 (16.3%)
Balance, $m
Balance, $m Working capital 2,338 2,489 1,462 2,705 3,305 1,872 777 398 316 346 571 (19.1%)
Net debt 4,093 4,224 4,149 1,542 1,819 2,406 2,681 2,758 2,823 3,735 3,728 (1.0%)
Shareholders’ equity 4,961 5,507 5,253 5,808 5,810 4,657 3,567 2,762 1,294 663 544 (20.0%)
Returns, %
Returns, % ROA (2.16) 1.15 2.34 9.04 1.20 (3.35) (2.71) (0.12) (14.53) (11.47) (10.10) (9.3) pt
ROIC 8.33 7.22 6.81 10.03 3.65 3.32 2.54 4.40 3.52 0.24 3.15 (8.1) pt
ROE (6.79) 3.88 6.99 25.45 3.18 (9.34) (8.62) (0.44) (73.59) (136.43) (128.89) (129.6) pt
People
People Employees 37,600 35,300 32,400 27,000 24,700 23,300 20,500 20,100 16,800 22,900 — (5.4%)
Revenue/emp, $m 0.29 0.28 0.30 0.34 0.28 0.30 0.35 0.34 0.37 0.31 — +0.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Xerox Holdings Corporation vs peers in Business Equipment & Supplies (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
CXT Crane NXT, Co. $3.4B 24.0× 21.4× +21.96% (above 0%: growing) +44.19% (above 0%: growing) +32.44% (above 0%: growing) 42.30% 13.97% Compare
ACCO Acco Brands Corporation $507.7M 8.7× 7.4× +5.14% (above 0%: growing) −53.13% (below 0%: shrinking) −47.41% (below 0%: shrinking) 32.31% 7.30% Compare
ACTG Acacia Research Corporation $422.6M — (loss-making) — (loss-making) +123.59% (above 0%: growing) n/m −103.95% (below 0%: shrinking) 26.75% 7.43% Compare
XRX Xerox Holdings Corporation $192.4M — (loss-making) — (loss-making) +21.95% (above 0%: growing) n/m +136.67% (above 0%: growing) 35.80% 9.83%
EHGO Eshallgo Inc. $2.4M — — — — −368.18% (below 0%: shrinking) — — Compare
Median of peers $465.1M — — +21.96% — −75.68% 32.31% 7.43%

All 5 Business Equipment & Supplies stocks →

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stockrow.com/XRX · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com