NATL
NCR Atleos Corp
Next earnings Aug 4, 2026 · consensus $0.99 EPS, $1.16B rev
Last earnings +1.7% on 2026-05-06
$43.23
▼ -0.18%$43.23▲ +46.29%
over 1Y
L $26.44EODHDH $48.06
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.2%
1W-0.2%
1M-4.1%
3M+0.7%
YTD+16.1%
1Y+46.3%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 9 analysts
Sell
Post-spin turnaround at a fair price: margins and EPS doubling, but leverage stays heavy and recurring revenue actually slipped.
Revenue $4.35B · FY2025
The read
Middling fundamentals offset by an attractive price (~88% below fair value) — worth a look on the value angle.
NCR Atleos is two-and-a-half years post the October 2023 spin-off from NCR Voyix, and FY2025 is the first clean year where the operating story shows through. Net income attributable to Atleos roughly doubled to $162M (+102.5%) on revenue of $4.35B (+1.1%), diluted EPS hit $2.14 (+98.1%), and Adjusted EBITDA grew to $830M at a 19.1% margin (up from 18.2%). The Self-Service Banking + Network + T&T segment mix is throwing off $356M of operating cash flow, and management is actively deleveraging — long-term debt fell 6.5% to $2.67B while cash rose to $456M. ATMaaS revenue jumped from $194M to $258M (+33%), which is the highest-quality piece of the model and the closest thing to a secular growth driver in the filing.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $3.55B | $4.13B | $4.19B | $4.30B | $4.35B |
| Gross profit | — | — | — | — | — |
| Operating income | $248M | $269M | $263M | $437M | $478M |
| Net income | $186M | $108M | -$150M | $80.0M | $162M |
| Diluted EPS | $2.63 | $1.53 | -$2.12 | $1.08 | $2.14 |
| Net margin | 5.2% | 2.6% | -3.6% | 1.9% | 3.7% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$5.48B
EV / EBITDA7.3
EV / Sales1.3
EV / FCF22.9
P / FCF13.3
PEG (trailing)0.20
Earnings yield5.1%
FCF yield7.5%
Quality & risk
ROIC (est.)11.9%
Free cash flow$239M
Total debt$2.76B
Net cash-$2.30B
Altman Z-Score1.47 distress
Piotroski F-Score5/8
Capital returns
Buyback yield0.9%
Dividend yield (est.)—
Shareholder yield0.9%
Shares Δ YoY+0.7%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Other event2026-06-18
Other-events disclosure with exhibit; no operating impact flagged
- 8-K Shareholder vote2026-05-21
Annual meeting voting results filed; routine governance outcome
- 10-Q Quarterly report2026-05-07
Q1 2026 10-Q; recurring revenue mix slipped to 58% SSB vs 61% prior
- 8-K Earnings results2026-05-06
Q1 2026 earnings release; results follow FY25 momentum (EPS +98% YoY)
- DEF 14A Proxy statement2026-04-03
2026 proxy; routine board/comp votes, no contested items disclosed
- 8-K Material agreement2026-03-12
Entered material agreement (likely debt/refi) with Reg FD presentation
- 8-K Reg FD disclosure2026-03-05
Reg FD investor materials posted; no new financial disclosure
- 10-K Annual report2026-02-27
FY25: net income $162M (+102%), EPS $2.14 (+98%), equity +84%, debt -6.5%
- 8-K Material agreement2026-02-26
Material agreement alongside FY25 results commentary; capital-structure step
Recent filings
all on EDGAR ↗425Filing2026-06-18open ↗8-KPeriod ending 2026-06-182026-06-18open ↗425Filing2026-06-18open ↗DEFM14AFiling2026-05-27open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗8-KPeriod ending 2026-05-212026-05-21open ↗425Filing2026-05-12open ↗
Frequently asked
- Is NCR Atleos Corp (NATL) a buy?
- NATL currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Post-spin turnaround at a fair price: margins and EPS doubling, but leverage stays heavy and recurring revenue actually slipped.
- What is NATL's fair value?
- A Modified-Graham model based on NATL's SEC fundamentals estimates a fair value of about $81.32. It is an estimate from reported earnings, not a price target.
- Is NATL overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, NATL currently appears undervalued relative to its SEC-grounded earnings power.
- What is NCR Atleos Corp's quality score?
- NATL scores 71.31372549019608/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001974138, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 1:44:42 PM.
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