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NCR Voyix
(NYSE:VYX)
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Rating:52Neutral
Price Target:
$7.00
▼(-13.90% Downside)
Action:Reiterated
Date:09/07/26
The score is held back primarily by weak financial performance, especially persistent negative free cash flow alongside declining revenue and thin margins, despite improved leverage. Technical indicators are supportive with the stock trading above major moving averages and positive momentum, but valuation is only average (P/E ~22) with no dividend yield support.
Positive Factors
Improved Balance Sheet
The substantial reduction in leverage lowers balance-sheet risk and improves financial flexibility compared with 2023. Although debt still exceeds equity, the healthier capital structure should make it easier to fund operations, manage volatility, and pursue recurring software opportunities.
Negative Factors
Revenue Decline
Persistent revenue contraction signals that the company has not yet converted its software transition into sustained reported growth. Continued top-line pressure can limit operating leverage, reduce investment capacity, and make it harder for improved profitability to become durable over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Balance Sheet
The substantial reduction in leverage lowers balance-sheet risk and improves financial flexibility compared with 2023. Although debt still exceeds equity, the healthier capital structure should make it easier to fund operations, manage volatility, and pursue recurring software opportunities.
Read all positive factors
NCR Voyix (VYX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$989.96M
Dividend YieldN/A
Average Volume (3M)3.07M
Price to Earnings (P/E)17.3
Beta (1Y)1.50
Revenue Growth-5.34%
EPS GrowthN/A
CountryUS
Employees13,500
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.42
Shares Outstanding138,069,900
10 Day Avg. Volume3,147,456
30 Day Avg. Volume3,068,185
Financial Highlights & Ratios
PEG Ratio-0.36
Price to Book (P/B)1.22
Price to Sales (P/S)0.53
P/FCF Ratio-3.77
Enterprise Value/Market Cap2.42
Enterprise Value/Revenue0.95
Enterprise Value/Gross Profit3.78
Enterprise Value/Ebitda10.41
Forecast
1Y Price Target
$12.25Price Target Upside50.68% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.92
Revenue Forecast (FY)$2.20B
NCR Voyix Business Overview & Revenue Model
Company Description
NCR Corporation, an Atlanta, Georgia-based company established in 1881, offers a broad spectrum of software and services to customers across global markets, including the United States, the Americas, Asia Pacific, Europe, the Middle East, and Afri...
How the Company Makes Money
NCR Voyix makes money primarily by selling and supporting software and technology solutions used by retailers and restaurants/hospitality operators to run day‑to‑day operations and manage customer transactions.
Key revenue streams generally inclu...
NCR Voyix Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call highlighted meaningful operational progress: margin expansion, positive adjusted free cash flow, strong early commercial traction for the Voyix Commerce Platform (21 contracts, $293M RCV), notable retail momentum, AI/product deployment scale (Picklist Assist), and disciplined capital returns. Offsetting these positives were a modest overall revenue decline (-1%), restaurant segment weakness (-6% revenue), restructuring and ODM transition costs that produced a GAAP loss, and an early-stage position for platform penetration (new software still under 5% of enterprise customers). Management provided a pro forma FY outlook with modest adjusted EBITDA growth and emphasized continued sales cadence and product rollouts. On balance, the strategic progress and cash/margin improvements outweigh near-term transition and SMB challenges, suggesting constructive momentum but with execution risk during the transition to subscription and the hardware/ODM model.Positive Updates
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA increased 5% to $78 million in Q1 2026; adjusted EBITDA margin expanded 80 basis points to 12.9%, driven by early Voyix Commerce Platform momentum and cost actions implemented in 2025.
Negative Updates
Small Overall Revenue Decline
Total company revenue decreased 1% in Q1 to $606 million, reflecting declines in nonrecurring hardware and one-time services.
Read all updates
Q1-2026 Updates
Positive
Negative
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA increased 5% to $78 million in Q1 2026; adjusted EBITDA margin expanded 80 basis points to 12.9%, driven by early Voyix Commerce Platform momentum and cost actions implemented in 2025.
Read all positive updates
Company Guidance
NCR Voyix updated its 2026 full‑year guidance (pro forma excluding the Japan banking business) to revenue of $2.188–$2.303 billion and adjusted EBITDA of $432–$447 million (which the company said implies roughly a pro‑forma revenue change of about −2% to +3% year‑over‑year and adjusted‑EBITDA growth of ~3%–7% Y/Y); management expects 2026 revenue seasonality to be broadly consistent with 2025 while adjusted EBITDA growth will be more weighted to Q4 versus Q2/Q3, a full‑year tax rate of ~21%, CapEx for the year to be similar to 2025 (Q1 CapEx $36M, down $3M YoY), and noted Q1 actions including ~$41M of restructuring, repurchases of ~9M common shares, adjusted free cash flow before restructuring of $71M, and a net leverage of 2.1x (net debt / LTM adjusted EBITDA); the company will emphasize recurring revenue (while still reporting ARR) and has provided pro‑forma historical adjustments in its metrics file.NCR Voyix Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
55
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.53B | 2.69B | 2.83B | 3.18B | 3.17B | 3.69B |
| Gross Profit | 633.00M | 634.00M | 579.00M | 669.00M | 684.00M | 925.00M |
| EBITDA | 230.00M | 260.00M | 232.00M | 308.00M | 578.00M | 488.00M |
| Net Income | 76.00M | 42.00M | 958.00M | -423.00M | 60.00M | 97.00M |
Balance Sheet | ||||||
| Total Assets | 3.85B | 3.92B | 4.45B | 4.99B | 11.51B | 11.64B |
| Cash, Cash Equivalents and Short-Term Investments | 237.00M | 239.00M | 724.00M | 259.00M | 221.00M | 447.00M |
| Total Debt | 1.10B | 1.60B | 1.35B | 2.83B | 5.94B | 5.95B |
| Total Liabilities | 2.72B | 2.77B | 3.25B | 4.69B | 9.75B | 10.11B |
| Stockholders Equity | 1.13B | 1.16B | 1.21B | 301.00M | 1.75B | 1.53B |
Cash Flow | ||||||
| Free Cash Flow | -107.00M | -375.00M | -349.00M | 317.00M | 50.00M | 661.00M |
| Operating Cash Flow | 175.00M | -210.00M | -132.00M | 694.00M | 427.00M | 1.01B |
| Investing Cash Flow | -89.00M | -134.00M | 2.19B | -290.00M | -387.00M | -2.83B |
| Financing Cash Flow | -146.00M | -175.00M | -1.56B | -839.00M | 1.00M | 2.18B |
NCR Voyix Technical Analysis
Neutral
8.13
Price Trends
7.80
Negative
7.74
Negative
7.98
Negative
Market Momentum
-0.23
Negative
48.47
Neutral
94.27
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VYX, the sentiment is Neutral. The current price of 8.13 is above the 20-day moving average (MA) of 6.96, above the 50-day MA of 7.80, and above the 200-day MA of 7.98, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 48.47 is Neutral, neither overbought nor oversold. The STOCH value of 94.27 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for VYX.
NCR Voyix Risk Analysis
NCR Voyix disclosed 41 risk factors in its most recent earnings report. NCR Voyix reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NCR Voyix Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $10.49B | 21.93 | 23.49% | 1.57% | 6.66% | 11.84% | |
70 Outperform | $17.67B | 5.39 | 22.57% | 4.89% | 18.26% | 2280.55% | |
67 Neutral | $24.49B | 8.94 | 10.77% | 0.49% | -1.17% | -13.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $260.18M | 14.34 | 19.22% | ― | -26.52% | 30.98% | |
53 Neutral | $301.81M | -1.51 | -32.65% | ― | 5.13% | -359.12% | |
52 Neutral | $989.96M | 17.35 | 6.69% | ― | -5.34% | ― |
* Technology Sector Average
VYX
NCR Voyix
7.20
-4.59
-38.93%
FIS
Fidelity National Info
35.20
-28.91
-45.09%
FISV
Fiserv
46.66
-74.45
-61.47%
JKHY
Jack Henry & Associates
153.08
0.93
0.61%
TSSI
TSS
8.81
-9.25
-51.22%
PSFE
Paysafe
5.75
-6.61
-53.48%
NCR Voyix Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
NCR Voyix Q2 2026 Results Highlight Software Growth
Positive
Aug 5, 2026
NCR Voyix Corporation, listed on the NYSE under the ticker VYX, operates as a platform-powered leader in unified commerce for shopping and dining. The company focuses on software, services and payments through its Voyix Commerce Platform, supporti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.