NCR Atleos, LLC (NATL) AI Stock Analysis

• Market Cap: $2.95B
• Dividend Yield: N/A
• Average Volume (3M): 809.21K
• Price to Earnings (P/E): 22.5
• Beta (1Y): 0.85
• Revenue Growth: -0.61%
• EPS Growth: N/A
• Country: US
• Employees: 20,000
• Sector: Technology
• Sector Strength: 84
• Industry: Software - Application
• EPS (TTM): 0.93
• Shares Outstanding: 73,585,990
• 10 Day Avg. Volume: 619,200
• 30 Day Avg. Volume: 809,208
• PEG Ratio: -0.16
• Price to Book (P/B): 9.42
• Price to Sales (P/S): 0.57
• P/FCF Ratio: 11.95
• Enterprise Value/Market Cap: 1.53
• Enterprise Value/Revenue: 1.06
• Enterprise Value/Gross Profit: 4.21
• Enterprise Value/Ebitda: 5.82
• 1Y Price Target: $45.00
• Price Target Upside: 14.07% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 66 Neutral
• Price Target: $42.00 ▲(6.46% Upside)

NCR Atleos, LLC demonstrates strong technical momentum and a positive outlook from recent earnings, which are the most significant factors. However, financial performance concerns, particularly high leverage and cash flow issues, moderate the overall score. Valuation is reasonable but not compelling, and the absence of a dividend yield limits its appeal to certain investors.

Positive Factors

Cash Flow

The potential to triple free cash flow generation is enabled by high-margin ATMaaS and network-driven EBITDA expansion, lower cash interest, and more capex-light deals.

Customer Growth

NATL is seeing 9% withdrawal growth versus the industry's ~1%-2%.

Market Positioning

NATL's market positioning is arguably the strongest of peers and best positioned to capture a demand shift for managed and ATMaaS products.

Negative Factors

Market Valuation

NATL trades at a 10% MC/FCF discount to its closest peers and is expected to trade at a premium given FCF growth and profitability improvement.

NCR Atleos, LLC Business Overview & Revenue Model

Company Description

NCR Atleos, LLC (NATL) is a technology-focused company that operates within the sectors of financial services, retail solutions, and telecommunications. The company specializes in providing comprehensive software and hardware solutions that enhance transactional processes, improve customer engagement, and optimize operations for businesses. Key offerings include point-of-sale systems, automated teller machines (ATMs), and cloud-based software platforms designed to facilitate seamless financial and retail operations.

How the Company Makes Money

NCR Atleos, LLC generates revenue primarily through the sale and leasing of its hardware products such as ATMs and point-of-sale systems. Additionally, the company earns income from software subscriptions and service agreements, which provide ongoing support and updates to its technology solutions. NCR Atleos also capitalizes on partnerships with financial institutions and retailers, offering customized solutions that cater to specific operational needs. Service contracts and maintenance agreements further contribute to the company's steady income, ensuring long-term relationships with clients and sustained revenue streams.

NCR Atleos, LLC Financial Statement Overview

Summary

NCR Atleos, LLC shows strong revenue growth but faces challenges in profitability and cash flow generation. High leverage poses financial risks, and improvements in operational efficiency and cash flow management are needed.

Income Statement

NCR Atleos, LLC shows a strong revenue growth rate of 54.2% in the TTM, indicating robust top-line expansion. However, the net profit margin is relatively low at 1.17%, suggesting challenges in converting revenue into profit. The gross profit margin of 25.13% is healthy, but there is room for improvement in operational efficiency as indicated by the EBIT margin of 11.41%.

Balance Sheet

The company's balance sheet reveals a high debt-to-equity ratio of 8.62, indicating significant leverage which could pose financial risks. The return on equity is 17.41%, showing decent profitability for shareholders. However, the equity ratio is low, reflecting a heavy reliance on debt financing.

Cash Flow

The cash flow statement shows a decline in free cash flow growth by 7.69% in the TTM, which is a concern. The operating cash flow to net income ratio of 0.15 suggests limited cash generation relative to net income. However, the free cash flow to net income ratio of 0.54 indicates some ability to generate cash from operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.27B	4.32B	4.19B	4.36B	3.55B
Gross Profit	1.07B	1.03B	933.00M	918.00M	892.00M
EBITDA	776.00M	449.00M	451.00M	447.00M	459.00M
Net Income	50.00M	91.00M	-134.00M	-284.00M	186.00M
Balance Sheet
Total Assets	5.81B	5.55B	5.74B	5.77B	5.58B
Cash, Cash Equivalents and Short-Term Investments	636.00M	419.00M	339.00M	293.00M	238.00M
Total Debt	3.02B	3.05B	3.12B	884.00M	1.46B
Total Liabilities	5.46B	5.29B	5.45B	2.51B	3.24B
Stockholders Equity	350.00M	260.00M	284.00M	3.26B	2.33B
Cash Flow
Free Cash Flow	156.00M	205.00M	223.00M	177.00M	338.00M
Operating Cash Flow	287.00M	344.00M	355.00M	274.00M	449.00M
Investing Cash Flow	-122.00M	-135.00M	-316.00M	-417.00M	-2.49B
Financing Cash Flow	-170.00M	-134.00M	31.00M	183.00M	2.35B

NCR Atleos, LLC Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 39.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NATL, the sentiment is Positive. The current price of 39.45 is above the 20-day moving average (MA) of 39.06, above the 50-day MA of 33.37, and above the 200-day MA of 30.27, indicating a bullish trend. The MACD of 1.79 indicates Positive momentum. The RSI at 63.17 is Neutral, neither overbought nor oversold. The STOCH value of 61.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NATL.

NCR Atleos, LLC Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLUS	75 Outperform	$1.90B	16.61	11.10%	0.35%	-1.96%	5.19%
AGYS	74 Outperform	$3.10B	230.09	5.21%	―	17.91%	-86.60%
NATL	66 Neutral	$2.95B	22.53	44.00%	―	-0.61%	―
CALX	65 Neutral	$3.96B	―	-3.52%	―	-8.80%	-657.91%
Sector *	61 Neutral	$35.83B	9.00	-10.39%	1.87%	8.46%	-7.85%
DBD	61 Neutral	$2.23B	0.78	-1.23%	―	-3.75%	-100.59%
PAR	48 Neutral	$1.96B	―	-12.65%	―	4.90%	-820.72%

NCR Atleos, LLC Corporate Events

NCR Atleos Highlights Growth at Investor Conference

NCR Atleos, LLC announced its participation in an investor conference on September 3-4, 2025, highlighting its strategic growth initiatives and transformation into a software-led ATM as a service company. The company aims to drive growth and profitability through recurring revenue streams and plans to return cash to stockholders, while addressing risks related to its spin-off from NCR Corporation and evolving global regulations.

NCR Atleos Reports Strong Q2 2025 Financial Results

On August 6, 2025, NCR Atleos Corporation reported its second quarter 2025 financial results, highlighting strong performance with revenue reaching $1.10 billion, 70% of which came from recurring revenue. The company’s GAAP net income was $45 million, and adjusted EBITDA was $205 million. The results were driven by growth in ATM outsourcing services and robust hardware demand. The company reaffirmed its growth outlook and announced a $200 million share repurchase program, representing about 10% of its current market capitalization, signaling confidence in its strategic momentum and shareholder value creation.