NCR Voyix (VYX) AI Stock Analysis

• Market Cap: $1.06B
• Dividend Yield: N/A
• Average Volume (3M): 1.81M
• Price to Earnings (P/E): 26.0
• Beta (1Y): 1.50
• Revenue Growth: -22.36%
• EPS Growth: 94.85%
• Country: US
• Employees: 14,000
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.31
• Shares Outstanding: 139,011,370
• 10 Day Avg. Volume: 2,198,133
• 30 Day Avg. Volume: 1,813,912
• PEG Ratio: -0.31
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 0.53
• P/FCF Ratio: -3.77
• Enterprise Value/Market Cap: 2.03
• Enterprise Value/Revenue: 0.80
• Enterprise Value/Gross Profit: 3.40
• Enterprise Value/Ebitda: 8.19
• 1Y Price Target: $13.42
• Price Target Upside: 75.65% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): 0.96
• Revenue Forecast (FY): $2.22B

• Rating: 47 Neutral
• Price Target: $7.50 ▼(-1.83% Downside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is primarily held back by weak financial performance—especially deeply negative and deteriorating operating/free cash flow—and a bearish technical setup with the stock trading below all major moving averages. Earnings-call guidance toward improved EBITDA and positive adjusted free cash flow provides some offset, but near-term revenue headwinds and transition-related execution/cash outlay risks remain.

Positive Factors

Platform Modernization

Completing a unified cloud-to-edge platform creates a durable technical moat: simplifies product roadmap, reduces maintenance of legacy stacks, accelerates feature delivery from a 30,000-feature library and enables standardized deployments across retail and restaurant customers, supporting sustained recurring revenue and margin improvement.

Services-led Revenue Mix

A majority-services revenue mix produces higher recurring, contractually-backed cashflows and stickier customer relationships. Services drive long-term customer engagement, cross-sell of software, and higher gross margins versus one-time hardware, underpinning more predictable revenue and defensible competitive positioning.

Enterprise Contracts & Scale

Major enterprise wins and an 80,000-site footprint validate the platform's market fit and create multi-year revenue streams. Large customers increase switching costs, produce sizable long-term service and SaaS opportunities, and provide referenceability that can accelerate future enterprise sales and ecosystem growth.

Negative Factors

Weak Cash Generation

Sustained negative operating and free cash flow erode financial flexibility, forcing reliance on debt, equity or asset sales to fund operations and transitions. This raises execution risk for strategic initiatives and limits ability to invest organically, making durable margin and growth improvements harder to finance.

Transition & Restructuring Cash Burden

Material, near-term cash outlays tied to ODM transition and restructuring pressure free cash flow and liquidity just as the company shifts to a new fulfillment model. These one-time costs can compress runway, divert management attention, and delay realization of expected margin benefits from the model change.

Backlog Conversion & Deployment Timing

Long, seasonal and integration-heavy deployment timelines create uncertain revenue recognition and cash flow timing. Even with robust contract wins, delayed conversions increase execution risk, reduce visibility into near-term revenue growth, and prolong the period before scale-driven margin expansion materializes.

NCR Voyix Business Overview & Revenue Model

Company Description

NCR Corporation provides various software and services in the United States, Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company operates through Retail, Hospitality, Digital Banking, Payments & Network, and Self-Service Banking segments. It offers managed services, including ATM-as-a-Service solutions that allow banks to run their end-to-end ATM channels; software, services, and hardware; and digital banking solutions for financial institution's consumer and business customers. The company also provides solutions for banking channel services, transaction processing, imaging, and branch services. In addition, it offers solutions for retail industry comprising comprehensive API-point of sale (POS) retail software platforms and applications, hardware terminals and peripherals, payment processing solutions, and consumer engagement solutions, as well as self-service kiosks, which consists of self-checkout (SCO). Further, the company provides technology solutions to customers in the hospitality industry comprising table-service, quick-service, and fast casual restaurants. It also offers cloud-based and cloud-enabled software applications for point-of-sale, back office, payment processing, kitchen production, restaurant management, eCommerce, and consumer marketing and loyalty; and hospitality-oriented hardware products, such as POS terminals, kitchen display systems, handheld devices, printers, and peripherals. Additionally, the company provides managed network and infrastructure services to enterprise clients, as well as professional, field, and remote services for network technologies. It also offers solutions for customer account opening and onboarding across digital, branch, and call center channels. NCR Corporation was founded in 1881 and is headquartered in Atlanta, Georgia.

How the Company Makes Money

NCR Voyix generates revenue primarily through the sale of its POS hardware and software solutions, subscription fees for its cloud services, and transaction fees from payment processing services. The company has established significant partnerships with various financial institutions and technology providers, which contribute to its revenue by facilitating seamless payment processing and expanding its market reach. Additionally, NCR Voyix earns recurring revenue from maintenance contracts, software updates, and customer support services, creating a stable income stream while enhancing customer loyalty.

NCR Voyix Financial Statement Overview

Summary

Financials are pressured by weak cash generation: TTM operating cash flow (~-$210M) and free cash flow (~-$460M) are deeply negative and worsening, outweighing modest TTM revenue growth (+1.4%) and a healthier (but still leveraged) balance sheet. Profitability is thin (near-breakeven operating margin) and has been volatile, reducing confidence in durability.

Income Statement

TTM (Trailing-Twelve-Months) revenue grew modestly (+1.4%), but profitability remains thin: operating profit is near breakeven (~0.8% of revenue) and EBITDA margin is under 10%. Net income is positive in TTM, yet margins are weak and have been volatile across years (including losses in 2023 and a sharp revenue decline trend versus 2021–2024), which reduces confidence in earnings quality and durability.

Balance Sheet

Leverage has improved meaningfully versus 2023 (debt-to-equity moved from very elevated levels to ~1.2x in TTM), and equity is materially higher than 2023. That said, absolute debt remains sizable (~$1.3B), and returns to shareholders are currently weak (TTM return on equity is negative), indicating the balance sheet is more stable than before but still not translating into consistent value creation.

Cash Flow

Cash generation is the key pressure point: TTM (Trailing-Twelve-Months) operating cash flow is negative (~-$210M) and free cash flow is deeply negative (~-$460M), with further deterioration versus the prior year. With cash flow running below net income and moving in the wrong direction, funding needs and execution risk rise unless working capital and profitability improve quickly.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.69B	2.83B	3.18B	3.17B	3.69B
Gross Profit	634.00M	579.00M	669.00M	684.00M	925.00M
EBITDA	29.00M	232.00M	308.00M	578.00M	488.00M
Net Income	42.00M	958.00M	-423.00M	60.00M	97.00M
Balance Sheet
Total Assets	3.92B	4.45B	4.99B	11.51B	11.64B
Cash, Cash Equivalents and Short-Term Investments	231.00M	724.00M	259.00M	221.00M	447.00M
Total Debt	1.33B	1.35B	2.83B	5.94B	5.95B
Total Liabilities	2.77B	3.25B	4.69B	9.75B	10.11B
Stockholders Equity	1.16B	1.21B	301.00M	1.75B	1.53B
Cash Flow
Free Cash Flow	-375.00M	-349.00M	317.00M	50.00M	661.00M
Operating Cash Flow	-210.00M	-132.00M	694.00M	427.00M	1.01B
Investing Cash Flow	-134.00M	2.19B	-290.00M	-387.00M	-2.83B
Financing Cash Flow	-175.00M	-1.56B	-839.00M	1.00M	2.18B

NCR Voyix Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VYX, the sentiment is Negative. The current price of 7.64 is below the 20-day moving average (MA) of 9.35, below the 50-day MA of 10.00, and below the 200-day MA of 11.49, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 29.06 is Positive, neither overbought nor oversold. The STOCH value of 15.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VYX.

NCR Voyix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INOD	71 Outperform	$1.44B	48.38	37.72%	―	73.57%	56.21%
FLYW	65 Neutral	$1.49B	123.10	1.64%	―	22.71%	-111.24%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
NABL	61 Neutral	$828.86M	-48.46	-2.18%	―	8.65%	-117.14%
TASK	53 Neutral	$960.24M	9.66	18.65%	―	19.88%	51.03%
VYX	47 Neutral	$1.06B	26.05	3.55%	―	-22.36%	94.85%
BBAI	46 Neutral	$1.73B	-2.79	-111.83%	―	-6.95%	-53.69%

NCR Voyix Corporate Events

NCR Voyix Returns to Profitability with Strong 2025 Results

On February 26, 2026, NCR Voyix reported its fourth-quarter and full-year 2025 results, showing a return to profitability and improved margins despite modest revenue pressure. Quarterly revenue rose to $720 million from $678 million and net income from continuing operations swung to a $78 million profit from an $11 million loss, while adjusted EBITDA climbed to $130 million and non-GAAP diluted EPS improved to $0.31.

For 2025 as a whole, revenue slipped to $2.69 billion from $2.82 billion, but the company moved from a $201 million net loss to $42 million in net income, boosted adjusted EBITDA to $425 million and sharply improved non-GAAP EPS to $0.90. Management highlighted progress in repositioning NCR Voyix as a platform-led business, underscored by the January 2026 launch of its largest cloud-to-edge application portfolio, new long-term POS platform deals with 7-Eleven Philippines and Colruyt Group, an expanding base of 80,000 platform sites, and $78 million of share repurchases.

Looking ahead to 2026, the company guided to lower reported revenue of $2.21 billion to $2.33 billion due to a shift in hardware revenue recognition from an ongoing ODM transition, but indicated pro forma revenue would be roughly flat to modestly higher. NCR Voyix expects adjusted EBITDA and non-GAAP EPS to grow further, alongside a substantial increase in adjusted free cash flow, suggesting improving operational efficiency and a business mix tilting more heavily toward software, services and recurring revenue streams.

The most recent analyst rating on (VYX) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on NCR Voyix stock, see the VYX Stock Forecast page.