NCR Voyix Corp

NCRRP

Country: United StatesPrice: $1002.00Market Cap: $138.6B

Company Profile

Industry: Computers

SIC Sector: Industrial Machinery & Computing

Size: Large Cap($138.6B)

Revenue: $2.7B-4.6% YoY

Net Income: $62.0M-93.5% YoY

Financial Snapshot

Operating Margin1.0%

Return on Equity6.5%

Debt / Equity1.17

Current Ratio1.04

EPS (Diluted)$0.30−95.4%

Buybacks (1y)$74.0M

Buybacks (2y)$130.0M

Shares Retired2.7% / 3.0% 2y

Similar Companies

AAPLApple Inc.

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CSCOCISCO SYSTEMS, INC.

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IBMINTERNATIONAL BUSINESS MACHINES CORP

$220.8B

HPE-PCHewlett Packard Enterprise Co

$198.1B

Shareholder Return

Fiscal 2025

Retired 2.7% of shares last year, 3.0% over two.

Buybacks: $74.0M
Dividends: —

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY22

−48.4% = −38.1% + −16.6%

FY25

−95.4% = −93.5% + −28.9%

Earnings Fewer shares More shares

The two parts do not sum exactly to the total — the difference is the cross-term, plus preferred capital where the company has any. It is left visible rather than distributed into the other two.

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Annual data (10-K) · Last 5 years

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Market Cap	$138.6B	$146.7Best.	$149.5Best.	$97.8Best.	$87.7Best.
Revenue	$2.7B↓5%	$2.8B↓11%	$3.2B	$3.2B↓56%	$7.2B
Operating Income	$26.0M↑168%	-$38.0M↑72%	-$134.0M↓168%	-$50.0M↓292%	$26.0M
Net Income	$62.0M↓94%	$958.0M↑324%	-$428.0M↓813%	$60.0M↓38%	$97.0M
EPS (Diluted)	$0.30↓95%	$6.52↑306%	$-3.16↓1088%	$0.32↓48%	$0.62
Gross Margin	—	—	—	—	—
Operating Margin	1.0%↑172%	-1.3%↑68%	-4.2%↓169%	-1.6%↓534%	0.4%
ROE	6.5%↓94%	102.7%↑106%	-1712.0%↓42329%	4.1%↓48%	7.7%
Total Debt	$1.1B	$1.1B↓57%	$2.6B↓55%	$5.7B↑2%	$5.6B
Shareholders' Equity	$948.0M↑2%	$933.0M↑3632%	$25.0M↓98%	$1.5B↑18%	$1.3B
Current Ratio	1.04↓12%	1.18↑30%	0.90↓20%	1.14↑11%	1.02
Debt / Equity	1.17↓2%	1.18↓99%	103.12↑2571%	3.86↓14%	4.48
Operating Cash Flow	-$210.0M↓59%	-$132.0M↓119%	$694.0M↑63%	$427.0M↓58%	$1.0B
Free Cash Flow	-$375.0M↓131%	-$162.0M↓129%	$564.0M↑68%	$335.0M↓63%	$903.0M

Scored from 10-K1d ago

Metric	Marks Risk-Aware Value	Akre Three-Legged Stool	Druckenmiller Macro-Enhanced Growth	Spier Value Checklist	Pabrai Dhandho Framework	Munger Quality Focus	Ackman Activist Value	Piotroski F-Score	Greenblatt Magic Formula	Lynch GARP	Buffett Quality Compounder	Graham Defensive Value
Verdict	HOLD	PASS	HOLD	BUY	HOLD	PASS	FAIL	FAIL	Not ranked	FAIL	FAIL	FAIL
Score
Analysis
Intrinsic Value						N/A	N/A		N/A	N/A
Margin of Safety	-7649.4%	-5057.0%	-36.2%	-11390.8%	-9442.9%	N/A	N/A	-14527.7%	N/A	N/A	-9059.0%	-14635.3%
Data As Of	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)

Where They Agree

Debt & Leverage
All 8 investors flag NCRRP's debt & leverage
Interest Coverage & Debt/EBITDAIC=0.4x, D/EBITDA=4.3x
✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
Debt Levels1.17
✗AkreDebt/Equity < 0.3✗MungerDebt/Equity < 0.5
Total Debt / Shareholders Equity1.17
✗Ackman<= 1.0
LT Debt / Total Assets Change24.66% -> 28.05%
✗PiotroskiDecreased YoY
Show 4 more metrics ▾Show fewer ▴
Total Debt / Equity1.17
✗Lynch< 0.33
Cash - Long-term Debt$-869.0M
✗LynchPositive preferred
Debt/Equity & Interest CoverageD/E: 1.17, IC: 0.4x
✗BuffettD/E < 0.5 AND Interest Coverage > 5x
LT Debt vs Net Current AssetsLT Debt $1.1B vs NCA $38.0M
✗GrahamLT Debt <= Net Current Assets
Valuation models
NCRRP overvalued: all 8 models price fair value below $1002.00 (median $10.72)
Marks fair value$12.93
✗Marks-7649.4% margin vs $1002.00
Akre fair value$19.43
✗Akre-5057.0% margin vs $1002.00
Druckenmiller fair value$735.76
✗Druckenmiller-36.2% margin vs $1002.00
Spier fair value$8.72
✗Spier-11390.8% margin vs $1002.00
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Pabrai fair value$10.50
✗Pabrai-9442.9% margin vs $1002.00
Piotroski fair value$6.85
✗Piotroski-14527.7% margin vs $1002.00
Buffett fair value$10.94
✗Buffett-9059.0% margin vs $1002.00
Graham fair value$6.80
✗Graham-14635.3% margin vs $1002.00

Where They Disagree

Profitability
No clean pass — all 11 investors flag at least one profitability criterion
Discount to Intrinsic Value
✗Marks>= 20% below intrinsic value
Positive Net Income Frequency20/26 years positive
✓MarksPositive net income in >= 7 of last 10 years
Return on Equity-534.3% (3-yr avg)
✗AkreROE > 20% (3-year avg)
EPS Growth Acceleration
✗DruckenmillerAccelerating EPS growth
Show 19 more metrics ▾Show fewer ▴
Margin of SafetyP/E=3583.3x, P/B=156.8x
✗SpierP/E < 15 AND P/B < 2.0✗PabraiP/B < 1.5 or P/E < 15
Operating Income / Revenue1.0%
✗Ackman>= 15%
Net Income / Shareholders Equity6.5%
✗Ackman>= 15%
Net Income / Total Assets1.58%
✓PiotroskiROA > 0
ROA Change YoY21.52% -> 1.58% (delta: -19.94%)
✗PiotroskiCurrent ROA > Prior ROA
(CFO / Total Assets) vs ROACFO/Assets=-5.36%, ROA=1.58%
✗PiotroskiCFO/Assets > ROA
Gross Margin Change YoY
✗PiotroskiImproved YoY
EBIT / Enterprise Value0.0%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=0.0%, ROC=N/A (invested capital <= 0)
✗GreenblattBoth EY > 10% and ROC > 25%
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
ROE6.5%
✗Lynch> 15%
Net Income Positive (10+ years)20/27 years positive
✗BuffettPositive every year for 10+ years
ROE (5-yr avg)-318.2%
✗Buffett> 15% (5-yr avg)
Operating Margin (10-yr trend)1.0% (latest)
✓BuffettStable or rising over 10 years
Free Cash Flow Proxy$128.0M
✓BuffettPositive and growing
Earnings Variance (10-yr CoV)
✗BuffettCoV < 0.3
Retained Earnings Effectiveness58.82x
✓Buffett$1 retained -> > $1 market value created
Positive EPS (10 years)16/27 years positive
✗GrahamPositive EPS every year for 10 years
EPS Growth (3-yr avg, 10-yr window)
✗Graham>= 33% growth
Valuation
1 of 9 pass — Marks, Spier, Pabrai +5 more object
P/B or P/E vs. Historical AverageP/E=3583.3x, P/B=156.8x
✗MarksP/E < 15 or P/B < 2.0
Discount to Intrinsic Value
✗Marks>= 20% below intrinsic value
Price vs. 200-day MAQualitative
✓DruckenmillerPrice above 200-day moving average
Margin of SafetyP/E=3583.3x, P/B=156.8x
✗SpierP/E < 15 AND P/B < 2.0
Show 9 more metrics ▾Show fewer ▴
P/E or FCF YieldP/E=3583.3x, FCF Yield=-0.3%
✗PabraiP/E < 15 or FCF Yield > 10%
Valuation ReasonablenessP/E=3583.3x, OE Yield=0.1%
✗MungerP/E < 25 or Owner Earnings Yield > 5%
Price / FCF per ShareN/A (negative FCF)
✗Ackman<= 25
EBIT / Enterprise Value0.0%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=0.0%, ROC=N/A (invested capital <= 0)
✗GreenblattBoth EY > 10% and ROC > 25%
P/E / EPS Growth Rate
✗Lynch< 1.0 (ideally < 0.5)
Price / 3-yr avg EPS
✗Graham<= 15x
Price-to-Book Ratio156.8x
✗Graham<= 1.5x
P/E x P/B
✗Graham<= 22.5
Cash Flow
2 of 6 pass — Pabrai, Ackman, Piotroski +1 more object
FCF Positive14/18 years FCF positive
✓MarksPositive FCF in majority of recent years
P/E or FCF YieldP/E=3583.3x, FCF Yield=-0.3%
✗PabraiP/E < 15 or FCF Yield > 10%
(OCF - CapEx) / Market Cap-0.3%
✗Ackman>= 4%
Price / FCF per ShareN/A (negative FCF)
✗Ackman<= 25
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Operating Cash Flow$-210.0M
✗PiotroskiCFO > 0
(CFO / Total Assets) vs ROACFO/Assets=-5.36%, ROA=1.58%
✗PiotroskiCFO/Assets > ROA
FCF Positive and Growing$-375.0M
✗LynchPositive and growing
Free Cash Flow Proxy$128.0M
✓BuffettPositive and growing
Growth
1 of 5 pass — Druckenmiller, Ackman, Lynch +1 more object
Positive Net Income Frequency20/26 years positive
✓MarksPositive net income in >= 7 of last 10 years
EPS Growth Acceleration
✗DruckenmillerAccelerating EPS growth
Revenue Growth RateLatest: -4.6%, Prior: -11.0%
✓DruckenmillerRevenue growth accelerating
3yr Median Revenue Growth-4.6%
✗Ackman>= 5%
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Positive EPS Growth Frequency
✗AckmanPositive EPS growth in >= 3 of last 5 years
P/E / EPS Growth Rate
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
Inventory Growth vs Revenue GrowthInv: 4.3% vs Rev: -4.6%
✗LynchInventory growth < Revenue growth
EPS Growth (3-yr avg, 10-yr window)
✗Graham>= 33% growth
Efficiency
No clean pass — all 6 investors flag at least one efficiency criterion
ROIC (high and growing)4/24 years ROIC > 15% (latest: 1.0%)
✓AkreROIC > 15% for 3+ years
Reinvestment Rate x ROIC1.0% (RR=100% x ROIC=1.0%)
✗AkreReinvestment Rate * ROIC > 10%
Return on Invested Capital1.0%
✗Munger> 15%
Current Ratio Change YoY1.18 -> 1.04
✗PiotroskiIncreased YoY
Show 5 more metrics ▾Show fewer ▴
Revenue / Total Assets Change YoY0.63x -> 0.69x
✓PiotroskiImproved YoY
EBIT / (NWC + Net Fixed Assets)N/A (invested capital <= 0)
✗Greenblatt> 25%
ROIC (3-5 yr avg)-1.2%
✗Buffett> 10%
ROIC - WACC-11.2%
✗BuffettPositive (WACC = 10%)
Current Ratio1.04
✗Graham>= 2.0
Verdicts
Split decision: 5 FAIL · 3 HOLD · 2 PASS · 1 BUY
Overall verdict
•MarksHOLD (5/8)✓AkrePASS (3/7)•DruckenmillerHOLD (5/7)✓SpierBUY (7/8)•PabraiHOLD (6/8)✓MungerPASS (4/7)✗AckmanFAIL (2/9)✗PiotroskiFAIL (F-Score 3)•GreenblattNot ranked✗LynchFAIL (0/7)✗BuffettFAIL (3/9)✗GrahamFAIL (1/9)

Historical Score Timeline

Industry Peers

Similar companies in Computers

NCRRP vs Peers — Financial Grading

Revenue$2.7BBottom 25%

Net Income$62.0MBottom 25%

ROE6.5%Bottom 25%

D/E1.17Median

Op. Margin1.0%Bottom 25%

Curr. Ratio1.04Median

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Apple Inc.AAPL	$4.46T	$305.93	$416.2B	$112.0B	151.9%	1.40	32.0%	0.89	1/9	6/9	3/7	1/3	F-Score 8
CISCO SYSTEMS, INC.CSCO	$440.2B	$111.68	$56.7B	$10.2B	21.7%	0.56	20.8%	1.00	4/9	7/9	3/7	0/3	F-Score 8
INTERNATIONAL BUSINESS MACHINES CORPIBM	$220.8B	$234.32	$67.5B	$10.6B	32.4%	1.68	—	0.96	3/9	3/9	3/7	0/3	F-Score 6
Hewlett Packard Enterprise CoHPE-PC	$198.1B	$150.26	$34.3B	$57.0M	0.2%	1.03	-1.3%	1.01	1/9	1/9	1/7	0/3	F-Score 4
WESTERN DIGITAL CORPWDC	$175.4B	$508.80	$9.5B	$1.9B	35.6%	1.31	24.5%	1.08	1/9	1/9	3/7	1/3	F-Score 4
Fortinet, Inc.FTNT	$117.4B	$160.01	$6.8B	$1.9B	149.8%	0.81	30.7%	1.17	2/9	5/9	5/7	1/3	F-Score 6
NetApp, Inc.NTAP	$40.6B	$207.08	$6.2B	$1.3B	94.4%	1.84	26.8%	1.44	3/9	5/9	3/7	1/3	F-Score 8
HP INCHPQ	$27.5B	$30.11	$55.3B	$2.5B	-730.9%	-30.38	5.7%	0.77	3/9	3/9	1/7	1/3	F-Score 5