Diebold Nixdorf (DBD)
Market Price (9/26/2026): $62.81 | Market Cap: $2.2 BilSector: Information Technology | Industry: Electronic Equipment & Instruments
Diebold Nixdorf (DBD)
Market Price (9/26/2026): $62.81Market Cap: $2.2 BilSector: Information TechnologyIndustry: Electronic Equipment & Instruments
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 9.8% Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Automation & Robotics. Themes include Digital Payments, Online Banking & Lending, Show more. | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.3 | Key risksDBD key risks include [1] a substantial debt load that challenges its financial stability and flexibility, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 9.8% |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Automation & Robotics. Themes include Digital Payments, Online Banking & Lending, Show more. |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.3 |
| Key risksDBD key risks include [1] a substantial debt load that challenges its financial stability and flexibility, Show more. |
Qualitative Assessment
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Diebold Nixdorf (DBD) stock has lost about 25% since 5/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Earnings Missed Analyst Expectations and Weak Free Cash Flow.
Diebold Nixdorf's shares declined following its fiscal Q2 2026 earnings release on July 29, 2026, despite reporting adjusted EPS of $1.10, which met some consensus estimates. However, the company missed other analyst expectations of $1.23 EPS by 10.57%, leading to an immediate 9% drop in premarket trading. Additionally, the company reported a negative free cash flow of $11 million for the quarter, largely due to a $40 million inventory build to support future demand and secure memory supply. This weak cash generation raised concerns among analysts during the earnings call, who pressed management on working capital and cash conversion.
2. Increased Cash Tax Payments and Investor Scrutiny on Full-Year Guidance.
Diebold Nixdorf announced that it would become a cash taxpayer in Germany, leading to an estimated $50 million in higher-than-expected discrete tax payments in 2026 related to prior fiscal years (2024 and 2025). Although the company reaffirmed its full-year 2026 guidance for revenue, adjusted EBITDA, and adjusted EPS, analysts expressed "slightly negative to neutral" sentiment, questioning the "back-half weighting" of earnings and the durability of margins given the Q2 performance. This introduced skepticism regarding the company's ability to achieve its ambitious targets.
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Diebold Nixdorf (DBD) stock has lost about 25% since 5/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Earnings Missed Analyst Expectations and Weak Free Cash Flow.
Diebold Nixdorf's shares declined following its fiscal Q2 2026 earnings release on July 29, 2026, despite reporting adjusted EPS of $1.10, which met some consensus estimates. However, the company missed other analyst expectations of $1.23 EPS by 10.57%, leading to an immediate 9% drop in premarket trading. Additionally, the company reported a negative free cash flow of $11 million for the quarter, largely due to a $40 million inventory build to support future demand and secure memory supply. This weak cash generation raised concerns among analysts during the earnings call, who pressed management on working capital and cash conversion.
2. Increased Cash Tax Payments and Investor Scrutiny on Full-Year Guidance.
Diebold Nixdorf announced that it would become a cash taxpayer in Germany, leading to an estimated $50 million in higher-than-expected discrete tax payments in 2026 related to prior fiscal years (2024 and 2025). Although the company reaffirmed its full-year 2026 guidance for revenue, adjusted EBITDA, and adjusted EPS, analysts expressed "slightly negative to neutral" sentiment, questioning the "back-half weighting" of earnings and the durability of margins given the Q2 performance. This introduced skepticism regarding the company's ability to achieve its ambitious targets.
3. Significant Insider Selling Activity.
A notable factor contributing to the stock's decline was the substantial insider selling that occurred during the period. Over the 90 days preceding September 2, 2026, company insiders reportedly sold approximately $35.2 million worth of shares. This significant amount of insider selling, well above the $5 million threshold, can signal a lack of confidence in the company's near-term prospects and negatively influence overall investor sentiment.
4. Softening Banking Segment and Broader Macroeconomic Headwinds.
The company's banking revenue experienced a decline of approximately 6% year-over-year in fiscal Q2 2026, offsetting growth in its retail segment. This softening in Diebold Nixdorf's traditional core business raised concerns among investors about its future performance. Compounding these company-specific issues were broader macroeconomic factors, including a "risk-off tone in markets" driven by surging oil prices above $100 per barrel due to Middle East tensions and hotter-than-expected Producer Price Index (PPI) inflation data, which pressured technology and hardware stocks industry-wide.
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Stock Movement Drivers
Fundamental Drivers
The -22.7% change in DBD stock from 5/31/2026 to 9/25/2026 was primarily driven by a -26.5% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 81.14 | 62.72 | -22.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,856 | 3,872 | 0.4% |
| Net Income Margin (%) | 2.8% | 2.9% | 2.6% |
| P/E Multiple | 26.4 | 19.4 | -26.5% |
| Shares Outstanding (Mil) | 35 | 34 | 2.0% |
| Cumulative Contribution | -22.7% |
Market Drivers
5/31/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| DBD | -22.7% | |
| Market (SPY) | 2.2% | 33.5% |
| Sector (XLK) | 2.9% | 21.7% |
Fundamental Drivers
The -21.6% change in DBD stock from 2/28/2026 to 9/25/2026 was primarily driven by a -36.1% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 80.00 | 62.72 | -21.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,806 | 3,872 | 1.7% |
| Net Income Margin (%) | 2.5% | 2.9% | 15.5% |
| P/E Multiple | 30.4 | 19.4 | -36.1% |
| Shares Outstanding (Mil) | 36 | 34 | 4.4% |
| Cumulative Contribution | -21.6% |
Market Drivers
2/28/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| DBD | -21.6% | |
| Market (SPY) | 13.0% | 38.3% |
| Sector (XLK) | 41.8% | 31.8% |
Fundamental Drivers
The 2.6% change in DBD stock from 8/31/2025 to 9/25/2026 was primarily driven by a 8.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312025 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.11 | 62.72 | 2.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,672 | 3,872 | 5.4% |
| P/S Multiple | 0.6 | 0.6 | -10.0% |
| Shares Outstanding (Mil) | 37 | 34 | 8.1% |
| Cumulative Contribution | 2.6% |
Market Drivers
8/31/2025 to 9/25/2026| Return | Correlation | |
|---|---|---|
| DBD | 2.6% | |
| Market (SPY) | 20.9% | 37.9% |
| Sector (XLK) | 50.4% | 31.7% |
Fundamental Drivers
The 252.2% change in DBD stock from 8/31/2023 to 9/25/2026 was primarily driven by a 132.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312023 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.81 | 62.72 | 252.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,560 | 3,872 | 8.8% |
| P/S Multiple | 0.4 | 0.6 | 39.2% |
| Shares Outstanding (Mil) | 80 | 34 | 132.6% |
| Cumulative Contribution | 252.2% |
Market Drivers
8/31/2023 to 9/25/2026| Return | Correlation | |
|---|---|---|
| DBD | 252.2% | |
| Market (SPY) | 77.8% | 41.4% |
| Sector (XLK) | 127.9% | 35.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DBD Return | - | - | 41% | 49% | 58% | -8% | 204% |
| Peers Return | -6% | -33% | 2% | 44% | -3% | -20% | -27% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| DBD Win Rate | - | - | 80% | 58% | 83% | 56% | |
| Peers Win Rate | 44% | 35% | 63% | 53% | 48% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| DBD Max Drawdown | - | - | - | -22% | -21% | -31% | |
| Peers Max Drawdown | -25% | -51% | -40% | -21% | -36% | -39% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NATL, VYX, FIS, ORCL, TOST.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/25/2026 (YTD)
How Low Can It Go
| Event | DBD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.7% | -18.8% |
| % Gain to Breakeven | 22.9% | 23.1% |
| Time to Breakeven | 24 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.0% | -9.5% |
| % Gain to Breakeven | 20.4% | 10.5% |
| Time to Breakeven | 63 days | 24 days |
In The Past
Diebold Nixdorf's stock fell -18.7% during the 2025 US Tariff Shock. Such a loss loss requires a 22.9% gain to breakeven.
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In The Past
Diebold Nixdorf's stock fell -18.7% during the 2025 US Tariff Shock. Such a loss loss requires a 22.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Diebold Nixdorf (DBD)
Diebold Nixdorf, Inc. (DBD) is a global provider of connected commerce solutions, primarily serving financial institutions and retailers across Western Europe, Eastern Europe, Asia, the Middle East, Africa, and the Americas. For its financial institution clients, the company offers a comprehensive range of hardware, software, and supporting services. This includes essential banking hardware such as cash recyclers, dispensers, intelligent deposit terminals, teller automation tools, and physical security solutions. These are complemented by advanced software platforms like the DN Vynamic suite, designed to manage channel transactions, operations, and facilitate omnichannel integration. Diebold Nixdorf also provides extensive banking services, including proactive monitoring, maintenance, on-demand support, managed services, and crucial cash management solutions.
For its retail customers, Diebold Nixdorf supplies technology vital for modern store environments. This includes mobile point-of-sale (POS) systems, self-checkout terminals, printers, scales, mobile scanners, and banknote and coin processing systems. These retail offerings are backed by a suite of services covering implementation, maintenance, managed mobility, monitoring, and comprehensive store life-cycle management. Through these integrated solutions, Diebold Nixdorf helps its diverse global clientele streamline operations, manage transactions, and enhance consumer experiences.
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Here are 1-3 brief analogies to describe Diebold Nixdorf (DBD):
- It's like a specialized IBM for the banking and retail sectors, providing the essential hardware (like ATMs and self-checkout machines), software, and services that power customer interactions and back-end operations.
- Think of it as a direct peer to NCR, a major global provider of ATMs, self-checkout systems, and the underlying technology and services for financial institutions and retailers.
- It's like the Deere & Co. of banking and retail self-service, building and maintaining the crucial machines and systems—such as ATMs and self-checkout terminals—that keep transactions flowing.
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Diebold Nixdorf's Major Products and Services:
- Financial Hardware: Provides automated teller machines (ATMs), cash recyclers, intelligent deposit terminals, teller automation tools, kiosks, and physical security solutions for banks.
- Retail Hardware: Offers mobile point of sale (POS) and self-checkout terminals, printers, scales, mobile scanners, and banknote/coin processing systems for retailers.
- Banking & Retail Software: Delivers front-end applications and back-end platforms, including the DN Vynamic suite, for managing transactions, operations, omnichannel experiences, and providing analytics.
- Equipment Maintenance & Support: Offers proactive monitoring, incident resolution, preventive, and on-demand maintenance for financial and retail hardware.
- Managed & Outsourcing Services: Provides services such as business process management, solution upgrades, transaction processing, and store life-cycle management for clients.
- Cash Management Services: Supplies specialized services focused on optimizing the handling and flow of cash for financial institutions.
- Implementation & Professional Services: Delivers services for the setup, deployment, and optimization of both banking and retail solutions.
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- Financial Institutions
- Retailers
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Octavio Marquez, President and Chief Executive Officer
Octavio Marquez has served as President and Chief Executive Officer of Diebold Nixdorf since March 2022. He joined Diebold in January 2014 and previously held senior leadership roles across the company's global banking organization and the Americas region, where he led the Global Banking business. Prior to joining Diebold Nixdorf, Marquez served as managing director for the Mexico operations for EMC, a global leader in IT management and cloud computing, where he developed turnaround strategies. He also held several leadership roles at Hewlett Packard, including President of HP Mexico, a role in which he transformed the company into the largest IT business in the market. Marquez also held leadership positions with IBM and NCR.
Thomas Timko, Executive Vice President and Chief Financial Officer
Thomas Timko was appointed Executive Vice President and Chief Financial Officer of Diebold Nixdorf, effective May 17, 2024. He joined Diebold Nixdorf from GE, where he served for nearly six years as global chief accounting officer (CAO) and controller, playing a key role in the transformation of GE into three stand-alone companies. Before his tenure at GE, Timko spent over five years at General Motors (GM) as CAO and controller. His career also includes leadership positions as vice president and chief accounting officer at Applied Materials, and as chief accounting officer and controller at Delphi Corporation.
Elizabeth Radigan, Executive Vice President, Chief Administrative Officer and Corporate Secretary
Elizabeth Radigan serves as executive vice president, chief administrative officer and corporate secretary for Diebold Nixdorf. In this role, she is responsible for leading the company's global legal, human resources, and corporate compliance programs, as well as enterprise risk management, real estate and facilities, information security, and internal communications.
Joe Myers, Executive Vice President, Chief Revenue Officer
Joe Myers serves as executive vice president, chief revenue officer for Diebold Nixdorf. He is responsible for leading the company's global Banking and Retail sales teams to deliver integrated, customer-focused solutions. Myers joined Diebold Nixdorf in 2022 as Executive Vice President, Global Banking.
Andy Zosel, Executive Vice President and Chief Product & Technology Officer
Andy Zosel is the Executive Vice President and Chief Product & Technology Officer at Diebold Nixdorf. He and his team are responsible for defining global standards for efficient execution and supporting the seamless deployment and integration of solutions across various markets and customer environments. Under his leadership, the Product & Technology organization focuses on leveraging artificial intelligence and other emerging technologies. Prior to joining Diebold Nixdorf, Zosel served as senior vice president for the Intelligent Automation businesses (RFID, Machine Vision & Robotics) at Zebra Technologies.
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The key risks to Diebold Nixdorf's business are primarily driven by the evolving landscape of the financial and retail sectors, its financial structure, and global operational challenges.
- Intense Market Competition and Digital Transformation: Diebold Nixdorf operates in a highly dynamic environment characterized by rapid technological advancements and shifting consumer behaviors towards digital banking and retail experiences. The company faces formidable competition from established players like NCR Corporation, Fujitsu, and GK Software. A significant risk is the ongoing substitution threat from digital alternatives such as mobile wallets and fintech platforms, which are replacing physical cash transactions at ATMs and in-store checkouts. The sustained adoption of digital payments and cashless trends threatens the long-term demand for Diebold Nixdorf's traditional physical products and limits new market growth potential. The company's strategic pivot from low-margin hardware sales to higher-margin recurring software and managed services contracts is crucial for its future competitiveness, but this transition itself carries execution and scaling risks.
- High Debt Levels and Financial Resilience: Diebold Nixdorf has a history of substantial indebtedness, which previously led to a Chapter 11 restructuring that concluded in 2023. While the company has focused on debt reduction and improving its capital structure, it still requires sufficient cash flows and capital resources to fund its debt service obligations and other liquidity needs. The company's debt levels have historically raised concerns regarding its ability to convert earnings before interest and taxes (EBIT) to free cash flow, and its liabilities have at times outweighed its market capitalization.
- Supply Chain Vulnerabilities and Tariffs: The company's global operations expose it to risks related to supply chain integrity and the impact of tariff policies. For instance, in Q1 2025, new tariffs were estimated to have a gross impact of approximately $20 million, affecting key components. These vulnerabilities can lead to operational cost pressures and affect the company's profitability and cost structures.
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The accelerated global adoption of purely digital payment methods (such as mobile wallets, peer-to-peer payments, and central bank digital currencies) is an emerging threat. This trend diminishes the fundamental need for physical cash handling infrastructure (e.g., ATMs, cash recyclers, intelligent deposit terminals, banknote and coin processing systems) and traditional physical point-of-sale terminals, which constitute a significant portion of Diebold Nixdorf's core hardware and related service offerings.
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Diebold Nixdorf (DBD) operates within several significant addressable markets for its banking and retail solutions globally.
Banking Solutions
- Automated Teller Machine (ATM) Market: The global ATM market size was valued at approximately USD 25.61 billion in 2025 and is projected to reach nearly USD 35.8 billion by 2032. North America held the largest share of the ATM market, accounting for 31.34% in 2024. Diebold Nixdorf holds a 32% share of the global ATM market.
- Banking Process Automation Market: The global Banking Process Automation Market is anticipated to reach approximately USD 19.1 billion by 2032, increasing from its 2022 value of USD 3.0 billion.
- AI and Automation in Banking Market: The global AI and automation in banking market size was estimated at USD 42.64 billion in 2025 and is projected to reach USD 239.64 billion by 2033. In 2025, North America accounted for a 37.8% share of this market.
- Cash Management System Market: The global cash management system market was valued at USD 17.6 billion in 2024 and is projected to reach USD 36.92 billion by 2030. In 2024, the Europe cash management system market dominated the global market with a 31.1% share. North America was the largest region in the cash management system market in 2025.
Retail Solutions
- Self-checkout Systems Market: The global self-checkout systems market size was estimated at USD 5.71 billion in 2025 and is predicted to grow to approximately USD 20.15 billion by 2035. North America held the largest share of this market with 43% in 2025. Diebold Nixdorf is a leader in self-service checkout shipments in the EMEA region (Europe, Middle East, and Africa), with a 40% market share as of August 2024.
- Point-of-Sale (POS) Terminal Market: The global point-of-sale terminal market size was valued at USD 123.15 billion in 2025 and is projected to reach USD 226.87 billion by 2033. Asia Pacific dominated the POS terminal market with a 30% share in 2023. The North America POS Terminals Market held 24.70% of the global market revenue in 2025.
- Retail Technology Market: The global Retail Technology Market size was valued at USD 266.4 billion in 2024 and is expected to grow to USD 500 billion by 2035. North America is the dominant region, with a valuation of USD 100 billion in 2024, projected to grow to USD 180 billion by 2035.
- Smart Retail Market: The global smart retail market size was estimated at USD 43.13 billion in 2024 and is projected to reach USD 450.69 billion by 2033. In 2024, North America dominated the smart retail market with a 34.1% revenue share.
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- Growth in Banking Segment Solutions: Diebold Nixdorf anticipates continued revenue growth from its banking segment, driven by strong demand for its DN Series ATMs and increased adoption of cash recycling technology. The company expects to refresh its global ATM install base, with a significant portion of its anticipated banking product revenue for 2024 already covered by its backlog.
- Expansion of Retail Self-Checkout and AI-Driven Solutions: The company expects growth in its retail segment, fueled by robust demand for self-checkout (SCO) units due to ongoing labor challenges and the enhancement of customer and staff experiences. Additionally, Diebold Nixdorf is focused on scaling its AI-driven solutions in North American retail, securing new customer wins in this area.
- Increased Service and Software Attach Rates and Recurring Revenue: A key driver of future revenue growth is the strong attach rate of service and software to hardware sales. The recurring nature of this service and software revenue, along with expanded service offerings, software-enabled automation initiatives, and cash management solutions, is expected to contribute to sustained growth.
- Geographic Expansion and Market Penetration: Diebold Nixdorf is actively pursuing geographic expansion and deeper market penetration. This includes strengthening its presence in the North American market, particularly with leading Quick Service Restaurant (QSR) brands, and making strategic investments in local manufacturing and sales teams. The company is also expanding into the APAC region with new ATM products and has re-entered the Indian market with local manufacturing.
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Share Repurchases
- In February 2026, Diebold Nixdorf completed two share repurchase programs, repurchasing 2,307,275 shares for a total of US$150.57 million.
- The Board of Directors authorized a new share repurchase program of up to $200 million in November 2025.
- In fiscal year 2025, Diebold Nixdorf repurchased approximately $128 million of shares, which represented about 6% of the total shares outstanding and completed an initial $100 million program.
Outbound Investments
- Diebold Nixdorf's "Change in Acquisitions & Divestments" amounted to $306.0 million for fiscal year 2025.
- "Purchases of Investments" for Diebold Nixdorf in 2025 was USD -71.0 million.
- The company maintains a pipeline for potential tuck-in acquisitions, specifically targeting service opportunities that are immediately accretive and low multiple.
Capital Expenditures
- Diebold Nixdorf's capital expenditures were $55.0 million in 2021.
- Capital expenditures for 2022 amounted to $59.0 million.
- In 2023, the company reported capital expenditures of $49.0 million.
Peer Outperformance in Electronic Equipment & Instruments
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 68.8% | 203.4% | 292.1% | TTMI 931% · FLEX 720% · SANM 472% |
| Semiconductor Materials & Equipment | 27 | 98.9% | 100.0% | 115.6% | AXTI 818% · AEHR 560% · LRCX 443% |
| Technology Distributors | 9 | 42.3% | 87.0% | 104.8% | CLMB 416% · AVT 210% · SNX 152% |
| Communications Equipment | 36 | 17.2% | 81.5% | 68.7% | AAOI 1301% · FEIM 1056% · LITE 988% |
| Electronic Components | 26 | 49.4% | 72.5% | 66.4% | CLS 3763% · BELFA 1387% · COHR 381% |
| Semiconductors | 55 | 34.1% | 43.0% | 40.1% | POET 1808% · MU 1399% · NVDA 924% |
| Technology Hardware, Storage & Peripherals | 20 | 22.7% | 129.4% | 33.3% | STX 1127% · DELL 1084% · SMCI 1060% |
| Internet Services & Infrastructure | 6 | 2.2% | 49.1% | 28.3% | DOCN 69% · GDDY 37% · VRSN 34% |
| Electronic Equipment & Instruments ← | 26 | -15.9% | 15.2% | -11.2% | PI 190% · OSIS 110% · KEYS 103% |
| IT Consulting & Other Services | 30 | -23.9% | -17.4% | -36.6% | CHRN 522268% · APLD 1124% · TSSI 797% |
| Application Software | 124 | -30.0% | -12.7% | -48.3% | VIDA 144067% · INLX 4910% · PLTR 564% |
| Systems Software | 72 | -20.8% | 11.1% | -63.1% | QNC 609% · ZETA 391% · PANW 358% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.74 |
| Mkt Cap | 3.4 |
| Rev LTM | 4,419 |
| Op Inc LTM | 435 |
| FCF LTM | 212 |
| FCF 3Y Avg | 282 |
| CFO LTM | 279 |
| CFO 3Y Avg | 386 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.4% |
| Rev Chg 3Y Avg | 17.5% |
| Rev Chg Q | 1.7% |
| QoQ Delta Rev Chg LTM | 0.4% |
| Op Inc Chg LTM | 45.7% |
| Op Inc Chg 3Y Avg | 59.9% |
| Op Mgn LTM | 7.0% |
| Op Mgn 3Y Avg | 6.1% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 7.1% |
| CFO/Rev 3Y Avg | 7.5% |
| FCF/Rev LTM | 5.5% |
| FCF/Rev 3Y Avg | 5.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.4 |
| P/S | 0.8 |
| P/Op Inc | 9.0 |
| P/EBIT | 9.3 |
| P/E | 17.4 |
| P/CFO | 7.9 |
| Total Yield | 5.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.2% |
| D/E | 0.9 |
| Net D/E | 0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -9.9% |
| 3M Rtn | -7.3% |
| 6M Rtn | 3.1% |
| 12M Rtn | -29.7% |
| 3Y Rtn | 50.6% |
| 1M Excs Rtn | -10.8% |
| 3M Excs Rtn | -12.5% |
| 6M Excs Rtn | -18.2% |
| 12M Excs Rtn | -47.2% |
| 3Y Excs Rtn | -33.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Banking | 2,797 | 2,763 | 2,422 | 2,711 | |
| Retail | 1,009 | 988 | 1,018 | 1,194 | 1,052 |
| Held for sale non-core European retail business | 0 | 0 | 20 | 0 | |
| Americas Banking | 1,419 | ||||
| Eurasia Banking | 1,431 | ||||
| Total | 3,806 | 3,751 | 3,461 | 3,905 | 3,902 |
| $ Mil | 2025 | 2024 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Banking | 507 | 451 | 311 | 441 | |
| Retail | 125 | 122 | 134 | 165 | 67 |
| Amortization of fair value assets | 0 | 0 | -70 | -78 | |
| Held for sale non-core European retail business | 0 | 0 | -29 | 0 | |
| Impairment of assets | 0 | -2 | -112 | -1 | -8 |
| Refinancing related costs | 0 | -16 | -32 | 0 | |
| Net non-routine income | -0 | -1 | -43 | -17 | -142 |
| Restructuring and other saving initiative expenses | -94 | -106 | -124 | -99 | -182 |
| Corporate charges not allocated to segments | -295 | -265 | -247 | -272 | -57 |
| Americas Banking | 185 | ||||
| Eurasia Banking | 160 | ||||
| Total | 242 | 182 | -212 | 137 | 24 |
| $ Mil | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|
| DI | 1,600 | 1,499 | 1,504 | 1,423 | 1,258 |
| DNA | 993 | 1,019 | 1,016 | 1,132 | 1,198 |
| ES & Other | 82 | ||||
| Total | 2,593 | 2,517 | 2,520 | 2,555 | 2,538 |
Price Behavior
| Market Price | $62.72 | |
| Market Cap ($ Bil) | 2.2 | |
| First Trading Date | 08/14/2023 | |
| Distance from 52W High | -30.9% | |
| 50 Days | 200 Days | |
| DMA Price | $71.78 | $75.32 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -12.6% | -16.7% |
| 3M | 1YR | |
| Volatility | 46.0% | 39.8% |
| Downside Capture | 302.75 | 139.74 |
| Upside Capture | 75.27 | 125.56 |
| Correlation (SPY) | 31.8% | 38.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.50 | 1.81 | 1.13 | 1.18 | 1.19 | 1.09 |
| Up Beta | 1.10 | -0.48 | -0.37 | 0.29 | 0.70 | 0.93 |
| Down Beta | -2.11 | 4.36 | 1.33 | 1.30 | 1.29 | 1.28 |
| Up Capture | 113% | 113% | 117% | 118% | 142% | 205% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 20 | 32 | 63 | 133 | 398 |
| Down Capture | 388% | 309% | 192% | 165% | 126% | 99% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 22 | 32 | 64 | 118 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DBD | |
|---|---|---|---|---|
| DBD | 10.8% | 39.7% | 0.35 | - |
| Sector ETF (XLK) | 41.7% | 26.4% | 1.28 | 32.4% |
| Equity (SPY) | 17.7% | 13.0% | 0.98 | 38.5% |
| Gold (GLD) | 14.7% | 29.3% | 0.46 | 11.7% |
| Commodities (DBC) | 46.8% | 20.7% | 1.75 | -24.0% |
| Real Estate (VNQ) | 4.5% | 13.6% | 0.07 | 23.5% |
| Bitcoin (BTCUSD) | -25.5% | 44.8% | -0.53 | 22.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DBD | |
|---|---|---|---|---|
| DBD | 24.3% | 40.7% | 0.96 | - |
| Sector ETF (XLK) | 21.3% | 26.0% | 0.73 | 35.3% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 40.7% |
| Gold (GLD) | 19.2% | 18.8% | 0.83 | 7.0% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | -1.0% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 30.2% |
| Bitcoin (BTCUSD) | 12.3% | 52.6% | 0.41 | 17.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DBD | |
|---|---|---|---|---|
| DBD | 11.5% | 40.7% | 0.96 | - |
| Sector ETF (XLK) | 24.8% | 25.0% | 0.90 | 35.3% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 40.7% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 7.0% |
| Commodities (DBC) | 8.7% | 18.1% | 0.39 | -1.0% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 30.2% |
| Bitcoin (BTCUSD) | 63.9% | 66.2% | 1.04 | 17.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/30/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/30/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/11/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 05/10/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 10/28/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/05/2020 | 10-Q |
| 12/31/2019 | 02/26/2020 | 10-K |
| 09/30/2019 | 10/29/2019 | 10-Q |
| 06/30/2019 | 07/30/2019 | 10-Q |
| 03/31/2019 | 04/30/2019 | 10-Q |
Insider Activity
Updated 7/31/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Timko, Thomas S | EVP, CFO | Revocable Trust | Buy | 7312026 | 72.29 | 700 | 50,603 | 226,412 | Form |
| 2 | Millstreet, Capital Management Llc | See Footnote | Sell | 6302026 | 84.80 | 100,000 | 8,480,490 | 348,075,945 | Form | |
| 3 | Millstreet, Capital Management Llc | See Footnote | Sell | 6262026 | 85.06 | 2,741 | 233,136 | 357,607,964 | Form | |
| 4 | Millstreet, Capital Management Llc | See Footnote | Sell | 6262026 | 83.95 | 228,723 | 19,201,204 | 353,190,490 | Form | |
| 5 | Millstreet, Capital Management Llc | See Footnote | Sell | 6162026 | 83.91 | 1,765 | 148,105 | 372,224,905 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Timko, Thomas S | EVP, CFO | Revocable Trust | Buy | 7312026 | 72.29 | 700 | 50,603 | 226,412 | Form |
| 2 | Millstreet, Capital Management Llc | See Footnote | Sell | 6302026 | 84.80 | 100,000 | 8,480,490 | 348,075,945 | Form | |
| 3 | Millstreet, Capital Management Llc | See Footnote | Sell | 6262026 | 85.06 | 2,741 | 233,136 | 357,607,964 | Form | |
| 4 | Millstreet, Capital Management Llc | See Footnote | Sell | 6262026 | 83.95 | 228,723 | 19,201,204 | 353,190,490 | Form | |
| 5 | Millstreet, Capital Management Llc | See Footnote | Sell | 6162026 | 83.91 | 1,765 | 148,105 | 372,224,905 | Form | |
| 6 | Millstreet, Capital Management Llc | See Footnote | Sell | 6162026 | 82.12 | 159,675 | 13,112,192 | 364,411,846 | Form | |
| 7 | Millstreet, Capital Management Llc | See Footnote | Sell | 6122026 | 82.06 | 1,108 | 90,922 | 377,257,392 | Form | |
| 8 | Millstreet, Capital Management Llc | See Footnote | Sell | 6122026 | 82.08 | 17,660 | 1,449,568 | 377,449,480 | Form | |
| 9 | Millstreet, Capital Management Llc | See Footnote | Sell | 6102026 | 82.99 | 88,334 | 7,330,989 | 383,098,318 | Form | |
| 10 | Marquez, Octavio | President and CEO | Direct | Buy | 5272026 | 79.56 | 621 | 49,408 | 17,305,118 | Form |
| 11 | Marquez, Octavio | President and CEO | Direct | Buy | 5272026 | 79.37 | 629 | 49,926 | 17,215,131 | Form |
| 12 | Myers, Jonathan | EVP, Chief Revenue Officer | Direct | Buy | 5222026 | 73.41 | 1,360 | 99,838 | 3,349,405 | Form |
| 13 | Timko, Thomas S | EVP, CFO | Direct | Buy | 5222026 | 74.36 | 672 | 49,970 | 5,612,693 | Form |
| 14 | Millstreet, Capital Management Llc | See Footnote | Sell | 4172026 | 84.77 | 60,833 | 5,157,063 | 398,814,497 | Form | |
| 15 | Millstreet, Capital Management Llc | See Footnote | Sell | 4172026 | 85.43 | 51,472 | 4,397,325 | 407,103,773 | Form | |
| 16 | Millstreet, Capital Management Llc | See Footnote | Sell | 4102026 | 82.42 | 399,929 | 32,960,468 | 396,975,728 | Form | |
| 17 | Millstreet, Capital Management Llc | See Footnote | Sell | 1202026 | 68.00 | 500,000 | 34,000,000 | 354,733,696 | Form | |
| 18 | Millstreet, Capital Management Llc | See Footnote | Sell | 11072025 | 64.52 | 40,522 | 2,614,548 | 368,849,396 | Form | |
| 19 | Millstreet, Capital Management Llc | See Footnote | Sell | 11072025 | 62.93 | 211,204 | 13,292,081 | 362,327,853 | Form | |
| 20 | Millstreet, Capital Management Llc | See Footnote | Sell | 9222025 | 60.08 | 38,963 | 2,340,940 | 358,587,917 | Form | |
| 21 | Millstreet, Capital Management Llc | See Footnote | Sell | 9182025 | 60.11 | 20,000 | 1,202,250 | 361,117,488 | Form |
Investor Activity (13F)
Updated Sep 26, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Beach Point Capital Management LP | $60.4 Mil | 23.9% | 8 | TRIM -27.2% | 13F |
| 325 Capital LLC | $18.3 Mil | 6.7% | 12 | ADD +25.2% | 13F |
| Irenic Capital Management LP | $36.3 Mil | 3.3% | 42 | TRIM -25.4% | 13F |
| Glendon Capital Management LP | $16.3 Mil | 2.0% | 25 | TRIM -72.6% | 13F |
| Fidelity National Financial, Inc. | $7.8 Mil | 0.3% | 21 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Beach Point Capital Management LP | $60.4 Mil | 23.9% | 8 | TRIM -27.2% | 13F |
| Irenic Capital Management LP | $36.3 Mil | 3.3% | 42 | TRIM -25.4% | 13F |
| 325 Capital LLC | $18.3 Mil | 6.7% | 12 | ADD +25.2% | 13F |
| Glendon Capital Management LP | $16.3 Mil | 2.0% | 25 | TRIM -72.6% | 13F |
| Fidelity National Financial, Inc. | $7.8 Mil | 0.3% | 21 | Hold | 13F |
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