Unisys
UIS on NYSE. Unisys sells computer services and software to companies and governments. Market value $169m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Recent profit includes a big one-time charge, so we price the company excluding that charge.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $45.30 of spare cash in the past 12 months. A savings account pays about $4.
You pay 4.6 years of operating profit for the business. The average large US company costs around 18.
The filings do not give us enough to work this out.
Quality score: 27 of 100. Price score: 66 of 100. Our list needs 70 on quality and 60 on price.
$2.31 a share, 17% above its 1-year low
Over the past year the price has ranged from $1.97 to $4.98.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $76 million in the past 12 months, a shortfall of $170 million in the year to December 2025.
| Revenue | |||||
| Revenue | $2.1bn | $2.0bn | $2.0bn | $2.0bn | $2.0bn |
| Operating margin | |||||
| Operating margin | 7.5% | 2.6% | 3.8% | 4.8% | 4.0% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.07bn | 0.07bn | 0.07bn | 0.07bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)1 of 8 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsShrinking, 0.8% a year
- Buying back its own sharesNo, 8% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $474 million last quarter, down 2% on a year ago.
- A loss of $95 million, compared with a loss of $20 million a year ago.
- It keeps 1 cents of each $1 of sales as operating profit, down from 5 cents a year earlier.
- Spare cash over the past 12 months: $76 million. A year earlier it spent $208 million more than it brought in.
- 2% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $409 million more than cash, up from $398 million a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $497m |
| December 2024 | $545m |
| March 2025 | $432m |
| June 2025 | $483m |
| September 2025 | $460m |
| December 2025 | $575m |
| March 2026 | $438m |
| June 2026 | $474m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$62m |
| December 2024 | $30m |
| March 2025 | -$30m |
| June 2025 | -$20m |
| September 2025 | -$309m |
| December 2025 | $19m |
| March 2026 | -$36m |
| June 2026 | -$95m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 154 funds in all.
- Barrow HanleyBarrow Hanley team
- Value
- $1,797
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Barrow HanleyBarrow Hanley team | $1,797 | <0.1% |
Largest holders overall
- Neuberger Berman Group$20mAdded
- BlackRock$19mAdded
- Needham Investment Management$16m
- Vanguard Portfolio Management$14m
- IES Holdings$12mAdded
- D. E. Shaw$11mCut
- Vanguard Capital Management$11mAdded
- AQR Capital Management$9mAdded
- Acadian Asset Management$6mAdded
- Geode Capital Management$6mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor7.4%Since 31 March 2025
- NEEDHAM INVESTMENT MANAGEMENT L.L.C.Passive investorat least 6.8%−1.2 pts(filed with 3 related holders)Since 31 December 2025
- Vanguard Portfolio ManagementPassive investor5.3%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.4% | 31 March 2025 | |
NEEDHAM INVESTMENT MANAGEMENT L.L.C. Passive investor | at least 6.8%−1.2 pts (filed with 3 related holders) | 31 December 2025 | |
Vanguard Portfolio Management Passive investor | 5.3% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $666,867.
- Brown David LawrenceVP, CAO, Corporate ControllerSold
- Date
- 4 September 2026
- Shares
- 10,553
- Price
- $2.54
- Value
- $26,765
- Germond PhilippeDirectorSold
- Date
- 4 June 2026
- Shares
- 20,000
- Price
- $4.15
- Value
- $83,000
- Richardson TroyDirectorSold
- Date
- 3 June 2026
- Shares
- 110,000
- Price
- $4.40
- Value
- $484,000
- Germond PhilippeDirectorSold
- Date
- 15 May 2026
- Shares
- 16,080
- Price
- $3.02
- Value
- $48,562
- Brown David LawrenceVP, CAO, Corporate ControllerSold
- Date
- 11 May 2026
- Shares
- 7,766
- Price
- $3.16
- Value
- $24,541
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 4 September 2026 | Brown David Lawrence VP, CAO, Corporate Controller | Sold | 10,553 | $2.54 | $26,765 |
| 4 June 2026 | Germond Philippe Director | Sold | 20,000 | $4.15 | $83,000 |
| 3 June 2026 | Richardson Troy Director | Sold | 110,000 | $4.40 | $484,000 |
| 15 May 2026 | Germond Philippe Director | Sold | 16,080 | $3.02 | $48,562 |
| 11 May 2026 | Brown David Lawrence VP, CAO, Corporate Controller | Sold | 7,766 | $3.16 | $24,541 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 0.8% a year.
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.