NCR Voyix
VYX on NYSE. NCR Voyix sells software and services for payments and ordering to stores and restaurants. Market value $944m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Recent profit includes a one-time gain, so we price the company excluding that gain.
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 $-40.36 of spare cash last year. A savings account pays about $4.
You pay 94.4 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: 40 of 100. Price score: 33 of 100. Our list needs 70 on quality and 60 on price.
$6.73 a share, 12% above its 1-year low
Over the past year the price has ranged from $6.02 to $12.61.
Dividend: 1.6% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $7.2bn | $3.2bn | $3.2bn | $2.8bn | $2.7bn |
| Operating margin | |||||
| Operating margin | 0.4% | -1.6% | -4.2% | -1.3% | 1.0% |
| Debt to equity | |||||
| Debt to equity | 4.54 | 3.94 | 104.32 | 1.20 | 1.19 |
| Shares outstanding | |||||
| Shares outstanding | 0.14bn | 0.14bn | 0.15bn | 0.14bn | 0.14bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)4 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt1.19× equity
- Revenue growth, five yearsShrinking, 15.4% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $523 million last quarter, down 21% on a year ago.
- Profit: $2 million, after breaking even a year ago.
- It keeps 1 cents of each $1 of sales as operating profit, up from 0 cents a year earlier.
- About the same number of shares as a year ago.
- Debt is $864 million more than cash, up from $823 million a year ago.
- Sales grew on a year ago in 1 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $708m |
| December 2024 | $682m |
| March 2025 | $612m |
| June 2025 | $660m |
| September 2025 | $684m |
| December 2025 | $720m |
| March 2026 | $606m |
| June 2026 | $523m |
| Quarter to | Amount |
|---|---|
| September 2024 | $1.1bn |
| December 2024 | -$14m |
| March 2025 | -$17m |
| June 2025 | $0 |
| September 2025 | -$19m |
| December 2025 | $98m |
| March 2026 | -$5m |
| June 2026 | $2m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
4 long-term investors we follow own it, down from 6 last quarter. 296 funds in all.
- First Pacific Advisors (FPA)Steven Romick
- Value
- $44m
- Share of fund
- 0.6%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| First Pacific Advisors (FPA)Steven Romick | $44m | 0.6% | |
| Boston PartnersBoston Partners team | $27m | <0.1% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $469,391 | <0.1% | Cut |
| GAMCO InvestorsMario Gabelli | $312,601 | <0.1% | Added |
Sold out this quarter
- Barrow HanleyBarrow Hanley teamSold out
- Royce & AssociatesChuck RoyceSold out
Largest holders overall
- BlackRock$184mAdded
- Greenhouse Funds LLLP$163m
- Shapiro Capital Management$89mAdded
- Vanguard Portfolio Management$88mAdded
- Neuberger Berman Group$51mAdded
- Vanguard Capital Management$51m
- Fuller & Thaler Asset Management$50mCut
- State Street$50mAdded
- Dimensional Fund Advisors LP$49mCut
- First Pacific Advisors (FPA)$44m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Greenhouse Funds LLLPPassive investorat least 18.5%+1.0 pts(filed with 5 related holders)Since 26 August 2026
- Vanguard Portfolio ManagementPassive investor7.7%Since 31 March 2026
- SHAPIRO CAPITAL MANAGEMENT LLCPassive investor6.1%−1.4 ptsSince 31 December 2025
- Vanguard Capital ManagementPassive investor5.2%Since 31 March 2026
- Fuller & Thaler Asset Management, Inc.Passive investorSold down below 5%Since 31 December 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Greenhouse Funds LLLP Passive investor | at least 18.5%+1.0 pts (filed with 5 related holders) | 26 August 2026 | |
Vanguard Portfolio Management Passive investor | 7.7% | 31 March 2026 | |
SHAPIRO CAPITAL MANAGEMENT LLC Passive investor | 6.1%−1.4 pts | 31 December 2025 | |
Vanguard Capital Management Passive investor | 5.2% | 31 March 2026 | |
Fuller & Thaler Asset Management, Inc. Passive investor | Sold down below 5% | 31 December 2025 | |
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. 1 sold $104,595.
- Tadele BeimnetEVP & President, RestaurantsSold
- Date
- 13 August 2026
- Shares
- 12,750
- Price
- $8.20
- Value
- $104,595
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 13 August 2026 | Tadele Beimnet EVP & President, Restaurants | Sold | 12,750 | $8.20 | $104,595 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 15.4% a year.
- It isn't cheap on profits: 94.4× operating profit.
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.