NCR Atleos Corporation (NATL) 10-Year Financial Performance & Capital Metrics

NATL • • Industrial / General

TechnologyApplication SoftwareFinancial Technology & PaymentsPayment Processing

AboutNCR ATMCo, LLC operates as a financial technology company in the United States, rest of Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Self-Service Banking, Payments and Network, and Telecommunications and Technology. It provides self-directed banking solutions through automated and interactive teller machine technology, including software, services, hardware, and Allpoint network. The company also offers managed network and infrastructure services to enterprise clients across various industries through direct relationships with communications service providers and technology manufacturers. It serves financial institutions, merchants, manufacturers, retailers, and consumers. The company is headquartered in Atlanta, Georgia.Show more

Revenue $4.32B +3.0%
EBITDA $450M -14.3%
Net Income $91M +167.9%
EPS (Diluted) 1.23 +164.7%
Gross Margin 23.93% +7.5%
EBITDA Margin 10.42% -16.8%
Operating Margin 10.4% +60.8%
Net Margin 2.11% +165.9%
ROE 33.03% +537.4%
ROIC 11.3% +92.4%
Debt/Equity 11.54 +6.0%
Interest Coverage 1.37 -54.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 11.5x
✗Thin 5Y average net margin of 1.7%
✗Expensive at 11.4x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y6.75%

TTM-0.84%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-21.2%

TTM210.92%

EPS CAGR

10Y-

5Y-

3Y-22.67%

TTM162.19%

ROCE

10Y Avg7.65%

5Y Avg7.65%

3Y Avg8.11%

Latest11.45%

Peer Comparison

Payment Processing

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BILLBill.com Holdings, Inc.	4.83B	48.25	209.78	13.36%	0.8%	0.31%	6.41%	0.45
BLBlackLine, Inc.	3.12B	52.43	36.16	10.74%	11.07%	20.75%	6.05%	1.90
NATLNCR Atleos Corporation	3.01B	40.72	33.11	3.01%	3.09%	39.88%	6.81%	11.54
OLBThe OLB Group, Inc.	6.41M	0.73	-0.12	-58%	-92.68%	-169.91%		0.12
LSPDLightspeed Commerce Inc.	1.6B	11.74	-2.71	18.43%	-58.98%	-45.18%		0.01
CCGWWCheche Group Inc. Warrant	9.09M	0.02		5.2%	-1.76%	-16.69%		0.10

Profit & Loss

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.55B	4.13B	4.19B	4.32B
Revenue Growth %	-	0.16%	0.01%	0.03%
Cost of Goods Sold+	2.66B	3.21B	3.26B	3.28B
COGS % of Revenue	0.75%	0.78%	0.78%	0.76%
Gross Profit+	892M	919M	933M	1.03B
Gross Margin %	0.25%	0.22%	0.22%	0.24%
Gross Profit Growth %	-	0.03%	0.02%	0.11%
Operating Expenses+	644M	650M	662M	584M
OpEx % of Revenue	0.18%	0.16%	0.16%	0.14%
Selling, General & Admin	537M	649M	585M	458M
SG&A % of Revenue	0.15%	0.16%	0.14%	0.11%
Research & Development	107M	64M	77M	66M
R&D % of Revenue	0.03%	0.02%	0.02%	0.02%
Other Operating Expenses	0	-63M	0	60M
Operating Income+	248M	269M	271M	449M
Operating Margin %	0.07%	0.07%	0.06%	0.1%
Operating Income Growth %	-	0.08%	0.01%	0.66%
EBITDA+	407M	528M	525M	450M
EBITDA Margin %	0.11%	0.13%	0.13%	0.1%
EBITDA Growth %	-	0.3%	-0.01%	-0.14%
D&A (Non-Cash Add-back)	159M	259M	254M	1M
EBIT	300M	188M	197M	448M
Net Interest Income+	-49M	-31M	-90M	-317M
Interest Income	0	0	0	10M
Interest Expense	49M	31M	90M	327M
Other Income/Expense	3M	-112M	-164M	-310M
Pretax Income+	251M	157M	107M	139M
Pretax Margin %	0.07%	0.04%	0.03%	0.03%
Income Tax+	64M	50M	239M	47M
Effective Tax Rate %	0.74%	0.69%	-1.25%	0.65%
Net Income+	186M	108M	-134M	91M
Net Margin %	0.05%	0.03%	-0.03%	0.02%
Net Income Growth %	-	-0.42%	-2.24%	1.68%
Net Income (Continuing)	187M	107M	-132M	92M
Discontinued Operations	0	0	0	0
Minority Interest	3M	-1M	3M	4M
EPS (Diluted)+	2.66	-4.15	-1.90	1.23
EPS Growth %	-	-2.56%	0.54%	1.65%
EPS (Basic)	2.66	-4.15	-1.90	1.26
Diluted Shares Outstanding	69.8M	68.4M	70.6M	74.2M
Basic Shares Outstanding	69.8M	68.4M	70.6M	72.2M
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.58B	1.65B	1.9B	1.77B
Cash & Short-Term Investments	238M	293M	339M	419M
Cash Only	238M	293M	339M	419M
Short-Term Investments	0	0	0	0
Accounts Receivable	437M	502M	714M	588M
Days Sales Outstanding	44.94	44.35	62.18	49.72
Inventory	467M	419M	333M	307M
Days Inventory Outstanding	64.15	47.61	37.31	34.12
Other Current Assets	435M	435M	271M	452M
Total Non-Current Assets+	4B	4.12B	3.85B	3.79B
Property, Plant & Equipment	528M	497M	614M	618M
Fixed Asset Turnover	6.72x	8.31x	6.83x	6.99x
Goodwill	1.91B	1.95B	1.95B	1.95B
Intangible Assets	815M	729M	635M	550M
Long-Term Investments	351M	0	9M	19M
Other Non-Current Assets	88M	631M	382M	364M
Total Assets+	5.58B	5.77B	5.74B	5.55B
Asset Turnover	0.64x	0.72x	0.73x	0.78x
Asset Growth %	-	0.03%	-0.01%	-0.03%
Total Current Liabilities+	1.63B	1.37B	1.75B	1.7B
Accounts Payable	389M	350M	500M	562M
Days Payables Outstanding	53.44	39.77	56.02	62.46
Short-Term Debt	208M	108M	76M	81M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K
Other Current Liabilities	541M	473M	695M	597M
Current Ratio	0.97x	1.20x	1.08x	1.04x
Quick Ratio	0.68x	0.90x	0.89x	0.86x
Cash Conversion Cycle	55.66	52.2	43.47	21.37
Total Non-Current Liabilities+	1.62B	1.14B	3.71B	3.59B
Long-Term Debt	1.18B	717M	2.94B	2.85B
Capital Lease Obligations	67M	59M	109M	110M
Deferred Tax Liabilities	182M	201M	34M	40M
Other Non-Current Liabilities	120M	164M	626M	581M
Total Liabilities	3.24B	2.51B	5.45B	5.29B
Total Debt+	1.46B	884M	3.12B	3.05B
Net Debt	1.22B	591M	2.78B	2.63B
Debt / Equity	0.62x	0.27x	10.88x	11.54x
Debt / EBITDA	3.58x	1.67x	5.95x	6.77x
Net Debt / EBITDA	3.00x	1.12x	5.30x	5.84x
Interest Coverage	5.06x	8.68x	3.01x	1.37x
Total Equity+	2.34B	3.26B	287M	264M
Equity Growth %	-	0.4%	-0.91%	-0.08%
Book Value per Share	33.47	47.69	4.07	3.56
Total Shareholders' Equity	2.33B	3.26B	284M	260M
Common Stock	0	0	1M	1M
Retained Earnings	0	0	181M	231M
Treasury Stock	0	0	0	0
Accumulated OCI	-98M	-63M	86M	-19M
Minority Interest	3M	-1M	3M	4M

Cash Flow

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	449M	274M	355M	344M
Operating CF Margin %	0.13%	0.07%	0.08%	0.08%
Operating CF Growth %	-	-0.39%	0.3%	-0.03%
Net Income	187M	107M	-132M	92M
Depreciation & Amortization	159M	259M	254M	287M
Stock-Based Compensation	82M	66M	68M	38M
Deferred Taxes	19M	-28M	74M	-19M
Other Non-Cash Items	0	0	3M	20M
Working Capital Changes	2M	-130M	88M	-74M
Change in Receivables	0	-78M	-52M	102M
Change in Inventory	-136M	-10M	53M	-77M
Change in Payables	0	0	0	0
Cash from Investing+	-2.49B	-417M	-316M	-135M
Capital Expenditures	-111M	-97M	-132M	0
CapEx % of Revenue	0.03%	0.02%	0.03%	0.03%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	-36M	-242M	-173M	-139M
Cash from Financing+	2.35B	183M	31M	-134M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	1.17B	721M	-3.12B	-27M
Net Change in Cash	-	-	-	-
Free Cash Flow+	338M	177M	223M	205M
FCF Margin %	0.1%	0.04%	0.05%	0.05%
FCF Growth %	-	-0.48%	0.26%	-0.08%
FCF per Share	4.84	2.59	3.16	2.76
FCF Conversion (FCF/Net Income)	2.41x	2.54x	-2.65x	3.78x
Interest Paid	17M	55M	36M	271M
Taxes Paid	42M	32M	69M	54M

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	7.96%	3.86%	-7.55%	33.03%
Return on Invested Capital (ROIC)	5.23%	5.45%	5.87%	11.3%
Gross Margin	25.13%	22.25%	22.26%	23.93%
Net Margin	5.24%	2.61%	-3.2%	2.11%
Debt / Equity	0.62x	0.27x	10.88x	11.54x
Interest Coverage	5.06x	8.68x	3.01x	1.37x
FCF Conversion	2.41x	2.54x	-2.65x	3.78x
Revenue Growth	-	16.4%	1.45%	3.01%

Revenue by Segment

	2023	2024
Recurring revenue	2.98B	3.14B
Recurring revenue Growth	-	5.16%
All Other Products And Services	-	1.18B
All Other Products And Services Growth	-	-
All other products and services	1.21B	-
All other products and services Growth	-	-

Revenue by Geography

	2023	2024
UNITED STATES	1.89B	1.93B
UNITED STATES Growth	-	2.01%
EMEA	1.25B	1.34B
EMEA Growth	-	7.35%
APJ	512M	525M
APJ Growth	-	2.54%
Americas (Excluding United States)	534M	517M
Americas (Excluding United States) Growth	-	-3.18%

Frequently Asked Questions

Valuation & Price

NCR Atleos Corporation (NATL) has a price-to-earnings (P/E) ratio of 33.1x. This suggests investors expect higher future growth.

Growth & Financials

NCR Atleos Corporation (NATL) reported $4.27B in revenue for fiscal year 2024. This represents a 20% increase from $3.55B in 2021.

NCR Atleos Corporation (NATL) grew revenue by 3.0% over the past year. Growth has been modest.

Yes, NCR Atleos Corporation (NATL) is profitable, generating $132.0M in net income for fiscal year 2024 (2.1% net margin).

Dividend & Returns

NCR Atleos Corporation (NATL) has a return on equity (ROE) of 33.0%. This is excellent, indicating efficient use of shareholder capital.

NCR Atleos Corporation (NATL) generated $55.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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