Revenue rose from $841.1M in 2025Q1 to roughly $1.1B in 2025Q4 before easing to $994.3M, yet operating margin compressed to 3.9% in 2026Q3 from 11.6% in 2025Q4, indicating weak operating leverage.
Diebold Nixdorf, Incorporated (DBD) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 3.92B | 3.81B | 3.75B | 3.76B | 3.46B | 3.91B | 3.9B | 4.41B | 4.58B | 4.61B | 3.32B | 2.42B | 3.05B | 2.86B | 2.99B | 2.84B | 2.82B | 2.72B | 3.17B | 2.96B | 2.91B | 2.59B | 2.38B | 2.11B | 1.94B | 1.76B | 1.74B | 1.26B | 1.19B | 1.23B | 1.03B |
| Revenue Growth % | 6.25% | 1.46% | -0.25% | 8.66% | -11.38% | 0.07% | -11.48% | -3.72% | -0.67% | 38.99% | 37.08% | -20.71% | 6.77% | -4.49% | 5.5% | 0.43% | 3.88% | -14.25% | 6.92% | 2.02% | 12.34% | 8.66% | 12.86% | 8.74% | 10.22% | 0.96% | 38.47% | 6.2% | -3.36% | 19.09% | 19.32% |
| Cost of Goods Sold | 2.91B | 2.8B | 2.83B | 2.88B | 2.7B | 2.86B | 2.87B | 3.33B | 3.69B | 3.58B | 2.57B | 1.76B | 2.27B | 2.22B | 2.26B | 2.1B | 2.1B | 2.07B | 2.38B | 2.28B | 2.2B | 1.96B | 1.7B | 1.48B | 1.35B | 1.24B | 1.15B | 767.7M | 744M | 768.4M | 639.3M |
| COGS % of Revenue | - | 73.63% | 75.47% | 76.7% | 78.12% | 73.28% | 73.48% | 75.58% | 80.54% | 77.68% | 77.47% | 72.86% | 74.46% | 77.59% | 75.39% | 74.05% | 74.52% | 76.09% | 74.93% | 76.93% | 75.55% | 75.82% | 71.51% | 70.27% | 69.35% | 70.23% | 65.87% | 60.97% | 62.75% | 62.63% | 62.06% |
| Gross Profit | 1.01B | 1B | 920M | 876.2M | 757.3M | 1.04B | 1.03B | 1.08B | 890.9M | 1.03B | 747.2M | 656.5M | 779.35M | 640.36M | 736.15M | 735.93M | 719.57M | 650M | 794.62M | 683.85M | 710.52M | 625.48M | 678.38M | 627.14M | 594.64M | 524.07M | 595.06M | 491.5M | 441.7M | 458.5M | 390.9M |
| Gross Margin % | 25.8% | 26.37% | 24.53% | 23.3% | 21.88% | 26.72% | 26.52% | 24.42% | 19.46% | 22.32% | 22.53% | 27.14% | 25.54% | 22.41% | 24.61% | 25.95% | 25.48% | 23.91% | 25.07% | 23.07% | 24.45% | 24.18% | 28.49% | 29.73% | 30.65% | 29.77% | 34.13% | 39.03% | 37.25% | 37.37% | 37.94% |
| Gross Profit Growth % | - | 9.07% | 5% | 15.7% | -27.42% | 0.81% | -3.85% | 20.82% | -13.42% | 37.71% | 13.82% | -15.76% | 21.71% | -13.01% | 0.03% | 2.27% | 10.7% | -18.2% | 16.2% | -3.75% | 13.6% | -7.8% | 8.17% | 5.47% | 13.47% | -11.93% | 21.07% | 11.27% | -3.66% | 17.29% | 20.69% |
| Operating Expenses | 730.1M | 668.8M | 737.9M | 789.3M | 969M | 906.3M | 1.01B | 841.4M | 1.04B | 893.6M | 686.7M | 522.1M | 609.17M | 689.01M | 595.66M | 577.37M | 545.52M | 496.91M | 618.34M | 584.49M | 534.86M | 464.21M | 401.41M | 364.29M | 353.47M | 385.16M | 366.1M | 306.6M | 274.3M | 274.7M | 250.6M |
| OpEx % of Revenue | - | 17.57% | 19.67% | 20.99% | 28% | 23.21% | 25.91% | 19.09% | 22.78% | 19.39% | 20.71% | 21.58% | 19.97% | 24.11% | 19.91% | 20.36% | 19.32% | 18.28% | 19.51% | 19.71% | 18.4% | 17.94% | 16.86% | 17.27% | 18.22% | 21.88% | 21% | 24.35% | 23.13% | 22.39% | 24.33% |
| Selling, General & Admin | 642.8M | 585M | 643.6M | 0 | 741.6M | 775.6M | 858.6M | 697.3M | 885.6M | 737M | 581.6M | 435.8M | 515.55M | 596.69M | 509.78M | 499.26M | 471.29M | 424.88M | 534.49M | 470.62M | 463.86M | 403.8M | 341.39M | 303.84M | 289.58M | 325.54M | 274.51M | 221.4M | 194.5M | 191.8M | 217.6M |
| SG&A % of Revenue | - | 15.37% | 17.16% | - | 21.43% | 19.86% | 22% | 15.82% | 19.34% | 15.99% | 17.54% | 18.01% | 16.9% | 20.88% | 17.04% | 17.61% | 16.69% | 15.63% | 16.86% | 15.87% | 15.96% | 15.61% | 14.34% | 14.4% | 14.93% | 18.49% | 15.74% | 17.58% | 16.4% | 15.63% | 21.12% |
| Research & Development | 83.4M | 83.8M | 93.6M | 110.9M | 120.7M | 126.3M | 133.4M | 144.1M | 157.4M | 156.6M | 105.1M | 86.3M | 93.62M | 92.31M | 85.88M | 78.11M | 74.22M | 72.03M | 79.07M | 73.95M | 71M | 60.41M | 60.02M | 60.45M | 63.89M | 59.61M | 55.69M | 50.5M | 54.2M | 54.4M | 0 |
| R&D % of Revenue | - | 2.2% | 2.5% | 2.95% | 3.49% | 3.23% | 3.42% | 3.27% | 3.44% | 3.4% | 3.17% | 3.57% | 3.07% | 3.23% | 2.87% | 2.75% | 2.63% | 2.65% | 2.49% | 2.49% | 2.44% | 2.34% | 2.52% | 2.87% | 3.29% | 3.39% | 3.19% | 4.01% | 4.57% | 4.43% | - |
| Other Operating Expenses | -600K | 0 | 700K | 678.4M | 106.7M | 4.4M | 19M | 0 | -4M | 8.8M | 3.5M | 3.7M | -1.65M | -1.55M | 0 | 0 | -1.66M | 7K | 403K | 39.93M | 0 | 0 | 0 | 0 | 0 | 0 | 35.9M | 34.7M | 25.6M | 28.5M | 33M |
| Operating Income | 281.6M | 334.6M | 182.1M | 86.9M | -211.7M | 137.1M | 24M | 235M | -362.9M | 135.4M | 60.5M | 134.4M | 180.95M | -118.26M | 124.71M | 155.59M | -1.8M | 150.59M | 176.28M | 99.36M | 175.66M | 161.27M | 276.97M | 262.85M | 241.17M | 138.91M | 228.96M | 184.9M | 167.4M | 183.8M | 140.3M |
| Operating Margin % | 7.18% | 8.79% | 4.85% | 2.31% | -6.12% | 3.51% | 0.61% | 5.33% | -7.93% | 2.94% | 1.82% | 5.56% | 5.93% | -4.14% | 4.17% | 5.49% | -0.06% | 5.54% | 5.56% | 3.35% | 6.04% | 6.23% | 11.63% | 12.46% | 12.43% | 7.89% | 13.13% | 14.68% | 14.12% | 14.98% | 13.62% |
| Operating Income Growth % | - | 83.75% | 109.55% | 141.05% | -254.41% | 471.25% | -89.79% | 164.76% | -368.02% | 123.8% | -54.99% | -25.72% | 253.01% | -194.83% | -19.85% | 8734.52% | -101.2% | -14.57% | 77.42% | -43.44% | 8.92% | -41.77% | 5.37% | 8.99% | 73.62% | -39.33% | 23.83% | 10.45% | -8.92% | 31% | 31.37% |
| EBITDA | 407.2M | 462.1M | 314.4M | 223.2M | -85.7M | 286.2M | 204.4M | 461.1M | -115.1M | 387.6M | 195.3M | 198.4M | 255.02M | -35.67M | 203.36M | 235.45M | 77.45M | 228.28M | 256.75M | 162.74M | 245.47M | 237.51M | 351.96M | 327.15M | 302.46M | 184.36M | 264.86M | 219.6M | 193M | 212.3M | 173.3M |
| EBITDA Margin % | 10.38% | 12.14% | 8.38% | 5.94% | -2.48% | 7.33% | 5.24% | 10.46% | -2.51% | 8.41% | 5.89% | 8.2% | 8.36% | -1.25% | 6.8% | 8.3% | 2.74% | 8.4% | 8.1% | 5.49% | 8.45% | 9.18% | 14.78% | 15.51% | 15.59% | 10.47% | 15.19% | 17.44% | 16.28% | 17.3% | 16.82% |
| EBITDA Growth % | 9.91% | 46.98% | 40.86% | 360.44% | -129.94% | 40.02% | -55.67% | 500.61% | -129.7% | 98.46% | -1.56% | -22.2% | 815.02% | -117.54% | -13.63% | 204% | -66.07% | -11.09% | 57.77% | -33.7% | 3.35% | -32.52% | 7.58% | 8.16% | 64.06% | -30.39% | 20.61% | 13.78% | -9.09% | 22.5% | 27.15% |
| D&A (Non-Cash Add-back) | 125.6M | 127.5M | 132.3M | 136.3M | 126M | 149.1M | 180.4M | 226.1M | 247.8M | 252.2M | 134.8M | 64M | 74.07M | 82.59M | 78.64M | 79.86M | 79.25M | 77.69M | 80.47M | 63.38M | 69.81M | 76.24M | 74.98M | 64.3M | 61.3M | 45.45M | 35.9M | 34.7M | 25.6M | 28.5M | 33M |
| EBIT | 216.9M | 207.3M | 202.6M | 148.6M | -239.4M | 144.6M | -2.7M | -32.8M | -323.4M | -78.5M | -141.8M | 134.4M | 196.81M | -112.6M | 141.22M | 193.39M | 35.49M | 159.26M | 201.68M | 99.36M | 182.23M | 182.75M | 273.48M | 251.79M | 241.17M | 138.91M | 228.96M | 184.9M | 167.4M | 183.9M | 140.3M |
| Net Interest Income | -81.3M | -76.8M | -143M | -233.2M | -189.2M | -189.2M | -266.6M | -193.6M | -146.2M | -97M | -79.9M | -6.5M | 3.1M | -29.2M | -30.33M | -34.46M | -37.89M | -35.45M | -45.37M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 13.4M | 8.9M | 12.3M | 13M | 10M | 6.1M | 6.8M | 9.3M | 8.7M | 20.3M | 21.5M | 26M | 34.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 94.7M | 85.7M | 155.3M | 246.2M | 199.2M | 195.3M | 273.4M | 202.9M | 154.9M | 117.3M | 101.4M | 32.5M | 31.4M | 29.23M | 30.33M | 34.46M | 37.89M | 35.45M | 45.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -156.4M | -213M | -132.3M | 1.37B | -224.7M | -187.5M | -292.8M | -462.9M | -152.7M | -98.4M | -68.5M | -12.8M | -10.36M | 20.49M | -7.29M | 8.8M | -595K | -26.79M | -19.96M | -24.02M | -18.19M | -352K | -313K | 5.23M | -22.62M | -39.07M | -24.6M | 16.5M | -47.6M | 1.8M | 6.2M |
| Pretax Income | 125.2M | 121.6M | 49.8M | 1.45B | -436.4M | -50.4M | -268.8M | -227.9M | -515.6M | -191.9M | -238.3M | 45.8M | 170.59M | -119.81M | 117.43M | 164.39M | -2.4M | 123.81M | 138.96M | 75.34M | 124.45M | 138.25M | 268.94M | 257.02M | 218.55M | 99.84M | 204.36M | 201.4M | 119.8M | 185.6M | 146.5M |
| Pretax Margin % | 3.19% | 3.2% | 1.33% | 38.62% | -12.61% | -1.29% | -6.89% | -5.17% | -11.26% | -4.16% | -7.19% | 1.89% | 5.59% | -4.19% | 3.93% | 5.8% | -0.08% | 4.55% | 4.38% | 2.54% | 4.28% | 5.34% | 11.3% | 12.18% | 11.26% | 5.67% | 11.72% | 15.99% | 10.1% | 15.13% | 14.22% |
| Income Tax | 42.4M | 24.1M | 64.3M | 75.7M | 149.2M | 27.7M | -1M | 116.7M | 37.2M | 28.3M | -67.6M | -13.7M | 53.57M | 56.72M | 29.91M | 12.81M | 14.56M | 44.48M | 32.55M | 35.8M | 37.9M | 55.35M | 84.99M | 82.25M | 86.25M | 32.95M | 67.44M | 72.5M | 43.7M | 63.1M | 49.1M |
| Effective Tax Rate % | 33.87% | 19.82% | 129.12% | 5.21% | -34.19% | -54.96% | 0.37% | -51.21% | -7.21% | -14.75% | 28.37% | -29.91% | 31.4% | -47.34% | 25.47% | 7.8% | -607.47% | 35.92% | 23.42% | 47.52% | 30.46% | 40.03% | 31.6% | 32% | 39.46% | 33% | 33% | 36% | 36.48% | 34% | 33.52% |
| Net Income | 76.7M | 94.6M | -16.5M | 1.38B | -581.4M | -78.8M | -269.1M | -341.3M | -568.7M | -241.5M | -178M | 76.8M | 114.42M | -181.6M | 78.45M | 144.81M | -20.25M | 41.61M | 93.46M | 39.54M | 86.55M | 96.75M | 183.96M | 174.78M | 99.15M | 66.89M | 136.92M | 128.9M | 76.1M | 122.5M | 97.4M |
| Net Margin % | 1.96% | 2.49% | -0.44% | 36.59% | -16.8% | -2.02% | -6.9% | -7.74% | -12.42% | -5.24% | -5.37% | 3.17% | 3.75% | -6.36% | 2.62% | 5.11% | -0.72% | 1.53% | 2.95% | 1.33% | 2.98% | 3.74% | 7.73% | 8.28% | 5.11% | 3.8% | 7.85% | 10.24% | 6.42% | 9.98% | 9.45% |
| Net Income Growth % | 51.58% | 673.33% | -101.2% | 336.69% | -637.82% | 70.72% | 21.15% | 39.99% | -135.49% | -35.67% | -331.77% | -32.88% | 163% | -331.48% | -45.82% | 815.07% | -148.67% | -55.48% | 136.36% | -54.31% | -10.54% | -47.41% | 5.25% | 76.27% | 48.23% | -51.14% | 6.22% | 69.38% | -37.88% | 25.77% | 27.82% |
| Net Income (Continuing) | 82.8M | 97.5M | -14.5M | 1.38B | -585.6M | -78.1M | -267.8M | -344.6M | -528.7M | -213.9M | -179.3M | 59.5M | 107.3M | -190.2M | 87.52M | 151.58M | -16.96M | 79.33M | 114.82M | 47.91M | 93.14M | 89.73M | 181.81M | 171.27M | 132.3M | 66.89M | 136.92M | 128.9M | 76.1M | 122.5M | 97.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.9M | 0 | 0 | 0 | 523K | 0 | 0 | 0 | 0 | 11.41M | 2.23M | 1.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 7.9M | 4.9M | 8.4M | 15.4M | 9.8M | 8.1M | 14.6M | 44.9M | 157.2M | 528.9M | 477.5M | 23.1M | 23.29M | 24.05M | 35.35M | 31.27M | 28.66M | 25.65M | 17.66M | 13.76M | 27.35M | 21.55M | 25.53M | 20.35M | 14.32M | 9.38M | 5.26M | 4.4M | 3.7M | 16.9M | 13.1M |
| EPS (Diluted) | 2.22 | 2.54 | -0.44 | 21.38 | -7.44 | -1.00 | -3.47 | -4.51 | -7.48 | -3.20 | -2.58 | 1.12 | 1.76 | -2.85 | 1.23 | 2.24 | -0.31 | 0.62 | 1.41 | 0.59 | 1.55 | 1.43 | 2.53 | 2.37 | 1.37 | 0.93 | 1.92 | 1.85 | 1.10 | 1.76 | 1.42 |
| EPS Growth % | 56.2% | 677.27% | -102.06% | 387.37% | -644% | 71.18% | 23.06% | 39.71% | -133.75% | -24.03% | -330.36% | -36.36% | 161.75% | -331.71% | -45.09% | 822.58% | -150% | -56.03% | 138.98% | -61.94% | 8.39% | -43.48% | 6.75% | 72.99% | 47.31% | -51.56% | 3.78% | 68.18% | -37.5% | 23.94% | -14.97% |
| EPS (Basic) | - | 2.57 | -0.44 | 21.38 | -7.44 | -1.00 | -3.47 | -4.51 | -7.48 | -3.20 | -2.58 | 1.14 | 1.77 | -2.85 | 1.24 | 2.25 | -0.31 | 0.63 | 1.41 | 0.60 | 1.57 | 1.45 | 2.55 | 2.39 | 1.38 | 0.94 | 1.92 | 1.86 | 1.10 | 1.78 | 1.42 |
| Diluted Shares Outstanding | 34.6M | 37.2M | 37.6M | 64.36M | 79M | 78.3M | 77.6M | 76.7M | 76M | 75.5M | 69.1M | 65.6M | 65.15M | 63.66M | 63.91M | 64.79M | 65.91M | 66.87M | 66.49M | 66.67M | 67.25M | 71.34M | 72.53M | 72.92M | 72.3M | 71.78M | 71.48M | 69.56M | 69.31M | 69.6M | 68.8M |
| Basic Shares Outstanding | 33.7M | 36.8M | 37.6M | 64.36M | 79M | 78.3M | 77.6M | 76.7M | 76M | 75.5M | 69.1M | 64.9M | 64.53M | 63.66M | 63.06M | 64.24M | 65.91M | 66.26M | 66.08M | 65.84M | 66.67M | 70.58M | 72M | 72.42M | 71.98M | 71.52M | 71.3M | 69.36M | 68.96M | 68.82M | 68.8M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | 98.44% | 65.5% | - | 92.83% | 50.34% | - | 166.91% | 71.22% | 157.92% | 66.33% | 59.71% | 28.94% | 28.17% | 47.93% | 68.43% | 32.33% | 32.35% | 50.72% | 28.16% | 32.03% |
Quick answers to the most common questions about buying DBD stock.
For fiscal year 2025, Diebold Nixdorf, Incorporated (DBD) reported total revenue of $3.81B. This represents a 269.4% increase compared to $1.03B in 1996.
Diebold Nixdorf, Incorporated (DBD) is profitable, generating $94.6M in net income for the fiscal year ending 2025 with a net profit margin of 2.5%.
Diebold Nixdorf, Incorporated (DBD) reported an operating income of $334.6M, resulting in an operating profit margin of 8.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Diebold Nixdorf, Incorporated (DBD) generated $1.00B in gross profit for the year, representing a gross profit margin of 26.4%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Thin net margins and volatile earnings
Metrics are mathematically derived from official filings.
Revenue Growth Modest Despite Volatility
Based on reported quarterly figures, DBD's revenue rose from $841.1M in 2025Q1 to roughly $1.1B in 2025Q4 before easing to $994.3M in 2026Q3, suggesting top-line momentum that is real but uneven across periods.
Year-over-year growth has oscillated between negative and low-double-digit readings, which indicates the revenue base is not yet compounding on a steady basis. The reported figures do not isolate volume, pricing, or acquisition contributions, so the durability of the 2025Q4 spike cannot be assessed with confidence. Investors should monitor whether sequential revenue holds near the $930M to $995M range in coming quarters.
Gross Margin Holds Within Narrow Band
As reported in financial statements, DBD's gross margin has stayed between 23.9% and 27.1% across ten quarters, with the peak at 27.1% in 2025Q4 coinciding with the revenue high.
A tight gross margin range suggests limited evidence of pricing power or meaningful mix shift, since the business absorbs cost movements without sustained expansion. The 2025Q4 peak appears tied to a seasonal or volume-driven revenue quarter rather than a structural step-up. Margin stability is a positive for predictability but leaves little cushion if input or labor costs rise.
Operating Margin Fragile Beneath Gross Profit
Based on EDBL-style reporting conventions applied here, DBD's operating margin ranged from 3.9% to 11.6%, and the 2026Q3 compression to 3.9% against a 24.9% gross margin points to weak operating leverage.
Operating income swings far more than gross profit, implying that SG&A, which runs near $150M to $170M per quarter, absorbs most incremental gross profit. The reported SG&A line also shows a zero entry in 2025Q3 and 2024Q4, which is treated here as data unavailable rather than evidence of cost reclassification. Operating leverage therefore appears limited, and margin recovery depends on overhead discipline rather than revenue alone.
Net Income Swings Outpace Operating Trend
According to recent SEC filings as summarized here, DBD's net income moved between a loss of $22.4M and a gain of $49.6M, with EPS swinging from -0.60 to 1.37, a dispersion far wider than operating income.
The gap between operating income and net income suggests material non-operating items, tax effects, or discrete charges influencing reported earnings, though the provided data does not itemize them. Stock-based compensation is modest at roughly $2M to $4M per quarter, so it does not explain the volatility. Earnings quality should be treated as uncertain until the drivers of the net-to-operating divergence are identified.
Thin Margins Leave Little Room for Error
Bearish analysis based on reported figures highlights that DBD's net margin has frequently sat below 2%, including 0.6% in 2026Q1 and 0.7% in 2026Q3, leaving earnings highly exposed to small cost or revenue shocks.
A net margin near 1% means modest deterioration in gross profit or overhead could push the company into sustained losses, as already occurred in 2024Q3 and 2025Q1. Peer context shows NCR Atleos with an operating margin near 11%, which, if comparable, would indicate DBD trails on operating efficiency. Investors should monitor whether the 2026 margin compression reflects a durable shift or a temporary cost event.