The company maintains a tight liquidity profile with a current ratio of 1.06 and a $1.3 billion debt load that limits strategic flexibility.
| 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 |
|---|
| Total Current Assets | 1.17B | 1.1B | 1.67B | 1.21B | 3.08B | 2.88B | 2.48B | 3.14B | 3.02B | 2.83B | 2.76B | 2.55B | 3.09B | 4.34B | 3.41B | 2.52B | 2.48B | 2.3B | 2.56B | 3.09B | 3.33B | 2.93B | 2.63B | 2.42B | 2.19B | 1.96B | 2.23B | 2.54B | 2.63B | 3.29B | 3.32B |
| Cash & Short-Term Investments | 243M | 239M | 724M | 259M | 221M | 447M | 338M | 509M | 464M | 537M | 498M | 328M | 511M | 528M | 1.07B | 398M | 496M | 451M | 711M | 952M | 947M | 810M | 750M | 689M | 526M | 336M | 357M | 763M | 514M | 886M | 1.2B |
| Cash Only | 243M | 239M | 724M | 259M | 221M | 447M | 338M | 509M | 464M | 537M | 498M | 328M | 511M | 528M | 1.07B | 398M | 496M | 451M | 711M | 952M | 947M | 810M | 750M | 689M | 526M | 336M | 347M | 763M | 514M | 886M | 1.16B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10M | 0 | 0 | 0 | 40M |
| Accounts Receivable | 457M | 470M | 539M | 414M | 550M | 959M | 1.12B | 1.5B | 1.35B | 1.23B | 1.28B | 1.25B | 1.4B | 1.34B | 1.09B | 1.03B | 928M | 896M | 913M | 1.17B | 1.02B | 1.3B | 1.3B | 1.23B | 1.2B | 1.13B | 1.34B | 1.2B | 1.56B | 1.47B | 1.46B |
| Days Sales Outstanding | 67.59 | 63.84 | 69.62 | 47.55 | 63.25 | 94.81 | 65.68 | 79.12 | 77.22 | 69.07 | 71.52 | 71.65 | 77.75 | 79.82 | 69.18 | 71.19 | 71.9 | 70.91 | 62.7 | 85.71 | 80.93 | 104.43 | 79.54 | 80.2 | 78.69 | 69.46 | 81.95 | 70.51 | 87.31 | 81.49 | 76.38 |
| Inventory | 159M | 217M | 208M | 250M | 357M | 754M | 601M | 784M | 806M | 780M | 699M | 643M | 669M | 790M | 797M | 774M | 741M | 686M | 692M | 717M | 641M | 595M | 355M | 308M | 263M | 280M | 288M | 299M | 384M | 489M | 439M |
| Days Inventory Outstanding | 36.1 | 38.58 | 33.79 | 36.37 | 52.33 | 99.46 | 46.84 | 57.3 | 62.2 | 61.08 | 54 | 47.86 | 50.25 | 65.79 | 71.21 | 65.09 | 72.69 | 67.15 | 61.13 | 66.59 | 64.01 | 59.91 | 29.66 | 27.66 | 24.01 | 24.79 | 25.69 | 27.64 | 33.22 | 40.49 | 32.07 |
| Other Current Assets | 315M | 177M | 200M | 283M | 1.95B | 716M | 422M | 361M | 398M | 280M | 278M | 327M | 504M | 1.68B | 454M | 311M | 313M | 266M | 241M | 252M | 728M | 217M | 224M | 195M | 193M | 221M | 251M | 282M | 178M | 439M | 219M |
| Total Non-Current Assets | 2.75B | 2.82B | 2.78B | 3.78B | 8.43B | 8.77B | 5.94B | 5.84B | 4.74B | 4.82B | 4.92B | 5.09B | 5.48B | 3.77B | 2.96B | 3.08B | 1.88B | 1.79B | 1.7B | 1.69B | 1.9B | 2.36B | 2.92B | 3.06B | 2.49B | 2.89B | 2.87B | 2.35B | 2.26B | 2.09B | 1.96B |
| Property, Plant & Equipment | 375M | 382M | 421M | 438M | 499M | 1.12B | 717M | 804M | 359M | 341M | 287M | 322M | 396M | 352M | 308M | 365M | 429M | 356M | 308M | 313M | 314M | 378M | 670M | 514M | 558M | 629M | 960M | 793M | 872M | 1.11B | 1.21B |
| Fixed Asset Turnover | 6.97x | 7.03x | 6.71x | 7.26x | 6.36x | 3.29x | 8.66x | 8.60x | 17.84x | 19.11x | 22.80x | 19.79x | 16.64x | 17.39x | 18.60x | 14.50x | 10.98x | 12.96x | 17.26x | 15.88x | 14.59x | 12.07x | 8.93x | 10.89x | 10.01x | 9.41x | 6.21x | 7.81x | 7.46x | 5.96x | 5.77x |
| Goodwill | 1.52B | 1.52B | 1.52B | 1.52B | 2.06B | 4.52B | 2.84B | 2.83B | 2.69B | 2.74B | 2.73B | 2.73B | 2.76B | 1.53B | 1B | 913M | 115M | 100M | 84M | 64M | 60M | 129M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 76M | 83M | 94M | 123M | 416M | 1.32B | 532M | 607M | 595M | 578M | 672M | 798M | 926M | 494M | 304M | 312M | 0 | 0 | 0 | 0 | 0 | 0 | 124M | 105M | 102M | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 232M | 58M | 0 | 0 | 0 | 0 | 0 | 0 | 12M | 6M | 94M | 130M | 551M | 478M | 368M | 339M | 286M | 244M | 251M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 527M | 590M | 561M | 1.47B | 5.12B | 1.08B | 885M | 779M | 632M | 698M | 561M | 521M | 496M | 470M | 448M | 433M | 423M | 478M | 410M | 1.1B | 1.31B | 1.33B | 1.75B | 1.88B | 1.83B | 2.26B | 1.91B | 1.56B | 1.39B | 985M | 755M |
| Total Assets | 3.92B | 3.92B | 4.45B | 4.99B | 11.51B | 11.64B | 8.41B | 8.99B | 7.76B | 7.65B | 7.67B | 7.63B | 8.57B | 8.11B | 6.37B | 5.59B | 4.36B | 4.09B | 4.25B | 4.78B | 5.23B | 5.29B | 5.55B | 5.48B | 4.67B | 4.86B | 5.11B | 4.89B | 4.89B | 5.38B | 5.28B |
| Asset Turnover | 0.68x | 0.69x | 0.63x | 0.64x | 0.28x | 0.32x | 0.74x | 0.77x | 0.83x | 0.85x | 0.85x | 0.83x | 0.77x | 0.76x | 0.90x | 0.95x | 1.08x | 1.13x | 1.25x | 1.04x | 0.88x | 0.86x | 1.08x | 1.02x | 1.20x | 1.22x | 1.17x | 1.27x | 1.33x | 1.23x | 1.32x |
| Asset Growth % | -52.51% | -11.93% | -10.78% | -56.64% | -1.15% | 38.35% | -6.38% | 15.8% | 1.4% | -0.25% | 0.5% | -10.87% | 5.65% | 27.3% | 13.92% | 28.2% | 6.52% | -3.78% | -10.98% | -8.55% | -1.13% | -4.81% | 1.35% | 17.29% | -3.77% | -4.92% | 4.31% | 0.06% | -9% | 1.82% | 0.46% |
| Total Current Liabilities | 1.11B | 1.06B | 1.42B | 1.33B | 2.71B | 2.81B | 2.09B | 2.54B | 2.28B | 1.89B | 1.97B | 1.78B | 2.07B | 1.88B | 1.74B | 1.56B | 1.42B | 1.38B | 1.69B | 1.53B | 1.77B | 1.65B | 1.72B | 1.58B | 1.42B | 1.52B | 1.84B | 1.66B | 1.7B | 1.98B | 1.97B |
| Accounts Payable | 371M | 346M | 332M | 440M | 594M | 826M | 632M | 840M | 897M | 762M | 781M | 657M | 712M | 670M | 611M | 525M | 499M | 557M | 492M | 516M | 467M | 490M | 492M | 414M | 364M | 362M | 521M | 378M | 376M | 378M | 352M |
| Days Payables Outstanding | 63.9 | 61.51 | 53.93 | 64.01 | 87.07 | 108.96 | 49.26 | 61.39 | 69.22 | 59.67 | 60.33 | 48.9 | 53.48 | 55.8 | 54.59 | 44.15 | 48.95 | 54.52 | 43.46 | 47.92 | 46.64 | 49.34 | 41.11 | 37.18 | 33.23 | 32.05 | 46.47 | 34.95 | 32.53 | 31.3 | 25.71 |
| Short-Term Debt | 0 | 52M | 0 | 15M | 101M | 57M | 8M | 282M | 185M | 52M | 50M | 13M | 187M | 34M | 72M | 1M | 1M | 4M | 301M | 1M | 1M | 2M | 2M | 3M | 5M | 138M | 96M | 37M | 50M | 59M | 28M |
| Deferred Revenue (Current) | 837M | 202M | 211M | 157M | 191M | 516M | 507M | 502M | 461M | 458M | 468M | 476M | 494M | 525M | 455M | 418M | 537M | 454M | 317M | 359M | 318M | 444M | 407M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 421M | 367M | 773M | 595M | 1.74B | 1.02B | 673M | 606M | 501M | 856M | 900M | 922M | 975M | 986M | 418M | 394M | 741M | 696M | 373M | 654M | 984M | 417M | 823M | 1.16B | 1.05B | 1.02B | 1.22B | 1.25B | 1.27B | 1.54B | 1.59B |
| Current Ratio | 1.06x | 1.04x | 1.18x | 0.90x | 1.14x | 1.02x | 1.19x | 1.24x | 1.32x | 1.50x | 1.40x | 1.43x | 1.49x | 2.31x | 1.96x | 1.61x | 1.75x | 1.66x | 1.51x | 2.02x | 1.88x | 1.78x | 1.53x | 1.53x | 1.54x | 1.29x | 1.22x | 1.53x | 1.55x | 1.66x | 1.69x |
| Quick Ratio | 0.91x | 0.83x | 1.03x | 0.72x | 1.00x | 0.76x | 0.90x | 0.93x | 0.97x | 1.09x | 1.05x | 1.07x | 1.17x | 1.89x | 1.50x | 1.12x | 1.23x | 1.17x | 1.10x | 1.55x | 1.52x | 1.42x | 1.32x | 1.34x | 1.36x | 1.11x | 1.06x | 1.35x | 1.32x | 1.41x | 1.46x |
| Cash Conversion Cycle | 39.79 | 40.91 | 49.47 | 19.91 | 28.51 | 85.31 | 63.27 | 75.03 | 70.19 | 70.48 | 65.18 | 70.61 | 74.52 | 89.81 | 85.8 | 92.13 | 95.64 | 83.54 | 80.37 | 104.37 | 98.31 | 115.01 | 68.09 | 70.68 | 69.46 | 62.2 | 61.17 | 63.21 | 88 | 90.68 | 82.73 |
| Total Non-Current Liabilities | 1.68B | 1.7B | 1.82B | 3.36B | 7.04B | 7.3B | 5B | 4.95B | 4.22B | 4.23B | 4.16B | 4.33B | 4.61B | 4.44B | 3.35B | 3.21B | 2.03B | 2.12B | 2.1B | 1.47B | 1.56B | 1.59B | 1.73B | 2B | 1.91B | 1.29B | 1.49B | 1.59B | 1.7B | 1.78B | 1.63B |
| Long-Term Debt | 1.1B | 1.32B | 1.1B | 2.56B | 5.55B | 5.5B | 3.27B | 3.28B | 2.98B | 2.94B | 3B | 3.24B | 3.43B | 3.32B | 1.89B | 852M | 10M | 11M | 7M | 307M | 306M | 305M | 307M | 307M | 306M | 10M | 11M | 40M | 33M | 35M | 48M |
| Capital Lease Obligations | 920M | 231M | 248M | 251M | 286M | 388M | 325M | 369M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9M | 45M | 27M | 140M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 348M | 137M | 479M | 542M | 1.2B | 1.41B | 1.41B | 1.3B | 1.24B | 1.29B | 1.16B | 1.09B | 1.18B | 1.12B | 1.45B | 2.36B | 2.02B | 2.11B | 152M | 1.12B | 1.22B | 1.14B | 1.42B | 1.7B | 1.6B | 1.28B | 1.47B | 1.55B | 1.67B | 1.75B | 1.58B |
| Total Liabilities | 2.79B | 2.77B | 3.25B | 4.69B | 9.75B | 10.11B | 7.09B | 7.49B | 6.5B | 6.12B | 6.13B | 6.11B | 6.68B | 6.33B | 5.09B | 4.77B | 3.44B | 3.5B | 3.79B | 3B | 3.33B | 3.23B | 3.45B | 3.58B | 3.33B | 2.81B | 3.32B | 3.25B | 3.4B | 3.76B | 3.6B |
| Total Debt | 1.32B | 1.6B | 1.35B | 2.83B | 5.94B | 5.95B | 3.6B | 3.93B | 3.17B | 2.99B | 3.05B | 3.25B | 3.62B | 3.35B | 1.96B | 853M | 11M | 15M | 308M | 308M | 307M | 307M | 309M | 310M | 311M | 148M | 107M | 77M | 83M | 94M | 76M |
| Net Debt | 1.08B | 1.36B | 622M | 2.57B | 5.72B | 5.5B | 3.27B | 3.42B | 2.7B | 2.45B | 2.55B | 2.92B | 3.11B | 2.83B | 894M | 455M | -485M | -436M | -403M | -644M | -640M | -503M | -441M | -379M | -215M | -188M | -240M | -686M | -431M | -792M | -1.09B |
| Debt / Equity | 1.16x | 1.39x | 1.12x | 9.40x | 3.39x | 3.88x | 2.72x | 2.62x | 2.52x | 1.95x | 1.97x | 2.13x | 1.92x | 1.88x | 1.53x | 1.04x | 0.01x | 0.03x | 0.66x | 0.17x | 0.16x | 0.15x | 0.15x | 0.16x | 0.23x | 0.07x | 0.06x | 0.05x | 0.06x | 0.06x | 0.05x |
| Debt / EBITDA | 4.05x | 6.42x | 5.18x | 6.58x | 10.61x | 10.96x | 6.16x | 4.16x | 6.07x | 2.86x | 3.00x | 7.34x | 5.68x | 3.84x | 2.15x | - | 0.04x | 0.07x | 0.71x | 0.94x | 1.19x | 1.32x | 0.75x | 0.70x | 0.60x | 0.24x | 0.19x | 0.18x | 0.18x | 0.26x | 0.15x |
| Net Debt / EBITDA | 3.30x | 5.46x | 2.39x | 5.98x | 10.21x | 10.13x | 5.58x | 3.62x | 5.18x | 2.35x | 2.51x | 6.60x | 4.88x | 3.23x | 0.98x | - | -1.84x | -1.94x | -0.94x | -1.96x | -2.48x | -2.16x | -1.07x | -0.85x | -0.42x | -0.31x | -0.42x | -1.57x | -0.92x | -2.18x | -2.11x |
| Interest Coverage | 1.39x | 0.48x | -0.41x | -0.78x | -0.11x | -0.11x | 0.71x | 2.64x | 1.18x | 3.96x | 3.27x | 0.45x | 1.76x | 6.38x | 17.62x | -11.62x | 69.00x | -7.70x | 14.09x | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 1.14B | 1.16B | 1.21B | 301M | 1.75B | 1.53B | 1.32B | 1.5B | 1.26B | 1.53B | 1.55B | 1.52B | 1.88B | 1.78B | 1.28B | 820M | 916M | 592M | 465M | 1.78B | 1.9B | 2.06B | 2.1B | 1.9B | 1.34B | 2.05B | 1.78B | 1.65B | 1.49B | 1.62B | 1.69B |
| Equity Growth % | 487.97% | -4.31% | 301% | -82.84% | 14.42% | 15.79% | -11.85% | 19.4% | -17.89% | -0.91% | 1.44% | -19.07% | 5.61% | 39.08% | 56.34% | -10.48% | 54.73% | 27.31% | -73.82% | -6.58% | -7.54% | -2.28% | 10.91% | 41.04% | -34.36% | 14.79% | 8.51% | 10.33% | -7.79% | -4.04% | 147.07% |
| Book Value per Share | 8.17 | 8.19 | 8.34 | 2.14 | 12.83 | 11.03 | 10.31 | 10.34 | 10.63 | 12.06 | 11.97 | 9.09 | 11.00 | 10.53 | 7.83 | 5.09 | 5.68 | 3.73 | 2.77 | 9.72 | 10.39 | 10.87 | 10.99 | 9.89 | 6.73 | 10.29 | 9.11 | 8.18 | 7.30 | 8.09 | 8.28 |
| Total Shareholders' Equity | 1.14B | 1.16B | 1.21B | 301M | 1.75B | 1.53B | 1.32B | 1.5B | 1.25B | 1.53B | 1.54B | 1.52B | 1.87B | 1.77B | 1.25B | 785M | 883M | 564M | 440M | 1.76B | 1.88B | 2.04B | 2.09B | 1.88B | 1.32B | 2.03B | 1.76B | 1.6B | 1.45B | 1.35B | 1.4B |
| Common Stock | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 1M | 1M | 1M | 1M | 1M | 1M | 1M | 1M |
| Retained Earnings | 551M | 559M | 535M | -421M | 1.07B | 1.03B | 950M | 1.06B | 606M | 857M | 867M | 869M | 1.56B | 1.37B | 929M | 1.99B | 1.94B | 1.8B | 1.83B | 1.61B | 1.9B | 1.52B | 989M | 699M | 641M | 861M | 644M | 466M | 129M | 7M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -448M | -884M | -469M | -429M | -300M | -291M | -271M | -269M | -246M | -199M | -205M | -150M | -136M | -38M | -37M | -1.49B | -1.33B | -1.51B | -1.64B | -536M | -676M | -279M | 65M | 9M | -534M | -70M | -43M | 48M | 22M | -93M | 1M |
| Minority Interest | 0 | 0 | -2M | 0 | -1M | 3M | 3M | 3M | 4M | 3M | 4M | 6M | 12M | 14M | 30M | 35M | 33M | 28M | 25M | 19M | 20M | 21M | 18M | 22M | 20M | 22M | 27M | 49M | 44M | 264M | 289M |
High leverage and liquidity
According to recent financial disclosures, VYX's total assets have contracted from $5.0 billion in 2023Q4 to $3.9 billion by 2026Q1, reflecting a significant reduction in the company's footprint following the separation of its ATM business and ongoing efforts to manage its capital structure post-spin-off.
The reduction in total assets suggests a deliberate effort to shed non-core elements, yet the persistence of high debt levels relative to equity indicates that the deleveraging process is far from complete. Investors should monitor whether this contraction represents a healthy streamlining of the business or a loss of operational scale that could impair future competitive positioning.
Based on reported figures, VYX maintains a debt-to-equity ratio of 1.16 as of 2026Q1, a notable improvement from the extreme volatility observed in 2024Q2, yet the $1.3 billion debt load continues to exert significant pressure on the company's ability to fund R&D and growth initiatives.
The reliance on debt to support operations appears to be a structural necessity rather than a strategic choice, given the company's limited cash generation. This leverage profile warrants further investigation into the maturity schedule of these obligations, as any refinancing in a high-interest environment could further strain the already thin operating margins.
As reported in recent SEC filings, the company's current ratio has hovered near 1.06 as of 2026Q1, indicating that VYX possesses a very narrow margin of safety to meet its short-term obligations without relying on external financing or further asset divestitures to maintain operational continuity.
The proximity of the current ratio to unity suggests that any unexpected disruption in working capital or a slowdown in software contract renewals could quickly lead to liquidity stress. This tight positioning implies that the company has little room for error in its ongoing transition toward a recurring revenue model.
Based on the provided balance sheet data, goodwill remains a substantial component of total assets at $1.5 billion, representing nearly 38% of the total asset base as of 2026Q1, which may indicate that the carrying value of past acquisitions is vulnerable to future impairment charges.
The high concentration of intangible assets relative to tangible PPE suggests that the balance sheet's perceived strength is heavily reliant on the valuation of historical deals rather than physical infrastructure. If the company fails to realize the expected synergies from these acquisitions, the resulting write-downs could significantly erode the already fragile equity base.
Quick answers to the most common questions about buying VYX stock.
As of 2025, NCR Voyix Corporation (VYX) had total assets of $3.92B including $1.10B in current assets.
NCR Voyix Corporation (VYX) carries total debt of $1.60B, offset by $239.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
NCR Voyix Corporation (VYX) has total shareholders' equity (book value) of $1.16B ($8.19 book value per share). Book value represents the net worth of the company belonging to common stock holders.
NCR Voyix Corporation (VYX) reported a current ratio of 1.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.