NASDAQ : XRX
Xerox Holdings Corporation — Financial statements
Industrials · Business Equipment & Supplies · United States
Last price 1.465 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 194.40M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Xerox Holdings Corporation (XRX) reported revenue of 7.66B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 7.66B | 7.02B | 6.22B | 6.89B | 6.90B | 6.82B |
| Other Revenue | 207.00M | 221.00M | ||||
| Revenue | 7.66B | 7.02B | 6.22B | 6.89B | 7.11B | 7.04B |
| Cost of Revenue | 5.28B | 5.00B | 4.21B | 4.57B | 4.68B | 4.52B |
| Gross Profit | 2.38B | 2.03B | 2.01B | 2.31B | 2.32B | 2.40B |
| Selling, General & Admin | 1.71B | 1.70B | 1.62B | 1.72B | 1.75B | 1.63B |
| Research & Development | 258.00M | 230.00M | 191.00M | 229.00M | 304.00M | 310.00M |
| Amortization of Goodwill & Intangibles | 124.00M | 83.00M | 73.00M | 43.00M | 42.00M | 55.00M |
| Operating Expenses | 2.09B | 2.01B | 1.88B | 1.99B | 2.09B | 1.99B |
| Operating Income | 291.00M | 15.00M | 130.00M | 327.00M | 224.00M | 409.00M |
| Interest Expense | -357.00M | -248.00M | -119.00M | -68.00M | -91.00M | -96.00M |
| Interest & Investment Income | 14.00M | 14.00M | 14.00M | 16.00M | 11.00M | 4.00M |
| Currency Exchange Gain (Loss) | -12.00M | -12.00M | -15.00M | -28.00M | -13.00M | -7.00M |
| Other Non Operating Income (Expenses) | 49.00M | -38.00M | -9.00M | -137.00M | 3.00M | -3.00M |
| EBT Excluding Unusual Items | -15.00M | -269.00M | 1.00M | 110.00M | 134.00M | 307.00M |
| Merger & Restructuring Charges | -137.00M | -225.00M | -163.00M | -167.00M | -65.00M | -38.00M |
| Impairment of Goodwill | -959.00M | -1.06B | -412.00M | -781.00M | ||
| Gain (Loss) on Sale of Assets | 5.00M | 9.00M | -39.00M | 39.00M | 56.00M | 40.00M |
| Legal Settlements | -8.00M | -8.00M | -2.00M | |||
| Other Unusual Items | 5.00M | 5.00M | 45.00M | -10.00M | -38.00M | |
| Pretax Income | -1.11B | -488.00M | -1.22B | -28.00M | -325.00M | -472.00M |
| Income Tax Expense | 71.00M | 541.00M | 105.00M | -29.00M | -3.00M | -17.00M |
| Earnings From Continuing Operations | -1.18B | -1.03B | -1.32B | 1.00M | -322.00M | -455.00M |
| Net Income to Company | -1.18B | -1.03B | -1.32B | 1.00M | -322.00M | -455.00M |
| Net Income | -1.18B | -1.03B | -1.32B | 1.00M | -322.00M | -455.00M |
| Preferred Dividends & Other Adjustments | 14.00M | 14.00M | 14.00M | 14.00M | 14.00M | 14.00M |
| Net Income to Common | -1.19B | -1.04B | -1.33B | -13.00M | -336.00M | -469.00M |
| Shares Outstanding (Basic) | 129.78M | 126.47M | 124.21M | 149.12M | 156.01M | 183.17M |
| Shares Outstanding (Diluted) | 129.78M | 126.47M | 124.21M | 149.12M | 156.01M | 183.17M |
| EPS (Basic) | -9.20 | -8.25 | -10.75 | -0.09 | -2.15 | -2.56 |
| EPS (Diluted) | -9.20 | -8.25 | -10.75 | -0.09 | -2.15 | -2.56 |
| Free Cash Flow | 37.00M | 133.00M | 467.00M | 649.00M | 102.00M | 561.00M |
| Free Cash Flow Per Share | 0.28 | 1.05 | 3.76 | 4.35 | 0.65 | 3.06 |
| Dividend Per Share | 0.10 | 0.20 | 1.00 | 1.00 | 1.00 | 1.00 |
| Gross Margin | 31.12% | 28.87% | 32.33% | 33.60% | 32.62% | 34.14% |
| Operating Margin | 3.80% | 0.21% | 2.09% | 4.75% | 3.15% | 5.81% |
| Profit Margin | -15.58% | -14.85% | -21.46% | -0.19% | -4.73% | -6.66% |
| Free Cash Flow Margin | 0.48% | 1.89% | 7.51% | 9.43% | 1.44% | 7.97% |
| EBITDA | 664.00M | 316.00M | 377.00M | 541.00M | 449.00M | 695.00M |
| EBITDA Margin | 8.66% | 4.50% | 6.06% | 7.86% | 6.32% | 9.88% |
| D&A For EBITDA | 373.00M | 301.00M | 247.00M | 214.00M | 225.00M | 286.00M |
| EBIT | 291.00M | 15.00M | 130.00M | 327.00M | 224.00M | 409.00M |
| EBIT Margin | 3.80% | 0.21% | 2.09% | 4.75% | 3.15% | 5.81% |
| Revenue as Reported | 7.66B | 7.02B | 6.22B | 6.89B | 7.11B | 7.04B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 412.00M | 512.00M | 576.00M | 519.00M | 1.04B | 1.84B |
| Cash & Short-Term Investments | 412.00M | 512.00M | 576.00M | 519.00M | 1.04B | 1.84B |
| Accounts Receivable | 1.15B | 1.17B | 798.00M | 850.00M | 857.00M | 818.00M |
| Other Receivables | 44.00M | 22.00M | 13.00M | 27.00M | 11.00M | |
| Receivables | 1.15B | 1.21B | 820.00M | 863.00M | 884.00M | 829.00M |
| Inventory | 1.06B | 1.02B | 695.00M | 661.00M | 797.00M | 696.00M |
| Finance Div. Loans and Leases | 474.00M | 556.00M | 656.00M | 913.00M | 1.15B | 1.14B |
| Prepaid Expenses | 142.00M | 58.00M | 48.00M | 55.00M | 53.00M | |
| Restricted Cash | 31.00M | 33.00M | 70.00M | 55.00M | 33.00M | |
| Other Current Assets | 536.00M | 98.00M | 97.00M | 103.00M | 117.00M | 114.00M |
| Total Current Assets | 3.64B | 3.57B | 2.94B | 3.18B | 4.11B | 4.70B |
| Property, Plant & Equipment | 365.00M | 701.00M | 430.00M | 438.00M | 535.00M | 622.00M |
| Long-Term Investments | 96.00M | 89.00M | 66.00M | 59.00M | 54.00M | |
| Goodwill | 1.27B | 2.22B | 1.94B | 2.75B | 2.82B | 3.29B |
| Other Intangible Assets | 827.00M | 1.07B | 296.00M | 245.00M | 303.00M | 331.00M |
| Finance Div. Loans and Leases Long-Term | 735.00M | 846.00M | 1.09B | 1.60B | 1.95B | 1.93B |
| Long-Term Deferred Tax Assets | 68.00M | 98.00M | 615.00M | 745.00M | 582.00M | 519.00M |
| Long-Term Deferred Charges | 163.00M | 139.00M | 136.00M | 135.00M | 147.00M | |
| Other Long-Term Assets | 1.45B | 763.00M | 590.00M | 592.00M | 819.00M | 1.38B |
| Total Assets | 8.63B | 9.82B | 8.37B | 10.01B | 11.54B | 13.22B |
| Accounts Payable | 1.48B | 1.50B | 1.02B | 1.04B | 1.33B | 1.07B |
| Accrued Expenses | 1.48B | 871.00M | 472.00M | 584.00M | 578.00M | 530.00M |
| Short-Term Debt | 81.00M | |||||
| Current Portion of Long-Term Debt | 157.00M | 231.00M | 585.00M | 567.00M | 860.00M | 650.00M |
| Current Portion of Leases | 69.00M | 60.00M | 49.00M | 68.00M | 81.00M | |
| Current Income Taxes Payable | 75.00M | 33.00M | 39.00M | 16.00M | 30.00M | |
| Current Unearned Revenue | 190.00M | 133.00M | 147.00M | 154.00M | 194.00M | |
| Other Current Liabilities | 288.00M | 313.00M | 349.00M | 323.00M | 275.00M | |
| Total Current Liabilities | 3.20B | 3.22B | 2.62B | 2.78B | 3.33B | 2.83B |
| Long-Term Debt | 4.06B | 4.02B | 2.81B | 2.71B | 2.87B | 3.60B |
| Long-Term Leases | 266.00M | 181.00M | 150.00M | 177.00M | 209.00M | |
| Long-Term Unearned Revenue | 109.00M | 19.00M | ||||
| Pension & Post-Retirement Benefits | 1.14B | 1.23B | 1.24B | 1.39B | 1.36B | 1.65B |
| Long-Term Deferred Tax Liabilities | 138.00M | 85.00M | 95.00M | 95.00M | 108.00M | |
| Other Long-Term Liabilities | 681.00M | 172.00M | 101.00M | 115.00M | 139.00M | 164.00M |
| Total Liabilities | 9.08B | 9.15B | 7.06B | 7.24B | 7.97B | 8.56B |
| Common Stock | 133.00M | 128.00M | 124.00M | 123.00M | 156.00M | 168.00M |
| Additional Paid-In Capital | 1.21B | 1.18B | 1.14B | 1.11B | 1.59B | 1.80B |
| Retained Earnings | 1.30B | 2.44B | 3.51B | 4.98B | 5.14B | 5.63B |
| Treasury Stock | -177.00M | |||||
| Comprehensive Income & Other | -3.33B | -3.31B | -3.70B | -3.68B | -3.54B | -2.99B |
| Total Common Equity | -683.00M | 444.00M | 1.08B | 2.54B | 3.34B | 4.44B |
| Minority Interest | 16.00M | 15.00M | 14.00M | 20.00M | 20.00M | 17.00M |
| Shareholders' Equity | -453.00M | 673.00M | 1.30B | 2.77B | 3.58B | 4.67B |
| Total Liabilities & Equity | 8.63B | 9.82B | 8.37B | 10.01B | 11.54B | 13.22B |
| Total Debt | 4.30B | 4.58B | 3.64B | 3.48B | 3.97B | 4.54B |
| Net Cash (Debt) | -3.89B | -4.07B | -3.06B | -2.96B | -2.93B | -2.70B |
| Net Cash Per Share | -29.97 | -32.18 | -24.67 | -19.83 | -18.76 | -14.72 |
| Filing Date Shares Outstanding | 132.69M | 128.62M | 125.28M | 124.18M | 156.43M | 156.35M |
| Total Common Shares Outstanding | 132.69M | 128.04M | 124.44M | 123.14M | 155.78M | 159.39M |
| Working Capital | 437.00M | 346.00M | 316.00M | 398.00M | 777.00M | 1.87B |
| Book Value Per Share | -5.15 | 3.47 | 8.65 | 20.61 | 21.46 | 27.83 |
| Tangible Book Value | -2.78B | -2.85B | -1.16B | -454.00M | 220.00M | 818.00M |
| Tangible Book Value Per Share | -20.97 | -22.22 | -9.30 | -3.69 | 1.41 | 5.13 |
| Land | 24.00M | 8.00M | 8.00M | 8.00M | 9.00M | |
| Buildings | 541.00M | 669.00M | 678.00M | 708.00M | 777.00M | |
| Machinery | 1.10B | 1.18B | 1.29B | 1.46B | 1.57B | |
| Construction In Progress | 38.00M | 11.00M | 11.00M | 15.00M | 17.00M | |
| Leasehold Improvements | 92.00M | 72.00M | 78.00M | 112.00M | 112.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.18B | -1.03B | -1.32B | 1.00M | -322.00M | -455.00M |
| Depreciation & Amortization | 373.00M | 301.00M | 247.00M | 214.00M | 225.00M | 286.00M |
| Other Amortization | 30.00M | 30.00M | 27.00M | 37.00M | 45.00M | 41.00M |
| Loss (Gain) From Sale of Assets | 2.00M | -9.00M | 39.00M | -39.00M | -56.00M | -40.00M |
| Asset Writedown & Restructuring Costs | 947.00M | -2.00M | 1.07B | 119.00M | 422.00M | 736.00M |
| Stock-Based Compensation | 41.00M | 45.00M | 52.00M | 54.00M | 75.00M | 54.00M |
| Provision & Write-off of Bad Debts | 40.00M | 40.00M | 44.00M | 36.00M | 36.00M | 12.00M |
| Other Operating Activities | 353.00M | 558.00M | 78.00M | 12.00M | -121.00M | -321.00M |
| Change in Accounts Receivable | -47.00M | -36.00M | 71.00M | -5.00M | -48.00M | 41.00M |
| Change in Inventory | 14.00M | -12.00M | -122.00M | 123.00M | -143.00M | 88.00M |
| Change in Accounts Payable | 20.00M | 24.00M | -48.00M | -290.00M | 278.00M | 118.00M |
| Change in Other Net Operating Assets | 38.00M | 340.00M | 427.00M | 436.00M | -205.00M | 59.00M |
| Operating Cash Flow | 131.00M | 224.00M | 511.00M | 686.00M | 159.00M | 629.00M |
| Capital Expenditures | -94.00M | -91.00M | -44.00M | -37.00M | -57.00M | -68.00M |
| Cash Acquisitions | 19.00M | -674.00M | -161.00M | -7.00M | -93.00M | -53.00M |
| Divestitures | 33.00M | 79.00M | 35.00M | 43.00M | 87.00M | 44.00M |
| Other Investing Activities | -19.00M | -12.00M | -28.00M | -4.00M | -15.00M | -8.00M |
| Investing Cash Flow | -61.00M | -698.00M | -198.00M | -5.00M | -78.00M | -85.00M |
| Short-Term Debt Issued | 119.00M | |||||
| Long-Term Debt Issued | 1.14B | 907.00M | 1.40B | 1.19B | 311.00M | |
| Total Debt Issued | 657.00M | 1.26B | 907.00M | 1.40B | 1.19B | 311.00M |
| Long-Term Debt Repaid | -755.00M | -992.00M | -1.87B | -1.72B | -519.00M | |
| Total Debt Repaid | -755.00M | -755.00M | -992.00M | -1.87B | -1.72B | -519.00M |
| Net Debt Issued (Repaid) | -98.00M | 504.00M | -85.00M | -478.00M | -529.00M | -208.00M |
| Repurchase of Common Stock | -8.00M | -544.00M | -113.00M | -888.00M | ||
| Preferred Dividends Paid | -14.00M | -14.00M | -14.00M | -14.00M | -14.00M | |
| Common Dividends Paid | -57.00M | -127.00M | -151.00M | -160.00M | -192.00M | |
| Dividends Paid | -71.00M | -141.00M | -165.00M | -174.00M | -206.00M | |
| Other Financing Activities | 26.00M | -29.00M | -37.00M | -15.00M | -6.00M | -8.00M |
| Financing Cash Flow | -72.00M | 404.00M | -271.00M | -1.20B | -822.00M | -1.31B |
| Foreign Exchange Rate Adjustments | -3.00M | 4.00M | -28.00M | -1.00M | -29.00M | -16.00M |
| Net Cash Flow | -5.00M | -66.00M | 14.00M | -522.00M | -770.00M | -782.00M |
| Free Cash Flow | 37.00M | 133.00M | 467.00M | 649.00M | 102.00M | 561.00M |
| Free Cash Flow Margin | 0.48% | 1.89% | 7.51% | 9.43% | 1.44% | 7.97% |
| Free Cash Flow Per Share | 0.28 | 1.05 | 3.76 | 4.35 | 0.65 | 3.06 |
| Levered Free Cash Flow | 353.75M | 390.38M | 398.88M | 594.88M | 474.12M | 904.62M |
| Unlevered Free Cash Flow | 576.88M | 545.38M | 473.25M | 637.38M | 531.00M | 964.62M |
| Cash Interest Paid | 272.00M | 272.00M | 214.00M | 201.00M | 201.00M | 203.00M |
| Cash Income Tax Paid | 65.00M | 65.00M | 65.00M | 51.00M | 50.00M | 61.00M |
| Change in Working Capital | -475.00M | 290.00M | 278.00M | 252.00M | -145.00M | 316.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 169.18M | 303.45M | 1.05B | 2.25B | 2.27B | 4.04B |
| Enterprise Value | 4.06B | 4.81B | 4.20B | 5.75B | 5.55B | 6.67B |
| Last Close Price | 1.47 | 2.29 | 7.77 | 15.48 | 11.57 | 16.85 |
| Forward PE | 2.87 | 6.42 | 10.93 | 10.99 | 14.49 | |
| PS Ratio | 0.03 | 0.04 | 0.17 | 0.33 | 0.32 | 0.57 |
| PB Ratio | 0.45 | 0.80 | 0.81 | 0.64 | 0.87 | |
| P/TBV Ratio | 10.33 | 4.94 | ||||
| P/FCF Ratio | 5.25 | 2.28 | 2.25 | 3.47 | 22.27 | 7.20 |
| P/OCF Ratio | 1.48 | 1.35 | 2.05 | 3.28 | 14.29 | 6.42 |
| PEG Ratio | 0.75 | 0.75 | 0.75 | 0.75 | 20.24 | |
| EV/Sales Ratio | 0.53 | 0.69 | 0.68 | 0.83 | 0.78 | 0.95 |
| EV/EBITDA Ratio | 6.15 | 15.21 | 11.15 | 10.63 | 12.37 | 9.60 |
| EV/EBIT Ratio | 14.03 | 320.50 | 32.33 | 17.59 | 24.79 | 16.31 |
| EV/FCF Ratio | 110.36 | 36.15 | 9.00 | 8.86 | 54.43 | 11.89 |
| Debt / Equity Ratio | -9.49 | 6.81 | 2.79 | 1.25 | 1.11 | 0.97 |
| Debt / EBITDA Ratio | 6.48 | 9.07 | 7.04 | 5.02 | 6.54 | 5.26 |
| Debt / FCF Ratio | 116.24 | 34.45 | 7.79 | 5.36 | 38.93 | 8.09 |
| Net Debt / Equity Ratio | -8.59 | 6.05 | 2.35 | 1.07 | 0.82 | 0.58 |
| Net Debt / EBITDA Ratio | 5.86 | 12.88 | 8.13 | 5.47 | 6.52 | 3.88 |
| Net Debt / FCF Ratio | 105.11 | 30.60 | 6.56 | 4.56 | 28.69 | 4.81 |
| Asset Turnover | 0.82 | 0.77 | 0.68 | 0.64 | 0.57 | 0.50 |
| Inventory Turnover | 4.79 | 5.84 | 6.21 | 6.27 | 6.27 | 5.88 |
| Quick Ratio | 0.64 | 0.71 | 0.78 | 0.83 | 0.93 | 1.34 |
| Current Ratio | 1.14 | 1.11 | 1.12 | 1.14 | 1.23 | 1.66 |
| Return on Equity (ROE) | -1,673.76% | -104.10% | -64.82% | 0.03% | -7.81% | -8.69% |
| Return on Assets (ROA) | 1.95% | 0.10% | 0.88% | 1.90% | 1.13% | 1.83% |
| Return on Invested Capital (ROIC) | 5.94% | 0.33% | 2.57% | 5.35% | 3.23% | 5.33% |
| Return on Capital Employed (ROCE) | 5.40% | 0.20% | 2.30% | 4.50% | 2.70% | 3.90% |
| Earnings Yield | -721.94% | -339.10% | -125.99% | 0.04% | -14.17% | -11.26% |
| FCF Yield | 19.03% | 43.83% | 44.54% | 28.81% | 4.49% | 13.88% |
| Dividend Yield | 7.84% | 8.44% | 11.87% | 5.47% | 6.86% | 3.94% |
| Payout Ratio | 16,500.00% | |||||
| Buyback Yield / Dilution | -3.36% | -1.82% | 16.70% | 4.42% | 14.83% | 13.37% |
| Total Shareholder Return | 3.46% | 6.62% | 28.57% | 9.88% | 21.69% | 17.31% |