Xerox Holdings Corp XRX
Xerox is a workplace technology company, building and integrating services-led, software-enabled, workplace solutions for enterprises large and small. As customers seek to manage information and document workflows across digital and physical platforms, we deliver a seamless, secure, and sustainable experience. Whether inventing the copier, the Ethernet, the laser printer or more, Xerox has long defined the modern work experience and continues to do so with investments in IT infrastructure, artificial intelligence (AI), Internet of Things (IoT), intelligent document processing (IDP), robotic process automation (RPA) and other technologies that enable Xerox to deliver essential products and services to address the productivity challenges of a hybrid workplace and distributed workforce.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.02B | $6.22B | $6.89B | $7.11B | $7.04B | $7.02B | $9.07B | $9.66B | $9.99B | — |
| Gross profit | — | — | — | $275.0M | $375.0M | — | — | — | — | — |
| SG&A | $1.65B | $1.54B | $1.70B | $1.76B | $1.72B | $1.85B | $2.08B | $2.38B | $2.51B | — |
| Total operating expenses | $7.51B | $7.44B | $6.91B | $7.43B | $7.51B | $6.77B | $8.24B | $9.11B | $9.47B | — |
| Interest expense | $334.0M | $225.0M | $198.0M | $199.0M | $207.0M | $215.0M | $236.0M | $244.0M | $252.0M | — |
| Pre-tax income | -$488.0M | -$1.22B | $30.0M | -$328.0M | -$475.0M | $252.0M | $822.0M | $549.0M | $525.0M | — |
| Income tax | $541.0M | $105.0M | $29.0M | $3.0M | $17.0M | $64.0M | $179.0M | $247.0M | $468.0M | — |
| Net income | -$1.03B | -$1.32B | $1.0M | -$322.0M | -$455.0M | $192.0M | $1.35B | $361.0M | $195.0M | — |
| EPS, basic | -8.25 | -10.75 | -0.09 | -2.15 | -2.56 | 0.85 | 6.03 | 1.40 | 0.71 | — |
| EPS, diluted | -8.25 | -10.75 | -0.09 | -2.15 | -2.56 | 0.84 | 5.80 | 1.38 | 0.71 | — |
| Shares, diluted (wtd. avg.) | $126.5M | $124.2M | $149.1M | $156.0M | $183.2M | $209.0M | $222.0M | $251.7M | $256.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $512.0M | $576.0M | $617.0M | $1.14B | $1.91B | $2.62B | $2.74B | $1.08B | — | — |
| Receivables | $1.12B | $796.0M | $850.0M | $857.0M | $818.0M | $883.0M | $1.24B | $1.27B | — | — |
| Inventory | $1.02B | $695.0M | $661.0M | $797.0M | $696.0M | $843.0M | $694.0M | $829.0M | — | — |
| Total current assets | $3.57B | $2.94B | $3.18B | $4.11B | $4.70B | $5.78B | $6.14B | $4.71B | — | — |
| Property, plant and equipment | $299.0M | $245.0M | $265.0M | $235.0M | $253.0M | $296.0M | $364.0M | $498.0M | — | — |
| Goodwill | $2.22B | $1.94B | $2.75B | $2.82B | $3.29B | $4.07B | $3.90B | $3.86B | $3.92B | $3.78B |
| Other intangibles | $921.0M | $236.0M | $177.0M | $208.0M | $211.0M | $237.0M | $199.0M | $220.0M | — | — |
| Total assets | $9.82B | $8.37B | $10.01B | $11.54B | $13.22B | $14.74B | $15.05B | $14.87B | — | — |
| Accounts payable | $1.50B | $1.02B | $1.04B | $1.33B | $1.07B | $983.0M | $1.05B | $1.07B | — | — |
| Short-term debt | $231.0M | $585.0M | $567.0M | $860.0M | $650.0M | $394.0M | $1.05B | $961.0M | — | — |
| Total current liabilities | $3.22B | $2.62B | $2.78B | $3.33B | $2.83B | $2.48B | $3.44B | $3.25B | — | — |
| Long-term debt | $4.02B | $2.81B | $2.71B | $2.87B | $3.60B | $4.05B | $3.23B | — | — | — |
| Total liabilities | $9.15B | $7.06B | $7.24B | $7.97B | $8.56B | $8.93B | $9.24B | $9.62B | — | — |
| Retained earnings | $2.44B | $3.51B | $4.98B | $5.14B | $5.63B | $6.28B | $6.31B | $5.07B | — | — |
| Total equity | $444.0M | $1.08B | $2.55B | $3.35B | $4.44B | $5.60B | $5.59B | $5.04B | $5.29B | $4.75B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $224.0M | $511.0M | $686.0M | $159.0M | $629.0M | $548.0M | $1.33B | $1.14B | -$267.0M | — |
| Depreciation and amortisation | $331.0M | $274.0M | $251.0M | $270.0M | $327.0M | $368.0M | $430.0M | $526.0M | $527.0M | — |
| Stock-based compensation | $45.0M | $52.0M | $54.0M | $75.0M | $54.0M | $42.0M | $50.0M | $57.0M | $52.0M | — |
| Capital expenditure | $37.0M | $27.0M | $29.0M | $36.0M | $29.0M | $44.0M | $41.0M | $55.0M | $69.0M | — |
| Investing cash flow | -$698.0M | -$198.0M | -$5.0M | -$78.0M | -$85.0M | -$246.0M | $2.15B | -$29.0M | $165.0M | — |
| Financing cash flow | $404.0M | -$271.0M | -$1.20B | -$822.0M | -$1.31B | -$416.0M | -$1.83B | -$1.30B | -$985.0M | — |
| Dividends paid | $57.0M | $127.0M | $151.0M | $160.0M | $192.0M | $216.0M | $229.0M | $255.0M | $274.0M | — |
| Buybacks | $0 | $8.0M | $544.0M | $113.0M | $888.0M | $300.0M | $600.0M | $700.0M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001770450-26-000020.
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