Short answer
NCR Voyix Corp (VYX) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $2.7B (−4.9% year over year) and net income of $62M.
- Top risk flagged: Tax payment $284M related to Digital Banking Sale increased 2025 operating cash outflow to $210M
FY2025 key financial metrics · XBRL
- Revenue
- $2.7B
- −4.9% YoY
- Net income
- $62M
- −93.5% YoY
- Operating margin
- 1.0%
- +2.3 pp YoY
- EPS (diluted)
- $0.30
- −95.4% YoY
- ROE
- 6.5%
- −96.1 pp YoY
- Operating cash flow
- −$210M
- −59.1% YoY
Source: XBRL data from the NCR Voyix Corp (VYX) FY2025 10-K on SEC EDGAR. USD.
NCR Voyix Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Payments solutions provider requiring bank sponsorship and card brand registrations for transaction processing
- Emphasis on compliance with evolving global payments regulations and potential impacts on service offerings and financial performance
- International revenue steady at 39% in 2025 and 2024, with highlighted risks including geopolitical instability and currency fluctuations
- Risk management challenges for rapidly evolving business environment and exposure to natural disasters in key locations like California, Texas, India
- Ongoing environmental liabilities related to historical manufacturing operations, including Kalamazoo River remediation efforts
Management Discussion & Analysis
- Operating cash flow $(210)M in 2025, adjusted free cash flow $27M despite $(165)M capex
- No outstanding balance on $200M term loan and $500M revolver as of 12/31/25; $24M in letters of credit outstanding
- $650M 5.000% senior unsecured notes due 2028, $403M 5.125% due 2029, $52M 5.250% due 2030 outstanding
- Cash taxes paid $284M related to Digital Banking Sale, pension contributions $26M, environmental operations cash $37M
Risk Factors
- Tax payment $284M related to Digital Banking Sale increased 2025 operating cash outflow to $210M
- Net cash used in operating activities from discontinued operations $302M in 2024, zero in 2025 post Digital Banking Sale
- Investment in capital expenditures $165M in 2025 focused on software and equipment to support business operations
- Share repurchases $74M each for preferred and common stock in 2025 under active buyback program
- Termination of $300M trade receivables facility in 2024 increased investing cash outflow reflecting liquidity restructuring
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