Logo

XRX

Xerox Holdings Corporation

XRX

Xerox Holdings Corporation • NASDAQ
$2.78 ▲ 4.51% (+0.12)
Market Cap $349.17 M
52w High $9.91
52w Low $2.32
Dividend Yield 0.42%
P/E -0.35
Volume 2.65M
Outstanding Shares 125.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.961B ▲ $1.309B ▲ $-760M ▼ -38.756% ▼ $-6.07 ▼ $-113M ▼
Q2-2025 $1.576B ▲ $411M ▼ $-106M ▼ -6.726% ▼ $-0.87 ▼ $52M ▲
Q1-2025 $1.457B ▼ $430M ▼ $-90M ▼ -6.177% ▼ $-0.75 ▼ $26M ▼
Q4-2024 $1.613B ▲ $467M ▲ $-21M ▲ -1.302% ▲ $-0.19 ▲ $124M ▲
Q3-2024 $1.528B $425M $-1.205B -78.861% $-9.72 $-996M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $479M ▲ $10.068B ▲ $9.474B ▲ $579M ▼
Q2-2025 $449M ▲ $8.874B ▲ $7.523B ▲ $1.336B ▲
Q1-2025 $336M ▼ $8.211B ▼ $6.93B ▼ $1.267B ▼
Q4-2024 $576M ▲ $8.365B ▲ $7.061B ▲ $1.29B ▼
Q3-2024 $521M $8.322B $6.791B $1.517B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-760M ▼ $159M ▲ $-725M ▼ $118M ▼ $-450M ▼ $131M ▲
Q2-2025 $-106M ▼ $-11M ▲ $-18M ▼ $618M ▲ $595M ▲ $-30M ▲
Q1-2025 $-90M ▼ $-89M ▼ $6M ▲ $-159M ▼ $-241M ▼ $-109M ▼
Q4-2024 $-23M ▲ $351M ▲ $-172M ▼ $-122M ▼ $41M ▲ $334M ▲
Q3-2024 $-1.205B $116M $-7M $-74M $39M $107M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Financial Service
Financial Service
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Maintenance
Maintenance
 $370.00M ▲$370.00M ▲$380.00M ▲$440.00M ▲
Manufactured Product Other
Manufactured Product Other
 $390.00M ▲$280.00M ▼$340.00M ▲$380.00M ▲
Product
Product
 $660.00M ▲$560.00M ▼$670.00M ▲$990.00M ▲
Rental And Other
Rental And Other
 $90.00M ▲$70.00M ▼$60.00M ▼$70.00M ▲
Service Arrangements
Service Arrangements
 $460.00M ▲$430.00M ▼$440.00M ▲$420.00M ▼
Supplies Paper And Other Sales
Supplies Paper And Other Sales
 $260.00M ▲$170.00M ▼$180.00M ▲$450.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Xerox’s income statement tells the story of a mature business under pressure. Sales have slowly drifted down over the last few years, and profits have been thin and inconsistent. The company has remained marginally profitable at the operating level in most years, but recent results show a sizable bottom‑line loss, suggesting restructuring costs, write‑downs, or integration effects are weighing on reported earnings. Margins have narrowed compared with earlier years, and earnings have been volatile rather than steadily improving. Overall, the income statement points to a business that is struggling to grow and to translate its revenue base into reliable, durable profits.

Balance Sheet

Balance Sheet The balance sheet has been shrinking over time, with total assets and cash balances both moving down. Debt has stayed relatively high while shareholders’ equity has been moving lower, which means leverage has increased and the financial cushion is thinner than it used to be. This combination suggests less flexibility to absorb setbacks and less room for aggressive investment without carefully managing risk. The structure is still workable, but the trend is toward a tighter, more leveraged position rather than a strengthening one.

Cash Flow

Cash Flow Despite weak accounting earnings, Xerox has continued to generate positive operating cash flow and free cash flow each year in the period shown. Cash generation has been fairly steady, supported by modest capital spending needs, which helps the company fund interest, restructuring, and some strategic initiatives without constantly relying on new borrowing. However, the cash flow level is not especially strong relative to the size of the business, leaving limited room for major missteps. The key question is whether this cash engine can be maintained as the print‑related business slowly declines and the services side scales up.

Competitive Edge

Competitive Edge Xerox still benefits from a globally recognized brand, long‑standing relationships with large corporate and government customers, and a strong position in managed print services. These strengths help keep revenue recurring and switching costs meaningful in many accounts. At the same time, the company operates in an industry facing structural decline as offices print less and digitize more. Competition from other print and office‑technology vendors is intense, and some rivals may be better positioned in faster‑growing digital categories. Industry analysts have flagged erosion in Xerox’s traditional moat, reflecting declining equipment sales and reduced differentiation. Overall, Xerox’s competitive position is solid but under steady pressure, relying on successful execution of its transition strategy to avoid further slippage.

Innovation and R&D

Innovation and R&D Xerox’s innovation story has shifted from breakthrough hardware to smarter, connected, and service‑oriented offerings. The company is leaning on platforms like ConnectKey to turn printers into secure, app‑enabled workflow hubs, and it is integrating artificial intelligence, cloud connectivity, and Internet‑of‑Things capabilities into devices and services. It is also pushing deeper into IT services for smaller and mid‑sized businesses, as well as advanced production presses and cloud‑based print management. The Lexmark acquisition and various security partnerships aim to strengthen its relevance in a more digital, distributed workplace. The opportunity is meaningful, but Xerox is competing against much larger technology and services providers, and its R&D and transformation efforts must overcome both legacy perceptions and the structural decline in printing. Success depends on how quickly and profitably these newer offerings can scale relative to the shrinking core.

Summary

Xerox is a classic legacy technology company in the middle of a difficult reinvention. Financially, revenue has been edging down, margins have tightened, and recent net losses highlight the cost and complexity of restructuring. The balance sheet is more leveraged and less cushioned than in the past, though the business still throws off positive free cash flow. Competitively, Xerox retains real strengths—brand, installed base, managed print leadership, and security credibility—but these are being chipped away by digitization and strong rivals. Its future hinges on shifting more of the business toward software‑enabled services, AI‑driven workflows, cloud and IT services, and next‑generation production systems. The core trade‑off is clear: can growth in these newer areas outpace the structural decline of traditional print fast enough, and with enough profitability, to stabilize and eventually improve the company’s financial profile.

NEWS

November 19, 2025 · 5:15 PM UTC

Xerox Appoints Chuck Butler as Chief Financial Officer

Read more

November 19, 2025 · 9:00 AM UTC

Xerox Launches Unified Cybersecurity Solution for SMBs Powered by Palo Alto Networks and Cyber Insurance from The Hartford

Read more

November 6, 2025 · 2:30 PM UTC

Xerox Holdings Corporation Declares Dividend on Common and Preferred Stock

Read more

October 30, 2025 · 6:30 AM UTC

Xerox Releases Third-Quarter Results

Read more

October 29, 2025 · 8:00 AM UTC

IPValue Acquires Major Patent Portfolio from Xerox

Read more