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NCR Atleos Corporation
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NYSE: NATL Technology IT 🔎 Screen
🏹 Trader: 🎯 Near 52W High | BRS 64 Forming · stale View all →
$3.4B
Market Cap
19.7
P/E
1.30
PEG
13.1%
ROCE
48.6%
ROE
6.34
D/E
13.2%
OPM
-4.8%
% from 52W High
69
α RS
🔍 NATL is showing a near-52W-high setup because it's within 4.8% of its 52-week high, Sector RRG has Technology in the Improving quadrant with the trail still strengthening, RS Rating is 69, and it has maintained a 35-day Near 52-Week High momentum persistence. The main caution: the Magic Formula preset's Backtest win rate is only 48.2%. Net: Mixed signal stack, not a recommendation. ? 52W High RRG RS Rating Momentum Streaks Backtest
Sources
4.8% from 52W high · Technology in Improving quadrant · RS Rating 69 · Near 52-Week High streak: 35d · Backtest win rate 48.2%
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🌏 Global Investor Returns
Currency-adjusted total returns for NATL including FX impact
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📈 Price History
Ratio Health
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About

NCR Atleos Corporation, a financial technology company, engages in the provision of self-directed banking solutions to financial institutions, merchants, manufacturers, retailers, and consumers in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through three segments: Self-Service Banking; Network; and Telecommunications & Technology (T&T). It offers solutions, including a line of automated teller machine (ATM) hardware and software, as well as elated installation, maintenance, and managed and professional services; and ATM as a service to manage and run for financial institutions that include back office, cash management, software management, and ATM deployment. The company also provides network of ATMs and multi-functioning financial services kiosks for financial institutions, financial technology companies, neobanks, and retailers; Allpoint network which provides cash withdrawal and deposit access to credit unions, banks, digital banks, fintechs, stored-value debit card issuers, and other consumer financial services providers; and ATM branding solutions to financial institutions, ATM management and services to retailers and other businesses, and LibertyX solution which gives consumers the ability to buy and sell Bitcoin. In addition, it offers managed network and infrastructure services to enterprise clients across various industries through communications service providers and technology manufacturers; and professional, field, and remote services for modern network technologies, including software-defined wide area networking, network functions virtualization, wireless local area networks, optical networking, and edge networks. NCR Atleos Corporation was founded in 1884 and is headquartered in Atlanta, Georgia.

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📈 Growth Pattern
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⭐ Superinvestors Holding NATL
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 81.5K $3.6M 0.01% Mar 2026
Steve Cohen Point72 Asset Management 78.7K $3.4M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED NCR Atleos reports 6% core revenue growth, $219M EBITDA in Q3 2025
Revenue & Profitability
Core revenue grew 6% year-over-year. Adjusted EBITDA was $219M, up 8% on a core basis. Non-GAAP diluted EPS was $1.09, up 22% year-over-year. Free Cash Flow reached $124M in the quarter. Net leverage improved to 2.99x, with net debt under $2.5B. The company repurchased no shares in Q3 due to trading window restrictions but expects to begin repurchases in Q4.
Outlook
Management sees accelerating demand for ATM outsourcing and a strong hardware refresh cycle. They reaffirmed full-year 2025 guidance, expecting revenue at the high end (driven by hardware) and Adjusted EBITDA at the lower end due to tariffs and macro pressures. Tariffs on Indian imports (currently 50%) are expected to stabilize near 25% in 2026. The network business is expected to return to growth in Q4. Free Cash Flow conversion is expected to improve from 30% to 35% over the next 12 months.
Growth Drivers
Key growth levers include ATM as a Service, which grew 37% to $67M and is expected to maintain ~40% growth, with ARR on track to exceed $300M by year-end. Hardware revenue grew 24%, driven by recycler shipments (up 60% year-over-year). Network segment growth is supported by deposit transactions (up 90%) and expansion in Canada (Access Cash added 6,000 ATMs), Greece, and Italy. ReadyCode digital-to-cash platform is gaining traction with fintech and gig economy partners.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
SSB Adjusted EBITDA margin expanded 220 basis points year-over-year to above 26%, with margins up across hardware, software, and services. Network segment margin was 28% (down year-over-year due to higher vault cash costs). Overall core Adjusted EBITDA margin was 19.5%, up 40 basis points. ATM as a Service gross margin expanded 700 basis points to 40%. Productivity improvements and fixed cost leverage drove margin expansion, partially offset by $7M in tariff costs in SSB.
Key Risks
Risks include import tariffs (currently 50% on products from India, expected to moderate but uncertain), macroeconomic pressures on payroll card transactions (down 15-16% year-over-year due to immigration policy changes), higher vault cash costs (up $9M year-over-year), and pharmacy closures affecting network machine count. The company noted it has overcome these headwinds through contingency planning and cost actions.
Generated by AI · Q3 2025 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q3 2025 Q3 2025 2025-11-06
Q3 2025 saw strong growth in self-service banking and ATM as a Service, with revenue and profitability exceeding guidance. Tariffs and macro headwinds were managed, leverage improved, and a share repurchase program will launch in Q4. Guidance for 2025 is reaffirmed.
Q2 2025 Q2 2025 2025-08-07
Q2 2025 saw strong revenue and profit growth, led by hardware and ATM as a Service, with margins expanding and recurring revenue exceeding 70%. Guidance for 2025 was reaffirmed, a $200M share repurchase was authorized, and net leverage is set to fall below 3x.
Q1 2025 Q1 2025 2025-05-08
Q1 2025 results met or exceeded expectations, with strong growth in services, software, and ATM as a Service, and robust hardware demand. Guidance for 2025 is reaffirmed despite tariff and regulatory headwinds, with leverage reduction and potential share buybacks prioritized.
Q4 2024 Q4 2024 2025-03-04
Delivered strong 2024 results with revenue of $4.3B (+3% YoY), adjusted EBITDA of $781M (+7%), and free cash flow of $242M, all exceeding guidance. 2025 outlook calls for continued growth in revenue, EBITDA, and free cash flow, with a focus on expanding service revenue and reducing leverage.
Q3 2024 Q3 2024 2024-11-13
Third quarter results exceeded expectations with 4% revenue growth, strong recurring revenue, and margin expansion. ATM as a Service and network segments drove growth, while refinancing improved liquidity and future cash flow. Guidance for 2024 EPS was raised, and deleveraging remains a priority.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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Information Sources:
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