# NCR Atleos (NATL.US)

Canonical: https://gigainvestors.com/s/NATL

Analysis as of: 2026-10-16T07:30:31.446Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $46.06 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Steven Romick](https://gigainvestors.com/FPA): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Up 109% since Oct 2023 · "NCR Atleos outlines 40% ATM-as-a-Service growth target and share repurchases as hardware demand accelerates" (seekingalpha.com, Nov 2025)

Story as of 2026-10-16T09:59:14.437Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in software application; annual sales are USD 4.4 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1974138/000162828026012576/ncr-20251231.htm (filed 2026-02-27); FY2025: revenue 4354000000; grossProfit 1061000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); NATL.US: 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.

### Why customers stay

Margins ranged from 22.3% to 24.4% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2023: grossProfit / revenue = 22.3%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2024: grossProfit / revenue = 23.9%.

- Source: https://www.sec.gov/Archives/edgar/data/1974138/000162828026012576/ncr-20251231.htm (filed 2026-02-27); FY2025: grossProfit / revenue = 24.4%.

### Where the cash goes

Reinvests 5.3% of cash earnings; paid no dividends in 6 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2020: growth capex 0; upkeep 30000000; owner earnings 194000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2021: growth capex 0; upkeep 111000000; cash acquisitions 2346000000; owner earnings 234000000. Growth capex plus acquisitions / owner earnings = 10.025641025641026.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2022: growth capex 0; upkeep 97000000; cash acquisitions 78000000; owner earnings 270000000. Growth capex plus acquisitions / owner earnings = 0.28888888888888886.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2024: growth capex 0; upkeep 139000000; cash acquisitions 0; owner earnings 239000000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1974138/000162828026012576/ncr-20251231.htm (filed 2026-02-27); FY2025: growth capex 0; upkeep 117000000; cash acquisitions 17000000; owner earnings 322000000. Growth capex plus acquisitions / owner earnings = 0.052795031055900624.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); Dividend observations: [[2020,0],[2021,0],[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1974138/000162828026012576/ncr-20251231.htm (filed 2026-02-27); FY2025: cash repurchases 28000000 USD.

### Are managers owners

Insiders own 1.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); NATL.US SharesStats.PercentInsiders = 1.3259999999999998 percentage points; cache date 2026-10-16.

### What the price says

The price is 0.8 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); Closing price 46.06 USD; reporting-to-trading FX 1; FY2025 annual sales per share 57.592592592592595; price multiple 0.7997556270096463. FY2025 cash earnings/share 4.2592592592592595. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2023-10: $22.06 per share

- 2023-11: $22.21 per share

- 2023-12: $24.29 per share

- 2024-01: $22.39 per share

- 2024-02: $21.76 per share

- 2024-03: $19.75 per share

- 2024-04: $19.93 per share

- 2024-05: $27.83 per share

- 2024-06: $27.02 per share

- 2024-07: $32.15 per share

- 2024-08: $28.61 per share

- 2024-09: $28.53 per share

- 2024-10: $26.18 per share

- 2024-11: $32.81 per share

- 2024-12: $33.92 per share

- 2025-01: $31.86 per share

- 2025-02: $28.44 per share

- 2025-03: $26.38 per share

- 2025-04: $27.92 per share

- 2025-05: $26.51 per share

- 2025-06: $28.53 per share

- 2025-07: $30.60 per share

- 2025-08: $39.62 per share

- 2025-09: $39.31 per share

- 2025-10: $36.90 per share

- 2025-11: $37.07 per share

- 2025-12: $38.11 per share

- 2026-01: $37.30 per share

- 2026-02: $44.28 per share

- 2026-03: $43.58 per share

- 2026-04: $44.38 per share

- 2026-05: $44.60 per share

- 2026-06: $43.41 per share

- 2026-07: $47.03 per share

- 2026-08: $45.92 per share

- 2026-09: $45.18 per share

- 2026-10: $46.06 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1974138/000162828026012576/ncr-20251231.htm); period 2025-12-31, filed 2026-02-27.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.