XRX|Xerox Holdings Corp
Computer Peripheral Equipment, NEC
- Revenue
- $7.0B
- ▲ 13% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $193M
- Employees
- 22,900
- $307K revenue each
- Net debt / EBITDA
- —
- $3.3B net debt
- AI in 10-K
- 1.6
- mentions per 10K words
TSR below peersYes
5 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
$13M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
25% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
23% of assets
Over 40% of assets
Shareholder dissentNo
92% lowest support
Any vote under 80% support
Buyer economics 1 of 4
Low revenue per employeeYes
$307K · 24th pct
Bottom quartile of its SIC industry
Quiet on AINo
1.6 per 10K words · 47th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$193M market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $7.0B | $7.1B | $6.9B | $6.2B | $7.0B | ▲ 13% | |
|---|
| Net income | −$455M | −$322M | $1M | −$1.3B | −$1.0B | ▲ 22% | |
|---|
| Operating cash flow | $629M | $159M | $686M | $511M | $224M | ▼ 56% | |
|---|
| Capex | $29M | $36M | $29M | $27M | $37M | ▲ 37% | |
|---|
| Stock-based comp | $54M | $75M | $54M | $52M | $45M | ▼ 13% | |
|---|
| Buybacks | $888M | $113M | $544M | $8M | $0 | ▼ 100% | |
|---|
| Dividends | $192M | $160M | $151M | $127M | $57M | ▼ 55% | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Sep 8, 2026 | STARTEEPO SICAV a.s. | SCHEDULE 13D/A | 13.9% | Passive |
| Jul 13, 2026 | STARTEEPO Invest, investicni fond s promennym zakladnim kapitalem, a.s. | SCHEDULE 13D/A | 12.4% | Active |
| Jun 3, 2026 | STARTEEPO Invest, investicni fond s promennym zakladnim kapitalem, a.s. | SCHEDULE 13D/A | 5.0% | Passive |
| May 14, 2026 | STARTEEPO Invest, investicni fond s promennym zakladnim kapitalem, a.s. | SCHEDULE 13D | 9.1% | Passive |
| Apr 8, 2026 | DD Revocable Trust | SCHEDULE 13D | 11.3% | Passive |
| Apr 8, 2026 | DEASON DOUGLAS R | SCHEDULE 13D | 11.3% | Passive |
| Feb 13, 2026 | DEASON DARWIN | SCHEDULE 13D/A | 9.1% | Passive |
| Oct 2, 2023 | DEASON DARWIN | SC 13D/A | 11.8% | Active |
| Sep 29, 2023 | ICAHN CARL C | SC 13D/A | 0.0% | Passive |
| Apr 25, 2022 | ICAHN CARL C | SC 13D/A | 21.9% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|
| FY2025 | $13M | −$1K | 14 | 197 |
| FY2024 | $14M | −$376K | 47 | 155 |
| FY2023 | — | $14M | 94 | 113 |
| FY2022 | — | — | 70 | 79 |
| FY2021 | $12M | $6M | 102 | 117 |