Xerox Holdings Corp Stock Research

Market Summary

USD14.63+0.07

Market Closed

0.48%

XRX Alerts

Big jump in Earnings (Y/Y)

XRX Stock Price

XRX RSI Chart

XRX Valuation

Market Cap

2.3B

Price/Earnings (Trailing)

-7.08

Price/Sales (Trailing)

0.32

EV/EBITDA

28.47

Price/Free Cashflow

17.95

XRX Price/Sales (Trailing)

XRX Profitability

EBT Margin

-4.62%

Return on Equity

-9.63%

Return on Assets

-2.79%

Free Cashflow Yield

5.57%

XRX Fundamentals

XRX Revenue

Revenue (TTM)

7.1B

Revenue Y/Y

9.23%

Revenue Q/Q

10.85%

XRX Earnings

Earnings (TTM)

-322.0M

Earnings Y/Y

117.93%

Earnings Q/Q

131.59%

Price Action

52 Week Range

11.8020.20

(Low)(High)

Last 7 days

-3.7%

Last 30 days

-10.0%

Last 90 days

0.1%

Trailing 12 Months

-24.0%

XRX Financial Health

Current Ratio

1.23

Debt/Equity

0.86

Debt/Cashflow

0.06

XRX Investor Care

Dividend Yield

6.84%

Dividend/Share (TTM)

Buy Backs (1Y)

2.27%

Diluted EPS (TTM)

-2.15

Peers (Alternatives to Xerox Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.5T	387.5B	7.62%	-7.52%	26.68	6.55	2.44%	-5.35%
HPQ	27.3B	59.8B	-4.68%	-27.60%	10.49	0.46	-7.84%	-60.07%
NTAP	13.1B	6.5B	-7.25%	-27.70%	10.15	2.02	4.33%	27.27%
WDC	11.2B	15.8B	-10.89%	-30.18%	-120.95	0.71	-16.84%	-104.67%
MID-CAP
JNPR	10.6B	5.3B	4.48%	-7.74%	22.4	1.99	11.95%	86.39%
LOGI	8.6B	4.8B	-1.81%	-31.10%	19.92	1.79	-16.90%	-43.41%
PSTG	7.2B	2.7B	-18.26%	-33.47%	528.27	2.7	34.27%	106.43%
SMCI	5.9B	6.6B	27.82%	160.72%	10.23	0.89	59.38%	362.85%
NCR	3.0B	7.8B	-16.50%	-46.84%	50.28	0.38	9.61%	-38.14%
XRX	2.3B	7.1B	-9.97%	-24.02%	-7.08	0.32	0.98%	29.23%
SMALL-CAP
DDD	1.3B	556.2M	-5.24%	-37.58%	-12.78	2.38	-12.75%	-133.51%
IMMR	260.2M	38.5M	14.14%	48.62%	8.49	6.77	9.61%	145.63%
ALOT	87.2M	132.4M	-4.80%	-18.49%	161.4	0.66	12.93%	-93.27%
DBD	64.4M	3.6B	-72.46%	-88.58%	-0.14	0.02	-10.12%	-413.74%
TACT	61.6M	51.3M	-7.99%	-13.61%	-8.89	1.2	42.41%	-31.94%

Financials for Xerox Holdings

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	2.4%	7,107,000,000	6,943,000,000	6,950,000,000	6,996,000,000	7,038,000,000
S&GA Expenses	0.3%	1,760,000,000	1,755,000,000	1,750,000,000	1,725,000,000	1,718,000,000
R&D Expenses	-1.9%	304,000,000	310,000,000	319,000,000	314,000,000	310,000,000
Costs and Expenses	-8.5%	7,435,000,000	8,128,000,000	7,671,000,000	7,613,000,000	7,513,000,000
EBITDA	120.6%	144,000,000	-700,000,000	-219,000,000	-96,000,000	-
EBITDA Margin	120.1%	0.02	-0.10	-0.03	-0.01	-
Earnings Before Taxes	72.3%	-328,000,000	-1,185,000,000	-721,000,000	-617,000,000	-475,000,000
EBT Margin	73.0%	-0.05	-0.17	-0.10	-0.09	-
Interest Expenses	-1.5%	202,000,000	205,000,000	208,000,000	207,000,000	-
Net Income	71.2%	-322,000,000	-1,118,000,000	-645,000,000	-550,000,000	-455,000,000
Net Income Margin	71.9%	-0.05	-0.16	-0.09	-0.08	-
Free Cahsflow	-8.6%	127,000,000	139,000,000	243,000,000	545,000,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	1.1%	11,543	11,420	12,270	13,082	13,223
Current Assets	5.4%	4,107	3,895	4,102	4,566	4,701
Cash Equivalents	12.1%	1,045	932	1,151	1,681	1,840
Inventory	2.6%	797	777	765	732	696
Net PPE	-4.4%	216	226	254	253	-
Goodwill	2.4%	2,820	2,753	3,200	3,300	3,287
Liabilities	0.3%	7,966	7,942	8,164	8,669	8,556
Current Liabilities	-0.4%	3,330	3,343	3,415	3,769	2,829
Long Term Debt	7.1%	2,866	2,676	2,764	2,821	3,596
LT Debt, Current	-	650	-	-	-	-
Shareholder's Equity	3.1%	3,343	3,243	3,882	4,189	4,436
Retained Earnings	1.6%	5,136	5,057	5,484	5,532	5,631
Additional Paid-In Capital	0.7%	1,588	1,577	1,564	1,560	1,802
Accumulated Depreciation	-3.7%	926	962	1,002	1,013	-
Shares Outstanding	0.1%	156	156	155	155	159
Minority Interest	-9.1%	10.00	11.00	9.00	5.00	7.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-7.0%	159	171	279	578	629
Share Based Compensation	2.7%	75.00	73.00	74.00	53.00	54.00
Cashflow From Investing	38.1%	-78.00	-126	-75.00	-143	-85.00
Cashflow From Financing	35.4%	-822	-1,272	-1,150	-1,141	-1,310
Dividend Payments	-3.3%	174	180	186	198	206
Buy Backs	-77.4%	113	501	588	839	888

Risks for XRX

What is the probability of a big loss on XRX?

87.7%

Probability that Xerox Holdings stock will be more than 20% underwater in next one year

60.8%

Probability that Xerox Holdings stock will be more than 30% underwater in next one year.

25%

Probability that Xerox Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does XRX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Xerox Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for XRX

Cumulative Returns on XRX

-1.4%

10-Year Cumulative Returns

-5.7%

7-Year Cumulative Returns

-8.9%

5-Year Cumulative Returns

-1.2%

3-Year Cumulative Returns

What are the long-term rolling returns for XRX?

FIve years rolling returns for Xerox Holdings.

Annualized Returns

Which funds bought or sold XRX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	23.14	596,095	2,187,100	-%
2023-03-06	Rockefeller Capital Management L.P.	added	1.32	37,000	313,000	-%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	5,154	5,154	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	65,231	629,231	-%
2023-02-27	Parallax Volatility Advisers, L.P.	reduced	-96.55	-27,876	1,124	-%
2023-02-27	ST GERMAIN D J CO INC	new	-	350	350	-%
2023-02-24	NATIXIS	sold off	-100	-756,000	-	-%
2023-02-24	SRS Capital Advisors, Inc.	new	-	540	540	-%
2023-02-22	CVA Family Office, LLC	reduced	-71.61	-30,736	14,264	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	reduced	-23.39	-45,000	263,000	-%

Latest Funds Activity

Are funds buying XRX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own XRX

No. of Funds

XRX Alerts

Big jump in Earnings (Y/Y)

Xerox Holdings News

Schedule 13G FIlings of Xerox Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	8.47%	13,116,464	SC 13G/A
Feb 01, 2023	blackrock inc.	9.2%	14,336,874	SC 13G/A
Apr 25, 2022	icahn carl c	9.11%	14,246,924	SC 13D/A
Feb 08, 2022	blackrock inc.	7.9%	14,183,558	SC 13G
May 03, 2021	deason darwin	7.7%	15,283,657	SC 13D/A
Apr 30, 2021	icahn carl c	6.74%	12,936,896	SC 13D/A
Mar 08, 2021	icahn carl c	6.51%	12,936,896	SC 13D/A
Mar 02, 2021	icahn carl c	6.34%	12,585,800	SC 13D/A
Feb 25, 2021	icahn carl c	6.32%	12,534,516	SC 13D/A
Feb 10, 2021	vanguard group inc	8.96%	17,782,370	SC 13G/A

XRX Fair Value

Xerox Holdings fair value in different scenarios

The table shows the Fair Value estimates for Xerox Holdings for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	19.17 31.03%	23.14 58.17%	33.24 127.20%	41.58 184.21%	47.12 222.08%
Current Inflation	18.56 26.86%	22.26 52.15%	31.59 115.93%	39.03 166.78%	44.01 200.82%
Very High Inflation	17.74 21.26%	21.12 44.36%	29.47 101.44%	35.81 144.77%	40.10 174.09%

Historical Xerox Holdings Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Xerox Holdings

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	8-K	Current Report
Mar 02, 2023	4	Insider Trading
Feb 23, 2023	10-K	Annual Report
Feb 21, 2023	4/A	Insider Trading
Feb 21, 2023	4/A	Insider Trading
Feb 10, 2023	SC 13G	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 07, 2023	4	Insider Trading
Feb 03, 2023	4	Insider Trading
Feb 01, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for XRX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-28	Heiss Xavier	sold (taxes)	-16,951	16.49	-1,028	evp and cfo
2023-02-03	Collins Smee Joanne	sold (taxes)	-10,701	16.96	-631	executive vice president
2023-02-01	Gueden Jacques-Edouard	sold (taxes)	-51,937	16.7	-3,110	executive vice president
2023-01-19	BANDROWCZAK STEVEN JOHN	acquired	-	-	63,861	chief executive officer
2023-01-19	Morno-Wade Suzan	acquired	-	-	16,622	evp and chro
2023-01-19	Shanker Naresh	acquired	-	-	17,497	svp, chief technology officer
2023-01-19	Collins Smee Joanne	acquired	-	-	20,996	executive vice president
2023-01-19	Heiss Xavier	acquired	-	-	34,993	evp and cfo
2023-01-19	PASTOR LOUIS	acquired	-	-	27,119	evp, ccdo and clo

About Xerox Holdings

John Visentin

www.xerox.com

23300

Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services. The company also provides graphic communications and production solutions; and IT services, end user computing devices, network infrastructure, communications technology, and a range of managed IT solutions, such as technology product support, professional engineering, and commercial robotic process automation. In addition, it provides FreeFlow a portfolio of software solutions for the automation and integration to the processing of print job comprises file preparation, final production, and electronic publishing; XMPie, a personalization and communication software that support the needs of omni-channel communications customers; DocuShare, a content management platform to capture, store, and share paper and digital content; and CareAR, an enterprise augmented reality business. Further, the company sells paper products and wide-format systems. The company sells its products and services directly to its customers through its direct sales force, as well as through independent agents, dealers, value-added resellers, systems integrators, and e-commerce marketplaces. Xerox Holdings Corporation was founded in 1906 and is headquartered in Norwalk, Connecticut.

XRX Income Statement

2022-12-31

Xerox Holdings Corporation Consolidated Statements of (Loss) Income - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Total Revenues		$ 7,107	$ 7,038	$ 7,022
Costs and Expenses
Cost of financing		108	111	121
Research, development and engineering expenses		304	310	311
Selling, administrative and general expenses		1,760	1,718	1,851
Goodwill impairment	$ 412	412	781	0
Restructuring and related costs, net		65	38	93
Amortization of intangible assets		42	55	56
Transaction and related costs, net		0	0	18
Other expenses, net		63	(24)	45
Total Costs and Expenses		7,435	7,513	6,770
(Loss) Income before Income Taxes and Equity Income		(328)	(475)	252
Income tax (benefit) expense		(3)	(17)	64
Equity in net income of unconsolidated affiliates		3	3	4
Net (Loss) Income		(322)	(455)	192
Less: Net Income attributable to noncontrolling interests		0	0	0
Net (Loss) Income Attributable to Xerox Holdings		$ (322)	$ (455)	$ 192
Basic (Loss) Earnings per Share (in dollars per share)		$ (2.15)	$ (2.56)	$ 0.85
Diluted earnings per share (in dollars per share)		$ (2.15)	$ (2.56)	$ 0.84
Sales
Revenues
Total Revenues		$ 2,800	$ 2,582	$ 2,449
Costs and Expenses
Cost of goods and services sold		2,002	1,862	1,742
Services, maintenance and rentals
Revenues
Total Revenues		4,100	4,235	4,347
Costs and Expenses
Cost of goods and services sold		2,679	2,662	2,533
Financing
Revenues
Total Revenues		$ 207	$ 221	$ 226

XRX Balance Sheet

2022-12-31

Xerox Holdings Corporation Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 1,045	$ 1,840
Accounts receivable (net of allowance of $52 and $58, respectively)	857	818
Billed portion of finance receivables (net of allowance of $4 and $4, respectively)	93	94
Finance receivables, net	1,061	1,042
Inventories	797	696
Other current assets	254	211
Total current assets	4,107	4,701
Finance receivables due after one year (net of allowance of $113 and $114, respectively)	1,948	1,934
Equipment on operating leases, net	235	253
Land, buildings and equipment, net	320	358
Intangible assets, net	208	211
Goodwill, net	2,820	3,287
Deferred tax assets	582	519
Other long-term assets	1,323	1,960
Total Assets	11,543	13,223
Liabilities and Equity
Short-term debt and current portion of long-term debt	860	650
Accounts payable	1,331	1,069
Accrued compensation and benefits costs	258	239
Accrued expenses and other current liabilities	881	871
Total current liabilities	3,330	2,829
Long-term debt	2,866	3,596
Pension and other benefit liabilities	1,175	1,373
Post-retirement medical benefits	184	277
Other long-term liabilities	411	481
Total Liabilities	7,966	8,556
Commitments and Contingencies (See Note 20)
Noncontrolling Interests (See Note 6)	10	10
Convertible Preferred Stock	214	214
Common stock	156	168
Additional paid-in capital	1,588	1,802
Treasury stock, at cost	0	(177)
Retained earnings	5,136	5,631
Accumulated other comprehensive loss	(3,537)	(2,988)
Xerox Holdings shareholders’ equity	3,343	4,436
Noncontrolling interests	10	7
Total Equity	3,353	4,443
Total Liabilities and Equity	$ 11,543	$ 13,223
Shares of common stock issued (in shares)	155,781	168,069
Treasury stock (in shares)	0	(8,675)
Shares of Common Stock Outstanding (in shares)	155,781	159,394