NATL on NYSE

NCR Atleos Corp

American calculating and accounting machines company based in Germantown.

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Last updated Oct 18, 2026.

Overview

Compare with Diebold Nixdorf, NCR Corporation or PAR TECHNOLOGY CORP, or pick any stock.

TickerNATL on NYSE
IndustryCalculating & Accounting Machines (No Electronic Computers)
HeadquartersGermantown, United States
Incorporated inMD²
Business address864 Spring Street Nw, Atlanta, Ga 30308²
Filer categoryLarge accelerated filer²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

11.0%Operating margin³

3.7%Net margin³

1.1%Revenue growth, 2025³

40.2%Return on equity³

6.63×Debt to equity³

$239.0MFree cash flow³

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Recurring revenue brought in 71% of the revenue NCR Atleos Corp broke down this way in fiscal 2025.

Recurring revenue$3.1B³71%down 2% from 2024
All other products and services$1.3B³29%up 8% from 2024

Products and services by year

Products and services	2022	2023	2024	2025
Recurring revenue	$2.8B	$3.0B	$3.1B	$3.1B
All other products and services	$1.3B	$1.2B	$1.2B	$1.3B

Business segments

Self-Service Banking Segments brought in 67% of the revenue NCR Atleos Corp broke down this way in fiscal 2025.

Self-Service Banking Segments$2.9B³67%up 7% from 2024
Network$1.3B³29%down 1% from 2024
T&T$168.0M³4%down 13% from 2024

Business segments by year

Business segments	2022	2023	2024	2025
Self-Service Banking Segments	$2.6B	$2.6B	$2.7B	$2.9B
Network	$1.2B	$1.3B	$1.3B	$1.3B
T&T	$219.0M	$196.0M	$194.0M	$168.0M

Regions

United States brought in 45% of the revenue NCR Atleos Corp broke down this way in fiscal 2025.

United States$2.0B³45%up 1% from 2024
EMEA$1.4B³31%up 3% from 2024
Americas (Excluding United States)$541.0M³12%up 5% from 2024
APJ$488.0M³11%down 7% from 2024

Regions by year

Regions	2022	2023	2024	2025
United States	$1.9B	$1.9B	$1.9B	$2.0B
EMEA	$1.2B	$1.2B	$1.3B	$1.4B
Americas (Excluding United States)	$511.0M	$534.0M	$517.0M	$541.0M
APJ	$524.0M	$511.0M	$525.0M	$488.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Selling, general and adminOther costs

Research and development2¢$70.0M
Selling, general and admin12¢$513.0M
Other costs82¢$3.6B
Income tax1¢$27.0M
Profit4¢$162.0M

Out of $4.4B in revenue.³

Where each dollar of operating cash went, fiscal 2025

Capital spendingKept or used elsewhere

Capital spending33¢$117.0M
Share buybacks8¢$28.0M
Kept or used elsewhere59¢$211.0M

Out of $356.0M of cash from operations.³

Financial statements

Revenue⁴⁵³$4.4B in 2025+23% since 2021

Operating income⁴⁵³$478.0M in 2025+93% since 2021

Net income⁴⁵³$162.0M in 2025−13% since 2021

Every line of the income statement as filed: the last 3 fiscal years (annual) or 4 quarters (quarterly), latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31
Total revenue	$4.4B	$4.3B	$4.2B
Selling, general and administrative expenses	$513.0M	$521.0M	$585.0M
Research and development expenses	$70.0M	$62.0M	$80.0M
Total operating expenses	$3.9B	$3.9B	$3.9B
Income from operations	$478.0M	$437.0M	$263.0M
Loss on extinguishment of debt	$0	-$24.0M	$0
Interest expense	-$270.0M	-$309.0M	-$90.0M
Other (expense) income, net	-$19.0M	$21.0M	-$84.0M
Income before income taxes	$189.0M	$125.0M	$89.0M
Income tax expense	$27.0M	$44.0M	$237.0M
Net income (loss)	$162.0M	$81.0M	-$148.0M
Net income attributable to noncontrolling interests	$0	$1.0M	$2.0M
Net income (loss) attributable to Atleos	$162.0M	$80.0M	-$150.0M
Basic (in dollars per share)	$2.20	$1.11	-$2.12
Diluted (in dollars per share)	$2.14	$1.08	-$2.12
Basic (in shares)	73.5M shares	72.2M shares	70.6M shares
Diluted (in shares)	75.6M shares	74.2M shares	70.6M shares

Period ending	2025-12-31	2025-09-30	2025-06-30	2025-03-31
Total revenue	$1.2B	$1.1B	$1.1B	$979.0M
Selling, general and administrative expenses	$132.0M	$143.0M	$116.0M	$122.0M
Research and development expenses	$18.0M	$18.0M	$17.0M	$17.0M
Total operating expenses	$996.0M	$1.0B	$983.0M	$886.0M
Income from operations	$156.0M	$110.0M	$119.0M	$93.0M
Interest expense	-$66.0M	-$68.0M	-$69.0M	-$67.0M
Other (expense) income, net	-$13.0M	-$9.0M	$7.0M	-$4.0M
Income before income taxes	$77.0M	$33.0M	$57.0M	$22.0M
Income tax expense	-$8.0M	$7.0M	$19.0M	$9.0M
Net income (loss)	$85.0M	$26.0M	$38.0M	$13.0M
Net income attributable to noncontrolling interests	$2.0M	$0	-$1.0M	-$1.0M
Net income (loss) attributable to Atleos	$83.0M	$26.0M	$39.0M	$14.0M
Basic (in dollars per share)	$1.13	$0.35	$0.53	$0.19
Diluted (in dollars per share)	$1.09	$0.34	$0.52	$0.19
Basic (in shares)	73.7M shares	73.7M shares	73.5M shares	73.1M shares
Diluted (in shares)	76.3M shares	76.0M shares	74.9M shares	75.2M shares

Total assets⁴⁵³$5.7B in 2025−2% since 2022

Total liabilities⁴⁵³$5.3B in 2025+110% since 2022

Shareholders’ equity⁴⁵³$403.0M in 2025−55% since 2020

Cash⁴⁵³$456.0M in 2025+168% since 2020

Long-term debt⁵³$2.7B in 2025−9% since 2023

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31	2023-10-31	2022-12-31
Cash and cash equivalents	$456.0M	$419.0M	$339.0M
Accounts receivable, net of allowances of $12 and $15 as of December 31, 2025 and 2024, respectively	$550.0M	$581.0M
Inventories	$342.0M	$307.0M
Restricted cash	$175.0M	$210.0M
Other current assets	$301.0M	$232.0M
Total current assets	$1.8B	$1.7B
Property, plant and equipment, net	$511.0M	$474.0M
Goodwill	$2.0B	$1.9B	$2.0B
Intangibles, net	$498.0M	$550.0M
Operating lease right of use assets	$177.0M	$144.0M
Prepaid pension cost	$259.0M	$227.0M
Deferred income tax assets	$288.0M	$285.0M
Other assets	$153.0M	$156.0M
Total assets	$5.7B	$5.5B
Short-term borrowings	$86.0M	$81.0M
Accounts payable	$617.0M	$564.0M
Payroll and benefits liabilities	$139.0M	$145.0M
Contract liabilities	$383.0M	$328.0M
Settlement liabilities	$184.0M	$171.0M
Other current liabilities	$490.0M	$433.0M
Total current liabilities	$1.9B	$1.7B
Long-term borrowings	$2.7B	$2.9B
Pension and indemnity plan liabilities	$313.0M	$343.0M
Postretirement and postemployment benefits liabilities	$43.0M	$81.0M
Income tax accruals	$24.0M	$37.0M
Operating lease liabilities	$139.0M	$110.0M
Deferred income tax liabilities	$41.0M	$40.0M
Other liabilities	$135.0M	$120.0M
Total liabilities	$5.3B	$5.3B
Preferred stock: par value $0.01 per share, 50.0 shares authorized, no shares issued	$0	$0
Common stock: par value $0.01 per share, 350.0 shares authorized, 73.7 and 72.7 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$1.0M	$1.0M
Paid-in capital	$65.0M	$47.0M
Retained earnings	$299.0M	$188.0M
Accumulated other comprehensive income (loss)	$38.0M	-$17.0M
Total Atleos stockholders equity	$403.0M	$219.0M
Noncontrolling interests in subsidiaries	-$1.0M	$4.0M
Total stockholders equity	$402.0M	$223.0M	$222.0M		$3.2B
Total liabilities and stockholders equity	$5.7B	$5.5B
Allowance for credit loss	$12.0M	$15.0M
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	50.0M shares	50.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares
Common stock, par value (in dollars per share)	$0.01	$0.01		$0.01
Common stock, shares authorized (in shares)	350.0M shares	350.0M shares
Common stock, shares outstanding (in shares)	73.7M shares	72.7M shares
Common stock, shares issued (in shares)	73.7M shares	72.7M shares

Period ending	2025-12-31	2024-12-31	2023-12-31	2023-10-31	2022-12-31
Cash and cash equivalents	$456.0M	$419.0M	$339.0M
Accounts receivable, net of allowances of $12 and $15 as of December 31, 2025 and 2024, respectively	$550.0M	$581.0M
Inventories	$342.0M	$307.0M
Restricted cash	$175.0M	$210.0M
Other current assets	$301.0M	$232.0M
Total current assets	$1.8B	$1.7B
Property, plant and equipment, net	$511.0M	$474.0M
Goodwill	$2.0B	$1.9B	$2.0B
Intangibles, net	$498.0M	$550.0M
Operating lease right of use assets	$177.0M	$144.0M
Prepaid pension cost	$259.0M	$227.0M
Deferred income tax assets	$288.0M	$285.0M
Other assets	$153.0M	$156.0M
Total assets	$5.7B	$5.5B
Short-term borrowings	$86.0M	$81.0M
Accounts payable	$617.0M	$564.0M
Payroll and benefits liabilities	$139.0M	$145.0M
Contract liabilities	$383.0M	$328.0M
Settlement liabilities	$184.0M	$171.0M
Other current liabilities	$490.0M	$433.0M
Total current liabilities	$1.9B	$1.7B
Long-term borrowings	$2.7B	$2.9B
Pension and indemnity plan liabilities	$313.0M	$343.0M
Postretirement and postemployment benefits liabilities	$43.0M	$81.0M
Income tax accruals	$24.0M	$37.0M
Operating lease liabilities	$139.0M	$110.0M
Deferred income tax liabilities	$41.0M	$40.0M
Other liabilities	$135.0M	$120.0M
Total liabilities	$5.3B	$5.3B
Preferred stock: par value $0.01 per share, 50.0 shares authorized, no shares issued	$0	$0
Common stock: par value $0.01 per share, 350.0 shares authorized, 73.7 and 72.7 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$1.0M	$1.0M
Paid-in capital	$65.0M	$47.0M
Retained earnings	$299.0M	$188.0M
Accumulated other comprehensive income (loss)	$38.0M	-$17.0M
Total Atleos stockholders equity	$403.0M	$219.0M
Noncontrolling interests in subsidiaries	-$1.0M	$4.0M
Total stockholders equity	$402.0M	$223.0M	$222.0M		$3.2B
Total liabilities and stockholders equity	$5.7B	$5.5B
Allowance for credit loss	$12.0M	$15.0M
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	50.0M shares	50.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares
Common stock, par value (in dollars per share)	$0.01	$0.01		$0.01
Common stock, shares authorized (in shares)	350.0M shares	350.0M shares
Common stock, shares outstanding (in shares)	73.7M shares	72.7M shares
Common stock, shares issued (in shares)	73.7M shares	72.7M shares

Cash from operations⁴⁵³$356.0M in 2025−21% since 2021

Capital spending⁴⁵³$117.0M in 2025+46% since 2021

Free cash flow⁴⁵³$239.0M in 2025−35% since 2021

Share buybacks³$28.0M in 2025

Every line of the cash flow as filed: the last 3 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	$162.0M	$81.0M	-$148.0M
Depreciation and amortization expense	$277.0M	$287.0M	$254.0M
Stock-based compensation expense	$34.0M	$38.0M	$68.0M
Deferred income taxes	-$1.0M	-$19.0M	$74.0M
(Gain) loss on divestiture and disposal of assets, net	-$32.0M	$2.0M	$3.0M
Bargain purchase gain from acquisition	$0	-$5.0M	$0
Loss from equity investments	$2.0M	$3.0M	$0
Loss on extinguishment of debt	$0	$24.0M	$0
Receivables	$36.0M	$106.0M	-$50.0M
Inventories	-$97.0M	-$77.0M	$53.0M
Current payables and accrued expenses	$49.0M	$100.0M	$140.0M
Contract liabilities	$59.0M	$0	$2.0M
Employee benefit plans	-$51.0M	-$69.0M	-$170.0M
Settlement assets and liabilities, net	$8.0M	-$49.0M	$2.0M
Net cash provided by operating activities	$356.0M	$344.0M	$355.0M
Capital expenditures	-$117.0M	-$87.0M	-$108.0M
Additions to capitalized software	-$39.0M	-$39.0M	-$24.0M
Business acquisitions, net of cash acquired	-$17.0M	$0	-$1.0M
Purchase of intellectual property	$0	-$13.0M	$0
Proceeds from sale of property, plant and equipment	$45.0M	$0	$0
Proceeds from divestiture	$11.0M	$1.0M	$0
Sale (purchase) of investments, net	$1.0M	$4.0M	-$10.0M
Amounts advanced for related party notes receivable	$0	$0	-$217.0M
Repayments received from related party notes receivable	$0	$0	$44.0M
Other investing activities, net	$0	-$1.0M	$0
Net cash (used in) investing activities	-$116.0M	-$135.0M	-$316.0M
Proceeds from related party borrowings	$0	$0	$412.0M
Payments on related party borrowings	$0	$0	-$314.0M
Proceeds from issuance of senior secured notes	$0	$0	$1.3B
Borrowings on term credit facilities	$11.0M	$300.0M	$1.6B
Payments on term credit facilities	-$109.0M	-$473.0M	$0
Borrowings on revolving credit facilities	$965.0M	$1.1B	$330.0M
Payments on revolving credit facilities	-$1.1B	-$1.0B	-$175.0M
Payments on other financing arrangements	-$3.0M	-$3.0M	-$1.0M
Debt issuance costs	$0	-$2.0M	-$51.0M
Call premium paid on debt extinguishments	$0	-$7.0M	$0
Principal payments for finance lease obligations	-$5.0M	-$4.0M	-$1.0M
Tax withholding payments on behalf of employees	-$19.0M	-$14.0M	-$7.0M
Proceeds from employee stock plans	$11.0M	$4.0M	$0
Payments on acquisition holdback	-$16.0M	-$5.0M	$0
Repurchases of common stock	-$28.0M	$0	$0
Net transfers to NCR Corporation	$0	$0	-$60.0M
Consideration paid to NCR Corporation in connection with the Separation	$0	$0	-$3.0B
Other financing activities	$5.0M	$0	$0
Net cash (used in) provided by financing activities	-$253.0M	-$134.0M	$31.0M
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$16.0M	-$20.0M	$17.0M
Increase in cash, cash equivalents and restricted cash	$3.0M	$55.0M	$87.0M

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Leadership

Who has led NCR Atleos Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

Timothy Charles Oliver2023–now

President

Timothy Charles Oliver2023–now

Chief financial officer

Chief operating officer

Stuart Mackinnon2023–now

2025

Chief executive officerTimothy Charles Oliver Oct 18, 2023 to now⁸
PresidentTimothy Charles Oliver Oct 18, 2023 to now⁸
Chief financial officerR. Andrew Wamser Jr. Feb 5, 2025 to now⁹
Chief financial officerPaul J. Campbell Oct 25, 2023 to Aug 20, 2024¹⁰
Chief operating officerStuart Mackinnon Oct 18, 2023 to now¹¹

Board members and other officers (16)

Chief Human Resources OfficerAndrea Richards Burson Feb 5, 2025 to now¹²
Chief Accounting OfficerTraci Hornfeck Apr 1, 2025 to now¹³
Vice PresidentAndrew R. Duvall Aug 11, 2023 to now¹⁴
OfficerTimothy Charles Oliver Aug 11, 2023 to Aug 11, 2023¹⁵
Vice PresidentVladimir Samoylenko Aug 11, 2023 to Aug 11, 2023¹⁶
Chief Human Resources OfficerLashawne Meriwether Oct 25, 2023 to Feb 21, 2024¹⁷
Board memberDuncan L. Niederauer May 22, 2025 to now¹⁸
Board memberJoseph E. Reece Oct 18, 2023 to now¹⁹
Board memberMark W. Begor Oct 18, 2023 to now²⁰
Board memberTimothy Charles Oliver Oct 18, 2023 to now⁸
Board memberFrank A. Natoli Oct 25, 2023 to now²¹
Board memberGillern Jeffry H. Von Oct 25, 2023 to now²²
Board memberMary Ellen Baker Oct 25, 2023 to now²³
Board memberMichelle M. Frymire Oct 25, 2023 to now²⁴
Board memberOdilon Almeida Oct 25, 2023 to now²⁵
General counselRicardo J. Nunez Oct 19, 2023 to now²⁶

Former names

NCR Atleos, LLCJun 6, 2023 to Oct 10, 2023²
NCR ATMCo, LLCMay 10, 2023 to Jul 21, 2023²

Timeline

Oct 18, 2023New chief executive Timothy Charles Oliver becomes CEO⁸
Oct 6, 2023Founded NCR Atleos Corp is founded²⁷

Filings

258 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 46 major events, 126 insider forms, 13 large holders, 59 other. The latest 20:

Oct 2, 20264 EDGAR
Oct 2, 20264 EDGAR
Aug 12, 2026SCHEDULE 13G EDGAR
Aug 5, 202610-Q EDGAR
Aug 5, 20268-K EDGAR
Jul 1, 20264 EDGAR
Jun 30, 20268-K EDGAR
Jun 18, 2026425 EDGAR
Jun 18, 20268-K EDGAR
Jun 18, 2026425 EDGAR
May 27, 2026DEFM14A EDGAR
May 26, 20264 EDGAR
May 26, 20264 EDGAR
May 26, 20264 EDGAR
May 26, 20264 EDGAR
May 26, 20264 EDGAR
May 26, 20264 EDGAR
May 21, 20268-K EDGAR
May 12, 2026425 EDGAR
May 7, 202610-Q EDGAR

The 258 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 13 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
BlackRock, Inc.	10,823,638	$469.9M	0.0%	+242,664
Vanguard Portfolio Management LLC	4,284,704	$186.0M	0.0%	+57,482
Bank Of America Corp /de/	3,967,979	$172.2M	0.0%	+2,106,546
Vanguard Capital Management LLC	3,320,280	$144.1M	0.0%	+5,159
State Street Corp	2,952,190	$128.2M	0.0%	+125,928
Engine Capital Management, LP	2,581,525	$112.1M	10.9%	No change
Alliancebernstein L.P.	2,289,210	$99.8M	0.0%	+1,170,688
Goldman Sachs Group Inc	2,094,272	$90.9M	0.0%	+869,630
Geode Capital Management, LLC	2,082,141	$90.4M	0.0%	+324,547
Fuller & Thaler Asset Management, Inc.	2,011,636	$87.3M	0.2%	−102,782
Dimensional Fund Advisors LP	1,735,877	$75.3M	0.0%	+99,794
Alta Fox Capital Management, LLC	1,560,889	$67.8M	13.6%	No change
Citigroup Inc	1,340,611	$58.2M	0.0%	+452,848
Millennium Management LLC	1,143,132	$49.6M	0.0%	+648,443
Man Group plc	1,138,646	$49.4M	0.1%	+728,646
AQR Arbitrage LLC	1,148,113	$49.2M	0.8%	+363,877
Charles Schwab Investment Management Inc	1,121,928	$48.7M	0.0%	−112,169
Coliseum Capital Management, LLC	1,071,128	$46.5M	4.0%	−453,597
Soros Fund Management LLC	1,033,562	$44.9M	0.7%	+303,213
Hudson Bay Capital Management LP	992,914	$43.1M	0.2%	New
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	917,919	$39.8M	0.0%	+180,139
Victory Capital Management Inc	905,527	$39.3M	0.0%	−710,231
TIG Advisors, LLC	831,361	$36.1M	1.7%	New
Northern Trust Corp	820,453	$35.6M	0.0%	−11,943
Morgan Stanley	701,547	$30.5M	0.0%	−177,120

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARNCR Atleos Corp filings on SEC EDGAR
2
SEC EDGARNCR Atleos Corp filings on SEC EDGAR
3
SEC EDGARNCR Atleos Corp 10-K for fiscal 2025
4
SEC EDGARNCR Atleos Corp 10-K for fiscal 2021
5
SEC EDGARNCR Atleos Corp 10-K for fiscal 2022
6
SEC EDGARNCR Atleos Corp 10-Q for fiscal 2026
7
SEC EDGARNCR Atleos Corp 10-Q for fiscal 2026
8
SEC EDGARTimothy Charles Oliver, Chief executive officer
9
SEC EDGARR. Andrew Wamser Jr., Chief financial officer
10
SEC EDGARPaul J. Campbell, Chief financial officer
11
SEC EDGARStuart Mackinnon, Chief operating officer
12
SEC EDGARAndrea Richards Burson, Chief Human Resources Officer
13
SEC EDGARTraci Hornfeck, Chief Accounting Officer
14
SEC EDGARAndrew R. Duvall, Vice President
15
SEC EDGARTimothy Charles Oliver, Officer
16
SEC EDGARVladimir Samoylenko, Vice President
17
SEC EDGARLashawne Meriwether, Chief Human Resources Officer
18
SEC EDGARDuncan L. Niederauer, Board member
19
SEC EDGARJoseph E. Reece, Board member
20
SEC EDGARMark W. Begor, Board member
21
SEC EDGARFrank A. Natoli, Board member
22
SEC EDGARGillern Jeffry H. Von, Board member
23
SEC EDGARMary Ellen Baker, Board member
24
SEC EDGARMichelle M. Frymire, Board member
25
SEC EDGAROdilon Almeida, Board member
26
SEC EDGARRicardo J. Nunez, General counsel
27
gleifNCR Atleos Corp is founded