Xerox Holdings Corporation (XRX) Key Metrics
XRX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $324.3M
- Enterprise value
- $4.40B
- P/E (TTM)
- — 10-yr median 13.8
- Forward P/E
- 2.6
- PEG ratio
- 0.20
- Price / sales
- 0.0 10-yr median 0.5
- Price / book
- 1.4 10-yr median 0.9
- EV / EBITDA
- 12.3 10-yr median 9.6
- Dividend yield
- 4.05% $0.10 a year
- Beta
- 2.48
XRX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsXRX valuation Price multiples at each fiscal year-end price.
Price / sales−74.6%
0.0
2025 · hover or tap a bar for each year
20162025
Price / book−43.9%
0.5
2025 · hover or tap a bar for each year
20162025
EV / EBITDA
44.3
2025 · hover or tap a bar for each year
20162025
Price / free cash flow−48.4%
1.2
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+41.8 pts
86.4%
2025 · hover or tap a bar for each year
20162025
XRX returns How much profit the business earns on the capital it uses.
Return on equity−40.3 pts
−105.6%
2025 · hover or tap a bar for each year
20162025
Return on invested capital−3.5 pts
−1.0%
2025 · hover or tap a bar for each year
20162025
Return on assets+3.1 pts
−11.3%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin−3.8 pts
3.7%
2025 · hover or tap a bar for each year
20162025
Asset turnover+14.0%
0.77
2025 · hover or tap a bar for each year
20162025
XRX per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+10.9%
$55.52
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$8.14
2025 · hover or tap a bar for each year
20162025
Free cash flow per share−45.5%
$2.05
2025 · hover or tap a bar for each year
20162025
Book value per share−49.9%
$5.20
2025 · hover or tap a bar for each year
20162025
Dividends per share−50.5%
$0.56
2025 · hover or tap a bar for each year
20162025
Shares outstanding+1.8%
126.5M
2025 · hover or tap a bar for each year
20162025
XRX financial health Debt, liquidity and how easily interest is covered.
Debt / equity+132.1%
6.45
2025 · hover or tap a bar for each year
20162025
Net debt+$723.0M
$3.73B
2025 · hover or tap a bar for each year
20162025
Net debt / EBITDA
41.04
2025 · hover or tap a bar for each year
20162025
Current ratio−0.3%
1.12
2025 · hover or tap a bar for each year
20162025
Interest coverage
-0.2
2025 · hover or tap a bar for each year
20162025
Debt / assets+0.8%
0.43
2025 · hover or tap a bar for each year
20162025
XRX efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−13 days
83 days
2025 · hover or tap a bar for each year
20162025
Days of inventory+3 days
61 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding+1 days
90 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle−11 days
54 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue+0.6 pts
1.3%
2025 · hover or tap a bar for each year
20162025
Dividends + buybacks / FCF−4.5 pts
27.4%
2025 · hover or tap a bar for each year
20162025
XRX valuation history
Fiscal year-endToday10-year median
XRX returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
XRX debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
XRX cash returned to shareholders
DividendsBuybacksFree cash flow
XRX price vs earnings per share
Share price at year-endEPS (right axis)
XRX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $299.7M | $1.05B | $2.73B | $2.28B | $4.15B | $4.90B | $8.18B | $4.97B | $7.48B | $5.89B |
| Enterprise value | $4.03B | $4.06B | $5.67B | $5.19B | $6.84B | $7.06B | $9.73B | $9.12B | $11.70B | $9.98B |
| P/E ratio | — | — | — | — | — | 25.5 | 12.7 | 13.8 | 38.4 | 9.6 |
| Price / sales | 0.0 | 0.2 | 0.4 | 0.3 | 0.6 | 0.7 | 0.9 | 0.5 | 0.7 | 0.5 |
| Price / book | 0.5 | 0.8 | 1.0 | 0.6 | 0.9 | 0.8 | 1.4 | 1.0 | 1.4 | 1.2 |
| Price / free cash flow | 1.2 | 2.2 | 4.2 | 22.3 | 7.4 | 10.3 | 6.5 | 4.7 | — | 6.7 |
| Price / operating cash flow | 0.9 | 2.0 | 4.0 | 14.3 | 6.6 | 8.9 | 6.1 | 4.4 | 220.0 | 5.8 |
| EV / sales | 0.6 | 0.7 | 0.8 | 0.7 | 1.0 | 1.0 | 1.1 | 0.9 | 1.1 | 0.9 |
| EV / EBITDA | 44.3 | — | — | 144.1 | — | 9.9 | 7.1 | 7.4 | 9.6 | 7.6 |
| EV / free cash flow | 15.6 | 8.7 | 8.7 | 50.9 | 12.2 | 14.9 | 7.7 | 8.7 | — | 11.3 |
| Earnings yield | −343.3% | −126.2% | −0.5% | −14.1% | −11.0% | 3.9% | 7.9% | 7.3% | 2.6% | 10.5% |
| Free cash flow yield | 86.4% | 44.6% | 23.7% | 4.5% | 13.5% | 9.7% | 15.5% | 21.1% | −0.9% | 14.9% |
| Dividend yield | 23.7% | 13.5% | 6.0% | 7.6% | 5.0% | 4.7% | 3.0% | 5.4% | 3.9% | 5.6% |
| Shareholder yield (dividends + buybacks) | 23.7% | 14.2% | 25.9% | 12.6% | 26.4% | 10.8% | 10.3% | 19.5% | 4.1% | 5.6% |
| Share price at fiscal year-end | $2.37 | $8.43 | $18.33 | $14.60 | $22.64 | $23.19 | $36.87 | $19.76 | $29.15 | $23.00 |
| Per share | ||||||||||
| Revenue per share | $55.52 | $50.08 | $46.18 | $45.56 | $38.42 | $33.21 | $40.84 | $39.06 | $40.01 | $42.08 |
| Earnings per share | −$8.14 | −$10.64 | −$0.09 | −$2.06 | −$2.48 | $0.91 | $2.90 | $1.43 | $0.76 | $2.41 |
| Operating cash flow per share | $2.77 | $4.11 | $4.60 | $1.02 | $3.43 | $2.59 | $6.01 | $4.53 | $0.13 | $3.98 |
| Free cash flow per share | $2.05 | $3.76 | $4.35 | $0.65 | $3.06 | $2.24 | $5.71 | $4.17 | −$0.28 | $3.44 |
| Cash per share | $4.05 | $4.64 | $3.48 | $6.70 | $10.05 | $12.42 | $12.34 | $4.31 | $5.04 | $8.68 |
| Book value per share | $5.20 | $10.39 | $18.46 | $22.80 | $24.22 | $27.46 | $26.21 | $20.74 | $21.32 | $19.60 |
| Tangible book value per share | −$19.43 | −$7.59 | −$1.61 | $2.78 | $4.47 | $6.53 | $7.74 | $4.50 | $4.96 | $3.67 |
| Dividends per share | $0.56 | $1.14 | $1.11 | $1.12 | $1.12 | $1.09 | $1.09 | $1.07 | $1.13 | $1.29 |
| Capex per share | $0.72 | $0.35 | $0.25 | $0.37 | $0.37 | $0.35 | $0.29 | $0.36 | $0.41 | $0.54 |
| Debt per share | $33.58 | $28.89 | $23.20 | $25.35 | $24.76 | $22.64 | $19.31 | $20.78 | $21.50 | $24.67 |
| Shares outstanding | 126.5M | 124.2M | 149.1M | 156.0M | 183.2M | 211.4M | 222.0M | 251.7M | 256.6M | 256.0M |
| Change in shares outstanding | +1.8% | −16.7% | −4.4% | −14.8% | −13.4% | −4.7% | −11.8% | −1.9% | +0.2% | −4.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −105.6% | −65.4% | −0.4% | −8.1% | −8.9% | 3.3% | 11.7% | 6.8% | 3.7% | 8.5% |
| Return on invested capital (ROIC) | −1.0% | 2.5% | −0.4% | 2.5% | 3.3% | 2.9% | 13.0% | 6.5% | 5.0% | 8.4% |
| Return on assets (ROA) | −11.3% | −14.4% | −0.1% | −2.6% | −3.3% | 1.3% | 4.3% | 2.3% | 1.1% | 2.9% |
| Return on tangible assets | −15.3% | −21.5% | −0.2% | −3.8% | −4.7% | 1.9% | 5.9% | 3.3% | 1.7% | 4.4% |
| Free cash flow margin | 3.7% | 7.5% | 9.4% | 1.4% | 8.0% | 6.8% | 14.0% | 10.7% | −0.7% | 8.2% |
| Income quality (OCF / net income) | — | — | — | — | — | 2.85 | 2.07 | 3.16 | 0.17 | 1.65 |
| Financial health | ||||||||||
| Total debt | $4.25B | $3.59B | $3.46B | $3.96B | $4.54B | $4.79B | $4.29B | $5.23B | $5.52B | $6.32B |
| Cash & short-term investments | $512.0M | $576.0M | $519.0M | $1.04B | $1.84B | $2.62B | $2.74B | $1.08B | $1.29B | $2.22B |
| Net debt | $3.73B | $3.01B | $2.94B | $2.91B | $2.70B | $2.16B | $1.55B | $4.15B | $4.22B | $4.09B |
| Debt / equity | 6.45 | 2.78 | 1.26 | 1.11 | 1.02 | 0.82 | 0.74 | 1.00 | 1.01 | 1.26 |
| Debt / assets | 0.43 | 0.43 | 0.35 | 0.34 | 0.34 | 0.32 | 0.28 | 0.35 | 0.35 | 0.35 |
| Net debt / EBITDA | 41.04 | — | — | 80.83 | — | 3.03 | 1.14 | 3.35 | 3.47 | 3.12 |
| Current ratio | 1.12 | 1.12 | 1.14 | 1.23 | 1.66 | 2.33 | 1.79 | 1.44 | 1.91 | 1.50 |
| Quick ratio | 0.80 | 0.86 | 0.91 | 0.99 | 1.42 | 1.99 | 1.59 | 1.19 | 1.57 | 1.32 |
| Interest coverage | -0.2 | 1.3 | -0.5 | 2.3 | 3.3 | 3.2 | 13.2 | 9.6 | 7.8 | 5.7 |
| Working capital | $379.0M | $316.0M | $398.0M | $777.0M | $1.87B | $3.31B | $2.71B | $1.44B | $2.49B | $2.34B |
| Invested capital | $4.39B | $4.30B | $5.69B | $6.47B | $7.13B | $7.97B | $7.36B | $9.37B | $9.69B | $9.11B |
| Tangible asset value | −$2.44B | −$929.0M | −$220.0M | $454.0M | $835.0M | $1.38B | $1.72B | $1.17B | $1.31B | $978.0M |
| Net current asset value | −$5.54B | −$4.13B | −$4.06B | −$3.86B | −$4.07B | −$3.15B | −$3.10B | −$4.93B | −$5.21B | −$6.10B |
| Graham number | — | — | — | — | — | $23.69 | $41.33 | $25.87 | $19.09 | $32.57 |
| Graham net-net per share | −$54.15 | −$40.51 | −$33.90 | −$32.01 | −$27.89 | −$20.41 | −$19.25 | −$24.53 | −$25.59 | −$37.85 |
| Capital allocation | ||||||||||
| Dividends paid | $71.0M | $141.0M | $165.0M | $174.0M | $206.0M | $230.0M | $243.0M | $269.0M | $291.0M | $331.0M |
| Share buybacks (net) | $0 | $8.0M | $544.0M | $113.0M | $888.0M | $300.0M | $600.0M | $700.0M | $15.0M | $1.0M |
| Dividend payout ratio | — | — | — | — | — | 119.8% | 37.8% | 74.5% | 149.2% | 53.7% |
| Dividends + buybacks / free cash flow | 27.4% | 31.9% | 109.2% | 281.4% | 195.0% | 111.8% | 66.5% | 92.3% | — | 37.7% |
| Capex / revenue | 1.3% | 0.7% | 0.5% | 0.8% | 1.0% | 1.1% | 0.7% | 0.9% | 1.0% | 1.3% |
| Capex / operating cash flow | 26.0% | 8.6% | 5.4% | 35.8% | 10.8% | 13.5% | 4.9% | 7.9% | 308.8% | 13.6% |
| Capex / depreciation | 0.27 | 0.16 | 0.15 | 0.21 | 0.21 | 0.20 | 0.15 | 0.17 | 0.20 | 0.25 |
| Stock-based compensation / revenue | 0.6% | 0.8% | 0.8% | 1.1% | 0.8% | 0.6% | 0.6% | 0.6% | 0.5% | 0.5% |
| R&D / revenue | 3.3% | 3.1% | 3.3% | 4.3% | 4.4% | 3.7% | 4.1% | 4.0% | 4.3% | 4.4% |
| SG&A / revenue | 23.4% | 24.7% | 24.5% | 24.8% | 24.4% | 26.4% | 23.3% | 25.0% | 25.6% | 25.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 82.6 | 95.3 | 101.1 | 102.8 | 105.2 | 119.5 | 102.9 | 100.9 | 68.2 | 60.5 |
| Days of inventory on hand | 61.0 | 58.1 | 59.9 | 56.9 | 60.6 | 61.2 | 50.9 | 53.6 | 51.7 | 50.0 |
| Days payables outstanding | 89.8 | 88.5 | 97.6 | 91.5 | 80.8 | 81.1 | 71.6 | 67.4 | 65.7 | 69.2 |
| Cash conversion cycle (days) | 53.7 | 64.9 | 63.4 | 68.2 | 85.0 | 99.6 | 82.2 | 87.1 | 54.2 | 41.3 |
| Receivables turnover | 4.42 | 3.83 | 3.61 | 3.55 | 3.47 | 3.05 | 3.55 | 3.62 | 5.35 | 6.03 |
| Payables turnover | 4.06 | 4.12 | 3.74 | 3.99 | 4.52 | 4.50 | 5.10 | 5.41 | 5.55 | 5.28 |
| Inventory turnover | 5.99 | 6.28 | 6.09 | 6.42 | 6.02 | 5.96 | 7.16 | 6.81 | 7.07 | 7.30 |
| Asset turnover | 0.77 | 0.68 | 0.64 | 0.57 | 0.50 | 0.47 | 0.61 | 0.64 | 0.60 | 0.50 |
| Average receivables | $1.59B | $1.62B | $1.91B | $2.00B | $2.03B | $2.30B | $2.56B | $2.72B | $1.92B | $1.78B |
| Average payables | $1.26B | $1.03B | $1.19B | $1.20B | $1.03B | $1.02B | $1.06B | $1.09B | $1.12B | $1.23B |
| Average inventory | $855.5M | $678.0M | $729.0M | $746.5M | $769.5M | $768.5M | $756.0M | $866.5M | $878.0M | $891.5M |
| Intangibles / total assets | 31.7% | 26.7% | 29.9% | 27.1% | 27.4% | 30.0% | 27.2% | 27.5% | 26.3% | 22.5% |
Computed from XRX's annual financial statements (latest annual report filed March 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
XRX valuation and financial ratios
Xerox earned a return on equity of −105.6% and a return on invested capital of −1.0% in fiscal 2025. It ended the year with $4.2 billion of debt and $512.0 million in cash and short-term investments, net debt of $3.7 billion. It returned $71.0 million to shareholders: $71.0 million in dividends and $0 in share buybacks, 27% of free cash flow. The share count fell 50.6% from 256.0M to 126.5M over 9 years.
See the XRX income statement, the XRX chart for price history, or the XRX stock overview for the latest quote and news.
XRX key metrics FAQ
What is Xerox's EV/EBITDA?
Xerox's enterprise value was 44.3 times EBITDA at the end of fiscal 2025 (enterprise value $4.0 billion, EBITDA $91.0 million); the current EV/EBITDA is 12.3.
What is Xerox's return on equity?
Xerox's return on equity (ROE) was −105.6% in fiscal 2025: net income of -$1.0 billion on average shareholders' equity of $974.0 million.
What is Xerox's ROIC?
Xerox's return on invested capital was −1.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Xerox have?
Xerox had total debt of $4.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 6.45 and $3.7 billion of net debt (41.04 times EBITDA).
What is Xerox's dividend yield?
Xerox's forward dividend yield is 4.05%. Xerox paid $71.0 million in dividends in fiscal 2025 ($0.56 per share), a payout ratio of —.
What is Xerox's free cash flow yield?
Xerox generated $259.0 million of free cash flow in fiscal 2025, a free cash flow yield of 86.4% on its market value at year-end ($299.7 million).
What is Xerox's current ratio?
Xerox's current ratio was 1.12 at the end of fiscal 2025: current assets were 1.12 times current liabilities.