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NCR Atleos (NATL) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · NCR Atleos (NATL) Q3 2026 earnings results →

Q3 2026 Revenue down 2% year over year to $1.1B · 9¢ of every $1 of revenue kept as net profit · operating margin 16.7%

NCR Atleos made $1.1B in Q3 2026 (-2% Y/Y): Recurring revenue $782M, All other products and services $317M. Operating margin 16.7%, net earnings $97.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$1.1B
Year over year-2%
Operating margin16.7%
Net earnings$97.0M
Operating cash flow$198M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.1B in Q3 2026, down 2% year over year and roughly flat from the previous quarter. Recurring revenue was the largest line at 71% of revenue. All other products and services lost $0.02B year over year (down 6%), 95% of the total change.

Operating profit was $0.18B, a 16.7% margin (up 6.8 points year over year). Total costs fell 9% while revenue fell 2%. Net earnings were $0.10B, up 273% year over year. The effective tax rate was 24.8%.

Operating cash flow was $0.20B (up 633% year over year), 204% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.02B. Capital expenditures of $0.05B left free cash flow of $0.15B.

Quarterly history

NCR Atleos revenue by quarterNCR Atleos revenue by quarter$979MQ1 2025$1.1BQ2 2025$1.1BQ3 2025$1.2BQ4 2025$1.0BQ1 2026$1.1BQ2 2026$1.1BQ3 2026
NCR Atleos net earnings by quarterNCR Atleos net earnings by quarter$17.0MQ1 2025$45.0MQ2 2025$26.0MQ3 2025$83.0MQ4 2025$22.0MQ1 2026$65.0MQ2 2026$97.0MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$1.1B-2%16.7%$97.0M$198M
Q2 202610-QAug 5, 2026$1.1B+0.1%14.1%$65.0M$30.0M
Q1 202610-QMay 7, 2026$1.0B+6%8.1%$22.0M−$9.0M
Q4 202510-KFeb 27, 2026$1.2B+4%13.5%$83.0M$231M
Q3 202510-QNov 6, 2025$1.1B+4%9.8%$26.0M$27.0M
Q2 202510-QAug 7, 2025$1.1B+2%10.8%$45.0M−$25.0M
Q1 202510-QMay 8, 2025$979M-6%9.5%$17.0M$123M

Charts

NCR Atleos: revenue growth, year over year and quarter over quarterNCR Atleos: revenue growth, year over year and quarter over quarterY/YQ/Q-6%Q1 2025+2%+13%Q2 2025+4%+2%Q3 2025+4%+3%Q4 2025+6%-9%Q1 2026+0%+6%Q2 2026-2%0%Q3 2026
Latest (Q3 2026): Y/Y -2%, Q/Q 0%.
NCR Atleos: where the cash came from (+) and went (−), TTM to Q3 2026NCR Atleos: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$450MNet borrowing (+) / repaid (−)−$347MCapital spending−$141MCash drawn (+) / kept (−)$96.0MAsset & business sales$45.0MBuybacks−$44.0MOther investing−$33.0MTaxes on employees’ shares−$19.0MOther financing−$12.0MShares issued$4.0MExchange rates$2.0MAcquisitions−$1.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
NCR Atleos: profit against cash, quarter by quarterNCR Atleos: profit against cash, quarter by quarterNet incomeOperating cash flow$44.0M$80.0MQ4 2024$13.0M$123MQ1 2025$38.0M−$25.0MQ2 2025$26.0M$27.0MQ3 2025$85.0M$231MQ4 2025$22.0M−$9.0MQ1 2026$65.0M$30.0MQ2 2026$97.0M$198MQ3 2026
Latest (Q3 2026): Net income $97.0M, Operating cash flow $198M.
NCR Atleos: diluted shares by fiscal yearNCR Atleos: diluted shares by fiscal year71MFY202171MFY202271MFY202374MFY202476MFY2025
+7.1% since FY2021: more shares outstanding (issuance, stock pay).
NCR Atleos: long-term debt falling due (FY2025)NCR Atleos: long-term debt falling due (FY2025)$80.0M2026$93.0M2027$949M2028$1.7B2029
Cash $456M, short-term investments —, long-term debt $2.7B at 2025-12-31.
NCR Atleos in its industry: growth against margin (4 companies, SIC 3578)NCR Atleos in its industry: growth against margin (4 companies, SIC 3578)revenue growth, year over year →↑ operating marginmedian +5%median 8%DBDVYXPARNATL (-2%, 17%)
Calculating & Accounting Machines (No Electronic Computers); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Buys from

About NCR Atleos

NCR Atleos Corporation (“Atleos,” the “Company,” “we,” “us,” and “our”) is an industry-leading financial technology company providing self-directed banking solutions to a global customer base including financial institutions, merchants, manufacturers, retailers and consumers. Self-directed banking is a rapidly growing, secular trend that allows banking customers to transact seamlessly between various channels all for the same transaction. Our comprehensive solutions enable the acceleration of self-directed banking through automated teller machine (“ATM”) and interactive teller machine (“ITM”) technology, including software, services, hardware and our proprietary Allpoint network.

In its own words, from its 10-K, filed Feb 27, 2026.

NCR Atleos against its Calculating & Accounting Machines (No Electronic Computers) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -2% against the peers' median +5%. Operating margin: 16.7% against the peers' median 7.8%.

CompanyQuarterRevenueY/YOp. margin
NATL NCR AtleosQ3 2026$1.1B-2%16.7%
DBD Diebold NixdorfQ3 2026$994M+5%3.9%
VYX NCR VoyixQ3 2026$539M-20%7.8%
PAR PAR TechnologyQ3 2026$137M+15%-4.0%

Source: NCR Atleos 10-Q on SEC EDGAR · CIK 1974138 · Calculating & Accounting Machines (No Electronic Computers)

Guidance and outlook

NCR Atleos: what its forward-looking statements are about (10-Q filed 2026-11-04)NCR Atleos: what its forward-looking statements are about (10-Q filed 2026-11-04)Costs2Margins1The economy1Other1Financing1Capital spending1
7 statements; tone +0.43 (−1 all cautious, +1 all confident); 3 hedged.
NCR Atleos: outlook statements against the filing beforeNCR Atleos: outlook statements against the filing beforeConfident3

13F: who owns NATL and who is buying

Largest holders of NATL (13F)Largest holders of NATL (13F)BlackRock$470MVanguard Group$307MVanguard Portfolio Management LLC$186MBank of America$172MVanguard Capital Management LLC$144MState Street$128MEngine Capital Management, LP$112MAlliancebernstein L.P.$99.8MGoldman Sachs Group$90.9MGeode Capital Management, LLC$90.4M
Funds' net buying of NATL by quarter (13F)Funds' net buying of NATL by quarter (13F)$2.8M2024-09−$77.7M2024-12$8.0M2025-03$70.4M2025-06−$58.9M2025-09$94.6M2025-12−$244M2026-03$159M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on NATL

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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