Loading...

Xerox

NYSE:XRX
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
XRX
NYSE
$7B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
  • Xerox has significant price volatility in the past 3 months.
XRX Share Price and Events
7 Day Returns
1.5%
NYSE:XRX
2.9%
US Tech
1.2%
US Market
1 Year Returns
3.7%
NYSE:XRX
3.1%
US Tech
3%
US Market
XRX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Xerox (XRX) 1.5% 5.1% 63.7% 3.7% -24.2% -26.9%
US Tech 2.9% 8.7% 16.8% 3.1% 64.8% 107.3%
US Market 1.2% 2.1% 14.6% 3% 39% 43.5%
1 Year Return vs Industry and Market
Price Volatility
XRX
Industry
5yr Volatility vs Market

XRX Value

 Is Xerox undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Xerox to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Xerox.

NYSE:XRX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:XRX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.027 (1 + (1- 21%) (71.5%))
1.406
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.41
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.406 * 5.96%)
11.11%

Discounted Cash Flow Calculation for NYSE:XRX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Xerox is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:XRX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.11%)
2019 847.00 Analyst x2 762.30
2020 1,003.50 Analyst x2 812.83
2021 1,123.00 Analyst x1 818.66
2022 1,171.20 Est @ 4.29% 768.42
2023 1,215.98 Est @ 3.82% 718.01
2024 1,258.48 Est @ 3.5% 668.80
2025 1,299.58 Est @ 3.27% 621.57
2026 1,339.94 Est @ 3.11% 576.79
2027 1,380.03 Est @ 2.99% 534.64
2028 1,420.24 Est @ 2.91% 495.20
Present value of next 10 years cash flows $6,777.21
NYSE:XRX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,420.24 × (1 + 2.73%) ÷ (11.11% – 2.73%)
$17,407.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $17,407.77 ÷ (1 + 11.11%)10
$6,069.55
NYSE:XRX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $6,777.21 + $6,069.55
$12,846.76
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $12,846.76 / 228.51
$56.22
NYSE:XRX Discount to Share Price
Calculation Result
Value per share (USD) From above. $56.22
Current discount Discount to share price of $32.01
= -1 x ($32.01 - $56.22) / $56.22
43.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Xerox is available for.
Intrinsic value
43%
Share price is $32.01 vs Future cash flow value of $56.22
Current Discount Checks
For Xerox to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Xerox's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Xerox's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Xerox's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Xerox's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:XRX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.40
NYSE:XRX Share Price ** NYSE (2019-03-20) in USD $32.01
United States of America Tech Industry PE Ratio Median Figure of 15 Publicly-Listed Tech Companies 16.8x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Xerox.

NYSE:XRX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:XRX Share Price ÷ EPS (both in USD)

= 32.01 ÷ 1.40

22.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Xerox is overvalued based on earnings compared to the US Tech industry average.
  • Xerox is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Xerox's expected growth come at a high price?
Raw Data
NYSE:XRX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
21.3%per year
United States of America Tech Industry PEG Ratio Median Figure of 8 Publicly-Listed Tech Companies 1.09x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NYSE:XRX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.94x ÷ 21.3%

1.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Xerox is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Xerox's assets?
Raw Data
NYSE:XRX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $21.80
NYSE:XRX Share Price * NYSE (2019-03-20) in USD $32.01
United States of America Tech Industry PB Ratio Median Figure of 37 Publicly-Listed Tech Companies 1.87x
United States of America Market PB Ratio Median Figure of 5,156 Publicly-Listed Companies 1.89x
NYSE:XRX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:XRX Share Price ÷ Book Value per Share (both in USD)

= 32.01 ÷ 21.80

1.47x

* Primary Listing of Xerox.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Xerox is good value based on assets compared to the US Tech industry average.
X
Value checks
We assess Xerox's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Tech industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Tech industry average (and greater than 0)? (1 check)
  5. Xerox has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

XRX Future Performance

 How is Xerox expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
21.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Xerox expected to grow at an attractive rate?
  • Xerox's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Xerox's earnings growth is expected to exceed the United States of America market average.
  • Xerox's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:XRX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:XRX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 21.3%
NYSE:XRX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -4.2%
United States of America Tech Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
United States of America Tech Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:XRX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:XRX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 8,693 1,262 668 1
2020-12-31 9,029 1,227 725 4
2019-12-31 9,318 1,110 621 5
NYSE:XRX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 9,830 1,140 347
2018-09-30 10,044 886 14
2018-06-30 10,189 167 101
2018-03-31 10,246 198 155
2017-12-31 10,265 -267 178
2017-09-30 10,252 446 556
2017-06-30 10,384 1,261 553
2017-03-31 10,610 1,172 580
2016-12-31 10,771 798 598
2016-09-30 6,110 1,400 994
2016-06-30 7,814 1,301 788
2016-03-31 9,611 1,473 699

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Xerox's earnings are expected to grow significantly at over 20% yearly.
  • Xerox's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:XRX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Xerox Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:XRX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.94 2.94 2.94 1.00
2020-12-31 3.06 3.35 2.77 2.00
2019-12-31 2.56 2.58 2.54 2.00
NYSE:XRX Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.40
2018-09-30 0.06
2018-06-30 0.40
2018-03-31 0.61
2017-12-31 0.70
2017-09-30 2.19
2017-06-30 2.18
2017-03-31 2.29
2016-12-31 2.36
2016-09-30 3.92
2016-06-30 3.08
2016-03-31 2.69

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Xerox is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Xerox's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Xerox has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

XRX Past Performance

  How has Xerox performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Xerox's growth in the last year to its industry (Tech).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Xerox's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Xerox's 1-year earnings growth exceeds its 5-year average (94.9% vs -30.7%)
  • Xerox's earnings growth has not exceeded the US Tech industry average in the past year (94.9% vs 94.9%).
Earnings and Revenue History
Xerox's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Xerox Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:XRX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 9,830.00 347.00 2,496.00 397.00
2018-09-30 10,044.00 14.00 2,542.00 431.00
2018-06-30 10,189.00 101.00 2,594.00 434.00
2018-03-31 10,246.00 155.00 2,616.00 435.00
2017-12-31 10,265.00 178.00 2,714.00 424.00
2017-09-30 10,252.00 556.00 2,529.00 431.00
2017-06-30 10,384.00 553.00 2,563.00 444.00
2017-03-31 10,610.00 580.00 2,628.00 461.00
2016-12-31 10,771.00 598.00 2,757.00 463.00
2016-09-30 6,110.00 994.00 2,245.00 456.00
2016-06-30 7,814.00 788.00 2,436.00 473.00
2016-03-31 9,611.00 699.00 2,651.00 496.00
2015-12-31 11,465.00 798.00 2,865.00 511.00
2015-09-30 18,425.00 592.00 3,618.00 568.00
2015-06-30 18,887.00 881.00 3,705.00 572.00
2015-03-31 19,238.00 1,029.00 3,758.00 573.00
2014-12-31 12,679.00 1,005.00 3,133.00 531.00
2014-09-30 18,720.00 1,019.00 3,829.00 582.00
2014-06-30 19,160.00 1,048.00 3,902.00 588.00
2014-03-31 19,585.00 1,088.00 3,979.00 594.00
2013-12-31 20,006.00 1,115.00 4,073.00 603.00
2013-09-30 21,556.00 1,185.00 4,167.00 608.00
2013-06-30 21,596.00 1,178.00 4,184.00 624.00
2013-03-31 21,598.00 1,190.00 4,205.00 636.00
2012-12-31 20,421.00 1,128.00 4,141.00 655.00
2012-09-30 21,938.00 1,201.00 4,289.00 674.00
2012-06-30 22,246.00 1,241.00 4,366.00 696.00
2012-03-31 22,492.00 1,253.00 4,428.00 710.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Xerox has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Xerox used its assets less efficiently than the US Tech industry average last year based on Return on Assets.
  • Xerox has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Xerox's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Tech industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Xerox has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

XRX Health

 How is Xerox's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Xerox's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Xerox is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Xerox's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Xerox's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Xerox Company Filings, last reported 2 months ago.

NYSE:XRX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,253.00 5,230.00 1,084.00
2018-09-30 5,436.00 5,231.00 1,157.00
2018-06-30 5,622.00 5,230.00 1,263.00
2018-03-31 5,796.00 5,493.00 1,398.00
2017-12-31 5,507.00 5,517.00 1,293.00
2017-09-30 5,604.00 5,998.00 1,781.00
2017-06-30 5,372.00 5,001.00 1,246.00
2017-03-31 5,180.00 5,001.00 1,045.00
2016-12-31 4,961.00 6,316.00 2,223.00
2016-09-30 9,643.00 7,379.00 1,423.00
2016-06-30 9,565.00 7,384.00 1,203.00
2016-03-31 9,512.00 7,388.00 1,189.00
2015-12-31 9,466.00 7,279.00 1,228.00
2015-09-30 9,506.00 7,576.00 804.00
2015-06-30 10,446.00 7,646.00 1,641.00
2015-03-31 10,595.00 7,598.00 872.00
2014-12-31 11,102.00 7,741.00 1,411.00
2014-09-30 12,257.00 7,660.00 1,015.00
2014-06-30 12,754.00 7,709.00 1,007.00
2014-03-31 12,685.00 8,008.00 1,567.00
2013-12-31 12,768.00 8,021.00 1,764.00
2013-09-30 12,529.00 7,541.00 948.00
2013-06-30 12,223.00 8,149.00 929.00
2013-03-31 11,995.00 8,539.00 993.00
2012-12-31 12,013.00 8,489.00 1,246.00
2012-09-30 12,715.00 9,351.00 882.00
2012-06-30 12,495.00 9,160.00 814.00
2012-03-31 12,740.00 9,628.00 1,514.00
  • Xerox's level of debt (99.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (62.8% vs 99.6% today).
  • Debt is well covered by operating cash flow (21.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.2x coverage).
X
Financial health checks
We assess Xerox's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Xerox has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

XRX Dividends

 What is Xerox's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.12%
Current annual income from Xerox dividends. Estimated to be 3.19% next year.
If you bought $2,000 of Xerox shares you are expected to receive $62 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Xerox's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Xerox's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Upcoming dividend payment

Purchase Xerox on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:XRX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Tech Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:XRX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.01 1.00
2020-12-31 1.03 5.00
2019-12-31 1.02 5.00
NYSE:XRX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-21 1.000 3.201
2018-10-18 1.000 3.974
2018-07-19 1.000 3.748
2018-05-21 1.000 3.800
2018-02-22 1.000 3.383
2017-10-17 1.000 3.300
2016-10-19 1.240 4.008
2016-07-20 1.240 3.146
2016-05-20 1.240 3.210
2016-02-01 1.240 3.105
2016-01-29 1.240 3.233
2015-10-20 1.120 2.813
2015-07-22 1.120 2.685
2015-05-20 1.120 2.551
2015-01-30 1.120 2.200
2014-10-15 1.000 1.852
2014-07-17 1.000 1.881
2014-05-20 1.000 2.007
2014-01-24 1.000 2.237
2013-10-16 0.920 2.052
2013-07-18 0.920 2.268
2013-05-21 0.920 2.502
2012-11-13 0.920 2.938
2012-10-16 0.680 2.553
2012-07-17 0.680 2.347
2012-05-24 0.680 2.261
2012-02-22 0.680 2.144
2011-10-13 0.680 2.111
2011-07-14 0.680 2.112
2011-05-26 0.680 1.696
2011-02-22 0.680 1.635
2010-10-14 0.680 1.489
2010-07-15 0.680 1.786
2010-05-20 0.680 1.934
2010-02-25 0.680 1.681
2009-10-15 0.680 2.047
2009-07-16 0.680 2.066
2009-05-21 0.680 2.543
2009-03-23 0.680 3.024

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Xerox's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.2x coverage).
X
Income/ dividend checks
We assess Xerox's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Xerox afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Xerox has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

XRX Management

 What is the CEO of Xerox's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
John Visentin
AGE 56
TENURE AS CEO 0.8 years
CEO Bio

Mr. Giovanni G. Visentin, also known as John, has been Vice Chairman and Chief Executive Officer of Xerox Corp. since May 2018. Mr. Visentin , serves as Executive Chairman of Novitex Enterprise Solutions, Inc. and has been its Chief Executive Officer since October 2013. Mr. Visentin was appointed to lead Novitex in October 2013 following the acquisition of Pitney Bowes Management Service by funds affiliated with Apollo Global Management. He has extensive experience managing global IT services businesses and a proven record of expanding service offerings, enhancing service delivery and improving client satisfaction. Mr. Visentin has over 30 years of experience building and managing IT services and solutions organizations that scaled as high as 140,000 people. He served as Executive Vice President and General Manager of Enterprise Services at HP Inc. from August 2011 to August 2012. He served as Executive Vice President of HPES at HP Inc. He served as Senior Vice President and General Manager of the America Region of HP's enterprise services business from January 2011 to August 2011. Prior to HP, Mr. Visentin served as General Manager of Integrated Technology Services for North America for IBM, a global technology firm, from August 2007 to January 2011 after having served in various other positions at IBM since joining it in 1985. He has been the Chairman of Presidio Holdings, Inc. since March 02, 2015. He served as the Chairman at Presidio, Inc. February 2015 until November 8, 2017 and served as its Director since February 2, 2015 until November 8, 2017. Mr. Visentin graduated from Concordia University in Montreal, Canada, with a Bachelor of Commerce.

CEO Compensation
  • Insufficient data for John to compare compensation growth.
  • Insufficient data for John to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Xerox management team in years:

2.2
Average Tenure
55.5
Average Age
  • The tenure for the Xerox management team is about average.
Management Team

Bill Osbourn

TITLE
Executive VP & CFO
COMPENSATION
$5M
AGE
53
TENURE
2.2 yrs

Hervé N. Tessler

TITLE
Executive VP & President of EMEA Operations
COMPENSATION
$5M
AGE
55
TENURE
5.2 yrs

Mike Feldman

TITLE
Executive VP & President of Americas Operations
COMPENSATION
$4M
AGE
51
TENURE
2.2 yrs

John Visentin

TITLE
Vice Chairman & CEO
AGE
56
TENURE
0.8 yrs

Steve Bandrowczak

TITLE
President & COO
AGE
57
TENURE
0.8 yrs

Joe Mancini

TITLE
VP & Chief Accounting Officer
AGE
60
TENURE
5.9 yrs

Steve Hoover

TITLE
Senior VP & CTO
AGE
57
TENURE
2.2 yrs

Jennifer Horsley

TITLE
Vice President of Investor Relations

Louis Pastor

TITLE
Executive VP & General Counsel
AGE
33
TENURE
0.4 yrs

Toni Clayton-Hine

TITLE
Senior VP & Chief Marketing Officer
Board of Directors Tenure

Average tenure and age of the Xerox board of directors in years:

2.2
Average Tenure
59.5
Average Age
  • The average tenure for the Xerox board of directors is less than 3 years, this suggests a new board.
Board of Directors

Keith Cozza

TITLE
Chairman of the Board
AGE
39
TENURE
0.8 yrs

John Visentin

TITLE
Vice Chairman & CEO
AGE
56
TENURE
0.8 yrs

Joe Echevarria

TITLE
Director
COMPENSATION
$265K
AGE
61
TENURE
2.2 yrs

Cheryl Krongard

TITLE
Director
COMPENSATION
$266K
AGE
62
TENURE
2.2 yrs

Ravi Ugale

TITLE
Board Observer

William Hunter

TITLE
Director
COMPENSATION
$288K
AGE
70
TENURE
15.2 yrs

Sean Carey

TITLE
Member of Peak Advisory Council
TENURE
9 yrs

Sara Martinez Tucker

TITLE
Director
COMPENSATION
$290K
AGE
63
TENURE
7.5 yrs

Jonathan Christodoro

TITLE
Director
COMPENSATION
$280K
AGE
42
TENURE
0.8 yrs

Greg Brown

TITLE
Director
COMPENSATION
$266K
AGE
58
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
07. Nov 18 Sell Michael Feldman Individual 06. Nov 18 06. Nov 18 -3,729 $29.00 $-108,141
06. Aug 18 Sell Hervé N. Tessler Individual 03. Aug 18 03. Aug 18 -16,567 $26.03 $-431,221
31. Jul 18 Buy Keith Cozza Individual 27. Jul 18 27. Jul 18 50,000 $25.42 $1,271,000
X
Management checks
We assess Xerox's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Xerox has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

XRX News

Simply Wall St News

What Should Investors Know About Xerox Corporation's (NYSE:XRX) Capital Returns?

and want a simplistic look at the return on Xerox Corporation (NYSE:XRX) stock. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Thus, to understand how your money can grow by investing in Xerox, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

What You Must Know About Xerox Corporation's (NYSE:XRX) 2.2% ROE

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Xerox has a return on equity of 2.2% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Xerox Corporation's (NYSE:XRX) Balance Sheet A Threat To Its Future?

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Xerox Corporation (NYSE:XRX), with a market capitalization of US$6.67b, rarely draw their attention from the investing community. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis.

Simply Wall St -

Xerox Corporation (NYSE:XRX): The Return Story

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Thus, to understand how your money can grow by investing in Xerox, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Estimating The Intrinsic Value Of Xerox Corporation (NYSE:XRX)

by taking the foreast future cash flows of the company and discounting them back to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Negative Sentiment Around Xerox Corporation (NYSE:XRX) Is Justified

Xerox Corporation (NYSE:XRX) is a company I've been following for a while, and one that I believe the market is over-hyped about. … It's crucial to understand if a company has a strong future based on its current operations and financial status. … First, a short introduction to the company is in order.

Simply Wall St -

What Should You Know About Xerox Corporation's (NYSE:XRX) Profit Margin?

Xerox Corporation (NYSE:XRX) to … net income growth in the triple digits … it's necessary to take a moment

Simply Wall St -

Should You Buy Xerox Corporation (NYSE:XRX)?

The current state of XRX's financial health induces further concerns around the sustainability of the business going forward. … One reason I do like XRX as a business is its low level of fixed assets on its balance sheet (9.68% of total assets). … Moreover, comparing XRX's current share price to its peers based on its industry and earnings level, it's overvalued by 112.10%, with a PE ratio of 40.25x vs.

Simply Wall St -

3 Days Left Before Xerox Corporation (NYSE:XRX) Will Start Trading Ex-Dividend, Should You Buy?

Check out our latest analysis for Xerox 5 questions to ask before buying a dividend stock When researching a dividend stock, I always follow the following screening criteria: Does it pay an annual yield higher than 75% of dividend payers? … Moreover, EPS should increase to $2.74, meaning that the lower payout ratio does not necessarily implicate a lower dividend payment. … Reliablity is an important factor for dividend stocks, particularly for income investors who want a strong track record of payment and a positive outlook for future payout.

Simply Wall St -

March Top Dividend Stock

NYSE:M Historical Dividend Yield Mar 1st 18 Alliant Energy Corporation (NYSE:LNT) Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services to residential, commercial, industrial, and wholesale customers in the Midwest region of the United States. … LNT has a nice dividend yield of 3.45% and the company currently pays out 63.48% of its profits as dividends. … NYSE:LNT Historical Dividend Yield Mar 1st 18 For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.

Simply Wall St -

XRX Company Info

Description

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management. The company also provides desktop monochrome and color printers, and multifunction printers; copiers, digital printing presses and light production devices, and solutions; graphic communications and commercial printers; inkjet presses; and FreeFlow portfolio of software solutions for the automation and integration of print jobs processing. In addition, it sells paper products, wide-format systems, and network integration solutions, such as xerox business solutions. The company sells its products and services directly to its customers through sales force, as well as through independent agents, dealers, value-added resellers, systems integrators, and the Web. Xerox Corporation was founded in 1906 and is headquartered in Norwalk, Connecticut.

Details
Name: Xerox Corporation
XRX
Exchange: NYSE
Founded: 1906
$7,314,494,729
228,506,552
Website: http://www.xerox.com
Address: Xerox Corporation
201 Merritt 7,
PO Box 4505,
Norwalk,
Connecticut, 06851,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE XRX Common Stock New York Stock Exchange US USD 02. Jan 1968
DB XER1 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0M21 Common Stock London Stock Exchange GB USD 02. Jan 1968
SWX XRX Common Stock SIX Swiss Exchange CH CHF 02. Jan 1968
WBAG XRX Common Stock Wiener Boerse AG AT EUR 02. Jan 1968
BOVESPA XRXB34 BDR EACH REPR 1 COM USD1 Bolsa de Valores de Sao Paulo BR BRL 24. Aug 2012
Number of employees
Current staff
Staff numbers
32,400
Xerox employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 23:49
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/02/07
Last earnings filing: 2019/02/25
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.