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Added to YB: 2026-04-08

Pitch date: 2026-03-25

NATL [bullish]

NCR Atleos Corporation

+0.65%

current return

Author Info

Alex is an MBA from Columbia Business School, Value Investing Program that invests in global stocks. Sign up for the newsletter.

Company Info

NCR Atleos Corporation, a financial technology company, engages in the provision of self-directed banking solutions to financial institutions, merchants, manufacturers, retailers, and consumers in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Market Cap

$3.2B

Pitch Price

$43.20

Price Target

48.00 (+9%)

Dividend

N/A

EV/EBITDA

6.53

P/E

20.42

EV/Sales

1.32

Sector

Financial Services

Category

growth

Show full summary:
NCR Atleos (NATL NYSE)- the SaaS-like transformation of the ATM Industry

NATL: Leading ATM manufacturer shifting to ATMaaS model, expanding wallet share 2-2.5x per ATM w/ 5% higher EBITDA margins (30% vs 20-25%). 28.4K ATMs under ATMaaS today, targeting 125K in 3-5yrs. Mgmt guides 6-9% EBITDA growth, 21-27% EPS growth, 7-24% FCF growth 2025. 80% recurring rev from maintenance/software. Post-spinoff deleveraging from 3.7x to 3.2x debt/EBITDA, buybacks H2 2025. Trades 6.2x EV/EBITDA, 9.5x P/E despite mid-teens EBITDA CAGR potential through 2027. PT $48, 25% base case 3yr IRR.

Read full article (9 min)