Forensic Analysis · Computer Hardware · as of Nov 10, 2026
Xerox Holdings Corp (XRX)
A forensic read on Xerox Holdings Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Clean
Earnings quality
3
Forensic signals
-135.4%
ROE
12.9%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Xerox Holdings Corp earns a C (Mixed — selective) forensic quality grade. 3 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
58d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 47 to 58 days FY2024→FY2025 (receivables +41% vs revenue +13%). Across FY2023–FY2025 the day count ran 45 → 47 → 58 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Receivables grew, but deferred revenue grew +115% over the same period too — rising alongside rising unearned revenue reads as upfront billing on multi-period contracts, not slipping collections. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.DSO (days sales outstanding): the average days the company waits to collect cash after a sale.
$1.1B
FY2024
Goodwill impairments.Took $1.1B of goodwill writedowns across 1 year (FY2024 ($1.1B)). Writedowns mean past acquisitions underperformed what was paid for them.
-56%
FY2024→FY2025
Dividend — cut.The payout was CUT ~56% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.
Key fundamentals
Latest Revenue$7.02B
Revenue Growth YoY+12.9%
Revenue CAGR (2yr)+1.0%
Net Margin-14.7%
Free Cash Flow$133.0M
Return on Equity-135.4%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Xerox Holdings Corp's actual 10-K/10-Q/8-K filings?