IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
Relative valuation derived from Technology sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
2.3%
Sector: -1.4%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
Sign up for free access to institutional-quality research tools.
Based on our 6-factor quantitative model, DIEBOLD NIXDORF, Inc (DBD) receives a "Hold" rating with a composite score of 53.2/100, ranked #392 out of 4446 stocks. Key factor scores: Quality 50/100, Value 63/100, Momentum 68/100. This is quantitative analysis only — not investment advice.
DIEBOLD NIXDORF, Inc (DBD) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does DIEBOLD NIXDORF, Inc Do?
Diebold Nixdorf, Incorporated provides connected commerce solutions to financial institutions and retailers in Western Europe, Eastern Europe, Asia, the Middle East, Africa, the United States, Canada, Mexico, and Latin America. It operates through Eurasia Banking, Americas Banking, and Retail segments. The company offers cash recyclers and dispensers, intelligent deposit terminals, teller automation tools, and kiosk technologies, as well as physical security solutions; and front-end applications for consumer connection points and back-end platforms that manage channel transactions, operations and integration, and facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management, and analytics. It also provides banking product-related services comprising proactive monitoring and rapid resolution of incidents through remote service capabilities or an on-site visit; first- and second-line maintenance, preventive maintenance, and on-demand services; managed and outsourcing services, such as business processes, solution management, upgrades, and transaction processing; and cash management services. In addition, the company offers DN Vynamic software suite to simplify and enhance the consumer experience; mobile point of sale and self-checkout terminals; printers, scales, and mobile scanners; and banknote and coin processing systems. Additionally, it provides retail customer's product-related services, such as on-demand and professional services; maintenance and availability services; implementation services; managed mobility services; monitoring and advanced analytics; and store life-cycle management services. The company was formerly known as Diebold, Incorporated and changed its name to Diebold Nixdorf, Incorporated in December 2016. Diebold Nixdorf, Incorporated was founded in 1859 and is headquartered in Hudson, Ohio. DIEBOLD NIXDORF, Inc (DBD) is classified as a mid-cap stock in the Technology sector, specifically within the Computer Hardware industry. The company is led by CEO Octavio Marquez and employs approximately 22,000 people, headquartered in North Canton, Ohio. With a market capitalization of $2.7B, DBD is one of the notable companies in the Technology sector.
DIEBOLD NIXDORF, Inc (DBD) Stock Rating — Hold (April 2026)
As of April 2026, DIEBOLD NIXDORF, Inc receives a Hold rating with a composite score of 53.2/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.DBD ranks #392 out of 4,446 stocks in our coverage universe. Within the Technology sector, DIEBOLD NIXDORF, Inc ranks #23 of 584 stocks, placing it in the top 10% of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
DBD Stock Price and 52-Week Range
DIEBOLD NIXDORF, Inc (DBD) currently trades at $84.78. The stock gained $0.27 (0.3%) in the most recent trading session. The 52-week high for DBD is $84.46, which means the stock is currently trading 0.4% from its annual peak. The 52-week low is $34.88, putting the stock 143.1% above its annual trough. Recent trading volume was 676K shares, suggesting relatively thin trading activity.
Is DBD Overvalued or Undervalued? — Valuation Analysis
DIEBOLD NIXDORF, Inc (DBD) carries a value factor score of 63/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 108.09x, compared to the Technology sector average of 45.27x — a premium of 139%. The price-to-book ratio stands at 2.47x, versus the sector average of 3.16x. The price-to-sales ratio is 0.75x, compared to 1.06x for the average Technology stock. On an enterprise value basis, DBD trades at 17.78x EV/EBITDA, versus 12.79x for the sector.
Overall, DBD's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
DIEBOLD NIXDORF, Inc Profitability — ROE, Margins, and Quality Score
DIEBOLD NIXDORF, Inc (DBD) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 2.3%, compared to the Technology sector average of -1.4%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 0.7% versus the sector average of -1.0%.
On a margin basis, DIEBOLD NIXDORF, Inc reports gross margins of 25.3%, compared to 50.9% for the sector. The operating margin is 5.6% (sector: -0.5%). Net profit margin stands at 0.6%, versus -1.5% for the average Technology stock. Revenue growth is running at 0.6% on a trailing basis, compared to 14.2% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
DBD Debt, Balance Sheet, and Financial Health
DIEBOLD NIXDORF, Inc has a debt-to-equity ratio of 85.0%, compared to the Technology sector average of 43.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 1.30x, suggesting adequate working capital coverage. Total debt on the balance sheet is $939M. Cash and equivalents stand at $246M.
DBD has a beta of 0.95, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for DIEBOLD NIXDORF, Inc is 64/100, reflecting average volatility within the normal range for its sector.
DIEBOLD NIXDORF, Inc Revenue and Earnings History — Quarterly Trend
In TTM 2026, DIEBOLD NIXDORF, Inc reported revenue of $3.63B and earnings per share (EPS) of $2.57. Net income for the quarter was $25M. Gross margin was 25.3%. Operating income came in at $206M.
In FY 2025, DIEBOLD NIXDORF, Inc reported revenue of $3.81B and earnings per share (EPS) of $2.57. Net income for the quarter was $98M. Gross margin was 25.3%. Revenue grew 1.5% year-over-year compared to FY 2024. Operating income came in at $242M.
In Q3 2025, DIEBOLD NIXDORF, Inc reported revenue of $945M and earnings per share (EPS) of $1.13. Net income for the quarter was $42M. Gross margin was 25.9%. Revenue grew 2.0% year-over-year compared to Q3 2024. Operating income came in at $74M.
In Q2 2025, DIEBOLD NIXDORF, Inc reported revenue of $915M and earnings per share (EPS) of $0.33. Net income for the quarter was $13M. Gross margin was 25.6%. Revenue grew -2.6% year-over-year compared to Q2 2024. Operating income came in at $56M.
Over the past 8 quarters, DIEBOLD NIXDORF, Inc has demonstrated a growth trajectory, with revenue expanding from $940M to $3.63B. Investors analyzing DBD stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
DBD Dividend Yield and Income Analysis
DIEBOLD NIXDORF, Inc (DBD) does not currently pay a dividend. This is common among smaller companies in the Computer Hardware industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.
DBD Momentum and Technical Analysis Profile
DIEBOLD NIXDORF, Inc (DBD) has a momentum factor score of 68/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 33/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 19/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
DBD vs Competitors — Technology Sector Ranking and Peer Comparison
Comparing DBD against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full DBD vs S&P 500 (SPY) comparison to assess how DIEBOLD NIXDORF, Inc stacks up against the broader market across all factor dimensions.
DBD Next Earnings Date
No upcoming earnings date has been announced for DIEBOLD NIXDORF, Inc (DBD) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy DBD? — Investment Thesis Summary
DIEBOLD NIXDORF, Inc presents a balanced picture with arguments on both sides. The value score of 63/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 68/100, suggesting the trend favors buyers. Low volatility (stability score 64/100) reduces downside risk.
In summary, DIEBOLD NIXDORF, Inc (DBD) earns a Hold rating with a composite score of 53.2/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on DBD stock.
We'll email you when stocks you follow change their composite rating.
Institutional Research Dossier
DIEBOLD NIXDORF, Inc (DBD) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
Diebold Nixdorf (DBD) receives a Hold rating, driven by a mixed financial profile characterized by a relatively attractive valuation offset by concerns regarding revenue growth and debt levels. While the company's profitability metrics show improvement and its valuation appears undemanding compared to the technology sector, its sluggish revenue growth and substantial debt burden present significant headwinds. Investors should remain cautious, balancing the potential for value realization with the inherent risks associated with the company's financial structure and competitive landscape.
The company's strategic focus on connected commerce solutions for financial institutions and retailers positions it to benefit from the ongoing digital transformation in these sectors. However, its ability to effectively execute its strategy and generate sustainable revenue growth will be crucial in justifying a more optimistic outlook. The current Hold rating reflects a neutral stance, acknowledging both the potential upside and the considerable challenges facing Diebold Nixdorf.
Business Strategy & Overview
Diebold Nixdorf operates as a provider of connected commerce solutions, primarily serving financial institutions and retailers. The company's revenue streams are derived from a combination of product sales (ATMs, self-checkout systems, and related hardware), software solutions (DN Vynamic suite), and services (maintenance, managed services, and consulting). Geographically, the company has a significant presence in both Europe and the Americas, with operations segmented into Eurasia Banking, Americas Banking, and Retail.
The company's strategic focus is on enabling omnichannel experiences for its clients, integrating physical and digital channels to enhance customer engagement and operational efficiency. This involves offering solutions that facilitate transactions, manage operations, and provide data-driven insights. Diebold Nixdorf aims to differentiate itself through its comprehensive portfolio, which spans hardware, software, and services, allowing it to offer end-to-end solutions tailored to the specific needs of its clients.
A key element of Diebold Nixdorf's strategy is its DN Vynamic software suite, which is designed to simplify and enhance the consumer experience across various touchpoints. The company is investing in the development and expansion of this software platform to drive recurring revenue and increase customer stickiness. Furthermore, Diebold Nixdorf is focused on expanding its managed services offerings, which provide clients with outsourcing solutions for business processes, solution management, and transaction processing.
The company operates in a competitive landscape that includes other hardware vendors, software providers, and service companies. Competitors range from large, diversified technology companies to smaller, specialized players. Diebold Nixdorf's ability to maintain its market position depends on its ability to innovate, deliver high-quality solutions, and provide superior customer service. The company's strategic partnerships and acquisitions also play a role in expanding its capabilities and market reach.
The industry is undergoing a period of transformation, driven by the increasing adoption of digital technologies and the changing expectations of consumers. Financial institutions and retailers are seeking solutions that enable them to offer seamless, personalized experiences across all channels. Diebold Nixdorf is positioning itself to capitalize on these trends by providing connected commerce solutions that address the evolving needs of its clients. However, the company faces challenges in navigating this dynamic environment, including the need to adapt to new technologies, manage increasing competition, and maintain profitability.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
0.6%
Sector: 14.2%
-96% VS SCTR
Economic Moat Analysis
Diebold Nixdorf's economic moat can be characterized as Narrow. While the company possesses certain competitive advantages, they are not strong enough to create a wide and sustainable moat. The primary sources of its narrow moat are switching costs and intangible assets, particularly in the banking segment.
Switching costs are present in the banking sector due to the integration of Diebold Nixdorf's ATMs and related systems into the core infrastructure of financial institutions. Replacing these systems can be complex and costly, involving significant disruption to operations and potential compatibility issues. This creates a degree of customer stickiness, as banks are often reluctant to switch to alternative providers unless there are compelling reasons to do so.
Intangible assets, such as brand recognition and proprietary technology, also contribute to the company's narrow moat. Diebold Nixdorf has a long history in the industry and a well-established brand, particularly in the ATM market. Its proprietary software and hardware technologies provide a degree of differentiation and can be difficult for competitors to replicate. However, these advantages are not insurmountable, as other companies are also investing in innovative solutions and building their own brands.
The retail segment, however, exhibits weaker moat characteristics. While Diebold Nixdorf offers a range of retail solutions, including self-checkout systems and point-of-sale terminals, the switching costs are generally lower compared to the banking sector. Retailers have more options and are often more willing to switch providers based on price, features, and service quality. The competitive landscape in the retail segment is also more fragmented, with a larger number of players vying for market share.
The company's moat is further constrained by the commoditization of certain hardware components and the increasing importance of software and services. While Diebold Nixdorf has a strong hardware portfolio, the underlying components are becoming increasingly standardized, reducing the differentiation based on hardware alone. The company's ability to develop and deliver innovative software and services is crucial in maintaining its competitive advantage. However, this requires ongoing investment and innovation, as well as the ability to attract and retain talented software engineers and service professionals.
Overall, Diebold Nixdorf's narrow moat provides a degree of protection against competition, but it is not impenetrable. The company's ability to strengthen its moat depends on its ability to innovate, differentiate its offerings, and build stronger relationships with its clients. The increasing importance of software and services, as well as the evolving needs of financial institutions and retailers, will shape the future of the company's competitive position.
Financial Health & Profitability
Diebold Nixdorf's financial health presents a mixed picture. The company's revenue growth has been sluggish, with a TTM revenue of $3.81 billion representing only a 0.6% increase compared to the previous year's $3.75 billion. This lack of significant revenue growth is a concern, particularly when compared to the technology sector's average revenue growth of 14.0%. The quarterly financial history reveals inconsistent revenue performance, with fluctuations from quarter to quarter.
Profitability metrics, however, show some signs of improvement. The company's net income for the TTM period is $97.50 million, a significant turnaround from the net loss of $14.50 million in the previous year. The gross margin of 25.3% is relatively low compared to the sector average of 51.2%, but the operating margin of 5.6% is positive and compares favorably to the sector's negative average of -0.5%. The quarterly data indicates that operating margins have been improving, suggesting that the company is making progress in controlling costs and improving efficiency.
The balance sheet is a key area of concern. Diebold Nixdorf has a substantial debt burden, with total debt of $938.50 million and total cash of $246.10 million. This results in a high debt-to-equity ratio of 85.00, significantly higher than the sector average of 43.00. The current ratio of 1.30 indicates that the company has sufficient short-term liquidity to meet its obligations, but the high level of debt increases the company's financial risk and limits its flexibility.
The company's return on equity (ROE) of 2.3% is positive but relatively low compared to the sector average of -1.5%. This suggests that the company is generating some returns for its shareholders, but there is room for improvement. The lack of free cash flow data makes it difficult to assess the company's cash flow generation capabilities. However, the company's ability to generate positive net income and improve its operating margins suggests that it is making progress in improving its cash flow profile.
Overall, Diebold Nixdorf's financial health is characterized by sluggish revenue growth, improving profitability, a high debt burden, and a positive but relatively low ROE. The company's ability to generate sustainable revenue growth, manage its debt levels, and improve its profitability will be crucial in determining its long-term financial performance.
Valuation Assessment
Diebold Nixdorf's valuation metrics suggest that the stock is relatively undervalued compared to the technology sector. The company's price-to-earnings (P/E) ratio of 27.8x is significantly lower than the sector average of 45.3x. Similarly, its enterprise value-to-EBITDA (EV/EBITDA) ratio of 3.6x is substantially lower than the sector average of 13.0x. These metrics indicate that the market is not assigning a high premium to Diebold Nixdorf's earnings and cash flow generation potential.
However, it is important to consider the company's growth prospects when assessing its valuation. Diebold Nixdorf's revenue growth has been sluggish, and its future growth potential is uncertain. The company's high debt levels also weigh on its valuation, as they increase its financial risk and limit its ability to invest in growth initiatives. Therefore, the company's low valuation multiples may reflect the market's concerns about its growth prospects and financial health.
A discounted cash flow (DCF) analysis would be helpful in determining the intrinsic value of the stock. However, the lack of free cash flow data makes it difficult to perform a reliable DCF analysis. Without free cash flow data, it is difficult to determine if the company's current market capitalization of $2.51 billion is justified by its future cash flow generation potential.
Compared to its historical valuation, Diebold Nixdorf's current valuation appears to be in line with its historical averages. The company's P/E and EV/EBITDA ratios have fluctuated over time, reflecting changes in its financial performance and market sentiment. However, the current valuation is not significantly higher or lower than its historical averages, suggesting that the market is not assigning a significantly different value to the company than it has in the past.
Overall, Diebold Nixdorf's valuation appears to be relatively undemanding compared to the technology sector. However, the company's sluggish revenue growth, high debt levels, and uncertain growth prospects warrant caution. Investors should carefully consider these factors when assessing the stock's valuation and potential for future appreciation.
Risk & Uncertainty
Diebold Nixdorf faces several specific risks that could negatively impact its business and financial performance. One of the most significant risks is the company's high level of debt. The company's debt burden increases its financial risk and limits its flexibility to invest in growth initiatives or respond to changing market conditions. A significant portion of the company's cash flow is used to service its debt, which reduces the amount of cash available for other purposes.
Another key risk is the increasing competition in the markets in which Diebold Nixdorf operates. The company faces competition from a variety of players, including large, diversified technology companies and smaller, specialized providers. The competitive landscape is constantly evolving, and Diebold Nixdorf must continually innovate and differentiate its offerings to maintain its market position. Failure to do so could result in a loss of market share and a decline in revenue.
The company's reliance on the financial services and retail industries also presents a risk. These industries are subject to economic cycles and regulatory changes, which could impact demand for Diebold Nixdorf's products and services. A slowdown in economic growth or increased regulation could negatively affect the company's revenue and profitability.
The company's international operations expose it to currency risk and geopolitical risk. Fluctuations in exchange rates could impact the company's revenue and profitability, particularly in countries where it has significant operations. Geopolitical events, such as trade wars or political instability, could also disrupt the company's business and financial performance.
Finally, the company faces the risk of technological obsolescence. The technology landscape is constantly evolving, and Diebold Nixdorf must continually invest in research and development to stay ahead of the curve. Failure to adapt to new technologies could result in a loss of competitiveness and a decline in revenue.
Bulls Say / Bears Say
The Bull Case
BULL VIEWDiebold Nixdorf's low valuation multiples, particularly its P/E and EV/EBITDA ratios relative to the sector, suggest significant upside potential if the company can execute its turnaround strategy and improve its financial performance.
BULL VIEWThe company's strategic focus on connected commerce solutions positions it to benefit from the ongoing digital transformation in the financial services and retail industries, driving future revenue growth and profitability.
BULL VIEWRecent improvements in operating margins and net income indicate that Diebold Nixdorf is making progress in controlling costs and improving efficiency, which could lead to a re-rating of the stock by the market.
The Bear Case
BEAR VIEWDiebold Nixdorf's high debt levels pose a significant risk to its financial stability and limit its ability to invest in growth initiatives, potentially hindering its long-term prospects.
BEAR VIEWThe company's sluggish revenue growth and inconsistent financial performance raise concerns about its ability to compete effectively in a rapidly evolving technology landscape.
BEAR VIEWThe lack of free cash flow data and the company's history of losses suggest that it may struggle to generate sustainable cash flow and improve its financial health.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score DBD and 4,400+ other equities.
DIEBOLD NIXDORF, Inc exhibits a 32% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
0.7%
Sector: -1.0%
Gross Margin
Pricing power and cost efficiency
25.3%
Sector: 50.9%
Operating Margin
Core business profitability
5.6%
Sector: -0.5%
Net Margin
Bottom-line profitability
0.6%
Sector: -1.5%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
