What is Xerox Holdings Corp worth?
With the base-case assumptions below, a discounted cash flow model on Xerox Holdings Corp's reported free cash flow gives -$8.66 per share. The share price was $3.32 on September 25, 2026, 138% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -5.0% | 10.0% | -$16.26 | -590% |
| Base | 0.0% | 9.0% | -$8.66 | -361% |
| Bull | 5.0% | 8.0% | $5.53 | +66% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | -$3.41 | -$1.83 | $0.09 | $2.50 | $5.60 |
| 8.0% | -$7.31 | -$6.28 | -$5.08 | -$3.63 | -$1.86 |
| 9.0% | -$10.17 | -$9.47 | -$8.66 | -$7.72 | -$6.61 |
| 10.0% | -$12.36 | -$11.86 | -$11.30 | -$10.65 | -$9.91 |
| 11.0% | -$14.08 | -$13.72 | -$13.31 | -$12.85 | -$12.34 |
Where the presets come from
Base: years 1 to 5 grow at Xerox Holdings Corp's revenue growth rate over the last 5 fiscal years (0.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions