Diebold Nixdorf reports stronger 2025 results with a return to profitability. Total net sales rose slightly to $3,805.7 million from $3,751.1 million, while net income swung to a $97.5 million profit from a $14.5 million loss, helped by higher product margins and lower operating costs.
Gross margin improved to 25.3%, driven by a 26.9% product margin, even as service margins dipped. Operating cash flow more than doubled to $300.7 million, supporting share repurchases of 2.31 million shares for $128.0 million and capital investment.
The company refinanced its capital structure with $950.0 million of 7.75% Senior Secured Notes due 2030 and a $310.0 million revolving credit facility, cutting interest expense by 44.8%. Year-end liquidity totaled $726.4 million, including $416.4 million of cash and short-term investments and a fully undrawn revolver, while credit ratings were upgraded to B1 (Moody’s) and B+ (S&P), both with stable outlooks.
Diebold Nixdorf reported strong 2025 results with revenue of $3.81B, adjusted EBITDA of $485M, and free cash flow of $239M, more than double the prior year. Adjusted EPS climbed to $5.59, and Q4 adjusted EBITDA reached $164M on revenue of $1.10B.
The company repurchased about $128M of stock in 2025, roughly 6% of shares outstanding, and is executing a new $200M buyback after completing an initial $100M program. Moody’s upgraded its credit rating to B1 from B2, citing a stronger financial profile.
For 2026, management guides to revenue of $3.86B–$3.94B, adjusted EBITDA of $510M–$535M, free cash flow of $255M–$270M, and adjusted EPS of $5.25–$5.75, with growth expected in both Banking and Retail and revenue skewed to the second half.
William Blair Investment Management, LLC filed a Schedule 13G showing a passive ownership stake in Diebold Nixdorf, Inc. common stock. It reports beneficial ownership of 1,802,571 shares, representing 5.0% of the outstanding common stock as of 12/31/2025.
The firm has sole voting power over 1,483,914 shares and sole dispositive power over all 1,802,571 shares, with no shared voting or dispositive power. It certifies the position was acquired and is held in the ordinary course of business, not to change or influence control of Diebold Nixdorf.
Diebold Nixdorf executive Frank Tobias Baur, EVP and Chief Operating Officer, reported an automatic share withholding related to equity compensation. On January 19, 2026, 716 shares of Diebold Nixdorf common stock were withheld at $69.91 per share under a tax withholding right tied to the company’s 2023 Equity and Incentive Plan, as amended. This type of transaction (coded “F”) reflects shares withheld to cover taxes rather than an open-market sale.
After this withholding, Baur beneficially owned 37,856 shares of common stock, a figure that includes restricted stock units. The filing indicates these holdings are owned directly.
Diebold Nixdorf EVP and CFO Thomas S. Timko reported an automatic share withholding related to equity compensation. On January 19, 2026, 1,439 shares of Diebold Nixdorf common stock were withheld at a price of $69.91 per share. According to the filing, these shares were withheld to satisfy tax obligations under the company’s 2023 Equity and Incentive Plan, as amended, rather than being an open-market sale.
After this tax withholding event, Timko beneficially owned 67,053 shares of common stock directly, and this number includes restricted stock units. The transaction is coded as “F,” which indicates a payment of tax liability by delivering or withholding securities incident to the vesting of an award, a common feature of equity-based executive compensation.
Diebold Nixdorf, Inc. insider filing shows a routine tax-related share withholding by the company’s President and CEO, Octavio Marquez. On January 19, 2026, 3,136 shares of common stock were withheld under a tax withholding right connected to the company’s 2023 Equity and Incentive Plan, as amended. The transaction is coded "F," which indicates shares were retained by the issuer to satisfy tax obligations rather than sold on the open market.
After this transaction, Marquez beneficially owned 191,639 shares of Diebold Nixdorf common stock, a figure that the filing notes includes Restricted Stock Units. The filing characterizes this as an administrative equity-compensation event rather than a discretionary buy or sell decision.
Diebold Nixdorf, Inc. executive Jonathan Myers, EVP and Chief Revenue Officer, reported a routine share withholding related to equity compensation. On 01/19/2026, Myers had 1,047 shares of common stock withheld at $69.91 per share (transaction code F), which the footnote explains was to satisfy tax withholding obligations under the company’s 2023 Equity and Incentive Plan. After this transaction, he beneficially owned 37,723 shares of common stock, a figure that includes restricted stock units.
Diebold Nixdorf executive Elizabeth Radigan, EVP and Chief Administrative Officer, reported a routine tax-related share withholding. On 01/19/2026, 757 shares of Diebold Nixdorf common stock were withheld at a price of $69.91 per share to satisfy tax obligations under the company’s 2023 Equity and Incentive Plan, as amended.
After this transaction, Radigan beneficially owned 23,890 shares of Diebold Nixdorf common stock, a figure that includes restricted stock units. The filing indicates she holds these shares directly, rather than through an intermediary entity.
Millstreet Capital Management and related individuals filed Amendment No. 3 to Schedule 13D for Diebold Nixdorf, Inc., updating their ownership and recent trading activity. The reporting persons beneficially own 5,216,672 common shares, representing 14.54% of Diebold Nixdorf’s outstanding common stock, with shared voting and dispositive power and no sole voting or dispositive power.
The amendment notes that Millstreet Credit Fund LP, for which Millstreet serves as investment manager, has the right to receive dividends or sale proceeds on more than five percent of the outstanding common shares. It also discloses open‑market sales of 211,204 shares at $62.9348 on 11/05/2025, 40,522 shares at $64.5217 on 11/06/2026, and 500,000 shares at $68.0000 on 01/15/2026.
Diebold Nixdorf, Inc. insider filing shows a large share sale by an institutional holder associated with Millstreet Capital Management LLC. On 01/15/2026, accounts advised by Millstreet Capital Management LLC sold 500,000 shares of Diebold Nixdorf common stock at $68 per share in an open-market transaction coded "S". After this sale, 5,216,672 shares of Diebold Nixdorf common stock were reported as beneficially owned on an indirect basis for the benefit of private funds and accounts advised by Millstreet. Millstreet, along with Brian D. Connolly and Craig M. Kelleher as managing members, each disclaims beneficial ownership beyond their respective pecuniary interests.