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TickerDBD
SectorSoftware - Application
Mkt cap$2.7B
EV / EBITDA7.5×
PostureHigh Velocity
Composite70/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 28823

Diebold Nixdorf, Incorporated

DBDHIGH VELOCITYFILING INTENSITY

Diebold Nixdorf, Incorporated reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Software & IT.

Lens

Disclosed M&A capital (2023–2025)

N/A

flat

vs N/A in 2020–2022

Disclosed transactions

N/A

flat

0/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$3.9B
EBITDA$456M
Enterprise value$3.4B
EV / Revenue0.9×
EV / EBITDA7.5×
P/EN/A
Cash$359M
Total debt$939M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

24/100

Companies actively deploying disclosed capital into M&A

  • $300M disclosed buyer spend

Buyer Cadence

18/100

Buyer-side companies with recent filing activity

  • Filed within 40d
  • 312 8-Ks

Target Probability

20/100

Issuers showing target-side patterns from filings

  • 56 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 56 activism filings

Pressure Watch

49/100

Issuers facing activism, governance, or control pressure

  • 56 activism filings
  • Latest activism 1.6y ago

Distress Watch

18/100

Issuers showing financial-distress filing patterns

  • 56 activism filings

Restatement Risk

39/100

Issuers with accounting-integrity flags from filings

  • 3 non-reliance 8-Ks
  • 10 NT late filings
  • Latest event 3.1y ago; discounted

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 312 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $3.4B
  • 10-Q 40d ago
  • 3 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $133M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Horizontal Consolidation
    25%
  • Geographic Expansion
    25%
  • Platform
    25%
  • Bolt On
    25%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • horizontal_consolidation
  • geographic_expansion
  • platform
  • bolt_on
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

Local providers of competing services and products may also have a substantial advantage in attracting customers in their countries due to more established branding in that country, greater knowledge with respect to the tastes and preferences of customers residing in that country and/or their focus on a single market.

10-KFY2024

Because of the potential for consolidation in any market, the Company's competitors may become larger, which could make them more efficient and permit them to be more price-competitive.

10-KFY2019

In addition, some of these companies may have a dominant market share in their territories and may be owned by local stakeholders.

10-KFY2024
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Software & IT

Market spend (2023–2025)
$217.7B
Market spend (2020–2022)
$197.1B
Recent vs prior
+10%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

7.5×EV / EBITDA

DBD trades at a -6.8-turn discount to the Software & IT peer median of 14.3×.

EV / Revenue
0.9×
Net debt / EBITDA
1.3×
Peer median EV / EBITDA
14.3×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
23.4×10.7×0.2×$64.1B$27.7B
15.5×9.8×0.0×$318.3B$75.4B
14.3×4.4×0.6×$41.5B$12.1B
11.0×3.7×-0.1×$6.4B$1.7B
7.6×2.8×0.1×$21.1B$10M
Diebold Nixdorf, IncorporatedDBD
7.5×0.9×1.3×$3.9BN/A

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Software & IT. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)312026-02-12
  • 10-Q (quarterly)962026-04-30
  • 8-K (event)3122026-04-30
  • Proxy / DEF 14A512026-04-02
  • Activism (13D / DFAN / PREC)562024-10-22

Signals on file

  • critical

    Non-reliance disclosure

    2008-02-08

    3 Item 4.02 filings on file; financial-statement non-reliance.

  • watch

    Late-filing notice

    2023-05-10

    10 NT 10-K/10-Q filings on file.

  • elevated

    Activism on file

    2024-10-22

    56 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Restatement risk

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.