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what it is
Unisys helps big organizations move, run, and secure old and new computer systems.
how it gets paid
Last year Unisys made $2.0B in revenue. digital workplace services was the main engine at $0.74B, or 37% of sales.
why growth slowed
FY2024 GAAP net loss was ~$193M, or ~($2.79) per diluted share, including pension settlement and goodwill impairment items called out in the 10-K—not a random “-$5.06” placeholder.
what just happened
Use the latest 10-Q for quarterlies—do not trust old “$1.4B revenue” placeholders on this page; they were inconsistent with the FY2024 consolidated total.
At a glance
C balance sheet — red flag territory — real financial stress
15/100 earnings predictability — expect surprises
3.4x trailing p/e — the market's not buying it — or you found a deal
FY2024 operating cash flow ~$135M — liquidity matters alongside GAAP losses
-$4.79 fy2025 eps est
xvary composite: 25/100 — weak
What they do
Unisys helps big organizations move, run, and secure old and new computer systems.
Unisys sells managed services, modernization, and high-intensity computing solutions into large enterprises and governments. FY2024 results were as much about pension settlement accounting and capital structure as about “operating momentum”—read cash flow and debt footnotes, not vibes.
How they make money
~$2.01B
FY2024 consolidated revenue · −0.3% YoY (Form 10-K)
Digital workplace solutions (DWS)
~$524M
−4.1%
Cloud, applications & infrastructure (CA&I)
~$527M
−0.8%
Enterprise computing solutions (ECS)
~$651M
+0.5%
Other / non-segment (reconciliation)
~$308M
The products that matter
end-user outsourcing & workplace services
Digital workplace solutions
~$524M FY2024 · ~26% of consolidated
DWS revenue fell ~4.1% YoY in FY2024 and carried a goodwill impairment charge in the 10-K narrative—this is the “messy core” of the services story.
reportable segment
cloud migration, apps, infrastructure
CA&I
~$527M FY2024
Roughly flat YoY (−0.8%) on revenue with improving segment gross margin in management’s discussion—still not a hypergrowth line item in dollars.
reportable segment
ClearPath, high-intensity compute, related software
Enterprise computing solutions
~$651M FY2024 · highest segment gross %
ECS is the smallest top-line bucket by name but the highest gross-profit-percent segment—hardware mix can compress margin quarter to quarter.
reportable segment
Key numbers
~$493M
total debt
Dec 31, 2024 total debt per MD&A (~$493M) vs. long-term debt ~$488M on the face of the balance sheet—use Note 15 for maturities.
~4.8%
GAAP op. margin
FY2024 operating profit ~$97M on ~$2.01B revenue (~4.8%) before the pension settlement noise hits net income.
~29%
gross margin
FY2024 gross margin ~29.2% per the FY2024 results materials—up year over year, but not enough to offset below-the-line items by itself.
~($2.79)
GAAP EPS FY2024
Net loss attributable to Unisys ~$193.4M; diluted share count in the 10-K drives ~($2.79) EPS—includes pension settlement and impairment items.
Financial health
C
strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt ~$488M long-term debt · ~$493M total debt (Dec 31, 2024)
C — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for UIS right now.
source: institutional data · return history unavailable
What just happened
FY2024 filed
FY2024 revenue ~$2.01B (−0.3% YoY); GAAP EPS ~($2.79) including pension settlement and impairment items.
Operating cash flow was ~$135M and free cash flow ~$55M in FY2024 (company materials)—liquidity and covenant availability matter as much as GAAP net income here.
~$2.01B
FY2024 revenue
~($2.79)
GAAP diluted EPS
~$135M
operating cash flow
the number that mattered
Below-the-line pension settlement losses can dominate GAAP EPS even when gross margin and operating profit improve—read the MD&A bridge, not one headline.
sources: Unisys FY2024 results (PR Newswire, Feb 2025) · Form 10-K (Dec 31, 2024, SEC CIK 746838) for segment tables, debt, and EPS
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What could go wrong
UIS does not need a dramatic collapse to hurt you. Another year of shrinking sales, paired with a debt-heavy balance sheet and occasional nine-figure charges, is enough.
med
shrinking revenue in a growing market
FY2024 consolidated revenue slipped ~0.3% YoY to ~$2.01B while segments diverged—execution vs. market growth matters more than TAM slogans.
If the market grows and you still shrink, that usually points to share loss or weak execution, not bad luck.
med
balance-sheet pressure
Dec 31, 2024: total debt ~$493M and long-term debt ~$488M per the 10-K/MD&A—heavy versus equity, but not the old $760M typo.
Debt does not need to break the company to hurt you. It only needs to limit flexibility while the operating business is weak.
med
pension liability volatility
FY2024 included a large U.S. pension settlement loss (~$130.1M pre-tax in the 10-K narrative). Future annuity transactions can create additional non-cash settlement charges.
A charge that large can bury any improvement in the operating business and reset how investors think about risk.
med
cybersecurity disclosure credibility
The SEC charged Unisys in October 2024 over misleading cybersecurity disclosures, resulting in a settlement.
For a company selling IT and security-related services, trust damage can show up in sales conversations before it shows up in a filing.
A ~$2.0B revenue company with ~$0.5B total debt and recurring pension complexity does not have much room for another large non-cash shock—track covenants and FCF, not just the stock price.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
whether $2.0B holds
The FY2026 revenue estimate sits around $2.0B while management is already guiding lower. If reported revenue lands below that level, the turnaround thesis loses another support beam.
calendar
Q1 2026 earnings report
Expected around April 28, 2026. You want to see whether the decline guide is flattening out or just getting started.
risk
whether the pension shock was one-off
Pension settlement accounting can dominate GAAP EPS even when gross margin improves—track MD&A bridges and future contribution estimates.
trend
DWS weakness vs. ECS stability
FY2024 segment revenue moved −4.1% (DWS), −0.8% (CA&I), and +0.5% (ECS). If DWS weakness persists, the turnaround narrative has nowhere to hide.
Analyst rankings
earnings predictability
15 / 100
in human-speak, analysts do not view these earnings as stable. If you own it, expect surprises.
price stability
5 / 100
This stock has been highly unstable. If you own it, sharp moves are part of the package.
risk rank
5
Safer than 5% of stocks. Translation: almost everything screens as safer than UIS right now.
source: institutional data
Institutional activity
institutional ownership data for UIS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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