XBP
XBP Global Holdings, Inc.Technology·Software - Infrastructure
$2.45
$23M market cap
Revenue
$404.1M
Free Cash Flow
$-5.4M
Rev Growth
+0.0%
FCF Margin
-1.3%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
XBP Global Holdings, Inc. is a pan-European integrator of bills, payments, and related solutions and services seeking to enable digital transformation of businesses. It provides business process management solutions with proprietary software suites and deep domain expertise, serving as a technology and services partner for its clients. It operates through the Bills and Payments, and Technology segments. The Bills and Payments segment focuses on optimizing how bills and payments are processed by
2-Year Price History
$2.68-83.6%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 197.1 | -0.2 | -15.1 | -26.8 | -5.0 | -6.6 | -1.1 | 28.5 | 72.2 | 11.8 | -72.4% | -0.0x | -- |
| Act | 2025-Q4 | 207.0 | 15.0 | -2.1 | -45.3 | 4.4 | 1.2 | -2.5 | 37.1 | 431.2 | 11.8 | -1.8% | 0.2x | -- |
Valuation & Metrics
Market Stats
Price$2.45
Market Cap$23M
Enterprise Value$67M
P/S Ratio0.1x
P/FCF--
EV/FCF--
FCF Margin (TTM)-1.3%
FCF Yield-23.2%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$404.1M
Net Income$-72.0M
Free Cash Flow$-5.4M
Revenue Growth (YoY)+0.0%
EBITDA Margin3.7%
Net Margin-17.8%
FCF Margin-1.3%
CapEx % of Revenue0.9%
SBC % of Revenue0.3%
ROIC-37.1%
WC Change % Rev3.7%
Interest Coverage0.1x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.0M
Days to Cover1.0
Change (vs Prior)-35.1%
Need at least 2 settlement dates for chart
Employees
Headcount1,310
Revenue / Employee$308,442
Gross Profit / Employee$45,962
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
95.1%(-53.6% YoY)
21 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
9.5%(-5.0% YoY)
7 filers
Vanguard, iShares, SPDR
Market makers
0.0%(+0.0% YoY)
1 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Gates Capital Management, Inc. | $14.0M | $6.81 | +$0 | +$14.0M | -1.5% | $2.90B |
| HoldCo Asset Management, LP | $3.5M | $6.81 | +$0 | +$3.5M | -0.9% | $1.34B |
| CANTOR FITZGERALD, L. P. | $3.4M | $6.81 | −$195K | +$3.4M | -3.0% | $2.75B |
| BlackRock, Inc.Passive | $765K | $6.76 | +$14K | +$765K | -0.2% | $5.69T |
| Allianz Asset Management GmbH | $743K | $6.81 | +$0 | +$743K | -0.2% | $86.14B |
| BANK OF AMERICA CORP /DE/ | $695K | $6.81 | −$0 | +$695K | -0.1% | $1.36T |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $563K | $6.70 | +$26K | +$563K | +2.3% | $1.61T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $563K | $4.40 | +$563K | +$563K | — | $4.04T |
| B. Riley Financial, Inc. | $324K | $4.40 | +$324K | +$324K | +1.9% | $456M |
| VANGUARD FIDUCIARY TRUST COPassive | $254K | $4.40 | +$254K | +$254K | — | $395.83B |
| CastleKnight Management LP | $249K | $6.81 | −$197K | +$249K | +1.2% | $2.13B |
| Jefferies Financial Group Inc. | $240K | $6.81 | −$67K | +$240K | -1.6% | $7.90B |
| National Philanthropic Trust | $130K | $6.81 | −$18K | +$130K | +0.5% | $9.26B |
| NORTHERN TRUST CORPPassive | $111K | $6.81 | +$0 | +$111K | -0.2% | $755.34B |
| Shay Capital LLC | $110K | $6.17 | +$29K | +$110K | +0.3% | $704M |
| STATE STREET CORPPassive | $100K | $6.81 | +$0 | +$100K | -0.2% | $2.89T |
| Alpine Global Management, LLC | $95K | $6.81 | −$57K | +$95K | +3.1% | $566M |
| BROOKFIELD ASSET MANAGEMENT INC. | $87K | $6.81 | −$0 | +$87K | -0.8% | $74.23B |
| GOLDMAN SACHS GROUP INC | $76K | $6.48 | +$10K | +$76K | -0.2% | $760.93B |
| Crewe Advisors LLC | $29K | $4.40 | +$29K | +$29K | +0.4% | $1.17B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-1.45%
avg per quarter
Holders (ex-self)
-1.44%
excl. this stock
Buyers (this Q)
+1.74%
7 buyers · $0.00B in
Sellers (this Q)
-1.71%
9 sellers · $0.00B out
alpha coverage: 97% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-1.9%
how holders react when this stock falls
On quiet Qs
-5.1%
−10% to +10% baseline
On rallies (+10%+)
-12.9%
how they react when this stock rises
Holders' portfolio flow this Q
-2.8%
outflows — trims may be forced
Sellers' portfolio flow this Q
-5.1%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+5.5%
Holder mid (any stock)
-5.1%
Holder rally (any stock)
-12.9%
Biggest decreases this quarter
CastleKnight Management LP−$197Kα+1.2CANTOR FITZGERALD, L. P.−$195Kα-3.0CITADEL ADVISORS LLCexited−$152KJefferies Financial Group Inc.−$67Kα-1.6Alpine Global Management, LLC−$57Kα+3.1National Philanthropic Trust−$18Kα+0.5ROYAL BANK OF CANADAexited−$1KBARCLAYS PLC−$0α-0.1BANK OF AMERICA CORP /DE/−$0α-0.1BROOKFIELD ASSET MANAGEMENT INC.−$0α-0.8
New buyers this quarter
Top-5 holders · 86.0%
Gates Capital Management, Inc.--
HoldCo Asset Management, LP--
CANTOR FITZGERALD, L. P.--
BlackRock, Inc.--
Allianz Asset Management GmbH--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Gates Capital Management, Inc.3.2MCANTOR FITZGERALD, L. P.767KHoldCo Asset Management, LP787KAllianz Asset Management GmbH169KBANK OF AMERICA CORP /DE/158KCastleKnight Management LP57KJefferies Financial Group Inc.55KB. Riley Financial, Inc.74KAlpine Global Management, LLC22KNational Philanthropic Trust30K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (1 analysts)$5.0010410.0%
Last Year (1 analysts)$5.0010410.0%
Current Price$2.45
Analyst Ratings
1
Buy: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$141K
2 txns · 1 insider · 175,000 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$4.43M
1 txn · 1 insider · 6,449,404 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-19 | BUY | Klein Randal T | director | 25,000 | $2.44 | $61K | $98K |
| 2025-10-06 | SELL | LUTNICK HOWARD W | 10 percent owner | 6,449,404 | $0.69 | $4.43M | $0 |
| 2025-08-18 | BUY | Klein Randal T | director | 150,000 | $0.54 | $80K | $80K |
Order Flow (FINRA, ~3w lag)
42.4%retail-0.7pp
7.3%dark-0.6pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
XBP Global Holdings: The Fresh Start that Spoiled in Two Months
Overall Risk
9/10
Fraud
4/10
Dilution
7/10
Insolvency
8/10
Earnings Overstated
9/10
Hidden Liabilities
6/10
Legal
7/10
Audit Warnings
8/10
Hidden Upside
3/10
Contextually Acceptable
2/10