UISNYSEServices-Computer Integrated Systems DesignUS GAAP · USD

Unisys Corporation New

Unisys Corp. is a U.S.-based information technology services company that designs, integrates, and manages enterprise systems, software, infrastructure, and workflows. Its business spans digital workplace services, cloud and infrastructure modernization, and enterprise computing solutions for organizations operating in complex, regulated environments across global markets.

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Revenue1,950m USD
−2.9 %y/y
Operating profit (EBIT)78.5m USD
−19.4 %y/y
EBIT margin4.0%
−0.8 ppy/y
Net income-340m USD
−75.7 %y/y
Free cash flow-170m USD
−265.4 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

05001,0001,5002,0002,500m USD2020: 2,026 m USD2020: EBIT 87 m USD20202021: 2,054 m USD2021: EBIT 154 m USD20212022: 1,980 m USD2022: EBIT 52 m USD20222023: 2,015 m USD2023: EBIT 77 m USD20232024: 2,008 m USD2024: EBIT 97 m USD20242025: 1,950 m USD2025: EBIT 79 m USD20251,95079
RevenueOperating profit (EBIT)
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Business

Share of revenue
Digital Workplace Solutions30 %

Services and tools that support end-user computing, workplace modernization, and digital employee experiences.

Cloud, Applications & Infrastructure Solutions40 %

Modernization, integration, and management of cloud, applications, and core infrastructure environments.

Enterprise Computing Solutions30 %

High-intensity enterprise computing, software-defined environments, and related software license/support offerings.

Products

Reported · share of revenue
82.6%17.4%FY2025100 %
  • Services and other82.6 %
  • Technology Service17.4 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Unisys sells primarily to enterprises, financial institutions, and public sector organizations that need to modernize complex IT environments. Customers typically buy the company’s services to improve security, integrate legacy and cloud systems, and execute large-scale technology migrations with minimal disruption.

Enterprise clients

Buy cloud, workplace, and infrastructure services to modernize heterogeneous IT estates and workflows.

Financial institutions

Use secure computing, integration, and support services for regulated, mission-critical environments.

Public sector organizations

Purchase IT services and modernization support for government and citizen-facing systems.

Installed-base software customers

Renew software licenses and support, especially around ClearPath Forward and related offerings.

Strategy

Unisys focuses on aligning its portfolio around workplace, cloud/infrastructure, and enterprise computing solutions to better match client needs. It also emphasizes direct sales, partner-led solutions, and AI-enabled delivery to improve win rates, cross-sell across accounts, and support large renewal relationships.

Segment alignment and portfolio integrationShort term

Helps the company package services around client workflows and reduce internal silos.

Installed-base retention and renewal expansionShort term

A large share of revenue depends on renewing and expanding existing client relationships.

AI-enabled delivery and solution enhancementMedium term

Improves competitiveness, delivery quality, and efficiency in complex service engagements.

Global delivery and modernization executionMedium term

Supports large-scale migration and modernization projects for regulated clients worldwide.

Geography

Unisys operates globally, with delivery and employee presence spread across the United States, India, and other international markets. The company reports a larger share of revenue from international operations than from the U.S., which makes foreign exchange, local regulation, and cross-border delivery important to its business model.

Risks

Unisys depends heavily on its installed base, so weak renewals or difficulty winning new work can pressure revenue. The business also faces cybersecurity, supplier, geopolitical, and trade-related risks because it operates in complex IT environments and relies on global delivery and third-party technology inputs.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Installed-base concentration1Cybersecurity and IT system breaches2Goodwill impairment3Geopolitical and trade disruption4Supplier concentration and component availability5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Installed-base concentrationImpact: HighLikelihood: High

    A significant portion of revenue comes from existing clients and renewals.

    Exposure: Revenue retention and cross-sell

  2. Cybersecurity and IT system breachesImpact: HighLikelihood: High

    The company handles sensitive client environments and its own systems are exposed to attack.

    ExposureClient trustLegal liabilityRemediation costs
  3. Goodwill impairmentImpact: HighLikelihood: High

    Reporting units can be impaired if fair value falls below carrying value.

    Exposure: DWS reporting unit

  4. Geopolitical and trade disruptionImpact: MediumLikelihood: Medium

    Global delivery and sourcing expose the company to tariffs, policy shifts, and cross-border friction.

    ExposureCostsSupply chainsClient demand
  5. Supplier concentration and component availabilityImpact: MediumLikelihood: Low

    Certain technology products rely on single or limited suppliers worldwide.

    Exposure: Delivery timing and product availability

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Accounting

Judgemental items
Revenue recognition for bundled contracts

Contracts may include multiple performance obligations and non-standard terms.

Impact: Affects timing and allocation of revenue across periods

Goodwill impairment testing

Reporting units are tested for recoverability when triggering events occur.

Impact: Can create large non-cash charges, especially in DWS

Pension settlement accounting

Group annuity transactions can trigger settlement losses.

Impact: Creates material one-time charges in operating results

Deferred tax asset valuation allowance

Most deferred tax assets are offset by a large valuation allowance.

Impact: Influences tax provision and reported net income

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Last updated: 24/09/2026