DXC Technology
DXC NYSE IT Consulting & Other Services Financials FY2017–FY2026
DXC Technology's revenue fell 1.8% to $12.6 billion in fiscal 2026. Its operating margin was 7.7%, down from 7.9% a year earlier. Free cash flow was $1.0 billion, down 9.9%. It paid out $249 million in dividends and buybacks, 24% of free cash flow. The diluted share count fell 3.4%.
About these figures. DXC was formed in April 2017 when Computer Sciences Corporation merged with Hewlett Packard Enterprise's services business, so fiscal 2017 (to March 2017) is Computer Sciences Corporation alone.
What DXC Technology does
DXC Technology is an IT services company. Large businesses and public sector organizations pay it to run and update their computer systems, to build and modernize software, and to run insurance software. It has about 115,000 employees in 60 countries, and its customers include many very large companies. It sells through its own direct sales force. It was formed in 2017 by the merger of CSC and HP Enterprise Services.
It has three segments. Consulting & Engineering Services does software engineering, consulting and custom applications. Global Infrastructure Services designs, moves and runs data center, mainframe, cloud and network systems, and also handles workplace support and business process work such as finance and HR tasks. Insurance Software & Services sells software and related services to life, property and casualty, and reinsurance companies. DXC says it is adding AI and automation to all three.
No single customer made up even a tenth of its revenue in fiscal 2026. DXC competes with large multinational IT firms, smaller specialist firms, offshore providers in lower-cost places such as India, and the in-house technology teams of its customers. It plans to exit most of its own data centers and move to outside providers.
- Legal name
- DXC TECHNOLOGY COMPANY
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 10-K · May 8, 2026
- Accession · CIK
- 0001688568-26-000022
0001688568
Revenue and margins
DXC Technology had $12.6B of revenue in fiscal 2026, down 1.8% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $1.0B in fiscal 2026, 8.2% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
DXC Technology returned $249M to shareholders in fiscal 2026, 24% of free cash flow. The diluted share count fell 3.4%.
Value DXC Technology yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$1.8B and divides by 178.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 21.2x · peers 20.6x · sector 33.5x.
Balance sheet
Cash, debt and the ratios that show how comfortably DXC Technology can carry it.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.7B | $1.9B | $1.2B | $1.8B | $1.7B |
| Debt incl. finance leases | $5.0B | $4.4B | $4.1B | $3.9B | $3.6B |
| Net debt / EBITDA | 0.7x | 1.0x | 1.2x | 0.9x | 0.8x |
| Debt / equity | 1.0x | 1.3x | 1.5x | 1.2x | 1.2x |
| Interest coverage | 6.7x | 5.7x | 3.4x | 3.9x | 4.5x |
| Current ratio | 1.1x | 1.2x | 1.2x | 1.2x | 1.4x |
| Quick ratio | 1.1x | 1.2x | 1.2x | 1.2x | 1.4x |
| Total assets | $20.1B | $15.8B | $13.9B | $13.2B | $12.9B |
| Total liabilities | $14.8B | $12.0B | $10.8B | $9.7B | $9.7B |
| Shareholders' equity | $5.1B | $3.5B | $2.8B | $3.2B | $2.9B |
| Net debt (− = net cash) | $2.3B | $2.5B | $2.9B | $2.1B | $1.8B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.5M
1 insider
Sold, 12 months
$0.0M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 11, 2026 | Raul J FernandezPresident and CEO, Director | Bought | 28,051 | $8.90 | $0.2M | Form 4 |
| Feb 2, 2026 | Raul J FernandezPresident and CEO, Director | Bought | 16,446 | $15.24 | $0.3M | Form 4 |
| Dec 11, 2025 | Christopher Anthony VociSVP, Controller and PAO | Sold | 2,500 | $15.15 | $0.0M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 | FY26 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✕ | ✕ | ✓ |
| Current ratio rose | ✕ | ✓ | ✓ |
| Share count didn't rise | ✓ | ✓ | ✓ |
| Gross margin rose | — | — | — |
| Revenue rose relative to assets | ✓ | ✓ | ✓ |
| F-score | 6 / 8 | 7 / 8 | 7 / 8 |
| Accruals ratio | −8.6% | −7.5% | −9.4% |
| Altman Z'' | 0.23 | 0.52 | 0.84 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| DXC Technology DXC | $2.7B | −1.8% | 7.7% | 8.2% | 9.2% | 21.2x | 7 | |
| Kyndryl KD | $3.3B | 0.2% | — | 2.3% | 7.8% | 39.9x | 6 | Compare → |
| Cognizant CTSH | $33.6B | 7.0% | 16.1% | 12.3% | 16.2% | 15.3x | 6 | Compare → |
| Gartner IT | $15.3B | 3.7% | 15.8% | 18.1% | 44.6% | 20.8x | 5 | Compare → |
| NCR Voyix VYX | $1.2B | −4.7% | 1.0% | −14.0% | 1.3% | 20.5x | 3 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $7.6B | $21.7B | $20.8B | $19.6B | $17.7B | $16.3B | $14.4B | $13.7B | $12.9B | $12.6B |
| Gross profit | $2.1B | $3.8B | — | — | — | — | — | — | — | — |
| Operating income | $618M | $3.0B | $3.3B | $2.1B | $1.1B | $1.4B | $1.1B | $1.0B | $1.0B | $970M |
| Interest expense | $117M | $320M | $334M | $383M | $361M | $204M | $200M | $298M | $265M | $216M |
| Pretax income | −$174M | $1.3B | $1.5B | −$5.2B | $654M | $1.1B | −$885M | $109M | $630M | $318M |
| Income tax | −$74.0M | −$242M | $288M | $130M | $800M | $405M | −$319M | $23.0M | $234M | $290M |
| Net income | −$123M | $1.8B | $1.3B | −$5.4B | −$149M | $718M | −$568M | $91.0M | $389M | $18.0M |
| Diluted EPS | −$0.88 | $6.04 | $4.47 | −$20.76 | −$0.59 | $2.81 | −$2.48 | $0.46 | $2.10 | $0.10 |
| Diluted shares | 0.14B | 0.29B | 0.28B | 0.26B | 0.25B | 0.26B | 0.23B | 0.20B | 0.18B | 0.18B |
| Cash flow | ||||||||||
| Cash from operations | $619M | $2.6B | $1.8B | $2.4B | $124M | $1.5B | $1.4B | $1.4B | $1.4B | $1.2B |
| Capital expenditure | $246M | $224M | $297M | $350M | $261M | $254M | $267M | $182M | $248M | $212M |
| Free cash flow | $373M | $2.3B | $1.5B | $2.0B | −$137M | $1.2B | $1.1B | $1.2B | $1.2B | $1.0B |
| Depreciation and amortization | $658M | $2.0B | $2.0B | $2.0B | $2.0B | $1.7B | $1.6B | $1.4B | $1.3B | $1.2B |
| Stock-based compensation | $75.0M | $93.0M | $74.0M | $68.0M | $56.0M | $101M | $108M | $109M | $79.0M | $86.0M |
| Acquisitions | $434M | $203M | $365M | $2.0B | $184M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $132M | $1.3B | $736M | $0.0M | $628M | $669M | $898M | $14.0M | $249M |
| Dividends paid | $78.0M | $174M | $210M | $214M | $53.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $78.0M | $306M | $1.6B | $950M | $53.0M | $628M | $669M | $898M | $14.0M | $249M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $1.3B | $2.6B | $2.9B | $3.7B | $3.0B | $2.7B | $1.9B | $1.2B | $1.8B | $1.7B |
| Total debt | $2.3B | $8.4B | $7.4B | $9.9B | $5.5B | $5.0B | $4.4B | $4.1B | $3.9B | $3.6B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $1.0B | $894M | $643M | $502M | $420M | $278M | $174M |
| Current assets | $3.2B | $9.6B | $9.1B | $9.0B | $8.2B | $7.4B | $6.1B | $5.1B | $5.4B | $5.4B |
| Current liabilities | $3.0B | $9.9B | $9.5B | $7.9B | $8.2B | $6.9B | $5.2B | $4.4B | $4.4B | $3.9B |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | $903M | $3.4B | $3.2B | $3.5B | $2.9B | $2.4B | $2.0B | $1.7B | $1.3B | $1.1B |
| Total assets | $8.7B | $33.9B | $29.6B | $26.0B | $22.0B | $20.1B | $15.8B | $13.9B | $13.2B | $12.9B |
| Total liabilities | $6.5B | $20.1B | $17.8B | $20.9B | $16.7B | $14.8B | $12.0B | $10.8B | $9.7B | $9.7B |
| Shareholders' equity | $1.9B | $13.5B | $11.4B | $4.8B | $5.0B | $5.1B | $3.5B | $2.8B | $3.2B | $2.9B |
| Margins | ||||||||||
| Gross margin | 27.1% | 17.4% | — | — | — | — | — | — | — | — |
| Operating margin | 8.1% | 13.8% | 15.8% | 10.5% | 6.2% | 8.5% | 7.9% | 7.4% | 7.9% | 7.7% |
| EBITDA margin | 16.8% | 23.0% | 25.5% | 20.5% | 17.4% | 19.2% | 18.6% | 17.9% | 18.1% | 17.0% |
| Net margin | −1.6% | 8.1% | 6.1% | −27.4% | −0.8% | 4.4% | −3.9% | 0.7% | 3.0% | 0.1% |
| FCF margin | 4.9% | 10.8% | 7.2% | 10.2% | −0.8% | 7.7% | 8.0% | 8.6% | 8.9% | 8.2% |
| Returns | ||||||||||
| Return on capital | — | 26.2% | 14.8% | 11.8% | 5.7% | 11.4% | 12.8% | 13.0% | 11.1% | 9.2% |
| Return on capital employed | — | 20.1% | 14.8% | 10.8% | 6.9% | 10.1% | 9.5% | 10.0% | 11.2% | 10.9% |
| Return on equity | −6.3% | 22.8% | 10.1% | −66.3% | −3.1% | 14.3% | −13.3% | 2.9% | 12.9% | 0.6% |
| Return on assets | −1.5% | 8.2% | 4.0% | −19.3% | −0.6% | 3.4% | −3.2% | 0.6% | 2.9% | 0.1% |
| Growth | ||||||||||
| Revenue growth | 7.1% | 185.7% | −4.5% | −5.7% | −9.4% | −8.3% | −11.3% | −5.3% | −5.8% | −1.8% |
| Net income growth | −149.0% | — | −28.2% | −527.1% | — | — | −179.1% | — | 327.5% | −95.4% |
| EPS growth | −149.4% | — | −26.0% | −564.4% | — | — | −188.3% | — | 356.5% | −95.2% |
| FCF growth | −16.4% | 528.2% | −36.6% | 34.6% | −106.9% | — | −7.9% | 2.7% | −2.5% | −9.9% |
| Share count change | −0.7% | 106.4% | −2.9% | −8.1% | −1.7% | 0.4% | −10.3% | −13.2% | −7.0% | −3.4% |
| Financial health | ||||||||||
| Net debt / EBITDA | 0.8x | 1.2x | 0.9x | 1.6x | 0.8x | 0.7x | 1.0x | 1.2x | 0.9x | 0.8x |
| Debt / equity | 1.2x | 0.6x | 0.7x | 2.1x | 1.1x | 1.0x | 1.3x | 1.5x | 1.2x | 1.2x |
| Interest coverage | 5.3x | 9.3x | 9.8x | 5.4x | 3.1x | 6.7x | 5.7x | 3.4x | 3.9x | 4.5x |
| Current ratio | 1.1x | 1.0x | 1.0x | 1.1x | 1.0x | 1.1x | 1.2x | 1.2x | 1.2x | 1.4x |
| Quick ratio | 1.1x | 1.0x | 1.0x | 1.1x | 1.0x | 1.1x | 1.2x | 1.2x | 1.2x | 1.4x |
| Capital allocation | ||||||||||
| Capex / revenue | 3.2% | 1.0% | 1.4% | 1.8% | 1.5% | 1.6% | 1.9% | 1.3% | 1.9% | 1.7% |
| Stock comp / revenue | 1.0% | 0.4% | 0.4% | 0.4% | 0.3% | 0.6% | 0.8% | 0.8% | 0.6% | 0.7% |
| Payouts / FCF | 20.9% | 13.1% | 104.6% | 47.5% | — | 50.4% | 58.3% | 76.2% | 1.2% | 24.0% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 5.0 | 5.0 | 5.0 | 6.0 | 6.0 | 4.0 | 6.0 | 7.0 | 7.0 |
| Altman Z'' | 1.0 | 1.4 | 1.4 | 0.4 | −0.1 | 0.3 | 0.2 | 0.2 | 0.5 | 0.8 |
| Accruals ratio | −9.1% | −3.8% | −1.7% | −27.8% | −1.1% | −3.7% | −11.0% | −8.6% | −7.5% | −9.4% |
Source: SEC EDGAR XBRL filings (CIK 0001688568). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.