Detailed financial statements for DXC Technology Company (DXC): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
DXC Technology Company, along with its affiliated entities, delivers a comprehensive suite of IT solutions and services across various global regions, with a significant presence in North America, Europe, Asia, and Australia. The company structures its operations into two primary divisions: Global Business Services (GBS) and Global Infrastructure Services (GIS).
Analysis Summary
DXC Technology Company reported revenue of $12.64B in the most recent fiscal year, growing at a 5-year CAGR of -4.9%. Net income reached $18.0M, with a -52.2% 5-year CAGR.
Trailing-twelve-month margins: gross margin 15.3%, operating margin 2.8%, net margin 0.9%.
At $14.76 (closing price, November 2, 2026), DXC trades at a P/E of 21.39 and an ROE of 3.67%. Market capitalisation stands at $2.4B.
Balance sheet quality for DXC: debt-to-equity ratio of 1.21, current ratio of 1.15 over the last 12 months, net debt of $2.51B at the end of the last fiscal year. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $1.04B represents 5756% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.61B | $21.73B | $20.75B | $19.58B | $16.27B | $16.27B | $14.43B | $13.67B | $12.87B | $12.64B |
| Cost of Revenue | $5.54B | $16.32B | $14.95B | $16.91B | $12.68B | $12.68B | $11.25B | $10.58B | $9.77B | $10.77B |
| Gross Profit | $2.06B | $5.42B | $5.81B | $2.66B | $3.58B | $3.58B | $3.18B | $3.09B | $3.10B | $1.87B |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $1.28B | $1.89B | $1.96B | $1.66B | $724.0M | $724.0M | $2.81B | $1.69B | $1.12B | $1.40B |
| Operating Expenses | $1.93B | $3.69B | $3.93B | $1.66B | $2.44B | $2.44B | $4.33B | $3.09B | $2.40B | $1.61B |
| Operating Income | $136.0M | $2.64B | $1.88B | $1.00B | $1.14B | $1.14B | -$1.14B | -$2.0M | $698.0M | $258.0M |
| EBITDA | $601.0M | $3.64B | $3.87B | -$2.88B | $3.33B | $3.09B | $866.0M | $1.84B | $2.21B | $1.69B |
| Interest Expense | $117.0M | $320.0M | $334.0M | $383.0M | $361.0M | $204.0M | $200.0M | $298.0M | $265.0M | $216.0M |
| Pre-tax Income | -$174.0M | $1.30B | $1.51B | -$5.23B | $1.14B | $1.14B | -$885.0M | $109.0M | $630.0M | $318.0M |
| Income Tax | -$74.0M | -$242.0M | $288.0M | $130.0M | $405.0M | $405.0M | -$319.0M | $23.0M | $234.0M | $290.0M |
| Net Income | -$123.0M | $1.75B | $1.26B | -$5.37B | $718.0M | $718.0M | -$568.0M | $91.0M | $389.0M | $18.0M |
| EPS | -$0.88 | $6.15 | $4.53 | -$20.72 | $2.83 | $2.87 | -$2.47 | $0.46 | $2.15 | $0.10 |
| EPS (Diluted) | -$0.88 | $6.04 | $4.47 | -$20.72 | $2.83 | $2.81 | -$2.47 | $0.46 | $2.10 | $0.10 |
| Shares Outstanding (Diluted) | 140.4 M | 289.8 M | 281.4 M | 258.6 M | 254.1 M | 255.2 M | 229.0 M | 198.8 M | 184.9 M | 178.7 M |
Income Statement (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|---|---|---|---|
| Revenue | $3.19B | $3.13B | $3.00B | $3.03B |
| Gross Profit | $759.0M | -$142.0M | $611.0M | $660.0M |
| Operating Income | $156.0M | -$89.0M | $241.0M | $32.0M |
| EBITDA | $513.0M | $11.0M | $567.0M | $400.0M |
| Net Income | $107.0M | -$141.0M | $122.0M | $24.0M |
| EPS | $0.61 | -$0.80 | $0.75 | $0.15 |
| EPS (Diluted) | $0.59 | -$0.78 | $0.73 | $0.15 |
Balance Sheet (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.26B | $2.59B | $2.90B | $3.68B | $2.67B | $2.67B | $1.86B | $1.22B | $1.80B | $1.74B |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $1.64B | $5.48B | $5.18B | $4.39B | $3.85B | $3.85B | $3.44B | $3.25B | $2.97B | $2.97B |
| Inventory | 0 | $1.08B | $627.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $3.25B | $9.62B | $9.09B | $8.99B | $7.45B | $7.45B | $6.12B | $5.13B | $5.36B | $5.36B |
| Property, Plant & Equipment | $903.0M | $3.36B | $3.18B | $4.97B | $3.54B | $3.54B | $2.89B | $2.40B | $1.89B | $1.78B |
| Goodwill | $1.85B | $7.62B | $7.61B | $2.02B | $617.0M | $617.0M | $539.0M | $532.0M | $526.0M | $527.0M |
| Intangible Assets | $1.79B | $7.18B | $5.94B | $6.61B | $3.38B | $3.38B | $2.57B | $2.13B | $1.64B | $1.61B |
| Total Assets | $8.66B | $33.92B | $29.50B | $26.01B | $20.14B | $20.14B | $15.85B | $13.87B | $13.21B | $12.89B |
| Accounts Payable | $410.0M | $1.51B | $1.67B | $1.60B | $840.0M | $840.0M | $782.0M | $846.0M | $549.0M | $561.0M |
| Short-term Debt | $701.0M | $1.30B | $1.94B | $1.76B | $611.0M | $611.0M | $285.0M | $93.0M | $757.0M | $428.0M |
| Total Current Liabilities | $2.95B | $9.85B | $9.34B | $7.89B | $6.85B | $6.85B | $5.19B | $4.39B | $4.41B | $3.94B |
| Long-term Debt | $2.23B | $6.09B | $4.83B | $8.07B | $4.60B | $4.60B | $3.61B | $3.58B | $2.84B | $2.95B |
| Total Liabilities | $6.50B | $20.08B | $17.77B | $20.88B | $14.76B | $14.76B | $12.03B | $10.80B | $9.71B | $9.68B |
| Retained Earnings | -$170.0M | $1.30B | $478.0M | -$5.18B | -$4.45B | -$4.45B | -$4.67B | -$3.84B | -$3.45B | -$2.94B |
| Total Equity | $1.89B | $13.49B | $11.38B | $4.79B | $5.05B | $5.05B | $3.50B | $2.81B | $3.23B | $2.94B |
| Total Debt | $2.96B | $8.01B | $7.41B | $11.49B | $6.17B | $6.17B | $5.37B | $4.87B | $4.55B | $4.25B |
| Net Debt | $1.70B | $5.42B | $4.51B | $7.81B | $3.50B | $3.50B | $3.51B | $3.64B | $2.75B | $2.51B |
| Working Capital | $297.0M | -$232.0M | -$247.0M | $1.09B | $593.0M | $593.0M | $937.0M | $741.0M | $952.0M | $1.42B |
Balance Sheet (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|---|---|---|---|
| Cash & Equivalents | $1.73B | $1.74B | $1.96B | $1.60B |
| Total Assets | $13.18B | $12.89B | $12.93B | $12.21B |
| Total Liabilities | $9.76B | $9.68B | $9.60B | $8.89B |
| Total Equity | $3.15B | $2.94B | $3.06B | $3.06B |
| Total Debt | $4.32B | $4.25B | $4.17B | $3.69B |
Cash Flow (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$100.0M | $1.78B | $1.26B | -$5.36B | -$149.0M | $718.0M | -$568.0M | $91.0M | $396.0M | $18.0M |
| Depreciation & Amortization | $658.0M | $2.01B | $2.02B | $1.96B | $1.99B | $1.74B | $1.55B | $1.43B | $1.31B | $1.16B |
| Stock-based Compensation | $75.0M | $93.0M | $74.0M | $68.0M | 0 | 0 | 0 | $109.0M | $79.0M | 0 |
| Change in Working Capital | $260.0M | $215.0M | -$1.81B | -$1.57B | -$857.0M | -$1.06B | -$689.0M | -$521.0M | -$540.0M | -$558.0M |
| Operating Cash Flow | $978.0M | $3.10B | $1.78B | $2.35B | $124.0M | $1.50B | $1.42B | $1.36B | $1.40B | $1.25B |
| Capital Expenditure | -$487.0M | -$763.0M | -$558.0M | -$585.0M | -$261.0M | -$254.0M | -$267.0M | -$407.0M | -$576.0M | -$212.0M |
| Acquisitions | -$431.0M | -$203.0M | -$430.0M | -$2.00B | $5.29B | $633.0M | $24.0M | $26.0M | $26.0M | $35.0M |
| Stock Repurchased | -$13.0M | -$132.0M | -$1.34B | -$736.0M | 0 | -$628.0M | -$669.0M | -$898.0M | -$14.0M | -$249.0M |
| Dividends Paid | -$78.0M | -$174.0M | -$210.0M | -$214.0M | -$53.0M | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | $491.0M | $2.34B | $1.23B | $1.76B | -$137.0M | $1.25B | $1.15B | $954.0M | $822.0M | $1.04B |
Cash Flow (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|---|---|---|---|
| Operating Cash Flow | $414.0M | $239.0M | $418.0M | $217.0M |
| Capital Expenditure | -$55.0M | -$70.0M | -$59.0M | -$74.0M |
| Free Cash Flow | $359.0M | $169.0M | $359.0M | $143.0M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $23.0M | 0 | $17.0M | $16.0M |
Growth & Margins (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +185.7% | -4.5% | -5.7% | -16.9% | +0.0% | -11.3% | -5.3% | -5.8% | -1.8% | |
| Net Income Growth (YoY) | +1,523.6% | -28.2% | -527.1% | +113.4% | +0.0% | -179.1% | +116.0% | +327.5% | -95.4% | |
| EPS Growth (YoY) | +798.9% | -26.3% | -557.4% | +113.7% | +1.4% | -186.1% | +118.6% | +367.4% | -95.3% | |
| Shares Change (YoY) | +106.4% | -2.9% | -8.1% | -1.7% | +0.4% | -10.3% | -13.2% | -7.0% | -3.4% | |
| FCF Growth (YoY) | +377.0% | -47.7% | +44.1% | -107.8% | +1,010.2% | -7.9% | -16.9% | -13.8% | +26.0% | |
| Gross Margin | 27.1% | 24.9% | 28.0% | 13.6% | 22.0% | 22.0% | 22.1% | 22.6% | 24.1% | 14.8% |
| Operating Margin | 1.8% | 12.1% | 9.1% | 5.1% | 7.0% | 7.0% | -7.9% | -0.0% | 5.4% | 2.0% |
| EBITDA Margin | 7.9% | 16.7% | 18.7% | -14.7% | 20.5% | 19.0% | 6.0% | 13.5% | 17.2% | 13.4% |
| Net Margin | -1.6% | 8.1% | 6.1% | -27.4% | 4.4% | 4.4% | -3.9% | 0.7% | 3.0% | 0.1% |
| FCF Margin | 6.5% | 10.8% | 5.9% | 9.0% | -0.8% | 7.7% | 8.0% | 7.0% | 6.4% | 8.2% |
| Effective Tax Rate | 42.5% | -18.6% | 19.0% | -2.5% | 35.5% | 35.5% | 36.0% | 21.1% | 37.1% | 91.2% |
Per-Share Data (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $3.50 | $8.08 | $4.35 | $6.83 | -$0.54 | $4.89 | $5.01 | $4.80 | $4.45 | $5.80 |
| Dividends Per Share | $0.56 | $0.60 | $0.75 | $0.83 | $0.21 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | 139.8 M | 284.9 M | 277.5 M | 258.6 M | 254.1 M | 250.0 M | 229.0 M | 195.8 M | 180.7 M | 175.0 M |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Profitability
| Return on Equity | 3.67% |
| Return on Invested Capital | 0.99% |
| Return on Assets | 0.92% |
| Gross Margin | 15.28% |
| Operating Margin | 2.75% |
| Net Margin | 0.91% |
Financial Health
| Debt / Equity | 1.21 |
| Current Ratio | 1.15 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 1.00 |
Key Ratios (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -64.97 | 16.35 | 14.49 | -0.63 | 11.05 | 11.37 | -10.35 | 45.72 | 7.93 | 125.70 |
| P/B | 4.23 | 2.12 | 1.60 | 0.71 | 1.57 | 1.61 | 1.67 | 1.46 | 0.95 | 0.75 |
| P/S | 1.05 | 1.32 | 0.88 | 0.17 | 0.49 | 0.50 | 0.41 | 0.30 | 0.24 | 0.17 |
| Gross Margin | 27.1% | 24.9% | 28.0% | 13.6% | 22.0% | 22.0% | 22.1% | 22.6% | 24.1% | 14.8% |
| Operating Margin | 1.8% | 12.1% | 9.1% | 5.1% | 7.0% | 7.0% | -7.9% | -0.0% | 5.4% | 2.0% |
| Net Margin | -1.6% | 8.1% | 6.1% | -27.4% | 4.4% | 4.4% | -3.9% | 0.7% | 3.0% | 0.1% |
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Explore sector: Technology · Information Technology Services
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