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IT services · Technology · Fiscal year ends Mar 31
DXC Technology reported revenue of $12.6B in the fiscal year ended Mar 2026, down 1.8% from the year before. Operating income was $970M, an operating margin of 7.7%, and net income was $18M. Operating cash flow of $1.2B less capital expenditure of $212M left free cash flow of $1B. Net debt was $1.3B.
Ranks among the 36 it services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 16,265 | 14,430 | 13,667 | 12,871 | 12,644 |
| Cost of revenue | 12,683 | 11,246 | 10,576 | 9,770 | 9,613 |
| Gross profit | 3,582 | 3,184 | 3,091 | 3,101 | 3,031 |
| Selling, general & admin | 1,408 | 1,375 | 1,244 | 1,348 | 1,402 |
| Operating income | 1,375 | 1,136 | 1,009 | 1,019 | 970 |
| Interest expense | 204 | 200 | 298 | 265 | 216 |
| Pre-tax income | 1,141 | −885 | 109 | 630 | 318 |
| Income tax | 405 | −319 | 23.0 | 234 | 290 |
| Net income | 718 | −568 | 91.0 | 389 | 18.0 |
| Diluted EPS | 2.81 | −2.48 | 0.46 | 2.10 | 0.10 |
| Diluted shares | 255 | 229 | 199 | 185 | 179 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 2,672 | 1,858 | 1,224 | 1,796 | 1,737 |
| Receivables | 3,854 | 3,441 | 3,253 | 2,972 | 2,973 |
| Current assets | 7,446 | 6,124 | 5,135 | 5,363 | 5,362 |
| Net PP&E | 2,412 | 1,979 | 1,671 | 1,253 | 1,122 |
| Goodwill | 617 | 539 | 532 | 526 | 527 |
| Total assets | 20,139 | 15,845 | 13,871 | 13,205 | 12,890 |
| Payables | 840 | 782 | 846 | 549 | 561 |
| Deferred revenue | 1,053 | 1,054 | 866 | 762 | 748 |
| Current liabilities | 6,853 | 5,187 | 4,394 | 4,411 | 3,939 |
| Short-term debt | 249 | 176 | 93.0 | – | – |
| Long-term debt | 4,065 | 3,900 | 3,818 | 2,996 | 3,032 |
| Total liabilities | 14,764 | 12,025 | 10,805 | 9,715 | 9,681 |
| Shareholders' equity | 5,052 | 3,497 | 2,811 | 3,229 | 2,941 |
| Backlog (remaining obligations) | 22,000 | 19,700 | 17,700 | 16,900 | 16,400 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 1,501 | 1,415 | 1,361 | 1,398 | 1,248 |
| Capital expenditure | 254 | 267 | 182 | 248 | 212 |
| Free cash flow | 1,247 | 1,148 | 1,179 | 1,150 | 1,036 |
| Depreciation & amortisation | 1,742 | 1,551 | 1,433 | 1,313 | 1,182 |
| Stock-based compensation | 101 | 108 | 109 | 79.0 | 86.0 |
| Acquisitions | 0.0 | 0.0 | – | – | – |
| Share buybacks | 628 | 669 | 898 | 14.0 | 249 |
| Dividends paid | 0.0 | 0.0 | – | – | – |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −11.3% | −5.3% | −5.8% | −1.8% |
| Operating income growth (YoY) | – | −17.4% | −11.2% | 1.0% | −4.8% |
| EPS growth (YoY) | – | −188.3% | – | 356.5% | −95.2% |
| Gross margin | 22.0% | 22.1% | 22.6% | 24.1% | 24.0% |
| Operating margin | 8.5% | 7.9% | 7.4% | 7.9% | 7.7% |
| Net margin | 4.4% | −3.9% | 0.7% | 3.0% | 0.1% |
| Return on equityBlank when equity is negative | 14.2% | −16.2% | 3.2% | 12.0% | 0.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 10.3% | 10.7% | 10.6% | 11.6% | 10.8% |
| Free cash flow margin | 7.7% | 8.0% | 8.6% | 8.9% | 8.2% |
| Cash conversion (CFO ÷ net income) | 2.09x | −2.49x | 15.0x | 3.59x | 69.3x |
| Receivable days | 86 | 87 | 87 | 84 | 86 |
| Payable days | 24 | 25 | 29 | 21 | 21 |
| Interest cover | 6.74x | 5.68x | 3.39x | 3.85x | 4.49x |
| Debt ÷ equity | 0.85x | 1.17x | 1.39x | 0.93x | 1.03x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,642 | 2,218 | 2,687 | 1,200 | 1,295 |
| Current ratio | 1.09x | 1.18x | 1.17x | 1.22x | 1.36x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.