DXC Technology Company (DXC) Cash Flow Statement
Where DXC’s cash came from and went, FY2026
March 31, 2026 · U.S. dollars- Cash from operations
- $1.25B −10.7% vs FY2025
- Capital expenditures
- $212.0M 1.7% of revenue
- Free cash flow
- $1.04B 8.2% margin
- Returned to shareholders
- $249.0M 24% of free cash flow
- Change in cash
- −$59.0M cash at year-end $1.74B
Cash from operations
$1.25B
Capital expenditures
−$212.0M
Acquisitions & other
−$272.0M
Share buybacks (net)
−$249.0M
Net borrowing (repayment)
−$508.0M
Other financing
−$19.0M
Currency & other
−$47.0M
Change in cash
−$59.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
DXC operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
DXC cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $978.0MFY2017 | $1.25BFY2026 | +2.7%/yr | |
| Capital expenditures | $487.0MFY2017 | $212.0MFY2026 | −8.8%/yr | |
| Free cash flow | $491.0MFY2017 | $1.04BFY2026 | +8.7%/yr | |
| Free cash flow margin | 6.5%FY2017 | 8.2%FY2026 | +1.7 pts | |
| Operating cash flow / net income | 1.74FY2018 | 69.33FY2026 | +67.59 | |
| Stock-based compensation | $75.0MFY2017 | $86.0MFY2026 | +1.5%/yr | |
| Dividends paid | $78.0MFY2017 | $2.0MFY2023 | −45.7%/yr | |
| Share buybacks (net) | $13.0MFY2017 | $249.0MFY2026 | +38.8%/yr | |
| Capex / revenue | 6.4%FY2017 | 1.7%FY2026 | −4.7 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DXC cash flow by activity
OperatingInvestingFinancingChange in cash
DXC net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
DXC cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $18.0M | $396.0M | $91.0M | −$568.0M | $718.0M | −$146.0M | −$5.36B | $1.26B | $1.78B | −$100.0M |
| Depreciation & amortization | $1.16B | $1.31B | $1.43B | $1.63B | $1.83B | $1.99B | $1.96B | $2.02B | $2.01B | $658.0M |
| Stock-based compensation | $86.0M | $79.0M | $109.0M | $108.0M | $101.0M | $56.0M | $68.0M | $74.0M | $93.0M | $75.0M |
| Change in working capital | −$558.0M | −$540.0M | −$521.0M | −$689.0M | −$1.06B | −$817.0M | −$1.57B | −$1.81B | $215.0M | $260.0M |
| Other non-cash items | $542.0M | $150.0M | $249.0M | $937.0M | −$87.0M | −$957.0M | $7.25B | $236.0M | −$999.0M | $85.0M |
| Cash from operating activities | $1.25B | $1.40B | $1.36B | $1.42B | $1.50B | $124.0M | $2.35B | $1.78B | $3.10B | $978.0M |
| Investing activities | ||||||||||
| Capital expenditures | −$212.0M | −$576.0M | −$407.0M | −$267.0M | −$254.0M | −$515.0M | −$585.0M | −$558.0M | −$763.0M | −$487.0M |
| Investments (net) | — | −$512.0M | −$491.0M | −$635.0M | $24.0M | $4.67B | −$37.0M | $69.0M | −$33.0M | −$926.0M |
| Acquisitions & other investing | −$272.0M | $576.0M | $407.0M | $267.0M | $170.0M | $515.0M | −$1.51B | $558.0M | $977.0M | $487.0M |
| Cash from investing activities | −$484.0M | −$512.0M | −$491.0M | −$635.0M | −$60.0M | $4.67B | −$2.14B | $69.0M | $181.0M | −$926.0M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | −$2.0M | −$13.0M | −$53.0M | −$214.0M | −$210.0M | −$174.0M | −$78.0M |
| Share repurchases & issuance (net) | −$249.0M | −$14.0M | −$898.0M | −$669.0M | −$628.0M | $1.0M | −$736.0M | −$1.34B | −$132.0M | −$13.0M |
| Net borrowing (repayment) | −$508.0M | −$300.0M | −$533.0M | −$306.0M | −$3.03B | −$5.36B | $2.52B | −$1.07B | −$1.62B | $82.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$19.0M | −$3.0M | −$56.0M | −$530.0M | $1.86B | −$69.0M | −$915.0M | $963.0M | $34.0M | $102.0M |
| Cash from financing activities | −$776.0M | −$317.0M | −$1.49B | −$1.51B | −$1.82B | −$5.48B | $657.0M | −$1.66B | −$1.89B | $93.0M |
| Summary | ||||||||||
| Net change in cash | −$59.0M | $572.0M | −$634.0M | −$814.0M | −$296.0M | −$711.0M | $780.0M | $170.0M | $1.46B | $85.0M |
| Cash at end of period | $1.74B | $1.80B | $1.22B | $1.86B | $2.67B | $2.97B | $3.68B | $2.90B | $2.73B | $1.26B |
| Free cash flow | $1.04B | $822.0M | $954.0M | $1.15B | $1.25B | −$391.0M | $1.76B | $1.23B | $2.34B | $491.0M |
| Free cash flow margin | 8.2% | 6.4% | 7.0% | 8.0% | 7.7% | −2.2% | 9.0% | 5.9% | 10.8% | 6.5% |
| Capex / revenue | 1.7% | 4.5% | 3.0% | 1.9% | 1.6% | 2.9% | 3.0% | 2.7% | 3.5% | 6.4% |
| Operating cash flow / net income | 69.33 | 3.53 | 14.96 | — | 2.09 | — | — | 1.41 | 1.74 | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $126.0M | −$141.0M | $107.0M | $40.0M | $16.0M | $263.0M | $57.0M | $42.0M | $25.0M | −$200.0M | $140.0M | $99.0M |
| Depreciation & amortization | $271.0M | $278.0M | $283.0M | $302.0M | $309.0M | $318.0M | $327.0M | $335.0M | $333.0M | $349.0M | $357.0M | $368.0M |
| Stock-based compensation | $17.0M | $17.0M | $23.0M | $24.0M | $22.0M | $20.0M | $11.0M | $25.0M | $23.0M | $34.0M | $28.0M | $24.0M |
| Change in working capital | −$106.0M | −$167.0M | −$127.0M | −$73.0M | −$191.0M | −$283.0M | $204.0M | −$273.0M | −$188.0M | −$153.0M | $234.0M | −$260.0M |
| Other non-cash items | $110.0M | $252.0M | $128.0M | $116.0M | $30.0M | −$3.0M | $51.0M | $66.0M | $45.0M | $250.0M | −$53.0M | $17.0M |
| Cash from operating activities | $418.0M | $239.0M | $414.0M | $409.0M | $186.0M | $315.0M | $650.0M | $195.0M | $238.0M | $280.0M | $706.0M | $248.0M |
| Investing activities | ||||||||||||
| Capital expenditures | −$59.0M | −$70.0M | −$55.0M | −$44.0M | −$43.0M | −$77.0M | −$82.0M | −$41.0M | −$155.0M | −$86.0M | −$72.0M | −$53.0M |
| Investments (net) | — | — | — | −$145.0M | −$77.0M | −$169.0M | −$85.0M | −$70.0M | −$188.0M | −$124.0M | −$83.0M | −$85.0M |
| Acquisitions & other investing | −$40.0M | −$49.0M | −$88.0M | $44.0M | $43.0M | $77.0M | $82.0M | $41.0M | $155.0M | $86.0M | $72.0M | $53.0M |
| Cash from investing activities | −$99.0M | −$119.0M | −$143.0M | −$145.0M | −$77.0M | −$169.0M | −$85.0M | −$70.0M | −$188.0M | −$124.0M | −$83.0M | −$85.0M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | −$71.0M | −$61.0M | −$64.0M | −$76.0M | −$48.0M | −$2.0M | −$12.0M | −$1.0M | −$2.0M | −$143.0M | −$250.0M | −$220.0M |
| Net borrowing (repayment) | — | −$39.0M | −$362.0M | −$58.0M | −$49.0M | −$56.0M | −$77.0M | −$227.0M | — | — | — | −$84.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$49.0M | −$2.0M | −$2.0M | −$2.0M | −$13.0M | −$2.0M | $21.0M | −$2.0M | $43.0M | −$467.0M | −$106.0M | −$7.0M |
| Cash from financing activities | −$120.0M | −$102.0M | −$428.0M | −$136.0M | −$110.0M | −$60.0M | −$68.0M | −$230.0M | $41.0M | −$610.0M | −$356.0M | −$311.0M |
| Summary | ||||||||||||
| Net change in cash | $220.0M | $6.0M | −$157.0M | $96.0M | −$4.0M | $73.0M | $478.0M | −$72.0M | $93.0M | −$467.0M | $279.0M | −$164.0M |
| Cash at end of period | $1.96B | $1.74B | $1.73B | $1.89B | $1.79B | $1.80B | $1.72B | $1.25B | $1.32B | $1.22B | $1.69B | $1.41B |
| Free cash flow | $359.0M | $169.0M | $359.0M | $365.0M | $143.0M | $238.0M | $568.0M | $154.0M | $83.0M | $194.0M | $634.0M | $195.0M |
| Free cash flow margin | 12.0% | 5.4% | 11.2% | 11.5% | 4.5% | 7.5% | 17.6% | 4.8% | 2.6% | 6.0% | 19.6% | 5.7% |
| Capex / revenue | 2.0% | 2.2% | 1.7% | 1.4% | 1.4% | 2.4% | 2.5% | 1.3% | 4.8% | 2.7% | 2.2% | 1.5% |
| Operating cash flow / net income | 3.32 | — | 3.87 | 10.22 | 11.62 | 1.20 | 11.40 | 4.64 | 9.52 | — | 5.04 | 2.51 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
DXC cash generation
In fiscal 2026 (ended March 31, 2026), DXC Technology generated $1.2 billion of cash from operations (down 10.7%) and spent $212.0 million on capital expenditures, leaving free cash flow of $1.0 billion, 8.2% of revenue. It returned $249.0 million to shareholders through dividends ($0) and net share buybacks ($249.0 million). Cash and equivalents fell by $59.0 million over the year.
Related: DXC income statement, DXC balance sheet. See the DXC stock overview for the latest quote and news.
DXC cash flow FAQ
What is DXC Technology's free cash flow?
DXC Technology's free cash flow was $1.0 billion in fiscal 2026: $1.2 billion of operating cash flow minus $212.0 million of capital expenditures It was $822.0 million a year earlier..
How much cash does DXC Technology generate from operations?
DXC Technology generated $1.2 billion of cash from operating activities in fiscal 2026, 69.33 times its net income of $18.0 million.
How much does DXC Technology spend on capital expenditures?
DXC Technology spent $212.0 million on capital expenditures in fiscal 2026, 1.7% of revenue, compared with $576.0 million the year before.
How much stock does DXC Technology buy back?
DXC Technology spent $249.0 million on net share repurchases in fiscal 2026.