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DXC Technology cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$143M in Q2 FY27 · $1.0B over twelve months

Operating cash flow$217M
Capital spending−$74.0M
Free cash flow+$143M
Cash / net income16.7×
Cash conversion cycle32 days

Analysis

In Q2 FY27, DXC Technology generated $217M of operating cash flow and spent $74.0M on capital projects, leaving free cash flow of $143M. That is $222M less than in Q2 FY26 ($365M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.3B; the largest uses were net borrowing (+) / repaid (−) ($1.6B), capital spending ($258M), buybacks ($257M); besides operations, cash came from other financing ($697M), asset & business sales ($44.0M); the cash balance fell by $289M.

Operating cash flow was $217M against net income of $13.0M — 16.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$289M, other operating capital −$251M, deferred taxes −$36.0M.

Its cash conversion cycle was 32 days (receivables 57 + inventory 0 − payables 25).

Free cash flow

DXC Technology: free cash flow by quarterDXC Technology: free cash flow by quarter$568MQ3 FY25$238MQ4 FY25$143MQ1 FY26$365MQ2 FY26$359MQ3 FY26$169MQ4 FY26$359MQ1 FY27$143MQ2 FY27
Operating cash flow less capital spending.
DXC Technology: operating cash flow against capital spendingDXC Technology: operating cash flow against capital spendingOperating cash flowCapital spending$650M$82.0MQ3 FY25$315M$77.0MQ4 FY25$186M$43.0MQ1 FY26$409M$44.0MQ2 FY26$414M$55.0MQ3 FY26$239M$70.0MQ4 FY26$418M$59.0MQ1 FY27$217M$74.0MQ2 FY27
Latest (Q2 FY27): Operating cash flow $217M, Capital spending $74.0M.

Capital allocation, year by year

DXC Technology: where the cash came from (up) and went (down), by fiscal yearDXC Technology: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY22: Operating cash flow $1.5BFY22: Net borrowing −$3.2BFY22: Shares issued $13.0MFY22: Asset sales $633MFY22: Capital spending −$254MFY22: Buybacks −$628M$2.1BFY22FY23: Operating cash flow $1.4BFY23: Net borrowing −$621MFY23: Shares issued $2.0MFY23: Asset sales $24.0MFY23: Capital spending −$267MFY23: Buybacks −$669M$1.4BFY23FY24: Operating cash flow $1.4BFY24: Net borrowing −$343MFY24: Asset sales $101MFY24: Capital spending −$182MFY24: Buybacks −$898M$1.5BFY24FY25: Operating cash flow $1.4BFY25: Net borrowing −$202MFY25: Asset sales $187MFY25: Capital spending −$248MFY25: Buybacks −$14.0M$1.6BFY25FY26: Operating cash flow $1.2BFY26: Net borrowing −$1.2BFY26: Asset sales $35.0MFY26: Capital spending −$212MFY26: Buybacks −$249M$1.3BFY26
Over these 5 years operating cash flow totalled $6.9B; the largest uses were net borrowing ($5.6B) and buybacks ($2.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.6B
Debt$3.1B
Net debt$1.5B
Due within a year$428M

DXC Technology funds itself: free cash flow was $1.0B over the last twelve months, and $1.6B of cash and investments stands against $3.1B of debt ($428M due within a year, 3.7× covered by cash).

DXC Technology: debt maturities by year (FY26)DXC Technology: debt maturities by year (FY26)$428MYear 1$867MYear 2$652MYear 3$2.0MYear 4$734MYear 5$695MAfter year 5
Principal due in each year as disclosed in the annual report, against $1.6B of cash and investments now.

Where the cash came from and went

DXC Technology: sources (+) and uses (−) of cash, Q2 FY27DXC Technology: sources (+) and uses (−) of cash, Q2 FY27Other financing−$411MCash drawn (+) / kept (−)$358MOperating cash flow$217MCapital spending−$74.0MBuybacks−$61.0MOther investing−$41.0MAsset & business sales$27.0MNet borrowing (+) / repaid (−)−$25.0MExchange rates$11.0MTaxes on employees’ shares−$1.0M
DXC Technology: sources (+) and uses (−) of cash, TTM to Q2 FY27DXC Technology: sources (+) and uses (−) of cash, TTM to Q2 FY27Net borrowing (+) / repaid (−)−$1.6BOperating cash flow$1.3BOther financing$697MCash drawn (+) / kept (−)$289MCapital spending−$258MBuybacks−$257MOther investing−$235MAsset & business sales$44.0MExchange rates$20.0MTaxes on employees’ shares−$12.0M

From profit to cash

DXC Technology: net income to operating cash flow, Q2 FY27DXC Technology: net income to operating cash flow, Q2 FY27Net income$13.0MDepreciation & amortization$289MStock-based pay$16.0MDeferred taxes−$36.0MGains on disposals$9.0MOther non-cash−$3.0MOther operating capital−$251MOperating cash flow$217M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2757—2532
Q1 FY2759—2435
Q4 FY2655—2134
Q3 FY2655—2431
Q2 FY2658—2631
Q1 FY2659—2336
Q4 FY2556—2135
Q3 FY2557—2433

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 FY27$217M−$74.0M−$61.0M−$25.0M$358M$143M
Q1 FY27$418M−$59.0M−$71.0M−$29.0M−$220M$359M
Q4 FY26$239M−$70.0M−$61.0M−$27.0M−$6.0M$169M
Q3 FY26$414M−$55.0M−$64.0M−$1.1B$157M$359M
Q2 FY26$409M−$44.0M−$76.0M−$38.0M−$96.0M$365M
Q1 FY26$186M−$43.0M−$48.0M−$38.0M$4.0M$143M
Q4 FY25$315M−$77.0M—−$41.0M−$73.0M$238M
Q3 FY25$650M−$82.0M−$12.0M−$54.0M−$478M$568M

DXC Technology: income statement and cash flow

DXC Technology, Q2 FY27: revenue $3.0B (-4% year over year), operating margin 6.2%. The chart follows the revenue to costs, profit and cash.

DXC Technology: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.