DXC Technology vs IBM
IBM reported revenue of $67.5 billion in fiscal 2025, 5.3 times DXC Technology's $12.6 billion in fiscal 2026. DXC Technology's revenue fell 1.8% in its latest year, and IBM's grew 7.6%. Free cash flow was $1.0 billion at DXC Technology and $12.1 billion at IBM. Their fiscal years end in different months (March 31 and December 31), so the periods don't line up exactly.
Side by side
| DXC Technology | IBM | |
|---|---|---|
| Latest fiscal year | FY2026, Mar 31, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $12.6B | $67.5B |
| Revenue growth | −1.8% | 7.6% |
| Revenue growth a year, last 5 years | −6.5% | 4.1% |
| Gross margin | — | 58.2% |
| Operating margin | 7.7% | — |
| Net margin | 0.1% | 15.7% |
| Free cash flow | $1.0B | $12.1B |
| Free cash flow margin | 8.2% | 17.9% |
| Return on capital | 9.2% | 15.4% |
| Net debt to EBITDA | 0.8x | 3.1x |
| Dividends and buybacks | $249M | $6.3B |
| Change in diluted share count | −3.4% | 1.2% |
| Last close | $16.30 | $253.44 |
| P/E at the last close | 21.4× | 21.6× |
| Insider trades, last 12 months | bought $500,290, sold $37,881 | bought $417,157, sold $5.8 million |
| Piotroski F-score | 7 of 8 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
DXC TechnologyIBM
Operating margin
Percent of revenue
DXC TechnologyIBM
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
DXC TechnologyIBM
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the DXC Technology and IBM pages.