On this page of StockholderLetter.com we present the latest annual shareholder letter from DXC Technology Co — ticker symbol DXC. Reading current and past DXC letters to shareholders can bring important insights into the investment thesis.


To our
shareholders
   We are a company in motion:
more transparent, more
accountable and more
committed than ever to
delivering excellence for
our customers, partners,
employees and shareholders.   
Raul Fernandez
President and Chief Executive
2  FHU  ';& 7HFKQRORJ\
)LVFDO \HDU      ZDV D SLYRWDO RQH IRU ';& 
7HFKQRORJ\    WKH   UVW IXOO \HDU XQGHU P\ OHDGHUVKLS 
DV 3UHVLGHQW DQG &(2  7KH \HDU ZDV DERXW UHRULHQWLQJ 
our focus, reigniting our culture and restoring
FRQ  GHQFH LQ RXU SDWK WR GHOLYHU VXVWDLQHG  SUR  WDEOH 
growth. We are a company in motion: more
transparent, more accountable and more committed
than ever to delivering excellence for our customers,
partners, employees and shareholders.
3XWWLQJ FXVWRPHUV   UVW
Over the past year, I personally met with more than
    FOLHQWV DURXQG WKH ZRUOG  7KHVH FRQYHUVDWLRQV 
consistently underscored the critical, high-value work
';& GHOLYHUV DQG UHYHDOHG D VWURQJ DSSHWLWH DPRQJ 
customers to do more with us. We work with some
of the world   s leading brands, where we bring our
global scale and local excellence. A standout example
LV &DUQLYDO &UXLVH /LQH  V GHFLVLRQ WR HQWUXVW ';& WR 
PDQDJH WKH LQIUDVWUXFWXUH SRZHULQJ LWV HQWLUH   HHW 
and to deliver on exceptional experiences for more
WKDQ   PLOOLRQ JXHVWV DQQXDOO\  7KLV KLJKO\ FRPSHWLWLYH 
win is a strong endorsement of our capabilities and
customer-centric execution.
We are an indispensable partner to our clients,
building solutions that move industries and
businesses forward. Our engineers, designers and
consultants help clients innovate across industries.
Whether we   re helping airlines ensure a smooth
passenger experience or empowering manufacturers
to streamline factory operations and monitor their
R  HULQJV WKURXJKRXW WKH SURGXFW OLIH F\FOH  ';& 
powers the critical systems and experiences that keep
modern business moving.
11
Building a culture of accountability and speed
At the heart of our transformation is a cultural
UHVHW  :H DUH RSHUDWLQJ DV D   DWWHU  IDVWHU 
RUJDQL]DWLRQ    RQH WKDW OLVWHQV  OHDUQV DQG 
adapts. I   ve held dozens of in-person town
halls, increased the cadence of internal
broadcasts and focused on strengthening
transparency and two-way communication.
We   ve added over 20 new senior leaders with
deep operational and domain expertise, and
together we   ve infused the company with a
SHUIRUPDQFH GULYHQ PLQGVHW  7KLV FXOWXUDO 
HYROXWLRQ LVQ  W DERXW VORJDQV    LW  V DERXW 
accountability, intensity and a shared sense
of urgency to win.
7R VXSSRUW FRQVLVWHQW VXFFHVV LQ WKH 
PDUNHWSODFH  GXULQJ   VFDO \HDU      ZH UHEXLOW 
key commercial capabilities, including sales
execution, quota design and implementation,
and performance management.
Expanding our ecosystem
  Q   VFDO \HDU       ZH H[SDQGHG RXU 
relationships with global partners to create
new opportunities and extend our reach. By
teaming with the right ecosystem players
who share our commitment to innovation
and execution, we are extending our pipeline
and deepening our relevance in key growth
markets. We   ve strengthened our partnerships
with ServiceNow, SAP, Microsoft, Amazon Web
6HUYLFHV  '\QDWUDFH  'HOO 7HFKQRORJLHV DQG 
several others to bring joint modern solutions
to market.
2XU WHDPV KROG PRUH WKDQ        FHUWL  FDWLRQV 
across our ecosystem, and we   re committed
to growing that number to meet the evolving
needs of our clients.
We also increased our presence with industry
DQDO\VW   UPV DQG DGYLVRUV WR VKDUH RXU VXFFHVV 
VWRULHV DQG WKH VWUHQJWK RI RXU R  HULQJV 
2
$V D UHVXOW  ';& ZDV UHFRJQL]HG DV D OHDGHU LQ 
the following:
      6* 3URYLGHU /HQV   0DLQIUDPHV    6HUYLFHV 
and Solutions 2025
    Everest Group Individual Life Insurance
&RUH 7HFKQRORJ\ 3URGXFWV 3($. 0DWUL[  
Assessment 2025: North America
    ISG Provider Lens    AWS Ecosystem Partners 2024
Service delivery excellence
'HOLYHULQJ IRU RXU FOLHQWV LV HPEHGGHG LQ RXU '1$  
In our Global Infrastructure Services segment, we
saw an industry-leading net promoter score, which
UH  HFWV LPSURYHG VHUYLFH GHOLYHU\ DQG VWURQJHU FOLHQW 
relationships. Our Intelligent Operations approach,
which blends human expertise with AI-powered
automation, is driving better outcomes at scale.
Deep industry expertise
In industries such as insurance, automotive,
EDQNLQJ DQG KHDOWKFDUH  ';& LV D SURYHQ OHDGHU    
    In our Insurance Software & Business Process
Services business, we   re building SaaS-based
solutions that are transforming how our
FOLHQWV VFDOH DQG RSHUDWH  7ZHQW\ RQH RI WKH 
top 25 insurers and 80% of Fortune Global 500
LQVXUHUV UHO\ RQ ';& IRU FRUH V\VWHP VROXWLRQV  
We serve over 1,000 insurance clients and
process more than 1 billion policies.
    Eight of the 10 largest automakers in the world
trust us to improve the driving experience, with
PRUH WKDQ    PLOOLRQ YHKLFOHV UHO\LQJ RQ ';&  
      Q EDQNLQJ  ';& PDQDJHV     PLOOLRQ FXVWRPHU 
deposit accounts, processing 275 million card
transactions daily for more than 450 banks globally.
    ';& SDUWQHUV ZLWK        KHDOWKFDUH DQG 
life sciences customers around the globe
and has supported more than 1,000 digital
transformation projects for leading U.S. health
systems and health plans.
';& UHPDLQV RQH RI WKH IHZ   7 VHUYLFHV 
companies with end-to-end capabilities across
cloud managed services, consulting and
engineering, applications, security, modern
workplace services and insurance software.
7KDW EUHDGWK LV D VWUDWHJLF DGYDQWDJH 
Accelerating innovation and growth
We are transforming our technical capabilities
LQWR KLJK LPSDFW R  HULQJV  2XU &RQVXOWLQJ   
Engineering Services business is embedding AI
and generative AI into client solutions, driving
greater adoption of our enterprise solutions.
No longer just a concept, AI is now core to
how we deliver value and outcomes for our
customers. From reducing development cycles
to improving technical support outcomes, we   re
using AI to power real results, today.
For example, we launched DXC Assure BPM,
powered by ServiceNow. A groundbreaking
VROXWLRQ UHVKDSLQJ WKH LQVXUDQFH LQGXVWU\  ';& 
Assure BPM automates over a thousand manual
tasks, from policy administration and billing
to underwriting, fraud detection, and claims
management. By clearing out legacy processes
and simplifying operations, the solution can slash
operational costs by up to 40%, empowering
insurers to move faster and smarter.
We also introduced DXC AI Workbench to help
clients quickly build, deploy and scale powerful
JHQHUDWLYH $   VROXWLRQV  7KLV PHDQV OHVV FRGLQJ  
faster impact and total control over security and
costs. Ferrovial, a global leader in infrastructure,
is already using AI Workbench to drive realtime decisions with over 30 active AI agents,
VLJQL  FDQWO\ ERRVWLQJ SURGXFWLYLW\  VDIHW\ DQG 
decision making for its 24,000 employees.
UDWLR DERYH RQH  H[SDQGHG DGMXVWHG (%  7 
margin, strengthened our balance sheet and
JHQHUDWHG VWURQJ IUHH FDVK   RZ 
Fiscal year 2025 highlights include the
following:*
    7RWDO UHYHQXH        ELOOLRQ  GRZQ      
year over year; down 4.6% organically)
    Global Business Services revenue:
     ELOOLRQ  GRZQ      \HDU RYHU \HDU  
down 1.0% organically)
    Global Infrastructure Services revenue:
     ELOOLRQ  GRZQ      \HDU RYHU \HDU  
down 8.2% organically)
    (%  7 PDUJLQ RI       DGMXVWHG (%  7 PDUJLQ 
RI       XS    EDVLV SRLQWV \HDU RYHU \HDU
    &DVK JHQHUDWHG IURP RSHUDWLRQV       ELOOLRQ  
IUHH FDVK   RZ RI      PLOOLRQ
    1HW GHEW UHGXFHG E\      PLOOLRQ
Looking ahead
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LQ   VFDO \HDU      WKURXJK VKDUH UHSXUFKDVHV 
7KLV FRPSDQ\ KDV ZRUOG FODVV WHFKQLFDO 
capabilities, loyal customers and a deep bench
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year 2026, we will continue to sharpen our
execution, double down on innovation and focus
relentlessly on performance.
';& LV WXUQLQJ WKH FRUQHU  :H DUH ZRUNLQJ DV D 
coordinated team, moving with purpose, breaking
down silos and building something truly enduring.
7KDQN \RX IRU \RXU FRQWLQXHG WUXVW DQG VXSSRUW 
6WURQJ   QDQFLDO IRXQGDWLRQ
Our strategy is grounded in disciplined
H[HFXWLRQ    Q   VFDO \HDU       ZH JUHZ IXOO \HDU 
bookings by nearly 7%, drove our book-to-bill
Raul Fernandez
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3
 • shareholder letter icon 6/5/2025 Letter Continued (Full PDF)
 • stockholder letter icon 6/12/2023 DXC Stockholder Letter
 • stockholder letter icon 6/14/2024 DXC Stockholder Letter
 • stockholder letter icon More "Information Technology Services" Category Stockholder Letters
 • Benford's Law Stocks icon DXC Benford's Law Stock Score = 93


DXC Shareholder/Stockholder Letter Transcript:



To our
shareholders
   We are a company in motion:
more transparent, more
accountable and more
committed than ever to
delivering excellence for
our customers, partners,
employees and shareholders.   
Raul Fernandez
President and Chief Executive
2  FHU  ';& 7HFKQRORJ\
)LVFDO \HDU      ZDV D SLYRWDO RQH IRU ';& 
7HFKQRORJ\    WKH   UVW IXOO \HDU XQGHU P\ OHDGHUVKLS 
DV 3UHVLGHQW DQG &(2  7KH \HDU ZDV DERXW UHRULHQWLQJ 
our focus, reigniting our culture and restoring
FRQ  GHQFH LQ RXU SDWK WR GHOLYHU VXVWDLQHG  SUR  WDEOH 
growth. We are a company in motion: more
transparent, more accountable and more committed
than ever to delivering excellence for our customers,
partners, employees and shareholders.
3XWWLQJ FXVWRPHUV   UVW
Over the past year, I personally met with more than
    FOLHQWV DURXQG WKH ZRUOG  7KHVH FRQYHUVDWLRQV 
consistently underscored the critical, high-value work
';& GHOLYHUV DQG UHYHDOHG D VWURQJ DSSHWLWH DPRQJ 
customers to do more with us. We work with some
of the world   s leading brands, where we bring our
global scale and local excellence. A standout example
LV &DUQLYDO &UXLVH /LQH  V GHFLVLRQ WR HQWUXVW ';& WR 
PDQDJH WKH LQIUDVWUXFWXUH SRZHULQJ LWV HQWLUH   HHW 
and to deliver on exceptional experiences for more
WKDQ   PLOOLRQ JXHVWV DQQXDOO\  7KLV KLJKO\ FRPSHWLWLYH 
win is a strong endorsement of our capabilities and
customer-centric execution.
We are an indispensable partner to our clients,
building solutions that move industries and
businesses forward. Our engineers, designers and
consultants help clients innovate across industries.
Whether we   re helping airlines ensure a smooth
passenger experience or empowering manufacturers
to streamline factory operations and monitor their
R  HULQJV WKURXJKRXW WKH SURGXFW OLIH F\FOH  ';& 
powers the critical systems and experiences that keep
modern business moving.
11

Building a culture of accountability and speed
At the heart of our transformation is a cultural
UHVHW  :H DUH RSHUDWLQJ DV D   DWWHU  IDVWHU 
RUJDQL]DWLRQ    RQH WKDW OLVWHQV  OHDUQV DQG 
adapts. I   ve held dozens of in-person town
halls, increased the cadence of internal
broadcasts and focused on strengthening
transparency and two-way communication.
We   ve added over 20 new senior leaders with
deep operational and domain expertise, and
together we   ve infused the company with a
SHUIRUPDQFH GULYHQ PLQGVHW  7KLV FXOWXUDO 
HYROXWLRQ LVQ  W DERXW VORJDQV    LW  V DERXW 
accountability, intensity and a shared sense
of urgency to win.
7R VXSSRUW FRQVLVWHQW VXFFHVV LQ WKH 
PDUNHWSODFH  GXULQJ   VFDO \HDU      ZH UHEXLOW 
key commercial capabilities, including sales
execution, quota design and implementation,
and performance management.
Expanding our ecosystem
  Q   VFDO \HDU       ZH H[SDQGHG RXU 
relationships with global partners to create
new opportunities and extend our reach. By
teaming with the right ecosystem players
who share our commitment to innovation
and execution, we are extending our pipeline
and deepening our relevance in key growth
markets. We   ve strengthened our partnerships
with ServiceNow, SAP, Microsoft, Amazon Web
6HUYLFHV  '\QDWUDFH  'HOO 7HFKQRORJLHV DQG 
several others to bring joint modern solutions
to market.
2XU WHDPV KROG PRUH WKDQ        FHUWL  FDWLRQV 
across our ecosystem, and we   re committed
to growing that number to meet the evolving
needs of our clients.
We also increased our presence with industry
DQDO\VW   UPV DQG DGYLVRUV WR VKDUH RXU VXFFHVV 
VWRULHV DQG WKH VWUHQJWK RI RXU R  HULQJV 
2
$V D UHVXOW  ';& ZDV UHFRJQL]HG DV D OHDGHU LQ 
the following:
      6* 3URYLGHU /HQV   0DLQIUDPHV    6HUYLFHV 
and Solutions 2025
    Everest Group Individual Life Insurance
&RUH 7HFKQRORJ\ 3URGXFWV 3($. 0DWUL[  
Assessment 2025: North America
    ISG Provider Lens    AWS Ecosystem Partners 2024
Service delivery excellence
'HOLYHULQJ IRU RXU FOLHQWV LV HPEHGGHG LQ RXU '1$  
In our Global Infrastructure Services segment, we
saw an industry-leading net promoter score, which
UH  HFWV LPSURYHG VHUYLFH GHOLYHU\ DQG VWURQJHU FOLHQW 
relationships. Our Intelligent Operations approach,
which blends human expertise with AI-powered
automation, is driving better outcomes at scale.
Deep industry expertise
In industries such as insurance, automotive,
EDQNLQJ DQG KHDOWKFDUH  ';& LV D SURYHQ OHDGHU    
    In our Insurance Software & Business Process
Services business, we   re building SaaS-based
solutions that are transforming how our
FOLHQWV VFDOH DQG RSHUDWH  7ZHQW\ RQH RI WKH 
top 25 insurers and 80% of Fortune Global 500
LQVXUHUV UHO\ RQ ';& IRU FRUH V\VWHP VROXWLRQV  
We serve over 1,000 insurance clients and
process more than 1 billion policies.
    Eight of the 10 largest automakers in the world
trust us to improve the driving experience, with
PRUH WKDQ    PLOOLRQ YHKLFOHV UHO\LQJ RQ ';&  
      Q EDQNLQJ  ';& PDQDJHV     PLOOLRQ FXVWRPHU 
deposit accounts, processing 275 million card
transactions daily for more than 450 banks globally.
    ';& SDUWQHUV ZLWK        KHDOWKFDUH DQG 
life sciences customers around the globe
and has supported more than 1,000 digital
transformation projects for leading U.S. health
systems and health plans.

';& UHPDLQV RQH RI WKH IHZ   7 VHUYLFHV 
companies with end-to-end capabilities across
cloud managed services, consulting and
engineering, applications, security, modern
workplace services and insurance software.
7KDW EUHDGWK LV D VWUDWHJLF DGYDQWDJH 
Accelerating innovation and growth
We are transforming our technical capabilities
LQWR KLJK LPSDFW R  HULQJV  2XU &RQVXOWLQJ   
Engineering Services business is embedding AI
and generative AI into client solutions, driving
greater adoption of our enterprise solutions.
No longer just a concept, AI is now core to
how we deliver value and outcomes for our
customers. From reducing development cycles
to improving technical support outcomes, we   re
using AI to power real results, today.
For example, we launched DXC Assure BPM,
powered by ServiceNow. A groundbreaking
VROXWLRQ UHVKDSLQJ WKH LQVXUDQFH LQGXVWU\  ';& 
Assure BPM automates over a thousand manual
tasks, from policy administration and billing
to underwriting, fraud detection, and claims
management. By clearing out legacy processes
and simplifying operations, the solution can slash
operational costs by up to 40%, empowering
insurers to move faster and smarter.
We also introduced DXC AI Workbench to help
clients quickly build, deploy and scale powerful
JHQHUDWLYH $   VROXWLRQV  7KLV PHDQV OHVV FRGLQJ  
faster impact and total control over security and
costs. Ferrovial, a global leader in infrastructure,
is already using AI Workbench to drive realtime decisions with over 30 active AI agents,
VLJQL  FDQWO\ ERRVWLQJ SURGXFWLYLW\  VDIHW\ DQG 
decision making for its 24,000 employees.
UDWLR DERYH RQH  H[SDQGHG DGMXVWHG (%  7 
margin, strengthened our balance sheet and
JHQHUDWHG VWURQJ IUHH FDVK   RZ 
Fiscal year 2025 highlights include the
following:*
    7RWDO UHYHQXH        ELOOLRQ  GRZQ      
year over year; down 4.6% organically)
    Global Business Services revenue:
     ELOOLRQ  GRZQ      \HDU RYHU \HDU  
down 1.0% organically)
    Global Infrastructure Services revenue:
     ELOOLRQ  GRZQ      \HDU RYHU \HDU  
down 8.2% organically)
    (%  7 PDUJLQ RI       DGMXVWHG (%  7 PDUJLQ 
RI       XS    EDVLV SRLQWV \HDU RYHU \HDU
    &DVK JHQHUDWHG IURP RSHUDWLRQV       ELOOLRQ  
IUHH FDVK   RZ RI      PLOOLRQ
    1HW GHEW UHGXFHG E\      PLOOLRQ
Looking ahead
:H SODQ WR UHWXUQ      PLOOLRQ WR VKDUHKROGHUV 
LQ   VFDO \HDU      WKURXJK VKDUH UHSXUFKDVHV 
7KLV FRPSDQ\ KDV ZRUOG FODVV WHFKQLFDO 
capabilities, loyal customers and a deep bench
RI WDOHQW  :H DUH QRW VWDQGLQJ VWLOO    Q   VFDO 
year 2026, we will continue to sharpen our
execution, double down on innovation and focus
relentlessly on performance.
';& LV WXUQLQJ WKH FRUQHU  :H DUH ZRUNLQJ DV D 
coordinated team, moving with purpose, breaking
down silos and building something truly enduring.
7KDQN \RX IRU \RXU FRQWLQXHG WUXVW DQG VXSSRUW 
6WURQJ   QDQFLDO IRXQGDWLRQ
Our strategy is grounded in disciplined
H[HFXWLRQ    Q   VFDO \HDU       ZH JUHZ IXOO \HDU 
bookings by nearly 7%, drove our book-to-bill
Raul Fernandez
3UHVLGHQW DQG &KLHI ([HFXWLYH 2  FHU
  3OHDVH VHH QRQ *$$3 UHFRQFLOLDWLRQV RI (%  7 PDUJLQ DQG DGMXVWHG (%  7 PDUJLQ WR *$$3 QHW LQFRPH PDUJLQ SURYLGHG DW WKH HQG RI WKLV 
DQQXDO UHSRUW  3OHDVH VHH QRQ *$$3 UHFRQFLOLDWLRQV RI RUJDQLF UHYHQXH JURZWK DQG IUHH FDVK   RZ WR WKHLU UHVSHFWLYH PRVW GLUHFWO\ 
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3



shareholder letter icon 6/5/2025 Letter Continued (Full PDF)
 

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