DELL · Dell Technologies Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.38B | $27.00B | $29.78B | $22.24B | $24.37B | $25.03B | - | $22.25B | $24.72B | $26.43B |
| Cost of Revenue | $18.44B | $21.41B | $24.33B | $17.44B | $19.06B | $19.71B | - | $17.10B | $19.01B | $20.99B |
| Gross Profit | $4.94B | $5.59B | $5.45B | $4.81B | $5.31B | $5.31B | - | $5.15B | $5.71B | $5.44B |
| R&D | $808.00M | $752.00M | $785.00M | $763.00M | $745.00M | $780.00M | - | $692.00M | $677.00M | $626.00M |
| SG&A | $2.96B | $2.72B | $2.89B | $3.12B | $2.89B | $3.19B | - | $2.97B | $3.27B | $3.54B |
| Total Operating Expenses | $3.77B | $3.47B | $3.67B | $3.89B | $3.64B | $3.97B | - | $3.66B | $3.94B | $4.17B |
| D&A | $738.00M | - | - | $800.00M | - | - | - | - | - | - |
| Operating Income | $1.17B | $2.12B | $1.77B | $920.00M | $1.67B | $1.34B | - | $1.49B | $1.76B | $1.27B |
| Interest Expense | $354.00M | $396.00M | $399.00M | $343.00M | $371.00M | $352.00M | - | $371.00M | $272.00M | $298.00M |
| Income Tax | $118.00M | $393.00M | $276.00M | ($408.00M) | $265.00M | $148.00M | - | $176.00M | $213.00M | $129.00M |
| Net Income | $965.00M | $1.55B | $1.16B | $960.00M | $1.13B | $846.00M | - | $1.01B | $245.00M | $511.00M |
| EPS - Basic | $1.39 | $2.31 | $1.72 | $1.36 | $1.61 | $1.19 | - | $1.39 | - | - |
| EPS - Diluted | $1.37 | $2.28 | $1.70 | $1.32 | $1.58 | $1.17 | - | $1.36 | - | - |
Balance Sheet
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.53B | $9.57B | $8.14B | $3.63B | $5.22B | $4.55B | $7.37B | $8.30B | $8.36B | $7.63B |
| Accounts Receivable | $17.59B | $11.72B | $15.02B | $10.30B | $11.19B | $11.39B | - | - | $11.43B | $9.40B |
| Inventory | $10.44B | $6.95B | $7.21B | $6.72B | $6.65B | $5.95B | $3.62B | $3.38B | $3.58B | $4.02B |
| Accounts Payable | $33.63B | $23.79B | $27.46B | $20.83B | $23.40B | $24.09B | - | - | $22.51B | $17.80B |
| Current Assets | $57.60B | $43.10B | $45.51B | $36.23B | $38.03B | $37.54B | $35.95B | $36.99B | $39.00B | $37.39B |
| Total Assets | $101.29B | $87.48B | $89.18B | $79.75B | $81.95B | $82.69B | $82.09B | $83.26B | $85.66B | $84.09B |
| Current Liabilities | $63.27B | $50.52B | $54.86B | $46.53B | $49.50B | $52.03B | $48.49B | $48.88B | $50.94B | $46.83B |
| Long-term Debt | $23.51B | $23.85B | $21.54B | $19.36B | $19.41B | $17.81B | $19.01B | $20.12B | $20.18B | $22.96B |
| Total Liabilities | $103.76B | $90.10B | $91.94B | $81.13B | $84.14B | $85.48B | $84.40B | $85.83B | $88.33B | $87.02B |
| Stockholders' Equity | ($2.47B) | ($2.62B) | ($2.77B) | ($1.48B) | ($2.29B) | ($2.89B) | ($2.40B) | ($2.66B) | ($2.77B) | ($3.02B) |
| Retained Earnings | $3.33B | $1.42B | $231.00M | ($1.16B) | ($2.67B) | ($3.48B) | ($4.63B) | ($5.52B) | ($6.25B) | ($6.43B) |
Cash Flow
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.80B | - | - | $1.04B | - | - | - | - | - | - |
| Investing Cash Flow | ($88.00M) | - | - | ($456.00M) | - | - | - | - | - | - |
| Financing Cash Flow | $1.24B | - | - | ($2.08B) | - | - | - | - | - | - |
| CapEx | $568.00M | - | - | $596.00M | - | - | - | - | - | - |
| Free Cash Flow | $2.23B | - | - | $447.00M | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 21.1% | 20.7% | 18.3% | 21.6% | 21.8% | 21.2% | - | 23.1% | 23.1% | 20.6% |
| Operating margin | 5.0% | 7.8% | 6.0% | 4.1% | 6.8% | 5.4% | - | 6.7% | 7.1% | 4.8% |
| EBITDA margin | 8.1% | - | - | 7.7% | - | - | - | - | - | - |
| Net margin | 4.1% | 5.7% | 3.9% | 4.3% | 4.6% | 3.4% | - | 4.5% | 1.0% | 1.9% |
| Free cash flow margin | 9.5% | - | - | 2.0% | - | - | - | - | - | - |
| FCF / Net income | 2.31 | - | - | 0.47 | - | - | - | - | - | - |
| R&D / Revenue | 3.5% | 2.8% | 2.6% | 3.4% | 3.1% | 3.1% | - | 3.1% | 2.7% | 2.4% |
| SG&A / Revenue | 12.7% | 10.1% | 9.7% | 14.0% | 11.9% | 12.7% | - | 13.3% | 13.2% | 13.4% |
| Effective tax rate | 10.9% | 20.2% | 19.2% | -73.9% | 19.0% | 14.9% | - | 14.9% | 46.5% | 20.2% |
| Return on assets | 1.0% | 1.8% | 1.3% | 1.2% | 1.4% | 1.0% | - | 1.2% | 0.3% | 0.6% |
| Return on equity | -39.1% | -59.1% | -42.1% | -64.8% | -49.5% | -29.2% | - | -37.8% | -8.8% | -16.9% |
| Return on invested capital | 4.9% | 8.0% | 7.6% | 5.1% | 7.9% | 7.7% | - | 7.2% | 5.4% | 5.1% |
| Liquidity | ||||||||||
| Current ratio | 0.91 | 0.85 | 0.83 | 0.78 | 0.77 | 0.72 | 0.74 | 0.76 | 0.77 | 0.80 |
| Quick ratio | 0.75 | 0.72 | 0.70 | 0.63 | 0.63 | 0.61 | 0.67 | 0.69 | 0.70 | 0.71 |
| Cash ratio | 0.18 | 0.19 | 0.15 | 0.08 | 0.11 | 0.09 | 0.15 | 0.17 | 0.16 | 0.16 |
| Leverage | ||||||||||
| Debt / Equity | -9.52 | -9.10 | -7.79 | -13.07 | -8.49 | -6.15 | -7.91 | -7.55 | -7.28 | -7.60 |
| Debt / Assets | 0.23 | 0.27 | 0.24 | 0.24 | 0.24 | 0.22 | 0.23 | 0.24 | 0.24 | 0.27 |
| Debt / EBITDA | 12.36 | - | - | 11.26 | - | - | - | - | - | - |
| Interest coverage | 3.3x | 5.4x | 4.4x | 2.7x | 4.5x | 3.8x | - | 4.0x | 6.5x | 4.3x |
| Equity multiplier | -41.01 | -33.39 | -32.24 | -53.81 | -35.86 | -28.57 | -34.15 | -31.26 | -30.90 | -27.82 |
| Liabilities / Assets | 1.02 | 1.03 | 1.03 | 1.02 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 |
| Efficiency | ||||||||||
| Asset turnover | 0.23 | 0.31 | 0.33 | 0.28 | 0.30 | 0.30 | - | 0.27 | 0.29 | 0.31 |
| Inventory turnover | 1.77 | 3.08 | 3.37 | 2.60 | 2.87 | 3.31 | - | 5.06 | 5.31 | 5.23 |
| Days sales outstanding | 275d | 158d | 184d | 169d | 168d | 166d | - | - | 169d | 130d |
| Days inventory outstanding | 207d | 118d | 108d | 141d | 127d | 110d | - | 72d | 69d | 70d |
| Days payable outstanding | 666d | 406d | 412d | 436d | 448d | 446d | - | - | 432d | 310d |
| Cash conversion cycle | -185d | -129d | -120d | -126d | -153d | -170d | - | - | -194d | -110d |
| Valuation | ||||||||||
| P / E | 83.5x | 71.1x | 74.9x | 78.5x | 82.8x | 87.4x | - | 51.1x | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 3.4x | 4.1x | 2.9x | 3.4x | 3.9x | 3.0x | - | 2.3x | 1.6x | 1.3x |
| EV / EBITDA | 48.5x | - | - | 52.9x | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 5.1% | 10.8% | 19.0% | - | 9.5% | - | - | -10.0% | -12.9% | 1.2% |
| Revenue CAGR (3y) | -3.6% | 3.0% | 4.1% | -3.2% | -5.0% | -1.4% | - | -1.8% | 2.7% | 4.2% |
| Revenue CAGR (5y) | 1.3% | 2.8% | 5.5% | 0.3% | 1.3% | 1.4% | - | 2.6% | 4.7% | 6.5% |
| Gross profit growth (YoY) | 2.7% | 5.4% | 2.6% | - | 3.1% | - | - | -9.8% | -29.2% | -31.9% |
| Operating income growth (YoY) | 26.6% | 27.0% | 32.1% | - | 12.2% | - | - | -15.7% | 30.6% | -7.4% |
| Net income growth (YoY) | 0.5% | 36.7% | 37.6% | - | 12.5% | - | - | 310.6% | -93.6% | -38.5% |
| EPS growth (YoY) | 3.8% | 44.3% | 45.3% | - | 16.2% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | 5.3% | -31.3% | 3.7% | - | 8.0% | - | - |
| EPS CAGR (5y) | 48.5% | 16.1% | 4.4% | 28.3% | 19.1% | -23.5% | - | - | - | - |
| FCF growth (YoY) | 398.4% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | 44.1% | - | - | - | - | - | - |
| Book value growth (YoY) | -66.7% | -14.7% | 4.4% | 38.4% | 14.2% | - | 23.0% | 3.9% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-30.
Business segments
$111.81B totalInfrastructure Solutions Group$60.83B · 54.4%
Client Solutions$50.98B · 45.6%
Product / service
$225.35B totalProduct$90.41B · 40.1%
Commercial$44.06B · 19.6%
AIOptimized Servers And Networking$24.68B · 11.0%
Service$23.13B · 10.3%
Traditional Servers And Networking$19.51B · 8.7%
Storage$16.63B · 7.4%
Consumer$6.92B · 3.1%
Geographic
$113.54B totalUS$63.14B · 55.6%
Non Us$50.40B · 44.4%
Peer comparison
Same SIC group: Electronic Computers
Comparing Dell Technologies Inc. against the 5 most active filers in the same SIC group.
Dividends
$2.21/share trailing 12 months · +18.5% YoY
| Ex-date | Per share |
|---|---|
| Apr 21, 2026 | $0.6300 |
| Jan 20, 2026 | $0.5250 |
| Oct 21, 2025 | $0.5250 |
| Jul 22, 2025 | $0.5250 |
| Apr 22, 2025 | $0.5250 |
| Jan 22, 2025 | $0.4450 |
| Oct 22, 2024 | $0.4450 |
| Jul 23, 2024 | $0.4450 |
| Apr 22, 2024 | $0.4450 |
| Jan 22, 2024 | $0.3700 |
| Oct 23, 2023 | $0.3700 |
| Jul 24, 2023 | $0.3700 |
| Apr 24, 2023 | $0.3700 |
| Jan 24, 2023 | $0.3300 |
| Oct 18, 2022 | $0.3300 |
| Jul 19, 2022 | $0.3300 |
| Apr 19, 2022 | $0.3300 |