Dell Technologies Inc. (DELL) 10-Year Financial Performance & Capital Metrics

DELL • • Industrial / General

TechnologyComputer HardwareSpecialized Computing SystemsHigh-Performance Servers

AboutDell Technologies Inc. designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers. This segment also offers networking products and services that help its business customers to transform and modernize their infrastructure, mobilize and enrich end-user experiences, and accelerate business applications and processes; attached software and peripherals; and support and deployment, configuration, and extended warranty services. The CSG segment provides desktops, workstations, and notebooks; displays and projectors; attached and third-party software and peripherals, as well as support and deployment, configuration, and extended warranty services. The VMware segment supports customers in the areas of hybrid and multi-cloud, modern applications, networking, security, and digital workspaces, helping customers to manage IT resource across private clouds and complex multi-cloud, multi-device environments. Dell Technologies Inc. also provides information security; and cloud software and infrastructure-as-a-service solutions that enable customers to migrate, run, and manage mission-critical applications in cloud-based IT environments. The company was formerly known as Denali Holding Inc. and changed its name to Dell Technologies Inc. in August 2016. Dell Technologies Inc. was founded in 1984 and is headquartered in Round Rock, Texas.Show more

Revenue $95.57B +8.1%
EBITDA $9.36B +7.4%
Net Income $4.59B +35.5%
EPS (Diluted) 6.38 +38.7%
Gross Margin 22.24% -6.7%
EBITDA Margin 9.79% -0.6%
Operating Margin 6.53% +6.7%
Net Margin 4.81% +25.4%
ROE -
ROIC 25.96% +10.2%
Debt/Equity -
Interest Coverage 4.41 +22.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.88%

5Y2.42%

3Y-1.89%

TTM10.66%

Profit (Net Income) CAGR

10Y-

5Y-0.1%

3Y-6.19%

TTM26%

EPS CAGR

10Y-

5Y1.13%

3Y-3.14%

TTM28.99%

ROCE

10Y Avg5.65%

5Y Avg12.69%

3Y Avg16.4%

Latest18.62%

Peer Comparison

High-Performance Servers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DELLDell Technologies Inc.	39.96B	119.66	18.76	8.08%	5.01%		4.68%
SMCISuper Micro Computer, Inc.	17.56B	29.42	17.51	46.59%	3.77%	12.15%	8.72%	0.76
HPQHP Inc.	18.92B	20.61	7.78	3.24%	4.57%		14.8%

Profit & Loss

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	50.91B	62.16B	79.04B	90.62B	84.81B	86.67B	101.2B	102.3B	88.42B	95.57B
Revenue Growth %	-0.06%	0.22%	0.27%	0.15%	-0.06%	0.02%	0.17%	0.01%	-0.14%	0.08%
Cost of Goods Sold+	42.52B	48.52B	58.5B	65.57B	64.18B	66.53B	79.31B	79.61B	67.36B	74.32B
COGS % of Revenue	0.84%	0.78%	0.74%	0.72%	0.76%	0.77%	0.78%	0.78%	0.76%	0.78%
Gross Profit+	8.39B	13.65B	20.54B	25.05B	20.64B	20.14B	21.89B	22.69B	21.07B	21.25B
Gross Margin %	0.16%	0.22%	0.26%	0.28%	0.24%	0.23%	0.22%	0.22%	0.24%	0.22%
Gross Profit Growth %	-0.04%	0.63%	0.5%	0.22%	-0.18%	-0.02%	0.09%	0.04%	-0.07%	0.01%
Operating Expenses+	8.9B	16.04B	22.95B	25.24B	18.27B	16.45B	17.23B	16.91B	15.66B	15.01B
OpEx % of Revenue	0.17%	0.26%	0.29%	0.28%	0.22%	0.19%	0.17%	0.17%	0.18%	0.16%
Selling, General & Admin	7.85B	13.4B	18.57B	20.64B	15.82B	14B	14.56B	13.77B	12.34B	11.95B
SG&A % of Revenue	0.15%	0.22%	0.23%	0.23%	0.19%	0.16%	0.14%	0.13%	0.14%	0.13%
Research & Development	1.05B	2.64B	4.38B	4.6B	2.45B	2.46B	2.58B	2.78B	2.8B	3.06B
R&D % of Revenue	0.02%	0.04%	0.06%	0.05%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Other Operating Expenses	0	0	0	0	0	0	98M	363M	522M	0
Operating Income+	-514M	-2.39B	-2.42B	-191M	2.37B	3.69B	4.66B	5.77B	5.41B	6.24B
Operating Margin %	-0.01%	-0.04%	-0.03%	-0%	0.03%	0.04%	0.05%	0.06%	0.06%	0.07%
Operating Income Growth %	-0.15%	-3.65%	-0.01%	0.92%	13.39%	0.56%	0.26%	0.24%	-0.06%	0.15%
EBITDA+	2.36B	2.55B	6.22B	7.55B	8.51B	9.07B	9.21B	8.93B	8.71B	9.36B
EBITDA Margin %	0.05%	0.04%	0.08%	0.08%	0.1%	0.1%	0.09%	0.09%	0.1%	0.1%
EBITDA Growth %	-0.07%	0.08%	1.44%	0.22%	0.13%	0.07%	0.01%	-0.03%	-0.02%	0.07%
D&A (Non-Cash Add-back)	2.87B	4.94B	8.63B	7.75B	6.14B	5.39B	4.55B	3.16B	3.3B	3.12B
EBIT	-584M	-2.35B	-2.25B	258M	2.35B	4.4B	7.46B	4.51B	5.59B	6.46B
Net Interest Income+	-663M	-1.69B	-2.31B	-2.31B	-2.3B	-1.9B	-1.48B	-1.18B	-1.17B	-1.25B
Interest Income	39M	102M	207M	313M	99M	148M	62M	100M	329M	160M
Interest Expense	702M	1.8B	2.52B	2.62B	2.4B	2.05B	1.54B	1.28B	1.5B	1.41B
Other Income/Expense	-772M	-2.1B	-2.35B	-2.17B	-2.42B	-1.34B	1.26B	-2.55B	-1.32B	-1.19B
Pretax Income+	-1.29B	-4.49B	-4.77B	-2.36B	-51M	2.35B	5.92B	3.23B	4.09B	5.05B
Pretax Margin %	-0.03%	-0.07%	-0.06%	-0.03%	-0%	0.03%	0.06%	0.03%	0.05%	0.05%
Income Tax+	-118M	-1.42B	-1.84B	-180M	-572M	101M	981M	803M	715M	472M
Effective Tax Rate %	0.86%	0.26%	0.6%	0.98%	-90.51%	1.39%	0.94%	0.76%	0.83%	0.91%
Net Income+	-1.1B	-1.17B	-2.85B	-2.31B	4.62B	3.25B	5.56B	2.44B	3.39B	4.59B
Net Margin %	-0.02%	-0.02%	-0.04%	-0.03%	0.05%	0.04%	0.05%	0.02%	0.04%	0.05%
Net Income Growth %	0.1%	-0.06%	-1.44%	0.19%	3%	-0.3%	0.71%	-0.56%	0.39%	0.36%
Net Income (Continuing)	-1.17B	-3.07B	-2.93B	-2.18B	521M	2.25B	4.94B	2.42B	3.37B	4.58B
Discontinued Operations	64M	1.92B	0	0	5.01B	1B	615M	0	0	0
Minority Interest	0	5.77B	5.77B	4.82B	4.73B	5.07B	105M	97M	95M	95M
EPS (Diluted)+	-1.54	-1.62	-3.70	-2.96	6.03	4.22	7.02	3.24	4.60	6.38
EPS Growth %	0.09%	-0.05%	-1.28%	0.2%	3.04%	-0.3%	0.66%	-0.54%	0.42%	0.39%
EPS (Basic)	-1.54	-1.62	-3.70	-2.96	6.38	4.37	7.30	3.33	4.71	6.51
Diluted Shares Outstanding	718.43M	718.43M	718.43M	719M	751M	767M	791M	753M	736M	724M
Basic Shares Outstanding	718.43M	718.43M	770M	719M	724M	744M	762M	734M	736M	696.13M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.39%	0.32%	0.28%

Balance Sheet

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	23.57B	30.77B	40.33B	36.14B	36.87B	43.57B	45.03B	42.35B	35.98B	36.23B
Cash & Short-Term Investments	6.32B	11.45B	16.13B	9.68B	9.3B	9.51B	9.48B	8.61B	7.37B	3.63B
Cash Only	6.32B	9.47B	13.94B	9.68B	9.3B	9.51B	9.48B	8.61B	7.37B	3.63B
Short-Term Investments	0	1.98B	2.19B	0	0	0	0	0	0	0
Accounts Receivable	7.8B	12.64B	15.64B	16.77B	17.38B	15.99B	18.13B	18.14B	13.99B	15.6B
Days Sales Outstanding	55.94	74.23	72.22	67.54	74.79	67.36	65.4	64.73	57.73	59.59
Inventory	1.62B	2.54B	2.68B	3.65B	3.28B	3.4B	5.9B	4.78B	3.62B	6.72B
Days Inventory Outstanding	13.9	19.09	16.71	20.31	18.66	18.67	27.15	21.9	19.63	32.98
Other Current Assets	7.83B	4.14B	5.88B	6.04B	6.91B	14.66B	11.53B	10.83B	11.01B	10.28B
Total Non-Current Assets+	21.55B	87.43B	83.86B	75.68B	81.99B	79.85B	47.7B	47.26B	46.14B	43.52B
Property, Plant & Equipment	1.65B	5.65B	5.39B	5.26B	7.83B	4.83B	5.42B	6.21B	6.43B	6.34B
Fixed Asset Turnover	30.87x	11.00x	14.66x	17.23x	10.83x	17.93x	18.69x	16.48x	13.75x	15.08x
Goodwill	8.41B	38.91B	39.92B	40.09B	41.69B	20.03B	19.77B	19.68B	19.7B	19.12B
Intangible Assets	8.58B	35.05B	28.27B	22.27B	18.11B	9.12B	7.46B	6.47B	5.7B	4.99B
Long-Term Investments	114M	3.8B	4.16B	1B	864M	1.33B	1.84B	1.52B	1.32B	1.5B
Other Non-Current Assets	2.8B	4.01B	6.13B	6.41B	7.54B	38.31B	13.22B	13.39B	12.99B	11.58B
Total Assets+	45.12B	118.21B	124.19B	111.82B	118.86B	123.42B	92.73B	89.61B	82.13B	79.75B
Asset Turnover	1.13x	0.53x	0.64x	0.81x	0.71x	0.70x	1.09x	1.14x	1.08x	1.20x
Asset Growth %	-0.06%	1.62%	0.05%	-0.1%	0.06%	0.04%	-0.25%	-0.03%	-0.08%	-0.03%
Total Current Liabilities+	25.31B	38.13B	45.84B	44.97B	52.46B	54.13B	56.22B	51.65B	48.35B	46.53B
Accounts Payable	12.88B	14.42B	18.33B	19.21B	20.07B	21.57B	27.14B	18.6B	19.23B	20.83B
Days Payables Outstanding	110.56	108.5	114.39	106.95	114.12	118.35	124.92	85.26	104.19	102.31
Short-Term Debt	2.98B	6.33B	7.87B	4.32B	7.74B	6.36B	5.82B	6.57B	6.98B	5.2B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	4.22B	5.77B	6.43B	5.54B	5.85B	3.94B	0	0	0	221M
Current Ratio	0.93x	0.81x	0.88x	0.80x	0.70x	0.80x	0.80x	0.82x	0.74x	0.78x
Quick Ratio	0.87x	0.74x	0.82x	0.72x	0.64x	0.74x	0.70x	0.73x	0.67x	0.63x
Cash Conversion Cycle	-40.73	-15.18	-25.45	-19.1	-20.67	-32.32	-32.38	1.36	-26.83	-9.74
Total Non-Current Liabilities+	18.24B	60.83B	60.48B	66.59B	62.62B	61.26B	38.1B	40.98B	35.9B	34.61B
Long-Term Debt	10.65B	43.06B	44B	49.2B	44.32B	32.87B	21.13B	23.02B	19.01B	19.36B
Capital Lease Obligations	0	0	0	0	1.36B	1.79B	0	0	0	0
Deferred Tax Liabilities	939M	8.61B	6.11B	5.53B	3.11B	2.17B	0	0	0	0
Other Non-Current Liabilities	2.56B	732M	1.17B	800M	913M	12.04B	3.65B	3.22B	3.06B	2.95B
Total Liabilities	43.55B	98.97B	106.32B	111.57B	115.08B	115.39B	94.31B	92.64B	84.26B	81.13B
Total Debt+	13.63B	49.39B	51.87B	53.52B	53.85B	41.45B	26.95B	29.59B	25.99B	24.57B
Net Debt	7.31B	39.92B	37.93B	43.84B	44.55B	31.94B	17.48B	20.98B	18.63B	20.93B
Debt / Equity	8.67x	2.57x	2.90x	210.71x	14.23x	5.16x	-	-	-	-
Debt / EBITDA	5.78x	19.38x	8.34x	7.08x	6.33x	4.57x	2.93x	3.31x	2.98x	2.62x
Net Debt / EBITDA	3.10x	15.67x	6.10x	5.80x	5.24x	3.52x	1.90x	2.35x	2.14x	2.24x
Interest Coverage	-0.73x	-1.33x	-0.96x	-0.07x	0.99x	1.80x	3.02x	4.51x	3.60x	4.41x
Total Equity+	1.57B	19.24B	17.87B	254M	3.78B	8.03B	-1.58B	-3.02B	-2.13B	-1.39B
Equity Growth %	-0.46%	11.24%	-0.07%	-0.99%	13.9%	1.12%	-1.2%	-0.91%	0.3%	0.35%
Book Value per Share	2.19	26.78	24.87	0.35	5.04	10.46	-2.00	-4.02	-2.90	-1.92
Total Shareholders' Equity	1.57B	13.47B	12.1B	-4.57B	-945M	2.95B	-1.69B	-3.12B	-2.23B	-1.48B
Common Stock	5.73B	20.2B	19.89B	16.11B	16.09B	16.85B	7.9B	8.42B	8.93B	9.12B
Retained Earnings	-3.94B	-5.61B	-6.86B	-21.35B	-16.89B	-13.75B	-8.19B	-6.73B	-4.45B	-1.16B
Treasury Stock	0	-752M	-1.44B	-63M	-65M	-305M	-964M	-3.81B	-5.9B	-8.5B
Accumulated OCI	-324M	-595M	130M	-467M	-709M	-314M	-431M	-1B	-800M	-939M
Minority Interest	0	5.77B	5.77B	4.82B	4.73B	5.07B	105M	97M	95M	95M

Cash Flow

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	2.16B	2.37B	6.84B	6.99B	9.29B	11.41B	10.31B	3.56B	8.68B	4.52B
Operating CF Margin %	0.04%	0.04%	0.09%	0.08%	0.11%	0.13%	0.1%	0.03%	0.1%	0.05%
Operating CF Growth %	-0.15%	0.09%	1.89%	0.02%	0.33%	0.23%	-0.1%	-0.65%	1.43%	-0.48%
Net Income	-1.1B	-1.16B	-2.93B	-2.18B	5.53B	3.5B	5.71B	2.42B	3.37B	4.58B
Depreciation & Amortization	2.87B	4.73B	8.63B	7.75B	6.14B	5.39B	4.55B	3.16B	3.3B	3.12B
Stock-Based Compensation	72M	398M	835M	918M	1.26B	1.61B	1.62B	931M	878M	785M
Deferred Taxes	-205M	-2.05B	-2.6B	-1.33B	-6.34B	-399M	-365M	-717M	-91M	-208M
Other Non-Cash Items	408M	-1.6B	754M	756M	938M	-88M	-3.13B	961M	609M	453M
Working Capital Changes	119M	1.84B	2.15B	1.08B	1.76B	1.39B	1.92B	-3.19B	605M	-4.21B
Change in Receivables	-134M	-2.53B	-3.24B	-2.41B	-1.61B	-1.12B	-2.43B	-348M	3.29B	-2.25B
Change in Inventory	-5M	1.08B	-325M	-1.45B	311M	-243M	-2.51B	875M	975M	-3.52B
Change in Payables	-374M	751M	3.78B	952M	894M	1.6B	5.74B	-8.55B	-498M	1.7B
Cash from Investing+	-321M	-31.24B	-2.88B	3.39B	-4.69B	-460M	1.31B	-3.02B	-2.78B	-2.21B
Capital Expenditures	-482M	-906M	-1.74B	-1.57B	-2.59B	-2.08B	-2.8B	-3B	-2.76B	-2.65B
CapEx % of Revenue	0.01%	0.01%	0.02%	0.02%	0.03%	0.02%	0.03%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	85M	-13M	30M	30M	51M	28M	62M	41M	45M	180M
Cash from Financing+	-496M	31.82B	403M	-14.33B	-4.6B	-5.95B	-16.61B	-1.63B	-7.09B	-5.82B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-2.13B	0	0	0	-964M	-1.07B	-1.27B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-4M	-430M	-432M	-104M	-620M	-270M	-8.81B	-39M	-109M	-64M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.68B	1.46B	5.26B	5.49B	6.7B	9.32B	7.51B	562M	5.92B	1.87B
FCF Margin %	0.03%	0.02%	0.07%	0.06%	0.08%	0.11%	0.07%	0.01%	0.07%	0.02%
FCF Growth %	-0.19%	-0.13%	2.6%	0.04%	0.22%	0.39%	-0.19%	-0.93%	9.53%	-0.68%
FCF per Share	2.34	2.03	7.32	7.64	8.93	12.16	9.50	0.75	8.04	2.58
FCF Conversion (FCF/Net Income)	-1.96x	-2.03x	-2.40x	-3.03x	2.01x	3.51x	1.85x	1.46x	2.56x	0.98x
Interest Paid	585M	1.57B	2.19B	2.35B	2.5B	2.28B	1.82B	1.17B	1.44B	1.3B
Taxes Paid	264M	978M	924M	747M	1.41B	1.42B	1.26B	1.21B	1.38B	555M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-49.33%	-11.21%	-15.35%	-25.49%	228.63%	55.04%	172.63%	-	-	-
Return on Invested Capital (ROIC)	-3.75%	-5.27%	-3.15%	-0.29%	3.84%	6.26%	12.51%	25.57%	23.56%	25.96%
Gross Margin	16.47%	21.96%	25.98%	27.65%	24.33%	23.24%	21.63%	22.18%	23.83%	22.24%
Net Margin	-2.17%	-1.88%	-3.6%	-2.55%	5.44%	3.75%	5.5%	2.39%	3.83%	4.81%
Debt / Equity	8.67x	2.57x	2.90x	210.71x	14.23x	5.16x	-	-	-	-
Interest Coverage	-0.73x	-1.33x	-0.96x	-0.07x	0.99x	1.80x	3.02x	4.51x	3.60x	4.41x
FCF Conversion	-1.96x	-2.03x	-2.40x	-3.03x	2.01x	3.51x	1.85x	1.46x	2.56x	0.98x
Revenue Growth	-5.68%	22.1%	27.15%	14.65%	-6.41%	2.19%	16.76%	1.09%	-13.56%	8.08%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024	2025
Others	1.03B	1.9B	2.33B	1.79B	1.57B	5.39B	5.72B	5.61B	91.99B
Others Growth	-	85.28%	22.51%	-23.23%	-12.36%	243.84%	6.18%	-1.87%	1538.51%
Corporate, Non-Segment	-1.18B	-1.27B	-	-347M	-	-	-	-	3.58B
Corporate, Non-Segment Growth	-	-7.54%	-	-	-	-	-	-	-
Client Solutions	36.75B	39.45B	43.2B	45.84B	48.35B	61.46B	58.21B	48.92B	-
Client Solutions Growth	-	7.35%	9.48%	6.12%	5.49%	27.11%	-5.29%	-15.97%	-
Infrastructure Solutions Group	-	-	36.72B	33.97B	32.59B	34.37B	38.36B	33.88B	-
Infrastructure Solutions Group Growth	-	-	-	-7.49%	-4.07%	5.46%	11.61%	-11.66%	-
VMware, Inc.	3.23B	7.92B	9.09B	10.9B	-	-	-	-	-
VMware, Inc. Growth	-	145.74%	14.68%	19.99%	-	-	-	-	-
Enterprise Solutions Group	21.78B	30.65B	-	-	-	-	-	-	-
Enterprise Solutions Group Growth	-	40.76%	-	-	-	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	30.7B	38.34B	42.8B	43.83B	45.67B	46.75B	49.2B	43.99B	51.01B
UNITED STATES Growth	-	24.90%	11.63%	2.40%	4.20%	2.37%	5.24%	-10.60%	15.98%
Non-US	30.94B	-	47.82B	48.33B	48.55B	54.45B	53.1B	44.44B	44.55B
Non-US Growth	-	-	-	1.06%	0.47%	12.14%	-2.47%	-16.31%	0.26%

Frequently Asked Questions

Valuation & Price

Dell Technologies Inc. (DELL) has a price-to-earnings (P/E) ratio of 18.8x. This is roughly in line with market averages.

Growth & Financials

Dell Technologies Inc. (DELL) reported $103.97B in revenue for fiscal year 2025. This represents a 84% increase from $56.38B in 2014.

Dell Technologies Inc. (DELL) grew revenue by 8.1% over the past year. This is steady growth.

Yes, Dell Technologies Inc. (DELL) is profitable, generating $5.21B in net income for fiscal year 2025 (4.8% net margin).

Dividend & Returns

Yes, Dell Technologies Inc. (DELL) pays a dividend with a yield of 1.47%. This makes it attractive for income-focused investors.

Dell Technologies Inc. (DELL) generated $4.45B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Dell Technologies Inc. (DELL) 10-Year Financial Performance & Capital Metrics

DELL • • Industrial / General

TechnologyComputer HardwareSpecialized Computing SystemsHigh-Performance Servers

Revenue $95.57B +8.1%
EBITDA $9.36B +7.4%
Net Income $4.59B +35.5%
EPS (Diluted) 6.38 +38.7%
Gross Margin 22.24% -6.7%
EBITDA Margin 9.79% -0.6%
Operating Margin 6.53% +6.7%
Net Margin 4.81% +25.4%
ROE -
ROIC 25.96% +10.2%
Debt/Equity -
Interest Coverage 4.41 +22.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.88%

5Y2.42%

3Y-1.89%

TTM10.66%

Profit (Net Income) CAGR

10Y-

5Y-0.1%

3Y-6.19%

TTM26%

EPS CAGR

10Y-

5Y1.13%

3Y-3.14%

TTM28.99%

ROCE

10Y Avg5.65%

5Y Avg12.69%

3Y Avg16.4%

Latest18.62%

Peer Comparison

High-Performance Servers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DELLDell Technologies Inc.	39.96B	119.66	18.76	8.08%	5.01%		4.68%
SMCISuper Micro Computer, Inc.	17.56B	29.42	17.51	46.59%	3.77%	12.15%	8.72%	0.76
HPQHP Inc.	18.92B	20.61	7.78	3.24%	4.57%		14.8%

Profit & Loss

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	50.91B	62.16B	79.04B	90.62B	84.81B	86.67B	101.2B	102.3B	88.42B	95.57B
Revenue Growth %	-0.06%	0.22%	0.27%	0.15%	-0.06%	0.02%	0.17%	0.01%	-0.14%	0.08%
Cost of Goods Sold+	42.52B	48.52B	58.5B	65.57B	64.18B	66.53B	79.31B	79.61B	67.36B	74.32B
COGS % of Revenue	0.84%	0.78%	0.74%	0.72%	0.76%	0.77%	0.78%	0.78%	0.76%	0.78%
Gross Profit+	8.39B	13.65B	20.54B	25.05B	20.64B	20.14B	21.89B	22.69B	21.07B	21.25B
Gross Margin %	0.16%	0.22%	0.26%	0.28%	0.24%	0.23%	0.22%	0.22%	0.24%	0.22%
Gross Profit Growth %	-0.04%	0.63%	0.5%	0.22%	-0.18%	-0.02%	0.09%	0.04%	-0.07%	0.01%
Operating Expenses+	8.9B	16.04B	22.95B	25.24B	18.27B	16.45B	17.23B	16.91B	15.66B	15.01B
OpEx % of Revenue	0.17%	0.26%	0.29%	0.28%	0.22%	0.19%	0.17%	0.17%	0.18%	0.16%
Selling, General & Admin	7.85B	13.4B	18.57B	20.64B	15.82B	14B	14.56B	13.77B	12.34B	11.95B
SG&A % of Revenue	0.15%	0.22%	0.23%	0.23%	0.19%	0.16%	0.14%	0.13%	0.14%	0.13%
Research & Development	1.05B	2.64B	4.38B	4.6B	2.45B	2.46B	2.58B	2.78B	2.8B	3.06B
R&D % of Revenue	0.02%	0.04%	0.06%	0.05%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Other Operating Expenses	0	0	0	0	0	0	98M	363M	522M	0
Operating Income+	-514M	-2.39B	-2.42B	-191M	2.37B	3.69B	4.66B	5.77B	5.41B	6.24B
Operating Margin %	-0.01%	-0.04%	-0.03%	-0%	0.03%	0.04%	0.05%	0.06%	0.06%	0.07%
Operating Income Growth %	-0.15%	-3.65%	-0.01%	0.92%	13.39%	0.56%	0.26%	0.24%	-0.06%	0.15%
EBITDA+	2.36B	2.55B	6.22B	7.55B	8.51B	9.07B	9.21B	8.93B	8.71B	9.36B
EBITDA Margin %	0.05%	0.04%	0.08%	0.08%	0.1%	0.1%	0.09%	0.09%	0.1%	0.1%
EBITDA Growth %	-0.07%	0.08%	1.44%	0.22%	0.13%	0.07%	0.01%	-0.03%	-0.02%	0.07%
D&A (Non-Cash Add-back)	2.87B	4.94B	8.63B	7.75B	6.14B	5.39B	4.55B	3.16B	3.3B	3.12B
EBIT	-584M	-2.35B	-2.25B	258M	2.35B	4.4B	7.46B	4.51B	5.59B	6.46B
Net Interest Income+	-663M	-1.69B	-2.31B	-2.31B	-2.3B	-1.9B	-1.48B	-1.18B	-1.17B	-1.25B
Interest Income	39M	102M	207M	313M	99M	148M	62M	100M	329M	160M
Interest Expense	702M	1.8B	2.52B	2.62B	2.4B	2.05B	1.54B	1.28B	1.5B	1.41B
Other Income/Expense	-772M	-2.1B	-2.35B	-2.17B	-2.42B	-1.34B	1.26B	-2.55B	-1.32B	-1.19B
Pretax Income+	-1.29B	-4.49B	-4.77B	-2.36B	-51M	2.35B	5.92B	3.23B	4.09B	5.05B
Pretax Margin %	-0.03%	-0.07%	-0.06%	-0.03%	-0%	0.03%	0.06%	0.03%	0.05%	0.05%
Income Tax+	-118M	-1.42B	-1.84B	-180M	-572M	101M	981M	803M	715M	472M
Effective Tax Rate %	0.86%	0.26%	0.6%	0.98%	-90.51%	1.39%	0.94%	0.76%	0.83%	0.91%
Net Income+	-1.1B	-1.17B	-2.85B	-2.31B	4.62B	3.25B	5.56B	2.44B	3.39B	4.59B
Net Margin %	-0.02%	-0.02%	-0.04%	-0.03%	0.05%	0.04%	0.05%	0.02%	0.04%	0.05%
Net Income Growth %	0.1%	-0.06%	-1.44%	0.19%	3%	-0.3%	0.71%	-0.56%	0.39%	0.36%
Net Income (Continuing)	-1.17B	-3.07B	-2.93B	-2.18B	521M	2.25B	4.94B	2.42B	3.37B	4.58B
Discontinued Operations	64M	1.92B	0	0	5.01B	1B	615M	0	0	0
Minority Interest	0	5.77B	5.77B	4.82B	4.73B	5.07B	105M	97M	95M	95M
EPS (Diluted)+	-1.54	-1.62	-3.70	-2.96	6.03	4.22	7.02	3.24	4.60	6.38
EPS Growth %	0.09%	-0.05%	-1.28%	0.2%	3.04%	-0.3%	0.66%	-0.54%	0.42%	0.39%
EPS (Basic)	-1.54	-1.62	-3.70	-2.96	6.38	4.37	7.30	3.33	4.71	6.51
Diluted Shares Outstanding	718.43M	718.43M	718.43M	719M	751M	767M	791M	753M	736M	724M
Basic Shares Outstanding	718.43M	718.43M	770M	719M	724M	744M	762M	734M	736M	696.13M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.39%	0.32%	0.28%

Balance Sheet

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	23.57B	30.77B	40.33B	36.14B	36.87B	43.57B	45.03B	42.35B	35.98B	36.23B
Cash & Short-Term Investments	6.32B	11.45B	16.13B	9.68B	9.3B	9.51B	9.48B	8.61B	7.37B	3.63B
Cash Only	6.32B	9.47B	13.94B	9.68B	9.3B	9.51B	9.48B	8.61B	7.37B	3.63B
Short-Term Investments	0	1.98B	2.19B	0	0	0	0	0	0	0
Accounts Receivable	7.8B	12.64B	15.64B	16.77B	17.38B	15.99B	18.13B	18.14B	13.99B	15.6B
Days Sales Outstanding	55.94	74.23	72.22	67.54	74.79	67.36	65.4	64.73	57.73	59.59
Inventory	1.62B	2.54B	2.68B	3.65B	3.28B	3.4B	5.9B	4.78B	3.62B	6.72B
Days Inventory Outstanding	13.9	19.09	16.71	20.31	18.66	18.67	27.15	21.9	19.63	32.98
Other Current Assets	7.83B	4.14B	5.88B	6.04B	6.91B	14.66B	11.53B	10.83B	11.01B	10.28B
Total Non-Current Assets+	21.55B	87.43B	83.86B	75.68B	81.99B	79.85B	47.7B	47.26B	46.14B	43.52B
Property, Plant & Equipment	1.65B	5.65B	5.39B	5.26B	7.83B	4.83B	5.42B	6.21B	6.43B	6.34B
Fixed Asset Turnover	30.87x	11.00x	14.66x	17.23x	10.83x	17.93x	18.69x	16.48x	13.75x	15.08x
Goodwill	8.41B	38.91B	39.92B	40.09B	41.69B	20.03B	19.77B	19.68B	19.7B	19.12B
Intangible Assets	8.58B	35.05B	28.27B	22.27B	18.11B	9.12B	7.46B	6.47B	5.7B	4.99B
Long-Term Investments	114M	3.8B	4.16B	1B	864M	1.33B	1.84B	1.52B	1.32B	1.5B
Other Non-Current Assets	2.8B	4.01B	6.13B	6.41B	7.54B	38.31B	13.22B	13.39B	12.99B	11.58B
Total Assets+	45.12B	118.21B	124.19B	111.82B	118.86B	123.42B	92.73B	89.61B	82.13B	79.75B
Asset Turnover	1.13x	0.53x	0.64x	0.81x	0.71x	0.70x	1.09x	1.14x	1.08x	1.20x
Asset Growth %	-0.06%	1.62%	0.05%	-0.1%	0.06%	0.04%	-0.25%	-0.03%	-0.08%	-0.03%
Total Current Liabilities+	25.31B	38.13B	45.84B	44.97B	52.46B	54.13B	56.22B	51.65B	48.35B	46.53B
Accounts Payable	12.88B	14.42B	18.33B	19.21B	20.07B	21.57B	27.14B	18.6B	19.23B	20.83B
Days Payables Outstanding	110.56	108.5	114.39	106.95	114.12	118.35	124.92	85.26	104.19	102.31
Short-Term Debt	2.98B	6.33B	7.87B	4.32B	7.74B	6.36B	5.82B	6.57B	6.98B	5.2B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	4.22B	5.77B	6.43B	5.54B	5.85B	3.94B	0	0	0	221M
Current Ratio	0.93x	0.81x	0.88x	0.80x	0.70x	0.80x	0.80x	0.82x	0.74x	0.78x
Quick Ratio	0.87x	0.74x	0.82x	0.72x	0.64x	0.74x	0.70x	0.73x	0.67x	0.63x
Cash Conversion Cycle	-40.73	-15.18	-25.45	-19.1	-20.67	-32.32	-32.38	1.36	-26.83	-9.74
Total Non-Current Liabilities+	18.24B	60.83B	60.48B	66.59B	62.62B	61.26B	38.1B	40.98B	35.9B	34.61B
Long-Term Debt	10.65B	43.06B	44B	49.2B	44.32B	32.87B	21.13B	23.02B	19.01B	19.36B
Capital Lease Obligations	0	0	0	0	1.36B	1.79B	0	0	0	0
Deferred Tax Liabilities	939M	8.61B	6.11B	5.53B	3.11B	2.17B	0	0	0	0
Other Non-Current Liabilities	2.56B	732M	1.17B	800M	913M	12.04B	3.65B	3.22B	3.06B	2.95B
Total Liabilities	43.55B	98.97B	106.32B	111.57B	115.08B	115.39B	94.31B	92.64B	84.26B	81.13B
Total Debt+	13.63B	49.39B	51.87B	53.52B	53.85B	41.45B	26.95B	29.59B	25.99B	24.57B
Net Debt	7.31B	39.92B	37.93B	43.84B	44.55B	31.94B	17.48B	20.98B	18.63B	20.93B
Debt / Equity	8.67x	2.57x	2.90x	210.71x	14.23x	5.16x	-	-	-	-
Debt / EBITDA	5.78x	19.38x	8.34x	7.08x	6.33x	4.57x	2.93x	3.31x	2.98x	2.62x
Net Debt / EBITDA	3.10x	15.67x	6.10x	5.80x	5.24x	3.52x	1.90x	2.35x	2.14x	2.24x
Interest Coverage	-0.73x	-1.33x	-0.96x	-0.07x	0.99x	1.80x	3.02x	4.51x	3.60x	4.41x
Total Equity+	1.57B	19.24B	17.87B	254M	3.78B	8.03B	-1.58B	-3.02B	-2.13B	-1.39B
Equity Growth %	-0.46%	11.24%	-0.07%	-0.99%	13.9%	1.12%	-1.2%	-0.91%	0.3%	0.35%
Book Value per Share	2.19	26.78	24.87	0.35	5.04	10.46	-2.00	-4.02	-2.90	-1.92
Total Shareholders' Equity	1.57B	13.47B	12.1B	-4.57B	-945M	2.95B	-1.69B	-3.12B	-2.23B	-1.48B
Common Stock	5.73B	20.2B	19.89B	16.11B	16.09B	16.85B	7.9B	8.42B	8.93B	9.12B
Retained Earnings	-3.94B	-5.61B	-6.86B	-21.35B	-16.89B	-13.75B	-8.19B	-6.73B	-4.45B	-1.16B
Treasury Stock	0	-752M	-1.44B	-63M	-65M	-305M	-964M	-3.81B	-5.9B	-8.5B
Accumulated OCI	-324M	-595M	130M	-467M	-709M	-314M	-431M	-1B	-800M	-939M
Minority Interest	0	5.77B	5.77B	4.82B	4.73B	5.07B	105M	97M	95M	95M

Cash Flow

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	2.16B	2.37B	6.84B	6.99B	9.29B	11.41B	10.31B	3.56B	8.68B	4.52B
Operating CF Margin %	0.04%	0.04%	0.09%	0.08%	0.11%	0.13%	0.1%	0.03%	0.1%	0.05%
Operating CF Growth %	-0.15%	0.09%	1.89%	0.02%	0.33%	0.23%	-0.1%	-0.65%	1.43%	-0.48%
Net Income	-1.1B	-1.16B	-2.93B	-2.18B	5.53B	3.5B	5.71B	2.42B	3.37B	4.58B
Depreciation & Amortization	2.87B	4.73B	8.63B	7.75B	6.14B	5.39B	4.55B	3.16B	3.3B	3.12B
Stock-Based Compensation	72M	398M	835M	918M	1.26B	1.61B	1.62B	931M	878M	785M
Deferred Taxes	-205M	-2.05B	-2.6B	-1.33B	-6.34B	-399M	-365M	-717M	-91M	-208M
Other Non-Cash Items	408M	-1.6B	754M	756M	938M	-88M	-3.13B	961M	609M	453M
Working Capital Changes	119M	1.84B	2.15B	1.08B	1.76B	1.39B	1.92B	-3.19B	605M	-4.21B
Change in Receivables	-134M	-2.53B	-3.24B	-2.41B	-1.61B	-1.12B	-2.43B	-348M	3.29B	-2.25B
Change in Inventory	-5M	1.08B	-325M	-1.45B	311M	-243M	-2.51B	875M	975M	-3.52B
Change in Payables	-374M	751M	3.78B	952M	894M	1.6B	5.74B	-8.55B	-498M	1.7B
Cash from Investing+	-321M	-31.24B	-2.88B	3.39B	-4.69B	-460M	1.31B	-3.02B	-2.78B	-2.21B
Capital Expenditures	-482M	-906M	-1.74B	-1.57B	-2.59B	-2.08B	-2.8B	-3B	-2.76B	-2.65B
CapEx % of Revenue	0.01%	0.01%	0.02%	0.02%	0.03%	0.02%	0.03%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	85M	-13M	30M	30M	51M	28M	62M	41M	45M	180M
Cash from Financing+	-496M	31.82B	403M	-14.33B	-4.6B	-5.95B	-16.61B	-1.63B	-7.09B	-5.82B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-2.13B	0	0	0	-964M	-1.07B	-1.27B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-4M	-430M	-432M	-104M	-620M	-270M	-8.81B	-39M	-109M	-64M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.68B	1.46B	5.26B	5.49B	6.7B	9.32B	7.51B	562M	5.92B	1.87B
FCF Margin %	0.03%	0.02%	0.07%	0.06%	0.08%	0.11%	0.07%	0.01%	0.07%	0.02%
FCF Growth %	-0.19%	-0.13%	2.6%	0.04%	0.22%	0.39%	-0.19%	-0.93%	9.53%	-0.68%
FCF per Share	2.34	2.03	7.32	7.64	8.93	12.16	9.50	0.75	8.04	2.58
FCF Conversion (FCF/Net Income)	-1.96x	-2.03x	-2.40x	-3.03x	2.01x	3.51x	1.85x	1.46x	2.56x	0.98x
Interest Paid	585M	1.57B	2.19B	2.35B	2.5B	2.28B	1.82B	1.17B	1.44B	1.3B
Taxes Paid	264M	978M	924M	747M	1.41B	1.42B	1.26B	1.21B	1.38B	555M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-49.33%	-11.21%	-15.35%	-25.49%	228.63%	55.04%	172.63%	-	-	-
Return on Invested Capital (ROIC)	-3.75%	-5.27%	-3.15%	-0.29%	3.84%	6.26%	12.51%	25.57%	23.56%	25.96%
Gross Margin	16.47%	21.96%	25.98%	27.65%	24.33%	23.24%	21.63%	22.18%	23.83%	22.24%
Net Margin	-2.17%	-1.88%	-3.6%	-2.55%	5.44%	3.75%	5.5%	2.39%	3.83%	4.81%
Debt / Equity	8.67x	2.57x	2.90x	210.71x	14.23x	5.16x	-	-	-	-
Interest Coverage	-0.73x	-1.33x	-0.96x	-0.07x	0.99x	1.80x	3.02x	4.51x	3.60x	4.41x
FCF Conversion	-1.96x	-2.03x	-2.40x	-3.03x	2.01x	3.51x	1.85x	1.46x	2.56x	0.98x
Revenue Growth	-5.68%	22.1%	27.15%	14.65%	-6.41%	2.19%	16.76%	1.09%	-13.56%	8.08%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024	2025
Others	1.03B	1.9B	2.33B	1.79B	1.57B	5.39B	5.72B	5.61B	91.99B
Others Growth	-	85.28%	22.51%	-23.23%	-12.36%	243.84%	6.18%	-1.87%	1538.51%
Corporate, Non-Segment	-1.18B	-1.27B	-	-347M	-	-	-	-	3.58B
Corporate, Non-Segment Growth	-	-7.54%	-	-	-	-	-	-	-
Client Solutions	36.75B	39.45B	43.2B	45.84B	48.35B	61.46B	58.21B	48.92B	-
Client Solutions Growth	-	7.35%	9.48%	6.12%	5.49%	27.11%	-5.29%	-15.97%	-
Infrastructure Solutions Group	-	-	36.72B	33.97B	32.59B	34.37B	38.36B	33.88B	-
Infrastructure Solutions Group Growth	-	-	-	-7.49%	-4.07%	5.46%	11.61%	-11.66%	-
VMware, Inc.	3.23B	7.92B	9.09B	10.9B	-	-	-	-	-
VMware, Inc. Growth	-	145.74%	14.68%	19.99%	-	-	-	-	-
Enterprise Solutions Group	21.78B	30.65B	-	-	-	-	-	-	-
Enterprise Solutions Group Growth	-	40.76%	-	-	-	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	30.7B	38.34B	42.8B	43.83B	45.67B	46.75B	49.2B	43.99B	51.01B
UNITED STATES Growth	-	24.90%	11.63%	2.40%	4.20%	2.37%	5.24%	-10.60%	15.98%
Non-US	30.94B	-	47.82B	48.33B	48.55B	54.45B	53.1B	44.44B	44.55B
Non-US Growth	-	-	-	1.06%	0.47%	12.14%	-2.47%	-16.31%	0.26%

Frequently Asked Questions

Valuation & Price

Dell Technologies Inc. (DELL) has a price-to-earnings (P/E) ratio of 18.8x. This is roughly in line with market averages.

Growth & Financials

Dell Technologies Inc. (DELL) reported $103.97B in revenue for fiscal year 2025. This represents a 84% increase from $56.38B in 2014.

Dell Technologies Inc. (DELL) grew revenue by 8.1% over the past year. This is steady growth.

Yes, Dell Technologies Inc. (DELL) is profitable, generating $5.21B in net income for fiscal year 2025 (4.8% net margin).

Dividend & Returns

Yes, Dell Technologies Inc. (DELL) pays a dividend with a yield of 1.47%. This makes it attractive for income-focused investors.

Dell Technologies Inc. (DELL) generated $4.45B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.