Dell Technologies Inc. (DELL) Financial Ratios
13 years of historical data (2014–2026) · Technology · Computer Hardware
EV/EBITDA
↑
12.23
↑+53% vs avg
5yr avg: 7.97
30Y Low5.8·High20.7
P/FCF
↑
N/A
—
5yr avg: 27.70
30Y Low2.7·High54.4
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low0.7·High69.7
ROE
N/A
—
5yr avg: 172.6%
30Y Low-49%·High229%
Debt/EBITDA
↑
3.87
↑+23% vs avg
5yr avg: 3.14
30Y Low2.6·High36.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DELL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $79.7B | — | $75.0B | $61.0B | $30.6B | $44.5B | $28.3B | $18.6B | $17.7B | $14.5B | $12.7B |
| Enterprise Value | $99.7B | — | $95.9B | $79.6B | $51.6B | $62.0B | $60.3B | $63.1B | $61.5B | $52.4B | $52.6B |
| P/E Ratio → | — | — | 16.24 | 18.02 | 12.54 | 8.01 | 8.75 | 4.10 | — | — | — |
| P/S Ratio | 0.70 | — | 0.78 | 0.69 | 0.30 | 0.44 | 0.33 | 0.22 | 0.20 | 0.18 | 0.20 |
| P/B Ratio | — | — | — | — | — | — | 3.53 | 4.90 | 69.66 | 0.81 | 0.66 |
| P/FCF | — | — | 40.13 | 10.30 | 54.43 | 5.92 | 3.04 | 2.77 | 3.22 | 2.75 | 8.69 |
| P/OCF | — | — | 16.59 | 7.03 | 8.58 | 4.32 | 2.48 | 2.00 | 2.53 | 2.11 | 5.50 |
P/E links to full P/E history page with 30-year chart
DELL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Dell Technologies Inc.'s enterprise value stands at 12.2x EBITDA, 53% above its 5-year average of 8.0x. The Technology sector median is 17.4x, placing the stock at a 30% discount on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | 1.00 | 0.90 | 0.50 | 0.61 | 0.70 | 0.74 | 0.68 | 0.66 | 0.85 |
| EV / EBITDA | 12.23 | — | 10.25 | 9.14 | 5.78 | 6.73 | 6.64 | 7.42 | 8.15 | 8.42 | 20.65 |
| EV / EBIT | 12.23 | — | 14.85 | 14.25 | 11.44 | 8.30 | 13.70 | 26.91 | 238.53 | — | — |
| EV / FCF | — | — | 51.33 | 13.45 | 91.76 | 8.25 | 6.46 | 9.41 | 11.20 | 9.96 | 36.02 |
DELL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Dell Technologies Inc. earns an operating margin of 7.2%. Operating margins have expanded from 6.1% to 7.2% over the past 3 years, signaling improving operational efficiency. ROIC of 33.0% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.0% | 20.0% | 22.2% | 23.8% | 22.2% | 21.6% | 23.2% | 24.3% | 27.6% | 26.0% | 22.0% |
| Operating Margin | 7.2% | 7.2% | 6.5% | 6.1% | 5.6% | 4.6% | 4.3% | 2.8% | -0.2% | -3.1% | -3.8% |
| Net Profit Margin | 5.2% | 5.2% | 4.8% | 3.8% | 2.4% | 5.5% | 3.7% | 5.4% | -2.5% | -3.6% | -1.9% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | 172.6% | 55.0% | 228.6% | -25.5% | -15.4% | -11.2% |
| ROA | 6.6% | 6.6% | 5.7% | 3.9% | 2.7% | 5.1% | 2.7% | 4.0% | -2.0% | -2.4% | -1.4% |
| ROIC | 33.0% | 33.0% | 26.0% | 23.6% | 25.6% | 12.5% | 6.3% | 3.8% | -0.3% | -3.2% | -5.3% |
| ROCE | 22.9% | 22.9% | 18.6% | 15.1% | 15.5% | 8.8% | 5.4% | 3.6% | -0.3% | -3.0% | -4.8% |
DELL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Dell Technologies Inc. carries a Debt/EBITDA ratio of 3.9x, which is moderately leveraged (35% above the sector average of 2.9x). Net debt stands at $20.0B ($31.5B total debt minus $11.5B cash).
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | 5.16 | 14.23 | 210.71 | 2.90 | 2.57 |
| Debt / EBITDA | 3.87 | 3.87 | 2.62 | 2.98 | 3.31 | 2.93 | 4.57 | 6.33 | 7.08 | 8.34 | 19.38 |
| Net Debt / Equity | — | — | — | — | — | — | 3.98 | 11.77 | 172.62 | 2.12 | 2.07 |
| Net Debt / EBITDA | 2.45 | 2.45 | 2.24 | 2.14 | 2.35 | 1.90 | 3.52 | 5.24 | 5.80 | 6.10 | 15.67 |
| Debt / FCF | — | — | 11.20 | 3.15 | 37.33 | 2.33 | 3.42 | 6.64 | 7.98 | 7.21 | 27.32 |
| Interest Coverage | — | — | 4.41 | 3.60 | 4.51 | 3.02 | 1.80 | 0.99 | -0.07 | -0.96 | -1.33 |
DELL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.91x is below 1.0, meaning current liabilities exceed current assets — though the company's $11.5B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.74x to 0.91x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.91 | 0.91 | 0.78 | 0.74 | 0.82 | 0.80 | 0.80 | 0.70 | 0.80 | 0.88 | 0.81 |
| Quick Ratio | 0.75 | 0.75 | 0.63 | 0.67 | 0.73 | 0.70 | 0.74 | 0.64 | 0.72 | 0.82 | 0.74 |
| Cash Ratio | 0.18 | 0.18 | 0.08 | 0.15 | 0.17 | 0.17 | 0.18 | 0.18 | 0.22 | 0.35 | 0.30 |
| Asset Turnover | — | 1.12 | 1.20 | 1.08 | 1.14 | 1.09 | 0.70 | 0.71 | 0.81 | 0.64 | 0.53 |
| Inventory Turnover | 8.70 | 8.70 | 11.07 | 18.60 | 16.67 | 13.45 | 19.55 | 19.56 | 17.97 | 21.85 | 19.12 |
| Days Sales Outstanding | — | 56.53 | 59.59 | 57.73 | 64.73 | 65.40 | 67.36 | 74.79 | 67.54 | 72.22 | 74.23 |
DELL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Dell Technologies Inc. returns 7.5% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 1.7% | 1.8% | 3.2% | — | — | — | 12.1% | — | — |
| Payout Ratio | — | — | 27.8% | 31.6% | 39.5% | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 6.2% | 5.6% | 8.0% | 12.5% | 11.4% | 24.4% | — | — | — |
| FCF Yield | — | — | 2.5% | 9.7% | 1.8% | 16.9% | 32.9% | 36.1% | 31.0% | 36.4% | 11.5% |
| Buyback Yield | 7.5% | — | 4.2% | 4.0% | 10.7% | 4.1% | 5.7% | 19.2% | 81.9% | 12.7% | 11.1% |
| Total Shareholder Yield | 7.5% | — | 5.9% | 5.8% | 13.9% | 4.1% | 5.7% | 19.2% | 93.9% | 12.7% | 11.1% |
| Shares Outstanding | — | $0 | $724M | $736M | $753M | $791M | $767M | $751M | $719M | $718M | $718M |
Peer Comparison
Compare DELL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DELLYou | $80B | — | 12.2 | — | 20.0% | 7.2% | — | 33.0% | 3.9 |
 HPQ | $20B | 8.1 | 5.9 | 7.0 | 20.0% | 6.6% | — | 41.2% | 2.4 |
 HPE | $40B | -680.7 | 13.0 | 64.3 | 28.8% | 4.8% | 0.2% | 3.5% | 5.1 |
 NTAP | $22B | 19.7 | 14.5 | 16.5 | 70.2% | 20.3% | 108.5% | 54.4% | 2.2 |
 PSTG | $22B | 142.5 | 81.3 | 35.7 | 70.4% | 3.1% | 13.7% | 10.3% | 0.8 |
 STX | $171B | 116.2 | 82.2 | 209.7 | 35.2% | 20.8% | — | 41.4% | 2.5 |
 WDC | $164B | 94.4 | 59.9 | 127.6 | 38.8% | 24.5% | 23.1% | 13.8% | 1.8 |
 SMCI | $21B | 20.6 | 15.5 | 13.5 | 11.1% | 5.7% | 17.9% | 15.9% | 3.6 |
 IBM | $212B | 20.2 | 17.3 | 18.3 | 59.5% | 15.3% | 35.2% | 9.8% | 4.4 |
 INTC | $567B | -1918.7 | 51.3 | — | 34.8% | -0.0% | -0.2% | -0.0% | 4.0 |
 AMD | $687B | 159.0 | 102.4 | 102.0 | 49.5% | 10.7% | 7.2% | 4.7% | 0.7 |
| Technology Median | — | 27.5 | 17.4 | 19.8 | 48.6% | -0.5% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
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Start ComparisonDELL — Frequently Asked Questions
Quick answers to the most common questions about buying DELL stock.
What is Dell Technologies Inc.'s EV/EBITDA?
Dell Technologies Inc.'s current EV/EBITDA is 12.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.2x.
Is DELL stock overvalued?
Based on historical data, Dell Technologies Inc. is trading at valuation metrics that vary. Compare with industry peers and growth rates for a complete picture.
What are Dell Technologies Inc.'s profit margins?
Dell Technologies Inc. has 20.0% gross margin and 7.2% operating margin.
How much debt does Dell Technologies Inc. have?
Dell Technologies Inc.'s Debt/EBITDA ratio is 3.9x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.