Dell Technologies Inc. (DELL) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 |
|---|
| Sales/Revenue | 43.84B | 33.38B | 27B | 29.78B | 23.38B | 23.81B | 24.37B | 25.03B | 22.24B | 22.32B | 22.25B | 22.93B | 20.92B | 25.04B | 24.72B | 26.43B | 26.12B | 22.19B | 26.42B | 24.19B |
| Revenue Growth % | 87.54% | 40.21% | 10.83% | 18.98% | 5.1% | 6.67% | 9.51% | 9.12% | 6.32% | -10.87% | -9.99% | -13.21% | -19.89% | 12.82% | -6.44% | 9.23% | 15.61% | -15% | 12.53% | 6.41% |
| Cost of Goods Sold | 36.06B | 26.65B | 21.29B | 24.33B | 18.44B | 18.32B | 19.06B | 19.71B | 17.39B | 17B | 17.1B | 17.55B | 15.9B | 19.28B | 19.01B | 20.99B | 20.33B | 24B | 20.89B | 18.72B |
| COGS % of Revenue | 82.25% | 79.84% | 78.84% | 81.71% | 78.88% | 76.96% | 78.22% | 78.78% | 78.19% | 76.18% | 76.86% | 76.51% | 76.02% | 77.01% | 76.91% | 79.42% | 77.85% | 108.16% | 79.06% | 77.37% |
| Gross Profit | 7.78B | 6.73B | 5.71B | 5.45B | 4.94B | 5.49B | 5.31B | 5.31B | 4.85B | 5.32B | 5.15B | 5.39B | 5.02B | 5.76B | 5.71B | 5.44B | 5.78B | -1.81B | 5.53B | 5.47B |
| Gross Margin % | 17.75% | 20.16% | 21.16% | 18.29% | 21.12% | 23.04% | 21.78% | 21.22% | 21.81% | 23.82% | 23.14% | 23.49% | 23.98% | 22.99% | 23.09% | 20.58% | 22.15% | -8.16% | 20.94% | 22.63% |
| Gross Profit Growth % | 57.63% | 22.7% | 7.67% | 2.56% | 1.77% | 3.18% | 3.09% | -1.41% | -3.33% | -7.64% | -9.79% | -0.96% | -13.24% | 417.84% | 3.13% | -0.66% | 9.88% | -122.23% | -23.78% | -23.49% |
| Operating Expenses | 4.13B | 3.58B | 3.6B | 3.67B | 3.77B | 3.33B | 3.64B | 3.97B | 3.89B | 3.83B | 3.66B | 4.22B | 3.95B | 4.57B | 3.94B | 4.17B | 4.23B | -2.37B | 4.49B | 4.46B |
| OpEx % of Revenue | 9.41% | 10.74% | 13.31% | 12.34% | 16.13% | 13.97% | 14.93% | 15.86% | 17.47% | 17.14% | 16.46% | 18.41% | 18.87% | 18.24% | 15.96% | 15.78% | 16.21% | -10.7% | 16.98% | 18.43% |
| Selling, General & Admin | 3.14B | 2.79B | 2.72B | 2.89B | 2.96B | 2.56B | 2.89B | 3.19B | 3.12B | 2.95B | 2.97B | 3.52B | 3.26B | 3.77B | 3.27B | 3.54B | 3.55B | -743M | 3.84B | 3.76B |
| SG&A % of Revenue | 7.17% | 8.35% | 10.08% | 9.7% | 12.68% | 10.77% | 11.88% | 12.74% | 14.04% | 13.23% | 13.35% | 15.34% | 15.59% | 15.06% | 13.22% | 13.41% | 13.6% | -3.35% | 14.52% | 15.55% |
| Research & Development | 983M | 797M | 752M | 785M | 808M | 773M | 745M | 780M | 763M | 716M | 692M | 705M | 688M | 795M | 677M | 626M | 681M | -1.63B | 650M | 697M |
| R&D % of Revenue | 2.24% | 2.39% | 2.78% | 2.64% | 3.46% | 3.25% | 3.06% | 3.12% | 3.43% | 3.21% | 3.11% | 3.07% | 3.29% | 3.17% | 2.74% | 2.37% | 2.61% | -7.35% | 2.46% | 2.88% |
| Other Operating Expenses | 0 | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 3.66B | 3.15B | 2.12B | 1.77B | 1.17B | 2.16B | 1.67B | 1.34B | 965M | 1.49B | 1.49B | 1.17B | 1.07B | 1.19B | 1.76B | 1.27B | 1.55B | 563M | 1.05B | 1.02B |
| Operating Margin % | 8.34% | 9.42% | 7.85% | 5.95% | 4.98% | 9.07% | 6.85% | 5.36% | 4.34% | 6.68% | 6.68% | 5.08% | 5.11% | 4.75% | 7.13% | 4.81% | 5.94% | 2.54% | 3.96% | 4.2% |
| Operating Income Growth % | 213.82% | 45.67% | 27.04% | 32.12% | 20.73% | 44.8% | 12.25% | 15.19% | -9.73% | 25.4% | -15.66% | -8.27% | -31.03% | 111.19% | 68.45% | 24.88% | 57.04% | -74.14% | -7.35% | -10.48% |
| EBITDA | 3.95B | 3.92B | 2.24B | 1.03B | 1.9B | 2.93B | 2.43B | 2.13B | 1.76B | 2.33B | 2.31B | 2B | 1.88B | 2.04B | 2.59B | 2.01B | 2.28B | 1.39B | 2.29B | 2.26B |
| EBITDA Margin % | 9.01% | 11.74% | 8.29% | 3.48% | 8.14% | 12.32% | 9.99% | 8.5% | 7.93% | 10.45% | 10.37% | 8.7% | 8.98% | 8.16% | 10.49% | 7.62% | 8.71% | 6.28% | 8.66% | 9.33% |
| EBITDA Growth % | 107.46% | 33.58% | -7.93% | -51.32% | 7.82% | 25.77% | 5.42% | 6.51% | -6.02% | 14.15% | -11.03% | -0.89% | -17.49% | 46.66% | 13.37% | -10.77% | 2.25% | -60.76% | -8.11% | -8.84% |
| D&A (Non-Cash Add-back) | 0 | 773M | 121M | -738M | 738M | 774M | 765M | 784M | 800M | 841M | 822M | 831M | 809M | 854M | 832M | 744M | 726M | 830M | 1.24B | 1.24B |
| EBIT | 3.95B | 3.21B | 2.12B | 1.49B | 1.44B | 2.31B | 1.72B | 1.38B | 951M | 1.66B | 1.55B | 1.14B | 1.11B | 1.31B | 755M | 965M | 1.49B | -795M | 5.01B | 1.14B |
| Net Interest Income | 292M | -315M | -178M | -271M | -330M | -311M | -293M | -345M | -305M | -281M | -284M | -357M | -317M | -339M | -280M | -314M | -262M | -57M | -452M | -391M |
| Interest Income | 292M | 96M | 0 | 31M | 31M | 33M | 35M | 42M | 54M | 92M | 88M | 66M | 88M | 48M | 21M | 16M | 15M | 10M | 10M | 25M |
| Interest Expense | 0 | 411M | 178M | 302M | 361M | 344M | 328M | 387M | 359M | 374M | 372M | 423M | 405M | 387M | 301M | 330M | 277M | 67M | 462M | 416M |
| Other Income/Expense | 292M | -346M | -178M | -333M | -82M | -187M | -276M | -353M | -373M | -203M | -306M | -451M | -364M | -266M | -1.31B | -635M | -337M | -1.43B | 3.5B | -292M |
| Pretax Income | 3.95B | 2.8B | 1.94B | 1.44B | 1.08B | 1.97B | 1.39B | 989M | 592M | 1.29B | 1.18B | 714M | 705M | 923M | 454M | 635M | 1.21B | -862M | 4.55B | 725M |
| Pretax Margin % | 9.01% | 8.39% | 7.19% | 4.84% | 4.63% | 8.28% | 5.71% | 3.95% | 2.66% | 5.77% | 5.3% | 3.11% | 3.37% | 3.69% | 1.84% | 2.4% | 4.64% | -3.88% | 17.21% | 3% |
| Income Tax | 510M | 540M | 393M | 276M | 118M | 440M | 265M | 148M | -400M | 130M | 176M | 259M | 127M | 317M | 213M | 129M | 144M | -98M | 864M | 96M |
| Effective Tax Rate % | 12.92% | 19.29% | 20.25% | 19.17% | 10.9% | 22.31% | 19.04% | 14.96% | -67.57% | 10.09% | 14.92% | 36.27% | 18.01% | 34.34% | 46.92% | 20.31% | 11.87% | 11.37% | 19% | 13.24% |
| Net Income | 3.44B | 2.26B | 1.55B | 1.16B | 965M | 1.53B | 1.13B | 846M | 997M | 1.16B | 1.01B | 462M | 583M | 614M | 245M | 511M | 1.07B | 2M | 3.84B | 831M |
| Net Margin % | 7.84% | 6.77% | 5.73% | 3.91% | 4.13% | 6.44% | 4.65% | 3.38% | 4.48% | 5.2% | 4.52% | 2.01% | 2.79% | 2.45% | 0.99% | 1.93% | 4.1% | 0.01% | 14.54% | 3.44% |
| Net Income Growth % | 256.27% | 47.36% | 36.75% | 37.59% | -3.21% | 32.16% | 12.52% | 83.12% | 71.01% | 88.93% | 310.61% | -9.59% | -45.62% | 30600% | -93.62% | -38.51% | 20.86% | -99.84% | 361.9% | -20.71% |
| Net Income (Continuing) | 3.44B | 2.26B | 1.55B | 1.16B | 965M | 1.53B | 1.13B | 841M | 992M | 1.16B | 1B | 455M | 578M | 606M | 241M | 506M | 1.07B | -764M | 3.68B | 629M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 95M | 95M | 97M | 99M | 95M | 94M | 95M | 99M | 97M | 101M | 105M | 107M | 105M | 5.24B | 5.12B |
| EPS (Diluted) | 5.24 | 3.37 | 2.28 | 1.70 | 1.37 | 2.15 | 1.58 | 1.17 | 1.37 | 1.64 | 1.36 | 0.63 | 0.79 | 0.84 | 0.33 | 0.68 | 1.37 | 0.00 | 4.87 | 1.05 |
| EPS Growth % | 282.48% | 56.74% | 44.3% | 45.3% | 0% | 31.1% | 16.18% | 85.71% | 73.42% | 95.24% | 312.12% | -7.35% | -42.34% | - | -93.22% | -35.24% | 21.24% | -99.84% | 350.93% | -23.36% |
| EPS (Basic) | 5.30 | 3.47 | 2.31 | 1.72 | 1.39 | 2.20 | 1.61 | 1.19 | 1.41 | 1.64 | 1.39 | 0.64 | 0.81 | 0.86 | 0.34 | 0.69 | 1.42 | 0.00 | 5.02 | 1.09 |
| Diluted Shares Outstanding | 656M | 670.33M | 680M | 702M | 702M | 713.02M | 724M | 724M | 727M | 729.56M | 740M | 738M | 737M | 735M | 743M | 755M | 780M | 763M | 788M | 786M |
| Basic Shares Outstanding | 649M | 651.77M | 671M | 692M | 692M | 696.13M | 708M | 708M | 708M | 713.03M | 722M | 726M | 724M | 716M | 728M | 751.47M | 754M | 763M | 766M | 763M |
| Dividend Payout Ratio | 13.5% | 15.32% | 22.67% | 31.44% | 41.04% | 20.29% | 27.56% | 37.35% | 33.7% | 22.5% | 26.44% | 58.23% | 47.34% | 38.44% | 97.14% | 47.36% | 23.13% | - | - | - |