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Stocks · Technology · Electronic Computers

Dell Technologies

DELL Clue Score43
United States Fiscal year ends January CIK 0001571996
$586.06 +2.00% Close, 9 Oct 2026
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Price $586.06 +457.09% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 21 Dec 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue79.04Operating income−2.42Net income−2.85Fiscal year 2019Revenue90.62 +14.7%Operating income−0.19Net income−2.31Fiscal year 2020Revenue84.82 −6.4%Operating income2.37Net income4.62EPS, diluted6.03Fiscal year 2021Revenue86.67 +2.2%Operating income3.69Net income3.25 −29.6%EPS, diluted4.22 −30.0%Fiscal year 2022Revenue101.20 +16.8%Operating income4.66Net income5.56 +71.2%EPS, diluted6.26 +48.3%Fiscal year 2023Revenue102.30 +1.1%Operating income5.77Net income2.44 −56.1%EPS, diluted3.24 −48.2%Fiscal year 2024Revenue88.43 −13.6%Operating income5.41Net income3.39 +38.7%EPS, diluted4.60 +42.0%Fiscal year 2025Revenue95.57 +8.1%Operating income6.24Net income4.59 +35.5%EPS, diluted6.38 +38.7%Fiscal year 2026Revenue113.54 +18.8%Operating income8.15Net income5.94 +29.3%EPS, diluted8.68 +36.1%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 79.04 90.62 84.82 86.67 101.20 102.30 88.43 95.57 113.54
Growth +14.7% −6.4% +2.2% +16.8% +1.1% −13.6% +8.1% +18.8%
Operating income −2.42 −0.19 2.37 3.69 4.66 5.77 5.41 6.24 8.15
Net income −2.85 −2.31 4.62 3.25 5.56 2.44 3.39 4.59 5.94
Growth −29.6% +71.2% −56.1% +38.7% +35.5% +29.3%
EPS, diluted n/a n/a 6.03 4.22 6.26 3.24 4.60 6.38 8.68
Growth −30.0% +48.3% −48.2% +42.0% +38.7% +36.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin26.0%Operating margin−3.1%Net margin−3.6%Free cash flow margin7.1%Fiscal year 2019Gross margin27.6%Operating margin−0.2%Net margin−2.5%Free cash flow margin6.1%Fiscal year 2020Gross margin24.3%Operating margin2.8%Net margin5.4%Free cash flow margin7.9%Fiscal year 2021Gross margin23.2%Operating margin4.3%Net margin3.7%Free cash flow margin10.8%Fiscal year 2022Gross margin21.6%Operating margin4.6%Net margin5.5%Free cash flow margin7.4%Fiscal year 2023Gross margin22.2%Operating margin5.6%Net margin2.4%Free cash flow margin0.5%Fiscal year 2024Gross margin23.8%Operating margin6.1%Net margin3.8%Free cash flow margin6.7%Fiscal year 2025Gross margin22.2%Operating margin6.5%Net margin4.8%Free cash flow margin2.0%Fiscal year 2026Gross margin20.0%Operating margin7.2%Net margin5.2%Free cash flow margin7.5%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 26.0% 27.6% 24.3% 23.2% 21.6% 22.2% 23.8% 22.2% 20.0%
Operating margin −3.1% −0.2% 2.8% 4.3% 4.6% 5.6% 6.1% 6.5% 7.2%
Net margin −3.6% −2.5% 5.4% 3.7% 5.5% 2.4% 3.8% 4.8% 5.2%
Free cash flow margin 7.1% 6.1% 7.9% 10.8% 7.4% 0.5% 6.7% 2.0% 7.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow6.84Capital expenditure−1.21Free cash flow5.63Dividends paid0.00Fiscal year 2019Operating cash flow6.99Capital expenditure−1.50Free cash flow5.49 −2.4%Buybacks−14.08Dividends paid−2.13Fiscal year 2020Operating cash flow9.29Capital expenditure−2.58Free cash flow6.72 +22.2%Buybacks−0.01Dividends paid0.00Fiscal year 2021Operating cash flow11.41Capital expenditure−2.08Free cash flow9.33 +38.9%Buybacks−0.24Dividends paid0.00Fiscal year 2022Operating cash flow10.31Capital expenditure−2.80Free cash flow7.51 −19.5%Buybacks−1.50Dividends paid0.00Fiscal year 2023Operating cash flow3.57Capital expenditure−3.00Free cash flow0.56 −92.5%Buybacks−2.88Dividends paid−0.96Fiscal year 2024Operating cash flow8.68Capital expenditure−2.76Free cash flow5.92 +953.4%Buybacks−2.08Dividends paid−1.07Fiscal year 2025Operating cash flow4.52Capital expenditure−2.65Free cash flow1.87 −68.4%Buybacks−2.59Dividends paid−1.28Fiscal year 2026Operating cash flow11.19Capital expenditure−2.63Free cash flow8.55 +357.6%Buybacks−6.01Dividends paid−1.46
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 6.84 6.99 9.29 11.41 10.31 3.57 8.68 4.52 11.19
Capital expenditure −1.21 −1.50 −2.58 −2.08 −2.80 −3.00 −2.76 −2.65 −2.63
Free cash flow 5.63 5.49 6.72 9.33 7.51 0.56 5.92 1.87 8.55
Growth −2.4% +22.2% +38.9% −19.5% −92.5% +953.4% −68.4% +357.6%
Buybacks n/a −14.08 −0.01 −0.24 −1.50 −2.88 −2.08 −2.59 −6.01
Dividends paid 0.00 −2.13 0.00 0.00 0.00 −0.96 −1.07 −1.28 −1.46

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash13.94Total debt44.00Net cash (debt)−30.06Shareholders’ equity11.72Debt to equity3.75Fiscal year 2019Cash9.68Total debt49.20Net cash (debt)−39.53Shareholders’ equity−5.77Fiscal year 2020Cash9.30Total debt44.32Net cash (debt)−35.02Shareholders’ equity−1.57Fiscal year 2021Cash9.51Total debt32.87Net cash (debt)−23.36Shareholders’ equity2.48Debt to equity13.26Fiscal year 2022Cash9.48Total debt21.13Net cash (debt)−11.65Shareholders’ equity−1.69Fiscal year 2023Cash8.61Total debt23.02Net cash (debt)−14.41Shareholders’ equity−3.12Fiscal year 2024Cash7.37Total debt19.01Net cash (debt)−11.65Shareholders’ equity−2.23Fiscal year 2025Cash3.63Total debt19.36Net cash (debt)−15.73Shareholders’ equity−1.48Fiscal year 2026Cash11.53Total debt23.51Net cash (debt)−11.99Shareholders’ equity−2.47
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 13.94 9.68 9.30 9.51 9.48 8.61 7.37 3.63 11.53
Total debt 44.00 49.20 44.32 32.87 21.13 23.02 19.01 19.36 23.51
Net cash (debt) −30.06 −39.53 −35.02 −23.36 −11.65 −14.41 −11.65 −15.73 −11.99
Shareholders’ equity 11.72 −5.77 −1.57 2.48 −1.69 −3.12 −2.23 −1.48 −2.47
Debt to equity 3.75 n/a n/a 13.26 n/a n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending January, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 2 Feb 2018 FY2019 1 Feb 2019 FY2020 31 Jan 2020 FY2021 29 Jan 2021 FY2022 28 Jan 2022 FY2023 3 Feb 2023 FY2024 2 Feb 2024 FY2025 31 Jan 2025 FY2026 30 Jan 2026
Revenue and profit
79.04 90.62 84.82 86.67 101.20 102.30 88.43 95.57 113.54
Growth +14.7% −6.4% +2.2% +16.8% +1.1% −13.6% +8.1% +18.8%
58.50 65.57 64.18 66.53 79.31 79.62 67.36 74.32 90.83
20.54 25.05 20.64 20.14 21.89 22.69 21.07 21.25 22.71
Growth +22.0% −17.6% −2.4% +8.7% +3.6% −7.1% +0.9% +6.9%
4.38 4.60 2.45 2.46 2.58 2.78 2.80 3.06 3.14
18.57 20.64 15.82 14.00 14.66 14.14 12.86 11.95 11.42
−2.42 −0.19 2.37 3.69 4.66 5.77 5.41 6.24 8.15
Growth +55.7% +26.4% +23.9% −6.2% +15.3% +30.7%
−4.77 −2.36 −0.05 2.35 5.92 3.23 4.09 5.05 7.26
−1.84 −0.18 −0.57 0.10 0.98 0.80 0.72 0.47 1.33
−2.85 −2.31 4.62 3.25 5.56 2.44 3.39 4.59 5.94
Growth −29.6% +71.2% −56.1% +38.7% +35.5% +29.3%
Per share
n/a n/a 6.38 4.37 6.49 3.33 4.71 6.51 8.79
n/a n/a 6.03 4.22 6.26 3.24 4.60 6.38 8.68
Growth −30.0% +48.3% −48.2% +42.0% +38.7% +36.1%
n/a n/a 724.0 744.0 762.0 734.0 720.0 705.0 675.0
n/a n/a 751.0 767.0 791.0 753.0 736.0 720.0 684.0
Growth +2.1% +3.1% −4.8% −2.3% −2.2% −5.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 5.5% a year over five years, and earnings per share grew 15.5% a year.
  • The diluted share count fell 10.8% in five years, so buybacks did some of the work per share.
  • Operating margin is up 2.9 points on five years ago, at 7.2%.
  • A net loss in 2 of 9 years on file.