Dell Technologies Inc.
DELL· NYSE· Electronic Computers
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 7.5%
- ROIC, 5 yr avg
- 46.9%
- Revenue, 5 yr CAGR
- +5.5%
We record prices for the companies we cover; DELL is not one of them yet.
Company statistics
Profile · FY2026
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 684.0M
- Revenue
- $113.5B
- Free cash flow
- $8.6B
- Owner earnings
- $7.8B
Valuation · FY2026
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2026
- Gross
- 20.0%
- Operating
- 7.2%
- Net
- 5.2%
- Free cash flow
- 7.5%
- Owner earnings
- 6.9%
- Stock pay
- 0.6%
Returns
- ROIC, FY2026
- 70.0%
- ROIC, 5 yr avg
- 46.9%
- ROE, FY2026
- –
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- 3.5%
- Revenue, 5 yr
- 5.5%
- Revenue, 9 yr
- 6.9%
- Diluted EPS, 3 yr
- 38.9%
- Diluted EPS, 5 yr
- 15.5%
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- 147.8%
- Free cash flow, 5 yr
- -1.7%
- Free cash flow, 9 yr
- 19.9%
Financial health · FY2026
- Cash and investments
- $11.5B
- Total debt
- $23.5B
- Net debt
- $12.0B
- Debt/Equity
- –
- Debt/FCF
- 2.7x
Shareholder returns · FY2026
- Dividend yield
- –
- Payout ratio
- 24.6%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -2.3%
Financials: ten years from the 10-Ks
Revenue
$113.5B
+6.9% a year over 9 years
FY2017FY2026
Margins
Gross20.0%Operating7.2%Net5.2%
FY2026
FY2017FY2026
Free cash flow and owner earnings
Free cash flow$8.6BOwner earnings$7.8B
Free cash flow +19.9% a year
FY2017FY2026
Diluted shares
684.0M
-8.9% over 9 years, net buybacks
FY2017FY2026
Return on invested capital
70.0%
FY2026
FY2017FY2026
Net debt (below zero)
-$12.0B
$12.0B more debt than cash
FY2017FY2026
Every figure, year by year
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $62.2B | $79.0B | $90.6B | $84.8B | $86.7B | $101.2B | $102.3B | $88.4B | $95.6B | $113.5B |
| Revenue growth | 22.1% | 27.1% | 14.7% | -6.4% | 2.2% | 16.8% | 1.1% | -13.6% | 8.1% | 18.8% |
| Gross margin | 22.0% | 26.0% | 27.6% | 24.3% | 23.2% | 21.6% | 22.2% | 23.8% | 22.2% | 20.0% |
| Operating margin | -3.8% | -3.1% | -0.2% | 2.8% | 4.3% | 4.6% | 5.6% | 6.1% | 6.5% | 7.2% |
| Net income | -$1.2B | -$2.8B | -$2.3B | $4.6B | $3.3B | $5.6B | $2.4B | $3.4B | $4.6B | $5.9B |
| Net margin | -1.9% | -3.6% | -2.5% | 5.4% | 3.7% | 5.5% | 2.4% | 3.8% | 4.8% | 5.2% |
| Diluted EPS | – | – | – | $6.03 | $4.22 | – | $3.24 | $4.60 | $6.38 | $8.68 |
| Return on invested capital? | – | – | – | – | 13.6% | 39.0% | 38.4% | 47.4% | 39.7% | 70.0% |
| Cash | ||||||||||
| Operating cash flow | $2.4B | $6.8B | $7.0B | $9.3B | $11.4B | $10.3B | $3.6B | $8.7B | $4.5B | $11.2B |
| Capital expenditure | $699.0M | $1.2B | $1.5B | $2.6B | $2.1B | $2.8B | $3.0B | $2.8B | $2.7B | $2.6B |
| Free cash flow | $1.7B | $5.6B | $5.5B | $6.7B | $9.3B | $7.5B | $562.0M | $5.9B | $1.9B | $8.6B |
| Stock-based compensation | $398.0M | $835.0M | $918.0M | $1.3B | $1.6B | $1.6B | $931.0M | $878.0M | $785.0M | $723.0M |
| Owner earnings? | $1.3B | $4.8B | $4.6B | $5.5B | $7.7B | $5.9B | -$369.0M | $5.0B | $1.1B | $7.8B |
| Free cash flow per share | – | – | – | $8.94 | $12.16 | $9.50 | $0.75 | $8.04 | $2.60 | $12.50 |
| Capital allocation | ||||||||||
| Dividends paid | $0 | $0 | $2.1B | $0 | $0 | $0 | $964.0M | $1.1B | $1.3B | $1.5B |
| Share repurchases | $611.0M | $724.0M | $14.1B | $8.0M | $241.0M | $1.5B | $2.9B | $2.1B | $2.6B | $6.0B |
| Diluted shares | – | – | – | 751.0M | 767.0M | 791.0M | 753.0M | 736.0M | 720.0M | 684.0M |
| Share count change? | – | – | – | – | 2.1% | 3.1% | -4.8% | -2.3% | -2.2% | -5.0% |
| Balance sheet | ||||||||||
| Cash and equivalents | $9.5B | $13.9B | $9.7B | $9.3B | $9.5B | $9.5B | $8.6B | $7.4B | $3.6B | $11.5B |
| Short-term investments | $2.0B | $2.2B | $0 | – | – | – | – | – | – | – |
| Total debt | $43.1B | $44.0B | $49.2B | $44.3B | $32.9B | $21.1B | $23.0B | $19.0B | $19.4B | $23.5B |
| Net debt | $31.6B | $27.9B | $39.5B | $35.0B | $23.4B | $11.7B | $14.4B | $11.6B | $15.7B | $12.0B |
| Shareholders' equity | $13.2B | $11.7B | -$5.8B | -$1.6B | $2.5B | -$1.7B | -$3.1B | -$2.2B | -$1.5B | -$2.5B |
Latest filings
| 2026-09-08 | 10-Q | Quarterly report |
| 2026-09-01 | 8-K | Earnings release |
| 2026-06-09 | 10-Q | Quarterly report |
| 2026-05-28 | 8-K | Earnings release |
| 2026-05-15 | DEF 14A | Proxy statement |
| 2026-03-16 | 10-K | Annual report |
| 2026-02-26 | 8-K | Earnings release |
| 2025-12-09 | 10-Q | Quarterly report |
| 2025-11-25 | 8-K | Earnings release |
| 2025-09-08 | 10-Q | Quarterly report |
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