What is Dell Technologies Inc.'s earnings per share (EPS)?

Dell Technologies Inc. (DELL) reported diluted earnings per share of $8.68 for fiscal year 2026. This represents a 36.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Dell Technologies Inc. (DELL) Financials

DELL

FY2026 annual

Revenue $113.5B +18.8% YoY

Net Income $5.9B +29.7% YoY

EPS (Diluted) $8.68 +36.1% YoY

Free Cash Flow $8.6B +357.6% YoY

Market Cap $372.6B as of Oct 9, 2026

Price / Sales 3.3x on $113.5B revenue, FY2026

Price / Earnings 62.8x on $5.9B net income, FY2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2027, ended Jul 31, 2026 Reported Sep 8, 2026 Currency USD FYE January

Newest figures come from the 10-Q for Q2 FY2027, filed Sep 8, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DELL SEC filings page.

Dell Technologies Inc. (DELL) reported $113.5B in revenue for fiscal year 2026, up 18.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI DELL FY2026 2026-10-04

Dell's recovery is converting into cash and operating profit through overhead efficiency, even as gross margins compress and equity remains negative.

Gross economics weakened: gross margin fell from 23.8% in FY2024 to 20.0% in FY2026, yet operating margin expanded as SG&A declined despite higher sales. That divergence indicates overhead efficiency, rather than improving unit economics, drove the operating recovery.

FY2026 net income of $5.9B translated into operating cash flow of $11.2B, showing accounting earnings were accompanied by cash generation. That conversion recovered from FY2025, when free cash flow was only $1.9B despite positive net income, consistent with working capital absorbing cash as receivables and inventory expanded.

The balance sheet remains liability-heavy: FY2026 total liabilities exceeded total assets, leaving equity negative, while the current ratio improved to 0.9x from 0.8x in FY2025. Operating recovery therefore has not translated into conventional balance-sheet cushion; rising current assets were matched by rising current liabilities.

Financial Health Signals

Financial Health Score 56/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Dell Technologies Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Dell Technologies Inc. has an operating margin of 7.2%, meaning the company retains $7 of operating profit per $100 of revenue. This strong profitability earns a score of 65/100, reflecting efficient cost management and pricing power. This is up from 6.5% the prior year.

Growth

Dell Technologies Inc.'s revenue surged 18.8% year-over-year to $113.5B, reflecting rapid business expansion. This strong growth earns a score of 72/100.

Leverage

Liquidity

Dell Technologies Inc.'s current ratio of 0.91 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Dell Technologies Inc. has a free cash flow margin of 7.5%, earning a moderate score of 48/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Altman Z-Score Safe

3.52

Dell Technologies Inc. scores 3.52, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($372.6B) relative to total liabilities ($103.8B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

7/9

Dell Technologies Inc. passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.88x

For every $1 of reported earnings, Dell Technologies Inc. generates $1.88 in operating cash flow ($11.2B OCF vs $5.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

5.22x

Dell Technologies Inc. earns $5.22 in operating income for every $1 of interest expense ($8.1B vs $1.6B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$47.0B

YoY+100.9%

QoQ+40.7%

5Y CAGR+16.8%

Dell Technologies Inc. generated $47.0B in revenue in Q2 2027. This represents an increase of 100.9% from the same quarter a year earlier. Against the prior quarter it is up 40.7%.

EBITDA

$6.1B

YoY+222.6%

QoQ+58.8%

Dell Technologies Inc.'s EBITDA was $6.1B in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 222.6% from the same quarter a year earlier. Against the prior quarter it is up 58.8%.

Net Income

$4.1B

YoY+328.3%

QoQ+83.0%

5Y CAGR+37.8%

Dell Technologies Inc. reported $4.1B in net income in Q2 2027. This represents an increase of 328.3% from the same quarter a year earlier. Against the prior quarter it is up 83.0%.

EPS (Diluted)

$6.34

YoY+362.8%

QoQ+89.8%

5Y CAGR+42.5%

Dell Technologies Inc. earned $6.34 per diluted share (EPS) in Q2 2027. This represents an increase of 362.8% from the same quarter a year earlier. Against the prior quarter it is up 89.8%.

Cash & Balance Sheet

Free Cash Flow

$986.0M

YoY-55.7%

QoQ-75.1%

5Y CAGR-17.1%

Dell Technologies Inc. generated $986.0M in free cash flow in Q2 2027, representing cash available after capex. This represents a decrease of 55.7% from the same quarter a year earlier. Against the prior quarter it is down 75.1%.

Cash & Debt

$11.6B

YoY+50.2%

QoQ+0.4%

5Y CAGR+0.5%

Dell Technologies Inc. held $11.6B in cash against $26.0B in long-term debt as of Q2 2027.

Dividends Per Share

$0.63

YoY+20.0%

QoQ+20.0%

Dell Technologies Inc. paid $0.63 per share in dividends in Q2 2027. This represents an increase of 20.0% from the same quarter a year earlier. Against the prior quarter it is up 20.0%.

Shares Outstanding

640M

YoY-6.3%

QoQ-1.8%

5Y CAGR-3.1%

Dell Technologies Inc. had 640M shares outstanding in Q2 2027. This represents a decrease of 6.3% from the same quarter a year earlier. Against the prior quarter it is down 1.8%.

Margins & Returns

Gross Margin

20.9%

YoY-0.2pp

QoQ+0.8pp

5Y change-2.3pp

Dell Technologies Inc.'s gross margin was 20.9% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Operating Margin

11.5%

YoY+6.5pp

QoQ+2.2pp

Dell Technologies Inc.'s operating margin was 11.5% in Q2 2027, reflecting core business profitability. This is up 6.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.

Net Margin

8.8%

YoY+4.7pp

QoQ+2.0pp

5Y change+4.9pp

Dell Technologies Inc.'s net profit margin was 8.8% in Q2 2027, showing the share of revenue converted to profit. This is up 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Return on Equity

Not reported for Q2 2027.

Capital Allocation

R&D Spending

$1.1B

YoY+37.3%

QoQ+39.1%

Dell Technologies Inc. invested $1.1B in research and development in Q2 2027. This represents an increase of 37.3% from the same quarter a year earlier. Against the prior quarter it is up 39.1%.

Share Buybacks

$3.8B

YoY+91.7%

QoQ+105.5%

Dell Technologies Inc. spent $3.8B on share buybacks in Q2 2027, returning capital to shareholders by reducing shares outstanding. This represents an increase of 91.7% from the same quarter a year earlier. Against the prior quarter it is up 105.5%.

Capital Expenditures

$1.2B

YoY+118.1%

QoQ+71.8%

5Y CAGR+20.9%

Dell Technologies Inc. invested $1.2B in capex in Q2 2027, funding long-term assets and infrastructure. This represents an increase of 118.1% from the same quarter a year earlier. Against the prior quarter it is up 71.8%.

DELL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DELL quarterly income statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$113.5B+18.8%	$95.6B+8.1%	$88.4B-13.6%	$102.3B+1.1%	$101.2B+16.8%	$86.7B+2.2%	$84.8B-6.4%	$90.6B+14.7%	$79.0B+27.1%	$62.2B+22.1%	$50.9B-6.0%	$54.1B
Cost of Revenue	$90.8B+22.2%	$74.3B+10.3%	$67.4B-15.4%	$79.6B+0.4%	$79.3B+19.2%	$66.5B+3.7%	$64.2B-2.1%	$65.6B+12.1%	$58.5B+20.6%	$48.5B+14.1%	$42.5B-6.0%	$45.2B
Gross Profit	$22.7B+6.9%	$21.3B+0.9%	$21.1B-7.1%	$22.7B+3.6%	$21.9B+8.7%	$20.1B-2.4%	$20.6B-17.6%	$25.1B+22.0%	$20.5B+50.5%	$13.6B+62.7%	$8.4B-5.7%	$8.9B
R&D Expenses	$3.1B+2.6%	$3.1B+9.3%	$2.8B+0.8%	$2.8B+7.8%	$2.6B+5.0%	$2.5B0.0%	$2.5B-46.7%	$4.6B+5.0%	$4.4B+66.3%	$2.6B+150.8%	$1.1B+14.2%	$920.0M
SG&A Expenses	$11.4B-4.5%	$12.0B-7.0%	$12.9B-9.0%	$14.1B-3.5%	$14.7B+4.7%	$14.0B-11.5%	$15.8B-23.4%	$20.6B+11.2%	$18.6B+38.5%	$13.4B+70.7%	$7.8B-5.3%	$8.3B
Operating Income	$8.1B+30.7%	$6.2B+15.3%	$5.4B-6.2%	$5.8B+23.9%	$4.7B+26.4%	$3.7B+55.7%	$2.4B+1338.7%	-$191.0M+92.1%	-$2.4B-1.1%	-$2.4B-365.0%	-$514.0M-62.7%	-$316.0M
EBITDA	$11.2B+19.4%	$9.4B+7.4%	$8.7B-2.4%	$8.9B-3.1%	$9.2B+1.5%	$9.1B+6.7%	$8.5B+12.6%	$7.6B+21.5%	$6.2B+144.0%	$2.5B+8.1%	$2.4B-11.4%	$2.7B
Interest Expense	$1.6B+11.9%	$1.4B-7.1%	$1.5B+22.8%	$1.2B-20.8%	$1.5B-24.9%	$2.1B-12.1%	$2.3B-6.2%	$2.5B+3.4%	$2.4B+37.4%	$1.8B+157.5%	$680.0M-15.7%	$807.0M
Income Tax	$1.3B+181.1%	$472.0M-34.0%	$715.0M-11.0%	$803.0M-18.1%	$981.0M+871.3%	$101.0M+117.7%	-$572.0M-217.8%	-$180.0M+90.2%	-$1.8B-29.8%	-$1.4B-1103.4%	-$118.0M-10.3%	-$107.0M
Net Income	$5.9B+29.7%	$4.6B+35.7%	$3.4B+39.2%	$2.4B-57.6%	$5.7B+75.6%	$3.3B-29.6%	$4.6B+299.8%	-$2.3B+18.9%	-$2.8B-144.1%	-$1.2B-5.7%	-$1.1B+9.6%	-$1.2B
EPS (Basic)	$8.79+35.0%	$6.51+38.2%	$4.71+41.4%	$3.33-48.7%	$6.49+48.5%	$4.37-31.5%	$6.38	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$8.68+36.1%	$6.38+38.7%	$4.60+42.0%	$3.24-48.2%	$6.26+48.3%	$4.22-30.0%	$6.03	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	684M-5.0%	720M-2.2%	736M-2.3%	753M-4.8%	791M+3.1%	767M+2.1%	751M	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-K
Revenue	$47.0B+100.9%	$33.4B+37.0%	$27.0B+7.9%	$23.4B+5.1%	$24.4B+9.5%	$25.0B+9.1%	$22.2B+6.3%	$22.3B-26.2%
Cost of Revenue	$37.1B+101.4%	$26.6B+40.2%	$21.4B+8.9%	$18.4B+6.0%	$19.0B+11.5%	$19.7B+12.3%	$17.4B+9.8%	$16.9B-28.7%
Gross Profit	$9.8B+99.1%	$6.7B+25.6%	$5.6B+4.3%	$4.9B+1.8%	$5.4B+3.1%	$5.4B-1.0%	$4.9B-4.5%	$5.4B-16.8%
R&D Expenses	$1.1B+37.3%	$797.0M+7.0%	$752.0M-3.6%	$808.0M+5.9%	$745.0M+7.7%	$780.0M+10.6%	$763.0M+10.9%	N/A
SG&A Expenses	$3.3B+12.6%	$2.8B-1.8%	$2.7B-14.6%	$3.0B-5.1%	$2.9B-2.6%	$3.2B-9.3%	$3.1B-4.2%	N/A
Operating Income	$5.4B+362.2%	$3.1B+79.7%	$2.1B+52.2%	$1.2B+20.7%	$1.7B+11.8%	$1.4B+16.6%	$965.0M-14.7%	$1.5B-3.8%
EBITDA	$6.1B+222.6%	$3.9B+55.5%	$2.9B+32.1%	$1.9B+7.8%	$2.5B+5.3%	$2.2B+7.5%	$1.8B-9.0%	$2.4B+0.4%
Interest Expense	$400.0M+13.0%	$410.0M+27.7%	$396.0M+2.3%	$354.0M+3.2%	$321.0M-13.5%	$387.0M+9.9%	$343.0M-15.3%	N/A
Income Tax	$998.0M+745.8%	$540.0M+96.4%	$393.0M+150.3%	$118.0M+129.5%	$275.0M+50.3%	$157.0M-39.8%	-$400.0M-396.3%	$136.0M-58.3%
Net Income	$4.1B+328.3%	$2.3B+92.3%	$1.5B+74.5%	$965.0M-3.2%	$1.2B+11.7%	$887.0M+81.4%	$997.0M+56.5%	$1.2B+17.6%
EPS (Basic)	$6.41+361.2%	$3.38+102.4%	$2.31+84.8%	$1.39-1.4%	$1.67+14.4%	$1.25+86.6%	$1.41+60.2%	$1.70+97.7%
EPS (Diluted)	$6.34+362.8%	$3.34+103.7%	$2.28+85.4%	$1.370.0%	$1.64+15.5%	$1.23+86.4%	$1.37+59.3%	$1.66
Diluted Shares (Avg)	652M-7.1%	N/A	680M-6.1%	702M-3.4%	717M-3.1%	724M-1.9%	727M-1.4%	N/A

DELL Balance Sheet

DELL quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$101.3B+27.0%	$79.7B-2.9%	$82.1B-8.4%	$89.6B-3.4%	$92.7B-24.9%	$123.4B+3.8%	$118.9B+6.3%	$111.8B-10.0%	$124.2B+3.8%	$119.7B+165.2%	$45.1B	N/A
Current Assets	$57.6B+59.0%	$36.2B+0.7%	$36.0B-15.0%	$42.4B-6.0%	$45.0B+3.4%	$43.6B+18.2%	$36.9B+2.0%	$36.1B-10.4%	$40.3B+26.4%	$31.9B+35.3%	$23.6B	N/A
Cash & Equivalents	$11.5B+217.3%	$3.6B-50.7%	$7.4B-14.4%	$8.6B-9.2%	$9.5B-0.3%	$9.5B+2.2%	$9.3B-3.9%	$9.7B-30.6%	$13.9B+47.2%	$9.5B+49.9%	$6.3B+17.1%	$5.4B
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$2.2B+10.7%	$2.0B	$0	$0
Inventory	$10.4B+55.4%	$6.7B+85.4%	$3.6B-24.2%	$4.8B-19.0%	$5.9B+73.3%	$3.4B+3.7%	$3.3B-10.1%	$3.6B+36.3%	$2.7B+5.5%	$2.5B+56.8%	$1.6B	N/A
Accounts Receivable	$17.6B+70.8%	$10.3B+10.2%	$9.3B-25.1%	$12.5B-3.3%	$12.9B+20.3%	$10.7B-14.0%	$12.5B+0.9%	$12.4B+5.5%	$11.7B+18.5%	$9.9B+102.4%	$4.9B	N/A
Long-Term Investments	$1.7B+15.6%	$1.5B+13.7%	$1.3B-13.3%	$1.5B-17.5%	$1.8B+37.9%	$1.3B+54.4%	$864.0M-14.0%	$1.0B-75.9%	$4.2B	$0	$0	$0
Goodwill	$19.5B+2.2%	$19.1B-2.9%	$19.7B+0.1%	$19.7B-0.5%	$19.8B-1.3%	$20.0B-5.3%	$21.2B-47.2%	$40.1B+0.4%	$39.9B+2.6%	$38.9B+362.9%	$8.4B0.0%	$8.4B
Total Liabilities	$103.8B+27.9%	$81.1B-3.7%	$84.3B-9.0%	$92.6B-1.8%	$94.3B-18.3%	$115.4B+0.3%	$115.1B+3.1%	$111.6B+4.9%	$106.3B+7.5%	$98.9B+127.0%	$43.5B	N/A
Current Liabilities	$63.3B+36.0%	$46.5B-3.8%	$48.4B-6.4%	$51.7B-8.1%	$56.2B+3.9%	$54.1B+3.2%	$52.5B+16.6%	$45.0B-1.9%	$45.8B+20.1%	$38.2B+50.8%	$25.3B	N/A
Non-Current Liabilities	$40.5B+17.0%	$34.6B-3.6%	$35.9B-12.4%	$41.0B+7.6%	$38.1B-37.8%	$61.3B-2.2%	$62.6B-6.0%	$66.6B+10.1%	$60.5B-0.3%	$60.7B+232.8%	$18.2B	N/A
Long-Term Debt	$23.5B+21.4%	$19.4B+1.8%	$19.0B-17.4%	$23.0B+8.9%	$21.1B-35.7%	$32.9B-25.8%	$44.3B-9.9%	$49.2B+11.8%	$44.0B+2.2%	$43.1B+304.3%	$10.7B	N/A
Total Equity	-$2.5B-66.7%	-$1.5B+33.5%	-$2.2B+28.7%	-$3.1B-85.3%	-$1.7B-168.0%	$2.5B+257.5%	-$1.6B+72.7%	-$5.8B-149.2%	$11.7B-20.6%	$14.8B+906.6%	$1.5B-49.5%	$2.9B
Retained Earnings	$3.3B+386.6%	-$1.2B+74.0%	-$4.5B+33.9%	-$6.7B+17.8%	-$8.2B+40.5%	-$13.8B+18.6%	-$16.9B+20.9%	-$21.3B-211.2%	-$6.9B-67.5%	-$4.1B-4.0%	-$3.9B	N/A

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-K
Total Assets	$127.4B+46.6%	$101.3B+23.6%	$87.5B+5.8%	$86.9B+8.3%	$82.0B-1.6%	$82.7B-3.5%	$80.2B-4.6%	$82.1B-8.4%
Current Assets	$80.5B+87.6%	$57.6B+51.4%	$43.1B+14.8%	$42.9B+24.0%	$38.0B+2.8%	$37.5B-3.7%	$34.6B-7.4%	$36.0B-15.0%
Cash & Equivalents	$11.6B+50.2%	$11.5B+120.6%	$9.6B+110.3%	$7.7B+32.1%	$5.2B-37.0%	$4.5B-45.6%	$5.8B-23.6%	$7.4B-14.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$21.3B+187.1%	$10.4B+56.9%	$6.9B+16.7%	$7.4B+55.1%	$6.7B+96.7%	$6.0B+66.1%	$4.8B+19.1%	$3.6B-24.2%
Accounts Receivable	$22.9B+134.2%	$17.6B+57.2%	$11.7B+2.9%	$9.8B+14.3%	$11.2B	$11.4B	$8.6B-8.9%	$9.3B-25.1%
Long-Term Investments	$2.7B+68.4%	$1.7B+31.9%	$1.8B+35.2%	$1.6B+23.0%	$1.3B+1.4%	$1.3B-2.2%	$1.3B-7.6%	$1.3B-13.3%
Goodwill	$19.4B+0.7%	$19.5B+1.6%	$19.4B-1.5%	$19.3B-1.7%	$19.2B-1.9%	$19.7B+0.1%	$19.6B-0.1%	$19.7B+0.1%
Total Liabilities	$128.8B+43.3%	$103.8B+23.3%	$90.1B+5.4%	$89.9B+8.4%	$84.1B-2.0%	$85.5B-3.2%	$82.9B-4.7%	$84.3B-9.0%
Current Liabilities	$83.7B+66.0%	$63.3B+27.8%	$50.5B-2.9%	$50.4B+5.6%	$49.5B+1.3%	$52.0B+2.1%	$47.7B+1.9%	$48.4B-6.4%
Non-Current Liabilities	$45.1B+14.3%	$40.5B+16.9%	$39.6B+18.3%	$39.5B+12.2%	$34.6B-6.3%	$33.5B-10.5%	$35.2B-12.5%	$35.9B-12.4%
Long-Term Debt	$26.0B+8.6%	$23.5B+21.1%	$23.8B+33.9%	$23.9B+23.5%	$19.4B-3.5%	$17.8B-11.7%	$19.4B-15.6%	$19.0B-17.4%
Total Equity	-$1.4B+52.8%	-$2.5B-8.1%	-$2.6B+9.5%	-$3.0B-7.2%	-$2.3B+14.2%	-$2.9B-4.4%	-$2.8B+6.6%	-$2.2B+28.7%
Retained Earnings	$10.1B+1875.1%	$3.3B+224.6%	$1.4B+140.8%	-$567.0M+85.8%	-$2.7B+51.6%	-$3.5B+44.3%	-$4.0B+37.8%	-$4.5B+33.9%

DELL Cash Flow Statement

DELL quarterly cash flow statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$11.2B+147.4%	$4.5B-47.9%	$8.7B+143.4%	$3.6B-65.4%	$10.3B-9.6%	$11.4B+22.8%	$9.3B+32.9%	$7.0B+2.2%	$6.8B+189.1%	$2.4B+9.5%	$2.2B-15.2%	$2.6B
Depreciation & Amortization	$3.0B-3.0%	$3.1B-5.4%	$3.3B+4.7%	$3.2B-30.7%	$4.6B-15.6%	$5.4B-12.3%	$6.1B-20.7%	$7.7B-10.3%	$8.6B+74.8%	$4.9B+71.9%	$2.9B-3.5%	$3.0B
Stock-Based Compensation	$723.0M-7.9%	$785.0M-10.6%	$878.0M-5.7%	$931.0M-42.6%	$1.6B+0.8%	$1.6B+27.5%	$1.3B+37.5%	$918.0M+9.9%	$835.0M+109.8%	$398.0M+452.8%	$72.0M0.0%	$72.0M
Capital Expenditures	$2.6B-0.7%	$2.7B-3.8%	$2.8B-8.2%	$3.0B+7.4%	$2.8B+34.3%	$2.1B-19.2%	$2.6B+72.1%	$1.5B+23.5%	$1.2B+73.4%	$699.0M+45.0%	$482.0M+0.8%	$478.0M
Free Cash Flow	$8.6B+357.6%	$1.9B-68.4%	$5.9B+953.4%	$562.0M-92.5%	$7.5B-19.5%	$9.3B+38.9%	$6.7B+22.2%	$5.5B-2.4%	$5.6B+237.6%	$1.7B-0.7%	$1.7B-19.0%	$2.1B
Investing Cash Flow	-$2.1B+7.2%	-$2.2B+20.4%	-$2.8B+8.0%	-$3.0B-331.5%	$1.3B+383.9%	-$460.0M+90.2%	-$4.7B-238.3%	$3.4B+217.9%	-$2.9B+90.8%	-$31.2B-9630.8%	-$321.0M+9.6%	-$355.0M
Financing Cash Flow	-$1.5B+74.8%	-$5.8B+18.0%	-$7.1B-336.6%	-$1.6B+90.2%	-$16.6B-179.1%	-$6.0B-29.2%	-$4.6B+67.9%	-$14.3B-3655.6%	$403.0M-98.7%	$31.8B+6508.3%	-$496.0M+84.0%	-$3.1B
Dividends Paid	$1.5B+14.4%	$1.3B+18.9%	$1.1B+11.2%	$964.0M	$0	$0	$0-100.0%	$2.1B	$0	$0	N/A	N/A
Share Buybacks	$6.0B+132.4%	$2.6B+24.4%	$2.1B-27.9%	$2.9B+92.7%	$1.5B+520.7%	$241.0M+2912.5%	$8.0M-99.9%	$14.1B+1844.1%	$724.0M+18.5%	$611.0M	N/A	N/A

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-K
Operating Cash Flow	$2.2B-20.4%	$4.7B+201.0%	$1.2B-12.5%	$2.8B+168.1%	$1.6B-27.8%	$1.3B-58.3%	$1.0B-41.3%	$1.5B-43.5%
Depreciation & Amortization	$754.0M+2.2%	$773.0M+1.0%	$756.0M-3.6%	$738.0M-7.8%	$765.0M-6.9%	$784.0M-5.7%	$800.0M-1.1%	$841.0M-1.5%
Stock-Based Compensation	N/A	N/A	N/A	$190.0M-9.5%	N/A	N/A	$210.0M-6.7%	N/A
Capital Expenditures	$1.2B+118.1%	$721.0M+12.8%	$669.0M-1.9%	$568.0M-4.7%	$639.0M-9.2%	$682.0M+9.3%	$596.0M-15.0%	$727.0M-4.2%
Free Cash Flow	$986.0M-55.7%	$4.0B+332.5%	$503.0M-23.6%	$2.2B+398.4%	$914.0M-36.9%	$658.0M-74.6%	$447.0M-58.5%	$806.0M-58.8%
Investing Cash Flow	-$1.3B-1419.3%	-$695.0M-32.6%	-$617.0M-10.8%	-$88.0M+80.7%	-$524.0M+36.5%	-$557.0M+7.9%	-$456.0M+33.3%	-$669.0M+16.0%
Financing Cash Flow	-$882.0M-171.3%	-$2.1B-564.4%	$857.0M+142.2%	$1.2B+159.6%	-$315.0M+78.2%	-$2.0B-11.2%	-$2.1B-3.7%	-$1.8B-220.2%
Dividends Paid	$405.0M+2.3%	$346.0M+10.9%	$351.0M+11.1%	$396.0M+17.9%	$312.0M+17.3%	$316.0M+17.5%	$336.0M+21.7%	$261.0M+10.6%
Share Buybacks	$3.8B+91.7%	$1.8B+330.5%	$1.2B+72.0%	$2.0B+182.9%	$429.0M-38.9%	$725.0M+178.8%	$700.0M+191.7%	$878.0M+432.1%

DELL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DELL quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Gross Margin	20.0%-2.2pp	22.2%-1.6pp	23.8%+1.7pp	22.2%+0.6pp	21.6%-1.6pp	23.2%-1.1pp	24.3%-3.3pp	27.7%+1.7pp	26.0%+4.0pp	22.0%+5.5pp	16.5%0.0pp	16.4%
Operating Margin	7.2%+0.7pp	6.5%+0.4pp	6.1%+0.5pp	5.6%+1.0pp	4.6%+0.3pp	4.3%+1.5pp	2.8%+3.0pp	-0.2%+2.8pp	-3.1%+0.8pp	-3.8%-2.8pp	-1.0%-0.4pp	-0.6%
Net Margin	5.2%+0.4pp	4.8%+1.0pp	3.8%+1.4pp	2.4%-3.3pp	5.6%+1.9pp	3.8%-1.7pp	5.4%+8.0pp	-2.5%+1.0pp	-3.6%-1.7pp	-1.9%+0.3pp	-2.2%+0.1pp	-2.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	131.1%	N/A	N/A	-24.3%-16.4pp	-7.9%+67.4pp	-75.3%-33.3pp	-42.0%
Return on Assets	5.9%+0.1pp	5.7%+1.6pp	4.1%+1.4pp	2.7%-3.5pp	6.2%+3.5pp	2.6%-1.3pp	3.9%+5.9pp	-2.1%+0.2pp	-2.3%-1.3pp	-1.0%+1.5pp	-2.5%	N/A
Current Ratio	0.91+0.1x	0.780.0x	0.74-0.1x	0.820.0x	0.800.0x	0.80+0.1x	0.70-0.1x	0.80-0.1x	0.880.0x	0.84-0.1x	0.93	N/A
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	13.26	N/A	N/A	3.75+0.8x	2.92-4.3x	7.26	N/A
Asset Turnover	1.12-0.1x	1.20+0.1x	1.08-0.1x	1.14+0.1x	1.09+0.4x	0.700.0x	0.71-0.1x	0.81+0.2x	0.64+0.1x	0.52-0.6x	1.13	N/A
FCF Margin	7.5%+5.6pp	2.0%-4.7pp	6.7%+6.1pp	0.5%-6.9pp	7.4%-3.3pp	10.8%+2.8pp	7.9%+1.9pp	6.1%-1.1pp	7.1%+4.4pp	2.7%-0.6pp	3.3%-0.5pp	3.8%

Metric	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-K
Gross Margin	20.9%-0.2pp	20.2%-1.8pp	20.7%-0.7pp	21.1%-0.7pp	22.0%-1.4pp	21.4%-2.2pp	21.8%-2.5pp	24.1%+2.7pp
Operating Margin	11.5%+6.5pp	9.3%+2.2pp	7.8%+2.3pp	5.0%+0.6pp	7.1%+0.1pp	5.6%+0.3pp	4.3%-1.1pp	6.9%+1.6pp
Net Margin	8.8%+4.7pp	6.8%+1.9pp	5.7%+2.2pp	4.1%-0.3pp	4.8%+0.1pp	3.5%+1.4pp	4.5%+1.4pp	5.4%+2.0pp
Return on Assets	3.2%+2.1pp	2.2%+0.8pp	1.8%+0.7pp	1.1%-0.1pp	1.4%+0.2pp	1.1%+0.5pp	1.2%+0.5pp	1.5%+0.3pp
Current Ratio	0.96+0.1x	0.91+0.1x	0.85+0.1x	0.85+0.1x	0.770.0x	0.720.0x	0.73-0.1x	0.74-0.1x
Asset Turnover	0.37+0.1x	0.330.0x	0.310.0x	0.270.0x	0.300.0x	0.300.0x	0.280.0x	0.27-0.1x
FCF Margin	2.1%-7.4pp	11.8%+8.1pp	1.9%-0.8pp	9.5%+7.5pp	3.8%-2.8pp	2.6%-8.7pp	2.0%-3.1pp	3.6%-2.9pp

Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$2.5B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.91), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Dell Technologies Inc. DELL	FY2026	$113.5B	$5.9B	5.2%	$372.6B	56/100
Arista Networks ANET	FY2025	$9.0B	$4K	0.0%	$266.1B	85/100
Seagate Technology Holdings plc STX	FY2026	$12.2B	$3.2B	26.1%	$176.2B	75/100
Western Digital Corp. WDC	FY2026	$12.9B	$9.4B	73.0%	$147.2B	75/100
Everpure, Inc. PSTG	FY2026	$3.7B	$188.2M	5.1%	$22.4B	50/100
HP Inc. HPQ	FY2025	$55.3B	$2.5B	4.6%	$29.3B	48/100

Where Dell Technologies Inc. Ranks

Frequently Asked Questions

What is Dell Technologies Inc.'s annual revenue?

Dell Technologies Inc. (DELL) reported $113.5B in total revenue for fiscal year 2026. This represents a 18.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Dell Technologies Inc.'s revenue growing?

Dell Technologies Inc. (DELL) revenue grew by 18.8% year-over-year, from $95.6B to $113.5B in fiscal year 2026.

Is Dell Technologies Inc. profitable?

Yes, Dell Technologies Inc. (DELL) reported a net income of $5.9B in fiscal year 2026, with a net profit margin of 5.2%.

What is Dell Technologies Inc.'s EBITDA?

Dell Technologies Inc. (DELL) had EBITDA of $11.2B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Dell Technologies Inc. have?

As of fiscal year 2026, Dell Technologies Inc. (DELL) had $11.5B in cash and equivalents against $23.5B in long-term debt.

What is Dell Technologies Inc.'s gross margin?

Dell Technologies Inc. (DELL) had a gross margin of 20.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Dell Technologies Inc.'s operating margin?

Dell Technologies Inc. (DELL) had an operating margin of 7.2% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Dell Technologies Inc.'s net profit margin?

Dell Technologies Inc. (DELL) had a net profit margin of 5.2% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Does Dell Technologies Inc. pay dividends?

Yes, Dell Technologies Inc. (DELL) paid $2.10 per share in dividends during fiscal year 2026.

What is Dell Technologies Inc.'s free cash flow?

Dell Technologies Inc. (DELL) generated $8.6B in free cash flow during fiscal year 2026. This represents a 357.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Dell Technologies Inc.'s operating cash flow?

Dell Technologies Inc. (DELL) generated $11.2B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Dell Technologies Inc.'s total assets?

Dell Technologies Inc. (DELL) had $101.3B in total assets as of fiscal year 2026, including both current and long-term assets.

What are Dell Technologies Inc.'s capital expenditures?

Dell Technologies Inc. (DELL) invested $2.6B in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Dell Technologies Inc. spend on research and development?

Dell Technologies Inc. (DELL) invested $3.1B in research and development during fiscal year 2026.

Does Dell Technologies Inc. buy back shares?

Yes, Dell Technologies Inc. (DELL) spent $6.0B on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Dell Technologies Inc. have outstanding?

Dell Technologies Inc. (DELL) had 652M shares outstanding as of fiscal year 2026.

What is Dell Technologies Inc.'s current ratio?

Dell Technologies Inc. (DELL) had a current ratio of 0.91 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.

What is Dell Technologies Inc.'s return on assets (ROA)?

Dell Technologies Inc. (DELL) had a return on assets of 5.9% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Dell Technologies Inc.'s P/E ratio?

Dell Technologies Inc. (DELL) trades at 62.8x earnings, its market capitalization divided by net income of $5.9B net income, FY2026. The market capitalization is $372.6B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Dell Technologies Inc.'s price-to-sales ratio?

Dell Technologies Inc. (DELL) trades at 3.3x sales, its market capitalization divided by revenue of $113.5B revenue, FY2026. The market capitalization is $372.6B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is Dell Technologies Inc.'s debt-to-equity ratio negative or not reported?

Dell Technologies Inc. (DELL) has negative shareholder equity of -$2.5B as of fiscal year 2026, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Dell Technologies Inc.'s Altman Z-Score?

Dell Technologies Inc. (DELL) has an Altman Z-Score of 3.52, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Dell Technologies Inc.'s Piotroski F-Score?

Dell Technologies Inc. (DELL) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Dell Technologies Inc.'s earnings high quality?

Dell Technologies Inc. (DELL) has an earnings quality ratio of 1.88x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Dell Technologies Inc. cover its interest payments?

Dell Technologies Inc. (DELL) has an interest coverage ratio of 5.22x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Dell Technologies Inc.?

Dell Technologies Inc. (DELL) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.