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Dell Technologies (DELL) Financials

$113.79 -0.20 (-0.18%)

Closing price 05/28/2025 03:59 PM Eastern

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$115.95 +2.16 (+1.90%)

As of 05/28/2025 08:00 PM Eastern

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Annual Income Statements for Dell Technologies

This table shows Dell Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	1/31/2025	2/2/2024	2/3/2023	1/28/2022	1/29/2021	1/31/2020	2/1/2019	2/2/2018	2/3/2017	1/29/2016	1/30/2015
Net Income / (Loss) Attributable to Common Shareholders	4,592	3,388	2,442	5,563	3,250	4,616	-27,363	-2,849	-1,167	-1,104	-1,221
Consolidated Net Income / (Loss)	4,576	3,372	2,422	5,707	3,505	5,529	-27,234	-2,926	-1,158	-1,104	-1,221
Net Income / (Loss) Continuing Operations	4,576	3,372	2,422	4,942	2,245	521	-27,234	-2,926	-3,074	-1,168	-1,108
Total Pre-Tax Income	5,048	4,087	3,225	5,923	2,346	-51	-27,414	-4,769	-4,494	-1,286	-1,215
Total Operating Income	6,237	5,411	5,771	4,659	3,685	2,366	-25,244	-2,416	-2,390	-514	-316
Total Gross Profit	21,250	21,069	22,686	21,891	20,140	20,639	0.00	20,537	13,649	8,387	8,896
Total Revenue	95,567	88,425	102,301	101,197	86,670	169,630	0.00	79,040	62,164	50,911	54,142
Operating Revenue	95,567	88,425	102,301	101,197	86,670	169,630	-	79,040	62,164	50,911	54,142
Total Cost of Revenue	74,317	67,356	79,615	79,306	66,530	8,807	0.00	58,503	48,515	42,524	45,246
Operating Cost of Revenue	74,317	67,356	79,615	79,306	66,530	119,545	-	58,503	48,515	42,524	45,246
Total Operating Expenses	15,013	15,658	16,915	17,232	16,455	36,546	25,244	22,953	16,039	8,901	9,212
Selling, General & Admin Expense	11,952	12,857	14,136	14,655	14,000	15,819	20,640	18,569	13,403	7,850	8,292
Research & Development Expense	3,061	2,801	2,779	2,577	2,455	2,454	4,604	4,384	2,636	1,051	920
Total Other Income / (Expense), net	-1,189	-1,324	-2,546	1,264	-1,339	-2,417	-2,170	-2,353	-2,104	-772	-899
Other Income / (Expense), net	-1,189	-1,324	-2,546	1,264	-1,339	-2,417	-2,170	-2,353	-2,104	-772	-899
Income Tax Expense	472	715	803	981	101	-572	-180	-1,843	-1,420	-118	-107
Net Income / (Loss) Attributable to Noncontrolling Interest	-16	-16	-20	144	255	913	129	-77	9.00	0.00	0.00
Basic Earnings per Share	$6.51	$4.71	$3.33	-	-	-	($0.01)	($3.98)	($5.83)	-	-
Weighted Average Basic Shares Outstanding	697.84M	713.79M	731.20M	760.40M	762.67M	739.47M	718.53M	768.94M	776.36M	-	-
Diluted Earnings per Share	$6.38	$4.60	$3.24	-	-	-	($0.13)	($4.01)	($5.84)	-	-
Weighted Average Diluted Shares Outstanding	697.84M	713.79M	731.20M	760.40M	762.67M	739.47M	718.53M	768.94M	776.36M	-	-
Weighted Average Basic & Diluted Shares Outstanding	697.84M	713.79M	731.20M	760.40M	762.67M	739.47M	718.53M	768.94M	776.36M	-	-
Cash Dividends to Common per Share	$1.78	$1.48	$1.32	-	-	-	-	-	-	-	-

This table shows Dell Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	11/1/2024	8/2/2024	5/3/2024	2/2/2024	11/3/2023	8/4/2023	5/5/2023	2/3/2023	10/28/2022	7/29/2022
Net Income / (Loss) Attributable to Common Shareholders	1,654	1,132	846	960	1,337	1,006	462	583	614	245	511
Consolidated Net Income / (Loss)	1,653	1,127	841	955	1,335	1,004	455	578	606	241	506
Net Income / (Loss) Continuing Operations	1,653	1,127	841	955	1,335	1,004	455	578	606	241	506
Total Pre-Tax Income	2,120	1,392	989	547	1,488	1,180	714	705	923	454	635
Total Operating Income	2,307	1,668	1,342	920	1,691	1,486	1,165	1,069	1,189	1,762	1,270
Total Gross Profit	5,826	5,307	5,311	4,806	5,516	5,148	5,387	5,018	5,756	5,707	5,439
Total Revenue	23,931	24,366	25,026	22,244	22,318	22,251	22,934	20,922	25,039	24,721	26,425
Operating Revenue	23,931	24,366	25,026	22,244	22,318	22,251	22,934	20,922	25,039	24,721	26,425
Total Cost of Revenue	18,105	19,059	19,715	17,438	16,802	17,103	17,547	15,904	19,283	19,014	20,986
Operating Cost of Revenue	18,105	19,059	19,715	17,438	16,802	17,103	17,547	15,904	19,283	19,014	20,986
Total Operating Expenses	3,519	3,639	3,969	3,886	3,825	3,662	4,222	3,949	4,567	3,945	4,169
Selling, General & Admin Expense	2,746	2,894	3,189	3,123	3,109	2,970	3,517	3,261	3,772	3,268	3,543
Research & Development Expense	773	745	780	763	716	692	705	688	795	677	626
Total Other Income / (Expense), net	-187	-276	-353	-373	-203	-306	-451	-364	-266	-1,308	-635
Other Income / (Expense), net	-187	-276	-353	-373	-203	-306	-451	-364	-266	-1,308	-635
Income Tax Expense	467	265	148	-408	153	176	259	127	317	213	129
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.00	-5.00	-5.00	-5.00	-2.00	-2.00	-7.00	-5.00	-8.00	-4.00	-5.00
Basic Earnings per Share	$2.35	$1.61	$1.19	$1.36	$1.87	$1.39	$0.64	$0.81	$0.84	$0.34	$0.69
Weighted Average Basic Shares Outstanding	697.84M	700.46M	702.38M	709.30M	713.79M	711.60M	723.43M	727.24M	731.20M	716.13M	732.96M
Diluted Earnings per Share	$2.31	$1.58	$1.17	$1.32	$1.82	$1.36	$0.63	$0.79	$0.84	$0.33	$0.68
Weighted Average Diluted Shares Outstanding	697.84M	700.46M	702.38M	709.30M	713.79M	711.60M	723.43M	727.24M	731.20M	716.13M	732.96M
Weighted Average Basic & Diluted Shares Outstanding	697.84M	700.46M	702.38M	709.30M	713.79M	711.60M	723.43M	727.24M	731.20M	716.13M	732.96M

This table details how cash moves in and out of Dell Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	1/31/2025	2/2/2024	2/3/2023	1/28/2022	1/29/2021	1/31/2020	2/1/2019	2/2/2018	2/3/2017	1/29/2016	1/30/2015
Net Change in Cash & Equivalents	-3,688	-1,387	-1,188	-5,102	5,033	-89	-3,949	4,546	2,940	1,178	-1,051
Net Cash From Operating Activities	4,521	8,676	3,565	10,307	11,407	9,291	6,991	6,843	2,367	2,162	2,551
Net Cash From Continuing Operating Activities	4,521	8,676	3,565	10,307	11,407	9,291	6,991	6,843	2,367	2,162	2,551
Net Income / (Loss) Continuing Operations	4,576	3,372	2,422	5,707	3,505	5,529	-2,181	-2,926	-1,158	-1,104	-1,221
Consolidated Net Income / (Loss)	4,576	3,372	2,422	5,707	3,505	5,529	-2,181	-2,926	-1,158	-1,104	-1,221
Depreciation Expense	3,123	3,303	3,156	4,551	5,390	6,143	7,746	8,634	4,938	2,872	2,977
Non-Cash Adjustments To Reconcile Net Income	1,238	1,487	1,892	-1,508	1,521	2,200	1,674	1,589	-1,474	421	478
Changes in Operating Assets and Liabilities, net	-4,416	514	-3,905	1,557	991	-4,581	-248	-454	-207	-86	264
Net Cash From Investing Activities	-2,215	-2,783	-3,024	1,306	-460	-4,686	3,389	-2,875	-31,236	-321	-355
Net Cash From Continuing Investing Activities	-2,215	-2,783	-3,024	1,306	-460	-4,686	3,389	-2,875	-31,236	-321	-355
Purchase of Property, Plant & Equipment	-2,652	-2,756	-3,003	-2,796	-2,082	-2,576	-1,497	-1,367	-699	-482	-478
Acquisitions	0.00	-126	-70	-16	-424	-2,466	-971	-658	-37,609	0.00	-73
Purchase of Investments	-125	-172	-108	-414	-338	-181	-925	-4,389	-778	-27	-27
Sale and/or Maturity of Investments	382	226	116	513	169	497	6,612	3,878	1,173	7.00	15
Other Investing Activities, net	180	45	41	62	28	40	-	-339	-220	85	175
Net Cash From Financing Activities	-5,815	-7,094	-1,625	-16,609	-5,950	-4,604	-14,329	403	31,785	-496	-3,094
Net Cash From Continuing Financing Activities	-5,815	-7,094	-1,625	-16,609	-5,950	-4,604	-14,329	403	31,785	-496	-3,094
Repayment of Debt	-10,634	-11,355	-9,864	-28,238	-21,189	-22,188	-11,555	-12,312	-17,813	-5,960	-6,060
Repurchase of Common Equity	-2,588	-2,080	-2,883	-1,496	-241	-8.00	-14,075	-723	-1,322	0.00	0.00
Payment of Dividends	-1,275	-1,072	-964	-2,240	-1,363	-3,547	-2,549	-724	0.00	0.00	0.00
Issuance of Debt	9,258	7,775	12,479	20,425	16,391	20,481	13,045	14,415	46,873	5,466	2,938
Issuance of Common Equity	1.00	10	5.00	334	452	658	805	132	4,586	0.00	28
Other Financing Activities, net	-577	-372	-398	-5,394	0.00	0.00	-	-385	-539	-2.00	0.00
Effect of Exchange Rate Changes	-179	-186	-104	-106	36	-90	-	175	24	-167	-153
Cash Interest Paid	1,304	1,438	1,169	1,825	2,279	2,500	2,347	2,192	1,575	585	724
Cash Income Taxes Paid	555	1,379	1,208	1,257	1,421	1,414	747	924	978	264	557

This table details how cash moves in and out of Dell Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	11/1/2024	8/2/2024	5/3/2024	2/2/2024	11/3/2023	8/4/2023	5/5/2023	2/3/2023	10/28/2022	7/29/2022
Net Change in Cash & Equivalents	-1,585	733	-1,291	-1,545	-941	-202	723	-967	3,670	-869	-1,183
Net Cash From Operating Activities	585	1,553	1,340	1,043	1,533	2,152	3,214	1,777	2,714	396	724
Net Cash From Continuing Operating Activities	585	1,553	1,340	1,043	1,533	2,152	3,214	1,777	2,714	396	724
Net Income / (Loss) Continuing Operations	1,653	1,127	841	955	1,335	1,004	455	578	606	241	506
Consolidated Net Income / (Loss)	1,653	1,127	841	955	1,335	1,004	455	578	606	241	506
Depreciation Expense	774	765	784	800	841	822	831	809	854	832	744
Non-Cash Adjustments To Reconcile Net Income	18	362	424	434	291	268	395	533	541	434	776
Changes in Operating Assets and Liabilities, net	-1,860	-701	-709	-1,146	-934	58	1,533	-143	713	-1,111	-1,302
Net Cash From Investing Activities	-678	-524	-557	-456	-669	-825	-605	-684	-796	-730	-778
Net Cash From Continuing Investing Activities	-678	-524	-557	-456	-669	-825	-605	-684	-796	-730	-778
Purchase of Property, Plant & Equipment	-735	-639	-682	-596	-727	-704	-624	-701	-759	-747	-807
Purchase of Investments	-42	-19	-25	-39	-29	-30	-98	-15	-7.00	-21	-28
Sale and/or Maturity of Investments	45	121	97	119	76	23	108	19	17	31	50
Other Investing Activities, net	54	13	53	60	10	13	9.00	13	23	7.00	7.00
Net Cash From Financing Activities	-1,391	-315	-2,032	-2,077	-1,819	-1,446	-1,827	-2,002	1,513	-386	-1,046
Net Cash From Continuing Financing Activities	-1,391	-315	-2,032	-2,077	-1,819	-1,446	-1,827	-2,002	1,513	-386	-1,046
Repayment of Debt	-974	-3,229	-2,919	-3,512	-1,535	-2,689	-3,428	-3,703	-1,768	-1,840	-3,546
Repurchase of Common Equity	-734	-429	-725	-700	-878	-702	-260	-240	-165	-600	-682
Payment of Dividends	-311	-312	-316	-336	-261	-266	-269	-276	-236	-238	-242
Issuance of Debt	645	3,680	1,941	2,992	871	2,249	2,134	2,521	3,700	2,314	3,431
Other Financing Activities, net	-17	-25	-14	-521	-18	-42	-6.00	-306	-18	-22	-8.00
Effect of Exchange Rate Changes	-101	19	-42	-55	14	-83	-59	-58	239	-149	-83

This table presents Dell Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	1/31/2025	2/2/2024	2/3/2023	1/28/2022	1/29/2021	1/31/2020	2/1/2019	2/2/2018	2/3/2017	1/29/2016
Total Assets	79,746	82,126	89,611	92,735	123,415	118,861	111,820	124,193	118,206	45,122
Total Current Assets	36,229	35,984	42,351	45,033	43,567	36,868	36,138	40,328	30,773	23,573
Cash & Equivalents	3,633	7,366	8,607	9,477	9,508	9,302	9,676	13,942	9,474	6,322
Note & Lease Receivable	5,304	4,643	5,281	5,089	5,148	4,895	4,398	3,919	3,222	2,915
Accounts Receivable	10,298	9,343	12,860	13,043	10,846	12,484	12,371	11,721	9,420	4,887
Inventories, net	6,716	3,622	4,776	5,898	3,403	3,281	3,649	2,678	2,538	1,619
Other Current Assets	9,610	11,010	10,827	11,526	9,810	6,906	6,044	5,881	4,144	3,497
Other Current Nonoperating Assets	668	0.00	-	-	4,852	-	-	-	-	4,333
Plant, Property, & Equipment, net	6,336	6,432	6,209	5,415	4,833	6,055	5,259	5,390	5,653	1,649
Total Noncurrent Assets	37,181	39,710	41,051	42,287	75,015	75,938	70,423	78,475	81,780	19,900
Long-Term Investments	1,496	1,316	1,518	1,839	1,334	864	1,005	4,163	3,802	114
Noncurrent Note & Lease Receivables	5,927	5,877	6,078	6,232	5,790	4,848	4,224	3,724	2,651	2,177
Goodwill	19,120	19,700	19,676	19,770	20,028	41,691	40,089	39,920	38,910	8,406
Intangible Assets	4,988	5,701	6,468	7,461	9,115	18,107	22,270	28,265	35,053	8,577
Other Noncurrent Operating Assets	5,650	7,116	7,311	6,985	6,733	10,428	2,835	2,403	1,364	626
Total Liabilities & Shareholders' Equity	79,746	82,126	89,611	92,735	123,415	118,861	111,820	124,193	118,206	45,122
Total Liabilities	81,133	84,258	92,636	94,315	115,390	115,077	111,566	106,324	98,966	43,550
Total Current Liabilities	46,527	48,354	51,654	56,219	54,132	52,456	44,972	45,839	38,135	25,310
Short-Term Debt	5,204	6,982	6,573	5,823	6,357	7,737	4,320	7,873	6,329	2,981
Accounts Payable	20,832	19,226	20,665	28,557	23,033	20,065	19,213	18,334	14,422	12,881
Accrued Expenses	6,597	6,828	8,874	7,578	7,166	9,773	8,495	8,026	7,119	4,217
Current Deferred Revenue	13,673	15,318	15,542	14,261	13,201	14,881	12,944	11,606	10,265	3,632
Other Current Nonoperating Liabilities	221	0.00	-	-	4,375	-	-	-	-	1,599
Total Noncurrent Liabilities	34,606	35,904	40,982	38,096	61,258	62,621	66,594	60,485	60,831	18,240
Long-Term Debt	19,363	19,012	23,015	21,131	32,865	44,319	49,201	43,998	43,061	10,650
Noncurrent Deferred Revenue	12,292	13,827	14,744	13,312	12,391	12,919	11,066	9,210	8,431	4,089
Other Noncurrent Operating Liabilities	2,951	3,065	3,223	3,653	3,923	5,383	6,327	7,277	9,339	3,501
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-1,387	-2,132	-3,025	-1,580	7,553	3,155	-942	17,485	19,009	1,466
Total Preferred & Common Equity	-1,482	-2,227	-3,122	-1,685	2,479	-1,574	-5,765	11,719	13,243	1,466
Total Common Equity	-1,482	-2,227	-3,122	-1,685	2,479	-1,574	-5,765	11,719	13,243	1,466
Common Stock	9,119	8,926	8,424	7,898	16,849	16,091	16,114	19,889	20,199	5,727
Retained Earnings	-1,160	-4,453	-6,732	-8,188	-13,751	-16,891	-21,349	-6,860	-5,609	-3,937
Treasury Stock	-8,502	-5,900	-3,813	-964	-305	-65	-63	-1,440	-752	0.00
Accumulated Other Comprehensive Income / (Loss)	-939	-800	-1,001	-431	-314	-709	-467	130	-595	-324
Noncontrolling Interest	95	95	97	105	5,074	4,729	4,823	5,766	5,766	0.00

This table presents Dell Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	11/1/2024	8/2/2024	5/3/2024	11/3/2023	8/4/2023	5/5/2023	10/28/2022	7/29/2022	4/29/2022	10/29/2021
Total Assets	81,951	82,687	80,190	83,264	85,658	84,094	85,172	88,775	88,406	135,677
Total Current Assets	38,035	37,543	34,627	36,987	38,999	37,392	38,787	42,262	41,376	57,179
Cash & Equivalents	5,225	4,550	5,830	8,298	8,364	7,631	4,909	5,507	6,654	22,406
Note & Lease Receivable	5,001	4,968	4,660	4,540	4,807	5,013	4,915	4,860	4,796	4,970
Accounts Receivable	11,189	11,391	8,563	10,106	10,755	9,783	11,634	13,626	11,968	14,177
Inventories, net	6,652	5,953	4,782	3,381	3,584	4,016	6,172	5,883	6,277	5,442
Other Current Assets	9,306	10,681	10,792	10,662	11,047	10,949	11,157	12,386	11,681	10,184
Other Current Nonoperating Assets	662	-	-	-	442	-	-	-	-	-
Plant, Property, & Equipment, net	6,327	6,300	6,237	6,222	6,252	6,261	5,847	5,772	5,516	6,925
Total Noncurrent Assets	37,589	38,844	39,326	40,055	40,407	40,441	40,538	40,741	41,514	71,573
Long-Term Investments	1,312	1,302	1,293	1,294	1,331	1,399	1,534	1,520	1,868	1,827
Noncurrent Note & Lease Receivables	5,849	6,124	5,941	6,012	6,049	5,966	6,271	6,059	6,111	5,270
Goodwill	19,243	19,654	19,640	19,616	19,640	19,661	19,366	19,505	19,598	40,701
Intangible Assets	5,147	5,374	5,538	5,907	6,060	6,269	6,728	6,972	7,217	12,319
Other Noncurrent Operating Assets	6,038	6,390	6,914	7,226	7,327	7,146	6,639	6,685	6,720	11,456
Total Liabilities & Shareholders' Equity	81,951	82,687	80,190	83,264	85,658	84,094	85,172	88,775	88,406	135,677
Total Liabilities	84,141	85,484	82,913	85,834	88,335	87,018	88,540	91,530	90,761	121,483
Total Current Liabilities	49,500	52,033	47,734	48,877	50,942	46,825	52,007	54,789	53,059	69,702
Short-Term Debt	5,612	6,711	6,098	6,498	6,961	5,470	6,767	6,647	5,925	16,280
Accounts Payable	23,400	24,095	20,586	20,724	21,221	18,390	23,219	26,608	26,207	26,772
Accrued Expenses	6,490	6,374	6,016	6,449	6,586	7,438	7,915	6,810	6,598	10,081
Current Deferred Revenue	13,787	14,853	15,034	15,206	16,174	15,527	14,106	14,724	14,329	16,569
Other Current Nonoperating Liabilities	211	-	-	-	-	-	-	-	-	-
Total Noncurrent Liabilities	34,641	33,451	35,179	36,957	37,393	40,193	36,533	36,741	37,702	51,781
Long-Term Debt	19,410	17,811	19,382	20,119	20,177	22,962	20,562	20,287	21,197	31,699
Noncurrent Deferred Revenue	12,424	12,859	13,116	13,847	14,138	14,168	12,983	13,301	13,074	14,885
Other Noncurrent Operating Liabilities	2,807	2,781	2,681	2,991	3,078	3,063	2,988	3,153	3,431	5,197
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-2,190	-2,797	-2,723	-2,570	-2,677	-2,924	-3,368	-2,755	-2,355	14,194
Total Preferred & Common Equity	-2,285	-2,894	-2,822	-2,664	-2,772	-3,023	-3,469	-2,860	-2,462	8,954
Total Common Equity	-2,285	-2,894	-2,822	-2,664	-2,772	-3,023	-3,469	-2,860	-2,462	8,954
Common Stock	8,951	8,782	8,606	8,742	8,554	8,339	8,216	8,005	7,777	17,843
Retained Earnings	-2,669	-3,478	-4,001	-5,519	-6,249	-6,430	-7,102	-7,106	-7,369	-8,190
Treasury Stock	-7,747	-7,334	-6,622	-5,064	-4,320	-4,064	-3,663	-3,054	-2,446	-305
Accumulated Other Comprehensive Income / (Loss)	-820	-864	-805	-823	-757	-868	-920	-705	-424	-394
Noncontrolling Interest	95	97	99	94	95	99	101	105	107	5,240

This table displays calculated financial ratios and metrics derived from Dell Technologies' official financial filings.

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	1/31/2025	2/2/2024	2/3/2023	1/28/2022	1/29/2021	1/31/2020	2/1/2019	2/2/2018	2/3/2017	1/29/2016	1/30/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.08%	-13.56%	1.09%	16.76%	-48.91%	0.00%	-100.00%	27.15%	22.10%	-5.97%	0.00%
EBITDA Growth	10.57%	15.81%	-39.08%	35.39%	26.99%	130.97%	-608.87%	442.84%	-56.72%	-9.37%	0.00%
EBIT Growth	23.51%	26.73%	-45.55%	152.47%	4,700.00%	99.81%	-474.84%	-6.12%	-249.46%	-5.84%	0.00%
NOPAT Growth	26.64%	3.01%	11.49%	10.24%	112.92%	109.37%	-944.87%	-1.09%	-364.98%	-62.66%	0.00%
Net Income Growth	35.71%	39.22%	-57.56%	62.82%	-36.61%	120.30%	-830.76%	-152.68%	-4.89%	9.58%	0.00%
EPS Growth	38.70%	41.98%	0.00%	0.00%	0.00%	0.00%	96.76%	31.34%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-47.89%	143.37%	-65.41%	-9.64%	22.77%	32.90%	2.16%	189.10%	9.48%	-15.25%	0.00%
Free Cash Flow Firm Growth	-43.56%	192.84%	-66.43%	-82.47%	3,694.76%	91.84%	-605.26%	104.57%	-666.78%	0.00%	0.00%
Invested Capital Growth	15.97%	-7.65%	16.93%	-12.09%	-64.99%	5.99%	-12.85%	-7.36%	784.78%	0.00%	0.00%
Revenue Q/Q Growth	1.72%	-2.99%	23.76%	-12.08%	-54.79%	888.90%	-100.00%	1.76%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	10.33%	8.07%	18.47%	130.17%	-82.74%	161.18%	-475.34%	24.48%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	19.73%	16.04%	43.08%	114.88%	-94.02%	99.69%	-911.96%	16.25%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	7.75%	21.19%	-11.70%	113.12%	-90.19%	117.02%	-4,171.40%	23.37%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	12.13%	27.58%	33.30%	114.62%	-91.18%	148.89%	-1,243.56%	-16.90%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	22.67%	26.56%	0.00%	0.00%	0.00%	95.04%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-17.33%	-11.98%	-9.61%	-21.27%	26.21%	14.01%	-9.49%	50.66%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-16.29%	-15.18%	-92.29%	124.06%	-17.75%	92.79%	-375.53%	-55.45%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	11.11%	5.02%	-6.17%	-62.95%	-63.12%	-4.47%	-3.66%	0.40%	-5.50%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.24%	23.83%	22.18%	21.63%	23.24%	12.17%	0.00%	25.98%	21.96%	16.47%	16.43%
EBITDA Margin	8.55%	8.36%	6.24%	10.35%	8.93%	3.59%	0.00%	4.89%	1.15%	3.23%	3.35%
Operating Margin	6.53%	6.12%	5.64%	4.60%	4.25%	1.39%	0.00%	-3.06%	-3.84%	-1.01%	-0.58%
EBIT Margin	5.28%	4.62%	3.15%	5.85%	2.71%	-0.03%	0.00%	-6.03%	-7.23%	-2.53%	-2.24%
Profit (Net Income) Margin	4.79%	3.81%	2.37%	5.64%	4.04%	3.26%	0.00%	-3.70%	-1.86%	-2.17%	-2.26%
Tax Burden Percent	90.65%	82.51%	75.10%	96.35%	149.40%	-10,841.18%	99.34%	61.35%	25.77%	85.85%	100.49%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	9.35%	17.49%	24.90%	16.56%	4.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	34.49%	28.24%	28.42%	25.87%	11.44%	3.73%	0.00%	-3.29%	-5.63%	-11.93%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	28.55%	22.30%	17.53%	41.29%	11.35%	12.87%	0.00%	-7.05%	-2.96%	-45.29%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-294.57%	-159.01%	-133.61%	151.23%	47.92%	270.12%	0.00%	-12.48%	-5.50%	-128.53%	0.00%
Return on Equity (ROE)	-260.07%	-130.77%	-105.19%	177.10%	59.36%	273.85%	-300.55%	-15.77%	-11.13%	-140.46%	0.00%
Cash Return on Invested Capital (CROIC)	19.70%	36.20%	12.82%	38.74%	107.70%	-2.08%	-24.46%	4.36%	-165.01%	-211.93%	0.00%
Operating Return on Assets (OROA)	6.24%	4.76%	3.54%	5.48%	1.94%	-0.04%	0.00%	-3.93%	-5.50%	-2.85%	0.00%
Return on Assets (ROA)	5.65%	3.93%	2.66%	5.28%	2.89%	4.79%	0.00%	-2.41%	-1.42%	-2.45%	0.00%
Return on Common Equity (ROCE)	-274.12%	-135.64%	-109.80%	21.82%	4.55%	-497.72%	-98.74%	-10.61%	-7.86%	-130.99%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-308.77%	-151.41%	-77.58%	-338.69%	141.39%	-351.27%	472.40%	-24.97%	-8.74%	-75.31%	0.00%
Net Operating Profit after Tax (NOPAT)	5,654	4,464	4,334	3,887	3,526	1,656	-17,671	-1,691	-1,673	-360	-221
NOPAT Margin	5.92%	5.05%	4.24%	3.84%	4.07%	0.98%	0.00%	-2.14%	-2.69%	-0.71%	-0.41%
Net Nonoperating Expense Percent (NNEP)	5.94%	5.94%	10.89%	-15.42%	0.09%	-9.14%	25.70%	3.76%	-2.67%	33.36%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	24.39%	18.71%	16.32%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	77.76%	76.17%	77.82%	78.37%	76.76%	5.19%	0.00%	74.02%	78.04%	83.53%	83.57%
SG&A Expenses to Revenue	12.51%	14.54%	13.82%	14.48%	16.15%	9.33%	0.00%	23.49%	21.56%	15.42%	15.32%
R&D to Revenue	3.20%	3.17%	2.72%	2.55%	2.83%	1.45%	0.00%	5.55%	4.24%	2.06%	1.70%
Operating Expenses to Revenue	15.71%	17.71%	16.53%	17.03%	18.99%	21.54%	0.00%	29.04%	25.80%	17.48%	17.01%
Earnings before Interest and Taxes (EBIT)	5,048	4,087	3,225	5,923	2,346	-51	-27,414	-4,769	-4,494	-1,286	-1,215
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	8,171	7,390	6,381	10,474	7,736	6,092	-19,668	3,865	712	1,645	1,815
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	20.65	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.76	0.68	0.28	0.40	0.59	0.20	0.00	0.00	0.00	0.00	0.00
Price to Earnings (P/E)	15.80	17.86	11.90	7.23	15.75	7.22	0.00	0.00	0.00	0.00	0.00
Dividend Yield	1.72%	1.74%	3.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.33%	5.60%	8.41%	13.82%	6.35%	13.85%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.23	5.13	2.96	3.98	5.32	1.76	1.96	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.96	0.88	0.48	0.55	0.98	0.48	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	11.27	10.54	7.62	5.35	11.00	13.23	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	18.25	19.07	15.07	9.45	36.28	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	16.29	17.45	11.22	14.40	24.14	48.66	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	20.37	8.98	13.63	5.43	7.46	8.67	12.10	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	28.52	13.62	24.88	9.62	2.56	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-17.71	-12.19	-9.78	-17.06	4.89	13.76	210.71	2.90	2.57	8.67	0.00
Long-Term Debt to Equity	-13.96	-8.92	-7.61	-13.37	4.10	11.71	193.70	2.46	2.24	6.77	0.00
Financial Leverage	-10.32	-7.13	-7.62	3.66	4.22	20.98	4.11	1.77	1.85	2.84	0.00
Leverage Ratio	-46.00	-33.30	-39.60	33.54	20.52	57.13	13.02	6.53	7.85	28.70	0.00
Compound Leverage Factor	-46.00	-33.30	-39.60	33.54	20.52	57.13	13.02	6.53	7.85	28.70	0.00
Debt to Total Capital	105.98%	108.93%	111.39%	106.23%	83.01%	93.22%	99.53%	74.38%	71.97%	89.66%	0.00%
Short-Term Debt to Total Capital	22.45%	29.26%	24.74%	22.95%	13.45%	13.86%	8.03%	11.29%	9.22%	19.61%	0.00%
Long-Term Debt to Total Capital	83.53%	79.67%	86.64%	83.28%	69.56%	79.37%	91.49%	63.09%	62.74%	70.05%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.41%	0.40%	0.37%	0.41%	11.74%	9.60%	11.19%	8.82%	8.74%	0.70%	0.00%
Common Equity to Total Capital	-6.39%	-9.33%	-11.75%	-6.64%	5.25%	-2.82%	-10.72%	16.80%	19.30%	9.64%	0.00%
Debt to EBITDA	3.01	3.52	4.64	2.57	5.07	8.55	-2.72	13.42	69.37	8.29	0.00
Net Debt to EBITDA	2.38	2.34	3.05	1.49	3.67	6.88	-2.18	8.17	47.95	4.37	0.00
Long-Term Debt to EBITDA	2.37	2.57	3.61	2.02	4.25	7.28	-2.50	11.38	60.48	6.47	0.00
Debt to NOPAT	4.35	5.82	6.83	6.93	11.12	31.43	-3.03	-30.67	-29.52	-37.88	0.00
Net Debt to NOPAT	3.44	3.88	4.49	4.02	8.05	25.29	-2.42	-18.67	-20.41	-20.00	0.00
Long-Term Debt to NOPAT	3.42	4.26	5.31	5.44	9.32	26.76	-2.78	-26.02	-25.74	-29.60	0.00
Altman Z-Score	1.77	1.42	1.22	1.29	0.77	1.24	-0.98	0.00	0.00	0.00	0.00
Noncontrolling Interest Sharing Ratio	-5.40%	-3.72%	-4.39%	87.68%	92.34%	281.75%	67.15%	32.73%	29.32%	6.74%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.78	0.74	0.82	0.80	0.80	0.70	0.80	0.88	0.81	0.93	0.00
Quick Ratio	0.41	0.44	0.52	0.49	0.47	0.51	0.59	0.69	0.63	0.56	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,230	5,722	1,954	5,821	33,208	-924	-11,317	2,240	-49,019	-6,393	0.00
Operating Cash Flow to CapEx	170.48%	314.80%	118.71%	368.63%	547.89%	360.68%	467.00%	500.59%	350.67%	548.73%	560.66%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.18	1.03	1.12	0.94	0.72	1.47	0.00	0.65	0.76	1.13	0.00
Accounts Receivable Turnover	9.73	7.97	7.90	8.47	7.43	13.65	0.00	7.48	8.69	10.42	0.00
Inventory Turnover	14.38	16.04	14.92	17.05	19.91	2.54	0.00	22.43	23.34	26.27	0.00
Fixed Asset Turnover	14.97	13.99	17.60	19.75	15.92	29.99	0.00	14.32	17.03	30.87	0.00
Accounts Payable Turnover	3.71	3.38	3.23	3.07	3.09	0.45	0.00	3.57	3.55	3.30	0.00
Days Sales Outstanding (DSO)	37.51	45.82	46.21	43.08	49.13	26.74	0.00	48.81	42.00	35.04	0.00
Days Inventory Outstanding (DIO)	25.39	22.75	24.47	21.40	18.34	143.60	0.00	16.27	15.64	13.90	0.00
Days Payable Outstanding (DPO)	98.37	108.08	112.83	118.72	118.22	813.92	0.00	102.18	102.71	110.56	0.00
Cash Conversion Cycle (CCC)	-35.48	-39.51	-42.15	-54.23	-50.76	-643.58	0.00	-37.10	-45.07	-61.63	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,604	15,180	16,438	14,058	15,992	45,674	43,094	49,448	53,379	6,033	0.00
Invested Capital Turnover	5.83	5.59	6.71	6.74	2.81	3.82	0.00	1.54	2.09	16.88	0.00
Increase / (Decrease) in Invested Capital	2,424	-1,258	2,380	-1,934	-29,682	2,580	-6,354	-3,931	47,346	6,033	0.00
Enterprise Value (EV)	92,101	77,925	48,608	55,985	85,120	80,585	84,594	0.00	0.00	0.00	0.00
Market Capitalization	72,568	60,518	29,048	40,242	51,194	33,337	35,735	0.00	0.00	0.00	0.00
Book Value per Share	($2.12)	($3.13)	($4.36)	($2.21)	$3.31	($2.16)	($7.50)	$15.23	$16.88	$0.83	$0.00
Tangible Book Value per Share	($36.53)	($38.83)	($40.87)	($37.85)	($35.56)	($84.10)	($88.66)	($73.39)	($77.39)	($8.82)	$0.00
Total Capital	23,180	23,862	26,563	25,374	47,247	55,840	53,775	69,740	68,630	15,203	0.00
Total Debt	24,567	25,994	29,588	26,954	39,222	52,056	53,521	51,871	49,390	13,631	0.00
Total Long-Term Debt	19,363	19,012	23,015	21,131	32,865	44,319	49,201	43,998	43,061	10,650	0.00
Net Debt	19,438	17,312	19,463	15,638	28,380	41,890	42,840	31,579	34,139	7,195	0.00
Capital Expenditures (CapEx)	2,652	2,756	3,003	2,796	2,082	2,576	1,497	1,367	675	394	455
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8,727	-12,754	-11,337	-14,840	-13,716	-17,153	-14,190	-13,767	-12,482	-5,078	0.00
Debt-free Net Working Capital (DFNWC)	-5,094	-5,388	-2,730	-5,363	-4,208	-7,851	-4,514	2,362	-1,033	1,244	0.00
Net Working Capital (NWC)	-10,298	-12,370	-9,303	-11,186	-10,565	-15,588	-8,834	-5,511	-7,362	-1,737	0.00
Net Nonoperating Expense (NNE)	1,078	1,092	1,912	-1,820	21	-3,873	9,563	1,235	-515	744	1,000
Net Nonoperating Obligations (NNO)	18,991	17,312	19,463	15,638	7,967	41,890	42,840	31,579	34,139	4,461	0.00
Total Depreciation and Amortization (D&A)	3,123	3,303	3,156	4,551	5,390	6,143	7,746	8,634	5,206	2,931	3,030
Debt-free, Cash-free Net Working Capital to Revenue	-9.13%	-14.42%	-11.08%	-14.66%	-15.83%	-10.11%	0.00%	-17.42%	-20.08%	-9.97%	0.00%
Debt-free Net Working Capital to Revenue	-5.33%	-6.09%	-2.67%	-5.30%	-4.86%	-4.63%	0.00%	2.99%	-1.66%	2.44%	0.00%
Net Working Capital to Revenue	-10.78%	-13.99%	-9.09%	-11.05%	-12.19%	-9.19%	0.00%	-6.97%	-11.84%	-3.41%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.51	$0.00	$0.00	$0.00	$2.20	$3.21	($0.01)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	697.84M	713.79M	731.20M	760.40M	1.51B	1.47B	1.43B	1.53B	1.54B	0.00	0.00
Adjusted Diluted Earnings per Share	$6.38	$0.00	$0.00	$0.00	$2.13	$3.04	($0.07)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	697.84M	713.79M	731.20M	760.40M	1.51B	1.47B	1.43B	1.53B	1.54B	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.21	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	697.84M	713.79M	731.20M	760.40M	1.51B	1.47B	1.43B	1.53B	1.54B	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	5,654	4,464	4,334	3,887	3,526	1,656	-17,671	-1,691	-1,673	-360	-221
Normalized NOPAT Margin	5.92%	5.05%	4.24%	3.84%	4.07%	0.98%	0.00%	-2.14%	-2.69%	-0.71%	-0.41%
Pre Tax Income Margin	5.28%	4.62%	3.15%	5.85%	2.71%	-0.03%	0.00%	-6.03%	-7.23%	-2.53%	-2.24%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.86%	31.79%	39.80%	39.25%	38.89%	64.15%	-9.36%	-24.74%	0.00%	0.00%	0.00%
Augmented Payout Ratio	84.42%	93.48%	158.84%	65.46%	45.76%	64.30%	-61.04%	-49.45%	-114.16%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Dell Technologies' official financial filings.

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	11/1/2024	8/2/2024	5/3/2024	2/2/2024	11/3/2023	8/4/2023	5/5/2023	2/3/2023	10/28/2022	7/29/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.23%	9.51%	9.12%	6.32%	-10.87%	-9.99%	-13.21%	-19.89%	363.51%	-6.44%	9.23%
EBITDA Growth	24.26%	7.74%	14.76%	-11.03%	31.06%	55.68%	12.04%	-21.92%	127.24%	-77.79%	-29.82%
EBIT Growth	42.47%	17.97%	38.52%	-22.41%	61.21%	159.91%	12.44%	-41.88%	2,022.92%	-90.02%	-12.41%
NOPAT Growth	18.57%	6.81%	53.71%	83.27%	94.34%	35.18%	-26.64%	-35.84%	-30.69%	10.40%	14.70%
Net Income Growth	23.82%	12.25%	84.84%	65.22%	120.30%	316.60%	-10.08%	-45.93%	60,500.00%	-93.80%	-42.50%
EPS Growth	26.92%	16.18%	85.71%	67.09%	116.67%	312.12%	-7.35%	-42.34%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-61.84%	-27.83%	-58.31%	-41.31%	-43.52%	443.43%	343.92%	760.59%	-12.25%	-87.82%	-58.03%
Free Cash Flow Firm Growth	-122.53%	-100.89%	-111.42%	280.81%	273.52%	-79.74%	-85.02%	-97.43%	-152.26%	240.34%	295.58%
Invested Capital Growth	15.97%	9.61%	10.81%	-5.12%	-7.65%	-17.48%	-16.49%	1.43%	16.93%	-53.83%	-57.09%
Revenue Q/Q Growth	-1.79%	-2.64%	12.51%	-0.33%	0.30%	-2.98%	9.62%	-16.44%	1.29%	-6.45%	1.18%
EBITDA Q/Q Growth	34.17%	21.66%	31.63%	-36.73%	16.33%	29.58%	2.05%	-14.80%	38.18%	-6.74%	-28.88%
EBIT Q/Q Growth	52.30%	40.75%	80.80%	-57.53%	26.10%	65.27%	1.28%	-23.62%	103.30%	-28.50%	-47.65%
NOPAT Q/Q Growth	33.20%	18.34%	-28.95%	19.82%	19.99%	70.31%	-15.29%	12.27%	-16.54%	-7.58%	-25.91%
Net Income Q/Q Growth	46.67%	34.01%	-11.94%	-17.53%	32.97%	120.66%	-21.28%	-4.62%	151.45%	-52.37%	-52.67%
EPS Q/Q Growth	46.20%	35.04%	-11.36%	0.00%	33.82%	115.87%	-20.25%	-5.95%	154.55%	-51.47%	-50.37%
Operating Cash Flow Q/Q Growth	-62.33%	15.90%	28.48%	-31.96%	-28.76%	-33.04%	80.87%	-34.52%	585.35%	-45.30%	369.15%
Free Cash Flow Firm Q/Q Growth	-1,522.06%	90.55%	-116.64%	-11.72%	-35.87%	21.20%	454.90%	140.23%	-107.49%	-10.38%	-4.81%
Invested Capital Q/Q Growth	11.11%	-0.18%	1.53%	4.21%	5.02%	0.91%	-13.07%	0.24%	-6.17%	2.13%	5.58%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.35%	21.78%	21.22%	21.61%	24.72%	23.14%	23.49%	23.98%	22.99%	23.09%	20.58%
EBITDA Margin	12.09%	8.85%	7.08%	6.06%	10.44%	9.00%	6.74%	7.24%	7.10%	5.20%	5.22%
Operating Margin	9.64%	6.85%	5.36%	4.14%	7.58%	6.68%	5.08%	5.11%	4.75%	7.13%	4.81%
EBIT Margin	8.86%	5.71%	3.95%	2.46%	6.67%	5.30%	3.11%	3.37%	3.69%	1.84%	2.40%
Profit (Net Income) Margin	6.91%	4.63%	3.36%	4.29%	5.98%	4.51%	1.98%	2.76%	2.42%	0.97%	1.91%
Tax Burden Percent	77.97%	80.96%	85.04%	174.59%	89.72%	85.08%	63.73%	81.99%	65.66%	53.08%	79.69%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	22.03%	19.04%	14.96%	-74.59%	10.28%	14.92%	36.27%	18.01%	34.34%	46.92%	20.32%
Return on Invested Capital (ROIC)	43.82%	34.37%	27.74%	40.36%	38.02%	32.40%	19.26%	24.86%	20.92%	11.28%	11.31%
ROIC Less NNEP Spread (ROIC-NNEP)	43.02%	33.10%	26.05%	36.91%	37.03%	31.02%	17.70%	23.29%	19.92%	8.17%	9.29%
Return on Net Nonoperating Assets (RNNOA)	-443.80%	-243.78%	-169.78%	-246.82%	-264.08%	-198.07%	-120.25%	-167.67%	-151.85%	33.67%	64.51%
Return on Equity (ROE)	-399.98%	-209.40%	-142.04%	-206.46%	-226.05%	-165.67%	-101.00%	-142.81%	-130.94%	44.95%	75.82%
Cash Return on Invested Capital (CROIC)	19.70%	25.47%	24.04%	35.46%	36.20%	42.20%	40.12%	21.55%	12.82%	91.35%	95.69%
Operating Return on Assets (OROA)	10.46%	6.50%	4.31%	2.69%	6.87%	5.74%	3.34%	3.79%	4.14%	1.37%	1.92%
Return on Assets (ROA)	8.16%	5.26%	3.67%	4.69%	6.16%	4.88%	2.13%	3.11%	2.72%	0.73%	1.53%
Return on Common Equity (ROCE)	-421.57%	-217.72%	-147.02%	-213.70%	-234.47%	-171.11%	-104.72%	-148.38%	-136.68%	22.78%	20.73%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-178.60%	-136.77%	-126.58%	0.00%	-99.21%	-67.82%	-63.88%	0.00%	-52.38%	-191.05%
Net Operating Profit after Tax (NOPAT)	1,799	1,350	1,141	1,606	1,517	1,264	742	876	781	935	1,012
NOPAT Margin	7.52%	5.54%	4.56%	7.22%	6.80%	5.68%	3.24%	4.19%	3.12%	3.78%	3.83%
Net Nonoperating Expense Percent (NNEP)	0.80%	1.27%	1.68%	3.45%	0.99%	1.37%	1.56%	1.57%	1.00%	3.11%	2.03%
Return On Investment Capital (ROIC_SIMPLE)	7.76%	5.91%	-	-	6.36%	5.26%	-	-	2.94%	-	-
Cost of Revenue to Revenue	75.66%	78.22%	78.78%	78.39%	75.28%	76.86%	76.51%	76.02%	77.01%	76.91%	79.42%
SG&A Expenses to Revenue	11.47%	11.88%	12.74%	14.04%	13.93%	13.35%	15.34%	15.59%	15.06%	13.22%	13.41%
R&D to Revenue	3.23%	3.06%	3.12%	3.43%	3.21%	3.11%	3.07%	3.29%	3.18%	2.74%	2.37%
Operating Expenses to Revenue	14.70%	14.93%	15.86%	17.47%	17.14%	16.46%	18.41%	18.87%	18.24%	15.96%	15.78%
Earnings before Interest and Taxes (EBIT)	2,120	1,392	989	547	1,488	1,180	714	705	923	454	635
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,894	2,157	1,773	1,347	2,329	2,002	1,545	1,514	1,777	1,286	1,379
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.76	0.98	0.79	0.99	0.68	0.54	0.41	0.33	0.28	0.33	0.38
Price to Earnings (P/E)	15.80	22.43	18.27	24.80	17.86	18.58	19.98	16.59	11.90	15.05	5.84
Dividend Yield	1.72%	1.30%	1.59%	1.25%	1.74%	2.10%	2.68%	3.07%	3.25%	2.63%	1.54%
Earnings Yield	6.33%	4.46%	5.47%	4.03%	5.60%	5.38%	5.00%	6.03%	8.41%	6.64%	17.14%
Enterprise Value to Invested Capital (EV/IC)	5.23	6.97	5.75	6.87	5.13	4.61	3.88	3.15	2.96	2.77	3.01
Enterprise Value to Revenue (EV/Rev)	0.96	1.18	0.99	1.20	0.88	0.73	0.59	0.53	0.48	0.59	0.61
Enterprise Value to EBITDA (EV/EBITDA)	11.27	14.92	12.59	15.30	10.54	9.75	9.08	8.71	7.62	9.01	5.23
Enterprise Value to EBIT (EV/EBIT)	18.25	26.21	22.81	28.81	19.07	18.92	19.88	19.10	15.07	21.53	8.14
Enterprise Value to NOPAT (EV/NOPAT)	16.29	21.06	17.63	22.16	17.45	18.09	15.94	13.80	11.22	9.89	11.46
Enterprise Value to Operating Cash Flow (EV/OCF)	20.37	20.21	15.05	13.53	8.98	6.76	6.86	9.25	13.63	12.31	7.60
Enterprise Value to Free Cash Flow (EV/FCFF)	28.52	28.64	25.16	18.87	13.62	9.88	8.80	14.71	24.88	1.92	1.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-17.71	-11.43	-8.77	-9.36	-12.19	-10.36	-10.14	-9.72	-9.78	-8.11	-9.78
Long-Term Debt to Equity	-13.96	-8.86	-6.37	-7.12	-8.92	-7.83	-7.54	-7.85	-7.61	-6.11	-7.36
Financial Leverage	-10.32	-7.37	-6.52	-6.69	-7.13	-6.38	-6.79	-7.20	-7.62	4.12	6.95
Leverage Ratio	-46.00	-34.71	-30.75	-29.09	-33.30	-28.37	-32.11	-32.68	-39.60	20.40	29.42
Compound Leverage Factor	-46.00	-34.71	-30.75	-29.09	-33.30	-28.37	-32.11	-32.68	-39.60	20.40	29.42
Debt to Total Capital	105.98%	109.59%	112.87%	111.97%	108.93%	110.69%	110.94%	111.46%	111.39%	114.06%	111.39%
Short-Term Debt to Total Capital	22.45%	24.58%	30.89%	26.80%	29.26%	27.02%	28.46%	21.44%	24.74%	28.24%	27.49%
Long-Term Debt to Total Capital	83.53%	85.01%	81.98%	85.17%	79.67%	83.67%	82.49%	90.02%	86.64%	85.81%	83.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.41%	0.42%	0.45%	0.44%	0.40%	0.39%	0.39%	0.39%	0.37%	0.42%	0.43%
Common Equity to Total Capital	-6.39%	-10.01%	-13.32%	-12.40%	-9.33%	-11.08%	-11.33%	-11.85%	-11.75%	-14.48%	-11.83%
Debt to EBITDA	3.01	3.38	3.38	3.63	3.52	3.89	4.43	4.77	4.64	5.07	2.72
Net Debt to EBITDA	2.38	2.50	2.57	2.61	2.34	2.49	2.85	3.26	3.05	3.88	2.01
Long-Term Debt to EBITDA	2.37	2.62	2.46	2.76	2.57	2.94	3.30	3.86	3.61	3.82	2.05
Debt to NOPAT	4.35	4.77	4.74	5.25	5.82	7.23	7.78	7.56	6.83	5.57	5.97
Net Debt to NOPAT	3.44	3.52	3.61	3.79	3.88	4.62	5.00	5.16	4.49	4.26	4.41
Long-Term Debt to NOPAT	3.42	3.70	3.44	4.00	4.26	5.46	5.79	6.11	5.31	4.19	4.50
Altman Z-Score	1.65	1.64	1.39	1.52	1.31	1.22	1.11	1.16	1.13	0.87	0.90
Noncontrolling Interest Sharing Ratio	-5.40%	-3.97%	-3.51%	-3.51%	-3.72%	-3.28%	-3.68%	-3.90%	-4.39%	49.33%	72.66%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.78	0.77	0.72	0.73	0.74	0.76	0.77	0.80	0.82	0.75	0.77
Quick Ratio	0.41	0.43	0.40	0.40	0.44	0.47	0.47	0.48	0.52	0.41	0.44
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-625	-39	-408	2,450	2,775	4,327	3,570	643	-1,599	21,357	23,831
Operating Cash Flow to CapEx	79.59%	243.04%	196.48%	175.00%	210.87%	305.68%	515.06%	253.50%	357.58%	53.01%	89.72%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.18	1.14	1.09	1.09	1.03	1.08	1.07	1.13	1.12	0.75	0.80
Accounts Receivable Turnover	9.73	8.82	8.29	9.78	7.97	8.39	7.68	8.93	7.90	6.41	6.36
Inventory Turnover	14.38	14.59	14.94	15.71	16.04	14.62	15.16	14.61	14.92	16.73	19.60
Fixed Asset Turnover	14.97	14.97	14.63	14.36	13.99	15.10	15.57	16.49	17.60	12.94	13.57
Accounts Payable Turnover	3.71	3.32	3.14	3.55	3.38	3.18	3.00	3.37	3.23	3.89	3.99
Days Sales Outstanding (DSO)	37.51	41.36	44.01	37.31	45.82	43.53	47.53	40.88	46.21	56.98	57.41
Days Inventory Outstanding (DIO)	25.39	25.01	24.43	23.24	22.75	24.96	24.08	24.98	24.47	21.82	18.63
Days Payable Outstanding (DPO)	98.37	109.99	116.06	102.95	108.08	114.83	121.66	108.25	112.83	93.92	91.49
Cash Conversion Cycle (CCC)	-35.48	-43.61	-47.63	-42.41	-39.51	-46.34	-50.05	-42.39	-42.15	-15.12	-15.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,604	15,844	15,873	15,634	15,180	14,455	14,324	16,478	16,438	17,518	17,152
Invested Capital Turnover	5.83	6.20	6.08	5.59	5.59	5.70	5.95	5.94	6.71	2.98	2.95
Increase / (Decrease) in Invested Capital	2,424	1,389	1,549	-844	-1,258	-3,063	-2,828	233	2,380	-20,422	-22,819
Enterprise Value (EV)	92,101	110,501	91,322	107,443	77,925	66,638	55,587	51,892	48,608	48,535	51,688
Market Capitalization	72,568	91,921	72,555	88,987	60,518	49,519	38,049	32,391	29,048	27,548	31,676
Book Value per Share	($2.12)	($3.25)	($4.08)	($3.95)	($3.13)	($3.68)	($3.81)	($4.13)	($4.36)	($4.73)	($3.87)
Tangible Book Value per Share	($36.53)	($37.98)	($39.37)	($39.23)	($38.83)	($38.96)	($39.15)	($39.60)	($40.87)	($40.33)	($39.67)
Total Capital	23,180	22,832	21,725	22,757	23,862	24,047	24,461	25,508	26,563	23,961	24,179
Total Debt	24,567	25,022	24,522	25,480	25,994	26,617	27,138	28,432	29,588	27,329	26,934
Total Long-Term Debt	19,363	19,410	17,811	19,382	19,012	20,119	20,177	22,962	23,015	20,562	20,287
Net Debt	19,438	18,485	18,670	18,357	17,312	17,025	17,443	19,402	19,463	20,886	19,907
Capital Expenditures (CapEx)	735	639	682	596	727	704	624	701	759	747	807
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8,727	-11,078	-12,329	-12,839	-12,754	-13,690	-13,346	-11,594	-11,337	-11,362	-11,387
Debt-free Net Working Capital (DFNWC)	-5,094	-5,853	-7,779	-7,009	-5,388	-5,392	-4,982	-3,963	-2,730	-6,453	-5,880
Net Working Capital (NWC)	-10,298	-11,465	-14,490	-13,107	-12,370	-11,890	-11,943	-9,433	-9,303	-13,220	-12,527
Net Nonoperating Expense (NNE)	146	223	300	651	182	260	287	298	175	694	506
Net Nonoperating Obligations (NNO)	18,991	18,034	18,670	18,357	17,312	17,025	17,001	19,402	19,463	20,886	19,907
Total Depreciation and Amortization (D&A)	774	765	784	800	841	822	831	809	854	832	744
Debt-free, Cash-free Net Working Capital to Revenue	-9.13%	-11.79%	-13.42%	-14.31%	-14.42%	-15.02%	-14.26%	-11.94%	-11.08%	-13.74%	-13.50%
Debt-free Net Working Capital to Revenue	-5.33%	-6.23%	-8.47%	-7.81%	-6.09%	-5.92%	-5.32%	-4.08%	-2.67%	-7.81%	-6.97%
Net Working Capital to Revenue	-10.78%	-12.20%	-15.78%	-14.60%	-13.99%	-13.05%	-12.76%	-9.71%	-9.09%	-15.99%	-14.85%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.35	$1.61	$1.19	$1.36	$1.87	$1.39	$0.64	$0.81	$0.84	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	697.84M	700.46M	702.38M	709.30M	713.79M	711.60M	723.43M	727.24M	731.20M	716.13M	732.96M
Adjusted Diluted Earnings per Share	$2.31	$1.58	$1.17	$1.32	$1.82	$1.36	$0.63	$0.79	$0.84	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	697.84M	700.46M	702.38M	709.30M	713.79M	711.60M	723.43M	727.24M	731.20M	716.13M	732.96M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.84	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	697.84M	700.46M	702.38M	709.30M	713.79M	711.60M	723.43M	727.24M	731.20M	716.13M	732.96M
Normalized Net Operating Profit after Tax (NOPAT)	1,799	1,350	1,141	644	1,517	1,264	742	876	781	935	1,012
Normalized NOPAT Margin	7.52%	5.54%	4.56%	2.90%	6.80%	5.68%	3.24%	4.19%	3.12%	3.78%	3.83%
Pre Tax Income Margin	8.86%	5.71%	3.95%	2.46%	6.67%	5.30%	3.11%	3.37%	3.69%	1.84%	2.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.86%	30.02%	29.79%	31.69%	31.79%	39.61%	54.20%	51.37%	39.80%	98.73%	32.06%
Augmented Payout Ratio	84.42%	96.96%	105.71%	102.80%	93.48%	91.34%	121.49%	138.74%	158.84%	328.73%	97.90%

Frequently Asked Questions About Dell Technologies' Financials

When does Dell Technologies's fiscal year end?

According to the most recent income statement we have on file, Dell Technologies' financial year ends in January. Their financial year 2025 ended on January 31, 2025.

How has Dell Technologies' net income changed over the last 10 years?

Dell Technologies' net income appears to be on a downward trend, with a most recent value of $4.58 billion in 2025, falling from -$1.22 billion in 2015. The previous period was $3.37 billion in 2024. Find out what analysts predict for Dell Technologies in the coming months.

What is Dell Technologies's operating income?

Dell Technologies's total operating income in 2025 was $6.24 billion, based on the following breakdown:

Total Gross Profit: $21.25 billion
Total Operating Expenses: $15.01 billion

How has Dell Technologies revenue changed over the last 10 years?

Over the last 10 years, Dell Technologies' total revenue changed from $54.14 billion in 2015 to $95.57 billion in 2025, a change of 76.5%.

How much debt does Dell Technologies have?

Dell Technologies' total liabilities were at $81.13 billion at the end of 2025, a 3.7% decrease from 2024, and a 86.3% increase since 2016.

How much cash does Dell Technologies have?

In the past 9 years, Dell Technologies' cash and equivalents has ranged from $3.63 billion in 2025 to $13.94 billion in 2018, and is currently $3.63 billion as of their latest financial filing in 2025.

How has Dell Technologies' book value per share changed over the last 10 years?

Over the last 10 years, Dell Technologies' book value per share changed from 0.00 in 2015 to -2.12 in 2025, a change of -211.6%.

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This page (NYSE:DELL) was last updated on 5/29/2025 by MarketBeat.com Staff

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Dell Technologies (DELL) Financials

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Dell Technologies (DELL) Financials

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