Logo

DELL

Dell Technologies Inc.

DELL

Dell Technologies Inc. • NYSE
$133.22 ▼ -0.03% (-0.04)
Market Cap $89.57 B
52w High $168.08
52w Low $66.25
Dividend Yield 2.02%
P/E 17.41
Volume 5.47M
Outstanding Shares 672.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2026 $27.005B ▼ $3.595B ▼ $1.548B ▲ 5.732% ▲ $2.24 ▲ $2.119B ▲
Q2-2026 $29.776B ▲ $3.674B ▼ $1.164B ▲ 3.909% ▼ $1.72 ▲ $756M ▼
Q1-2026 $23.378B ▼ $3.772B ▲ $965M ▼ 4.128% ▼ $1.39 ▼ $2.182B ▼
Q4-2025 $23.806B ▼ $3.326B ▼ $1.533B ▲ 6.44% ▲ $2.2 ▲ $3.089B ▲
Q3-2025 $24.366B $3.639B $1.132B 4.646% $1.61 $2.485B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2026 $9.569B ▲ $87.479B ▼ $90.099B ▼ $-2.62B ▲
Q2-2026 $8.145B ▲ $89.176B ▲ $91.942B ▲ $-2.766B ▲
Q1-2026 $7.7B ▲ $86.869B ▲ $89.893B ▲ $-3.024B ▼
Q4-2025 $3.633B ▼ $79.746B ▼ $81.133B ▼ $-1.482B ▲
Q3-2025 $5.225B $81.951B $84.141B $-2.285B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2026 $1.548B ▲ $0 ▼ $-617M ▲ $857M ▲ $1.442B ▲ $0 ▼
Q2-2026 $1.164B ▲ $2.543B ▼ $-655M ▼ $-1.465B ▼ $438M ▼ $1.868B ▼
Q1-2026 $965M ▼ $2.796B ▲ $-88M ▲ $1.237B ▲ $4.034B ▲ $2.228B ▲
Q4-2025 $1.653B ▲ $585M ▼ $-678M ▼ $-1.391B ▼ $-1.585B ▼ $-150M ▼
Q3-2025 $1.127B $1.553B $-524M $-315M $733M $914M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Corporate NonSegment
Corporate NonSegment
 $0 ▲$3.58Bn ▲$550.00M ▼$470.00M ▼
Other Segments
Other Segments
 $870.00M ▲$89.10Bn ▲$22.83Bn ▼$29.30Bn ▲
Client Solutions
Client Solutions
 $12.13Bn ▲$0 ▼$0 ▲$0 ▲
Infrastructure Solutions Group
Infrastructure Solutions Group
 $11.37Bn ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Dell’s revenue has swung with hardware demand, rising strongly into the early 2020s, dipping during the recent PC slowdown, and then recovering. Despite these ups and downs, profitability has generally improved: operating margins have crept higher and recent net income is solid compared with most prior years. Earnings, however, remain cyclical and sensitive to the health of PC and enterprise hardware spending, so investors should expect some volatility from year to year rather than a smooth upward path.

Balance Sheet

Balance Sheet The balance sheet shows a company that has intentionally slimmed down. Total assets have trended lower and debt has been cut meaningfully from earlier levels, which reduces financial risk but still leaves Dell with a noticeable amount of leverage. Shareholder equity has turned negative, likely reflecting past financial engineering such as spin-offs and buybacks rather than pure operating weakness, but it does mean there is less balance-sheet cushion in a severe downturn. Cash on hand has recently come down from prior peaks, so Dell is somewhat leaner on day-to-day liquidity than it was a few years ago.

Cash Flow

Cash Flow Dell consistently generates cash from its operations, but the amounts move around a lot with the hardware cycle and working capital swings. Free cash flow has stayed positive over the period, even in softer years, helped by relatively modest capital spending needs for a company of this size. This suggests a business that can usually fund investment, debt reduction, and shareholder returns from internal cash, though the lumpiness means some years are flush while others are much tighter.

Competitive Edge

Competitive Edge Dell holds a strong position in commercial PCs and enterprise infrastructure, supported by a well-known brand, a huge customer base, and an efficient global supply chain. Its breadth is a key strength: it can offer end-to-end solutions from laptops to data-center servers and storage, which makes it sticky with large organizations. At the same time, its core PC and server markets are highly price-competitive and increasingly commoditized, with tough rivals like HP, Lenovo, and HPE and long-term pressure from cloud providers. Overall, Dell has scale and relationships on its side, but its moat is not unassailable and depends heavily on execution and service quality.

Innovation and R&D

Innovation and R&D Dell is leaning hard into AI, multi‑cloud, and edge computing to move beyond being seen as just a PC and server vendor. The company has invested heavily in R&D over time and is pushing offerings such as the Dell AI Factory, AI‑optimized PowerEdge servers, and APEX consumption-based infrastructure, often in close partnership with firms like NVIDIA. It is also building edge platforms like NativeEdge and preparing for an AI‑driven PC refresh cycle, while tying these efforts to sustainability goals. The opportunity is substantial, but Dell must prove it can convert these initiatives into durable, recurring revenue in markets where many competitors are chasing the same themes.

Summary

Dell today looks like a mature hardware and infrastructure provider that is trying to reinvent itself around AI, hybrid cloud, and as‑a‑service models. Financially, profitability and cash generation are solid for a cyclical business, and debt has come down, but negative equity and swings in earnings highlight that this is not a low‑volatility story. Strategically, Dell’s scale, brand, and enterprise relationships are clear strengths, yet it must navigate intense competition and the long-term shift toward cloud services. The company’s future trajectory will largely hinge on how well it executes in AI infrastructure, APEX cloud services, edge computing, and the coming AI‑PC upgrade cycle, all of which offer upside but come with meaningful uncertainty.

NEWS

November 25, 2025 · 4:05 PM UTC

Dell Technologies Delivers Third Quarter Fiscal 2026 Financial Results

Read more

November 18, 2025 · 4:30 PM UTC

Dell Technologies to Present at Investor Conference in December

Read more

November 17, 2025 · 5:30 PM UTC

Dell Technologies Powers TACC's New Supercomputer Horizon

Read more

November 17, 2025 · 9:00 AM UTC

Dell Technologies Advances Enterprise AI Innovation With NVIDIA

Read more

November 11, 2025 · 4:30 PM UTC

Dell Technologies to Hold Conference Call Nov. 25 to Discuss Third Quarter Fiscal 2026 Financial Results

Read more