NYSE · Financial Statements

Dell Technologies Inc. (DELL) Financial Statements

$456.44 NYSE: DELL Market Cap $290.21B

Dell Technologies Inc. most recently reported annual revenue of $113.5B, net profit of $5.9B. Revenue grew at an average annual rate of 5.5% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Dell Technologies Inc.: Revenue rose from $62.2B in 2017 to $113.5B in 2026, a change of +82.6% over 9 years; net profit was positive in 7 of 10 reported years; operating margin moved from -3.8% to 7.4%, a shift of +11.3 percentage points; the most recent year shows net profit of $5.9B.

Income Statement — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Revenue$62.2B$79.0B$90.6B$84.8B$86.7B$101.2B$102.3B$88.4B$95.6B$113.5B
Operating Expenses$64.6B$81.5B$90.8B$82.4B$83.0B$96.5B$96.5B$83.0B$89.3B$105.1B
Operating Profit$-2.4B$-2.4B$-191.0M$2.4B$3.7B$4.7B$5.8B$5.4B$6.2B$8.4B
Operating Margin-3.8%-3.1%-0.2%2.8%4.3%4.6%5.6%6.1%6.5%7.4%
Other Income$-2.1B$-2.4B$-2.2B$-2.4B$-1.3B$1.3B$-2.5B$-1.3B$-1.2B$-1.2B
Interest$1.8B$2.5B$2.6B$2.4B$2.1B$1.5B$1.3B$1.5B$1.4B$1.6B
Depreciation$4.9B$8.6B$7.7B$6.1B$5.4B$4.6B$3.2B$3.3B$3.1B$3.0B
Profit Before Tax$-4.5B$-4.8B$-2.4B$-51.0M$2.3B$5.9B$3.2B$4.1B$5.0B$7.3B
Tax$31.6M$38.6M$7.6M$1.1B$4.3M$16.6M$24.9M$17.5M$9.3M$18.3M
Net Profit$-1.2B$-2.8B$-2.3B$4.6B$3.3B$5.6B$2.4B$3.4B$4.6B$5.9B
EPS$-1.62$-3.70$-2.96$6.03$4.22$7.02$3.24$4.60$6.38$8.68
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$22.3B$22.3B$22.2B$25.0B$24.4B$23.8B$23.4B$29.8B$27.0B$33.4B$43.8B$47.0B
Operating Expenses$20.8B$20.8B$21.3B$23.7B$22.7B$21.6B$22.1B$28.0B$24.8B$30.2B$40.2B$41.6B
Operating Profit$1.5B$1.5B$965.0M$1.3B$1.7B$2.2B$1.2B$1.8B$2.2B$3.1B$3.7B$5.4B
Operating Margin6.7%6.7%4.3%5.4%6.8%9.1%5.3%6.0%8.0%9.4%8.3%11.5%
Interest$372.0M$374.0M$359.0M$387.0M$328.0M$344.0M$361.0M$399.0M$396.0M$411.0M$391.0M$254.0M
Profit Before Tax$1.2B$1.3B$592.0M$989.0M$1.4B$2.0B$1.1B$1.4B$1.9B$2.8B$3.9B$5.1B
Tax$14.9M$10.1M$-67.6M$15.0M$19.0M$22.3M$10.9M$19.2M$20.3M$19.3M$12.9M$19.4M
Net Profit$1.0B$1.2B$997.0M$846.0M$1.1B$1.5B$965.0M$1.2B$1.5B$2.3B$3.4B$4.1B
EPS$1.36$1.64$1.37$1.17$1.58$2.15$1.37$1.70$2.28$3.37$5.24$6.34

Over the 10 years reported for Dell Technologies Inc., borrowings decreased from $49.4B in 2017 to $31.5B in 2026, cash stood at $11.5B in the latest year, shareholders' equity was $9.5B, current assets covered current liabilities 0.91 times.

Balance Sheet — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Total Assets$118.2B$124.2B$111.8B$118.9B$123.4B$92.7B$89.6B$82.1B$79.7B$101.3B
Current Assets$30.8B$40.3B$36.1B$36.9B$43.6B$45.0B$42.4B$36.0B$36.2B$57.6B
Cash$9.5B$13.9B$9.7B$9.3B$9.5B$9.5B$8.6B$7.4B$3.6B$11.5B
Inventory$2.5B$2.7B$3.6B$3.3B$3.4B$5.9B$4.8B$3.6B$6.7B$10.4B
Receivables$12.6B$15.6B$16.8B$17.4B$16.0B$18.1B$18.1B$14.0B$15.6B$26.0B
Fixed Assets$5.7B$5.4B$5.3B$7.8B$4.8B$5.4B$6.2B$6.4B$6.3B$6.7B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$5.8B$6.3B$1.0B$864.0M$1.3B$1.8B$1.5B$1.3B$1.5B$1.7B
Other Assets$38.9B$39.9B$40.1B$41.7B$20.0B$19.8B$19.7B$19.7B$19.1B$19.5B
Total Liabilities$99.0B$106.3B$111.6B$115.1B$115.4B$94.3B$92.6B$84.3B$81.1B$103.8B
Current Liabilities$38.1B$45.8B$45.0B$52.5B$54.1B$56.2B$51.7B$48.4B$46.5B$63.3B
Borrowings$49.4B$51.9B$53.5B$53.8B$41.4B$27.0B$29.6B$26.0B$24.6B$31.5B
Other Liabilities$49.6B$54.5B$58.0B$61.2B$73.9B$67.4B$63.0B$58.3B$56.6B$72.3B
Equity$20.2B$19.9B$16.1B$16.1B$16.8B$7.9B$8.4B$8.9B$9.1B$9.5B
Reserves$13.5B$12.1B$-4.6B$-945.0M$3.0B$-1.7B$-3.1B$-2.2B$-1.5B$-2.5B

For Dell Technologies Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $8.6B; free cash flow was positive in 10 of 10 years; financing activities used $6.5B in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Operating Cash Flow$2.3B$6.8B$7.0B$9.3B$11.4B$10.3B$3.6B$8.7B$4.5B$11.2B
Investing Cash Flow$-32.2B$-4.1B$1.9B$-7.3B$-2.5B$-1.5B$-6.0B$-5.5B$-4.9B$-4.7B
Financing Cash Flow$-1.8B$-2.3B$-14.6B$-4.2B$-1.9B$-10.6B$-3.3B$-2.6B$-3.2B$-6.5B
Net Cash Flow$2.9B$4.5B$-4.1B$-89.0M$5.0B$-5.1B$-1.2B$-1.4B$-3.7B$7.9B
Free Cash Flow$1.5B$5.3B$5.5B$6.7B$9.3B$7.5B$562.0M$5.9B$1.9B$8.6B

Valuation & Return Ratios

MetricValue
PEG Ratio0.17
EV / EBITDA17.23
FCF Yield2.91%
Quick Ratio0.71
Interest Coverage9.95
Return 1Y199.07%
Return 3Y612.33%
Return 5Y793.53%

Dell Technologies Inc. (DELL) financials — frequently asked questions

What is Dell Technologies Inc.'s annual revenue?

Dell Technologies Inc. (DELL) reported annual revenue of $113.5B in its most recent fiscal year.

What is Dell Technologies Inc.'s net profit?

Dell Technologies Inc. (DELL) reported net profit of $5.9B in its most recent fiscal year.

What is DELL EV/EBITDA?

Dell Technologies Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 17.23.

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