DELL

MKT CAP:$147B

Dell Technologies Inc.

Market Cap

$147B

Technology·Computer Hardware·🇺🇸 United States·NYSE

Technology·Computer Hardware·🇺🇸·NYSE

Stock Price

$217.57+$89.77 (+70.24%)

Apr 24, 2026

Company Details

Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG),...

CEO

Michael Saul Dell

IPO Date

Aug 17, 2016

Website

www.dell.com

Key Metrics TTM

Revenue

$113.5B

+19.4% YoY

Net Income

$5.9B

EPS (Diluted)

$8.72

Free Cash Flow

$8.6B

Revenue / Share

$169.38

Gross Margin

20.1%

Operating Margin

7.2%

Net Margin

5.2%

FCF Margin

7.5%

P/S

1.3x

P/E

24.7x

Earnings Reports

FY 2026

Mar 16, 2026

$113.5B+18.8%EPS $8.68

Q4 2026

Mar 16, 2026

$33.4BEPS $3.37

Q3 2026

Dec 9, 2025

$27.0B+10.8%EPS $2.28

Q2 2026

Sep 8, 2025

$29.8BEPS $1.70

Q1 2026

Jun 10, 2025

$23.4BEPS $1.37

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$12.2B	$2.2B	-$139M
Q2 17	$13.1B	$2.3B	$67M
Q1 23	$26.1B	$5.8B	$1.6B
Q3 24	$22.3B	$5.1B	$1.5B
Q4 24	$22.3B	$5.3B	$1.5B
Q3 25	$24.4B	$5.3B	$1.7B
Q1 26	$23.4B	$4.9B	$1.2B
Q2 26	$29.8B	$5.4B	$1.8B
Q3 26	$27.0B	$5.7B	$2.1B
Q4 26	$33.4B	$6.7B	$3.1B

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q2 17	—	—
Q1 23	—	—
Q3 24	0.7x	19.0x
Q4 24	0.7x	15.6x
Q3 25	1.0x	20.7x
Q1 26	0.7x	15.3x
Q2 26	0.9x	20.4x
Q3 26	1.1x	23.0x
Q4 26	0.7x	13.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	-$63M	-$155M
Q2 17	$1.9B	$1.7B
Q1 23	-$269M	-$959M
Q3 24	$2.2B	$1.4B
Q4 24	$1.5B	$806M
Q3 25	$1.6B	$914M
Q1 26	$2.8B	$2.2B
Q2 26	$2.5B	$1.9B
Q3 26	$1.2B	$503M
Q4 26	$4.7B	$4.0B

Capital Expenditures

Quarter	CapEx
Q1 17	$92M
Q2 17	$143M
Q1 23	$690M
Q3 24	$704M
Q4 24	$727M
Q3 25	$639M
Q1 26	$568M
Q2 26	$675M
Q3 26	$669M
Q4 26	$721M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 24	+82.3%	+68.2%
Q3 25	+86.4%	+74.5%
Q1 26	-10.5%	-9.6%
Q2 26	+33.8%	+34.9%
Q3 26	+21.0%	+19.5%
Q4 26	+37.0%	+33.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$14M	0.1%
Q2 17	$20M	0.2%
Q1 23	$232M	0.9%
Q3 24	$227M	1.0%
Q4 24	$203M	0.9%
Q3 25	$198M	0.8%
Q1 26	$190M	0.8%
Q2 26	$179M	0.6%
Q3 26	$165M	0.6%
Q4 26	$189M	0.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 17	$264M	—	—	$2.1B
Q2 17	$246M	—	—	$2.0B
Q1 23	$681M	—	—	$3.6B
Q3 24	$692M	—	—	$3.0B
Q4 24	$716M	$2.1B	$900M	—
Q3 25	$745M	—	—	$2.9B
Q1 26	$808M	—	—	$3.0B
Q2 26	$785M	—	—	$2.9B
Q3 26	$752M	—	—	$2.7B
Q4 26	$797M	—	—	$2.8B

Revenue Segments

Quarter	Corporate, Non-Segment	Other Segments	Client Solutions	Infrastructure Solutions Group
Q1 17	$16M	$12.5B	—	—
Q2 17	$51M	$13.0B	—	—
Q1 23	—	$1.2B	$15.6B	$9.3B
Q3 24	—	$1.5B	$12.3B	$8.5B
Q3 25	—	$867M	$12.1B	$11.4B
Q1 26	$552M	$22.8B	—	—
Q2 26	$473M	$29.3B	—	—
Q3 26	$420M	$26.6B	—	—
Q4 26	$283M	$33.1B	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$6.7B	$0	$6.7B
Q2 23	$5.5B	$0	$5.5B
Q3 23	$4.9B	$0	$4.9B
Q4 23	$8.6B	$0	$8.6B
Q1 24	$7.6B	$0	$7.6B
Q2 24	$8.4B	$0	$8.4B
Q3 24	$8.3B	$0	$8.3B
Q4 24	$7.4B	$0	$7.4B
Q1 25	$5.8B	$0	$5.8B
Q2 25	$4.5B	$0	$4.5B
Q3 25	$5.2B	$0	$5.2B
Q4 25	$3.6B	$0	$3.6B
Q1 26	$7.7B	$0	$7.7B
Q2 26	$8.3B	$0	$8.3B
Q3 26	$9.6B	$0	$9.6B
Q4 26	$11.5B	$0	$11.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	718M	—	—
Q2 17	787M	+9.5%	—
Q1 23	780M	-0.9%	—
Q3 24	740M	-5.1%	—
Q4 24	730M	-1.4%	+1.5%
Q3 25	724M	-0.8%	-8.0%
Q1 26	702M	-3.0%	-10.0%
Q2 26	702M	0.0%	-5.1%
Q3 26	680M	-3.1%	-6.8%
Q4 26	670M	-1.4%	-7.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 17	—	—
Q2 17	—	—
Q1 23	$196.4K	133K
Q3 24	$167.3K	133K
Q4 24	$167.8K	133K
Q3 25	$203.1K	120K
Q1 26	$216.5K	108K
Q2 26	$275.7K	108K
Q3 26	$250.0K	108K
Q4 26	$344.1K	97K

Revenue / Employee