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Dell Technologies financials & valuation

Reported statements, fiscal periods and valuation definitions in one place.

Section freshness

Research as of Jul 31, 2026 · Prices as of Sep 29, 9:33 AM EDT · Fundamentals checked Sep 29, 8:40 AM EDT · Statements Jul 31, 2026

Financial statements

Revenue

113.54B

FY2026 · ended Jan 30, 2026

Operating Income

8.15B

FY2026 · ended Jan 30, 2026

Net Income

5.94B

FY2026 · ended Jan 30, 2026

Amounts in USD. B = billions · M = millions. Scroll horizontally for earlier periods.

Sources, units & calculation notes

TECHi unified data / SEC Companyfacts. Per-share figures are in USD/share; margins in %, debt/equity in ×. TTM sums four consecutive quarters; balance sheets remain period-end balances. Growth requires comparable positive values. EPS uses the provider’s reported share basis; missing direct quarters are unavailable, and mixed filing split bases are not summed. EPS growth and trend lines require matching documented accounting and split bases. Tab through controls; use arrow keys inside the table.

DELL annual income
FY2026Ended Jan 30, 2026Filed Mar 16, 2026Source filing	FY2025Ended Jan 31, 2025Filed Mar 25, 2025Source filing	FY2024Ended Feb 2, 2024Filed Mar 25, 2025Source filing	FY2023Ended Feb 3, 2023Filed Mar 25, 2025Source filing	1Y change	3Y annual growth
113.54B	95.57B	88.43B	102.3B	18.8%	3.5%
5.94B	4.59B	3.39B	2.44B	29.3%	34.5%
22.71B	21.25B	21.07B	22.69B	6.9%	0.0%
8.15B	6.24B	5.41B	5.77B	30.7%	12.2%

Earnings quality · Jan 30, 2026

Net income: 5.94B
Free cash flow: 8.55B
Stock-based compensation: 723M
FCF / net income: 144.1%
Accrual gap / revenue: -4.6%
Cash conversion: Strong cash conversion

Accrual gap = (net income − operating cash flow) / revenue. TECHi descriptive thresholds: strong ≥100%, moderate 75–100%, weak <75%. CapEx timing, working capital and industry structure affect the ratio; it is not an accounting audit.

Download quarterly financial dataset

Changes between reports

Q2 Jul 31, 2026 versus Q1 May 1, 2026

Latest quarter compared with the preceding report. Margin changes are in percentage points (pp).

Revenue: 46.97B↑ +7.1%; Previous: 43.84B · USD
Gross margin: 20.93%↑ +3.2 pp; Previous: 17.75%
Operating margin: 11.46%↑ +3.1 pp; Previous: 8.34%
Net margin: 8.80%↑ +1.0 pp; Previous: 7.84%
Cash: 11.57B↓ -0.1%; Previous: 11.58B · USD
Debt: 34.47B↑ +10.6%; Previous: 31.16B · USD
Inventory: 21.29B↑ +41.4%; Previous: 15.05B · USD
Capex: 1.24B↑ +28.7%; Previous: 963M · USD
Stock-based compensation: 184M↓ -2.6%; Previous: 189M · USD

Reported-period comparison. Guidance and risk-factor changes require reading the filings.

Read the filings

Valuation & ratios

Multiples with negative or missing earnings are not meaningful. Annual free cash flow yield uses the latest fiscal year; provider forward multiples may use a different earnings horizon.

Valuation history and definitions

5Y median / percentile: Five-year observations unavailable
Forward EPS vs trailing EPS: 50.83%
Forward P/E / expected EPS growth: 0.41×

EPS growth proxy compares the available annual estimate (FY2027 period end 2027-01-31) with trailing EPS; it is not a multi-year consensus growth rate. Historical valuation uses dated observations, using price divided by the annual EPS estimate recorded that day. Legacy provider P/E observations with an unknown earnings basis are excluded. Available P/E observations: 2 since 2026-09-28.

Why provider ratios differ · reconciliation

Forward P/E can use next fiscal year, current fiscal year or next-twelve-month earnings; trailing P/E can use GAAP or adjusted earnings and different closing prices. TECHi compares figures with the same earnings basis and reporting period. Different definitions are not averaged together.

Metric	Value / formula	Source and date
Reported forward P/E	—	Not supplied · period unknown · date unknown
Trailing P/E	31.65	Yahoo Finance · period unknown · 2026-09-29T12:40:03.098Z
Trailing EPS	17.17	Yahoo Finance · period unknown · 2026-09-29T12:40:03.098Z
Price ÷ annual EPS estimate	21.05×	TECHi calculation · FY2027 period end 2027-01-31

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