Dell Technologies Inc. is a global information technology company that designs, manufactures, and sells a broad portfolio of computer hardware, enterprise servers, and data storage solutions. Operating worldwide, the company serves a diverse customer base ranging from individual consumers to large enterprises and government agencies. Dell is distinctive for its historical direct-to-customer sales model and its end-to-end enterprise infrastructure offerings, which increasingly feature AI-optimized servers and hybrid cloud solutions.
Financial Statements
In thousands, USD
FY 2026
FY 2025
FY 2024
FY 2023
Total Revenues
113,538,000
95,567,000
88,425,000
102,301,000
Cost of Sales
90,831,000
74,317,000
67,356,000
79,615,000
Gross Profit
22,707,000
21,250,000
21,069,000
22,686,000
Selling, General & Administrative Expenses
11,416,000
11,952,000
12,857,000
14,136,000
Research & Development Expenses
3,142,000
3,061,000
2,801,000
2,779,000
Operating Profit
8,149,000
6,237,000
5,411,000
5,771,000
Total Non-Operating Income
(886,000)
(1,189,000)
(1,324,000)
(2,546,000)
Income Before Provision for Income Taxes
7,263,000
5,048,000
4,087,000
3,225,000
Provision for Income Taxes
1,327,000
472,000
715,000
803,000
Consolidated Net Income
5,936,000
4,576,000
3,372,000
2,422,000
Net Income Attributable to Minority Interests and Other
—
(16,000)
(16,000)
(20,000)
Net Income Attributable to Common Shareholders
5,936,000
4,592,000
3,388,000
2,442,000
Basic EPS
8.79
6.51
4.71
3.33
Diluted EPS
8.68
6.38
4.60
3.24
Basic Weighted Average Shares Outstanding
675,000
705,000
720,000
734,000
Diluted Weighted Average Shares Outstanding
684,000
720,000
736,000
753,000
Shares Outstanding
652,000
696,000
705,000
716,000
FY 2026
FY 2025
FY 2024
FY 2023
Cash and Cash Equivalents
11,528,000
3,633,000
7,366,000
8,607,000
Total Cash and Cash Equivalents
11,528,000
3,633,000
7,366,000
8,607,000
Accounts Receivable
17,585,000
10,298,000
9,343,000
12,482,000
Other Receivables
8,458,000
5,304,000
4,643,000
5,659,000
Total Trade Receivables
26,043,000
15,602,000
13,986,000
18,141,000
Inventories
10,437,000
6,716,000
3,622,000
4,776,000
Other Current Assets
9,594,000
10,278,000
11,010,000
10,827,000
Total Current Assets
57,602,000
36,229,000
35,984,000
42,351,000
Net Property, Plant & Equipment
6,676,000
6,336,000
6,432,000
6,209,000
Net Intangible Assets
4,533,000
4,988,000
5,701,000
6,468,000
Goodwill
19,547,000
19,120,000
19,700,000
19,676,000
Long-Term Investments
1,730,000
1,496,000
1,316,000
1,518,000
Other Long-Term Assets
11,198,000
11,577,000
12,993,000
13,389,000
Total Assets
101,286,000
79,746,000
82,126,000
89,611,000
Accounts Payable
33,630,000
20,832,000
19,226,000
18,598,000
Accrued Expenses
8,315,000
6,597,000
6,828,000
8,874,000
Short-Term Debt
7,990,000
5,204,000
6,982,000
6,573,000
Unearned Revenue
13,334,000
13,673,000
15,318,000
15,542,000
Other Current Liabilities
—
221,000
—
2,067,000
Total Current Liabilities
63,269,000
46,527,000
48,354,000
51,654,000
Long-Term Debt
23,513,000
19,363,000
19,012,000
23,015,000
Other Long-Term Liabilities
16,974,000
15,243,000
16,892,000
17,967,000
Total Long-Term Liabilities
40,487,000
34,606,000
35,904,000
40,982,000
Total Liabilities
103,756,000
81,133,000
84,258,000
92,636,000
Treasury Stock
(14,533,000)
(8,502,000)
(5,900,000)
(3,813,000)
Additional Paid-in Capital
9,457,000
9,119,000
8,926,000
8,424,000
Accumulated Other Comprehensive Income
(719,000)
(939,000)
(800,000)
(1,001,000)
Retained Earnings
3,325,000
(1,160,000)
(4,453,000)
(6,732,000)
Total Common Shareholders' Equity
(2,470,000)
(1,482,000)
(2,227,000)
(3,122,000)
Minority Interests and Other
—
95,000
95,000
97,000
Total Shareholders' Equity
(2,470,000)
(1,482,000)
(2,132,000)
(3,025,000)
Total Liabilities and Shareholders' Equity
101,286,000
79,746,000
82,126,000
89,611,000
FY 2026
FY 2025
FY 2024
FY 2023
Net Income
5,936,000
4,576,000
3,372,000
2,422,000
Depreciation & Amortization
3,029,000
3,123,000
3,303,000
3,156,000
Share-Based Compensation Expense
723,000
785,000
878,000
931,000
Other Adjustments
654,000
245,000
518,000
244,000
Changes in Trade Receivables
(9,762,000)
(2,246,000)
3,286,000
(348,000)
Changes in Inventories
(3,987,000)
(3,515,000)
975,000
875,000
Changes in Accounts Payable
12,665,000
1,703,000
(498,000)
(8,546,000)
Changes in Unearned Revenue
(39,000)
(2,497,000)
(1,022,000)
3,209,000
Changes in Other Operating Activities
1,966,000
2,347,000
(2,136,000)
1,622,000
Cash from Operating Activities
11,185,000
4,521,000
8,676,000
3,565,000
Capital Expenditure
(2,633,000)
(2,652,000)
(2,756,000)
(3,003,000)
Purchases of Investments
(197,000)
(125,000)
(172,000)
(108,000)
Proceeds from Sale of Investments
246,000
382,000
226,000
116,000
Payments for Business Acquisitions
(84,000)
—
(126,000)
(70,000)
Proceeds from Business Divestments
533,000
—
—
—
Other Investing Activities
80,000
180,000
45,000
41,000
Cash from Investing Activities
(2,055,000)
(2,215,000)
(2,783,000)
(3,024,000)
Issuance of Long-Term Debt
15,004,000
9,258,000
7,775,000
12,479,000
Repayments of Long-Term Debt
(8,522,000)
(10,570,000)
(11,246,000)
(9,825,000)
Net Issuance / (Repayments) of Long-Term Debt
6,482,000
(1,312,000)
(3,471,000)
2,654,000
Issuance of Common Shares
5,000
1,000
10,000
5,000
Repurchases of Common Shares
(6,404,000)
(3,165,000)
(2,452,000)
(3,281,000)
Net Issuance / (Repurchases) of Common Shares
(6,399,000)
(3,164,000)
(2,442,000)
(3,276,000)
Common Share Dividends Paid
(1,459,000)
(1,275,000)
(1,072,000)
(964,000)
Other Financing Activities
(88,000)
(64,000)
(109,000)
(39,000)
Cash from Financing Activities
(1,464,000)
(5,815,000)
(7,094,000)
(1,625,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
221,000
(179,000)
(186,000)
(104,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash