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NYSE · Technology · Financials

Dell Technologies Inc (DELL) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for DELL. Market data source · as of 2026-05-01.

Section freshness

Price Sep 4, 1:41 PM EDT · Statements Apr 30, 8:00 PM EDT

Financial read

DELL latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$43.84B

+87.5% YoY

Net income

$3.44B

+275.7% QoQ

Gross margin

17.75%

Gross profit $7.78B

Net margin

7.84%

Operating margin 8.34%

Balance sheet coverage

DELL balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-05-01

Open balance sheet table

Latest period

Q1 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$114.91B

Liabilities $116.32B

Cash / debt

$11.58B

Net cash -$19.58B

Equity / working capital

-$1.40B

Working capital -$3.99B

Financial statements

DELL statement coverage.

Income statement, balance sheet, and cash-flow figures for DELL, with quarterly and annual history in the tables below.

Data last updated

Apr 30, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual DELL statements, sourced from Market data source · as of 2026-05-01.

Financial statement period

DELL statement history

Market data source · as of 2026-05-01 · Data last updated: Apr 30, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Gross profit	Operating income	Net income	Net margin	Revenue QoQ	Net income QoQ
Q1 FY2026	$43.84B	$7.78B	$3.66B	$3.44B	7.84%	+31.3%	+275.7%
Q4 FY2025	$33.38B	$6.73B	$3.09B	$915.00M	2.74%	+23.6%	-40.9%
Q3 FY2025	$27.00B	$5.59B	$2.12B	$1.55B	5.73%	-9.3%	+33.0%
Q2 FY2025	$29.78B	$5.45B	$1.77B	$1.16B	3.91%	+27.4%	+20.6%
Q1 FY2025	$23.38B	$4.94B	$1.17B	$965.00M	4.13%	-4.1%	-17.9%
Q3 FY2024	$24.37B	$5.36B	$1.72B	$1.18B	4.82%	0.0%	0.0%
Q4 FY2024	$24.37B	$5.36B	$1.72B	$1.18B	4.82%	-2.6%	+32.5%
Q2 FY2024	$25.03B	$5.36B	$1.39B	$887.00M	3.54%	+12.5%	-11.0%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total debt	Total equity	Debt QoQ
Q1 FY2026	$11.58B	$70.61B	$74.60B	$114.91B	$116.32B	$31.16B	-$1.40B	-1.1%
Q4 FY2025	$11.53B	$57.60B	$63.27B	$101.29B	$103.76B	$31.50B	-$2.47B	+0.8%
Q3 FY2025	$9.57B	$43.10B	$50.52B	$87.48B	$90.10B	$31.24B	-$2.62B	+8.9%
Q2 FY2025	$8.14B	$45.51B	$54.86B	$89.18B	$91.94B	$28.69B	-$2.77B	+16.8%
Q1 FY2025	$3.63B	$36.23B	$46.53B	$79.75B	$81.13B	$24.57B	-$1.48B	0.0%
Q4 FY2024	$3.63B	$36.23B	$46.53B	$79.75B	$81.13B	$24.57B	-$1.48B	-1.8%
Q3 FY2024	$5.22B	$38.03B	$49.50B	$81.95B	$84.14B	$25.02B	-$2.29B	+2.0%
Q2 FY2024	$4.55B	$37.54B	$52.03B	$82.69B	$85.48B	$24.52B	-$2.89B	-5.7%

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	CapEx	Free cash flow	Net income	Stock comp	Debt issuance	Dividends paid	Buybacks	Change in cash	FCF QoQ
Q1 FY2026				$3.44B
Q3 FY2025				$1.55B
Q2 FY2025				$1.16B
Q1 FY2025				$965.00M
Q4 FY2025				$915.00M
Q3 FY2024				$1.18B
Q4 FY2024				$1.18B
Q2 FY2024				$887.00M

Valuation and returns

Enterprise value: $324.69B; Market data source

Return on equity: 44.30%; Market data source

Return on assets: 7.00%; Market data source

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $113.54B; Annual statement 2026-01-30

Annual income base: $4.59B; Annual statement 2026-01-30

Market cap / annual revenue: 2.98; Live market value divided by annual revenue

Market cap / annual income: 73.77; Live market value divided by annual net income

Annual sales and income multiple

EV / annual revenue2.86

EV / annual operating income39.84

Market capitalization bridge

Market cap / annual revenue2.98

Market cap / annual income73.77

TTM valuation multiples

TTM revenue: $134.00B; Trailing twelve months

TTM EBIT: $10.64B; TTM operating income

Market cap / TTM revenue: 2.53; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 2.42; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Profit multiples

Market cap / TTM net income47.95

EV / TTM EBIT30.52

Revenue, net income, and free cash flow

Revenue$43.84BNet income$3.44B

Q3 FY2024Q3 FY2025Q1 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Growth vs cost pressure

Revenue growth YoY+87.5%

Debt growth YoY+26.8%

Operating expense growth YoY+9.4%

Quarterly margin heatmap

Gross margin

Q3 FY2024

22.00%

Q1 FY2025

21.12%

Q2 FY2025

18.29%

Q3 FY2025

20.71%

Q4 FY2025

20.16%

Q1 FY2026

17.75%

Operating margin

Q3 FY2024

7.06%

Q1 FY2025

4.98%

Q2 FY2025

5.95%

Q3 FY2025

7.85%

Q4 FY2025

9.26%

Q1 FY2026

8.34%

Net margin

Q3 FY2024

4.82%

Q1 FY2025

4.13%

Q2 FY2025

3.91%

Q3 FY2025

5.73%

Q4 FY2025

2.74%

Q1 FY2026

7.84%

Latest quarter expense mix

Cost of revenue$36.06B

Operating expenses$4.13B

R&D$983.00M

SG&A$3.14B

Profit bridge

EBIT$3.66B

Pretax income$3.95B

Tax expense$510.00M

Other income statement lines

Income before tax$3.95B

Income tax expense$510.00M

Balance sheet · Q1 FY2026

Cash & equivalents: $11.58B

Total debt: $31.16B

Net cash: -$19.58B; Net debt position

Total equity: -$1.40B

Balance sheet detail

Current assets: $70.61B

Current liabilities: $74.60B

Inventory: $15.05B

Receivables: $25.85B

Property, plant & equipment: $6.95B

Current debt: $7.55B

Long-term debt: $23.61B

Debt and liquidity

Debt / revenuei0.23

Debt / income4.41

Cash / debt0.37

Quick ratioi0.50

Cash + short-term investments + receivables / current liabilities

Cash generation

Frequently asked

Common questions.

What financial data is available for DELL?

The DELL Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for Dell Technologies Inc. Missing modules and empty line items are omitted.

How current are DELL's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.

What is Dell Technologies Inc's reported net margin?

Dell Technologies Inc's fresh reported margin field is 6.28%. The Financials page shows the supporting period data currently available for DELL.