Dell Technologies Inc.

Listed Company

DELLCIK 0001571996NYSELarge AcceleratedElectronic ComputersDelawareFY ends Jan 29

Period

FY 2026

Revenue

$113.54B

Net Income

$5.94B

Total Assets

$101.29B

Equity

$-2.47B

Shares Out

652.00M

Op. Cash Flow

$11.19B

Business

Dell Technologies Inc. is a global technology company that provides broad, integrated IT solutions and services for the data and artificial intelligence era. It designs, develops, manufactures, markets, sells, and supports products and services ranging from client devices and peripherals to servers, networking, storage, software, and consulting, deployment, configuration, support, and financing solutions. The company operates through two reportable segments—Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG)—with additional resale and cybersecurity offerings reported within Corporate and other. Dell sells directly to customers and through channel partners, distributors, resellers, retailers, and online channels across the Americas, EMEA, APJ, and other global markets.

Summary from filing dated 2025-03-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Total net revenue	113,538	95,567	88,425	102,301	101,197
Total cost of net revenue	90,831	74,317	67,356	79,615	79,306
Gross margin	22,707	21,250	21,069	22,686	21,891
Selling, general, and administrative	11,416	11,952	12,857	14,136	14,655
Research and development	3,142	3,061	2,801	2,779	2,577
Total operating expenses	14,558	15,013	15,658	16,915	17,232
Operating income	8,149	6,237	5,411	5,771	4,659
Interest and other, net	−886	−1,189	−1,324	−2,546	1,264
Income before income taxes	7,263	5,048	4,087	3,225	5,923
Income tax expense	1,327	472	715	803	981
Net income	5,936	4,576	3,372	2,422	5,707
Less: Net loss attributable to non-controlling interests	0	−16	−16	−20	—
Net income attributable to Dell Technologies Inc.	5,936	4,592	3,388	2,442	5,563
Basic (in dollars per share)	8.79	6.51	4.71	3.33	—
Diluted (in dollars per share)	8.68	6.38	4.6	3.24	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Cash and cash equivalents	11,528	3,633	7,366	8,607	9,477
Accounts receivable, net of allowance of $77 and $63	17,585	10,298	9,343	12,482	12,912
Short-term financing receivables, net of allowance of $121 and $78	8,458	5,304	4,643	5,281	5,089
Inventories	10,437	6,716	3,622	4,776	5,898
Other current assets	9,594	9,610	11,010	10,827	11,526
Current assets held for sale	0	668	0	—	0
Total current assets	57,602	36,229	35,984	42,351	45,033
Property, plant, and equipment, net	6,676	6,336	6,432	6,209	5,415
Long-term investments	1,730	1,496	1,316	1,518	1,839
Long-term financing receivables, net of allowance of $92 and $75	5,822	5,927	5,877	5,638	5,522
Goodwill	19,547	19,120	19,700	19,676	19,770
Intangible assets, net	4,533	4,988	5,701	6,468	7,461
Other non-current assets	5,376	5,650	7,116	7,311	6,985
Total assets	101,286	79,746	82,126	89,611	92,735
Short-term debt	7,990	5,204	6,982	6,573	5,823
Accounts payable	33,630	20,832	19,226	18,598	27,143
Accrued and other	8,315	6,597	6,828	8,874	7,578
Short-term deferred revenue	13,334	13,673	15,318	15,542	14,261
Current liabilities held for sale	0	221	0	—	0
Total current liabilities	63,269	46,527	48,354	51,654	56,219
Long-term debt	23,513	19,363	19,012	23,015	21,131
Long-term deferred revenue	13,596	12,292	13,827	14,744	13,312
Other non-current liabilities	3,378	2,951	3,065	3,223	3,653
Total liabilities	103,756	81,133	84,258	92,636	94,315
Commitments and contingencies (Note 11)	—	—	—	—	—
Common stock and capital in excess of $0.01 par value	9,457	9,119	8,926	8,424	7,898
Treasury stock at cost	−14,533	−8,502	−5,900	−3,813	−964
Retained earnings (accumulated deficit)	3,325	−1,160	−4,453	−6,732	−8,188
Accumulated other comprehensive loss	−719	−939	−800	−1,001	−431
Total Dell Technologies Inc. stockholders equity (deficit)	−2,470	−1,482	−2,227	−3,122	−1,685
Non-controlling interests	0	95	95	97	105
Total stockholders equity (deficit)	−2,470	−1,387	−2,132	−3,025	−1,580
Total liabilities and stockholders equity	101,286	79,746	82,126	89,611	92,735

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Depreciation and amortization	3,029	3,123	3,303	3,156	4,551
Stock-based compensation expense	723	785	878	931	1,622
Deferred income taxes	−60	−208	−91	−717	−365
Other, net	714	453	609	961	−3,130
Accounts receivable	−7,022	−1,295	2,977	113	−2,193
Financing receivables	−2,740	−951	309	−461	−241
Inventories	−3,987	−3,515	975	875	−2,514
Other assets and liabilities	1,966	2,347	−1,484	973	−1,948
Due from/to related party, net	0	0	−652	649	479
Accounts payable	12,665	1,703	−498	−8,546	5,742
Deferred revenue	−39	−2,497	−1,022	3,209	2,597
Change in cash from operating activities	11,185	4,521	8,676	3,565	10,307
Purchases of investments	−197	−125	−172	−108	−414
Maturities and sales of investments	246	382	226	116	513
Capital expenditures and capitalized software development costs	−2,633	−2,652	−2,756	−3,003	−2,796
Acquisition of businesses and assets, net	−84	0	−126	−70	−16
Divestitures of businesses and assets, net	533	0	0	0	3,957
Other	80	180	45	41	62
Change in cash from investing activities	−2,055	−2,215	−2,783	−3,024	1,306
Proceeds from the issuance of common stock	5	1	10	—	—
Repurchases of common stock	−6,014	−2,588	−2,080	−2,883	−1,496
Repurchases of common stock for employee tax withholdings	−390	−577	−372	−398	−342
Payments of dividends and dividend equivalents	−1,459	−1,275	−1,072	−964	0
Proceeds from debt	15,004	9,258	7,775	12,479	20,425
Repayments of debt	−8,522	−10,570	−11,246	−9,825	−26,723
Debt-related costs and other, net	−88	−64	−109	−39	−1,515
Change in cash from financing activities	−1,464	−5,815	−7,094	−1,625	−16,609
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	221	−179	−186	−104	—
Change in cash, cash equivalents, and restricted cash	7,887	−3,688	−1,387	−1,188	—
Income tax paid	1,261	555	1,379	1,208	1,257
Interest paid	1,354	1,304	1,438	1,169	1,825

Filings

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