Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG) segments. The ISG segment provides modern and traditional storage solutions, including all-flash, purpose-built, hyper-converged infrastructure, software-defined storage, and general-purpose and AI-optimized servers. This segment also offers networking products and services comprising wide area network infrastructure, data center and edge networking switches, and cables and optics that help its business customers to transform and modernize their infrastructure and complementing its server and storage solutions; and software, peripherals, and services, including consulting and support, and deployment. The CSG segment provides notebooks, desktops, and workstations and branded peripherals that include displays, docking stations, keyboards, mice, webcam and audio devices, and third-party software and peripherals; and configuration, and extended warranties services. The company is involved in originating, collecting, and servicing customer financing arrangements and offers payment and consumption solutions and services, such utility, subscription, as-a-service, leases, and loans, as well as fixed-term leases and loans. It serves enterprises, governmental agencies and other public institutions, educational institutions, healthcare organizations, small and medium-sized businesses, and consumers. The company was formerly known as Denali Holding Inc. and changed its name to Dell Technologies Inc. in March 2013. Dell Technologies Inc. was founded in 1984 and is headquartered in Round Rock, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $113.5B | $11.9B | $5.9B | $8.6B | -240.3% | 18.8% | 29.3% |
| 2025 | $95.6B | $9.6B | $4.6B | $1.9B | -309.9% | 8.1% | 35.5% |
| 2024 | $88.4B | $8.9B | $3.4B | $5.9B | -152.1% | -13.6% | 38.7% |
| 2023 | $102.3B | $7.7B | $2.4B | $562M | -78.2% | - | - |
| 2022 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 102,301 | 88,425 | 95,567 | 113,538 |
| Cost Of Revenue | - | 79,615 | 67,356 | 74,317 | 90,831 |
| Gross Profit | - | 22,686 | 21,069 | 21,250 | 22,707 |
| Operating Expense | - | 16,915 | 15,136 | 14,594 | 14,261 |
| Operating Income | - | 5,771 | 5,933 | 6,656 | 8,446 |
| EBITDA | - | 7,662 | 8,891 | 9,585 | 11,852 |
| EBIT | - | 4,506 | 5,588 | 6,462 | 8,823 |
| Pretax Income | - | 3,225 | 4,087 | 5,048 | 7,263 |
| Tax Provision | - | 803 | 715 | 472 | 1,327 |
| Net Income | - | 2,442 | 3,388 | 4,592 | 5,936 |
| Net Income Common Stockholders | - | 2,442 | 3,388 | 4,592 | 5,936 |
| Total Expenses | - | 96,530 | 82,492 | 88,911 | 105,092 |
| Interest Expense | - | 1,281 | 1,501 | 1,414 | 1,560 |
| Interest Income | - | 100 | 329 | 160 | 279 |
| Research And Development | - | 2,779 | 2,801 | 3,061 | 3,142 |
| Selling General And Administration | - | 14,136 | 12,335 | 11,533 | 11,119 |
| Normalized EBITDA | - | 9,027 | 9,565 | 9,939 | 11,754 |
| Normalized Income | - | 3,467.12 | 3,944.05 | 4,912.90 | 5,855.91 |
| Market Cap | 140,499 | 140,499 | 140,499 | 140,499 | 140,499 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Dell Technologies Inc.this co. | DELL | $143.2B | 23.67β discount | -56.88 | -240.3% | 13.54 |
| Salesforce, Inc. | CRM | $169.2B | 19.54 | 2.46 | 12.6% | 12.40 |
| QUALCOMM Incorporated | QCOM | $163.5B | 28.69 | 7.50 | 26.1% | 11.27 |
| Uber Technologies, Inc. | UBER | $155.6B | 15.28 | 5.68 | 37.2% | 22.70 |
| Corning Incorporated | GLW | $150.1B |
| - |
| - |
| - |
| - |
| - |
| - |
| 94.67 |
| 12.80 |
| 13.5% |
| 42.56 |
| Western Digital Corporation | WDC | $141.6B | 74.22 | 26.01 | 35.0% | 72.61 |
| Marvell Technology, Inc. | MRVL | $141.5B | 53.81 | 10.04 | 18.7% | 32.12 |
| Palo Alto Networks, Inc. | PANW | $118.4B | 127.70 | 18.51 | 14.5% | 73.60 |
| Accenture plc | ACN | $111.5B | 14.30 | 3.52 | 24.6% | 8.97 |
| Peer Median | - | 41.25 | 8.77 | 21.6% | 27.41 | |