D

Dell Technologies Inc.

DELL · CIK 0001571996

12 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$113.54B18.8%
FY2026
Net income (FY)
$5.94B29.3%
FY2026
Free cash flow (FY)
$8.55B357.6%
FY2026
Diluted EPS (FY)
$8.6836.1%
FY2026
The story, charted

The shape of the business

FY2015–FY2026 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$50B$100BFY2015 · Revenue $54.14B · Net income −$1.22B · 0001571996-17-000004 · filed 2017-03-31FY15Revenue $54.14BNet income −$1.22B0001571996-17-000004 · filed 2017-03-31FY2016 · Revenue $50.91B · Net income −$1.10B · 0001571996-18-000004 · filed 2018-03-29FY16Revenue $50.91BNet income −$1.10B0001571996-18-000004 · filed 2018-03-29FY2017 · Revenue $61.64B · Net income −$1.67B · 0001571996-18-000004 · filed 2018-03-29FY17Revenue $61.64BNet income −$1.67B0001571996-18-000004 · filed 2018-03-29FY2018 · Revenue $79.04B · Net income −$2.85B · 0001571996-20-000017 · filed 2020-03-27FY18Revenue $79.04BNet income −$2.85B0001571996-20-000017 · filed 2020-03-27FY2019 · Revenue $90.62B · Net income −$2.31B · 0001571996-21-000007 · filed 2021-03-26FY19Revenue $90.62BNet income −$2.31B0001571996-21-000007 · filed 2021-03-26FY2020 · Revenue $84.81B · Net income $4.62B · 0001571996-22-000009 · filed 2022-03-24FY20Revenue $84.81BNet income $4.62B0001571996-22-000009 · filed 2022-03-24FY2021 · Revenue $86.67B · Net income $3.25B · 0001571996-23-000007 · filed 2023-03-30FY21Revenue $86.67BNet income $3.25B0001571996-23-000007 · filed 2023-03-30FY2022 · Revenue $101.20B · Net income $5.56B · 0001571996-24-000036 · filed 2024-03-25FY22Revenue $101.20BNet income $5.56B0001571996-24-000036 · filed 2024-03-25FY2023 · Revenue $102.30B · Net income $2.44B · 0001571996-25-000034 · filed 2025-03-25FY23Revenue $102.30BNet income $2.44B0001571996-25-000034 · filed 2025-03-25FY2024 · Revenue $88.42B · Net income $3.39B · 0001571996-26-000008 · filed 2026-03-16FY24Revenue $88.42BNet income $3.39B0001571996-26-000008 · filed 2026-03-16FY2025 · Revenue $95.57B · Net income $4.59B · 0001571996-26-000008 · filed 2026-03-16FY25Revenue $95.57BNet income $4.59B0001571996-26-000008 · filed 2026-03-16FY2026 · Revenue $113.54B · Net income $5.94B · 0001571996-26-000008 · filed 2026-03-16FY26Revenue $113.54BNet income $5.94B0001571996-26-000008 · filed 2026-03-16FY26Revenue $113.54BNet income $5.94B0001571996-26-000008 · filed 2026-03-16FY16FY18FY20FY22FY24FY26

revenue 2.1× since FY2015 · net margin -2.3% → 5.2%

MarginsNet marginFCF margin
0%5%10%FY2015 · Net margin -2.3% · FCF margin 3.8%FY15Net margin -2.3%FCF margin 3.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin -2.2% · FCF margin 3.3%FY16Net margin -2.2%FCF margin 3.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin -2.7% · FCF margin 2.6%FY17Net margin -2.7%FCF margin 2.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin -3.6% · FCF margin 7.1%FY18Net margin -3.6%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin -2.5% · FCF margin 6.1%FY19Net margin -2.5%FCF margin 6.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 5.4% · FCF margin 7.9%FY20Net margin 5.4%FCF margin 7.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 3.7% · FCF margin 10.8%FY21Net margin 3.7%FCF margin 10.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 5.5% · FCF margin 7.4%FY22Net margin 5.5%FCF margin 7.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 2.4% · FCF margin 0.5%FY23Net margin 2.4%FCF margin 0.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 3.8% · FCF margin 6.7%FY24Net margin 3.8%FCF margin 6.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 4.8% · FCF margin 2.0%FY25Net margin 4.8%FCF margin 2.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2026 · Net margin 5.2% · FCF margin 7.5%FY26Net margin 5.2%FCF margin 7.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY26Net margin 5.2%FCF margin 7.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’17’20’23’26

FY2026: net 5.2% · free cash flow 7.5% of revenue

Cash engineOperating cash flowFree cash flow
$0$5B$10BFY2015 · OCF $2.55B · FCF $2.07B · 0001571996-17-000004 · filed 2017-03-31FY15OCF $2.55BFCF $2.07B0001571996-17-000004 · filed 2017-03-31FY2016 · OCF $2.16B · FCF $1.68B · 0001571996-18-000004 · filed 2018-03-29FY16OCF $2.16BFCF $1.68B0001571996-18-000004 · filed 2018-03-29FY2017 · OCF $2.31B · FCF $1.61B · 0001571996-18-000004 · filed 2018-03-29FY17OCF $2.31BFCF $1.61B0001571996-18-000004 · filed 2018-03-29FY2018 · OCF $6.84B · FCF $5.63B · 0001571996-20-000017 · filed 2020-03-27FY18OCF $6.84BFCF $5.63B0001571996-20-000017 · filed 2020-03-27FY2019 · OCF $6.99B · FCF $5.49B · 0001571996-21-000007 · filed 2021-03-26FY19OCF $6.99BFCF $5.49B0001571996-21-000007 · filed 2021-03-26FY2020 · OCF $9.29B · FCF $6.71B · 0001571996-22-000009 · filed 2022-03-24FY20OCF $9.29BFCF $6.71B0001571996-22-000009 · filed 2022-03-24FY2021 · OCF $11.41B · FCF $9.32B · 0001571996-23-000007 · filed 2023-03-30FY21OCF $11.41BFCF $9.32B0001571996-23-000007 · filed 2023-03-30FY2022 · OCF $10.31B · FCF $7.51B · 0001571996-24-000036 · filed 2024-03-25FY22OCF $10.31BFCF $7.51B0001571996-24-000036 · filed 2024-03-25FY2023 · OCF $3.56B · FCF $562.0M · 0001571996-25-000034 · filed 2025-03-25FY23OCF $3.56BFCF $562.0M0001571996-25-000034 · filed 2025-03-25FY2024 · OCF $8.68B · FCF $5.92B · 0001571996-26-000008 · filed 2026-03-16FY24OCF $8.68BFCF $5.92B0001571996-26-000008 · filed 2026-03-16FY2025 · OCF $4.52B · FCF $1.87B · 0001571996-26-000008 · filed 2026-03-16FY25OCF $4.52BFCF $1.87B0001571996-26-000008 · filed 2026-03-16FY2026 · OCF $11.19B · FCF $8.55B · 0001571996-26-000008 · filed 2026-03-16FY26OCF $11.19BFCF $8.55B0001571996-26-000008 · filed 2026-03-16FY26OCF $11.19BFCF $8.55B0001571996-26-000008 · filed 2026-03-16’17’20’23’26

FY2026: $11.19B operating cash − $2.63B capex = $8.55B free cash flow

Returns on capitalReturn on equityReturn on assets
-200%0%FY2016 · ROE -75.3% · ROA -2.4%FY16ROE -75.3%ROA -2.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE -12.6% · ROA -1.4%FY17ROE -12.6%ROA -1.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE -30.5% · ROA -2.3%FY18ROE -30.5%ROA -2.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 40.1% · ROA -2.1%FY19ROE 40.1%ROA -2.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE -293.3% · ROA 3.9%FY20ROE -293.3%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 131.1% · ROA 2.6%FY21ROE 131.1%ROA 2.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE -330.1% · ROA 6.0%FY22ROE -330.1%ROA 6.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE -78.2% · ROA 2.7%FY23ROE -78.2%ROA 2.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE -152.1% · ROA 4.1%FY24ROE -152.1%ROA 4.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE -309.9% · ROA 5.8%FY25ROE -309.9%ROA 5.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2026 · ROE -240.3% · ROA 5.9%FY26ROE -240.3%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assetsFY26ROE -240.3%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assets’17’20’23’26

return on equity -75% (FY2016) → -240% (FY2026) · on assets 5.9%

Balance sheetLiabilitiesEquity
$0$50B$100BFY2016 · Liabilities $43.55B · Equity $1.47BFY16Liabilities $43.55BEquity $1.47B0001571996-17-000004 · filed 2017-03-31FY2017 · Liabilities $98.97B · Equity $13.24BFY17Liabilities $98.97BEquity $13.24B0001571996-18-000004 · filed 2018-03-29FY2018 · Liabilities $106.91B · Equity $9.33BFY18Liabilities $106.91BEquity $9.33B0001571996-18-000004 · filed 2018-03-29FY2019 · Liabilities $111.57B · Equity −$5.76BFY19Liabilities $111.57BEquity −$5.76B0001571996-20-000017 · filed 2020-03-27FY2020 · Liabilities $115.08B · Equity −$1.57BFY20Liabilities $115.08BEquity −$1.57B0001571996-21-000007 · filed 2021-03-26FY2021 · Liabilities $115.39B · Equity $2.48BFY21Liabilities $115.39BEquity $2.48B0001571996-22-000009 · filed 2022-03-24FY2022 · Liabilities $94.31B · Equity −$1.69BFY22Liabilities $94.31BEquity −$1.69B0001571996-23-000007 · filed 2023-03-30FY2023 · Liabilities $92.64B · Equity −$3.12BFY23Liabilities $92.64BEquity −$3.12B0001571996-24-000036 · filed 2024-03-25FY2024 · Liabilities $84.26B · Equity −$2.23BFY24Liabilities $84.26BEquity −$2.23B0001571996-25-000034 · filed 2025-03-25FY2025 · Liabilities $81.13B · Equity −$1.48BFY25Liabilities $81.13BEquity −$1.48B0001571996-26-000008 · filed 2026-03-16FY2026 · Liabilities $103.76B · Equity −$2.47BFY26Liabilities $103.76BEquity −$2.47B0001571996-26-000008 · filed 2026-03-16FY26Liabilities $103.76BEquity −$2.47B0001571996-26-000008 · filed 2026-03-16’17’20’23’26

FY2026: $101.29B assets · $103.76B liabilities · −$2.47B equity

The receipts