Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Dell Technologies

DELL stock analysis · Information Technology · Technology Hardware, Storage & Peripherals

FY 2026-01-30ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$431.46HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$280B

Price × SEC outstanding shares. Shares measured 2026-05-01. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$200.14

Equity cash-flow scenario · SEC outstanding shares at 2026-05-01 · -53.6% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

24.5%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-34.8%

6 industry peers · median 30.8×

How this is calculated ↗
Valuation

Historical multiples

23.9×

3 annual observations · snapshot P/E 47.2× · 97.6% versus history

How this is calculated ↗
Valuation

Free cash flow yield

3.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

34.7%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

27.0%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

2.7%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-5.8%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

8.2%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 11.4B2021-01-29: cfo $11,407,000,000.002021-01-29: capex $2,082,000,000.0020212022-01-28: cfo $10,307,000,000.002022-01-28: capex $2,796,000,000.0020222023-02-03: cfo $3,565,000,000.002023-02-03: capex $3,003,000,000.0020232024-02-02: cfo $8,676,000,000.002024-02-02: capex $2,756,000,000.0020242025-01-31: cfo $4,521,000,000.002025-01-31: capex $2,652,000,000.0020252026-01-30: cfo $11,185,000,000.002026-01-30: capex $2,633,000,000.002026
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$251.04$273.90$298.49
10.0%$183.96$200.14$217.52
12.0%$145.13$157.48$170.72

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2026-01-30113.5B5.9B11.2B2.6B101.3B
2025-01-3195.6B4.6B4.5B2.7B79.7B
2024-02-0288.4B3.4B8.7B2.8B82.1B
2023-02-03102.3B2.4B3.6B3B89.6B
2022-01-28101.2B5.7B10.3B2.8B92.7B
2021-01-2986.7B3.5B11.4B2.1B123.4B
2020-01-3184.8B5.5B9.3B2.6B118.9B
2019-02-0190.6B-2.2B7B1.5B111.8B
2018-02-0279B-2.9B6.8B1.2B124.2B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue113.5BRevenues2026-03-16
netIncome5.9BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-03-16
Parent/common earnings proxy5.9BNetIncomeLossAvailableToCommonStockholdersBasic2026-03-16
cfo11.2BNetCashProvidedByUsedInOperatingActivities2026-03-16
capex2.6BPaymentsToAcquirePropertyPlantAndEquipment2026-03-16
operatingIncome8.1BOperatingIncomeLoss2026-03-16
assets101.3BAssets2026-03-16
equity-2.5BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-03-16
Parent book equity proxy-2.5BStockholdersEquity2026-03-16
debt31.5BLongTermDebt2026-03-16
shortDebtNot reported under a supported tag
cash11.5BCashAndCashEquivalentsAtCarryingValue2026-03-16
shares684MWeightedAverageNumberOfDilutedSharesOutstanding2026-03-16
dividends1.5BPaymentsOfDividendsCommonStock2026-03-16
buybacks6BPaymentsForRepurchaseOfCommonStock2026-03-16
issuance5MProceedsFromIssuanceOfCommonStock2026-03-16