Income StatementBalance SheetCash FlowSegments
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Dell Technologies Income Statement

Revenue, expenses, and profitability over time

Dell Technologies generated $113.54B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $5.9B with a 5.23% net margin. Gross margin stands at 20.0% and operating margin at 7.18%. Diluted EPS is $8.68, which grew 0.4% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$113.54BGross Profit (TTM)$22.7BOperating Income (TTM)$8.1BNet Income (TTM)$5.9BEps Diluted (TTM)$8.68
Latest FilingQ1 2026
Report Date2026-03-16
Market Cap$191.75B
P/E Ratio32.30
ROE-300.4%

Operating Expenses

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Stock-Based Compensation Expense$165.0M$251.0M$190.0M———
Share-Based Compensation Expense$165.0M$251.0M$190.0M———
Depreciation and amortization$756.0M$867.0M$738.0M———
Stock-based compensation expense$165.0M$251.0M$190.0M———
Research and development$745.0M$716.0M$808.0M$785.0M$752.0M$797.0M
Selling, general and administrative$2.9B$3.4B$3.0B$2.9B$2.7B$2.8B
Share-Based Compensation$165.0M$251.0M$190.0M———
Total operating expenses$3.6B$4.1B$3.8B$3.7B$3.5B$3.6B

Other Income & Expense

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Other Non-Cash Income (Expense)-$48.0M-$16.0M-$174.0M———
Cash Paid for Interest$326.0M$326.0M$338.5M$338.5M$338.5M$338.5M
Other non-cash income (expense)-$48.0M-$16.0M-$174.0M———
Change in Accounts Payable——$4.5B———
Other Non-Cash Income (Expense)-$48.0M-$16.0M-$174.0M———
Other income (expense), net-$276.0M-$596.0M-$82.0M-$333.0M-$178.0M-$293.0M
Other Non-cash Income (Expense)-$48.0M-$16.0M-$174.0M———
Other Non-Cash Income (Expense)-$48.0M-$16.0M-$174.0M———

Other

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Capital Expenditures$669.0M$740.0M$568.0M———
Change in Accounts Receivable—$31.0M-$691.0M———
Change in Deferred Revenue-$1.1B-$974.0M-$230.0M———
Tax Withholding for Share-Based Payments$22.0M$198.0M$352.0M———
Interest Paid, Net$326.0M$326.0M$338.5M$338.5M$338.5M$338.5M
Deferred and other income taxes—-$193.0M-$256.0M———
Income taxes paid$138.8M$138.8M$315.3M$315.3M$315.3M$315.3M
Accounts payable——$4.5B———
Increase (Decrease) in Accounts Receivable—$31.0M-$691.0M———
Increase (decrease) in contract liabilities and current deferred income-$1.1B-$974.0M-$230.0M———
Increase (Decrease) in Finance Receivables$1.1B—-$23.0M———
Increase (Decrease) in Inventories—$3.1B$734.0M———
Interest Paid, Excluding Capitalized Interest, Operating Activity$326.0M$326.0M$338.5M$338.5M$338.5M$338.5M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$857.0M-$6.4B$1.2B———
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$617.0M-$855.0M-$88.0M———
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.2B—$2.8B———
Other Noncash Income (Expense)-$48.0M-$16.0M-$174.0M———
Payment for (Proceeds from) Other Investing Activity-$27.0M-$120.0M-$13.0M———
Payments for Repurchase of Common Stock$1.2B—$2.0B———
Payment, Tax Withholding, Share-Based Payment Arrangement$22.0M$198.0M$352.0M———
Payments to Acquire Investments$46.0M—$97.0M———
Payments to Acquire Property, Plant, and Equipment$669.0M$740.0M$568.0M———
Proceeds from Issuance of Common Stock$4.0M—$1.3M$1.3M$1.3M$1.3M
Debt issued (Note 13)$6.5B—$6.3B———
Financing — other-$52.0M—-$33.0M———
Proceeds from disposition of marketable securities and other investments$71.0M$252.0M$31.0M———
Repayments of Long-Term Debt$4.0B$3.2B$2.3B———
Stock-based compensation$165.0M$251.0M$190.0M———

Earnings Per Share

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Basic earnings per share$1.67$2.19$1.39$1.72$2.31$3.37
Diluted earnings per share$1.64$2.15$1.37$1.70$2.28$3.33

Operating Income

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Gross profit$5.4B$5.7B$4.9B$5.4B$5.6B$6.7B
Operating income$1.7B$2.2B$1.2B$1.8B$2.1B$3.1B

Income Before Tax

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Income before income taxes$1.4B$584.0M$1.1B$1.4B$1.9B$2.8B

Tax

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Income tax expense$275.0M$440.0M$118.0M$276.0M$393.0M$540.0M
Deferred Income Tax Expense—-$193.0M-$256.0M———
Deferred and Other Income Taxes—-$193.0M-$256.0M———

Net Income

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Net income$1.2B$1.5B$965.0M$1.2B$1.5B$2.3B

Cost of Revenue

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Total cost of revenue$19.0B$10.1B$18.4B$24.3B$21.4B$26.6B

Revenue

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Total revenue$24.4B$23.9B$23.4B$29.8B$27.0B$33.4B