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Dell Technologies DELL Products — Cost of Revenue

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Other financials

Income statement

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Revenue$43.8B+87.5%
Gross profit$7.8B+57.6%
Operating income$3.7B+214%
Net income$3.4B+256%
EPS (diluted)$5.24+282%

Balance sheet

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Cash & equivalents$11.6B+50.4%
Total debt$31.9B+7.9%
Total equity-$1.4B+53.6%
Total assets$114.91B+32.3%

Cash flow

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Operating cash flow$4.1B+46.0%
CapEx$963.0M+69.5%
Free cash flow$3.1B+39.9%

Valuation

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Market cap$298.97B+245%
Enterprise value$319.3B+196%
P/E35.6×+17.6×
P/S2.2×+1.4×

Profitability

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Gross margin19.1%-3.0pp
Operating margin7.9%+1.3pp
Net margin6.3%+1.6pp
FCF margin7%+3.1pp

Returns & leverage

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Return on equity138%
Debt / equity5.6×
Current ratio0.9×+0.1×

Where this comes from

Reported directly by Dell Technologies in its filing.

Tagged under the XBRL concept us-gaap:CostOfRevenue.

The source filing: Dell Technologies’s 10-Q, filed June 9, 2026.

Filed
Jun 9, 2026, 4:11 PM EDT
Fiscal quarter
Q1 FY2027
Calendar quarter
Q2 2026
Accession
0001571996-26-000030
Line itemThree Months Ended / May 1, 2026May 2, 2025
Services5,7375,779
Total net revenue43,84223,378
Cost of net revenue:
Products32,85215,116
Services3,2083,325
Total cost of net revenue36,06018,441
Gross margin7,7824,937
Operating expenses:

ITEM 1 — FINANCIAL STATEMENTS (UNAUDITED)

FAQ

What is Dell Technologies's products — cost of revenue?
Dell Technologies (DELL) reported products — cost of revenue of $32.85B in Q1 2026.
How has Dell Technologies's products — cost of revenue changed year-over-year?
Dell Technologies's products — cost of revenue increased by 117.3% year-over-year, from $15.12B to $32.85B.
What is the long-term trend for Dell Technologies's products — cost of revenue?
Over 4 years (2022 to 2026), Dell Technologies's products — cost of revenue has grown at a 3.8% compound annual growth rate (CAGR), from $67.22B to $78.06B.
What does products — cost of revenue mean?
This metric captures the direct costs incurred to manufacture and deliver the hardware products sold by the segment. It includes expenses such as raw materials, component procurement, assembly labor, and freight costs. Monitoring this metric is essential for evaluating the direct production efficiency and supply chain management of the hardware business.

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