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Dell Technologies DELL Services — 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
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:
Selling, general, and administrative3,1432,964

ITEM 1 — FINANCIAL STATEMENTS (UNAUDITED)

FAQ

What is Dell Technologies's services — cost of revenue?
Dell Technologies (DELL) reported services — cost of revenue of $3.21B in Q1 2026.
How has Dell Technologies's services — cost of revenue changed year-over-year?
Dell Technologies's services — cost of revenue decreased by 3.5% year-over-year, from $3.33B to $3.21B.
What is the long-term trend for Dell Technologies's services — cost of revenue?
Over 4 years (2022 to 2026), Dell Technologies's services — cost of revenue has grown at a 1.4% compound annual growth rate (CAGR), from $12.08B to $12.77B.
What does services — cost of revenue mean?
This metric captures the direct costs incurred to deliver support, maintenance, and professional services, including personnel costs, third-party service provider fees, and parts replacement expenses. It is a key indicator of the operational efficiency and profitability of the services business unit. Monitoring this helps evaluate the scalability of the service delivery model relative to revenue growth.

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