Operating Expenses
Total Operating Expenses
Dell Technologies Total Operating Expenses increased by 4.7% to $3.64B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 3.4%, from $3.52B to $3.64B. Over 3 years (FY 2023 to FY 2026), Total Operating Expenses shows a downward trend with a -4.9% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ1 2013
Last reportedQ1 2026
How to read this metric
Rising expenses without a corresponding rise in revenue can indicate operational bloat or aggressive expansion efforts.
Detailed definition
The sum of all costs required to run the business that are not directly tied to production, including R&D and SG&A. It r...
Peer comparison
Investors compare this to revenue to assess the 'operating leverage' of a business model.
Metric ID:
total_operating_expensesHistorical Data
19 periods
| Q1 '21 | Q2 '21 | Q3 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $6.28B | $6.61B | $6.71B | $4.23B | $4.17B | $3.95B | $4.57B | $3.95B | $4.22B | $3.66B | $3.83B | $3.89B | $3.97B | $3.64B | $3.52B | $3.77B | $3.67B | $3.47B | $3.64B |
| QoQ Change | — | +5.3% | +1.5% | -36.9% | -1.5% | -5.4% | +15.8% | -13.5% | +6.9% | -13.3% | +4.5% | +1.6% | +2.1% | -8.3% | -3.3% | +7.2% | -2.6% | -5.4% | +4.7% |
| YoY Change | — | — | — | -32.6% | -37.0% | -41.2% | — | -6.7% | +1.3% | -7.2% | -16.2% | -1.6% | -6.0% | -0.6% | -8.0% | -2.9% | -7.4% | -4.5% | +3.4% |
Range$3.47B – $6.71B
CAGR-11.4%
Avg YoY Growth-11.2%
Median YoY Growth-6.7%
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What is Dell Technologies's total operating expenses?
- Dell Technologies (DELL) reported total operating expenses of $3.64B in Q4 2025.
- How has Dell Technologies's total operating expenses changed year-over-year?
- Dell Technologies's total operating expenses increased by 3.4% year-over-year, from $3.52B to $3.64B.
- What is the long-term trend for Dell Technologies's total operating expenses?
- Over 3 years (2023 to 2026), Dell Technologies's total operating expenses has grown at a -4.9% compound annual growth rate (CAGR), from $16.92B to $14.56B.
- What does total operating expenses mean?
- The total cost of running the day-to-day business, excluding the direct cost of making products.