Dell Technologies
What matters nowUpdated 6 h ago
- Dell's latest announcements are product launches: on October 7 it unveiled Windows AI PCs and workstations built with NVIDIA and Microsoft, with the XPS 16 Creator Edition open for pre-order at Best Buy 1, and on October 6 it expanded its AI Data Platform with an agent knowledge layer and storage tools, citing internal tests that were about 3.9 times faster on NVIDIA RTX PRO 4500 Blackwell GPUs 2.
- Silver Lake Partners IV sold about 50,600 Class C shares at $572 to $581 on October 6, and director Egon Durban sold 3,600 shares at about $572.50 3. Silver Lake sold about 50,700 shares at $578 to $591 on September 17 4. Over the last 180 days insiders made 97 sales worth $1.34 billion and no purchases.
- DELL trades at 571.24 (pooled 24/7 venue price), down 0.5% from the previous close of 574.10. Recent large moves were +12.79% on September 11 (z-score 3.15), -5.52% on September 10, +5.13% on September 25 and +4.07% on October 6.
- Trailing twelve-month revenue is $151.2 billion, up 49.0% year on year, and the quarter ended July 31, 2026 grew 58% to $47.0 billion. Gross margin is 19.8%, operating margin 9.4% and free cash flow $8.6 billion. At a $365.6 billion market cap the stock trades at 33.2 times earnings and 22.5 times EV/EBITDA, with net debt of $22.9 billion.
- Next, Q3 fiscal 2027 earnings are estimated for November 24, 2026, against company guidance of $49.0 billion revenue and $6.50 non-GAAP diluted EPS. NVIDIA Vera Rubin production shipments are expected in fall 2026, with Dell named among the first system builders. Polymarket gives an 81.5% chance of no change in Fed rates after the October 2026 meeting.
Dell Technologies (press release) · Oct 7
Dell Technologies (press release) · Oct 6
SEC Form 4 filing (Dell Technologies) · Oct 6
SEC Form 4 filing (Dell Technologies) · Sep 17
Dell Technologies sells servers, storage, networking, PCs and the services that support them to enterprises, governments, service providers and consumers. Its biggest driver is AI infrastructure: AI-optimized servers built with NVIDIA GPUs are sold to enterprises, neoclouds and large AI operators, and their revenue is growing far faster than the rest of the business. Fiscal 2026 (ended January 30, 2026) revenue was $113.5 billion, up 19%. In the quarter ended July 31, 2026, revenue reached $47.0 billion, up 58%, and management raised its fiscal 2027 revenue outlook to $192.0 billion.
How it makes money
Dell makes most of its money by selling hardware: servers, storage arrays, networking gear and PCs, sold direct and through channel partners. Infrastructure Solutions Group (ISG) sells data-center systems to large customers, where AI-optimized servers carry thin-to-moderate margins but large order sizes. Client Solutions Group (CSG) sells laptops and desktops to businesses and consumers, which is high volume with lower growth. Services, support and software sit on top of the hardware and add recurring revenue. Revenue is lumpy when large AI orders are recognized, so traders watch backlog and orders as well as quarterly revenue.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-07-31 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
AI-optimized servers
Largest growth driver; orders and backlog are far above quarterly revenue.
Traditional servers and networking
Revenue is up sharply in fiscal 2027 as general-purpose server demand returned.
Storage
Growing again in fiscal 2027 after a flat fiscal 2026.
Commercial PCs
Commercial client revenue grew 22% in the latest quarter and drives most of the CSG segment.
Latest newsAll news →
Dell unveils Windows AI PCs and workstations built with NVIDIA and Microsoft
Dell launched new Windows PCs and workstations for agentic AI, developed with NVIDIA and Microsoft.
Dell expands AI Data Platform with agent knowledge layer and storage tools
Dell added data orchestration, storage and services to its Dell AI Data Platform so AI agents can work from governed enterprise data.
Silver Lake sells about 50,600 Dell Class C shares at $572 to $581
Silver Lake Partners IV converted 70,397 Class B shares into Class C shares and sold 50,636 Class C shares on October 6, 2026.
Dell launches XPS Googlebook laptop starting at $999 with Gemini features
Dell introduced the XPS Googlebook, a 13-inch laptop built on the Snapdragon X Elite processor, which it calls the first XPS device designed for Gemini Intelligence.
Silver Lake sells about 50,700 Dell Class C shares at $578 to $591
Silver Lake Partners IV converted 70,460 Class B shares into Class C shares and sold 50,688 Class C shares on September 17, 2026.
Dell subsidiaries price $5.0 billion of senior notes due 2029 to 2037
Dell International and EMC Corporation priced $5.0 billion of senior notes on September 9, 2026, in four series.
Products & businesses
AI-optimized servers
Largest growth driver; orders and backlog are far above quarterly revenue.
Traditional servers and networking
Revenue is up sharply in fiscal 2027 as general-purpose server demand returned.
Storage
Growing again in fiscal 2027 after a flat fiscal 2026.
Commercial PCs
Commercial client revenue grew 22% in the latest quarter and drives most of the CSG segment.
Consumer PCs
Small and slow-growing; back to modest growth after a weak fiscal 2026.
AI Factory with NVIDIA
Dell is named among the first system builders for NVIDIA Vera Rubin, with production shipments expected this fall.
Next: Vera Rubin production shipments begin · 2026-09-01
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Infrastructure Solutions Group Servers, networking and storage sold to data centers, cloud providers and enterprises. It includes AI-optimized servers, which are now the largest growth driver, plus traditional servers, networking and storage arrays. ISG carries most of the company's operating profit. | $60.83B | 53.6% | |
| Client Solutions Group Laptops, desktops, workstations, monitors and peripherals sold to businesses (commercial) and consumers. Commercial PCs are the bulk of the segment; consumer PCs are a smaller and slower-growing part. | $50.98B | 44.9% |
Fiscal FY2026 · from the annual report
Valuation & fundamentals
TTM through 2026-07-31 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2027 2026-07-31 | Q1 FY2027 2026-05-01 | Q4 FY2026 2026-01-30 | Q3 FY2026 2025-10-31 | Q2 FY2026 2025-08-01 | Q1 FY2026 2025-05-02 | Q4 FY2025 2025-01-31 | Q3 FY2025 2024-11-01 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $151.20B | $46.97B +58% | $43.84B +88% | $33.38Bd +39% | $27.00B +11% | $29.78B +19% | $23.38B +5% | $23.93B +7% | $24.37B +10% |
| Gross profit | $29.93B | $9.83B +80% | $7.78B +58% | $6.73Bd +19% | $5.59B +4% | $5.45B +2% | $4.94B +2% | $5.68B +6% | $5.36B +3% |
| Operating income | $14.25B | $5.38B +204% | $3.66B +214% | $3.09Bd +43% | $2.12B +23% | $1.77B +27% | $1.17B +21% | $2.16B +40% | $1.72B +12% |
| Net income | $11.38B | $4.13B +255% | $3.44B +256% | $2.26Bd +47% | $1.55B +32% | $1.16B +31% | $965.0M -3% | $1.53B +27% | $1.18B +12% |
| EPS (diluted) | $17.20 | $6.34 +273% | $5.24 +282% | $3.34d +55% | $2.28 +39% | $1.70 +38% | $1.37 +0% | $2.15 +30% | $1.64 +15% |
| Operating cash flow | $12.15B | $2.23Bd -13% | $4.08B +46% | $4.67Bd +699% | $1.17Bd -25% | $2.54Bd +90% | $2.80B +168% | $585.0Md -62% | $1.55Bd |
| Capital expenditure | $3.59B | $1.24Bd +84% | $963.0M +70% | $721.0Md -2% | $669.0Md +5% | $675.0Md -1% | $568.0M -5% | $735.0Md +1% | $639.0Md |
| Share buybacks | $8.52B | $3.80Bd +304% | $1.63B -18% | $1.85Bd +152% | $1.25Bd +191% | $940.0Md +30% | $1.98B +183% | $734.0Md -16% | $429.0Md |
| Cash & equivalents | $11.57B | $11.57B | $11.58B | $11.53B | $9.57B | $8.14B | $7.70B | $3.63B | $5.22B |
| Total debt | $34.47B | $34.47B | $31.16B | $31.50B | $31.24B | $28.69B | $28.78B | $24.57B | $25.02B |
| Shares outstanding | 640.0M | 640.0M | 649.0M | 652.0M | 667.0M | 675.0M | 683.0M | 696.0M | 702.0M |
| Metric | FY2026 2026-01-30 | FY2025 2025-01-31 | FY2024 2024-02-02 | FY2023 2023-02-03 | FY2022 2022-01-28 |
|---|---|---|---|---|---|
| Revenue | $113.54B +19% | $95.57B +8% | $88.42B -14% | $102.30B +1% | $101.20B |
| Cost of revenue | $90.83B +22% | $74.32B +10% | $67.36B -15% | $79.61B +0% | $79.31B |
| Gross profit | $22.71B +7% | $21.25B +1% | $21.07B -7% | $22.69B +4% | $21.89B |
| Research & development | $3.14B +3% | $3.06B +9% | $2.80B +1% | $2.78B +8% | $2.58B |
| Operating income | $8.15B +31% | $6.24B +15% | $5.41B -6% | $5.77B +24% | $4.66B |
| EBIT | $8.15B +31% | $6.24B +15% | $5.41B -6% | $5.77B +24% | $4.66B |
| Depreciation & amortization | $3.03B -3% | $3.12B -5% | $3.30B +5% | $3.16B -31% | $4.55B |
| Interest expense | $1.56B +12% | $1.39B -7% | $1.50B +23% | $1.22B -21% | $1.54B |
| Income tax | $1.33B +181% | $472.0M -34% | $715.0M -11% | $803.0M -18% | $981.0M |
| Net income | $5.94B +29% | $4.59B +36% | $3.39B +39% | $2.44B -56% | $5.56B |
| EPS (diluted) | $8.68 +36% | $6.38 +39% | $4.60 +42% | $3.24 | — |
| Dividends per share | $2.10 +18% | $1.78 +20% | $1.48 +12% | $1.32 | — |
| Diluted shares (weighted) | 684.0M | 720.0M | 736.0M | 753.0M | 791.0M |
| Operating cash flow | $11.19B +147% | $4.52B -48% | $8.68B +143% | $3.56B -65% | $10.31B |
| Capital expenditure | $2.63B -1% | $2.65B -4% | $2.76B -8% | $3.00B +7% | $2.80B |
| Share buybacks | $6.01B +132% | $2.59B +24% | $2.08B -28% | $2.88B +93% | $1.50B |
| Dividends paid | $1.46B +14% | $1.27B +19% | $1.07B +11% | $964.0M | $0 |
| Cash & equivalents | $11.53B | $3.63B | $7.37B | $8.61B | $9.48B |
| Long-term debt (incl. current portion) | $31.50B | $24.57B | $25.99B | $29.59B | $26.95B |
| Total debt | $31.50B | $24.57B | $25.99B | $29.59B | $26.95B |
| Total assets | $101.29B | $79.75B | $82.13B | $89.61B | $92.73B |
| Total liabilities | $103.76B | $81.13B | $84.26B | $92.64B | $94.31B |
| Shareholders' equity | −$2.47B | −$1.48B | −$2.23B | −$3.12B | −$1.69B |
| Shares outstanding | 652.0M | 696.0M | 705.0M | 716.0M | 757.0M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Dell unveils Windows AI PCs and workstations built with NVIDIA and Microsoft
Dell launched new Windows PCs and workstations for agentic AI, developed with NVIDIA and Microsoft.
Dell expands AI Data Platform with agent knowledge layer and storage tools
Dell added data orchestration, storage and services to its Dell AI Data Platform so AI agents can work from governed enterprise data.
Silver Lake sells about 50,600 Dell Class C shares at $572 to $581
Silver Lake Partners IV converted 70,397 Class B shares into Class C shares and sold 50,636 Class C shares on October 6, 2026.
Dell launches XPS Googlebook laptop starting at $999 with Gemini features
Dell introduced the XPS Googlebook, a 13-inch laptop built on the Snapdragon X Elite processor, which it calls the first XPS device designed for Gemini Intelligence.
Silver Lake sells about 50,700 Dell Class C shares at $578 to $591
Silver Lake Partners IV converted 70,460 Class B shares into Class C shares and sold 50,688 Class C shares on September 17, 2026.
Dell subsidiaries price $5.0 billion of senior notes due 2029 to 2037
Dell International and EMC Corporation priced $5.0 billion of senior notes on September 9, 2026, in four series.
Silver Lake sells about 54,700 Dell Class C shares at $516 to $537
Silver Lake entities converted 76,049 Class B shares into Class C shares and sold 54,731 Class C shares in open-market transactions on September 8, 2026.
Dell to join S&P 100 effective before the open on September 21
S&P Dow Jones Indices said Dell Technologies will join the S&P 100 effective before the open on September 21, 2026, alongside Palo Alto Networks, Arista Networks and Sandisk.
Melius lifts Dell target to $735, the Street high, after AI order report
After the fiscal second-quarter report, Melius Research raised its price target on Dell to $735, the highest among analysts tracked by LSEG, Reuters reported.
Dell reports fiscal Q2 2027 results: revenue $46.97B, up 58% from a year earlier
Dell filed a Form 8-K with the SEC on Sep 1, 2026, 4:10 PM ET, reporting an event dated Sep 1, 2026.
Dell declares $0.63 quarterly dividend, payable October 30
Dell's board declared a quarterly cash dividend of $0.63 per share on September 1, 2026.
Dell falls about 4% on results day as investors take profits after big run
Dell shares fell about 4% to $437.81 in midday trading on September 1, the day the company reported results.
Bitdeer signs $4.7 billion Norway AI lease; Dell named technology provider
Bitdeer's Tydal Data Center unit signed a 16-year colocation lease with Volta Tydal, a subsidiary of Volta, for 121 IT megawatts at its Tydal campus in Norway.
Texas A&M research station picks Dell for IGNITE AI and HPC platform
The Texas A&M Engineering Experiment Station selected Dell Technologies to design and build IGNITE, a shared AI and high-performance computing platform for federally sponsored, industry and academic research.
Director Lynn Vojvodich sells 12,022 Dell shares at $421 under a 10b5-1 plan
Director Lynn Vojvodich exercised options on 12,022 Class C shares at $31.14 and sold the same number at $421.00 on June 22, 2026.
Dell signs $6 billion unsecured revolving credit facility, replacing its 2021 credit agreement
On June 10, 2026, Dell and its subsidiaries Dell International and EMC signed a $6 billion unsecured revolving credit agreement with JPMorgan Chase as administrative agent.
Dell launches PowerEdge R9822 and M9822 servers built with NVIDIA Vera CPUs
At Computex in Taipei on June 1, Dell announced two PowerEdge servers built on NVIDIA Vera CPUs: the air-cooled R9822 and the direct liquid-cooled M9822.
NVIDIA says Vera Rubin ramps into full production; shipments start this fall
NVIDIA said Vera Rubin is ramping into full production with hundreds of supply-chain partners, and that production shipments begin this fall.
Dell Q1 FY2027 revenue jumps 88% to $43.8B as AI server revenue rises 757%; outlook raised
Dell reported first-quarter fiscal 2027 revenue of $43.8 billion, up 88%, with AI-optimized server revenue up 757% to $16.1 billion and AI orders of $24.4 billion.
Dell shares climb about 38% in extended trading after first-quarter beat and raised outlook
Dell shares rose about 38% in extended trading on May 28 after the first-quarter report and raised fiscal 2027 outlook.
Dell Technologies World 2026: AI Factory with NVIDIA passes 5,000 customers; PowerRack unveiled
At Dell Technologies World in Las Vegas, Dell said its AI Factory with NVIDIA now has more than 5,000 customers, including 1,000 added in the last quarter.
Dell shares rise about 11% premarket after forecast for AI server revenue to roughly double
Dell shares rose about 11% in premarket trading on February 27, to $135.17, after the company forecast AI-optimized server revenue of about $50 billion in fiscal 2027, up 103%.
Dell raises its cash dividend 20% and adds $10B to its share buyback authorization
Alongside its fourth-quarter results, Dell said it is raising its cash dividend by 20% and increasing its share repurchase authorization by $10 billion.
Dell previews Vera Rubin NVL72 PowerEdge servers and Spectrum-6 switching at CES 2026
At CES 2026 Dell previewed upcoming PowerEdge servers built on NVIDIA Vera Rubin NVL72, which it says deliver 3.6 exaflops of AI performance and 75TB of fast memory per system.
SEC filings
| Oct 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Silver Lake Partners V DE (AIV), L.P. (Director, 10% Owner) — option exercise 38,106 sh, open-market sale 26,539 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Silver Lake Partners IV, L.P. (Director, 10% Owner) — option exercise 70,397 sh, open-market sale 54,236 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Silver Lake Technology Investors IV, L.P. (Director, 10% Owner) — option exercise 1,036 sh, open-market sale 1,035 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Silver Lake Technology Investors V, L.P. (Director, 10% Owner) — option exercise 467 sh, open-market sale 467 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: SL SPV-2, L.P. (Director, 10% Owner) — option exercise 68,576 sh, open-market sale 46,323 sh | sec.gov ↗ |
| Oct 7, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: DORMAN DAVID W (Director) — gift 9,214 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Kennedy David Alan (Chief Financial Officer) — tax withholding 833 sh | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: Radakovich Lynn Vojvodich (Director) — award 419 sh | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: MOLLENKOPF STEVEN M (Director) — award 633 sh | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: Kullman Ellen Jamison (Director) — award 419 sh | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: GREEN WILLIAM D (Director) — award 680 sh | sec.gov ↗ |
| Sep 28, 26 | 4 | Form 4: GRAIN DAVID J (Director) — award 633 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-06 | SL SPV-2, L.P. Director, 10% Owner | Sale | 46.3K | $575.43 | $26.7M |
| 2026-10-06 | Silver Lake Technology Investors V, L.P. Director, 10% Owner | Sale | 467 | $575.44 | $268.7K |
| 2026-10-06 | Silver Lake Technology Investors IV, L.P. Director, 10% Owner | Sale | 1.0K | $575.43 | $595.6K |
| 2026-10-06 | Silver Lake Partners IV, L.P. Director, 10% Owner | Sale | 54.2K | $575.24 | $31.2M |
| 2026-10-06 | Silver Lake Partners V DE (AIV), L.P. Director, 10% Owner | Sale | 26.5K | $575.43 | $15.3M |
| 2026-09-23 | Durban Egon Director | Sale | 1.9K | $548.40 | $1.0M |
| 2026-09-22 | Radakovich Lynn Vojvodich Director | Sale 10b5-1 plan | 2.0K | $565.28 | $1.1M |
| 2026-09-21 | Silver Lake Partners IV, L.P. Director, 10% Owner | Sale | 8.0K | $569.77 | $4.6M |
| 2026-09-17 | Rothberg Richard J General Counsel & Secretary | Sale | 4.0K | $583.36 | $2.3M |
| 2026-09-17 | Kennedy David Alan Chief Financial Officer | Sale | 23.9K | $585.02 | $14.0M |
| 2026-09-17 | Silver Lake Partners V DE (AIV), L.P. Director, 10% Owner | Sale | 26.6K | $585.91 | $15.6M |
| 2026-09-17 | SL SPV-2, L.P. Director, 10% Owner | Sale | 46.3K | $585.91 | $27.1M |
| 2026-09-17 | Silver Lake Partners IV, L.P. Director, 10% Owner | Sale | 52.5K | $585.77 | $30.7M |
| 2026-09-17 | Silver Lake Technology Investors V, L.P. Director, 10% Owner | Sale | 468 | $585.90 | $274.2K |
| 2026-09-17 | Silver Lake Technology Investors IV, L.P. Director, 10% Owner | Sale | 1.0K | $585.92 | $607.0K |
| 2026-09-16 | Silver Lake Partners V DE (AIV), L.P. Director, 10% Owner | Sale | 27.0K | $567.88 | $15.3M |
| 2026-09-16 | Silver Lake Technology Investors V, L.P. Director, 10% Owner | Sale | 475 | $567.89 | $269.7K |
| 2026-09-16 | Silver Lake Technology Investors IV, L.P. Director, 10% Owner | Sale | 1.1K | $567.88 | $598.5K |
| 2026-09-16 | Silver Lake Partners IV, L.P. Director, 10% Owner | Sale | 56.8K | $567.89 | $32.3M |
| 2026-09-16 | SL SPV-2, L.P. Director, 10% Owner | Sale | 47.0K | $567.88 | $26.7M |
| 2026-09-15 | Silver Lake Partners IV, L.P. Director, 10% Owner | Sale | 50.7K | $552.61 | $28.0M |
| 2026-09-15 | Silver Lake Partners IV, L.P. Director, 10% Owner | Sale | 5.5K | $550.10 | $3.0M |
| 2026-09-15 | Silver Lake Partners V DE (AIV), L.P. Director, 10% Owner | Sale | 27.0K | $552.79 | $14.9M |
| 2026-09-15 | SL SPV-2, L.P. Director, 10% Owner | Sale | 47.0K | $552.79 | $26.0M |
| 2026-09-15 | Silver Lake Technology Investors IV, L.P. Director, 10% Owner | Sale | 1.1K | $552.79 | $582.1K |