Dell Technologies Inc
DELL
Dell Technologies Inc AI Insights
Informational only. Not investment advice.Snapshot
- Negative equity (-2.8B) with negative working capital (-9.4B) - gets paid 27.5B in payables before delivering, funding operations with supplier float.[Working Capital]
- Asset turnover 1.18x vs industry median 0.58x - 2x capital efficiency drives 5.6% ROA despite thin 4.8% net margin TTM.[Asset Turnover TTM]
- Goodwill 19.3B represents 700% of negative equity - any impairment directly amplifies already negative book value.[Goodwill]
Watch Triggers
- Accounts Payable: Decline >15% from 27.5B — Supplier financing model unwinding would force Dell to fund working capital from debt/equity
- Interest Expense TTM: Rise above 1.8B (>25% increase) — Debt refinancing at higher rates compresses already thin 4.8% net margin
- Gross Margin TTM: Fall below 19% — AI server pricing competition eroding hardware economics
Bull Case
Negative working capital (-9.4B) means Dell collects 27.5B from suppliers before paying - revenue growth directly converts to cash without capital needs.
P/E 21.9x vs industry median 32.4x with 2x asset turnover - valuation discount despite superior capital efficiency.
Bear Case
Total debt 28.7B at 1.4B annual interest with negative equity - no book value cushion if hardware demand cycles down.
Gross margin 21.1% vs industry median 41.6% - commodity hardware business vulnerable to pricing pressure in AI server competition.
Bull vs Bear Balance
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Forward Thesis
AI server demand to drive revenue acceleration while negative working capital amplifies FCF conversion.
- Enterprise AI infrastructure refresh cycle
- Supplier financing model scales with revenue
- 4.9B FCF TTM on 101B revenue = 4.8% yield
Public Strategies Rankings
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DELL Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$81.96B | — | ||
$103.63B | — | ||
18 | — | ||
$104.09B | +10.8% | — | |
$6.79 | +20.7% | — | |
6.84% | +1.1% | — | |
5.01% | +0.6% | — | |
$4.45B | +57.5% | — | |
0.00 | — | ||
Beta 5Y (Monthly) | unknown | — |
DELL Dividend History
2026
$0.52502025
$2.02002024
$1.70502023
$1.44002022
$0.9900DELL Stock Splits
DELL SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
12/09/25 | 10/31/25 | 10-Q | |
09/08/25 | 08/01/25 | 10-Q | |
06/10/25 | 05/02/25 | 10-Q | |
03/25/25 | 01/31/25 | 10-K | |
12/10/24 | 11/01/24 | 10-Q | |
09/10/24 | 08/02/24 | 10-Q | |
06/11/24 | 05/03/24 | 10-Q | |
03/25/24 | 02/02/24 | 10-K | |
12/08/23 | 11/03/23 | 10-Q | |
09/12/23 | 08/04/23 | 10-Q | |
06/12/23 | 05/05/23 | 10-Q | |
03/30/23 | 02/03/23 | 10-K | |
12/05/22 | 10/28/22 | 10-Q | |
09/01/22 | 07/29/22 | 10-Q | |
06/06/22 | 04/29/22 | 10-Q | |
03/24/22 | 01/28/22 | 10-K | |
12/03/21 | 10/29/21 | 10-Q | |
09/03/21 | 07/30/21 | 10-Q | |
06/07/21 | 04/30/21 | 10-Q | |
03/26/21 | 01/29/21 | 10-K | |
12/07/20 | 10/30/20 | 10-Q | |
09/04/20 | 07/31/20 | 10-Q | |
06/08/20 | 05/01/20 | 10-Q | |
03/27/20 | 01/31/20 | 10-K | |
12/09/19 | 11/01/19 | 10-Q | |
09/10/19 | 08/02/19 | 10-Q | |
06/10/19 | 05/03/19 | 10-Q | |
03/29/19 | 02/01/19 | 10-K | |
12/10/18 | 10/31/18 | 10-Q | |
09/11/18 | 07/31/18 | 10-Q | |
06/12/18 | 04/30/18 | 10-Q | |
03/29/18 | 01/31/18 | 8-K | |
12/12/17 | 10/31/17 | 10-Q | |
09/08/17 | 07/31/17 | 10-Q | |
06/09/17 | 04/30/17 | 10-Q | |
03/31/17 | 01/31/17 | 10-K | |
12/09/16 | 10/31/16 | 10-Q | |
09/06/16 | 07/31/16 | 10-Q | |
06/09/17 | 04/30/16 | 10-Q | |
03/29/18 | 01/29/16 | 10-K | -- |
12/09/16 | 10/30/15 | 10-Q | -- |
09/06/16 | 07/31/15 | 10-Q | -- |