Dell Technologies Inc. (DELL) income statement
NYSE · Technology · Computer Hardware · 97,000 employees · CEO Michael Saul Dell
- Price
- $424.16 -10.80%
- Market cap
- $270B
- Enterprise value
- $293B
- Last report
- Q2 '27 filed 2026-09-08
- Next report
- 2026-11-24 EPS est. $6.56
Dell Technologies Inc. (DELL) reported revenue of $47B for Q2 '27 (+57.7% year on year), operating income of $5.47B (11.6% of revenue) and net income of $4.13B. Over the last four quarters revenue was $151B.
Income statement
| Income statement | Trend | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.3B | $22.3B | $22.2B | $25B | $24.4B | $23.8B | $23.4B | $29.8B | $27B | $33.4B | $43.8B | $47B | |
| Cost of revenue | $17.1B | $17B | $17.4B | $19.7B | $19.1B | $18.3B | $18.4B | $24.3B | $21.4B | $26.6B | $36.1B | $37.1B | |
| Gross profit | $5.15B | $5.32B | $4.85B | $5.31B | $5.31B | $5.49B | $4.94B | $5.45B | $5.59B | $6.73B | $7.78B | $9.83B | |
| Research & development | $692M | $716M | $763M | $780M | $745M | $773M | $808M | $785M | $752M | $797M | $983M | $1.11B | |
| Sales & marketing | $0 | $900M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| General & administrative | $0 | $2.05B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other operating expenses | $0 | $157M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Operating expenses | $3.66B | $3.83B | $3.89B | $3.97B | $3.64B | $3.33B | $3.71B | $3.67B | $3.43B | $3.59B | $4.13B | $4.36B | |
| Operating income | $1.49B | $1.49B | $965M | $1.34B | $1.67B | $2.16B | $1.23B | $1.77B | $2.17B | $3.15B | $3.66B | $5.47B | |
| Interest income | $88M | $92M | $54M | $42M | $35M | $33M | $31M | $77M | $82M | $96M | $81M | $0 | |
| Interest expense | $372M | $374M | $359M | $387M | $328M | $344M | $361M | $399M | $396M | $411M | $391M | $254M | |
| Other non-operating income (gains on investments, FX ...) | -$66M | -$170M | $14M | -$34M | -$52M | -$156M | -$212M | -$66M | -$169M | -$65M | -$683M | $0 | |
| Total non-operating income | -$306M | -$203M | -$373M | -$353M | -$276M | -$187M | -$149M | -$333M | -$227M | -$346M | $292M | -$341M | |
| Income before tax | $1.18B | $1.29B | $592M | $989M | $1.39B | $1.97B | $1.08B | $1.44B | $1.94B | $2.8B | $3.95B | $5.13B | |
| Income tax | $176M | $130M | -$400M | $148M | $265M | $440M | $118M | $276M | $393M | $540M | $510M | $998M | |
| Net income | $1.01B | $1.16B | $997M | $846M | $1.13B | $1.53B | $965M | $1.16B | $1.55B | $2.26B | $3.44B | $4.13B | |
| EPS (basic) | $1.39 | $1.64 | $1.41 | $1.19 | $1.61 | $2.20 | $1.39 | $1.72 | $2.31 | $3.47 | $5.30 | $6.41 | |
| EPS (diluted) | $1.36 | $1.64 | $1.37 | $1.17 | $1.58 | $2.15 | $1.37 | $1.70 | $2.28 | $3.37 | $5.24 | $6.34 | |
| Shares (basic, weighted) | 722M | 713M | 708M | 708M | 708M | 696M | 692M | 692M | 671M | 652M | 649M | 645M | |
| Shares (diluted, weighted) | 740M | 730M | 727M | 724M | 724M | 713M | 702M | 702M | 680M | 670M | 656M | 652M | |
| Depreciation & amortization | $822M | $841M | $800M | $784M | $765M | $774M | $738M | $762M | $756M | $773M | $758M | $754M | |
| EBITDA | $2.37B | $2.5B | $1.75B | $2.16B | $2.49B | $3.09B | $2.18B | $2.6B | $3.09B | $3.98B | $5.1B | $6.23B |
| Income statement | Trend | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $62.2B | $79B | $90.6B | $84.8B | $86.7B | $101B | $102B | $88.4B | $95.6B | $114B | |
| Cost of revenue | $48.5B | $58.5B | $65.6B | $64.2B | $66.5B | $79.3B | $79.6B | $67.4B | $74.3B | $90.8B | |
| Gross profit | $13.6B | $20.5B | $25.1B | $20.6B | $20.1B | $21.9B | $22.7B | $21.1B | $21.3B | $22.7B | |
| Research & development | $2.64B | $4.38B | $4.6B | $2.45B | $2.46B | $2.58B | $2.78B | $2.8B | $3.06B | $3.14B | |
| Sales & marketing | $0 | $0 | $0 | $0 | $1B | $1.3B | $1.1B | $900M | $0 | $0 | |
| General & administrative | $0 | $0 | $0 | $0 | $13B | $13.3B | $12.7B | $11.4B | $0 | $0 | |
| Other operating expenses | $0 | $0 | $0 | $0 | $0 | $98M | $363M | $522M | $0 | $0 | |
| Operating expenses | $16B | $23B | $25.2B | $18.3B | $16.5B | $17.2B | $16.9B | $15.7B | $15B | $14.3B | |
| Operating income | -$2.39B | -$2.42B | -$191M | $2.37B | $3.69B | $4.66B | $5.77B | $5.41B | $6.24B | $8.45B | |
| Interest income | $102M | $207M | $313M | $99M | $148M | $62M | $100M | $329M | $160M | $279M | |
| Interest expense | $1.8B | $2.52B | $2.62B | $2.4B | $2.05B | $1.54B | $1.28B | $1.5B | $1.41B | $1.56B | |
| Other non-operating income (gains on investments, FX ...) | -$43M | -$166M | -$449M | $21M | -$713M | -$2.81B | $1.27B | -$177M | -$225M | -$377M | |
| Total non-operating income | -$2.1B | -$2.35B | -$2.17B | -$2.42B | -$1.34B | $1.26B | -$2.55B | -$1.32B | -$1.19B | -$1.18B | |
| Income before tax | -$4.49B | -$4.77B | -$2.36B | -$51M | $2.35B | $5.92B | $3.23B | $4.09B | $5.05B | $7.26B | |
| Income tax | -$1.42B | -$1.84B | -$180M | -$572M | $101M | $981M | $803M | $715M | $472M | $1.33B | |
| Net income | -$1.17B | -$2.85B | -$2.31B | $4.62B | $3.25B | $5.56B | $2.44B | $3.39B | $4.59B | $5.94B | |
| EPS (basic) | -$1.62 | -$3.70 | -$2.96 | $6.38 | $4.37 | $7.30 | $3.33 | $4.71 | $6.51 | $8.96 | |
| EPS (diluted) | -$1.62 | -$3.70 | -$2.96 | $6.03 | $4.22 | $7.02 | $3.24 | $4.60 | $6.38 | $8.68 | |
| Shares (basic, weighted) | 718M | 718M | 719M | 724M | 744M | 762M | 734M | 736M | 696M | 663M | |
| Shares (diluted, weighted) | 718M | 718M | 719M | 751M | 767M | 791M | 753M | 736M | 724M | 684M | |
| Depreciation & amortization | $4.94B | $8.63B | $7.75B | $6.14B | $5.39B | $4.55B | $3.16B | $3.3B | $3.12B | $3.03B | |
| EBITDA | $2.59B | $6.38B | $8B | $8.49B | $9.79B | $12B | $7.66B | $8.89B | $9.59B | $11.9B |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-07-31, 10-Q 2026-05-01, 10-K 2026-01-30, 10-Q 2025-10-31, 10-Q 2025-08-01, 10-Q 2025-05-02, 10-K 2025-01-31, 10-Q 2024-11-01, 10-Q 2024-08-02
Data as of 2026-11-01