Dell Technologies Inc. (DELL) Key Metrics
DELL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $287.20B
- Enterprise value
- $372.49B
- P/E (TTM)
- 26.3 10-yr median 12.5
- Forward P/E
- 21.3
- PEG ratio
- 0.65
- Price / sales
- 1.9 10-yr median 0.3
- Price / book
- 4.4 10-yr median 1.8
- EV / EBITDA
- 20.7 10-yr median 8.0
- Dividend yield
- 0.28% $2.52 a year
- Beta
- 1.44
DELL key metrics, FY2017–FY2026
Fiscal year ended January 31, 2026 · U.S. dollarsDELL valuation Price multiples at each fiscal year-end price.
DELL returns How much profit the business earns on the capital it uses.
DELL per-share figures Results divided by the shares outstanding at year-end.
DELL financial health Debt, liquidity and how easily interest is covered.
DELL efficiency & capital use Working capital cycle and where the cash goes.
DELL valuation history
DELL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DELL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DELL cash returned to shareholders
DELL price vs earnings per share
DELL key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $78.26B | $75.01B | $61.00B | $30.59B | $44.94B | $28.33B | $18.56B | $17.70B | $14.45B | $12.69B |
| Enterprise value | $98.24B | $95.94B | $79.63B | $51.57B | $62.41B | $66.29B | $55.04B | $65.29B | $50.19B | $50.63B |
| P/E ratio | 13.2 | 16.3 | 18.0 | 12.5 | 8.1 | 8.7 | 4.0 | — | — | — |
| Price / sales | 0.7 | 0.8 | 0.7 | 0.3 | 0.4 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 |
| Price / book | — | — | — | — | — | — | 2.3 | 69.7 | 1.2 | 0.9 |
| Price / free cash flow | 9.2 | 40.1 | 10.3 | 54.4 | 6.0 | 3.0 | 2.0 | 3.2 | 2.6 | 8.7 |
| Price / operating cash flow | 7.0 | 16.6 | 7.0 | 8.6 | 4.4 | 2.5 | 2.0 | 2.5 | 2.1 | 5.4 |
| EV / sales | 0.9 | 1.0 | 0.9 | 0.5 | 0.6 | 0.8 | 0.6 | 0.7 | 0.6 | 0.8 |
| EV / EBITDA | 8.3 | 10.0 | 9.0 | 5.8 | 5.2 | 6.8 | 6.5 | 8.2 | 7.9 | 19.5 |
| EV / free cash flow | 11.5 | 51.3 | 13.5 | 91.8 | 8.3 | 7.1 | 5.9 | 11.9 | 8.9 | 34.7 |
| Earnings yield | 7.6% | 6.1% | 5.6% | 8.0% | 12.4% | 11.5% | 24.9% | −13.1% | −19.7% | −9.2% |
| Free cash flow yield | 10.9% | 2.5% | 9.7% | 1.8% | 16.7% | 32.9% | 50.3% | 31.0% | 39.0% | 11.5% |
| Dividend yield | 1.9% | 1.7% | 1.8% | 3.2% | 2.1% | — | — | 12.1% | — | — |
| Shareholder yield (dividends + buybacks) | 9.5% | 5.9% | 5.8% | 13.9% | 9.4% | 5.7% | 8.6% | 93.9% | 12.7% | 11.1% |
| Share price at fiscal year-end | $114.44 | $103.60 | $82.88 | $40.62 | $56.81 | $36.93 | $24.71 | $24.62 | $20.11 | $17.67 |
| Per share | ||||||||||
| Revenue per share | $166.02 | $132.00 | $120.14 | $135.86 | $127.94 | $113.00 | $112.94 | $126.04 | $110.02 | $86.53 |
| Earnings per share | $8.68 | $6.34 | $4.60 | $3.24 | $7.03 | $4.24 | $6.15 | −$3.21 | −$3.97 | −$1.62 |
| Operating cash flow per share | $16.36 | $6.24 | $11.79 | $4.73 | $13.03 | $14.87 | $12.37 | $9.72 | $9.52 | $3.29 |
| Free cash flow per share | $12.51 | $2.58 | $8.04 | $0.75 | $9.50 | $12.16 | $12.42 | $7.64 | $7.84 | $2.03 |
| Cash per share | $16.86 | $5.02 | $10.01 | $11.43 | $11.98 | $12.36 | $18.91 | $13.46 | $22.45 | $15.94 |
| Book value per share | −$3.61 | −$2.05 | −$3.03 | −$4.15 | −$2.13 | −$2.06 | $10.69 | $0.35 | $16.85 | $18.75 |
| Tangible book value per share | −$38.82 | −$35.35 | −$37.54 | −$38.87 | −$36.56 | −$37.56 | −$62.89 | −$86.38 | −$78.06 | −$84.20 |
| Dividends per share | $2.13 | $1.76 | $1.46 | $1.28 | $1.22 | — | — | $2.97 | — | — |
| Capex per share | $3.85 | $3.66 | $3.74 | $3.99 | $3.80 | $2.71 | $2.77 | $2.08 | $1.69 | $1.26 |
| Debt per share | $46.07 | $33.93 | $35.32 | $39.29 | $34.08 | $61.86 | $67.48 | $79.64 | $72.20 | $68.75 |
| Shares outstanding | 683.9M | 724.0M | 736.0M | 753.0M | 791.0M | 767.0M | 751.0M | 719.0M | 718.4M | 718.4M |
| Change in shares outstanding | −5.5% | −1.6% | −2.3% | −4.8% | +3.1% | +2.1% | +4.5% | +0.1% | 0.0% | 0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | — | — | — | 111.5% | −37.4% | −22.3% | −15.5% |
| Return on invested capital (ROIC) | 37.4% | 31.5% | 26.1% | 25.8% | 14.9% | 8.7% | 4.0% | −0.3% | −3.8% | −6.3% |
| Return on assets (ROA) | 6.6% | 5.7% | 3.9% | 2.7% | 6.0% | 3.0% | 3.9% | −2.0% | −2.4% | −1.4% |
| Return on tangible assets | 7.7% | 8.3% | 6.0% | 3.8% | 8.5% | 5.0% | 6.8% | −4.7% | −5.1% | −2.6% |
| Free cash flow margin | 7.5% | 2.0% | 6.7% | 0.5% | 7.4% | 10.8% | 11.0% | 6.1% | 7.1% | 2.4% |
| Income quality (OCF / net income) | 1.88 | 0.98 | 2.56 | 1.46 | 1.85 | 3.51 | 2.01 | — | — | — |
| Financial health | ||||||||||
| Total debt | $31.50B | $24.57B | $25.99B | $29.59B | $26.95B | $47.45B | $50.68B | $57.26B | $51.87B | $49.39B |
| Cash & short-term investments | $11.53B | $3.63B | $7.37B | $8.61B | $9.48B | $9.48B | $14.20B | $9.68B | $16.13B | $11.45B |
| Net debt | $19.98B | $20.93B | $18.63B | $20.98B | $17.48B | $37.97B | $36.48B | $47.59B | $35.74B | $37.94B |
| Debt / equity | — | — | — | — | — | — | 6.32 | 225.44 | 4.29 | 3.67 |
| Debt / assets | 0.31 | 0.31 | 0.32 | 0.33 | 0.29 | 0.51 | 0.41 | 0.51 | 0.42 | 0.42 |
| Net debt / EBITDA | 1.69 | 2.18 | 2.10 | 2.35 | 1.45 | 3.88 | 4.30 | 5.95 | 5.60 | 14.64 |
| Current ratio | 0.91 | 0.78 | 0.74 | 0.82 | 0.80 | 0.80 | 0.80 | 0.74 | 0.88 | 0.81 |
| Quick ratio | 0.75 | 0.63 | 0.67 | 0.73 | 0.70 | 0.70 | 0.74 | 0.67 | 0.82 | 0.74 |
| Interest coverage | 5.4 | 4.4 | 3.6 | 4.7 | 3.0 | 1.8 | 1.0 | -0.1 | -1.0 | -1.3 |
| Working capital | −$5.67B | −$10.30B | −$12.37B | −$9.30B | −$11.19B | −$11.19B | −$10.56B | −$12.58B | −$5.51B | −$7.36B |
| Invested capital | $17.50B | $19.45B | $16.40B | $17.86B | $15.79B | $36.39B | $44.51B | $47.84B | $47.84B | $51.41B |
| Tangible asset value | −$26.55B | −$25.50B | −$27.53B | −$29.17B | −$28.81B | −$28.81B | −$47.23B | −$62.10B | −$50.32B | −$54.72B |
| Net current asset value | −$46.15B | −$44.90B | −$48.27B | −$50.28B | −$49.28B | −$49.28B | −$71.82B | −$75.43B | −$66.00B | −$68.19B |
| Graham number | — | — | — | — | — | — | $38.44 | — | — | — |
| Graham net-net per share | −$98.67 | −$86.24 | −$87.76 | −$90.35 | −$86.33 | −$89.06 | −$114.55 | −$121.68 | −$107.35 | −$106.85 |
| Capital allocation | ||||||||||
| Dividends paid | $1.46B | $1.27B | $1.07B | $964.0M | $964.0M | — | — | $2.13B | — | — |
| Share buybacks (net) | $6.01B | $3.17B | $2.45B | $3.28B | $3.28B | $1.60B | $1.60B | $14.49B | $1.83B | $1.42B |
| Dividend payout ratio | 24.6% | 27.8% | 31.6% | 39.5% | 17.3% | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 87.4% | 237.6% | 59.5% | 755.3% | 56.5% | 17.2% | 17.2% | 302.6% | 32.5% | 96.9% |
| Capex / revenue | 2.3% | 2.8% | 3.1% | 2.9% | 3.0% | 2.4% | 2.5% | 1.7% | 1.5% | 1.5% |
| Capex / operating cash flow | 23.5% | 58.7% | 31.8% | 84.2% | 29.1% | 18.3% | 22.4% | 21.4% | 17.7% | 38.3% |
| Capex / depreciation | 0.87 | 0.85 | 0.83 | 0.95 | 0.95 | 0.39 | 0.39 | 0.19 | 0.14 | 0.19 |
| Stock-based compensation / revenue | 0.6% | 0.8% | 1.0% | 0.9% | 0.9% | 1.9% | 1.9% | 1.0% | 1.1% | 0.6% |
| R&D / revenue | 2.8% | 3.2% | 3.2% | 2.7% | 2.5% | 2.8% | 2.9% | 5.1% | 5.5% | 4.2% |
| SG&A / revenue | 9.8% | 12.1% | 13.9% | 13.8% | 14.4% | 16.2% | 17.9% | 21.7% | 24.0% | 21.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 66.9 | 56.5 | 66.3 | 64.7 | 65.2 | 75.7 | 74.7 | 65.3 | 65.3 | 60.0 |
| Days of inventory on hand | 34.5 | 25.4 | 22.8 | 24.5 | 27.1 | 25.5 | 20.1 | 17.6 | 16.3 | 15.6 |
| Days payables outstanding | 109.4 | 98.4 | 102.5 | 104.9 | 124.9 | 134.0 | 116.3 | 104.5 | 102.2 | 102.7 |
| Cash conversion cycle (days) | -8.0 | -16.5 | -13.4 | -15.7 | -32.6 | -32.8 | -21.6 | -21.6 | -20.6 | -27.0 |
| Receivables turnover | 5.45 | 6.46 | 5.50 | 5.64 | 5.60 | 4.82 | 4.89 | 5.59 | 5.59 | 6.08 |
| Payables turnover | 3.34 | 3.71 | 3.56 | 3.48 | 2.92 | 2.72 | 3.14 | 3.49 | 3.57 | 3.55 |
| Inventory turnover | 10.59 | 14.38 | 16.04 | 14.92 | 13.45 | 14.31 | 18.20 | 20.73 | 22.43 | 23.34 |
| Asset turnover | 1.25 | 1.18 | 1.03 | 1.12 | 1.09 | 0.80 | 0.72 | 0.77 | 0.65 | 0.76 |
| Average receivables | $20.82B | $14.79B | $16.06B | $18.14B | $18.07B | $17.97B | $17.36B | $16.20B | $14.14B | $10.22B |
| Average payables | $27.23B | $20.03B | $18.91B | $22.87B | $27.14B | $24.42B | $20.45B | $18.77B | $16.38B | $13.65B |
| Average inventory | $8.58B | $5.17B | $4.20B | $5.34B | $5.90B | $4.65B | $3.53B | $3.16B | $2.61B | $2.08B |
| Intangibles / total assets | 23.8% | 30.2% | 30.9% | 29.2% | 29.4% | 29.4% | 44.8% | 55.8% | 54.9% | 62.6% |
Computed from DELL's annual financial statements (latest annual report filed March 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DELL valuation and financial ratios
At the end of fiscal 2026 (January 31, 2026), Dell traded at 13.2 times earnings, against a 10-year median of 12.5. Based on the latest twelve months, the trailing P/E is 26.3 and the forward P/E is 21.3. Dell earned a return on invested capital of 37.4% in fiscal 2026. It ended the year with $31.5 billion of debt and $11.5 billion in cash and short-term investments, net debt of $20.0 billion. It returned $7.5 billion to shareholders: $1.5 billion in dividends and $6.0 billion in share buybacks, 87% of free cash flow. The share count fell 4.8% from 718.4M to 683.9M over 9 years.
See the DELL income statement, the DELL chart for price history, or the DELL stock overview for the latest quote and news.
DELL key metrics FAQ
What is Dell's P/E ratio?
Dell's trailing P/E ratio is 26.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 21.3. At the end of fiscal 2026 it was 13.2, compared with a 10-year median of 12.5.
What is Dell's EV/EBITDA?
Dell's enterprise value was 8.3 times EBITDA at the end of fiscal 2026 (enterprise value $98.2 billion, EBITDA $11.9 billion); the current EV/EBITDA is 20.7.
What is Dell's ROIC?
Dell's return on invested capital was 37.4% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Dell have?
Dell had total debt of $31.5 billion at the end of fiscal 2026 and $20.0 billion of net debt (1.69 times EBITDA).
What is Dell's dividend yield?
Dell's forward dividend yield is 0.28%. Dell paid $1.5 billion in dividends in fiscal 2026 ($2.13 per share), a payout ratio of 24.6%.
Does Dell buy back its shares?
Yes. Dell spent $6.0 billion on net share repurchases in fiscal 2026 Shares outstanding changed −5.5% over the year, to 683.9M..
What is Dell's free cash flow yield?
Dell generated $8.6 billion of free cash flow in fiscal 2026, a free cash flow yield of 10.9% on its market value at year-end ($78.3 billion).
What is Dell's current ratio?
Dell's current ratio was 0.91 at the end of fiscal 2026: current assets were 0.91 times current liabilities.