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Dell Technologies Inc.DELL

Sector
Technology
Industry
Electronic Computers
Exchange
NYSE

Stock Price $DELL

Latest filings

You are here#15 of 67 in Technology by market cap

Filing record · 2016–202610-K1010-Q328-K174

DELL filed 10 annual reports (10-K), 32 quarterly reports (10-Q) and 174 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’17Oct ’17
  2. Leadership change8-K · Dec ’19Dec ’19
  3. Material agreement8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  12. $113.54B
YoY changeLargest recent move+27.6%in FY18Latest +18.8%

Latest bar from 10-KFY2026Click a bar to open its SEC filing

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All DELL Financial Metrics61 metrics

Income Statement15

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

Dell Technologies Inc. Financial Overview 2022–2026

Updated Jul 10, 2026

A staggering 757% surge in AI-optimized server sales during Q1 FY2027 fundamentally redefines Dell Technologies. The enterprise hardware provider has successfully pivoted from a legacy PC and traditional storage vendor into a high-growth AI infrastructure architect. This strategic shift ultimately reversed a significant macroeconomic slump, driving total net revenue to a record $113.5 billiona in FY2026. Alongside this operational transformation, management consistently prioritized capital returns, steadily shrinking the outstanding share count from 0.76 billion shares in FY2022 down to 0.65 billion shares by the close of FY2026.

The financial leverage behind this AI adoption is severe. During FY2026, the Infrastructure Solutions Group expanded by 40% to hit $60.8 billionb, overtaking the legacy Client Solutions Group. This top-line momentum pushed operating income up 31% to $8.1 billion and sparked a 147% increase in operating cash flow to $11.2 billion, which directly funded $6.0 billion in stock buybacks. The market aggressively rewarded this structural turnaround. At the close of FY2025, Dell traded at $103.60 with a 16.2x P/E ratio and a $72.1 billion market cap. By the end of FY2026, the stock climbed to $114.44, yet the valuation multiple actually compressed to 13.2x earnings as bottom-line profitability growth vastly outpaced the share price appreciation.

Recent Developments (Q4 2026 and Q2 2027)

Dell sustained its explosive growth in Q1 2027, driving total net revenue up 88% year-over-year to $43.8 billionc. This acceleration was anchored by the Infrastructure Solutions Group, which expanded 181% to $29.0 billion. The Client Solutions Group also posted a 17% increase to $14.6 billion. This scale pushed operating income up 214% to $3.7 billion. Strategically, the company fortified its balance sheet by securing a new $6 billion credit facility and issuing $3 billion in senior unsecured notes. Structurally, Dell completed a corporate redomestication from Delaware to Texas on July 1, 2026.

Bulls point to a 20% dividend increase and a 46% jump in operating cash flow to $4.1 billiond as proof of sustainable cash generation. Bears warn that gross margin percentages continue contracting due to the AI hardware mix, presenting profitability risks. Shares trade at a rich 44.0x earnings as of June 9, 2026.

What to watch: gross margin percentage trends; impact of new Texas bylaws on shareholder proposals.

03—Filings

Recent SEC Filings

  1. 8-KDell Technologies Inc. 8-K Report, Executive Changes (Oct 21, 2026)Dell Technologies Inc. (DELL) has filed an 8-K report to announce a significant leadership change within its legal department. Richard Rothberg, the current Executive Vice President, General Counsel, and Secretary, has decided to retire effective February 1, 2027, after a distinguished tenure. Mr. Rothberg will continue to support the company in a transitional capacity until April 30, 2027, ensuring a smooth handover of responsibilities. To ensure continuity and leverage internal expertise, the Board of Directors has appointed Christopher Garcia as the successor to Mr. Rothberg, effective February 1, 2027. Mr. Garcia, currently Senior Vice President, Corporate Legal, and Assistant Secretary, brings extensive experience from his 18 years with Dell, holding various global legal leadership roles. His background in corporate governance, regulatory compliance, and prior experience in private practice positions him well to lead the company's legal affairs.
  2. 8-KDell Technologies Inc. 8-K Report, Material Agreement (Sep 15, 2026)Dell Technologies Inc. (DELL) announced on September 15, 2026, through its wholly-owned subsidiaries Dell International L.L.C. and EMC Corporation, the completion of a significant public offering of senior notes. The offering aggregated $5 billion in principal amount across four tranches with varying maturity dates and interest rates: $1.25 billion in 5.100% Senior Notes due 2029, $1.25 billion in 5.400% Senior Notes due 2031, $1.5 billion in 5.600% Senior Notes due 2033, and $1 billion in 5.900% Senior Notes due 2037. These notes are senior unsecured obligations, guaranteed by Dell Technologies Inc. and two other subsidiaries, ranking equally with existing senior indebtedness and senior to future subordinated debt. The proceeds from this offering will likely be used to fund ongoing operations, capital expenditures, or potential acquisitions, which is a common strategy for companies seeking to strengthen their balance sheet and maintain financial flexibility. The issuance of these notes, which are rated investment grade, indicates the company's continued access to debt markets and its ability to secure financing at competitive rates, reflecting investor confidence in Dell's financial stability and future prospects. Investors should monitor how these new debt obligations impact the company's leverage ratios and overall financial strategy.
  3. 8-KDell Technologies Inc. 8-K Report, Corporate Update (Sep 10, 2026)Dell Technologies Inc. (DELL) has announced the details of a significant debt offering through an 8-K filing on September 10, 2026. The company, along with Dell International L.L.C. and EMC Corporation, will issue a total of $5 billion in senior notes across four tranches with varying maturities and interest rates, maturing in 2029, 2031, 2033, and 2037. These notes will be jointly and severally guaranteed by Dell Technologies Inc., Denali Intermediate Inc., and Dell Inc. The offering is managed by a syndicate of major financial institutions, including Barclays Capital Inc., BofA Securities, Inc., and others. The primary purpose of this debt issuance is to refinance existing debt, specifically the outstanding 4.900% First Lien Notes due 2026, with any remaining proceeds allocated for general corporate purposes, potentially including further debt reduction. The company has set public offering prices for each tranche slightly below par, reflecting current market conditions. The closing of this offering is anticipated on September 15, 2026, pending standard closing conditions.
  4. 8-KDell Technologies Inc. 8-K Report, Financial Results (Sep 1, 2026)Dell Technologies reported fiscal Q2 2027 (quarter ended July 31, 2026) results that were dramatically above year-ago levels, driven by AI server demand. Record revenue was $47.0 billion, up 58% year over year, and diluted GAAP EPS was $6.34, up 273%. Non-GAAP diluted EPS was $7.04, up 203%. Operating income rose 204% to $5.4 billion, and gross margin expanded to 20.9% of revenue from 18.3%. The Infrastructure Solutions Group (ISG) drove the growth, with revenue up 89% to a record $31.8 billion. AI-Optimized Servers revenue reached $16.4 billion (up 100%), and the company reported a record $60.9 billion in AI server orders and a record $95 billion backlog. Traditional servers and networking grew 122%, while storage grew 26%. Management raised full-year FY27 revenue guidance by $25 billion to $192.0 billion, up about 69% year over year. It raised AI-Optimized Servers guidance to $74.0 billion from $60.0 billion. Full-year GAAP EPS guidance rose to $24.37 from $17.31, and non-GAAP EPS guidance rose to $25.50 from $17.90. Third-quarter guidance calls for revenue of $49.0 billion (up 81%) and non-GAAP EPS of $6.50 (up 151%). The company also declared a quarterly dividend of $0.63 per share and returned a record $4.3 billion to shareholders in the quarter. There are several points of caution for investors. Operating cash flow fell 13% year over year to $2.2 billion, and free cash flow was $986 million, down 47%. Working capital absorbed significant cash, with accounts receivable, inventories and accounts payable all rising sharply. Total debt increased, and total shareholders' equity remained negative at $(1.4) billion. Much of the EPS growth also reflects a large fair value gain on equity investments, which contributed $704 million to six-month GAAP net income. The company's results are heavily concentrated in AI server demand, so the outlook depends on sustaining that demand and on the supply chain.
  5. 8-KDell Technologies Inc. 8-K Report, Rights Modification (Jul 6, 2026)Dell Technologies Inc. (DELL) has filed an 8-K report detailing amendments to its bylaws, effective July 2, 2026. These changes implement Section 21.373 of the Texas Business Organizations Code, which significantly alters the requirements for shareholders submitting proposals at company meetings. Under the new bylaws, a shareholder or group of shareholders must meet stringent criteria to submit a proposal. This includes holding shares with a market value of at least $1 million or 3% of outstanding voting shares, continuously holding these shares for at least six months prior to the meeting, retaining ownership through the meeting's duration, and soliciting support from holders of at least 67% of the voting power. These amendments are designed to streamline the shareholder proposal process and ensure that proposals are brought forth by substantial, long-term investors.
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04—See also

Related Companies

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