Summary
Dell Technologies' fiscal year 2022 (ending January 28, 2022) was marked by significant strategic divestitures, including the spin-off of VMware and the sale of Boomi. These actions, coupled with strong demand for its Client Solutions Group (CSG) products, particularly during the ongoing work-from-home environment, led to a substantial increase in net revenue. The company also made significant progress in debt reduction, achieving an investment-grade rating from major credit agencies. Despite supply chain challenges and component cost increases impacting gross margins, Dell Technologies demonstrated resilience and strategic financial management, positioning itself for continued growth in the evolving IT landscape.
Financial Highlights
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Financial Statements
Beta
| Revenue | $101.20B |
| Cost of Revenue | $79.31B |
| Gross Profit | $21.89B |
| R&D Expenses | $2.58B |
| SG&A Expenses | $14.65B |
| Operating Expenses | $17.23B |
| Operating Income | $4.66B |
| Interest Expense | $1.54B |
| Net Income | $5.56B |
| Shares Outstanding (Basic) | 762.00M |
| Shares Outstanding (Diluted) | 791.00M |
Key Highlights
- 1Completed the spin-off of VMware, Inc., receiving $9.3 billion in cash.
- 2Sold Boomi, Inc. for approximately $4.0 billion, supporting strategic investments.
- 3Achieved investment grade ratings from three major credit rating agencies due to debt reduction efforts.
- 4Experienced robust revenue growth, with total net revenue increasing by 17% year-over-year, driven primarily by strong performance in the Client Solutions Group (CSG).
- 5Managed supply chain constraints and increased component/logistics costs, which impacted gross margins, but mitigated some effects through pricing adjustments.
- 6Announced a new quarterly cash dividend policy, signaling a commitment to returning capital to shareholders.
- 7Invested $2.6 billion in Research and Development (R&D) to drive innovation and support long-term growth.