DELL

Dell Technologies Inc.

$455.44

+0.83% 2026-10-19

Information TechnologyS&P 500

1M 3M 6M 1Y 2Y

DELLSPY

-21.0%

-19.8%

+19.5%

+124.1%

YTD

+265.1%

+208.3%

Grades vs sector

Momentum

97th pct in sector

A+

12-1 return: +235.1%
Percentile within its GICS sector across the S&P 1500.

Growth

93rd pct in sector

Revenue growth (YoY): +57.7%
Percentile within its GICS sector across the S&P 1500.

Value

59th pct in sector

B-

Forward E/P: 6.6% · EBITDA/EV: 5.7%
Percentile within its GICS sector across the S&P 1500.

Profitability

39th pct in sector

C-

Profit margin: +7.5% · Return on equity: –
Percentile within its GICS sector across the S&P 1500.

Revisions

no data

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Held by 3 of 3 live models: Momentum Top 15, Quality Growth, Momentum Blend.

Momentum Top 15

6.7% of the book · rank 7 of 499

Held Quality Growth

6.7% of the book · rank 7 of 360

Held Momentum Blend

5.4% of the book · Leaders sleeve

Held

Why it's in Momentum Top 15 #7 of 499

Qualified on 12-1 momentum of +225.8% (its gain from 12 months to 1 month before 2026-09-30). Ranked 7th of 499 at the 2026-09-30 rebalance.

What would knock it out: Drops out if it falls outside the top 15 at the next rebalance (Oct 30). In the latest preview (2026-10-16) it ranks 6th.

Why it's in Quality Growth #7 of 360

Qualified on ROIC 52%, revenue +49% (TTM), growth accelerating +47.5 pts, latest quarter 2026-07-31. Ranked 7th of 360 at the 2026-09-30 rebalance.

What would knock it out: Drops out if it falls outside the top 15 at the next rebalance (Oct 30). In the latest preview (2026-10-16) it ranks 7th.

Why it's in Momentum Blend

In the Leaders sleeve: a fast grower breaking out near its highs after an earnings-style gap.

What would knock it out: Exits if it closes below its stop of $397.59; last close $455.44, 15% above it.

Key stats

Market cap$289.6B

P/E (trailing)26.5

P/E (forward)15.2

52-week range110.22 – 595.51

Revenue growth (YoY, latest qtr)+57.7%

Dividend yield0.56%

Analyst consensusBuy (25)

Mean price target$593.00 (+30%)

Valuation & fundamentals

Bottom line

Looks undervalued

Model read-out from the numbers below, not advice. Score +4 (DCF counts double).

▲DCF (base case)above the price by 35%

•Forward P/E vs sector15.2x vs median 16.9x

▲Piotroski F-score7/9

•Altman Z3.0 (grey)

▲Net debt / EBITDA0.8x

▲Analyst target+30% (25 analysts)

Discounted cash flow

Bear

$275

-40%

growth 18% · disc. 12.5% · term. 2.0%

Base

$614

+35%

growth 30% · disc. 11.5% · term. 2.5%

Bull

$1,101

+142%

growth 38% · disc. 10.5% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 19% a year for 10 years.

Implied

+19%/yr

FCF, last 3 yrs

+148%/yr

FCF, last 5 yrs

-2%/yr

Revenue, last 3 yrs

+4%/yr

Revenue, last 5 yrs

+6%/yr

Same inputs as the DCF above: trailing free cash flow 8.6B, 11.5% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2026; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-07-31). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.44 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)

sector median 35.9× · 35th pct

26.5×
cheaper

Forward P/E

sector median 16.9× · 42nd pct

15.2×
cheaper

EV / EBITDA

sector median 20.8× · 42nd pct

17.6×
cheaper

Price / sales

sector median 4.6× · 21st pct

1.9×
cheaper

Price / book

sector median 5.1×

–

FCF yield

sector median 3.5% · 43rd pct

3.0%
pricier

Forward EPS $29.93 vs trailing $17.20 (+74% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$132.0B

as of 2026-07-31

vs a year ago

+200%

YoY

× TTM revenue

0.87×

coverage

24-11

25-01

25-05

25-08

25-10

26-01

26-05

26-07

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

19.8%

Operating margin

9.4%

FCF margin

5.7%

Net margin

7.5%

Return on equity

–

Return on invested capital

90.3%

Net debt / EBITDA

0.8×

Current ratio

1.0×

Interest cover

–

Cash conversion (OCF/NI)

1.1×

Piotroski F-score 7/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 3.0 (grey zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$593

+30%

Analysts

Buy

Range

$480–$735

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2026	$113.5B	$5.9B	$8.6B
2025	$95.6B	$4.6B	$1.9B
2024	$88.4B	$3.4B	$5.9B
2023	$102.3B	$2.4B	$562.0M
2022	$101.2B	$5.6B	$7.5B
2021	$86.7B	$3.2B	$9.3B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +3.5%.

Earnings

Next report: 2026-11-27 · during market · EPS est 6.56

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-09-01	4.92	7.04	+43.1%
2026-05-28	2.96	4.86	+64.0%
2026-02-26	3.51	3.89	+10.7%
2025-11-25	2.48	2.59	+4.5%
2025-08-28	2.29	2.32	+1.2%
2025-05-29	1.69	1.55	-8.4%
2025-02-27	2.52	2.68	+6.4%
2024-11-26	2.06	2.15	+4.2%

Quarterly revenue

Quarter	Revenue	YoY
2026-07-31	$47.0B	+57.7%
2026-04-30	$43.8B	–
2026-01-31	$33.4B	–
2025-10-31	$27.0B	–
2025-07-31	$29.8B	–

Analyst actions

Barclays

2026-10-14 · down

Overweight → Equal-Weight
PT $574

Mizuho

2026-10-06 · main

Outperform → Outperform
PT $650

TD Cowen

2026-09-29 · main

Hold → Hold
PT $550

Morgan Stanley

2026-09-21 · main

Equal-Weight → Equal-Weight
PT $511

RBC Capital

2026-09-10 · init

→ Outperform
PT $640

Evercore ISI Group

2026-09-09 · main

Outperform → Outperform
PT $650

Recent dividends

2026-07-21: $0.630 · 2026-04-21: $0.630 · 2026-01-20: $0.525 · 2025-10-21: $0.525 · 2025-07-22: $0.525 · 2025-04-22: $0.525 · 2025-01-22: $0.445 · 2024-10-22: $0.445