Dell Technologies (DELL)
NYSE:DELL
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Dell Technologies
(NYSE:DELL)
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Rating:66Neutral
Price Target:
$503.00
▲(155.91% Upside)
Action:Reiterated
Date:06/02/26
The score is driven by strong operating momentum and very upbeat, raised guidance from the latest earnings call, supported by a powerful uptrend in the stock. These positives are meaningfully tempered by elevated balance-sheet risk (negative equity with sizable debt), overbought technical conditions, and a relatively high P/E with a low dividend yield.
Positive Factors
AI / Server Momentum
Massive AI/server demand and a record $51.3B backlog create a durable, high-content revenue stream. Elevated per-server component content and strong ISG growth structurally increase revenue and product attach for months, supporting sustained top-line and ecosystem leverage.
Negative Factors
Weak Capital Structure
Negative equity with sizable debt constrains financial flexibility and raises downside risk in an economic pullback. Elevated leverage can limit ability to invest opportunistically, increase refinancing sensitivity, and amplify volatility in returns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
AI / Server Momentum
Massive AI/server demand and a record $51.3B backlog create a durable, high-content revenue stream. Elevated per-server component content and strong ISG growth structurally increase revenue and product attach for months, supporting sustained top-line and ecosystem leverage.
Read all positive factors
Dell Technologies Key Performance Indicators (KPIs)
Any
Gross Profit by Type
Highlights the profit generated from different product or service types, shedding light on which areas are most profitable and driving the company's bottom line.
Highlights the profit generated from different product or service types, shedding light on which areas are most profitable and driving the company's bottom line.
Data provided by:
The Fly
The FlyDell Technologies (DELL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$274.72B
Dividend Yield1.45%
Average Volume (3M)9.49M
Price to Earnings (P/E)32.6
Beta (1Y)2.10
Revenue Growth38.86%
EPS GrowthN/A
CountryUS
Employees108,000
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)12.80
Shares Outstanding325,034,180
10 Day Avg. Volume17,033,777
30 Day Avg. Volume9,486,464
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)-30.70
Price to Sales (P/S)0.67
P/FCF Ratio8.87
Enterprise Value/Market Cap1.11
Enterprise Value/Revenue2.27
Enterprise Value/Gross Profit11.84
Enterprise Value/Ebitda27.82
Forecast
1Y Price Target
$431.22Price Target Upside119.40% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering20
EPS Forecast (FY)17.68
Revenue Forecast (FY)$167.91B
Dell Technologies Business Overview & Revenue Model
Company Description
Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client...
How the Company Makes Money
Dell Technologies primarily makes money by selling hardware and related services to commercial and consumer customers. Key revenue streams include (1) Client Solutions: sales of desktops, notebooks, workstations, monitors, and accessories, sold th...
Dell Technologies Earnings Call Summary
Earnings Call Date:May 28, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Sep 03, 2026
Earnings Call Sentiment Positive
The call presents overwhelmingly positive operational and financial momentum: record revenue, EPS, cash flow, large AI order/bookings/backlog, strong ISG growth, product innovation, and raised FY guidance. However, significant supply constraints—primarily DRAM/NAND and other component shortages—are limiting the company’s ability to fully convert demand into shipments and create phasing uncertainty. There are also tactical trade-offs in pricing that impacted some transactional demand and near-term segment margin variability. On balance the highlights (strong growth, margin expansion, cash generation, and raised guidance) materially outweigh the lowlights tied mainly to supply constraints and timing effects.Positive Updates
Record Revenue and EPS
Total revenue of $43.8B, up 88% year-over-year; diluted non-GAAP EPS $4.86, up 214% year-over-year — both Q1 records.
Negative Updates
Material Supply Constraints (Memory Primary)
Management highlighted supply as the binding constraint (primary pressure on DRAM and NAND). Demand continues to outpace supply, driving a record backlog; memory shortages expected to persist and limit near-term upside.
Read all updates
Q1-2027 Updates
Positive
Negative
Record Revenue and EPS
Total revenue of $43.8B, up 88% year-over-year; diluted non-GAAP EPS $4.86, up 214% year-over-year — both Q1 records.
Read all positive updates
Company Guidance
Dell guided Q2 revenue of $44.0–45.0B (midpoint $44.5B, roughly +50% YoY), with ISG growth of ~75% supported by about $15.5B of AI server revenue and CSG up ~20%; they expect operating expenses down low-single-digits sequentially, operating income to grow ~80%, CSG operating income rate to be ~6%, a diluted share count of ~652M, and diluted non‑GAAP EPS of $4.80 ± $0.10 (over +100% at the midpoint). For FY27 they guided revenue of $165–169B (midpoint $167B, ~+50% YoY), ISG ~+80% driven by ~$60B of AI server revenue (~2.4x YoY), traditional servers just over +60%, storage mid‑single‑digits, CSG low‑teens; operating expense dollars up high‑single‑digits, I&O $1.4–1.5B, and diluted non‑GAAP EPS $17.90 ± $0.25 (about +75% at the midpoint). They also said ex‑AI gross margin outlook is better than 90 days ago, expect margin rate expansion through the year, and noted they raised FY guidance by roughly $27B of revenue and $5 of EPS.Dell Technologies Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
38
Negative
Cash Flow
67
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 134.00B | 113.54B | 95.57B | 88.42B | 102.30B | 101.20B |
| Gross Profit | 25.67B | 22.71B | 21.25B | 21.07B | 22.69B | 21.89B |
| EBITDA | 10.93B | 11.85B | 9.59B | 8.89B | 7.66B | 12.02B |
| Net Income | 8.41B | 5.94B | 4.59B | 3.39B | 2.44B | 5.56B |
Balance Sheet | ||||||
| Total Assets | 114.91B | 101.29B | 79.75B | 82.13B | 89.61B | 92.73B |
| Cash, Cash Equivalents and Short-Term Investments | 11.58B | 11.53B | 3.63B | 7.37B | 8.61B | 9.48B |
| Total Debt | 31.16B | 31.50B | 24.57B | 25.99B | 29.59B | 26.95B |
| Total Liabilities | 116.32B | 103.76B | 81.13B | 84.26B | 92.64B | 94.31B |
| Stockholders Equity | -1.40B | -2.47B | -1.48B | -2.23B | -3.12B | -1.69B |
Cash Flow | ||||||
| Free Cash Flow | 9.44B | 8.55B | 1.87B | 5.92B | 562.00M | 7.51B |
| Operating Cash Flow | 12.47B | 11.19B | 4.52B | 8.68B | 3.56B | 10.31B |
| Investing Cash Flow | -3.03B | -2.06B | -2.21B | -2.78B | -3.02B | 1.31B |
| Financing Cash Flow | -5.66B | -1.46B | -5.82B | -7.09B | -1.63B | -16.61B |
Dell Technologies Technical Analysis
Positive
196.55
Price Trends
241.65
Positive
186.55
Positive
160.73
Positive
Market Momentum
55.12
Negative
68.08
Neutral
70.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DELL, the sentiment is Positive. The current price of 196.55 is below the 20-day moving average (MA) of 311.58, below the 50-day MA of 241.65, and above the 200-day MA of 160.73, indicating a bullish trend. The MACD of 55.12 indicates Negative momentum. The RSI at 68.08 is Neutral, neither overbought nor oversold. The STOCH value of 70.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DELL.
Dell Technologies Risk Analysis
Dell Technologies disclosed 38 risk factors in its most recent earnings report. Dell Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Dell Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $204.78B | 30.61 | 91.94% | 0.18% | -18.43% | 242.76% | |
75 Outperform | $35.73B | 27.62 | 114.18% | 1.89% | 5.28% | 10.66% | |
75 Outperform | $210.93B | 86.06 | 916.38% | 1.02% | 28.92% | 55.56% | |
66 Neutral | $274.72B | 32.56 | -363.24% | 1.45% | 38.86% | ― | |
65 Neutral | $24.05B | 9.24 | -473.44% | 5.09% | 7.20% | 4.12% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
DELL
Dell Technologies
394.39
282.34
251.99%
HPQ
HP
25.58
1.61
6.73%
NTAP
NetApp
167.04
62.81
60.26%
STX
Seagate Tech
847.47
722.12
576.06%
WDC
Western Digital
511.72
456.42
825.35%
Dell Technologies Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Dell Converts Class B Shares to Class C Stock
Neutral
Apr 20, 2026
On multiple dates between March 2 and April 16, 2026, Dell Technologies issued 4,237,699 shares of its Class C common stock upon the conversion of an equal number of Class B shares held by Silver Lake-affiliated funds, leaving 325,654,621 Class C ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.