Dell Technologies Income Statement

Financials in millions USD. Fiscal year is February - January.

Millions USD. Fiscal year is Feb - Jan.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '25 Oct 31, 2025	Jan '25 Jan 31, 2025	Feb '24 Feb 2, 2024	Feb '23 Feb 3, 2023	Jan '22 Jan 28, 2022	Jan '21 Jan 29, 2021
Revenue	104,090	95,567	88,425	102,301	101,197	86,670
Revenue Growth (YoY)	10.79%	8.08%	-13.56%	1.09%	16.76%	2.19%
Cost of Revenue	82,285	74,162	67,270	79,507	79,277	66,530
Gross Profit	21,805	21,405	21,155	22,794	21,920	20,140
Selling, General & Admin	10,999	11,533	12,335	13,773	14,557	14,000
Research & Development	3,013	2,942	2,761	2,723	2,570	2,455
Operating Expenses	14,012	14,475	15,096	16,496	17,127	16,455
Operating Income	7,793	6,930	6,059	6,298	4,793	3,685
Interest Expense	-1,492	-1,394	-1,501	-1,222	-1,542	-2,052
Interest & Investment Income	200	160	305	100	42	47
Currency Exchange Gain (Loss)	-89	-112	-199	-265	-221	-160
Other Non Operating Income (Expenses)	15	-20	24	-59	20	101
EBT Excluding Unusual Items	6,427	5,564	4,688	4,852	3,092	1,621
Merger & Restructuring Charges	-577	-693	-648	-527	-134	-
Gain (Loss) on Sale of Investments	350	177	47	-206	569	425
Gain (Loss) on Sale of Assets	236	-	-	-	3,968	458
Legal Settlements	-	-	-	-894	-	-
Other Unusual Items	-	-	-	-	-1,572	-158
Pretax Income	6,436	5,048	4,087	3,225	5,923	2,346
Income Tax Expense	1,227	472	715	803	981	101
Earnings From Continuing Operations	5,209	4,576	3,372	2,422	4,942	2,245
Earnings From Discontinued Operations	-	-	-	-	615	1,001
Net Income to Company	5,209	4,576	3,372	2,422	5,557	3,246
Minority Interest in Earnings	1	16	16	20	6	4
Net Income	5,210	4,592	3,388	2,442	5,563	3,250
Net Income to Common	5,210	4,592	3,388	2,442	5,563	3,250
Net Income Growth	18.52%	35.54%	38.74%	-56.10%	71.17%	-29.59%
Shares Outstanding (Basic)	686	705	720	734	762	744
Shares Outstanding (Diluted)	695	720	736	753	791	767
Shares Change (YoY)	-3.97%	-2.17%	-2.26%	-4.80%	3.13%	2.13%
EPS (Basic)	7.60	6.51	4.71	3.33	7.30	4.37
EPS (Diluted)	7.50	6.38	4.60	3.24	7.02	4.22
EPS Growth	23.48%	38.70%	41.98%	-53.87%	66.43%	-30.06%
Free Cash Flow	4,449	1,869	5,920	562	7,511	9,325
Free Cash Flow Per Share	6.40	2.60	8.04	0.75	9.50	12.16
Dividend Per Share	2.020	1.780	1.480	1.320	-	-
Dividend Growth	18.48%	20.27%	12.12%	-	-	-
Gross Margin	20.95%	22.40%	23.92%	22.28%	21.66%	23.24%
Operating Margin	7.49%	7.25%	6.85%	6.16%	4.74%	4.25%
Profit Margin	5.00%	4.81%	3.83%	2.39%	5.50%	3.75%
Free Cash Flow Margin	4.27%	1.96%	6.69%	0.55%	7.42%	10.76%
EBITDA	10,498	9,728	8,946	9,137	9,081	8,760
EBITDA Margin	10.09%	10.18%	10.12%	8.93%	8.97%	10.11%
D&A For EBITDA	2,705	2,798	2,887	2,839	4,288	5,075
EBIT	7,793	6,930	6,059	6,298	4,793	3,685
EBIT Margin	7.49%	7.25%	6.85%	6.16%	4.74%	4.25%
Effective Tax Rate	19.06%	9.35%	17.49%	24.90%	16.56%	4.30%
Revenue as Reported	104,090	95,567	88,425	102,301	101,197	86,670
Advertising Expenses	-	800	900	1,100	1,300	1,000

Updated Nov 25, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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