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Dell Technologies Inc. (DELL) Annual Reports

Q: Where can I read Dell Technologies Inc. (DELL) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 4 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

Dell Technologies Inc. is listed on NYSE, classified by the SEC under Electronic Computers (SIC 3571). This page indexes 4 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： NYSE
Fiscal year end： 12/31
SEC CIK： 1571996 →

Website：Official site ↗

Financial Highlights

FY2027 Q2 (quarterly, ended 2026-07-31)
	Current	Prior year	YoY
Revenue	$47.0B	$29.8B	+57.7%
Operating income	$5.4B	$1.8B	+203.7%
Net income	$4.1B	$1.2B	+255.1%
EPS (diluted)	$6.34	$1.70	+272.9%

Company guidance
	Period	Range
EPS	Q1 2027	$44000000000.00 – $45000000000.00

Figures are the company’s own outlook as stated in its earnings release, not analyst estimates.

Source: SEC EDGAR (XBRL company facts); guidance from Form 8-K Exhibit 99.1

Financial history

Revenue & profit

Quarterly · In bn (USD)

Revenue 47.0 bn Net income 4.13 bn

Periods follow the company’s fiscal year (Apple ends in September, Walmart in January), so they differ from calendar quarters.

Show table：Income statement

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4	2027Q1	2027Q2
Revenue	54.1	12.8	13.0	12.7	12.7	12.5	13.1	16.3	20.1	18.0	19.5	19.6	22.0	21.4	22.9	22.5	23.8	21.9	23.4	22.8	24.0	21.9	22.7	23.5	24.1	24.5	26.1	28.4	28.0	26.1	26.4	24.7	25.0	20.9	22.9	22.3	22.3	22.2	25.0	24.4	23.9	23.4	29.8	27.0	33.4	43.8	47.0
Gross profit	8.90	2.13	2.08	2.13	2.25	2.42	2.33	3.90	4.53	4.30	4.81	5.16	5.78	5.88	6.12	5.94	7.11	6.80	7.33	7.13	7.68	6.85	7.16	7.26	5.52	7.66	7.99	8.06	5.62	5.78	5.44	5.71	5.76	5.02	5.39	5.15	5.37	4.81	5.31	5.31	5.68	4.94	5.45	5.59	6.73	7.78	9.83
Operating income	-0.32	-0.33	-0.1	-0.08	-0.03	-0.16	0.06	-1.51	-1.67	-1.50	-0.98	-0.53	-0.32	-0.15	-0.01	-0.36	0.33	0.55	0.52	0.84	0.72	0.7	1.14	1.13	2.18	1.38	1.37	1.35	0.56	1.55	1.27	1.76	1.19	1.07	1.17	1.49	1.55	0.92	1.34	1.67	2.16	1.17	1.77	2.12	3.09	3.66	5.39
Net income	-1.22	-0.5	-0.26	-0.18	-0.15	0.06	0.57	-2.06	-0.24	-1.33	-0.95	-0.94	-0.51	-0.64	-0.5	-0.88	-0.3	0.29	3.42	0.5	0.41	0.14	1.05	0.83	1.23	0.89	0.83	3.84	0	1.07	0.51	0.25	0.61	0.58	0.46	1.01	1.21	0.96	0.85	1.13	1.53	0.97	1.16	1.55	2.26	3.44	4.13

Balance sheet

Quarterly · In bn (USD)

Total assets 127 bn Total liabilities 129 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4	2027Q1	2027Q2
Current assets	—	—	—	—	21.5	20.8	24.3	36.4	30.8	30.4	32.2	34.5	39.0	41.2	43.1	43.0	36.1	33.7	35.3	34.8	36.9	40.9	41.1	38.6	43.6	42.3	43.6	57.2	45.0	41.4	42.3	38.8	42.4	37.4	39.0	37.0	36.0	34.6	37.5	38.0	36.2	42.9	45.5	43.1	57.6	70.6	80.5
Total assets	—	—	—	—	45.1	43.9	68.9	126	118	116	117	118	122	123	123	121	112	110	116	117	119	120	121	119	123	122	123	136	92.7	88.4	88.8	85.2	89.6	84.1	85.7	83.3	82.1	80.2	82.7	82.0	79.8	86.9	89.2	87.5	101	115	127
Current liabilities	—	—	—	—	25.0	23.9	25.8	41.4	38.1	36.6	42.1	40.7	45.9	44.1	49.2	47.6	45.0	43.5	47.0	49.1	52.5	50.0	54.3	50.3	54.1	54.9	55.5	69.7	56.2	53.1	54.8	52.0	51.6	46.8	50.9	48.9	48.5	47.7	52.0	49.5	46.5	50.4	54.9	50.5	63.3	74.6	83.7
Total liabilities	—	—	—	—	43.5	42.1	66.5	106	99.0	98.3	100	103	107	105	106	105	112	110	111	112	115	117	116	112	115	113	113	121	94.3	90.8	91.5	88.5	92.6	87.0	88.3	85.8	84.4	82.9	85.5	84.1	81.1	89.9	91.9	90.1	104	116	129
Equity	2.90	—	—	1.69	1.47	1.44	2.07	13.9	13.2	11.5	10.9	9.52	9.33	10.5	8.56	7.59	-5.76	-6.46	-2.45	-1.80	-1.57	-1.61	-0.42	0.88	2.48	3.49	4.83	8.95	-1.68	-2.46	-2.86	-3.47	-3.12	-3.02	-2.77	-2.66	-2.40	-2.82	-2.89	-2.28	-1.48	-3.02	-2.77	-2.62	-2.47	-1.40	-1.43

Cash flow

Quarterly · In bn (USD)

Operating 2.23 bn Investing -1.34 bn Financing -0.88 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4	2027Q1	2027Q2
Operating	2.55	-0.89	1.63	0.46	0.97	-0.06	1.88	-0.27	0.68	0.24	1.82	1.62	3.13	1.16	2.63	0.83	2.37	0.68	3.28	1.82	3.51	-0.8	3.33	2.99	5.88	2.24	1.73	3.25	3.09	-0.27	0.72	0.4	2.71	1.78	3.21	2.15	1.53	1.04	1.34	1.55	0.59	2.80	2.54	1.17	4.67	4.08	2.23
Investing	-0.35	-0.08	-0.03	-0.08	-0.12	-0.06	-0.16	-37.8	6.80	0.05	-1.34	-0.7	-0.89	-0.15	-0.01	-0.06	3.61	-0.46	-0.82	-2.70	-0.7	-0.48	-0.92	1.44	-0.49	-0.52	-0.67	3.24	-0.75	-0.72	-0.78	-0.73	-0.8	-0.68	-0.6	-0.82	-0.67	-0.46	-0.56	-0.52	-0.68	-0.09	-0.65	-0.62	-0.69	-1.07	-1.34
Financing	-3.09	0.36	-0.03	-0.65	-0.17	-0.39	-0.46	39.7	-6.90	-0.2	-0.87	1.57	-0.13	0.54	-2.53	-0.86	-11.5	-0.72	-2.20	0.32	-2.00	4.26	-3.44	-4.31	-2.47	-1.64	-3.67	4.28	-15.6	-1.71	-1.05	-0.39	1.51	-2.00	-1.83	-1.45	-1.82	-2.08	-2.03	-0.31	-1.39	1.24	-1.46	0.86	-2.09	-2.95	-0.88
Cash at period end	5.40	4.77	6.00	5.65	6.58	6.14	7.23	8.82	9.47	9.55	9.21	11.7	13.9	15.3	15.3	15.2	9.68	9.04	9.19	8.56	9.30	12.2	11.2	11.3	14.2	14.2	11.7	22.4	9.48	6.65	5.51	4.91	8.61	7.63	8.36	8.30	7.37	5.83	4.55	5.23	3.63	7.70	8.15	9.57	11.5	11.6	11.6

Profitability

Quarterly · %

Gross margin 20.9% Operating margin 11.5% Net margin 8.8%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4	2027Q1	2027Q2
Gross margin	16.4%	16.6%	16.0%	16.8%	17.8%	19.3%	17.9%	24.0%	22.6%	23.9%	24.6%	26.4%	26.3%	27.5%	26.7%	26.4%	29.8%	31.0%	31.4%	31.2%	32.0%	31.3%	31.5%	30.9%	22.9%	31.3%	30.6%	28.4%	20.1%	22.1%	20.6%	23.1%	23.0%	24.0%	23.5%	23.1%	24.1%	21.6%	21.2%	21.8%	23.7%	21.1%	18.3%	20.7%	20.2%	17.8%	20.9%
Operating margin	-0.6%	-2.6%	-0.8%	-0.6%	-0.2%	-1.3%	0.5%	-9.3%	-8.3%	-8.3%	-5.0%	-2.7%	-1.5%	-0.7%	-0.1%	-1.6%	1.4%	2.5%	2.2%	3.7%	3.0%	3.2%	5.0%	4.8%	9.0%	5.6%	5.3%	4.8%	2.0%	5.9%	4.8%	7.1%	4.8%	5.1%	5.1%	6.7%	6.9%	4.1%	5.4%	6.8%	9.0%	5.0%	6.0%	7.8%	9.3%	8.3%	11.5%
Net margin	-2.3%	-3.9%	-2.0%	-1.4%	-1.2%	0.4%	4.4%	-12.7%	-1.2%	-7.4%	-4.8%	-4.8%	-2.3%	-3.0%	-2.2%	-3.9%	-1.3%	1.3%	14.6%	2.2%	1.7%	0.7%	4.6%	3.5%	5.1%	3.6%	3.2%	13.5%	0.0%	4.1%	1.9%	1.0%	2.5%	2.8%	2.0%	4.5%	5.4%	4.3%	3.4%	4.7%	6.4%	4.1%	3.9%	5.7%	6.8%	7.8%	8.8%

Returns & leverage

Quarterly · %

ROE 66.7% ROA 10.5% Debt ratio 101.1%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4	2027Q1	2027Q2
ROE	—	—	—	-128.5%	-50.5%	-37.8%	14.2%	-20.4%	-22.7%	-47.2%	-70.4%	-29.5%	-33.0%	-27.5%	-26.5%	-29.5%	-129.7%	-68.7%	82.9%	135.1%	—	—	—	—	718.2%	426.5%	171.4%	138.0%	1401.3%	1121.6%	552.5%	66.7%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROA	—	—	—	—	-2.5%	-1.2%	0.4%	-1.3%	-2.0%	-3.8%	-4.9%	-2.8%	-3.1%	-2.5%	-2.1%	-2.1%	-2.0%	-1.2%	2.1%	3.3%	4.0%	3.9%	1.8%	2.1%	2.7%	3.3%	3.1%	5.3%	5.2%	5.5%	5.1%	1.7%	2.7%	2.3%	2.2%	3.2%	3.8%	4.4%	4.8%	5.0%	5.5%	5.4%	5.6%	6.2%	6.6%	8.3%	10.5%
Debt ratio	—	—	—	—	96.5%	96.0%	96.6%	84.1%	83.7%	84.8%	85.3%	86.8%	87.4%	85.5%	86.0%	86.4%	99.8%	99.9%	96.4%	95.9%	96.8%	96.9%	95.7%	94.6%	93.5%	92.5%	91.9%	89.5%	101.7%	102.7%	103.1%	104.0%	103.4%	103.5%	103.1%	103.1%	102.8%	103.4%	103.4%	102.7%	101.7%	103.5%	103.1%	103.0%	102.4%	101.2%	101.1%

EPS

Quarterly · US$

EPS US$6.34

Show table：EPS

Item	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4	2027Q1	2027Q2
EPS（US$）	—	-1.24	-0.65	—	—	0.14	1.41	—	—	—	—	—	—	—	—	—	—	0.38	4.47	0.66	0.53	0.19	1.37	1.08	1.58	1.13	1.05	4.87	—	1.37	0.68	0.33	0.83	0.79	0.63	1.36	1.66	1.32	1.17	1.58	2.15	1.37	1.70	2.28	3.34	5.24	6.34

Revenue & profit

Year-to-date · In bn (USD)

Revenue 90.8 bn Net income 7.57 bn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In bn (USD)

Total assets 127 bn Total liabilities 129 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In bn (USD)

Operating 6.31 bn Investing -2.40 bn Financing -3.84 bn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 19.4% Operating margin 10.0% Net margin 8.3%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 66.7% ROA 10.5% Debt ratio 101.1%

EPS

Year-to-date · US$

EPS US$11.58

Revenue & profit

Annual · In bn (USD)

Revenue 114 bn Net income 5.94 bn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Revenue	51.2	61.9	79.0	90.6	92.2	92.3	107	102	88.4	95.6	114
Gross profit	8.59	13.2	20.1	25.1	28.9	26.8	29.3	22.7	20.9	21.1	22.7
Operating income	-0.54	-3.28	-3.33	-0.19	2.62	5.14	4.66	5.77	5.27	6.09	8.15
Net income	-1.10	-1.67	-3.73	-2.31	4.62	3.25	5.56	2.44	3.26	4.47	5.94

Balance sheet

Annual · In bn (USD)

Total assets 101 bn Total liabilities 104 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Current assets	21.5	30.8	39.0	36.1	36.9	43.6	45.0	42.4	36.0	36.2	57.6
Total assets	45.1	118	122	112	119	123	92.7	89.6	82.1	79.8	101
Current liabilities	25.0	38.1	45.9	45.0	52.5	54.1	56.2	51.6	48.5	46.5	63.3
Total liabilities	43.5	99.0	107	112	115	115	94.3	92.6	84.4	81.1	104
Equity	1.47	13.2	9.33	-5.76	-1.57	2.48	-1.68	-3.12	-2.40	-1.48	-2.47

Cash flow

Annual · In bn (USD)

Operating 11.2 bn Investing -2.06 bn Financing -1.46 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Operating	2.16	2.22	6.81	6.99	9.29	11.4	10.3	3.57	8.68	4.52	11.2
Investing	-0.32	-31.3	-2.88	3.39	-4.69	-0.46	1.31	-3.02	-2.78	-2.21	-2.06
Financing	-0.5	31.9	0.36	-14.3	-4.60	-5.95	-16.6	-1.62	-7.09	-5.81	-1.46
Cash at period end	6.58	9.47	13.9	9.68	9.30	14.2	9.48	8.61	7.37	3.63	11.5

Profitability

Annual · %

Gross margin 20.0% Operating margin 7.2% Net margin 5.2%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Gross margin	16.8%	21.3%	25.4%	27.6%	31.4%	29.0%	27.4%	22.2%	23.7%	22.1%	20.0%
Operating margin	-1.1%	-5.3%	-4.2%	-0.2%	2.9%	5.6%	4.3%	5.6%	6.0%	6.4%	7.2%
Net margin	-2.2%	-2.7%	-4.7%	-2.5%	5.0%	3.5%	5.2%	2.4%	3.7%	4.7%	5.2%

Returns & leverage

Annual · %

ROE 1401.3% ROA 6.6% Debt ratio 102.4%

Show table：Returns & leverage

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
ROE	-75.3%	-22.7%	-33.0%	-129.7%	—	718.2%	1401.3%	—	—	—	—
ROA	-2.5%	-2.0%	-3.1%	-2.0%	4.0%	2.7%	5.2%	2.7%	3.8%	5.5%	6.6%
Debt ratio	96.5%	83.7%	87.4%	99.8%	96.8%	93.5%	101.7%	103.4%	102.8%	101.7%	102.4%

EPS

Annual · US$

EPS US$8.69

Show table：EPS

Item	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
EPS（US$）	—	—	—	—	6.04	4.22	—	3.21	4.44	6.22	8.69

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
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FAQ

Where can I read Dell Technologies Inc. (DELL) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 4 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
Back to US annual reports, or see the supply-chain maps.