Dell Technologies vs HP
Dell Technologies is the larger business, with $113.54bn of revenue in fiscal 2026 against $55.30bn for HP (2.1 times as much). Dell Technologies grew faster (18.8% against 3.2%). Dell Technologies kept more of each dollar of sales as profit: a net margin of 5.2% against 4.6%.
| Latest fiscal year | Dell TechnologiesDELL, 2026 | HPHPQ, 2025 |
|---|---|---|
| Revenue | $113.54bn | $55.30bn |
| Revenue growth | 18.8% | 3.2% |
| Net income | $5.94bn | $2.53bn |
| Operating margin | 7.2% | 5.7% |
| Net margin | 5.2% | 4.6% |
| Return on equity | — | — |
| Free cash flow | $8.55bn | $2.80bn |
| Cash | $11.53bn | $3.69bn |
| Total debt | $31.50bn | $9.72bn |
| Debt to equity | — | — |
| Dividend per share | $2.10 | $1.16 |
| Dividend yield | 0.6% | 4.3% |
| Share buybacks | $6.01bn | $850m |
| Employees | 97,000 | 55,000 |
| Market value | $260.54bn | $25.16bn |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | 45 (Weak) | 64 (Moderate) |
| Insider trades, 12 months | 0 buys, 2709 sales | 0 buys, 11 sales |