Dell Technologies income statement

In fiscal 2026, Dell Technologies reported revenue of $113.54bn, up 18.8% on the year before, operating income of $8.15bn (a 7.2% margin) and net income of $5.94bn, or $8.68 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Dell Technologies: income statement, annual
Fiscal year	2015Jan 2015	2016Jan 2016	2017Feb 2017	2018Feb 2018	2019Feb 2019	2020Jan 2020	2021Jan 2021	2022Jan 2022	2023Feb 2023	2024Feb 2024	2025Jan 2025	2026Jan 2026	LTMJul 2026
Revenue	54.1	50.9	62.2	79.0	90.6	84.8	86.7	101.2	102.3	88.4	95.6	113.5	151.2
Cost of revenue	45.2	42.5	48.5	58.5	65.6	64.2	66.5	79.3	79.6	67.4	74.3	90.8	121.3
Gross profit	8.9	8.4	13.6	20.5	25.1	20.6	20.1	21.9	22.7	21.1	21.3	22.7	29.9
Research and development	0.9	1.1	2.6	4.4	4.6	2.5	2.5	2.6	2.8	2.8	3.1	3.1	3.6
Selling, general and administrative	8.3	7.9	13.4	18.6	20.6	15.8	14.0	14.7	14.1	12.9	12.0	11.4	12.0
Operating income	−0.3	−0.5	−2.4	−2.4	−0.2	2.4	3.7	4.7	5.8	5.4	6.2	8.1	14.3
Interest expense	0.8	0.7	1.8	2.4	2.5	2.3	2.1	1.5	1.2	1.5	1.4	1.6	1.6
Provision for credit losses	—	—	—	—	0.1	0.1	0.2	—	—	—	—	—	—
Income before tax	−1.2	−1.3	−4.5	−4.8	−2.4	−0.1	2.3	5.9	3.2	4.1	5.0	7.3	13.8
Income tax	−0.1	−0.1	−1.4	−1.8	−0.2	−0.6	0.1	1.0	0.8	0.7	0.5	1.3	2.4
Net income	−1.2	−1.1	−1.2	−2.8	−2.3	4.6	3.3	5.6	2.4	3.4	4.6	5.9	11.4
Diluted EPS	—	—	—	—	—	$6.03	$4.22	—	$3.24	$4.60	$6.38	$8.68	$17.14
Diluted shares (average)	—	—	—	—	—	751m	767m	791m	753m	736m	720m	684m	664m
EBITDA	2.7	2.4	2.5	6.2	7.6	8.5	9.1	9.2	8.9	8.7	9.4	11.2	17.3

US$ billions unless shown otherwise. Fiscal quarters.

Dell Technologies: income statement, quarterly
Quarter	2025 Q3Nov 2024	2025 Q4Jan 2025	2026 Q1May 2025	2026 Q2Aug 2025	2026 Q3Oct 2025	2026 Q4Jan 2026	2027 Q1May 2026	2027 Q2Jul 2026
Revenue	24.4	23.9	23.4	29.8	27.0	33.4	43.8	47.0
Cost of revenue	19.0	18.3	18.4	24.3	21.4	26.6	36.1	37.1
Gross profit	5.4	5.7	4.9	5.4	5.6	6.7	7.8	9.8
Research and development	0.7	0.8	0.8	0.8	0.8	0.8	1.0	1.1
Selling, general and administrative	2.9	2.7	3.0	2.9	2.7	2.8	3.1	3.3
Operating income	1.7	2.2	1.2	1.8	2.1	3.1	3.7	5.4
Interest expense	0.3	0.3	0.4	0.4	0.4	0.4	0.4	0.4
Income before tax	1.4	2.0	1.1	1.4	1.9	2.8	3.9	5.1
Income tax	0.3	0.4	0.1	0.3	0.4	0.5	0.5	1.0
Net income	1.2	1.5	1.0	1.2	1.5	2.3	3.4	4.1
Diluted EPS	$1.64	$2.15	$1.37	$1.70	$2.28	$3.34	$5.24	$6.34
EBITDA	2.5	2.9	1.9	2.5	2.9	3.9	4.4	6.1

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Dell Technologies's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Dell Technologies.