DELL
Dell Technologies Inc.

Dell Technologies Inc.DELL

Technology · Computer Hardware
328.53USD
+3.67%
Nov 09, 2026
DELL overview ready
Supplier of AI-optimized servers and integrated infrastructure systems
Dell is a systems-level infrastructure provider that assembles, validates, sells and supports AI-optimized server platforms and associated storage, networking and services for enterprise and large-scale AI deployments.
Primary theme is lagging
AI Infrastructure is lagging (-29.6pp vs SPY over 21 sessions; 0 of 16 members ahead of SPY).
Price trend is broken
Longer-term context reads extended trend, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
High leverage with $22.9B net debt.
Market Nov 6Filing Jul 31Price action Nov 8Research Jul 29

Conviction Level

PriceAction3.4BusinessPerformance—BusinessQuality7.6Valuation5.1ThemeMomentum1.0A revenue trend needs at least three unbroken comparable quarters, so none is read here.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−29.6pp
Theme return
−34.5%
Beating SPY
0 of 16
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads extended trend, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$210.3B
Avg Volume (60D)
7.6M
60 sessions
Revenue Growth YoY
+18.8%
FY2026 vs FY2025
Gross Margin
+19.8%
Trailing twelve months
Operating Margin
+9.4%
Trailing twelve months
Free Cash Flow Yield
+4.1%
Distance from 200DMA
-2.4%
Next Earnings
2026-11-24
P/E
18.5x
EV / EBITDA
13.5x
EV / Sales
1.5x
Market metrics as of Nov 6, 2026
Financial results for the period ended Jul 31, 2026
Filed balance-sheet data as of Jul 31, 2026

Business Performance

Insufficient evidence

A revenue trend needs at least three unbroken comparable quarters, so none is read here.

Latest reported: Q2 FY2027, ended Jul 31
Revenue growthNot enough data
+58%
$47.0B in Q2 FY2027 · YoY
YoY growth, last 4 quarters
  1. +19%
  2. +11%
  3. +88%
  4. +58%
Earnings growthGrowing
+273%
Diluted EPS $6.34 vs $1.70 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +38%
  2. n/a
  3. +283%
  4. +273%
Operating marginExpanding
11.5%
+5.5 pp YoY · gross margin 20.9% (+2.6 pp)

Business Quality

7.6 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Both valuation perspectives agree this company is fair.
Dell Technologies Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Dell is a systems-level infrastructure provider that assembles, validates, sells and supports AI-optimized server platforms and associated storage, networking and services for enterprise and large-scale AI deployments.
Opportunity
Moderate opportunity
Hyperscaler, cloud-provider and enterprise capital spending on accelerator-dense servers, integrated racks, storage and related systems needed to deploy AI training and inference capacity.
Key risk
High leverage with $22.9B net debt.

Economic classification

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Business & Markets

Technology · Computer Hardware
What they do

Dell Technologies Inc. designs, manufactures, markets, sells, and supports integrated computing solutions globally through its Infrastructure Solutions Group and Client Solutions Group segments.

How it earns

Primarily transactional sales of hardware, software, and related services with some recurring revenue from support and software subscriptions.

Products & services
AI-optimized servers
Storage solutions
Networking products
Client computing devices
Customers & end markets
Enterprise customers
Hyperscalers and cloud providers
Large-scale AI deployments
Market position

Leader in integrated infrastructure solutions for enterprise and AI workloads.

Demand drivers
Medium cyclicality

Demand is influenced by enterprise IT budgets and capital expenditure cycles, especially in AI and cloud infrastructure.