⚡What does Dell do, in 30 seconds?
Dell Technologies makes PCs, servers, storage and networking gear, and sells services and financing to go with them. It sold $113.5bn ✓ in FY2026, which ended on 30 January 2026 28. Servers, storage and networking made up 54% ✓ of that, now more than PCs.
📱What does Dell sell?
Dell has two main businesses, one for data-center gear and one for PCs, plus a small line of old businesses it is winding down. Here is what each one sells and who buys it.
Servers, storage & networking
Dell's biggest business, with FY2026 sales of $60.8bn ✓. It sells AI-optimized servers, traditional servers, networking and storage, plus software and services such as setup and support 2. Sales of AI-optimized servers rose 166% in FY2026, mainly because Dell sold more of them 3. Storage sales rose 1% 3.
👥 Businesses and cloud providers. Dell says its AI systems have so far been bought mainly by a small number of larger customers and cloud providers 4.
PCs & accessories
Dell laptops, desktops and workstations, plus displays, docking stations, keyboards, webcams and other add-ons, and support services 2. In FY2026 it brought in $51.0bn ✓. Dell says this business brings in strong cash flow and chances to sell other Dell products 2.
👥 Businesses and home users. In FY2026, sales to businesses were $44,062 million, against $6,922 million from consumers 3.
Other businesses
Old businesses Dell has sold or no longer actively sells: its past resale of VMware software and Secureworks 53. Dell sold Secureworks in February 2025 5. In FY2026 this line shrank to $1.7bn ✓, and Dell expects it to keep falling 53.
👥 Customers of businesses Dell has sold or stopped actively selling 53.
How the mix has shifted
Where the customers are
The United States brings in most of Dell's sales, at 56% ✓ in FY2026, or $63.1bn ✓. All other countries added 44% ✓.
💸How does Dell make money?
Follow the money from left to rightfrom top to bottom: what customers pay for, what it costs to make, and what is left as profit.
Dell sold $113.5bn ✓ of products and services in FY2026. Buying parts and building those machines cost $90.8bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $22.7bn ✓.
Next come the costs of running the company. Research and development took $3.1bn ✓, and sales, marketing and admin took $11.4bn ✓. What remains is operating profit, the profit from the main business, which was $8.1bn ✓. After interest and other items, and tax of $1.3bn ✓, net income was $5.9bn ✓. Put simply, out of every hundred dollars of sales, Dell kept about $5 ✓ as profit.
Out of every $100 customers paid in FY2026…
⏱️ Dell by the clock
Spread the FY2026 totals evenly over its 364 days and you get this. Source: Dell Technologies Inc. 10-K [6].
📈How is Dell doing?
Dell is growing fast right now. In FY2026 sales jumped 18.8% ✓, and sales of AI-optimized servers rose 166% 3. From FY2016 to FY2026, sales grew 8.4% ✓ a year on average. That period includes Dell's purchase of EMC and VMware in September 2016 32. Sales rose in 9 ✓ of the 10 ✓ yearly changes. Operating margin reached 7.2% ✓ in FY2026, up from -1.0% ✓ in FY2016.
The latest four quarters, to 31 July 2026, were even stronger. Sales reached $151.2bn ✓, up 49.0% ✓ on the four quarters before. Operating margin rose to 9.4% ✓. In the second quarter of FY2027, Dell took a record $60.9 billion of AI orders and reached a record AI backlog of $95 billion 25. It then raised its FY2027 sales outlook to $192 billion 25. Free cash flow was $8.6bn ✓ in FY2026.
📝 The report card
Dell earns low marks (D) on all five measures. The reasons are thin margins, more debt than cash, slow growth over the last 3 years and big swings in growth from year to year. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Dell (orange) and its 5 peers land; further right is better.
Growth
Dell's sales grew 3.5% ✓ a year over its last three fiscal years, which earns a D ✓ on the fixed scale. That window includes FY2024, when growth was -13.6% ✓. Super Micro grew 76.3% ✓ a year over its own three years, good for an A ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Dell kept 6.7% ✓ of sales as operating profit, which earns a D ✓. HP Inc. is close at 6.4% ✓, while NetApp keeps 21.4% ✓. NetApp sells storage systems run by its own ONTAP software 10.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Dell turned 5.5% ✓ of sales into free cash flow, just enough for a D ✓. FY2025 was weak at 2.0% ✓, but FY2026 recovered to 7.5% ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
At the end of FY2026, Dell's cash and investments minus its borrowings (leases not counted) came to -17.6% ✓ of a year's sales, a D ✓. Dell still owes more than it holds, but the gap narrowed from -$43.8bn ✓ in FY2019 to -$20.0bn ✓ in FY2026. By 31 July 2026 it had widened again to -$22.9bn ✓. Dell also lends to customers: it held $14.3 billion of financing owed by customers at 30 January 2026 12.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Dell's yearly growth swings a lot, with a standard deviation of 12.3% ✓, which earns a D ✓. Growth hit 27.1% ✓ in FY2018, then dropped to -13.6% ✓ in FY2024.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Dell compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
Over the 11 fiscal years from FY2016 to FY2026, Dell handed back less cash than it generated. It spent $37.6bn ✓ on buybacks and dividends, against $54.9bn ✓ of free cash flow. Much of that came in one unusual year, FY2019, with $14.1bn ✓ of buybacks and $2.1bn ✓ of dividends. VMware was then still part of Dell, which spun it off in 2021 32. Dividends were $0.0bn ✓ in FY2022, then $1.0bn ✓ in FY2023. In FY2026, payouts equalled 87% ✓ of free cash flow. Dell called its FY2026 payout of $7.5 billion a record 31.
🧮Ratios 101: what are Dell's key financial ratios?
Ratios shrink Dell's giant numbers into easy comparisons, and they show a company that sells a lot but keeps only a little of each dollar. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Dell's real FY2026 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 20.0% ✓, up from 16.5% ✓ in FY2016, Dell trails the 30.3% ✓ peer median. Apple at 46.9% ✓ and NetApp at 70.7% ✓ sit far above it. Dell says its AI-optimized servers carry a lower gross margin rate 3.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Dell's 7.2% ✓ is in line with the 7.1% ✓ peer median and far above its own -1.0% ✓ of FY2016.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Dell keeps 5.2% ✓ of sales as final profit, up from -2.2% ✓ in FY2016 but a bit below the 5.7% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 5.9% ✓ is up from -2.4% ✓ in FY2016 but below the 7.4% ✓ peer median.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Dell's sales are 1.1x ✓ the value of everything it owns, the same as 1.1x ✓ in FY2016 and close to the 1.2x ✓ peer median.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 Dell holds 42 ✓ days of stock, up from 14 ✓ in FY2016 but well below the 71 ✓ peer median.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 Dell's 0.9x ✓ matches its 0.9x ✓ of FY2016 and sits near the 1.0x ✓ peer median.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Operating profit covers interest 5.2x ✓, up from -0.8x ✓ in FY2016 but below the 10.8x ✓ peer median.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Dell turns profit into cash at 1.4x ✓, above the 1.1x ✓ peer median and close to 1.5x ✓ in FY2020.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
R&D intensity
How much of each sales dollar goes into inventing future products.
👉 Dell spends 2.8% ✓ of sales on R&D, up from 2.1% ✓ in FY2016 but well below the 7.3% ✓ peer median.
📏 Rule of thumb: Tech companies often spend 10% to 20%; more is not always better if it does not pay off.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is just 0.6% ✓ of sales, below the 1.9% ✓ peer median, though up from 0.1% ✓ in FY2016.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Dell returned 125.9% ✓ of FY2026 profit to shareholders, above the 94.8% ✓ peer median and up from 0.2% ✓ in FY2020.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Dell's competitors?
Dell fights in two arenas at once. In PCs it meets HP Inc. and Apple, and in data-center gear it meets Hewlett Packard Enterprise, Super Micro and NetApp.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Dell Technologies (DELL, FY2026) | PCs, servers, storage, networking, services and customer financing 2 2 12 | $113.5bn | 3.5% | 7.2% | 7.5% |
| HP Inc. (HPQ, FY2025) | Business and home PCs; HP names Dell among the main rivals of its PC business 132 | $55.3bn | -4.2% | 5.7% | 5.1% |
| Hewlett Packard Enterprise (HPE, FY2025) | Servers, including AI servers, storage and networking; HPE names Dell as a main rival in servers, storage and IT financing 1415 | $34.3bn | 6.4% | -1.3% | 1.8% |
| Super Micro Computer (SMCI, FY2026) | Data-center and AI servers; Super Micro names Dell among its principal rivals 162 | $39.1bn | 76.3% | 7.1% | -17.8% |
| NetApp (NTAP, FY2026) | Enterprise data storage run by its ONTAP software, on site and in the public clouds 317 | $6.9bn | 2.9% | 24.2% | 27.0% |
| Apple (AAPL, FY2025) | Laptops and desktops: Apple's Mac line competes with Dell's notebooks, desktops and workstations 21813 | $416.2bn | 1.8% | 32.0% | 23.7% |
In PCs, HP also names Lenovo, Acer and ASUS among its main rivals 132. In servers, Super Micro also names Cisco, Lenovo and contract makers such as Foxconn and Quanta 162. Dell says large cloud providers often buy servers directly from contract design makers 22.
🧭Dell SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- Dell names its end-to-end range of products, its sales reach, its supply chain and its global services as its competitive advantages 22.
- Dell reported a record $95 billion AI backlog on 1 September 2026 25.
- Partners brought in about 40% of FY2026 sales, and Dell calls its own direct sales channel a significant competitive advantage 4.
- Dell had about $132 billion of contracted sales not yet counted as revenue at 31 July 2026 23.
- Services keep 44.8% ✓ of their sales as gross profit, a richer stream than hardware.
🩹 Weaknesses
- Products keep only 13.7% ✓ of sales as gross profit. Dell says AI-optimized servers carry a lower gross margin rate 3.
- One customer made up 12% of FY2026 sales 4.
- Dell still owes more than it holds: cash and investments minus borrowings (leases not counted) came to -$22.9bn ✓ at 31 July 2026.
- Consumer PC sales fell 8% in FY2026, on lower prices and fewer units sold 3.
🚀 Opportunities
- In November 2025, Dell said its pipeline of AI deals spanned newer cloud firms, sovereign (national) buyers and businesses 26.
- In the second quarter of FY2027, traditional server and networking sales rose 122% and storage sales rose 26% from a year earlier 25.
- Business PC sales rose 22% in the same quarter 25. Dell said a PC refresh cycle lifted demand for its business PCs in FY2026 3.
- Dell expects AI to help its PC business over the long term, as customers will need PCs that can run complex AI work 2.
⚠️ Threats
- Dell expects component costs to keep rising notably through the rest of FY2027 2728.
- Dell faces product and price competition from branded and generic rivals, and large cloud providers often buy servers directly from contract design makers 22.
- Tariffs and other trade limits could raise Dell's costs, push up prices and reduce demand 22.
- Large AI orders may arrive in some periods and not others, and they face intense pricing pressure 22.
🏰Does Dell have a moat?
Why 3?
Dell counts its Dell and Alienware names and logos as material to its business 21. Business PC sales rose 8% in FY2026, though consumer PC sales fell 8% 3. Traditional server and networking sales rose 9%, helped by richer setups, even as fewer units were sold 3. But Dell faces price competition from branded and generic rivals in all its businesses 22.
Why 2?
Dell serves its biggest customers through dedicated account teams that build long-term relationships 4. Its financing arm funded $11.9 billion of new customer financing in FY2026 12. Dell had about $132 billion of contracted sales still to count as revenue at 31 July 2026 23. But its AI systems have so far gone mainly to a few large buyers 4, and rivals compete on price in all its businesses 22.
Why 3?
Dell describes its supply chain as one of the world's largest 24, and supplier rebates, largely based on volume, lower what it pays for parts 24. It owns plants in the US, Malaysia, China, Brazil, India, Poland and Ireland, and also uses contract makers, mainly in Asia 24. AI-optimized server sales rose 166% in FY2026, mainly on more units sold 3. Dell names its supply chain among its competitive advantages 22.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Dell; grey dots are peers).
🔭What should you watch next?
Third-quarter FY2027 results
Dell guided third-quarter FY2027 sales to $49.0 billion, up 81% from a year earlier 25.
PC refresh cycle
Dell said a PC refresh cycle was under way in FY2026, and it expects modest growth in its PC business in FY2027, partly from that refresh 3.
New chief legal officer
Christopher Garcia becomes chief legal officer when Richard Rothberg retires from the role 34.
📚Learn the words
❓Frequently asked questions about Dell
How does Dell make money?
Dell makes most of its money selling hardware, mainly servers and PCs. In FY2026, servers, storage and networking brought in $60.8bn ✓ and PCs $51.0bn ✓. It also sells services such as setup and support, and lets customers pay over time 2 12.
Is Dell still mainly a PC company?
No, not any more by sales. Servers, storage and networking made up 54% ✓ of FY2026 sales, against 45% ✓ for PCs. In FY2024, PCs had been 55% ✓.
Why are Dell's profit margins so thin if AI is booming?
Out of every $100 of FY2026 sales, Dell kept only about $5 ✓ as profit. Dell says AI-optimized servers carry a lower gross margin rate 3, and that large AI orders face intense pricing pressure 22.
Does Dell make its own chips?
No. Dell buys all of its components, and many finished products, from outside suppliers 24. Its own plants in the US, Malaysia, China, Brazil, India, Poland and Ireland build its products, while contract makers, mainly in Asia, assemble large parts of them 24.
Who runs and controls Dell?
Michael Dell is chairman and CEO 29. He and a trust of his wife together held more than half of Dell's votes at 9 March 2026, which makes Dell a controlled company under NYSE rules 22. Its Class A and Class B shares carry ten votes each, while the Class C shares traded on the NYSE carry one 2230.
Who are Dell's biggest competitors?
Dell's rivals include HP in PCs 132, and Hewlett Packard Enterprise and Super Micro in servers 1415 162. HP and Super Micro both also name Lenovo as a main rival 132 162. Large cloud providers often buy servers directly from contract design makers 22.
Does Dell pay a dividend?
Yes, Dell pays a quarterly dividend 25. It paid $1.5bn ✓ in dividends in FY2026. In February 2026 it raised its dividend by 20% 31. On 1 September 2026 it declared a dividend of $0.63 a share 25.
How did Dell start?
Michael Dell started the company as PC's Limited in 1984, with $1,000, while a freshman at the University of Texas 32. Its first share sale in 1988 raised $30 million 32. In 2013 Michael Dell and Silver Lake took Dell private, and its Class C shares began trading on the NYSE in 2018 32.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [6] [8] [19] [7] [9] [20].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. Which Dell business brought in the most sales in FY2026?
2. How did Michael Dell start his company in 1984?
3. In 1992 Dell joined the Fortune 500 list. How old was Michael Dell, then the youngest CEO on it?
4. Which earns Dell more gross profit per dollar of sales?
5. Besides Dell itself, which brand name does Dell call material to its business?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials are taken from SEC filings (10-K and 10-Q) as tagged in XBRL. Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Dell Technologies (DELL) Form 10-K for fiscal year 2026, filed 2026-03-16 — revenue and cost of sales by product, segment and geography (accessed 2026-10-28)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 and Note 18: ISG and CSG segment descriptions, product categories, CSG strategy (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 7 MD&A: ISG and CSG revenue by product category FY2024-FY2026, segment operating income, drivers and FY2027 outlook (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 customers and sales channels; Item 1A AI customer base; Note on largest customer (12% of FY2026 revenue) (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 and Item 7: other businesses (VMware Resale, Secureworks sale) (accessed 2026-10-29)
- SEC EDGAR companyfacts: Dell Technologies (DELL) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Super Micro Computer, Inc. (SMCI) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: HP INC (HPQ) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: NetApp, Inc. (NTAP) — annual 10-K facts (accessed 2026-10-28)
- NetApp, Inc. Form 10-K, fiscal 2026 (Item 1, Business) — ONTAP software, cloud services, sales channels, manufacturing and R&D (accessed 2026-10-29)
- SEC EDGAR companyfacts: Dell Technologies (DELL) — balance sheet at 2026-07-31 (accessed 2026-10-28)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 and Item 7: Dell Financial Services and Dell Payment Solutions (accessed 2026-10-29)
- HP Inc. Form 10-K for fiscal year 2025 (filed 2025-12) — Item 1 competition: Personal Systems primary competitors (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 1 competition (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 — Infrastructure Solutions Group offerings (accessed 2026-10-29)
- Super Micro Computer Form 10-K for fiscal year 2026 (filed 2026-08) — Item 1 competition: principal competitors (accessed 2026-10-29)
- NetApp Form 10-K for fiscal year 2026 (filed 2026-06) — Item 1 business overview: ONTAP data management software and flash storage, on premises and in public clouds (accessed 2026-10-29)
- Apple Inc. Form 10-K for fiscal year 2025 (filed 2025-10-31) — Item 1 products: Mac line of personal computers (accessed 2026-10-29)
- SEC EDGAR companyfacts: Hewlett Packard Enterprise Co (HPE) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Apple Inc. (AAPL) — annual 10-K facts (accessed 2026-10-28)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 patents and trademarks (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 competition; Item 1A risk factors (competition, AI orders, trade measures, controlled company, share classes) (accessed 2026-10-29)
- Dell Technologies Form 10-Q for the quarter ended 2026-07-31 (filed 2026-09-08) — Note on revenue: remaining performance obligations at 2026-07-31 (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 supply chain and manufacturing; Item 7 vendor rebates; Item 1A suppliers and contract manufacturers (accessed 2026-10-29)
- Dell Technologies Form 8-K exhibit 99.1: second quarter fiscal 2027 results (2026-09-01) — Q2 FY2027 AI orders, revenue and backlog; segment growth; capital return; Q3 and full-year FY2027 guidance (accessed 2026-10-29)
- Dell Technologies Form 8-K exhibit 99.1: third quarter fiscal 2026 results (2025-11-25) — Q3 FY2026 AI orders and backlog; AI customer mix; permanent CFO appointment (accessed 2026-10-29)
- Dell Technologies Form 10-Q for the quarter ended 2026-07-31 (filed 2026-09-08) — Item 2 MD&A business trends: memory costs and supply, gross margin and pricing (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Cover and Item 1: headquarters, fiscal year, vision, employees (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 (filed 2026-03-16) — Item 1 information about executive officers (Michael Dell, Jeff Clarke) (accessed 2026-10-29)
- Dell Technologies Form 8-K (event 2026-06-25, filed 2026-07-01) — Change of state of incorporation from Delaware to Texas effective 2026-07-01 (accessed 2026-10-29)
- Dell Technologies Form 8-K exhibit 99.1: fourth quarter and full-year fiscal 2026 results (2026-02-26) — FY2026 AI orders, shipments and backlog; dividend increase; share repurchase authorization; capital returned (accessed 2026-10-29)
- Dell Technologies: How we got here (company timeline) — Company history: founding 1984, IPO 1988, Fortune 500 1992, web sales 1996, private 2013, EMC 2016, NYSE return 2018, VMware spin-off 2021 (accessed 2026-10-29)
- SEC EDGAR companyfacts: Dell Technologies (DELL) — quarterly 10-Q/10-K facts (accessed 2026-10-28)
- Dell Technologies Form 8-K (filed 2026-10-21) — General counsel retirement and successor effective 2027-02-01 (accessed 2026-10-29)