Dell (DELL) Stock Analysis

October 26, 2026

This is a peer-relative look at Dell (DELL): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Technology Hardware & Equipment peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Dell (DELL)
Profile Item	DELL
Name	Dell Technologies Inc. Class C Common Stock
Country/Region	United States
GICS Sector	Information Technology
GICS Industry Group	Technology Hardware & Equipment
GICS Industry	Technology Hardware, Storage & Peripherals
GICS Sub-Industry	Technology Hardware, Storage & Peripherals
Market Capitalization	290.21 billion USD
Currency	USD
Exchange	NYSE
Listing Date	August 17, 2016
Security Type	Common Stock

Price Performance

Cumulative Growth

DELL

GSPC

Dell (DELL) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Dell (DELL) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Dell (DELL) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
Total Return (1Y)	199.07%	19.82%
Total Return (3Y, Annualized)	93.78%	27.72%
Total Return (5Y, Annualized)	54.02%	11.80%

Risk Profile

Drawdown History

DELL

GSPC

Dell (DELL) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Dell (DELL) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
Volatility (1Y, Annualized)	76.22%	54.02%
Beta (5Y)	1.43	1.40
Max Drawdown (5Y)	-59.59%	-55.50%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. DELL is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
Sharpe Ratio (1Y)	2.55	0.37
Sortino Ratio (1Y)	4.76	0.53

Profitability

ROE (TTM)

No usable ROE is available for Dell (DELL) this period, so the shareholder-equity return read is skipped.

DELL

Technology Hardware & Equipment industry group

Group distribution

Max: 44.01%
Q3: 18.70%
Median: 10.41%
Q1: 1.13%
Min: -24.95%
DELL: --

Largest peers

STX: 371.53%
AAPL: 148.75%
SNDK: 91.64%
APH: 38.12%
ANET: 31.48%
CSCO: 27.32%
DELL: --

Dell (DELL) doesn’t report ROE this period; the box shows the Technology Hardware & Equipment group’s distribution and the dots its largest members.

Net Margin (TTM)

Dell (DELL) keeps 7.53% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

DELL

Technology Hardware & Equipment industry group

7.53%

Group distribution

Max: 26.11%
Q3: 10.82%
DELL: 7.53%
Median: 3.75%
Q1: 0.00%
Min: -11.93%

Largest peers

SNDK: 56.47%
ANET: 38.37%
AAPL: 27.62%
STX: 26.11%
CSCO: 20.95%
APH: 17.73%
DELL: 7.53%

Where Dell (DELL) stands on net margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Dell (DELL) turns 12.02% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

DELL

Technology Hardware & Equipment industry group

12.02%

Group distribution

Max: 36.27%
Q3: 18.05%
DELL: 12.02%
Median: 7.45%
Q1: 2.33%
Min: -12.88%

Largest peers

SNDK: 78.47%
ANET: 45.39%
STX: 43.07%
AAPL: 32.62%
APH: 29.78%
CSCO: 27.72%
DELL: 12.02%

Where Dell (DELL) stands on operating margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
ROE (TTM)	--	10.41%
ROA (TTM)	8.64%	4.48%
Net Margin (TTM)	7.53%	3.75%
Operating Margin (TTM)	12.02%	7.45%
Gross Margin (TTM)	19.91%	38.95%

Growth

Revenue Growth

Dell (DELL) grew revenue 18.80%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Dell (DELL): Revenue Growth across different time periods, set against Technology Hardware & Equipment industry-group medians.

EPS Growth

Dell (DELL) grew earnings per share 36.05%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Dell (DELL): EPS Growth across different time periods, set against Technology Hardware & Equipment industry-group medians.

Growth Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
Revenue Growth (YoY)	18.80%	10.33%
Revenue Growth (3Y CAGR)	3.54%	2.70%
EPS Growth (YoY)	36.05%	14.18%
EPS Growth (3Y CAGR)	38.89%	3.15%

Financial Strength

Current Ratio (MRQ)

Dell (DELL) has current ratio of 0.96, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

DELL

Technology Hardware & Equipment industry group

0.96

Group distribution

Max: 5.34
Q3: 2.93
Median: 1.97
Q1: 1.26
DELL: 0.96
Min: 0.17

Largest peers

ANET: 2.96
SNDK: 2.29
APH: 1.89
STX: 1.67
AAPL: 1.00
DELL: 0.96
CSCO: 0.93

Where Dell (DELL) stands on current ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

No usable debt-to-equity ratio is available for Dell (DELL) this period, so the balance-sheet leverage read is skipped.

DELL

Technology Hardware & Equipment industry group

Group distribution

Max: 1.80
Q3: 0.82
Median: 0.27
Q1: 0.04
Min: 0.00
DELL: --

Largest peers

STX: 1.80
APH: 1.20
AAPL: 0.78
CSCO: 0.62
SNDK: 0.01
DELL: --
ANET: --

Dell (DELL) doesn’t report debt-to-equity ratio this period; the box shows the Technology Hardware & Equipment group’s distribution and the dots its largest members.

Financial Strength Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
Current Ratio (MRQ)	0.96	1.97
Debt / Equity (MRQ)	--	0.27
Net Debt / EBITDA	1.34	0.18

Dividends

Dividend Yield (TTM)

Dell (DELL) has dividend yield of 0.51%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

DELL

Technology Hardware & Equipment industry group

0.51%

Group distribution

Max: 0.63%
DELL: 0.51%
Q3: 0.30%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 1.58%
APH: 0.63%
DELL: 0.51%
STX: 0.46%
AAPL: 0.30%
ANET: 0.00%
SNDK: 0.00%

Where Dell (DELL) stands on dividend yield within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Dell (DELL) has payout ratio of 13.43%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

DELL

Technology Hardware & Equipment industry group

13.43%

Group distribution

Max: 37.88%
Q3: 18.11%
DELL: 13.43%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 49.85%
APH: 22.88%
STX: 21.15%
DELL: 13.43%
AAPL: 12.04%
ANET: 0.00%
SNDK: 0.00%

Where Dell (DELL) stands on payout ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
Dividend Yield (TTM)	0.51%	0.00%
Dividend Payout Ratio (TTM)	13.43%	0.00%

Valuation

P/E Ratio (TTM)

Dell (DELL) trades at P/E ratio of 26.54, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

DELL

Technology Hardware & Equipment industry group

26.54

Group distribution

Max: 72.65
Q3: 46.54
Median: 32.04
DELL: 26.54
Q1: 21.97
Min: 10.10

Largest peers

ANET: 58.63
STX: 45.36
AAPL: 39.88
APH: 37.05
CSCO: 31.98
DELL: 26.54
SNDK: 16.78

Where Dell (DELL) stands on P/E ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Dell (DELL) trades at 1.92 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

DELL

Technology Hardware & Equipment industry group

1.92

Group distribution

Max: 11.76
Q3: 6.83
Median: 2.76
DELL: 1.92
Q1: 1.06
Min: 0.00

Largest peers

ANET: 20.62
STX: 11.76
AAPL: 10.87
SNDK: 8.84
CSCO: 6.63
APH: 6.30
DELL: 1.92

Where Dell (DELL) stands on P/S ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Dell (DELL) has negative P/B ratio of -204.68, which means reported book equity is negative. Price-to-book breaks down in this situation and should not be used as a valuation signal.

DELL

Technology Hardware & Equipment industry group

-204.68

Group distribution

Max: 11.79
Q3: 5.95
Median: 3.41
Q1: 1.89
Min: 0.35
DELL: -204.68

Largest peers

STX: 65.99
AAPL: 47.25
ANET: 14.69
APH: 11.79
SNDK: 11.72
CSCO: 8.36
DELL: -204.68

Where Dell (DELL) stands on P/B ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Dell (DELL) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: DELL	Industry group median
P/E Ratio (TTM)	26.54	32.04
P/S Ratio (TTM)	1.92	2.76
P/B Ratio (MRQ)	-204.68	3.41
Free Cash Flow Yield (TTM)	2.08%	2.65%