Dell Technologies

DELL

Computer Hardware · Technology

Price

$396.40

+5.02 (+1.28%)

Market Cap

$263.31B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−13.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 791.0M (2022) → 683.9M (2026)

Dell Technologies makes personal computers, laptops, and servers that businesses and everyday people use to store, process, and share information. Its main products include Dell and Alienware PCs, PowerEdge servers, and data storage systems, sold to large corporations, governments, small businesses, and individual consumers. Dell is one of the largest PC and server makers in the world.

Dell makes money by selling hardware directly to customers, and also earns revenue through financing, software, and IT services like cloud management and technical support. The company operates globally, with a large share of revenue coming from North America and Europe, and generates roughly $90 billion in annual revenue. Dell has a strong position in enterprise infrastructure, but its low gross margin of around 19% leaves little room for error, and slowing corporate IT spending or rising competition from HP and Lenovo remains a key risk to watch.

Winston Score History

Politician Trades

19 trades / 12mo

7 Congressional buys and 12 sells on DELL in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+40.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+57.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$3.1B/ year

→ Flat (+3% vs prior year)

2.8% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

8.7%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$11.5B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Dell Technologies grew revenue 40% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

20.2%

Thin — 20.2% gross margin

Operating Margin

9.4%

Modest — 9.4% operating margin

ROCE

10.8%

Below par — 10.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+19.9%

Fast-growing sales (19.9% YoY)

EPS YoY

+66.4%

Earnings growing fast (66.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

138%

Turns 138% of profit into real cash

FCF Margin

5.4%

Thin free cash flow (5.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

N/A

—

Data not available

Interest Cover

7.45x

Adequate interest coverage (7.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

40.9x

Pricey — P/E 40.9

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+22.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (40.9 → 18.6)

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Dividends

Dividend Yield

0.54%

Small dividend — 0.54% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+19.1%

Dividend growing fast (19.1% YoY)

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