Stock

Dell Technologies

DELL
62
Computer Hardware · Technology
Price
$451.54
-21.85 (-4.62%)
Market Cap
$287.09B
Winston Score
62
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 18, 2026 · filings through Jul 31, 2026

§How the score breaks down

Quality
Mixed
13/30
Growth
Exceptional
19/20
Cash Flow
Strong
8/10
Stability
Mixed
4/10
Valuation
Strong
7/10
Ownership
Good
8/15
Dividends
Good
3/5

62 of 100 counted points = Winston Score 62.

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)

§Winston Score History

The full picture

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.

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Growth Profile

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

Revenue Growth

+57.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+272.7% 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

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$14.2B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Dell Technologies grew revenue 58% 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

Profit per sale
Gross Margin
20.9%
Thin — 20.9% gross margin
Profit after running costs
Operating Margin
11.5%
Modest — 11.5% operating margin
Return on the money invested
ROCE
16.3%
Strong — 16.3% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+49.2%
Fast-growing sales (+49.2% YoY)
Profit growth
EPS YoY
+152.7%
Earnings growing fast (+152.7% YoY)

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

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
148%
Turns 148% of profit into real cash
Spare cash per sale
FCF Margin
7.0%
Modest free cash flow (7.0%)

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

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Stability

What it owes vs what it owns
Debt / Equity
N/A
—
Data not available
Covers its interest
Interest Cover
9.89x
Comfortably covers interest (9.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
25.8x
Growth-priced — P/E 25.8

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+7.8
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (25.8 → 18.0)

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Dividends

Dividend
Dividend Yield
0.46%
Small dividend — 0.46% yield

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

Dividend record
Dividend Growth
+19.6%
Dividend growing fast (19.6% YoY)
Payout Ratio
14%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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