Analysis of Income Taxes
- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
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- Income Statement
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2019
- Total Asset Turnover since 2019
- Price to Operating Profit (P/OP) since 2019
- Price to Book Value (P/BV) since 2019
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Income Tax Expense (Benefit)
Dell Technologies Inc., income tax expense (benefit), continuing operations
US$ in millions
| 12 months ended: | Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | |||||||
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| Income tax expense (benefit) |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
| Item | Description | The company |
|---|---|---|
| Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Dell Technologies Inc. current increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
| Deferred | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Dell Technologies Inc. deferred decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level. |
| Income tax expense (benefit) | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Dell Technologies Inc. income tax expense (benefit) decreased from 2022 to 2023 and from 2023 to 2024. |
Effective Income Tax Rate (EITR)
Dell Technologies Inc., effective income tax rate (EITR) reconciliation
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
| Item | Description | The company |
|---|---|---|
| Effective tax rate | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Dell Technologies Inc. effective tax rate increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level. |
Components of Deferred Tax Assets and Liabilities
Dell Technologies Inc., components of deferred tax assets and liabilities
US$ in millions
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
| Item | Description | The company |
|---|---|---|
| Deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Dell Technologies Inc. deferred tax assets increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level. |
| Deferred tax assets, net of valuation allowance | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Dell Technologies Inc. deferred tax assets, net of valuation allowance increased from 2022 to 2023 but then slightly decreased from 2023 to 2024. |
| Net deferred tax assets (liabilities) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Dell Technologies Inc. net deferred tax assets (liabilities) increased from 2022 to 2023 and from 2023 to 2024. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Dell Technologies Inc., adjustments to financial statements
US$ in millions
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
Dell Technologies Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Dell Technologies Inc., adjusted financial ratios
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Dell Technologies Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Dell Technologies Inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Dell Technologies Inc. adjusted ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Dell Technologies Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
2024 Calculations
1 Net profit margin = 100 × Net income (loss) attributable to Dell Technologies Inc. ÷ Net revenue
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to Dell Technologies Inc. ÷ Net revenue
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Dell Technologies Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
2024 Calculations
1 Total asset turnover = Net revenue ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net revenue ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Dell Technologies Inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
2024 Calculations
1 Financial leverage = Total assets ÷ Total Dell Technologies Inc. stockholders’ equity (deficit)
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Dell Technologies Inc. stockholders’ equity (deficit)
= ÷ =
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
2024 Calculations
1 ROE = 100 × Net income (loss) attributable to Dell Technologies Inc. ÷ Total Dell Technologies Inc. stockholders’ equity (deficit)
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income (loss) attributable to Dell Technologies Inc. ÷ Adjusted total Dell Technologies Inc. stockholders’ equity (deficit)
= 100 × ÷ =
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
2024 Calculations
1 ROA = 100 × Net income (loss) attributable to Dell Technologies Inc. ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income (loss) attributable to Dell Technologies Inc. ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Dell Technologies Inc. adjusted ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |