Stock Analysis on Net
Stock Analysis on Net

Dell Technologies Inc. (NYSE:DELL)

Common-Size Income Statement

Dell Technologies Inc., common-size consolidated income statement

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12 months ended: Jan 31, 2025 Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020
Products 74.73 72.78 77.47 78.89 74.20 75.87
Services 25.27 27.22 22.53 21.11 25.80 24.13
Net revenue 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Products -62.95 -60.30 -64.54 -66.43 -58.74 -59.17
Services -14.81 -16.10 -13.28 -11.94 -10.04 -9.44
Cost of net revenue -77.76% -76.40% -77.82% -78.37% -68.78% -68.60%
Gross margin 22.24% 23.60% 22.18% 21.63% 31.22% 31.40%
Selling, general, and administrative -12.51 -14.54 -13.82 -14.48 -20.16 -23.13
Research and development -3.20 -3.17 -2.72 -2.55 -5.60 -5.42
Operating expenses -15.71% -17.71% -16.53% -17.03% -25.76% -28.55%
Operating income 6.53% 5.89% 5.64% 4.60% 5.46% 2.85%
Investment income, primarily interest 0.17 0.34 0.10 0.04 0.06 0.17
Gain (loss) on investments, net 0.19 0.05 -0.20 0.56 0.62 0.21
Interest expense -1.46 -1.70 -1.19 -1.52 -2.54 -2.90
Foreign exchange -0.12 -0.23 -0.26 -0.22 -0.13 -0.18
Gain on disposition of businesses and assets 0.00 0.00 0.00 3.92 0.00 0.00
Legal settlement, net 0.00 0.00 -0.87 0.00 0.00 0.00
Other -0.02 0.03 -0.06 -1.53 0.43 -0.16
Interest and other, net -1.24% -1.50% -2.49% 1.25% -1.56% -2.85%
Income (loss) before income taxes 5.28% 4.40% 3.15% 5.85% 3.89% 0.00%
Income tax (expense) benefit -0.49 -0.78 -0.78 -0.97 -0.18 6.00
Net income from continuing operations 4.79% 3.61% 2.37% 4.88% 3.72% 6.00%
Income from discontinued operations, net of income taxes 0.00 0.00 0.00 0.76 0.00 0.00
Net income 4.79% 3.61% 2.37% 5.64% 3.72% 6.00%
Net (income) loss attributable to non-controlling interests 0.02 0.02 0.02 -0.14 -0.27 -0.99
Net income attributable to Dell Technologies Inc. 4.81% 3.63% 2.39% 5.50% 3.45% 5.01%

Based on: 10-K (reporting date: 2025-01-31), 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).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Dell Technologies Inc. operating income as a percentage of net revenue increased from 2023 to 2024 and from 2024 to 2025.
Income (loss) before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Dell Technologies Inc. income (loss) before income taxes as a percentage of net revenue increased from 2023 to 2024 and from 2024 to 2025.
Net income attributable to Dell Technologies Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Dell Technologies Inc. net income attributable to Dell Technologies Inc. as a percentage of net revenue increased from 2023 to 2024 and from 2024 to 2025.