Stock Analysis on Net
Stock Analysis on Net

Dell Technologies Inc. (NYSE:DELL)

Common-Size Income Statement 
Quarterly Data

Dell Technologies Inc., common-size consolidated income statement (quarterly data)

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3 months ended: Nov 1, 2024 Aug 2, 2024 May 3, 2024 Feb 2, 2024 Nov 3, 2023 Aug 4, 2023 May 5, 2023 Feb 3, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 May 1, 2020 Jan 31, 2020 Nov 1, 2019 Aug 2, 2019 May 3, 2019
Products 75.06 75.74 72.50 72.36 72.95 73.84 71.87 76.03 76.61 78.75 78.36 80.27 79.39 78.11 77.41 75.77 73.89 73.62 73.24 73.11 76.54 77.49 76.47
Services 24.94 24.26 27.50 27.64 27.05 26.16 28.13 23.97 23.39 21.25 21.64 19.73 20.61 21.89 22.59 24.23 26.11 26.38 26.76 26.89 23.46 22.51 23.53
Net revenue 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Products -63.78 -64.25 -61.89 -60.01 -60.88 -61.05 -59.15 -62.89 -63.11 -66.87 -65.13 -68.82 -67.49 -64.87 -63.90 -59.07 -58.72 -58.64 -58.47 -58.25 -59.35 -59.43 -59.70
Services -14.44 -14.53 -16.51 -16.17 -15.99 -15.46 -16.87 -14.12 -13.81 -12.54 -12.72 -11.11 -11.57 -12.50 -12.80 -9.73 -10.36 -9.88 -10.23 -9.77 -9.46 -9.22 -9.28
Cost of net revenue -78.22% -78.78% -78.39% -76.18% -76.86% -76.51% -76.02% -77.01% -76.91% -79.42% -77.85% -79.93% -79.06% -77.37% -76.70% -68.80% -69.08% -68.52% -68.70% -68.03% -68.81% -68.65% -68.97%
Gross margin 21.78% 21.22% 21.61% 23.82% 23.14% 23.49% 23.98% 22.99% 23.09% 20.58% 22.15% 20.07% 20.94% 22.63% 23.30% 31.20% 30.92% 31.48% 31.30% 31.97% 31.19% 31.35% 31.03%
Selling, general, and administrative -11.88 -12.74 -14.04 -13.93 -13.35 -15.34 -15.59 -15.06 -13.22 -13.41 -13.60 -12.14 -14.52 -15.55 -16.19 -17.54 -20.32 -20.94 -22.31 -23.48 -22.01 -23.87 -23.15
Research and development -3.06 -3.12 -3.43 -3.21 -3.11 -3.07 -3.29 -3.18 -2.74 -2.37 -2.61 -2.18 -2.46 -2.88 -2.74 -5.33 -5.79 -5.54 -5.78 -5.51 -5.52 -5.26 -5.37
Operating expenses -14.93% -15.86% -17.47% -17.14% -16.46% -18.41% -18.87% -18.24% -15.96% -15.78% -16.21% -14.32% -16.98% -18.43% -18.93% -22.86% -26.11% -26.48% -28.09% -28.99% -27.53% -29.13% -28.51%
Operating income 6.85% 5.36% 4.14% 6.68% 6.68% 5.08% 5.11% 4.75% 7.13% 4.81% 5.94% 5.75% 3.96% 4.20% 4.37% 8.34% 4.81% 5.00% 3.21% 2.98% 3.66% 2.22% 2.51%
Interest and other, net -1.13 -1.41 -1.68 -0.91 -1.38 -1.97 -1.74 -1.06 -5.29 -2.40 -1.29 -5.92 13.25 -1.21 -1.27 -2.09 1.16 -2.80 -2.58 -2.60 -2.96 -2.70 -3.16
Income (loss) before income taxes 5.71% 3.95% 2.46% 5.77% 5.30% 3.11% 3.37% 3.69% 1.84% 2.40% 4.64% -0.17% 17.21% 3.00% 3.09% 6.25% 5.97% 2.20% 0.62% 0.38% 0.70% -0.47% -0.65%
Income tax (expense) benefit -1.09 -0.59 1.83 -0.58 -0.79 -1.13 -0.61 -1.27 -0.86 -0.49 -0.55 0.07 -3.27 -0.40 -0.18 -1.11 -2.22 2.63 0.21 1.35 1.72 18.58 2.15
Net income from continuing operations 4.63% 3.36% 4.29% 5.19% 4.51% 1.98% 2.76% 2.42% 0.97% 1.91% 4.09% -0.10% 13.94% 2.60% 2.92% 5.14% 3.75% 4.83% 0.83% 1.73% 2.42% 18.11% 1.50%
Income from discontinued operations, net of income taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.78 1.04 1.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net income 4.63% 3.36% 4.29% 5.19% 4.51% 1.98% 2.76% 2.42% 0.97% 1.91% 4.09% 0.00% 14.71% 3.64% 4.15% 5.14% 3.75% 4.83% 0.83% 1.73% 2.42% 18.11% 1.50%
Net (income) loss attributable to non-controlling interests 0.02 0.02 0.02 0.01 0.01 0.03 0.02 0.03 0.02 0.02 0.01 0.00 -0.17 -0.20 -0.23 -0.44 -0.21 -0.22 -0.18 -0.03 -0.23 -3.49 -0.16
Net income attributable to Dell Technologies Inc. 4.65% 3.38% 4.32% 5.20% 4.52% 2.01% 2.79% 2.45% 0.99% 1.93% 4.10% 0.01% 14.54% 3.44% 3.93% 4.70% 3.54% 4.61% 0.65% 1.70% 2.18% 14.62% 1.34%

Based on: 10-Q (reporting date: 2024-11-01), 10-Q (reporting date: 2024-08-02), 10-Q (reporting date: 2024-05-03), 10-K (reporting date: 2024-02-02), 10-Q (reporting date: 2023-11-03), 10-Q (reporting date: 2023-08-04), 10-Q (reporting date: 2023-05-05), 10-K (reporting date: 2023-02-03), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-Q (reporting date: 2022-04-29), 10-K (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-05-01), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-11-01), 10-Q (reporting date: 2019-08-02), 10-Q (reporting date: 2019-05-03).

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 Q1 2025 to Q2 2025 and from Q2 2025 to Q3 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 Q1 2025 to Q2 2025 and from Q2 2025 to Q3 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 decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 exceeding Q1 2025 level.