Dell Technologies Inc. (NYSE:DELL)

The financial data reveals several changes in key metrics over the examined periods. Net income attributable to the company exhibits a notable recovery and fluctuating trend, while stockholders' equity consistently remains in a negative range, indicating ongoing challenges in equity value.

Net Income (Loss) Attributable to Dell Technologies Inc. (in US$ millions)

Initially, the company recorded a significant loss of -2310 million US$ in early 2019.

Subsequently, the net income sharply improved to 4616 million US$ in early 2020.

The net income then decreased to 3250 million US$ in 2021, followed by an increase to 5563 million US$ in 2022.

After 2022, net income declined to 2442 million US$ in 2023, rose again to 3211 million US$ in 2024, and further increased to 4592 million US$ in 2025.

Overall, while net income showed volatility, the general pattern from 2019 through 2025 points to recovery and growth after the initial loss year.

Total Stockholders’ Equity (Deficit) of Dell Technologies Inc. (in US$ millions)

Stockholders’ equity was negative in all reported periods, starting at -5765 million US$ in early 2019.

This deficit narrowed to -1574 million US$ by early 2020 and further shifted to a positive value of 2479 million US$ in early 2021, indicating some strengthening of the equity base during that year.

Despite this positive spike, equity reverted back to a deficit position, recording -1685 million US$ in early 2022 and worsening to -3122 million US$ in early 2023.

Thereafter, the deficit moderately improved to -2404 million US$ in 2024 and further to -1482 million US$ in 2025, suggesting partial recovery but still maintaining negative equity levels.

Return on Equity (ROE)

ROE data is limited, with a notable figure of 131.1% recorded in the period ending January 29, 2021.

This exceptionally high ROE suggests extraordinary profitability relative to equity during that year, likely influenced by the temporary positive stockholders’ equity and significant net income.

The absence of ROE values for other periods limits comprehensive assessment over time.

In summary, the company experienced a significant turnaround in profitability beginning in 2020, recovering from a substantial loss in 2019. However, despite improvements and fluctuations in net income, the company has faced persistent challenges pertaining to negative stockholders’ equity. The transient positive equity in 2021, paired with an outstanding return on equity, marks an exceptional year amid overall deficits. Subsequent years show partial recovery in equity deficits, yet the equity position remains below zero, indicating ongoing financial structural challenges.