Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Dell Technologies Inc., solvency 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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Dell Technologies Inc. debt to capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Dell Technologies Inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Dell Technologies Inc. debt to assets ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Dell Technologies Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Dell Technologies Inc. interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Dell Technologies Inc. fixed charge coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Equity
Dell Technologies Inc., debt to equity calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | 6,982) | 6,573) | 5,823) | 6,362) | 7,737) | 4,320) | |
| Long-term debt | 19,012) | 23,015) | 21,131) | 41,622) | 44,319) | 49,201) | |
| Total debt | 25,994) | 29,588) | 26,954) | 47,984) | 52,056) | 53,521) | |
| Total Dell Technologies Inc. stockholders’ equity (deficit) | (2,404) | (3,122) | (1,685) | 2,479) | (1,574) | (5,765) | |
| Solvency Ratio | |||||||
| Debt to equity1 | — | — | — | 19.36 | — | — | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Apple Inc. | 1.89 | 1.80 | 2.39 | 1.99 | 1.73 | 1.19 | |
| Arista Networks Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Cisco Systems Inc. | 0.68 | 0.19 | 0.24 | 0.28 | 0.38 | 0.73 | |
| Super Micro Computer Inc. | 0.40 | 0.15 | 0.42 | 0.09 | 0.03 | 0.03 | |
| Debt to Equity, Sector | |||||||
| Technology Hardware & Equipment | — | 1.34 | 1.66 | 1.65 | 1.69 | — | |
| Debt to Equity, Industry | |||||||
| Information Technology | — | 0.66 | 0.70 | 0.83 | 0.97 | — | |
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).
1 2024 Calculation
Debt to equity = Total debt ÷ Total Dell Technologies Inc. stockholders’ equity (deficit)
= 25,994 ÷ -2,404 = —
2 Click competitor name to see calculations.
Debt to Equity (including Operating Lease Liability)
Dell Technologies Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | 6,982) | 6,573) | 5,823) | 6,362) | 7,737) | 4,320) | |
| Long-term debt | 19,012) | 23,015) | 21,131) | 41,622) | 44,319) | 49,201) | |
| Total debt | 25,994) | 29,588) | 26,954) | 47,984) | 52,056) | 53,521) | |
| Current operating lease liabilities (included in Accrued and other current liabilities) | 253) | 260) | 287) | 436) | 432) | —) | |
| Non-current operating lease liabilities (included in Other non-current liabilities) | 576) | 630) | 720) | 1,787) | 1,360) | —) | |
| Total debt (including operating lease liability) | 26,823) | 30,478) | 27,961) | 50,207) | 53,848) | 53,521) | |
| Total Dell Technologies Inc. stockholders’ equity (deficit) | (2,404) | (3,122) | (1,685) | 2,479) | (1,574) | (5,765) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | — | — | — | 20.25 | — | — | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Apple Inc. | 2.09 | 1.99 | 2.61 | 2.16 | 1.87 | 1.19 | |
| Arista Networks Inc. | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | — | |
| Cisco Systems Inc. | 0.71 | 0.21 | 0.27 | 0.31 | 0.41 | 0.73 | |
| Super Micro Computer Inc. | 0.41 | 0.16 | 0.44 | 0.11 | 0.05 | 0.03 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Technology Hardware & Equipment | — | 1.46 | 1.81 | 1.78 | 1.81 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Information Technology | — | 0.72 | 0.77 | 0.90 | 1.04 | — | |
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).
1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Dell Technologies Inc. stockholders’ equity (deficit)
= 26,823 ÷ -2,404 = —
2 Click competitor name to see calculations.
Debt to Capital
Dell Technologies Inc., debt to capital calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | 6,982) | 6,573) | 5,823) | 6,362) | 7,737) | 4,320) | |
| Long-term debt | 19,012) | 23,015) | 21,131) | 41,622) | 44,319) | 49,201) | |
| Total debt | 25,994) | 29,588) | 26,954) | 47,984) | 52,056) | 53,521) | |
| Total Dell Technologies Inc. stockholders’ equity (deficit) | (2,404) | (3,122) | (1,685) | 2,479) | (1,574) | (5,765) | |
| Total capital | 23,590) | 26,466) | 25,269) | 50,463) | 50,482) | 47,756) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 1.10 | 1.12 | 1.07 | 0.95 | 1.03 | 1.12 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Apple Inc. | 0.65 | 0.64 | 0.70 | 0.67 | 0.63 | 0.54 | |
| Arista Networks Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Cisco Systems Inc. | 0.41 | 0.16 | 0.19 | 0.22 | 0.28 | 0.42 | |
| Super Micro Computer Inc. | 0.29 | 0.13 | 0.30 | 0.08 | 0.03 | 0.02 | |
| Debt to Capital, Sector | |||||||
| Technology Hardware & Equipment | — | 0.57 | 0.62 | 0.62 | 0.63 | — | |
| Debt to Capital, Industry | |||||||
| Information Technology | — | 0.40 | 0.41 | 0.45 | 0.49 | — | |
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).
1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 25,994 ÷ 23,590 = 1.10
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Dell Technologies Inc. debt to capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Capital (including Operating Lease Liability)
Dell Technologies Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | 6,982) | 6,573) | 5,823) | 6,362) | 7,737) | 4,320) | |
| Long-term debt | 19,012) | 23,015) | 21,131) | 41,622) | 44,319) | 49,201) | |
| Total debt | 25,994) | 29,588) | 26,954) | 47,984) | 52,056) | 53,521) | |
| Current operating lease liabilities (included in Accrued and other current liabilities) | 253) | 260) | 287) | 436) | 432) | —) | |
| Non-current operating lease liabilities (included in Other non-current liabilities) | 576) | 630) | 720) | 1,787) | 1,360) | —) | |
| Total debt (including operating lease liability) | 26,823) | 30,478) | 27,961) | 50,207) | 53,848) | 53,521) | |
| Total Dell Technologies Inc. stockholders’ equity (deficit) | (2,404) | (3,122) | (1,685) | 2,479) | (1,574) | (5,765) | |
| Total capital (including operating lease liability) | 24,419) | 27,356) | 26,276) | 52,686) | 52,274) | 47,756) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 1.10 | 1.11 | 1.06 | 0.95 | 1.03 | 1.12 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Apple Inc. | 0.68 | 0.67 | 0.72 | 0.68 | 0.65 | 0.54 | |
| Arista Networks Inc. | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | — | |
| Cisco Systems Inc. | 0.41 | 0.18 | 0.21 | 0.24 | 0.29 | 0.42 | |
| Super Micro Computer Inc. | 0.29 | 0.14 | 0.30 | 0.10 | 0.05 | 0.02 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Technology Hardware & Equipment | — | 0.59 | 0.64 | 0.64 | 0.64 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Information Technology | — | 0.42 | 0.43 | 0.47 | 0.51 | — | |
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).
1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 26,823 ÷ 24,419 = 1.10
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Dell Technologies Inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Assets
Dell Technologies Inc., debt to assets calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | 6,982) | 6,573) | 5,823) | 6,362) | 7,737) | 4,320) | |
| Long-term debt | 19,012) | 23,015) | 21,131) | 41,622) | 44,319) | 49,201) | |
| Total debt | 25,994) | 29,588) | 26,954) | 47,984) | 52,056) | 53,521) | |
| Total assets | 82,089) | 89,611) | 92,735) | 123,415) | 118,861) | 111,820) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.32 | 0.33 | 0.29 | 0.39 | 0.44 | 0.48 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Apple Inc. | 0.29 | 0.32 | 0.34 | 0.36 | 0.35 | 0.32 | |
| Arista Networks Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Cisco Systems Inc. | 0.25 | 0.08 | 0.10 | 0.12 | 0.15 | 0.25 | |
| Super Micro Computer Inc. | 0.22 | 0.08 | 0.19 | 0.04 | 0.02 | 0.01 | |
| Debt to Assets, Sector | |||||||
| Technology Hardware & Equipment | — | 0.27 | 0.29 | 0.32 | 0.33 | — | |
| Debt to Assets, Industry | |||||||
| Information Technology | — | 0.26 | 0.26 | 0.29 | 0.31 | — | |
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).
1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 25,994 ÷ 82,089 = 0.32
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Dell Technologies Inc. debt to assets ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Assets (including Operating Lease Liability)
Dell Technologies Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term debt | 6,982) | 6,573) | 5,823) | 6,362) | 7,737) | 4,320) | |
| Long-term debt | 19,012) | 23,015) | 21,131) | 41,622) | 44,319) | 49,201) | |
| Total debt | 25,994) | 29,588) | 26,954) | 47,984) | 52,056) | 53,521) | |
| Current operating lease liabilities (included in Accrued and other current liabilities) | 253) | 260) | 287) | 436) | 432) | —) | |
| Non-current operating lease liabilities (included in Other non-current liabilities) | 576) | 630) | 720) | 1,787) | 1,360) | —) | |
| Total debt (including operating lease liability) | 26,823) | 30,478) | 27,961) | 50,207) | 53,848) | 53,521) | |
| Total assets | 82,089) | 89,611) | 92,735) | 123,415) | 118,861) | 111,820) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.33 | 0.34 | 0.30 | 0.41 | 0.45 | 0.48 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Apple Inc. | 0.33 | 0.35 | 0.38 | 0.39 | 0.38 | 0.32 | |
| Arista Networks Inc. | 0.00 | 0.01 | 0.01 | 0.01 | 0.02 | — | |
| Cisco Systems Inc. | 0.26 | 0.09 | 0.11 | 0.13 | 0.16 | 0.25 | |
| Super Micro Computer Inc. | 0.22 | 0.08 | 0.19 | 0.05 | 0.03 | 0.01 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Technology Hardware & Equipment | — | 0.29 | 0.31 | 0.34 | 0.35 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Information Technology | — | 0.28 | 0.29 | 0.31 | 0.33 | — | |
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).
1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 26,823 ÷ 82,089 = 0.33
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Dell Technologies Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Financial Leverage
Dell Technologies Inc., financial leverage calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 82,089) | 89,611) | 92,735) | 123,415) | 118,861) | 111,820) | |
| Total Dell Technologies Inc. stockholders’ equity (deficit) | (2,404) | (3,122) | (1,685) | 2,479) | (1,574) | (5,765) | |
| Solvency Ratio | |||||||
| Financial leverage1 | — | — | — | 49.78 | — | — | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Apple Inc. | 6.41 | 5.67 | 6.96 | 5.56 | 4.96 | 3.74 | |
| Arista Networks Inc. | 1.41 | 1.38 | 1.39 | 1.44 | 1.43 | — | |
| Cisco Systems Inc. | 2.74 | 2.30 | 2.36 | 2.36 | 2.50 | 2.91 | |
| Super Micro Computer Inc. | 1.81 | 1.86 | 2.25 | 2.05 | 1.80 | 1.79 | |
| Financial Leverage, Sector | |||||||
| Technology Hardware & Equipment | — | 4.95 | 5.78 | 5.18 | 5.13 | — | |
| Financial Leverage, Industry | |||||||
| Information Technology | — | 2.55 | 2.68 | 2.89 | 3.12 | — | |
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).
1 2024 Calculation
Financial leverage = Total assets ÷ Total Dell Technologies Inc. stockholders’ equity (deficit)
= 82,089 ÷ -2,404 = —
2 Click competitor name to see calculations.
Interest Coverage
Dell Technologies Inc., interest coverage calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to Dell Technologies Inc. | 3,211) | 2,442) | 5,563) | 3,250) | 4,616) | (2,310) | |
| Add: Net income attributable to noncontrolling interest | (16) | (20) | 144) | 255) | 913) | 129) | |
| Less: Income from discontinued operations, net of income taxes | —) | —) | 765) | —) | —) | —) | |
| Add: Income tax expense | 692) | 803) | 981) | 165) | (5,533) | (180) | |
| Add: Interest expense | 1,501) | 1,222) | 1,542) | 2,389) | 2,675) | 2,488) | |
| Earnings before interest and tax (EBIT) | 5,388) | 4,447) | 7,465) | 6,059) | 2,671) | 127) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 3.59 | 3.64 | 4.84 | 2.54 | 1.00 | 0.05 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Apple Inc. | — | 29.92 | 41.64 | 42.29 | 24.35 | 19.38 | |
| Arista Networks Inc. | — | — | — | — | — | — | |
| Cisco Systems Inc. | 13.16 | 36.87 | 41.21 | 31.56 | 24.88 | 17.96 | |
| Super Micro Computer Inc. | 63.83 | 72.55 | 53.71 | 48.81 | 40.01 | 13.97 | |
| Interest Coverage, Sector | |||||||
| Technology Hardware & Equipment | — | 25.22 | 30.22 | 24.25 | 14.35 | — | |
| Interest Coverage, Industry | |||||||
| Information Technology | — | 17.89 | 22.78 | 20.06 | 14.26 | — | |
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).
1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 5,388 ÷ 1,501 = 3.59
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Dell Technologies Inc. interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Fixed Charge Coverage
Dell Technologies Inc., fixed charge coverage calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to Dell Technologies Inc. | 3,211) | 2,442) | 5,563) | 3,250) | 4,616) | (2,310) | |
| Add: Net income attributable to noncontrolling interest | (16) | (20) | 144) | 255) | 913) | 129) | |
| Less: Income from discontinued operations, net of income taxes | —) | —) | 765) | —) | —) | —) | |
| Add: Income tax expense | 692) | 803) | 981) | 165) | (5,533) | (180) | |
| Add: Interest expense | 1,501) | 1,222) | 1,542) | 2,389) | 2,675) | 2,488) | |
| Earnings before interest and tax (EBIT) | 5,388) | 4,447) | 7,465) | 6,059) | 2,671) | 127) | |
| Add: Operating lease costs | 291) | 283) | 335) | 535) | 510) | 457) | |
| Earnings before fixed charges and tax | 5,679) | 4,730) | 7,800) | 6,594) | 3,181) | 584) | |
| Interest expense | 1,501) | 1,222) | 1,542) | 2,389) | 2,675) | 2,488) | |
| Operating lease costs | 291) | 283) | 335) | 535) | 510) | 457) | |
| Fixed charges | 1,792) | 1,505) | 1,877) | 2,924) | 3,185) | 2,945) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 3.17 | 3.14 | 4.16 | 2.26 | 1.00 | 0.20 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Apple Inc. | 62.74 | 20.17 | 25.65 | 26.13 | 16.34 | 14.48 | |
| Arista Networks Inc. | — | 73.83 | 49.20 | 31.02 | 24.95 | — | |
| Cisco Systems Inc. | 9.58 | 18.98 | 20.30 | 16.92 | 14.79 | 12.28 | |
| Super Micro Computer Inc. | 42.45 | 40.95 | 24.03 | 12.52 | 10.45 | 7.48 | |
| Fixed Charge Coverage, Sector | |||||||
| Technology Hardware & Equipment | — | 17.24 | 19.84 | 16.62 | 10.51 | — | |
| Fixed Charge Coverage, Industry | |||||||
| Information Technology | — | 11.45 | 13.53 | 12.31 | 9.12 | — | |
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).
1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 5,679 ÷ 1,792 = 3.17
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Dell Technologies Inc. fixed charge coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |