Dell (DELL): analysis in plain words
Is Dell cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Dell (DELL) is listed on the NYSE and we classify it in hardware and devices. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Dell according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Dell (DELL) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $372.36 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 21.6x | Price over earnings per share |
| Revenue growth | +57.7% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 7.5% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.3x | Years of operating profit to repay debt |
| Dividend yield | 0.62% | Annual dividend over price |
| Market cap | $236.8 billion | What the stock market values it at |
The Dell figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any DELL figure that is not available shows as N/A: we do not estimate it.
How Dell makes money
Dell Technologies reports two main segments. Infrastructure Solutions Group sells servers, including AI servers, plus storage and networking, while Client Solutions Group sells laptops, desktops and monitors to businesses and consumers. Customers range from large companies and governments to individuals worldwide, with the Americas as its largest region.
Over the last 12 months, Dell brought in revenue of $151.2 billion. For every 100 it sells, Dell keeps 19.9 after the direct cost of what it sells (gross margin) and 12.0 after all operating costs (operating margin). With 97,000 full-time employees, that is about $2 million of revenue per employee.
Dell against its sector
To know whether a Dell figure is high or low you have to put it next to similar companies. This table compares Dell with the median of the 7 hardware and devices companies Fintols covers, with data as of November 4, 2026.
| Figure | Dell | hardware and devices median |
|---|---|---|
| P/E | 21.6x | 31.1x (7) |
| Revenue growth | +57.7% | +27.6% (8) |
| Net margin | 7.5% | 6.6% (8) |
| Dividend yield | 0.62% | 0.47% (8) |
| Net debt / EBITDA | 1.3x | 0.6x (7) |
In short, against the typical hardware and devices company, Dell trades on a lower P/E, grows faster and pays a higher dividend yield. By size, Dell ranks number 3 of 7 hardware and devices companies quoted in USD on Fintols.
The bull case for Dell
These are the strengths in the Dell figures as of November 4, 2026:
- Dell is selling more than a year ago: +57.7% in its latest quarter (the typical hardware and devices company grew +27.6%).
- Analysts expect Dell earnings to rise: its P/E on the next 12 months of estimated earnings is 12.3x, below the current 21.6x.
- On a P/E basis Dell trades cheaper than its sector: 21.6x its annual earnings, against 31.1x for the hardware and devices median (7 companies with data).
The main risk for Dell
Dell stock sits 37% below its 52-week high ($595.51): the market has cut its expectations, and it is worth understanding why first.
And, like the rest of hardware and devices, Dell is exposed to demand for devices slowing, because companies and consumers can put off upgrades.
Frequently asked questions about Dell
Is it a good time to buy Dell stock?
Fintols does not tell you whether to buy or sell Dell, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Dell stock trades at $372.36, 37% below its 52-week high ($595.51) and 238% above its low ($110.22). Its P/E is 21.6x against a hardware and devices median of 31.1x, and 12.3x on the earnings analysts expect over the next 12 months. With Dell, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Dell pay a dividend?
Yes. As of November 4, 2026, Dell pays $2.52 per share a year, which at today's price is a yield of 0.62%. It uses 13% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 1.27%. The hardware and devices median on Fintols is 0.47%.
Is Dell stock expensive?
It depends on what you compare it with. On P/E, Dell trades at 21.6x its last 12 months of earnings: cheaper than the hardware and devices median (31.1x). Including its debt, Dell is valued at 16.0x its EBITDA (EV/EBITDA). A high P/E alone does not make Dell expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Dell's competitors?
On Fintols we compare Dell with Cisco, Arista Networks and Apple, which are also in hardware and devices. As of November 4, 2026, Cisco is worth $408.5 billion and trades on a P/E of 31.1; Arista Networks is worth $225.1 billion and trades on a P/E of 47.8; Apple is worth $5.08 trillion and trades on a P/E of 38.9. Each has a side-by-side comparison with Dell below.
Dell competitors
- Cisco (CSCO) analysis · Dell vs Cisco comparison
- Arista Networks (ANET) analysis · Dell vs Arista Networks comparison
- Apple (AAPL) analysis · Dell vs Apple comparison
To understand Dell better
- Economic Moats Explained: From Warren Buffett to AI
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Dell: hardware and devices stocks and S&P 500 companies. Open the full DELL analysis with its valuation and scenarios. Educational content about Dell, not investment advice.