How does Dell Technologies (DELL) make money?

Dell Technologies (DELL) generates revenue primarily from Other Segments, which accounted for 99% of total revenue in TTM through Q2 2026. The company reported $134B in revenue and converted 6.3% of it into net profit, equivalent to roughly $8.41B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Dell Technologies (DELL)?

Dell Technologies (DELL) reported a gross profit margin of 19.1% in TTM through Q2 2026, equivalent to $25.6B in gross profit on $134B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Dell Technologies (DELL)?

Dell Technologies (DELL) reported an operating profit margin of 8% in TTM through Q2 2026, equivalent to $10.7B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Dell Technologies (DELL)?

Dell Technologies (DELL) reported a net profit margin of 6.3% in TTM through Q2 2026, equivalent to $8.41B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Dell Technologies (DELL) profitable?

Yes. Dell Technologies (DELL) reported $8.41B in net income for TTM through Q2 2026, with a net profit margin of 6.3%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Dell Technologies (DELL) invest in research and development?

Dell Technologies (DELL) invested $3.32B in research and development during TTM through Q2 2026, roughly 2.5% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Dell Technologies (DELL) spend on capital expenditures?

Dell Technologies (DELL) spent $3.03B on capital expenditures (CapEx) during TTM through Q2 2026, roughly 2.3% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Dell Technologies (DELL) generate?

Dell Technologies (DELL) generated $9.44B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 7.0%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Dell Technologies (DELL)?

Dell Technologies (DELL) had an effective tax rate of 17% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Dell Technologies (DELL)?

Dell Technologies (DELL) reports revenue across 2 reportable product segments, led by Other Segments at 99% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Dell Technologies Makes Money: 2026 Visual Revenue Map

Dell Technologies (DELL) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending May 1, 2026 (reported June 9, 2026).

Dell Technologies discloses geographic revenue only in annual filings. to view the full breakdown.

Dell Technologies (DELL) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Dell Technologies (DELL), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Other Segments	$133B	99%
Corporate, Non-Segment	$1.4B	1%
Total	$134B	100%

Other Segments$133B
Corporate, Non-Segment$1.4B
Total$134B

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Dell Technologies (DELL) reports revenue across 2 reportable product segments; the largest segment was Other Segments at 99%, followed by Corporate, Non-Segment (1%).

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