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"stock_based_compensation": 727000000, "dividends_paid": -1566000000, "repurchases_of_common_stock": -8518000000, "free_cash_flow": 8560000000 } }, "notes": [ "Figures are taken from Dell Technologies' Annual Report on Form 10-K for fiscal 2026 (accession 0001571996-26-000008, filed March 16, 2026) and its Quarterly Report on Form 10-Q for the quarter ended July 31, 2026 (accession 0001571996-26-000046, filed September 8, 2026). All statements in both filings are presented in millions; figures here are stated in actual dollars.", "Dell's fiscal year is the 52- or 53-week period ending on the Friday nearest January 31. Fiscal 2026 ended January 30, 2026 and fiscal 2027 will end January 29, 2027; both are 52-week years. Because the statements label only period end dates, each period's start date shown here is the day after the preceding period ended.", "The 10-K presents three fiscal years of income statement and cash flow data (fiscal 2026, 2025 and 2024) but only two balance sheets (January 30, 2026 and January 31, 2025). Fiscal 2024 therefore carries no balance sheet in this record.", "The 10-Q presents its statements of cash flows for the six months only. The three-month cash flow figures shown for the July 31, 2026 and August 1, 2025 quarters are taken from the second-quarter fiscal 2027 earnings release furnished as Exhibit 99.1 to the Form 8-K dated September 1, 2026 (accession 0001571996-26-000039), and the cash flow blocks of those two quarters are cited to that accession. That release condenses the reconciliation of net income to operating cash flow into a single line, so quarterly depreciation and stock-based compensation are not separately available.", "Free cash flow shown here is operating cash flow less capital expenditures (Dell's capital expenditure line also covers capitalized software development costs). It is a straightforward derivation and is not the company's own non-GAAP 'adjusted free cash flow' measure.", "The trailing-twelve-month block is derived: fiscal 2026 plus the first six months of fiscal 2027 less the first six months of fiscal 2026. It covers August 2, 2025 through July 31, 2026 and is not a period either filing reports on its own.", "No balance sheet as of August 1, 2025 appears in these filings (the 10-Q's comparative balance sheet column is the January 30, 2026 fiscal year end), so the year-ago quarter carries income statement, segment and cash flow figures only.", "Total debt is short-term debt plus long-term debt from the balance sheet, which equals the total debt carrying value disclosed in the debt note: $34,466 million at July 31, 2026, $31,503 million at January 30, 2026 and $24,567 million at January 31, 2025.", "Total equity is negative in every period shown. Dell has repurchased far more stock than it has issued \u2014 treasury stock stood at $20.0 billion at July 31, 2026 \u2014 which puts the company in a shareholders' deficit even as retained earnings have turned positive.", "Fiscal 2025 and fiscal 2024 net income includes a net loss attributable to non-controlling interests in SecureWorks Corp., so net income attributable to Dell Technologies Inc. ($4,592 million and $3,388 million) is slightly higher than consolidated net income. Earnings per share is struck on the attributable figure. SecureWorks was sold on February 3, 2025, so there is no non-controlling interest from fiscal 2026 onward.", "Segment figures are the company's own reportable-segment measures: Infrastructure Solutions Group and Client Solutions Group. Segment operating income excludes Corporate and other, amortization of intangible assets, stock-based compensation expense and other corporate expenses, so the two segments' operating income does not sum to consolidated operating income; the reconciling items are disclosed in the segment note.", "Effective in the quarter ended January 30, 2026 Dell began splitting its servers and networking offerings into AI-optimized servers and traditional servers and networking; the fiscal 2026 10-K presents fiscal 2025 and fiscal 2024 on that same basis, and those are the figures carried here. Segment revenue and operating income totals were not restated.", "Dell Technologies Inc. changed its jurisdiction of incorporation from Delaware to Texas effective July 1, 2026. The change does not affect share counts, par value or the presentation of equity; the same Class A, B and C common stock remains outstanding at $0.01 par value.", "Share counts are weighted-average shares as printed in the filings, in millions: 652 million diluted for the quarter ended July 31, 2026 and 684 million diluted for fiscal 2026." ], "uncertainties": [ "Fiscal 2027 first-quarter results are not presented as a separate column in either filing, so no discrete first-quarter period is reported here; the six-month view is carried as the year-to-date block instead.", "Quarterly cash flow detail is limited to the lines the earnings release prints (operating, investing and financing totals, capital expenditures, buybacks and dividends). Depreciation and amortization and stock-based compensation are available only for the six-month and full-year periods.", "Period start dates are inferred from the end date of the immediately preceding period as printed in these filings rather than being stated outright by the company.", "Fiscal 2024 has no balance sheet in this record because the fiscal 2026 10-K presents only two balance sheet columns." ], "headline": { "period": "Q2 FY2027", "period_end_words": "July 31, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 46971000000, "text": "$46.97 billion", "exact": "$46,971,000,000", "compact": "$46.97B", "abs": "$46.97 billion", "prior_value": 29776000000, "prior": "$29.78 billion", "priorabs": "$29.78 billion", "yoy": "up 57.7%", "source": { "array": "quarterly", "field": "income_statement.total_net_revenue", "index": 0, "period_label": "Q2 FY2027", "period_end": "2026-07-31", "period_start": "2026-05-02", "span_days": 90, "source_accession": "0001571996-26-000046", "prior_index": 1, "prior_period_label": "Q2 FY2026", "prior_period_end": "2025-08-01", "prior_period_start": "2025-05-03", "prior_span_days": 90, "prior_source_accession": "0001571996-26-000046", "gap_days": 364 } }, { "label": "Net income", "format": "usd", "value": 4133000000, "text": "$4.13 billion", "exact": "$4,133,000,000", "compact": "$4.13B", "abs": "$4.13 billion", "prior_value": 1164000000, "prior": "$1.16 billion", "priorabs": "$1.16 billion", "yoy": "up 255.1%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 0, "period_label": "Q2 FY2027", "period_end": "2026-07-31", "period_start": "2026-05-02", "span_days": 90, "source_accession": "0001571996-26-000046", "prior_index": 1, "prior_period_label": "Q2 FY2026", "prior_period_end": "2025-08-01", "prior_period_start": "2025-05-03", "prior_span_days": 90, "prior_source_accession": "0001571996-26-000046", "gap_days": 364 } }, { "label": "Diluted EPS", "format": "eps", "value": 6.34, "text": "$6.34", "exact": "$6.34", "compact": "$6.34", "abs": "$6.34", "prior_value": 1.7, "prior": "$1.70", "priorabs": "$1.70", "yoy": "up 272.9%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q2 FY2027", "period_end": "2026-07-31", "period_start": "2026-05-02", "span_days": 90, "source_accession": "0001571996-26-000046", "prior_index": 1, "prior_period_label": "Q2 FY2026", "prior_period_end": "2025-08-01", "prior_period_start": "2025-05-03", "prior_span_days": 90, "prior_source_accession": "0001571996-26-000046", "gap_days": 364 } }, { "label": "Operating income", "format": "usd", "value": 5385000000, "text": "$5.38 billion", "exact": "$5,385,000,000", "compact": "$5.38B", "abs": "$5.38 billion", "prior_value": 1773000000, "prior": "$1.77 billion", "priorabs": "$1.77 billion", "yoy": "up 203.7%", "source": { "array": "quarterly", "field": "income_statement.operating_income", "index": 0, "period_label": "Q2 FY2027", "period_end": "2026-07-31", "period_start": "2026-05-02", "span_days": 90, "source_accession": "0001571996-26-000046", "prior_index": 1, "prior_period_label": "Q2 FY2026", "prior_period_end": "2025-08-01", "prior_period_start": "2025-05-03", "prior_span_days": 90, "prior_source_accession": "0001571996-26-000046", "gap_days": 364 } }, { "label": "ISG revenue", "format": "usd", "value": 31782000000, "text": "$31.78 billion", "exact": "$31,782,000,000", "compact": "$31.78B", "abs": "$31.78 billion", "prior_value": 16800000000, "prior": "$16.8 billion", "priorabs": "$16.8 billion", "yoy": "up 89.2%", "source": { "array": "quarterly", "field": "segments.infrastructure_solutions_group.net_revenue", "index": 0, "period_label": "Q2 FY2027", "period_end": "2026-07-31", "period_start": "2026-05-02", "span_days": 90, "source_accession": "0001571996-26-000046", "prior_index": 1, "prior_period_label": "Q2 FY2026", "prior_period_end": "2025-08-01", "prior_period_start": "2025-05-03", "prior_span_days": 90, "prior_source_accession": "0001571996-26-000046", "gap_days": 364 } }, { "label": "AI-optimized server revenue", "format": "usd", "value": 16401000000, "text": "$16.40 billion", "exact": "$16,401,000,000", "compact": "$16.40B", "abs": "$16.40 billion", "prior_value": 8208000000, "prior": "$8.21 billion", "priorabs": "$8.21 billion", "yoy": "up 99.8%", "source": { "array": "quarterly", "field": "segments.infrastructure_solutions_group.ai_optimized_servers_net_revenue", "index": 0, "period_label": "Q2 FY2027", "period_end": "2026-07-31", "period_start": "2026-05-02", "span_days": 90, "source_accession": "0001571996-26-000046", "prior_index": 1, "prior_period_label": "Q2 FY2026", "prior_period_end": "2025-08-01", "prior_period_start": "2025-05-03", "prior_span_days": 90, "prior_source_accession": "0001571996-26-000046", "gap_days": 364 } } ], "summary": "Dell Technologies reported $46.97 billion in revenue for Q2 FY2027, the quarter ended July 31, 2026, up 57.7% from a year earlier, and net income of $4.13 billion, up 255.1%. Most of that growth came from the Infrastructure Solutions Group, whose revenue was $31.78 billion, up 89.2%, and within it AI-optimized server sales of $16.40 billion, up 99.8%. Operating income was $5.38 billion, up 203.7%, growing faster than revenue as operating expenses rose more slowly than sales and pricing lifted the gross margin rate, and diluted EPS was $6.34, up 272.9%.", "qa": [ { "q": "How much revenue did Dell report in Q2 FY2027?", "a": "Dell Technologies reported $46.97 billion in revenue for Q2 FY2027, the quarter ended July 31, 2026. That is up 57.7% from $29.78 billion in the same quarter a year earlier." }, { "q": "How much did Dell earn in Q2 FY2027?", "a": "Dell Technologies earned net income of $4.13 billion in Q2 FY2027, up 255.1% from $1.16 billion a year earlier. Diluted earnings per share were $6.34, against $1.70 in the year-ago quarter." }, { "q": "How big is Dell's AI server business?", "a": "Dell Technologies sold $16.40 billion of AI-optimized servers in Q2 FY2027, up 99.8% from $8.21 billion a year earlier. Those sales sit inside the Infrastructure Solutions Group, whose total revenue for the quarter was $31.78 billion." }, { "q": "What was Dell's operating income in Q2 FY2027?", "a": "Dell Technologies posted operating income of $5.38 billion in Q2 FY2027, up 203.7% from $1.77 billion a year earlier. Operating income grew faster than revenue because operating expenses rose more slowly than sales and pricing lifted the gross margin rate." } ] }, "company_details": { "Name": "Dell Technologies Inc.", "Ticker": "DELL", "CIK": "0001571996", "Exchange": "NYSE", "State": "Texas", "Incorporation": "Texas", "SIC": "3571", "Office": "Technology", "Industry": "Electronic Computers" }, "next_filing": { "predicted_date": "2026-12-08", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2027, "fiscal_period": "Q2", "tag": "FY27Q2", "period_end": "2026-07-31", "form": "10-Q", "accession": "0001571996-26-000046", "fiscal_year_end": "0129", "source": "facts" }, "source_filings": [ { "role": "annual", "current": false, "form": "10-K", "fiscal_year": 2026, "fiscal_period": "FY", "tag": "FY26", "period_end": "2026-01-30", "filed": "2026-03-16", "accession": "0001571996-26-000008", "url": "https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/0001571996-26-000008-index.htm", "source": "reported" }, { "role": "quarterly", "current": true, "form": "10-Q", "fiscal_year": 2027, "fiscal_period": "Q2", "tag": "FY27Q2", "period_end": "2026-07-31", "filed": "2026-09-08", "accession": "0001571996-26-000046", "url": "https://www.sec.gov/Archives/edgar/data/1571996/000157199626000046/0001571996-26-000046-index.htm", "source": "facts" } ] }