Stock Analysis on Net
Stock Analysis on Net

Dell Technologies Inc. (NYSE:DELL)

Common-Size Balance Sheet: Assets
Quarterly Data

Dell Technologies Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jul 31, 2026 May 1, 2026 Jan 30, 2026 Oct 31, 2025 Aug 1, 2025 May 2, 2025 Jan 31, 2025 Nov 1, 2024 Aug 2, 2024 May 3, 2024 Feb 2, 2024 Nov 3, 2023 Aug 4, 2023 May 5, 2023 Feb 3, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 May 1, 2020
Cash and cash equivalents 9.08 10.08 11.38 10.94 9.13 8.86 4.56 6.38 5.50 7.27 8.97 9.97 9.76 9.07 9.60 5.76 6.20 7.53 10.22 16.51 9.55 11.70 11.51 9.50 9.25 10.17
Accounts receivable, net of allowance 17.99 22.50 17.36 13.40 16.85 11.26 12.91 13.65 13.78 10.68 11.38 11.67 12.08 11.18 13.93 13.42 15.13 13.39 13.92 10.45 10.53 8.96 10.36 9.56 9.60 8.98
Due from related party, net 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.46 0.47 0.46 0.42 0.24 0.22 0.15 0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-term financing receivables, net of allowance 10.05 7.17 8.35 7.35 6.67 6.19 6.65 6.10 6.01 5.81 5.66 5.45 5.61 5.96 5.89 5.77 5.47 5.42 5.49 3.66 4.04 4.09 4.18 4.10 4.00 3.95
Inventories 16.71 13.10 10.30 7.94 8.09 8.54 8.42 8.12 7.20 5.96 4.41 4.06 4.18 4.78 5.33 7.25 6.63 7.10 6.36 4.01 3.44 3.14 2.76 2.85 2.97 3.01
Other current assets 9.39 8.60 9.47 9.64 10.30 14.56 12.05 11.36 12.92 13.46 13.37 12.81 12.90 13.02 12.08 13.10 13.95 13.21 12.43 7.51 7.79 6.88 6.50 6.45 6.36 6.19
Current assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.84 0.81 0.00 0.00 0.00 0.00 0.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.15 0.00 0.00 0.00 1.70 1.75
Current assets 63.23% 61.44% 56.87% 49.27% 51.04% 49.41% 45.43% 46.41% 45.40% 43.18% 43.79% 44.42% 45.53% 44.46% 47.26% 45.54% 47.61% 46.80% 48.56% 42.14% 35.50% 34.77% 35.30% 32.46% 33.88% 34.04%
Property, plant, and equipment, net 5.82 6.04 6.59 7.47 7.24 7.35 7.95 7.72 7.62 7.78 7.84 7.47 7.30 7.45 6.93 6.86 6.50 6.24 5.84 5.10 5.43 5.39 5.21 5.33 5.26 5.07
Long-term investments 2.10 2.16 1.71 2.01 1.79 1.83 1.88 1.60 1.57 1.61 1.60 1.55 1.55 1.66 1.69 1.80 1.71 2.11 1.98 1.35 1.53 1.37 1.32 1.39 0.88 0.81
Long-term financing receivables, net of allowance 5.99 4.97 5.75 7.69 6.81 6.96 7.43 7.14 7.41 7.41 7.16 6.93 6.79 6.57 6.29 6.64 6.14 6.11 5.95 3.88 4.34 4.32 4.33 4.52 4.43 3.92
Goodwill 15.27 16.97 19.30 22.13 21.68 22.23 23.98 23.48 23.77 24.49 24.00 23.56 22.93 23.38 21.96 22.74 21.97 22.17 21.32 30.00 33.21 33.54 33.08 34.17 33.51 33.47
Intangible assets, net 3.41 3.86 4.48 5.29 5.32 5.60 6.25 6.28 6.50 6.91 6.94 7.09 7.07 7.45 7.22 7.90 7.85 8.16 8.05 9.08 10.61 11.28 11.69 12.83 13.25 13.99
Due from related party, net 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.29 0.28 0.53 0.49 0.72 0.69 0.81 0.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other non-current assets 4.18 4.54 5.31 6.14 6.12 6.61 7.08 7.37 7.73 8.62 8.67 8.68 8.55 8.50 8.16 7.79 7.53 7.60 7.53 8.44 9.38 9.33 9.07 9.30 8.78 8.69
Non-current assets 36.77% 38.56% 43.13% 50.73% 48.96% 50.59% 54.57% 53.59% 54.60% 56.82% 56.21% 55.58% 54.47% 55.54% 52.74% 54.46% 52.39% 53.20% 51.44% 57.86% 64.50% 65.23% 64.70% 67.54% 66.12% 65.96%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-07-31), 10-Q (reporting date: 2026-05-01), 10-K (reporting date: 2026-01-30), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-08-01), 10-Q (reporting date: 2025-05-02), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-11-01), 10-Q (reporting date: 2024-08-02), 10-Q (reporting date: 2024-05-03), 10-K (reporting date: 2024-02-02), 10-Q (reporting date: 2023-11-03), 10-Q (reporting date: 2023-08-04), 10-Q (reporting date: 2023-05-05), 10-K (reporting date: 2023-02-03), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-Q (reporting date: 2022-04-29), 10-K (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-05-01).

The balance sheet exhibits a fundamental structural shift in asset allocation over the observed period, characterized by a substantial migration from non-current assets to current assets. Total current assets increased from 34.04% of total assets in May 2020 to 63.23% by July 2026, while non-current assets declined from 65.96% to 36.77% over the same timeframe.

Current Asset Dynamics
A significant expansion is observed in the relative weight of operational assets. Accounts receivable grew from 8.98% in May 2020 to 17.99% in July 2026, peaking at 22.50% in May 2026. More pronounced growth occurred in inventories, which rose from 3.01% in May 2020 to 16.71% in July 2026, suggesting a significant increase in the scale of physical stock relative to total asset value.
Intangible Asset Erosion
There is a consistent and steep downward trend in the proportion of intangible assets and goodwill. Goodwill decreased from 33.47% in May 2020 to 15.27% in July 2026. Similarly, net intangible assets declined from 13.99% to 3.41%. This indicates a reduction in the relative impact of acquired premiums and amortized intangibles on the overall balance sheet structure.
Liquidity and Cash Management
Cash and cash equivalents showed moderate volatility, starting at 10.17% in May 2020, dipping to a low of 4.56% in January 2025, and recovering to 9.08% by July 2026. This suggests a fluctuating liquidity strategy amid the broader shift toward operational asset accumulation.
Financing and Fixed Assets
Short-term financing receivables experienced a steady increase, moving from 3.95% in May 2020 to 10.05% in July 2026. Long-term financing receivables remained more stable, though they showed a slight overall increase from 3.92% to 5.99%. Property, plant, and equipment remained relatively constant as a percentage of total assets, fluctuating between 5.07% and 7.84% before settling at 5.82%.

The overall trend reflects a transition from an asset base dominated by goodwill and intangibles to one driven by working capital components, specifically inventories and receivables, indicating a shift in the composition of the company's resource deployment.

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