Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Dell Technologies Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Selected Financial Data since 2019
- Current Ratio since 2019
- Total Asset Turnover since 2019
- Price to Earnings (P/E) since 2019
- Analysis of Debt
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Dell Technologies Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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 financial structure is characterized by a high reliance on liabilities, which consistently represent the vast majority of the total balance sheet. Total liabilities remained above 90% throughout the analyzed period, frequently exceeding 100% between January 2022 and May 2026, which coincided with periods of negative stockholders' equity.
- Current Liabilities Trend
- A significant increase in the weight of current liabilities is observed, rising from 41.59% in May 2020 to 64.92% by May 2026. This expansion is primarily driven by a substantial increase in accounts payable, which grew from 15.33% to 39.39%. This shift suggests an increasing reliance on trade credit and supplier financing to fund operations. Short-term deferred revenue remained relatively stable, fluctuating between 11% and 18%.
- Non-Current Liabilities Trend
- Conversely, non-current liabilities exhibited a long-term downward trend, decreasing from 55.34% in May 2020 to 36.30% in May 2026. The primary driver of this decline was the reduction in long-term debt, which fell from 40.22% to 20.55%. This indicates a strategic shift in the capital structure, moving away from long-term debt obligations toward shorter-term operational liabilities.
- Stockholders' Equity and Retained Earnings
- Total stockholders' equity remained volatile and was frequently in a deficit position. However, a critical divergence is noted between retained earnings and treasury stock. Retained earnings improved dramatically, moving from a deficit of -14.02% in May 2020 to a positive surplus of 5.52% by May 2026, signaling sustained internal profitability. Simultaneously, treasury stock increased significantly from -0.25% to -14.05%, indicating an aggressive share repurchase program that offset the gains in retained earnings and contributed to the overall equity deficit.
The overall trajectory indicates a transition toward a more aggressive working capital strategy and a reliance on operational leverage. While the company successfully eliminated its accumulated deficit in retained earnings, the concurrent increase in treasury stock and the shift from long-term to short-term liabilities have maintained the total equity in a precarious or negative position.