Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Dell Technologies Inc., consolidated balance sheet: assets

US$ in millions

	Jan 30, 2026	Jan 31, 2025	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021
Cash and cash equivalents	11,528)	3,633)	7,366)	8,607)	9,477)	14,201)
Accounts receivable, net of allowance	17,585)	10,298)	9,343)	12,482)	12,912)	12,788)
Due from related party, net	—)	—)	—)	378)	131)	—)
Short-term financing receivables, net of allowance	8,458)	5,304)	4,643)	5,281)	5,089)	5,155)
Inventories	10,437)	6,716)	3,622)	4,776)	5,898)	3,402)
Other current assets	9,594)	9,610)	10,973)	10,827)	11,526)	8,021)
Current assets held for sale	—)	668)	—)	—)	—)	—)
Current assets	57,602)	36,229)	35,947)	42,351)	45,033)	43,567)
Property, plant, and equipment, net	6,676)	6,336)	6,432)	6,209)	5,415)	6,431)
Long-term investments	1,730)	1,496)	1,316)	1,518)	1,839)	1,624)
Long-term financing receivables, net of allowance	5,822)	5,927)	5,877)	5,638)	5,522)	5,339)
Goodwill	19,547)	19,120)	19,700)	19,676)	19,770)	40,829)
Intangible assets, net	4,533)	4,988)	5,701)	6,468)	7,461)	14,429)
Due from related party, net	—)	—)	—)	440)	710)	—)
Other non-current assets	5,376)	5,650)	7,116)	7,311)	6,985)	11,196)
Non-current assets	43,684)	43,517)	46,142)	47,260)	47,702)	79,848)
Total assets	101,286)	79,746)	82,089)	89,611)	92,735)	123,415)

Based on: 10-K (reporting date: 2026-01-30), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29).

An examination of the asset composition reveals significant fluctuations over the six-year period. Total assets experienced a substantial decrease from 2021 to 2024, followed by a considerable increase in 2025 and 2026. This pattern is largely driven by changes in both current and non-current asset values.

Current Assets: Current assets demonstrated an initial increase from $43.567 billion in 2021 to $45.033 billion in 2022, before declining to $35.947 billion in 2024. A partial recovery occurred in 2025 at $36.229 billion, with a significant jump to $57.602 billion in 2026. This volatility is primarily attributable to movements in cash, accounts receivable, and inventories. Cash and cash equivalents decreased consistently from $14.201 billion in 2021 to $3.633 billion in 2025, before rising sharply to $11.528 billion in 2026. Accounts receivable also exhibited a decline from 2022 to 2024, followed by increases in 2025 and 2026. Inventories showed considerable variation, peaking at $5.898 billion in 2022, decreasing in subsequent years, and then increasing substantially in 2025 and 2026.
Non-Current Assets: Non-current assets experienced a more pronounced decline, decreasing from $79.848 billion in 2021 to $46.142 billion in 2024. This decrease was less dramatic in 2025 at $43.517 billion, and then increased to $43.684 billion in 2026. The most significant component of non-current assets, goodwill, decreased substantially from $40.829 billion in 2021 to $19.120 billion in 2025, with a slight increase to $19.547 billion in 2026. Intangible assets also followed a downward trend, decreasing from $14.429 billion in 2021 to $4.533 billion in 2026. Property, plant, and equipment remained relatively stable throughout the period, fluctuating between $5.415 billion and $6.432 billion. Long-term financing receivables remained relatively consistent.
Related Party Transactions: Amounts due from related parties were initially absent, then appeared in 2022 and 2023, before disappearing again in 2024, 2025, and 2026. The values were $131 million, $378 million, and $710 million respectively, suggesting intermittent transactions with affiliated entities.
Assets Held for Sale: Current assets held for sale were not present until 2025, when they reached $668 million, indicating a potential divestiture or restructuring activity during that year.

The substantial changes in total assets, particularly the decline from 2021 to 2024 and the subsequent recovery, warrant further investigation. The significant reduction in goodwill and intangible assets suggests potential impairment charges or strategic shifts in asset valuation. The increase in cash and accounts receivable in 2026 may indicate improved liquidity or changes in credit policies. The appearance of assets held for sale in 2025 suggests potential strategic repositioning.

Dell Technologies Inc. (NYSE:DELL)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items