Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- 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., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
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 position is characterized by a significant shift in liability composition and a persistent deficit in total stockholders' equity, despite a steady improvement in retained earnings. A notable trend is the transition from high long-term debt levels to a more concentrated reliance on short-term operational liabilities in the latter stages of the observed period.
- Current Liabilities and Short-Term Obligations
- Current liabilities exhibit substantial volatility, with a marked increase in the most recent quarters. Specifically, accounts payable rose from approximately 20.6 billion US dollars in February 2024 to 45.3 billion US dollars by May 2026. This surge significantly drove the total current liabilities to a peak of 74.6 billion US dollars in May 2026, up from 47.7 billion US dollars in February 2024. Short-term debt remained relatively stable between 5 billion and 8 billion US dollars for much of the period, following a peak of 16.3 billion US dollars in October 2021.
- Long-Term Debt and Non-Current Liabilities
- A significant deleveraging trend occurred in long-term debt, which decreased from 48.4 billion US dollars in May 2020 to approximately 21.1 billion US dollars by January 2022. Since early 2022, long-term debt has remained relatively stable, fluctuating between 17.8 billion and 23.9 billion US dollars. Consequently, non-current liabilities declined from a high of 66.5 billion US dollars in May 2020 to a low of 33.5 billion US dollars in August 2024, before trending upward again to 41.7 billion US dollars by May 2026.
- Stockholders' Equity and Retained Earnings
- Total stockholders' equity has remained predominantly in a deficit since January 2022. While total equity peaked at 14.2 billion US dollars in October 2021, it shifted to a deficit of 1.6 billion US dollars in January 2022 and has remained negative through May 2026, ending at -1.4 billion US dollars. This deficit persists despite a strong positive trend in retained earnings, which improved from an accumulated deficit of 16.9 billion US dollars in May 2020 to a positive balance of 6.3 billion US dollars by May 2026.
- Capital Allocation and Treasury Stock
- The divergence between growing retained earnings and a continuing equity deficit is primarily attributed to aggressive treasury stock acquisitions. The cost of treasury stock increased steadily from 305 million US dollars in May 2020 to 16.1 billion US dollars by May 2026. This indicates a consistent strategy of returning capital to shareholders through share buybacks, which has offset the gains in retained earnings and maintained the negative equity position.
- Total Liabilities and Structural Changes
- Total liabilities showed a general decline from 116.6 billion US dollars in May 2020 to a low of 81.1 billion US dollars in January 2025, followed by a sharp increase to 116.3 billion US dollars by May 2026. Additionally, a structural change is evident in non-controlling interests, which dropped sharply from 5.2 billion US dollars in October 2021 to approximately 100 million US dollars in January 2022, remaining at that lower level until the data ends.