Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Selected Financial Data since 2019
- Return on Assets (ROA) since 2019
- Debt to Equity since 2019
- Price to Earnings (P/E) since 2019
- Price to Sales (P/S) since 2019
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Dell Technologies Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-11-01), 10-Q (reporting date: 2019-08-02), 10-Q (reporting date: 2019-05-03).
- Net income
- Net income exhibited significant volatility across the periods, peaking notably at 4,232 million USD in August 2019, which was an exceptionally high point compared to other quarters. Following this, the net income displayed a fluctuating but generally lower trend fluctuating between losses and gains, and more recently stabilizing around 900 to 1,600 million USD. This variability indicates intermittent profitable quarters likely impacted by operational or market challenges.
- Depreciation and amortization
- Depreciation and amortization consistently ranged between approximately 700 and 1,600 million USD with a slight downward trend starting around January 2022, suggesting some reduction in capitalized asset values or changes in asset base during later periods.
- Stock-based compensation expense
- Stock-based compensation expense showed relative stability, fluctuating moderately around 200 to 500 million USD per quarter, with a general mild decline beginning in early 2022. This may reflect adjustments in compensation policies or employee equity awards.
- Deferred income taxes
- Deferred income taxes demonstrated significant fluctuations including both positive and negative figures. The variability indicates volatile tax effects possibly from timing differences in income recognition or changes in tax regulation impacts over time.
- Other, net
- This category showed inconsistent values with substantial negative spikes such as in October 2021 (-4,017 million USD) and large positive reversals, indicating irregular one-off or non-recurring items affecting this line.
- Accounts receivable
- Accounts receivable presented pronounced volatility with frequent large swings into negative and positive values. This unpredictability suggests irregularities in credit sales collections or changes in billing cycles across quarters.
- Financing receivables
- Financing receivables hovered mostly around small negative to small positive values, implying relatively stable but minor fluctuations in receivables related to financing activities.
- Inventories
- Inventories showed significant quarterly swings with both sharp decreases and increases, evidencing variability in supply chain or stock management practices over the periods analyzed.
- Other assets and liabilities
- This line item fluctuated markedly including large negative and positive balances reflecting substantial movement in miscellaneous asset and liability accounts that may signal adjustments or reclassifications.
- Accounts payable
- Accounts payable experienced large fluctuations, alternating between significant increases and decreases, suggestive of variability in vendor payments and possibly changes in procurement terms.
- Deferred revenue
- Deferred revenue's pattern was irregular, switching between positive and negative values, consistent with periodic timing differences in revenue recognition or contract adjustments.
- Changes in assets and liabilities
- This line showed sharp movements both upward and downward, reflecting ongoing fluctuations in working capital components that influence cash flow dynamics.
- Adjustments to reconcile net income to net cash provided by operating activities
- Adjustments fluctuated largely, with some unusually high values indicating the presence of significant non-cash expenses or income items and timing differences affecting cash flow reconciliation.
- Change in cash from operating activities
- Cash flows from operating activities were generally positive but variable, reaching several peaks such as during January 2021 and October 2021, indicating strong cash generation in some quarters despite variability.
- Purchases and maturities/sales of investments
- Purchases of investments generally remained modest with slight fluctuations, whereas maturities and sales of investments showed variability, reflecting active portfolio management.
- Capital expenditures and capitalized software development costs
- Capital expenditures remained relatively stable with consistent investment levels around 500 to 800 million USD per quarter, indicating steady reinvestment in infrastructure and development.
- Acquisition and divestitures of businesses and assets, net
- Acquisitions and divestitures showed sporadic activity, with some quarters reflecting large one-time transactions, particularly noticeable in divestitures around October 2021 (3,957 million USD inflow).
- Change in cash from investing activities
- Investing cash flows fluctuated markedly, including large positive inflows due to divestitures and negative outflows reflecting acquisitions and capital spending, resulting in inconsistent investing activity impacts on cash position.
- Dividends and stock transactions
- Common stock issuances were relatively minor and sporadic. Repurchases of common stock showed a strong and consistent outflow trend, indicating substantial capital returned to shareholders across multiple quarters. Dividend payments remained consistent, indicating an ongoing commitment to shareholder returns.
- Proceeds and repayments of debt
- Debt proceeds and repayments exhibited substantial oscillations with periods of heavy borrowing followed by significant repayments, illustrating active debt management and refinancing activities. Net financing flows were therefore highly variable.
- Change in cash from financing activities
- Cash flows from financing activities were uneven, featuring notable positive spikes due to borrowings and negative swings related to debt repayments and stock repurchases, reflecting a dynamic financing strategy.
- Effect of exchange rate changes on cash
- Exchange rate impacts on cash were mostly minor but negative overall, with occasional positive adjustments, signaling some currency-related volatility affecting reported cash balances.
- Overall change in cash, cash equivalents, and restricted cash
- The overall cash position showed significant volatility across quarters, with periods of strong increases but also sharp declines, consistent with the combined effects of operating, investing, and financing activities as well as currency impacts.