Price to Earnings (P/E)
since 2019
Calculation
Dell Technologies Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to Dell Technologies Inc.1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 25, 2025 | 15.02 | = | 98.86 | ÷ | 6.58 | 6.58 | = | 4,592 | ÷ | 697,840,821 | |
| Mar 25, 2024 | 25.12 | = | 113.00 | ÷ | 4.50 | 4.50 | = | 3,211 | ÷ | 713,790,335 | |
| Mar 30, 2023 | 11.94 | = | 39.86 | ÷ | 3.34 | 3.34 | = | 2,442 | ÷ | 731,204,853 | |
| Mar 24, 2022 | 7.31 | = | 53.51 | ÷ | 7.32 | 7.32 | = | 5,563 | ÷ | 760,398,349 | |
| Mar 26, 2021 | 20.88 | = | 88.99 | ÷ | 4.26 | 4.26 | = | 3,250 | ÷ | 762,667,390 | |
| Mar 27, 2020 | 6.21 | = | 38.75 | ÷ | 6.24 | 6.24 | = | 4,616 | ÷ | 739,473,681 | |
| Mar 29, 2019 | — | = | 58.69 | ÷ | -3.21 | -3.21 | = | -2,310 | ÷ | 718,529,194 |
Based on: 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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Dell Technologies Inc. Annual Report.
- Share Price Trends
- The share price of the company experienced considerable volatility over the examined period. Initially, there was a significant decline from $58.69 in March 2019 to $38.75 in March 2020. This was followed by a sharp rise to $88.99 in March 2021, after which the price decreased again to $53.51 in March 2022 and further to $39.86 in March 2023. Subsequently, there was a marked increase reaching $113 in March 2024, before slightly declining to $98.86 in March 2025. These fluctuations indicate periods of uncertainty and recovery, with the most notable peak occurring in March 2024.
- Earnings Per Share (EPS) Analysis
- EPS demonstrated notable variation as well. The company shifted from a negative EPS of -$3.21 in March 2019 to a positive $6.24 in March 2020. Although there was a decrease to $4.26 in March 2021, EPS rebounded to $7.32 in March 2022. The following two years saw EPS decline to $3.34 in March 2023, followed by incremental recoveries to $4.5 in March 2024 and $6.58 in March 2025. Overall, EPS reflects cyclical profitability with recovery phases succeeding downturns, ending in a general upward trend after the lows.
- Price-to-Earnings (P/E) Ratio Patterns
- The P/E ratio was not available for March 2019 due to negative EPS. It stood at 6.21 in March 2020, increased substantially to 20.88 in March 2021, and dropped to 7.31 in March 2022. In March 2023, the ratio increased again to 11.94, peaked at 25.12 in March 2024, and reverted to 15.02 in March 2025. These variations imply changing investor perceptions of earnings growth and risk, with elevated P/E ratios indicating periods of high market expectations relative to current earnings.
Comparison to Competitors
Dell Technologies Inc., P/E, long-term trends, comparison to competitors
| Dell Technologies Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|
| Mar 25, 2025 | 15.02 | — | — | — | — |
| Mar 25, 2024 | 25.12 | 35.95 | 45.95 | 19.00 | 23.45 |
| Mar 30, 2023 | 11.94 | 28.33 | 39.77 | 18.26 | 21.10 |
| Mar 24, 2022 | 7.31 | 24.82 | 32.05 | 15.78 | 12.72 |
| Mar 26, 2021 | 20.88 | 25.96 | 47.57 | 23.34 | 16.15 |
| Mar 27, 2020 | 6.21 | 32.24 | 37.42 | 15.46 | 17.04 |
| Mar 29, 2019 | — | 20.00 | 19.88 | 17.69 | 15.81 |
Based on: 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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
Comparison to Sector (Technology Hardware & Equipment)
Dell Technologies Inc., P/E, long-term trends, comparison to sector (technology hardware & equipment)
| Dell Technologies Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Mar 25, 2025 | 15.02 | — |
| Mar 25, 2024 | 25.12 | 34.19 |
| Mar 30, 2023 | 11.94 | 27.04 |
| Mar 24, 2022 | 7.31 | 23.16 |
| Mar 26, 2021 | 20.88 | 25.71 |
| Mar 27, 2020 | 6.21 | 28.10 |
| Mar 29, 2019 | — | 20.94 |
Based on: 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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
Comparison to Industry (Information Technology)
Dell Technologies Inc., P/E, long-term trends, comparison to industry (information technology)
| Dell Technologies Inc. | Information Technology | |
|---|---|---|
| Mar 25, 2025 | 15.02 | — |
| Mar 25, 2024 | 25.12 | 45.22 |
| Mar 30, 2023 | 11.94 | 36.08 |
| Mar 24, 2022 | 7.31 | 26.90 |
| Mar 26, 2021 | 20.88 | 29.73 |
| Mar 27, 2020 | 6.21 | 31.25 |
| Mar 29, 2019 | — | 23.31 |
Based on: 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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).