Return on Assets (ROA)
since 2019
Calculation
Dell Technologies Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to Dell Technologies Inc.1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Jan 30, 2026 | 5.86% | = | 100 | × | 5,936) | ÷ | 101,286) |
| Jan 31, 2025 | 5.76% | = | 100 | × | 4,592) | ÷ | 79,746) |
| Feb 2, 2024 | 3.91% | = | 100 | × | 3,211) | ÷ | 82,089) |
| Feb 3, 2023 | 2.73% | = | 100 | × | 2,442) | ÷ | 89,611) |
| Jan 28, 2022 | 6.00% | = | 100 | × | 5,563) | ÷ | 92,735) |
| Jan 29, 2021 | 2.63% | = | 100 | × | 3,250) | ÷ | 123,415) |
| Jan 31, 2020 | 3.88% | = | 100 | × | 4,616) | ÷ | 118,861) |
| Feb 1, 2019 | -2.07% | = | 100 | × | (2,310) | ÷ | 111,820) |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 US$ in millions
Return on Assets (ROA) exhibited significant fluctuation between 2019 and 2026. Initial observations reveal a substantial improvement from a negative value in 2019 to positive and increasing values through 2022, followed by a period of stabilization and continued growth.
- Overall Trend
- The period began with a negative ROA of -2.07% in 2019. This was followed by a strong positive shift, reaching 3.88% in 2020 and continuing to 6.00% in 2022. The ROA experienced a slight decrease to 2.73% in 2023, before resuming an upward trajectory, culminating in 5.86% in 2026.
- Initial Recovery (2019-2022)
- The most dramatic change occurred between 2019 and 2022. The move from a negative ROA to 6.00% indicates a significant improvement in profitability relative to asset base. This suggests successful strategic adjustments or favorable market conditions during this timeframe. The increase in net income, coupled with a decrease in total assets in 2022, contributed to this substantial rise.
- Recent Performance (2023-2026)
- From 2023 to 2026, ROA demonstrated a more moderate, yet positive, trend. While a slight dip was observed in 2023, the ROA recovered and continued to increase, reaching 5.86% in 2026. This suggests a sustained level of profitability and efficient asset utilization. The increase in total assets in 2026, alongside a corresponding increase in net income, supported this continued growth.
- Net Income and Asset Relationship
- The relationship between net income and total assets appears to be a primary driver of the ROA fluctuations. The substantial increase in net income between 2019 and 2022, combined with asset management, significantly boosted ROA. The subsequent years demonstrate a consistent correlation between increases in net income and ROA, indicating that profitability remains a key factor in asset efficiency.
In conclusion, the ROA demonstrates a recovery and sustained growth pattern over the analyzed period. While initial years showed significant volatility, the latter years indicate a more stable and positive trend, suggesting improved profitability and efficient asset utilization.
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Comparison to Competitors
Dell Technologies Inc., ROA, long-term trends, comparison to competitors
| Dell Technologies Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Jan 30, 2026 | 5.86% | — | — | — | — | — |
| Jan 31, 2025 | 5.76% | 31.18% | 18.05% | 8.32% | 0.61% | 7.48% |
| Feb 2, 2024 | 3.91% | 25.68% | 20.31% | 8.29% | -13.90% | 11.73% |
| Feb 3, 2023 | 2.73% | 27.51% | 20.98% | 12.38% | -2.84% | 17.42% |
| Jan 28, 2022 | 6.00% | 28.29% | 19.96% | 12.57% | 4.78% | 8.90% |
| Jan 29, 2021 | 2.63% | 26.97% | 14.66% | 10.86% | 11.19% | 4.99% |
| Jan 31, 2020 | 3.88% | 17.73% | 13.39% | 11.82% | 4.12% | 4.39% |
| Feb 1, 2019 | -2.07% | 16.32% | 20.54% | 11.88% | -1.34% | 4.27% |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
Comparison to Sector (Technology Hardware & Equipment)
Dell Technologies Inc., ROA, long-term trends, comparison to sector (technology hardware & equipment)
| Dell Technologies Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Jan 30, 2026 | 5.86% | — |
| Jan 31, 2025 | 5.76% | 21.93% |
| Feb 2, 2024 | 3.91% | 18.48% |
| Feb 3, 2023 | 2.73% | 20.39% |
| Jan 28, 2022 | 6.00% | 21.50% |
| Jan 29, 2021 | 2.63% | 18.83% |
| Jan 31, 2020 | 3.88% | 13.53% |
| Feb 1, 2019 | -2.07% | 11.76% |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
Comparison to Industry (Information Technology)
Dell Technologies Inc., ROA, long-term trends, comparison to industry (information technology)
| Dell Technologies Inc. | Information Technology | |
|---|---|---|
| Jan 30, 2026 | 5.86% | — |
| Jan 31, 2025 | 5.76% | 15.40% |
| Feb 2, 2024 | 3.91% | 11.91% |
| Feb 3, 2023 | 2.73% | 12.44% |
| Jan 28, 2022 | 6.00% | 14.47% |
| Jan 29, 2021 | 2.63% | 14.59% |
| Jan 31, 2020 | 3.88% | 11.42% |
| Feb 1, 2019 | -2.07% | 11.75% |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).