Dell Technologies Inc. (NYSE:DELL)

Gross Profit Margin

The gross profit margin data begins from the period "May 1, 2020" and shows a declining trend from 31.4% to a low of 20.92% by "Oct 28, 2022". After this decline, there is a modest recovery with margins increasing up to 23.6% around "Feb 2, 2024". Following this peak, a slight downward trend occurs again, ending close to 21.12% in "Aug 1, 2025". Overall, the margin demonstrates a significant drop initially followed by partial stabilization and a minor downward adjustment toward the end of the period analyzed.

Operating Profit Margin

The operating profit margin starts at 2.85% in "May 1, 2020" and shows a steady upward trend, reaching around 6.72% by "Aug 1, 2025". The margin exhibits consistent improvement with minor fluctuations, particularly notable between "Apr 30, 2021" and "May 2, 2025" where margins remain above 5%, suggesting enhanced operational efficiency over time.

Net Profit Margin

Net profit margin values begin from "May 1, 2020" at 5.01%, followed by fluctuations, including a drop to 1.74% by "Oct 28, 2022". Post this decline, margins rise again, peaking around 4.81% at "May 2, 2025" and maintaining levels slightly below 5% through the latest periods. This indicates variable profitability with phases of pressure and recovery, but overall maintaining moderate profitability relative to earlier lows.

Return on Equity (ROE)

ROE is available only for a limited number of periods, showing extraordinarily high values starting at 275.31% and then declining sharply to 131.1%, 114.54%, 78.28%, and 75.81% in subsequent quarters. After this notable decrease, the data for ROE is missing, leaving the trend undetermined beyond the initial sharp decline. The initial figures, though extreme, suggest exceptional equity returns that diminished rapidly over time.

Return on Assets (ROA)

ROA displays a fluctuating trend starting at 3.88% on "May 1, 2020", decreasing to a low of 1.73% by "Nov 1, 2019", then increasing to 6.5% by "Oct 29, 2021". Post this peak, it declines again but shows gradual improvement from around 2.15% in "Feb 3, 2023" to approximately 5.42% by "Aug 1, 2025". The pattern indicates variable asset efficiency with periods of both decline and recovery, ultimately trending toward improvement in later periods.

The analysis of the financial data reveals several notable trends in revenue, gross margin, and gross profit margin over the observed periods.

Net Revenue

Net revenue exhibits fluctuations throughout the quarters, with a general pattern of growth followed by some periods of decline. Starting at approximately $21.9 billion in May 2019, revenue peaks multiple times, reaching just under $28 billion in January 2022. After this peak, revenue decreases and fluctuates around the $22 billion to $25 billion range until a significant increase is observed in August 2025, reaching nearly $30 billion. This indicates periodic cycles of revenue growth and contraction, with recent trends suggesting a potential upturn in sales activity toward the end of the timeline.

Gross Margin (in millions of US dollars)

Gross margin shows a varying trajectory that generally mirrors the revenue trend but with more pronounced volatility. Initially, gross margin rises from approximately $6.8 billion in May 2019 to a high near $8.1 billion in early 2021, reflecting an improvement in absolute profit generation. However, a sharp decline occurs after this peak, dropping to around $4.9 billion by May 2024. A recovery is noted at the final points of the timeline where gross margin rebounds to about $5.4 billion. These fluctuations suggest variations in cost management or pricing strategies impacting profitability over time.

Gross Profit Margin (percentage)

The gross profit margin percentage demonstrates a clear declining trend over the reported quarters. Initial percentages around 31.4% at the start of 2020 gradually decrease to approximately 20.9% by late 2022, which represents a substantial erosion of profit margin relative to revenue. Following this decline, gross profit margin stabilizes between 21% and 23.6% during 2023 to early 2025, before slightly dipping again towards around 21% near the close of the data. This contraction in gross profit margin percentage suggests increased cost pressure or reduced pricing power affecting the company’s profitability over the analyzed period.

In summary, the company experienced growth in net revenue with cyclical variations, while gross margin in absolute terms showed volatility aligned with revenue changes. However, the gross profit margin percentage declined significantly, indicating challenges in maintaining profit levels relative to sales. Towards the most recent quarters, net revenue shows signs of strong growth alongside partial recovery in gross margin, but the profit margin percentage remains subdued compared to earlier periods.

The analysis of the quarterly financial data reveals several notable trends and fluctuations over the observed periods.

Operating Income

The operating income displays considerable variability, with initial values around the mid-hundreds of millions and several significant peaks and troughs throughout the timeline. Notably, there was a sharp increase in January 2021 reaching 2,177 million US dollars, followed by a notable decline to 987 million US dollars in April 2021. Subsequent quarters show fluctuations with a general tendency to recover and surpass earlier levels, peaking again at 2,212 million US dollars in November 2024 before dropping to 1,165 million US dollars in January 2025 and rising again toward the latter periods. This pattern suggests periods of strong operational performance interspersed with declines.

Net Revenue

Net revenue shows an overall increasing trend across the majority of quarters despite some fluctuations. Starting from around 21,908 million US dollars in May 2019, revenue generally increased, peaking at 29,776 million US dollars in August 2025. However, there were intermittent decreases, such as in May 2023 where net revenue dropped to 20,922 million US dollars from previous quarters. Despite these dips, the general trend remains upward, indicating growth in sales or service income over the observed period.

Operating Profit Margin

The operating profit margin shows a clear upward trend over the available data points. From a lower starting point near 2.85% in January 2020, the margin improved steadily, often recording values around or above 5%, reaching values as high as 6.72% by August 2025. This consistent increase signals improving operational efficiency or better cost control measures over time, leading to a higher proportion of revenue being converted into operating profit.

Overall, the data indicates that while operating income has experienced volatility with pronounced peaks and declines, net revenue has generally increased, and the operating profit margin has improved steadily. This combination suggests enhanced profitability and operational effectiveness despite fluctuations in absolute operating income figures.

The financial performance over the analyzed periods reveals notable fluctuations and some stabilization in key metrics. Net income attributable to the company exhibits significant variability, with periods of both pronounced increases and declines. Initial values start relatively low, with abrupt peaks observed in certain quarters such as August 2019 and October 2021, indicating episodic spikes in profitability. Subsequently, there are intervals characterized by more moderate income levels, though the amounts remain somewhat volatile without a clear sustained upward or downward trend.

Net revenue shows a generally stable but slightly fluctuating pattern, with values mostly ranging between approximately 21,000 million and 29,000 million US dollars. There is some cyclicality evident, with certain quarters outperforming others intermittently. Notably, the revenue peaks around January 2022 and again toward the end of the dataset, reaching its highest level in August 2025 at nearly 29,776 million. Despite these variations, the revenue does not present a clear continuous growth trend but maintains a relatively consistent level over time with moderate volatility.

The net profit margin demonstrates an overall moderate range, mainly fluctuating between approximately 2% and 6.8%. It starts appearing in the data from January 2020 onward, showing some improvement and stabilization in later periods. Noteworthy is the spike to 6.83% around October 2021, which corresponds to a high net income quarter in the same timeframe, indicating enhanced profitability during that phase. Following this peak, margins show slight decreases but generally remain above 2%, with a few upward movements approaching around 4 to 5% in recent quarters. This implies some improvement in operational efficiency or cost management relative to revenue generation over time.

Net Income Trends

Highly variable with sharp increases in certain quarters and declines in others; no clear long-term growth or decline pattern.

Net Revenue Trends

Relatively stable, fluctuating moderately around a consistent range; peak values near the end of the period indicate potential revenue growth spurts.

Net Profit Margin Trends

Margins emerge from 2020 with variable but generally moderate levels; highest margin reached in late 2021; recent quarters show some improvement and stabilization above 2%.

Relationship Between Metrics

Periods of high net income align with higher profit margins, highlighting episodes of better profitability despite stable revenue levels.

Overall, the data suggests episodic success in profitability alongside steady revenue generation, with profit margins indicating periods of enhanced efficiency. However, the volatility in net income warrants attention to underlying causes affecting earnings consistency.

The net income attributable to the company demonstrates substantial volatility over the observed periods. Beginning with a modest positive figure, it experiences sharp fluctuations, with peaks such as 3,843 million US dollars and troughs reaching near zero or slightly negative. This indicates a lack of consistent profitability quarter over quarter, although certain quarters show significant earnings strength, notably in late 2021 and mid-2024.

Total stockholders’ equity presents a complex pattern. Initially, it remains negative, indicating a deficit in equity, but over time there are intervals of recovery where equity turns positive, peaking around 8,954 million US dollars. However, this positive trend does not sustain, and the equity returns to negative territory in subsequent quarters. This cyclical behavior suggests periods where the company's liabilities exceed its assets, alternating with phases of equity strength.

The available data for Return on Equity (ROE) is incomplete, yet the recorded values are exceptionally high in some quarters, especially between mid-2020 and early 2022. Values exceeding 100% indicate that during these periods, the net income was disproportionately high relative to the equity base, which might be influenced by the low or negative equity values reported. After early 2022, ROE data is absent, limiting further analysis of profitability in relation to equity.

Overall, the financial data reveal a company with highly fluctuating profitability and equity positions. The net income figures, while occasionally strong, lack consistent upward momentum. Stockholders’ equity oscillates between deficits and surpluses, which complicates the assessment of financial stability. The extreme ROE values during certain periods reflect high earnings relative to a diminished equity base rather than sustainable profitability. These trends highlight the company's exposure to volatility in both earnings and capital structure across the analyzed quarters.

Net Income Trends

Characterized by marked volatility with some quarters showing substantial profits and others near breakeven or minimal gains.

Significant earnings spikes were noted in late 2021 and mid-2024.

Stockholders’ Equity Trends

Initial negative equity indicates deficit, followed by intermittent recovery periods with peak positive equity.

The equity position again deteriorates into negative territory in later quarters, demonstrating fiscal variability.

Return on Equity (ROE)

Recorded ROE values are extremely elevated in certain quarters, implying high returns relative to a compact equity base.

Data gaps beyond early 2022 limit extended trend interpretation.

Overall Financial Stability

The observed patterns indicate significant fluctuations in financial health and profitability.

The interplay between net income volatility and equity position swings signals underlying operational and capital structure challenges.

The analysis of the quarterly financial data reveals the following trends and patterns in the company's performance over multiple periods.

Net Income Attributable to Dell Technologies Inc.

The net income values exhibit significant volatility throughout the periods reported. Initially, net income was relatively moderate, with occasional spikes demonstrating periods of improved profitability, such as in August 2019 and October 2021. However, there were also quarters with notably low or near-zero net income, for example in January 2022.

From early 2022 onward, net income shows irregular fluctuations with several increases and decreases. Notably, there is an upward trend starting from late 2022 through early 2024, with net income peaking at higher levels compared to the earlier periods. Following this, net income continues to exhibit some variation but generally maintains a higher plateau compared to the earliest quarters in the dataset.

Total Assets

Total assets demonstrate a gradual increase from the beginning of the data through late 2021, moving from about 110 billion USD to a peak at approximately 135.7 billion USD in October 2021. This increase indicates asset growth and potential expansion or investment by the company during this period.

Post-October 2021, there is a noticeable decline in total assets, falling to a low in the 79–87 billion USD range between early 2023 and mid-2024. The latter part of the data shows some recovery with assets trending upward again, reaching close to 89 billion USD by August 2024. This pattern may suggest asset optimization, divestitures, or fluctuations in capital structure.

Return on Assets (ROA)

Return on assets data begins from the January 2020 quarter, showing moderate figures between 1.73% and 3.88%. During 2021, ROA improves consistently, reaching up to 6.5%, reflecting enhanced efficiency in asset utilization to generate earnings.

Post-2021, ROA remains relatively strong, fluctuating mostly between approximately 2% and 6%, with a general upward trend from early 2023 through early 2025. The ROA figures indicate that the company has been relatively successful in leveraging its asset base to produce profits despite variations in net income and total assets.

Overall, the data indicates that the company experienced unstable net income performance with notable spikes and troughs but managed a growth in total assets initially, followed by reduction and stabilization. Meanwhile, the efficiency of asset use as measured by ROA tended to improve over time, underscoring better operational profitability relative to asset size, especially in the most recent periods analyzed.