Dell Technologies Inc. (NYSE:DELL)

Gross Profit Margin

The gross profit margin shows a consistent declining trend starting from around 31.4% in early 2020 and decreasing steadily to approximately 20.92% by late 2022. After hitting this low point, the margin exhibits a modest recovery, stabilizing in the 22% to 23.6% range across 2023 and early 2024 periods.

Operating Profit Margin

Operating profit margin has demonstrated gradual growth over the analyzed timeframe. Starting near 2.85% in early 2020, it increased consistently to reach around 6.7% by early 2025. This upward trend suggests improved operational efficiency or cost control measures after the initial periods.

Net Profit Margin

The net profit margin reflects notable volatility. Initial values fluctuate around 4% to 5% with some dips to around 1.74% in early 2023. Despite this variability, the margin generally recovers and trends upward, reaching close to 4.75% by early 2025. This indicates improvement in overall profitability after a period of fluctuations.

Return on Equity (ROE)

The ROE data is sporadic, with extremely elevated values observed in late 2020 and early 2021. Numbers around 275% and subsequent declines to near 75% or lower suggest the presence of extraordinary or non-recurring factors affecting equity returns during those periods. No consistent long-term trend can be confidently established given the incomplete data.

Return on Assets (ROA)

ROA displays moderate variability but an overall positive trajectory. From roughly 3.88% in early 2020, it dips as low as 1.73% during late 2019 but then improves steadily, peaking around 6.5% in early 2022. After a brief decline, ROA trends upward once more, reaching approximately 5.29% by early 2025. This pattern suggests enhanced asset utilization and profitability over time.

The analyzed financial data reveals several noteworthy trends in key performance metrics over the given periods.

Net Revenue

Net revenue displays a general pattern of fluctuations with periods of growth followed by declines, suggesting variability in the company's sales or service income. Starting from lower levels in early periods, it shows a rise reaching peaks around early 2022, followed by a downward adjustment through subsequent quarters. Despite this volatility, the overall trend leans towards stabilization with relatively higher values in later quarters compared to initial periods. This indicates some recovery after dips, though the revenue figures do not maintain a steady upward trajectory.

Gross Margin (US$ in millions)

Gross margin amounts closely track net revenue trends but with noticeable volatility. The margin exhibits a peak in the early 2021 period, after which there is a marked decline, particularly sharp in some quarters such as early 2021. Subsequent quarters reveal attempts at recovery, but gross margin figures fluctuate significantly, indicating varying cost of goods sold or changes in pricing strategies. The decline and recovery cycles in gross margin relative to revenue suggest dynamic operational challenges or shifting market conditions impacting profitability levels.

Gross Profit Margin (%)

The gross profit margin percentage shows a clear declining trend over the data horizon. Starting at approximately 31-32% in early periods, it gradually drops to the low 20% range in later quarters. This consistent decline indicates either increasing costs, pricing pressure, or a change in sales mix towards lower-margin products. While some minor fluctuations occur, the overall trajectory suggests a potential erosion in operational efficiency or competitive positioning impacting the proportion of profit retained after direct costs.

Overall, the reviewed data reflects a company experiencing revenue and gross margin volatility with a downward trend in gross profit margin percentage, highlighting potential pressures on cost management and profitability margins over the analyzed time frame.

The analyzed financial data reveals several key trends in the company's operating income, net revenue, and operating profit margin over the observed periods.

Operating Income

Operating income shows a generally fluctuating pattern with notable peaks and troughs throughout the periods. There is a marked increase reaching a peak of 2,177 million US dollars by January 2021, followed by several fluctuations and another significant high at 2,307 million US dollars in November 2024. The data indicates periods of strong operating income growth interspersed with declines, reflecting variable profitability levels over time.

Net Revenue

Net revenue generally maintains a relatively stable range with moderate fluctuations. Initial values around 21,908 million US dollars in May 2019 increase gradually to peaks reaching nearly 27,992 million US dollars by January 2022. Following this, revenue shows minor declines and recoveries, ending at 23,378 million US dollars in May 2025. Overall, net revenue demonstrates a semblance of growth with cyclic variations.

Operating Profit Margin

The operating profit margin, available starting from late 2019, exhibits a steady upward trend. Beginning at approximately 2.85%, it gradually increases through the years, achieving margins above 6% by the last reported dates in early 2025. This steady improvement suggests enhanced efficiency or cost management practices contributing to greater profitability relative to revenue.

In summary, the company's operating income experiences variability with significant peaks that imply episodic profitability surges, while net revenue remains comparatively stable with moderate growth. Meanwhile, the operating profit margin steadily improves, indicating more effective operation and higher returns on sales over time.

Net Income Attributable to Dell Technologies Inc.

The net income figures demonstrate significant volatility over the observed periods. Early data points show moderate earnings, with a notable spike in the quarter ending October 29, 2021, reaching a peak of 3843 million US dollars. This peak is followed by fluctuating values, including some low points such as 2 million US dollars in the subsequent quarter. From early 2022 onward, net income generally stabilizes with fluctuations ranging between approximately 462 million and 1654 million US dollars. Recent quarters indicate a recovery trend, with net income climbing back to levels above 1000 million US dollars before exhibiting some decline toward the latest period.

Net Revenue

Net revenue across the quarters remains relatively stable with moderate fluctuations. Initial values around 21,900 to 26,000 million US dollars persist throughout the timeline without drastic shifts. A gradual increase is seen with peaks near 27,992 million US dollars around January 28, 2022. Subsequently, net revenue slightly decreases and stabilizes around the 22,000 to 25,000 million US dollars range. The overall revenue pattern shows fluctuations within a band of approximately 21,900 to 27,900 million US dollars, without a consistent long-term upward or downward trajectory.

Net Profit Margin (%)

Net profit margin information begins from the quarter ending January 31, 2020, displaying values generally between 2% and 6%. A pronounced increase is noted in the quarter ending October 29, 2021, with the margin rising above 6.8%. Following this peak, margins moderate but remain positively stable, fluctuating predominantly between 2% and 5%. The most recent quarters show a slight upward trend with margins nearing 4.8%, suggesting improving profitability relative to revenue.

Overall Trends and Insights

The data indicates that net income exhibits higher variability compared to net revenue, which remains comparatively steady. Peaks in net income and profit margins around late 2021 suggest significant one-off gains or operational efficiencies during that period. Despite these fluctuations, both net revenue and profit margin demonstrate resilience, maintaining stable levels in recent quarters. The company's ability to sustain net profit margins around 4%–5% amidst variable income figures points to consistent operational control and cost management. The recovery in net income towards the latest quarters also aligns with a modest improvement in profitability ratios, indicating potential operational strengthening or market conditions favoring enhanced earnings.

The analysis of the quarterly financial data reveals several notable trends and fluctuations in the performance metrics over the examined periods.

Net Income Attributable to Dell Technologies Inc.

The net income figures show significant volatility across the quarters. Initial data points indicate a low net income of 293 million US dollars in May 2019, followed by a sharp increase to 3,416 million in August 2019. Subsequently, the net income declined dramatically in the following quarters, with several periods registering values below 1,000 million US dollars. A remarkable peak occurs in October 2021 with net income soaring to 3,843 million US dollars, representing the highest value recorded in the dataset. After this peak, the net income returns to moderate levels, exhibiting some cyclical increases and decreases, remaining mostly within a range of 400 to 1,600 million US dollars. The latest reported quarter in May 2025 shows a net income of 965 million US dollars, indicating a moderate position relative to historical values.

Total Stockholders’ Equity (Deficit)

Stockholders' equity displays a persistent pattern of negative and positive swings, suggesting fluctuations in the company’s financial stability and capital structure. The period begins with a substantial deficit of -6,464 million US dollars in May 2019, gradually improving to a positive 8,954 million US dollars by October 2021. This turnaround signifies a strong capital recovery phase. However, following this high point, equity deteriorates again, slipping into negative territory for most of the subsequent periods and reaching a deficit of -3,024 million US dollars in May 2025. The pattern indicates instability, with the equity fluctuating significantly, potentially reflecting changes in retained earnings, share repurchases, or other equity-affecting activities.

Return on Equity (ROE)

The ROE data is only available for a few periods, with exceptionally high values recorded during the quarters from October 2020 to April 2021, including percentages exceeding 100%, with a peak of 275.31% in October 2020. Such extraordinarily high ROE figures suggest that during those quarters, the company achieved substantial profitability relative to its equity base, which may be associated with unusually low or even negative equity values, amplifying the ROE ratio. The data for ROE after this period is missing, preventing further trend analysis.

In summary, the financial data displays a cyclical and volatile pattern in net income, with significant peaks and troughs, while the company’s stockholders’ equity exhibits considerable instability with swings between significant deficits and positive values. The limited ROE data points indicate periods of exceptional profitability relative to equity, likely affected by the fluctuating equity base. These observations suggest that the company experienced phases of financial stress and recovery, which may require further investigation to understand the underlying drivers and sustainability of profitability and capital structure changes.

The financial data over the reviewed quarters reveals several notable trends in profitability, asset management, and return on assets (ROA) for the company.

Net Income

The net income attributable to the company exhibits considerable volatility throughout the periods. Initial figures start modestly, with a significant spike occurring around October 2021, reaching a peak much higher than surrounding quarters. Following this peak, net income declines sharply but recovers partially in subsequent quarters. In the most recent quarters, net income shows a general upward trend, indicating improved profitability or operational performance.

Total Assets

Total assets demonstrate relative stability with minor fluctuations. Initially, assets gradually increase, reaching a high point around October 2021, which corresponds with the highest net income quarter. After this peak, total assets decline noticeably and fluctuate around a somewhat lower range without a clear upward or downward trajectory. This moderation suggests adjustments in asset holdings or possibly asset sales or depreciation effects.

Return on Assets (ROA)

ROA figures, absent in the earliest quarters, begin to provide insight starting in early 2020. The ROA percentage shows moderate variability but generally remains within a band of approximately 2% to 6.5%. Notably, there is an increase in ROA leading up to the mid-2022 period, coinciding partially with increasing net income and asset fluctuations. Post-mid-2022, ROA maintains a range that suggests consistent asset utilization efficiency, with slight gains toward the end of the reported period, indicating improved returns relative to the assets held.

Overall, the data indicates a pattern where net income experiences sharp increases and decreases, while total assets remain more stable but tend to decline after peaking. The return on assets follows a moderate upward trajectory in recent quarters, which may reflect improved profitability relative to the company's asset base. These patterns suggest effective management of resources during periods of volatility, with the potential for continued focus on optimizing asset use to sustain profitability.