Stock Analysis on Net

Dell Technologies Inc. (NYSE:DELL)

$24.99

Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

Dell Technologies Inc., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Add: Non-controlling interests (per books)
Total equity
Add: Short-term debt (per books)
Add: Long-term debt (per books)
Total equity and debt
Less: Cash and cash equivalents
Enterprise value (EV)

Based on: 10-K (reporting date: 2025-01-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

Dell Technologies Inc., EV calculation

Microsoft Excel
Jan 31, 2025 Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Add: Non-controlling interests (book value)
Total equity
Add: Short-term debt (book value)
Add: Long-term debt (book value)
Total equity and debt
Less: Cash and cash equivalents
Enterprise value (EV)

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).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Dell Technologies Inc. Annual Report.

3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Common Equity (Market Value)
The common equity market value demonstrated considerable volatility over the observed periods. It exhibited a significant increase from 28,655 million USD in early 2020 to a peak of 67,870 million USD in early 2021. Following this peak, there was a sharp decline to 29,146 million USD by early 2023. A strong rebound occurred in early 2024 reaching 80,658 million USD, followed by a decrease to 68,989 million USD in early 2025.
Total Equity
Total equity mirrored the pattern seen in common equity, indicating similar underlying factors influencing both measures. It rose sharply from 33,384 million USD in early 2020 to 72,944 million USD in early 2021, then dropped significantly to 29,243 million USD in early 2023. A recovery was noted in early 2024 to 80,753 million USD, then a subsequent decrease to 69,084 million USD in early 2025.
Total Equity and Debt
This combined measure of the company's capital structure displayed fluctuations consistent with the equity trends but showed less dramatic changes. It increased from 85,440 million USD in early 2020 to 120,928 million USD in early 2021, followed by a drop to 58,831 million USD in early 2023. It then rose again to 106,747 million USD in early 2024, ending at 93,651 million USD in early 2025.
Enterprise Value (EV)
The enterprise value followed a similar trend to total equity and debt, indicating overall market valuation shifts. It increased from 76,138 million USD in early 2020 to 106,727 million USD in early 2021, then decreased to 50,224 million USD in early 2023. A rebound occurred to 99,381 million USD in early 2024, followed by a decline to 90,018 million USD in early 2025.
General Observations
The financial data reveals a cycle of strong growth in 2021, followed by a marked contraction by early 2023 across all key capital and valuation metrics. Subsequently, in 2024, the company experienced significant recoveries in market and book values, before experiencing a moderate decrease in early 2025. The fluctuations suggest sensitivity to market conditions or internal business factors influencing equity and enterprise valuation substantially within this timeframe.