Dell Technologies (DELL) FY2019 results: revenue $90.6 billion, up 14.7% on the year
Dell Technologies Inc. (DELL) reported revenue of $90.6 billion for fiscal 2019, the year ended 1 February 2019, up 14.7% on the year before. Net income was -$2.3 billion, and diluted earnings per share $-6.04. The figures are the company's own, from the 10-K it filed with the SEC on 29 March 2019.
Revenue
$90.6 billion
+14.7% on the year
FY2015FY2019
Operating margin
-0.2%
-3.1% a year earlier
FY2015FY2019
Net income
-$2.3 billion
FY2015FY2019
Diluted EPS
-$6.04
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
90,621
79,040
62,164
+14.7%
Cost of revenue
65,568
58,606
48,515
+11.9%
Gross profit
25,053
20,537
13,649
+22.0%
Gross margin
27.6%
26.0%
22.0%
Research and development
4,604
4,384
2,636
+5.0%
Selling, general and administrative
20,640
18,569
13,403
+11.2%
Operating income
-191
-2,416
-2,390
Operating margin
-0.2%
-3.1%
-3.8%
Interest expense
2,488
2,406
1,751
+3.4%
Pre-tax income
-2,361
-4,769
-4,494
Income tax
-180
-1,843
-1,420
Net income
-2,310
-2,849
-1,167
Net margin
-2.5%
-3.6%
-1.9%
Diluted EPS
-$6.04
-$5.62
n/a
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
6,991
6,843
2,367
+2.2%
Capital expenditure
1,497
1,212
699
+23.5%
Free cash flow
5,494
5,631
1,668
-2.4%
Free cash flow margin
6.1%
7.1%
2.7%
Cash from investing
3,389
-2,875
-31,256
Cash from financing
-14,329
403
31,785
Depreciation and amortisation
7,746
8,634
4,938
-10.3%
Share-based compensation
918
835
398
+9.9%
Buybacks
14,075
724
611
+1,844.1%
Dividends paid
2,134
0.0
0.0
Shares outstanding at period end
719m
769m
778m
-6.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-5,765
11,719
14,757
Non-controlling interest
4,823
5,766
5,821
-16.4%
Redeemable equity
1,196
384
231
+211.5%
Debt
53,521
51,871
49,390
+3.2%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
58,045
54,453
49,473
+6.6%
Total liabilities and equity
111,820
124,193
119,672
-10.0%
Fixed assets
5,259
5,390
5,653
-2.4%
Goodwill
40,089
39,920
38,910
+0.4%
Intangible assets
22,270
28,265
35,053
-21.2%
Investments
1,005
6,350
1,975
-84.2%
Cash and equivalents
9,676
13,942
9,474
-30.6%
Receivables
12,371
11,721
9,889
+5.5%
Inventory
3,649
2,678
2,538
+36.3%
Other assets
17,501
15,927
16,180
+9.9%
Total assets
111,820
124,193
119,672
-10.0%
10-K for the year ended 1 February 2019, filed 29 March 2019: the filing.