Dell Technologies (DELL) FY2020 results: revenue $84.8 billion, down 6.4% on the year
Dell Technologies Inc. (DELL) reported revenue of $84.8 billion for fiscal 2020, the year ended 31 January 2020, down 6.4% on the year before. Net income was $4.6 billion, and diluted earnings per share $6.03. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2020.
Revenue
$84.8 billion
-6.4% on the year
FY2015FY2020
Operating margin
2.8%
-0.2% a year earlier
FY2015FY2020
Net income
$4.6 billion
FY2015FY2020
Diluted EPS
$6.03
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
84,815
90,621
79,040
-6.4%
Cost of revenue
64,176
65,568
58,606
-2.1%
Gross profit
20,639
25,053
20,537
-17.6%
Gross margin
24.3%
27.6%
26.0%
Research and development
2,454
4,604
4,384
-46.7%
Selling, general and administrative
15,819
20,640
18,569
-23.4%
Operating income
2,366
-191
-2,416
Operating margin
2.8%
-0.2%
-3.1%
Interest expense
2,334
2,488
2,406
-6.2%
Pre-tax income
-51.0
-2,361
-4,769
Income tax
-572
-180
-1,843
Net income
4,616
-2,310
-2,849
Net margin
5.4%
-2.5%
-3.6%
Diluted EPS
$6.03
-$6.04
-$5.62
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
9,291
6,991
6,843
+32.9%
Capital expenditure
2,576
1,497
1,212
+72.1%
Free cash flow
6,715
5,494
5,631
+22.2%
Free cash flow margin
7.9%
6.1%
7.1%
Cash from investing
-4,686
3,389
-2,875
Cash from financing
-4,604
-14,329
403
Depreciation and amortisation
6,143
7,746
8,634
-20.7%
Share-based compensation
1,262
918
835
+37.5%
Buybacks
8.0
14,075
724
-99.9%
Dividends paid
0.0
2,134
0.0
Diluted shares, weighted
751m
n/a
n/a
Shares outstanding at period end
743m
719m
769m
+3.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-1,574
-5,765
11,719
Non-controlling interest
4,729
4,823
5,766
-1.9%
Redeemable equity
629
1,196
384
-47.4%
Debt
52,056
53,521
51,871
-2.7%
Operating lease liabilities
1,360
0.0
n/a
Other liabilities
61,661
58,045
54,453
+6.2%
Total liabilities and equity
118,861
111,820
124,193
+6.3%
Fixed assets
6,055
5,259
5,390
+15.1%
Goodwill
21,159
40,089
39,920
-47.2%
Intangible assets
18,107
22,270
28,265
-18.7%
Investments
864
1,005
6,350
-14.0%
Cash and equivalents
9,302
9,676
13,942
-3.9%
Receivables
12,484
12,371
11,721
+0.9%
Inventory
3,281
3,649
2,678
-10.1%
Other assets
47,609
17,501
15,927
+172.0%
Total assets
118,861
111,820
124,193
+6.3%
10-K for the year ended 31 January 2020, filed 27 March 2020: the filing.