Dell Technologies (DELL) FY2025 results: revenue $95.6 billion, up 8.1% on the year
Dell Technologies Inc. (DELL) reported revenue of $95.6 billion for fiscal 2025, the year ended 31 January 2025, up 8.1% on the year before. Net income was $4.6 billion, up 35.5%, and diluted earnings per share $6.38. The figures are the company's own, from the 10-K it filed with the SEC on 25 March 2025.
Revenue
$95.6 billion
+8.1% on the year
FY2018FY2025
Operating margin
6.5%
6.1% a year earlier
FY2018FY2025
Net income
$4.6 billion
+35.5% on the year
FY2018FY2025
Diluted EPS
$6.38
+38.7% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
4,521
8,676
3,565
-47.9%
Capital expenditure
2,652
2,756
3,003
-3.8%
Free cash flow
1,869
5,920
562
-68.4%
Free cash flow margin
2.0%
6.7%
0.5%
Cash from investing
-2,215
-2,783
-3,024
Cash from financing
-5,815
-7,094
-1,625
Depreciation and amortisation
3,123
3,303
3,156
-5.4%
Share-based compensation
785
878
931
-10.6%
Buybacks
2,588
2,080
2,883
+24.4%
Dividends paid
1,275
1,072
964
+18.9%
Dividend per share
$1.78
$1.48
$1.32
+20.3%
Diluted shares, weighted
720m
736m
753m
-2.2%
Shares outstanding at period end
696m
705m
716m
-1.3%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
-1,482
-2,227
-3,122
Non-controlling interest
95.0
95.0
97.0
0.0%
Debt
24,567
25,994
29,588
-5.5%
Operating lease liabilities
522
576
630
-9.4%
Other liabilities
56,044
57,651
62,418
-2.8%
Total liabilities and equity
79,746
82,089
89,611
-2.9%
Fixed assets
6,336
6,432
6,209
-1.5%
Goodwill
19,120
19,700
19,676
-2.9%
Intangible assets
4,988
5,701
6,468
-12.5%
Investments
1,496
1,316
1,518
+13.7%
Cash and equivalents
3,633
7,366
8,607
-50.7%
Receivables
10,298
9,343
12,482
+10.2%
Inventory
6,716
3,622
4,776
+85.4%
Other assets
27,159
28,609
29,875
-5.1%
Total assets
79,746
82,089
89,611
-2.9%
10-K for the year ended 31 January 2025, filed 25 March 2025: the filing.