Price · last 3 months · daily close
DELL price
Loading the price chart...
Daily closing prices via yfinance. Quotes are delayed. Past prices are not a guarantee of future results.
ValeriusBeta - Not investment advice
Research · S&P 500 · Information Technology
DELL · Dell Technologies
The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.
Value Scorecard · run 2026-10-18
13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence
39/55
moderate value score11 of 12 checks scored11 of the 12 checks that carry a score were scored from the data available. 1 could not be scored (ROE Trend) and was left out, so the score is out of 55 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.
Earnings & returns
EPS Trend
5/5Diluted EPS: $3.24 (2023), $4.55 (2024), $6.38 (2025), $8.68 (2026). It rose every year; the framework scores that as 5.
ROE Trend
Not scoredShareholder equity is negative in 2023, 2024, 2025, 2026, so ROE has no meaningful value and is not scored.
ROIC
5/5ROIC of 21.4%: operating income of $8.15B divided by $38.02B of capital (total assets $101.29B minus current liabilities $63.27B), fiscal year to Jan 30, 2026, as filed in the 10-K (SEC EDGAR). The framework scores above 20% as 5.
Profit Margins
3/5Net margin of 7.5%; the framework scores 5-10% as 3; gross margin 19.9%, operating margin 12.0%.
Balance sheet & cash
Debt-to-Equity
1/5Shareholder equity is negative, so debt-to-equity has no meaningful value (total debt $35.28B, total cash $11.57B). The framework scores negative equity as 1. Calculated from the balance sheet in yfinance (at Jul 31, 2026) because yfinance's summary figure was not available.
Free Cash Flow
4/5Free cash flow (operating cash flow minus capital expenditure): $562.00M (2023), $5.92B (2024), $1.87B (2025), $8.55B (2026). It rose every year but one and ended above 2023; the framework scores that as 4.
Retained Earnings
5/5Retained earnings, as filed in the 10-Ks (SEC EDGAR): -$6.73B (2023), -$4.45B (2024), -$1.16B (2025), $3.33B (2026). It rose every year; the framework scores that as 5.
Valuation models
Graham IV
5/5IV = EPS x (8.5 + 2g) x (4.4 / Y) = $17.20 x (8.5 + 2 x 20.0) x (4.4 / 4.5) = $815.66 (EPS CAGR 38.2% capped at 20%). Current price $451.71; price is 44.6% below the model value.
DCF Value
3/5FCF/share = $19.127, stage 1 growth = 13.3% for 5 years, terminal growth = 3%, discount rate = 10%. Stage 1 PV = $104.60, PV of terminal value = $326.27, DCF value = $430.87. Current price $451.71; price is 4.8% above the model value.
Margin of Safety
3/5Graham value $815.66 (price is 44.6% below the model value); DCF value $430.87 (price is 4.8% above the model value).
Price-to-Book
1/5Book value is negative; the framework scores negative book value as 1.
Business quality
Moat Evidence
Not scoredA moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.
Return on capital, each year
Above 15% in 4 of 10 years (2017-2026); lowest -3.1%, highest 21.4%.
Gross margin, each year
Between 20.0% and 27.6% over 10 years (a range of 7.6 points).
Competition, in the company’s own words · 10-K filed Mar 16, 2026
We operate in an industry in which there are rapid technological advances in hardware, software, and services offerings, including AI, cloud, and security-related offerings. We face ongoing product and price competition in all areas of our business from both branded and generic competitors, including companies that specialize in one or more of our product or service lines. Our competitive advantages — including our end-to-end solutions portfolio, go-to-market capabilities, supply chain, and global services — enable us to compete by providing customers competitive, scalable, and integrated solutions that provide the most current and desired product and services features at a competitive price. We closely monitor market pricing, including the effect of foreign exchange rate movements, in an effort to provide the best value for our customers. We also closely monitor changing demand to keep pace with the demands of current and prospective customers. We believe that our strong relationships with our customers, channel partners, and suppliers allow us to respond quickly to changing customer needs and other macroeconomic factors. We also face competition from non-traditional IT companies, including large Infrastructure-as-a-Service providers, that often buy their infrastructure directly from original design manufacturers. Competitive pressures could increase if customers choose to move existing workloads to these providers.
The opening of the company’s “Competition” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.
Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.
Capital Allocation
4/5Capital allocation, 2023-2026: dividends or buybacks paid in every year (pass); $20.07B paid out against $16.90B of free cash flow (fail: paid out more than free cash flow); total debt $29.59B to $31.50B, up 6.5%, 2.7x EBITDA (pass: not up more than 10%); shares outstanding 0.72B to 0.65B, down 9.0% (pass). 3 of 4 tests passed; the framework scores that as 4.
Filings
Company notices to the SEC
Not scoredThree kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.
Loading...
These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.
How the Graham and DCF values were calculated
Graham Formula:
IV = EPS x (8.5 + 2g) x (4.4 / Y)
EPS = $17.20, g = 20.0%, Y = 4.5
g capped at 20.0% (3-year EPS CAGR was 38.2%)
IV = $815.66
Current price $451.71 vs Graham value $815.66 — price is 44.6% below the model value.
DCF:
FCF/share = $19.127
Stage 1 growth = 13.3% for 5 years | terminal growth = 3.0% | discount rate = 10.0%
Y1: $21.671 → PV $19.701
Y2: $24.553 → PV $20.292
Y3: $27.819 → PV $20.901
Y4: $31.519 → PV $21.528
Y5: $35.711 → PV $22.174
Stage 1 PV sum = $104.60
Terminal value at end of Y5 = $525.46
PV of terminal value = $326.27
DCF value = $430.87
Current price $451.71 vs DCF value $430.87 — price is 4.8% above the model value.Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $451.71. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.
Recent headlines · third-party publishers · not investment advice
In the news
- Loading headlines...
The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.