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Data-driven stock valuation

Dell Technologies Inc (DELL) fair value: what the stock is really worth

We calculate from audited financials what Dell Technologies Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Technology · US · Market cap $281B · ISIN US24703L2025

At a glance

DT Dell Technologies Inc logo Dell Technologies Inc DELL · US
Price$524.14
Fair Value$187.75
Upside−64.2%
Quality67/100

A solid business, but trading 179% above our fair value of $187.75.

As of Sep 1, 2026, the fair value of Dell Technologies Inc is $187.75 per share against a price of $524.14, so the fair value sits 64% below the price. A model estimate from reported figures, not an analyst target.

✓Healthy Growth (revenue 5y +5.5 %/yr)
!Thin margins · 6.3% net margin
✓Negative equity (buybacks among others) · generates free cash flow
·0.42% dividend yield
!Mixed vs. peers (8/14)
!Moderate moat 54/100
!Weak on dividend: 8 out of 100
Evidence: High Range $120.88 to $263.51

Fair value as of: Sep 1, 2026

From 22 valuation models · updated 6 days ago

Share price +13.3% over the past month.

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($263.51). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($120.88 to $263.51) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$524.14 $31.18 Fair Value $187.75 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.

How to read this chart

60‑month range $31.18 – $524.14 · fair‑value band $120.88 – $263.51 · the $524.14 price screens above the $187.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.

Full chart & analysis →

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Analysis

Dell Technologies Inc (DELL) currently trades at $524.14, while our model-based Fair Value estimate is $187.75, implying the stock looks roughly 179.2% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Technology sector. Bull case: the Multiples group reads highest at a median of $511.34 per share, and 3 of the 22 models we run sit above the $524.14 price. Bear case: the Dividend Discount group reads lowest at $66.09, and 19 of the 22 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Dell Technologies Inc generated revenue of $134B at a net margin of 6.3%. Revenue grew 87.5% year over year. It earns a return on equity of 44.3%. Net debt stands at $20.0B. Fundamentals as of Sep 1, 2026

Scenario range: $120.88 (bear) to $263.51 (bull), the price of $524.14 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades near its 52-week high and 387% above its 52-week low. For context, the median of 10 Technology peers we cover trades at −40% fair-value upside, at −64%, DELL screens richer than that median.

Fair Value models

Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then ($6.22 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $261.08 $407.78 $629.78 79
Growth DCF $270.58 $407.16 $604.82 78
Owner Earnings $183.74 $292.35 $456.72 75
All 22 models by family
DCF Models
FCF DCF $261.08 $407.78 $629.78 79
Owner Earnings $183.74 $292.35 $456.72 75
5Y Revenue Exit $211.77 $336.12 $489.06 72
5Y EBITDA Exit $339.78 $565.40 $819.39 74
5Y P/E Exit $286.41 $469.80 $653.67 70
10Y Revenue Exit $219.64 $336.29 $480.86 66
10Y EBITDA Exit $308.86 $495.43 $728.74 68
10Y P/E Exit $274.65 $429.08 $604.38 64
Earnings-Based
Graham-Dodd $124.18 $303.91 $393.25 65
PEG = 1.0 $54.46 $77.80 $101.13 57
EPV $182.14 $220.79 $255.15 74
Dividend Discount
Gordon GGM $43.18 $81.53 $136.83 66
DDM Multi-Stage $43.18 $66.09 $92.27 66
Multiples
P/E Multiple $383.50 $511.34 $639.17 63
P/S Multiple $232.84 $310.45 $388.07 58
EV/EBIT $430.84 $586.74 $742.65 66
EV/EBITDA $439.71 $598.58 $757.44 67
EV/Revenue $199.58 $300.92 $402.26 53
Growth DCF
Growth DCF $270.58 $407.16 $604.82 78
Rev-Margin DCF $211.77 $339.25 $477.73 72
Economic Profit
ROIC Compounder $187.18 $232.77 $277.59 72
Growth Earnings
Growth-Adj P/E $288.24 $411.77 $535.30 67

Widest divergence: Multiples ($511.34) versus Dividend Discount ($66.09). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 46.7 as of Jun 5, 2026
P/S ratio 2.44 P/E × margin
EPS (TTM) $8.67 price ÷ EPS = P/E 46.7
Dividend yield 0.4% payout 25.4%
Net margin 5.2% FY2026
Return on equity 44.3% TTM
More key figures
Profitability
Return on assets (EBIT) 6.8% avg 5y
Operating margin 8.3% TTM
Growth
Revenue (TTM) $134B TTM
Revenue growth (YoY) +87.5% 3y avg +3.5%
EPS growth (YoY) +283%
Balance sheet & cash flow
Free cash flow $8.6B FY2026
Net debt $20.0B FY2026 · ≈ 2.3 yrs of FCF

Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 65 · Market factors (momentum, volatility) 74

Profitability 51
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 97
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG) segments.

Full company description

Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG) segments. The ISG segment provides modern and traditional storage solutions, including all-flash, purpose-built, hyper-converged infrastructure, software-defined storage, and general-purpose and AI-optimized servers. This segment also offers networking products and services comprising wide area network infrastructure, data center and edge networking switches, and cables and optics that help its business customers to transform and modernize their infrastructure and complementing its server and storage solutions; and software, peripherals, and services, including consulting and support, and deployment. The CSG segment provides notebooks, desktops, and workstations and branded peripherals that include displays, docking stations, keyboards, mice, webcam and audio devices, and third-party software and peripherals; and configuration, and extended warranties services. The company is involved in originating, collecting, and servicing customer financing arrangements and offers payment and consumption solutions and services, such utility, subscription, as-a-service, leases, and loans, as well as fixed-term leases and loans. It serves enterprises, governmental agencies and other public institutions, educational institutions, healthcare organizations, small and medium-sized businesses, and consumers. The company was formerly known as Denali Holding Inc. and changed its name to Dell Technologies Inc. in March 2013. Dell Technologies Inc. was founded in 1984 and is headquartered in Round Rock, Texas.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Dell Technologies Inc reported revenue of $114B in FY2026 versus $101B in FY2022, a compound +2.9%/yr. Reported net income was $5.9B in FY2026, compounding +1.6%/yr from FY2022.

Growth Quality 70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
$114B
Latest YoY
+18.8%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.5%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.5%
Avg. revenue growth/yr (26Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.9%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +7.5%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+7.1%
Dividend yield0.4%
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4.3% (2021) → 7.4% (2026) · rising
Worst earnings drop226% (2015) (loss year, drop beyond 100%) · in USD
⚠ Final year 2026 sits 89% above trend (one-off), rate approximate
Revenue +2.9%/yr
FY22 $101B
FY23 $102B
FY24 $88.4B
FY25 $95.6B
FY26 $114B
Net income +1.6%/yr
FY22 $5.6B
FY23 $2.4B
FY24 $3.4B
FY25 $4.6B
FY26 $5.9B

DELL screens 179% overvalued. Compare with Arista Networks, Inc →

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Dell Technologies Inc · Fair Value
$187.75 −179%Fair Value
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Cite: Fair Value Calculator (2026). "Dell Technologies Inc Fair Value". https://www.fairvalue-calculator.com/stock/DELL

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Computer Hardware · 222 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation
Quality Score 67 · Top 25%
Fair Value upside −64% · Bottom 25%
Profitability
Return on equity (TTM) 44% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 9% · Above median
Growth and dividend
Revenue growth 88% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 46.7× · Pricier than median
P/S (TTM) 2.10× · Pricier than median
P/FCF 32.9× · Priciest 25%
EV/EBITDA 20.8× · Pricier than median
PEG 0.71× · Cheapest 25%

What the price implies (reverse DCF)

The inverse question: what free-cash-flow growth must Dell Technologies Inc deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.

Implied FCF growth, 10 years+16.6 % per year
Achieved revenue growth, 5 years+5.5 % p.a.
Sector median revenue growth+8.2 %
FCF yield on price2.39 %
Discount rate (WACC) in the models8.9 %

The price demands an acceleration versus past growth: a high bar the company still has to clear. Ranking of the largest stocks →

Context: sector, industry, market

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 6
FUTURE100 · sector 59
PAST100 · sector 24
HEALTH100 · sector 97
DIVIDEND8 · sector 37

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).

Stock Price Fair Value vs Fair Value
Arista Networks, Inc ANET $193.78 $57.72 −70%
Western Digital Corporation WDC $441.57 $47.49 −89%
Hygon Information Technology Co 688041 ¥246.21 ¥30.66 −88%
Hangzhou Hikvision Digital Technology Co 002415 ¥35.18 ¥40.44 +15%
Shenzhen Longsys Electronics Co 301308 ¥376.88 ¥91.67 −76%
Lenovo Group 0992 HK$30.12 HK$33.70 +12%
Dawning Information Industry Co 603019 ¥83.19 ¥39.38 −53%
HP Inc HPQ $30.52 $48.62 +59%
Inspur Electronic Information Industry Co 000977 ¥73.79 ¥44.02 −40%
Super Micro Computer, Inc SMCI $39.59 $37.09 −6%

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Frequently asked questions

Is Dell Technologies Inc (DELL) overvalued or undervalued?
As of Sep 1, 2026, our model estimates a fair value of $187.75 versus a price of $524.14, about −64% upside (overvalued).
What is the fair value of DELL?
Our model-based fair value for Dell Technologies Inc is $187.75 (as of Sep 1, 2026), built from audited fundamentals. The current price: $524.14.
What is the quality score of DELL?
Dell Technologies Inc has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dell Technologies Inc (DELL)?
Our model-based price target is the fair value of $187.75 (as of Sep 1, 2026) from 22 valuation models. Cautious scenario $120.88, optimistic scenario $263.51. It is a calculation from audited fundamentals, not an analyst target.
What is the Dell Technologies Inc stock forecast for 2026?
Our models put fair value at $187.75, about −64% upside versus a price of $524.14 (overvalued). Cautious scenario $120.88, optimistic scenario $263.51. The calculation is refreshed regularly with new filings.
What is the revenue of Dell Technologies Inc (DELL)?
Dell Technologies Inc reported trailing-twelve-month revenue of about $134B (latest available figure, as of Sep 1, 2026).
What is the net profit margin of DELL?
The net profit margin of Dell Technologies Inc is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Dell Technologies Inc pay a dividend?
Dell Technologies Inc currently shows a dividend yield of about 0.42% relative to its recent price (as of Sep 1, 2026).
What growth is priced into Dell Technologies Inc (DELL)?
For today's price to be fair in a discounted-cash-flow model, Dell Technologies Inc would have to grow free cash flow by +16.6 % per year for ten years (discount rate 8.9 %, then 2 % perpetual growth). Over the last 5 years revenue grew +5.5 % per year. As of Sep 1, 2026.
What discount rate (WACC) does the fair value of DELL use?
Our models discount Dell Technologies Inc at 8.9 %: a base by market capitalisation (mega), damped by beta 1.06, country premium for USA. The same rate applies in all 26 models.
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