Q4 2026 Dell Technologies Inc Earnings Call Transcript

Feb 26, 2026 / 09:30PM GMT

Release Date Price: $121.45 (-1.64%)

Transcript 8-K

Key Points

Positve

Dell Technologies Inc (DELL) delivered record full-year revenue of $113.5 billion, up 19%, and EPS growth of 27% to $10.30.
The company achieved a record annual cash flow of over $11 billion and returned $7.5 billion to shareholders, including repurchasing 54 million shares.
Dell Technologies Inc (DELL) reported a record quarter with Q4 revenue of $33.4 billion, up 39%, and EPS of $3.89, up 45%, driven by strong demand for AI solutions.
AI orders reached $64.1 billion for the full year, with a record $43 billion in AI backlog, indicating strong demand and growth potential.
The company gained market share in its PC business and reported strong margins in traditional servers and storage, positioning itself well for the AI era.

Negative

The supply environment remains highly dynamic with sustained supply tightness and frequent pricing resets due to unprecedented AI demand.
Higher-than-normal industry channel inventory levels delayed price increases, impacting profitability in the CSG segment.
The company faces challenges with rising memory prices, which could impact profitability in both CSG and traditional servers.
Dell Technologies Inc (DELL) anticipates potential demand fluctuations in the second half of FY27 due to component supply constraints.
The company is operating in a highly competitive market, which requires strategic share capture and pricing adjustments to maintain profitability.

Operator

Good afternoon and welcome to the fiscal year 2026, fourth-quarter financial results conference call for Dell Technologies Inc. I'd like to inform all participants this call is recorded at the request of Dell Technologies. This broadcast is the copyrighted property of Dell Technologies Inc. Any rebroadcast of this information in whole or part without the prior written permission of Dell Technologies is prohibited. (Operator Instruction)

I'd like to turn the call over to Paul Frantz, Head of Investor Relations. Mr. Frantz, you may begin.

Paul Frantz

Dell Technologies Inc - Head of Investor Relations

Thanks, everyone, for joining us. With me today are Jeff Clarke, David Kennedy and Tyler Johnson. Our earnings materials are available on our IR website, and I encourage you to review these materials. Also, please take some time to view the presentation, which includes additional content to complement our discussion this afternoon. Guidance will be covered on today's call.

During this call, Unless otherwise indicated, all references to financial

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

30-Day 100% money back guarantee

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.