<span item_type="fundamental" item_id="8fb7bdd58983c263138432fd4f14e7f3" counter_id="ST/US/DELL" env="prod"></span><span item_type="announcement" item_id="620486529673005313" env="prod"></span><p>Revenue: As of FY2026 Q4, the actual value is USD 33.38 B, beating the estimate of USD 31.63 B.</p><p>EPS: As of FY2026 Q4, the actual value is USD 3.37, beating the estimate of USD 2.94.</p><p></p><h4>Overall Financial Performance (Fiscal Year 2026)</h4><p>Dell Technologies Inc. reported record full-year operating income of $8,149 million, an increase of 31% year over year. Net income for the full year was $5,936 million, a 30% increase year over year. Cash flow from operations reached a record $11.2 billion, with adjusted free cash flow at $11,508 million, marking a 272% increase year over year. Non-GAAP operating income was $9,991 million, up 17% year over year, and non-GAAP net income was $7,046 million, a 20% increase year over year. Gross margin for the full year was $22,707 million, up 7% year over year, representing 20.0% of net revenue. Total operating expenses were $14,558 million, a decrease of 3% year over year, representing 12.8% of net revenue. Interest and other, net was - $886 million, a 25% increase (less negative) year over year. Income before income taxes was $7,263 million, up 44% year over year, with income tax expense at $1,327 million, an increase of 181% year over year. Net income attributable to Dell Technologies Inc. was $5,936 million, up 29% year over year. The company closed over $64 billion in AI-optimized server orders and shipped over $25 billion throughout the year, entering FY27 with a record backlog of $43 billion. Dell Technologies Inc. returned a record $7.5 billion to shareholders during the year and repurchased approximately 54 million shares.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Overall Financial Performance (Fourth Quarter Fiscal Year 2026)</h4><p>Operating income was $3,092 million, up 43% year over year. Net income for the quarter was $2,259 million, a 47% increase year over year. Cash flow from operations was a record $4.7 billion, and adjusted free cash flow was $5,088 million, up 973% year over year. Non-GAAP operating income was $3,538 million, up 32% year over year, and non-GAAP net income was $2,607 million, up 36% year over year. Gross margin was $6,730 million, up 19% year over year, representing 20.2% of net revenue. Total operating expenses were $3,638 million, up 3% year over year, representing 10.9% of net revenue. Interest and other, net was - $293 million, a 57% increase (less negative) year over year. Income before income taxes was $2,799 million, up 42% year over year, with income tax expense at $540 million, an increase of 23% year over year. Net income attributable to Dell Technologies Inc. was $2,259 million, up 47% year over year. The company returned $2.2 billion to shareholders in the fourth quarter through share repurchases and dividends.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Infrastructure Solutions Group (ISG) (Fiscal Year 2026)</h4><p>ISG’s record full-year operating income was $7.1 billion, up 27% year over year, representing 11.7% of ISG net revenue. This segment’s AI-optimized servers revenue was $24,683 million, up 166% year over year, traditional servers and networking revenue was $19,512 million, up 9% year over year, and storage revenue was $16,631 million, up 1% year over year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Infrastructure Solutions Group (ISG) (Fourth Quarter Fiscal Year 2026)</h4><p>ISG’s record quarterly operating income was $2.9 billion, up 41% year over year, representing 14.8% of ISG net revenue. Record quarterly AI-optimized servers revenue was $9.0 billion, a 342% increase year over year. Record quarterly traditional servers and networking revenue was $5.9 billion, up 27% year over year. Fourth-quarter storage revenue was $4.8 billion, up 2% year over year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Client Solutions Group (CSG) (Fiscal Year 2026)</h4><p>Full-year operating income for CSG was $2.8 billion, down 5% year over year, representing 5.6% of CSG net revenue. Commercial Client revenue was $44,062 million, up 8% year over year, while Consumer revenue was $6,922 million, down 8% year over year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Client Solutions Group (CSG) (Fourth Quarter Fiscal Year 2026)</h4><p>Fourth-quarter operating income for CSG was $629 million, flat year over year, representing 4.7% of CSG net revenue. Commercial Client revenue was $11.6 billion, up 16% year over year, and Consumer revenue was $1.9 billion, flat year over year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Cash Flow from Operating Activities</h4><p>Cash flow from operating activities was $4,674 million for the three months ended January 30, 2026, compared to $585 million for the three months ended January 31, 2025, a 699% increase. For the fiscal year ended January 30, 2026, cash flow from operating activities was $11,185 million, compared to $4,521 million for the fiscal year ended January 31, 2025, a 147% increase.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Cash Flow from Investing Activities</h4><p>For the three months ended January 30, 2026, cash flow from investing activities was - $695 million, including purchases of investments of - $26 million, capital expenditures and capitalized software development costs of - $721 million, and acquisition of businesses and assets, net of - $84 million. For the fiscal year ended January 30, 2026, cash flow from investing activities was - $2,055 million, including purchases of investments of - $197 million, capital expenditures and capitalized software development costs of - $2,633 million, and divestitures of businesses and assets, net of $533 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Cash Flow from Financing Activities</h4><p>For the three months ended January 30, 2026, cash flow from financing activities was - $2,093 million, including repurchases of common stock of - $1,847 million, payments of dividends and dividend equivalents of - $346 million, and proceeds from debt of $1,232 million. For the fiscal year ended January 30, 2026, cash flow from financing activities was - $1,464 million, including repurchases of common stock of - $6,014 million, payments of dividends and dividend equivalents of - $1,459 million, and proceeds from debt of $15,004 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p><h4>Outlook / Guidance</h4><p>Dell Technologies Inc. expects full-year FY27 revenue to be between $138.0 billion and $142.0 billion, representing a 23% year-over-year increase at the midpoint of $140.0 billion. Full-year AI-optimized servers revenue is anticipated to be approximately $50 billion, up 103% year over year. For the first quarter of FY27, revenue is expected to be between $34.7 billion and $35.7 billion, indicating a 51% year-over-year increase at the midpoint of $35.2 billion.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1571996/000157199626000003/exhibit991earnings8kq4fy26.htm"></span></p>

Dell Tech | 8-K: FY2026 Q4 Revenue Beats Estimate at USD 33.38 B