--- title: "Dell Tech | 8-K: FY2026 Q4 Revenue Beats Estimate at USD 33.38 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/277096747.md" datetime: "2026-02-26T21:13:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277096747.md) - [en](https://longbridge.com/en/news/277096747.md) - [zh-HK](https://longbridge.com/zh-HK/news/277096747.md) --- # Dell Tech | 8-K: FY2026 Q4 Revenue Beats Estimate at USD 33.38 B Revenue: As of FY2026 Q4, the actual value is USD 33.38 B, beating the estimate of USD 31.63 B. EPS: As of FY2026 Q4, the actual value is USD 3.37, beating the estimate of USD 2.94. #### Overall Financial Performance (Fiscal Year 2026) 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. #### Overall Financial Performance (Fourth Quarter Fiscal Year 2026) 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. #### Infrastructure Solutions Group (ISG) (Fiscal Year 2026) 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. #### Infrastructure Solutions Group (ISG) (Fourth Quarter Fiscal Year 2026) 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. #### Client Solutions Group (CSG) (Fiscal Year 2026) 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. #### Client Solutions Group (CSG) (Fourth Quarter Fiscal Year 2026) 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. #### Cash Flow from Operating Activities 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. #### Cash Flow from Investing Activities 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. #### Cash Flow from Financing Activities 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. #### Outlook / Guidance 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. ### Related Stocks - [DELL.US](https://longbridge.com/en/quote/DELL.US.md) ## Related News & Research - [Dell Technologies (NYSE:DELL) Releases Q2 2027 Earnings Guidance](https://longbridge.com/en/news/287979306.md) - [Dell Shares Hit New 52-Week High As AI Push And Analyst Upgrades Fuel Rally](https://longbridge.com/en/news/287663946.md) - [ATS Reports Fourth Quarter Fiscal 2026 Results | ATS Stock News](https://longbridge.com/en/news/287895609.md) - [District Announces Q3 2026 Results | DMXCF Stock News](https://longbridge.com/en/news/288010458.md) - [VERSABANK TO HOST SECOND QUARTER FISCAL 2026 FINANCIAL RESULTS CONFERENCE CALL/WEBCAST WEDNESDAY, JUNE 3 2026 at 9:00 A.M. ET | VBNK Stock News](https://longbridge.com/en/news/287623353.md)