Dell Technologies Inc.
NYSE: DELL·Round Rock, Texas·CIK 0001571996
- Price
- $538.38
- Base IV
- $146.01
- Your value
- $146.01
- -72.9%
Valuation snapshot
Price is above even the bull case. Price as of Oct 1, 2026 · Valuation Aug 8, 2026.
Track record
Reported financials are not available yet.
Why the gap?
At $538.38 the market is pricing Dell Technologies Inc. as if revenue grows 46.0% a year. This valuation assumes it grows 11.8% a year. That single disagreement accounts for most of the distance between the two numbers — which makes it the first thing worth auditing.
Implied by price
+46.0%
revenue growth a year, holding everything else researched
Assumed here
+11.8%
researched base case, grounded in filings and guidance
Or, growth held
25.4%
operating margin reproduces the price, vs 7.5% assumed
Many combinations of assumptions reproduce the same price. These are ways to read what the market might expect, not its actual view.
Your valuation
Four judgments stand between the filing and a number. Audit them one at a time and leave with a valuation that is yours.
- 01 Revenue growth25.0%
- 02 Operating margin7.5%
- 03 Risk and beta1.40
- 04 Long-run growth2.7%
About 4 minutes · no account needed
What drives the base case
All three cases →Dell's most recent quarter nearly doubled year-ago revenue, and management responded by raising its full-year sales outlook by $27 billion, citing a record order backlog and saying its limit is parts supply rather than customer demand. This case simply follows that guidance for the first year and then lets growth cool: the backlog gets delivered, new orders keep coming but at a less explosive pace, and by year five Dell is growing at the mid-single-digit rate its computer and storage businesses have historically managed. Profitability is assumed to hold near where the last four quarters actually landed — better than the company averaged in fiscal 2026 — because gains in infrastructure and PC profitability roughly offset the fact that AI servers earn thinner margins than the rest of the mix. Dell's low fixed-investment needs, because it assembles rather than manufactures chips, mean most of that profit converts to cash.
What shapes the assumptions
No structured value drivers are attached to this valuation yet.
How confident is this estimate?
Quality checksSome of any gap to the price is model uncertainty rather than real disagreement. Start with the weakest components.
- Scenario dispersion1.6
- Terminal-value dependency1.9
- Historical stability7.5
- Margin predictability9.2
Why the number moved
No prior valuation bridge is available yet. Future recalculations will explain what moved.
Base estimate
$146.01 -72.9%