Company Valuation: Dell Technologies Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Capitalization 1 42,961 28,652 59,897 73,503 75,838 157,189 - -
Change - -33.31% 109.05% 22.72% 3.18% 107.27% - -
Enterprise Value (EV) 1 60,438 49,633 78,525 94,437 95,813 175,483 173,182 171,423
Change - -17.88% 58.21% 20.26% 1.46% 83.15% -1.31% -1.02%
P/E ratio 8x 12.3x 19.4x 16.5x 13.2x 21.7x 19.3x 15.7x
PBR -25.4x -9.66x -25.2x -50.1x -31.8x -80.8x 43.2x 61.3x
PEG - -0.2x 0.6x 0.4x 0.4x 0.8x 1.6x 0.7x
Capitalization / Revenue 0.42x 0.28x 0.68x 0.77x 0.67x 1.11x 1.03x 0.97x
EV / Revenue 0.6x 0.49x 0.89x 0.99x 0.84x 1.24x 1.13x 1.06x
EV / EBITDA 6.26x 4.6x 7.74x 8.6x 7.65x 11.9x 10.8x 10.1x
EV / EBIT 7.76x 5.75x 10.2x 11.1x 9.59x 15x 13.5x 12.1x
EV / FCF 8.05x 88.3x 13.3x 48.2x 11.2x 18.8x 17.5x 15.2x
FCF Yield 12.4% 1.13% 7.54% 2.07% 8.93% 5.32% 5.71% 6.57%
Dividend per Share 2 - 1.32 1.48 1.78 1.78 2.46 2.771 3.043
Rate of return - 3.3% 1.75% 1.69% 1.56% 1.02% 1.15% 1.26%
EPS 2 7.03 3.24 4.36 6.38 8.68 11.15 12.53 15.43
Distribution rate - 40.7% 33.9% 27.9% 20.5% 22.1% 22.1% 19.7%
Net sales 1 101,229 102,301 88,425 95,567 113,538 141,946 153,008 161,562
EBITDA 1 9,660 10,779 10,148 10,985 12,523 14,788 16,092 16,942
EBIT 1 7,785 8,637 7,678 8,529 9,991 11,715 12,865 14,201
Net income 1 5,563 2,442 3,211 4,592 5,936 7,330 7,905 9,661
Net Debt 1 17,477 20,981 18,628 20,934 19,975 18,294 15,993 14,234
Reference price 2 56.24 40.01 84.80 105.35 114.44 241.99 241.99 241.99
Nbr of stocks (in thousands) 763,885 716,128 706,335 697,705 662,690 649,568 - -
Announcement Date 24/02/22 02/03/23 29/02/24 27/02/25 26/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.7x1.24x11.88x1.02% 157B
60.74x14.97x40.97x0.37% 178B
32.42x1.46x8.78x1.71% 43.92B
26.43x4.11x15.41x1.32% 30.4B
49.03x - - 0.64% 20.31B
12.21x0.22x4.21x3.28% 19.68B
71.57x - - 0.13% 19.51B
8.49x0.44x5.55x5.77% 19.03B
17.11x0.3x9.04x0.84% 18.51B
23.57x0.62x19x0.99% 17.79B
Average 32.33x 2.92x 14.35x 1.61% 52.49B
Weighted average by Cap. 38.11x 6.36x 22.11x 1.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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