DELL Dell Technologies margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 50

Gross margin

19.8%

Operating margin

9.4%

EBITDA margin

11.4%

Net margin

7.5%

The Dell Technologies shows a gross margin of 19.8%, an operating margin of 9.4%, an EBITDA margin of 11.4%, and a net margin of 7.5%. Operating margin improved the most, by 2.7 percentage points, while gross margin declined the most, by 1.3 percentage points.

DELL margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Dell Technologies's margins averaged 21.73% gross, 6.73% operating, 9.85% EBITDA, and 4.88% net. Currently, operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

DELL margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 2.7 percentage points, EBITDA margin by 1.7 percentage points, and net margin by 2.7 percentage points, but gross margin contracted by 1.3 percentage points.

Gross margin expansion

-1.3pp

Operating margin expansion

2.7pp

EBITDA margin expansion

1.7pp

Net margin expansion

2.7pp

DELL Gross margin

Dell Technologies recorded an average gross margin of 21.73% across the last 3 years. Dell Technologies currently reports a gross margin of 19.8%, 1.9 percentage points below its three-year average. Looking back over the last 3 years, Dell Technologies's gross margin reached 23.8% at its highest point in Feb 2024 and 19.1% at its lowest in May 2026.

DELL Operating margin

The average operating margin for Dell Technologies was 6.73% during the last 3 years. At present, the current operating margin for Dell Technologies is 9.4%, 2.7 percentage points above its three-year average. The operating margin for Dell Technologies moved between 5.4% in Nov 2023 and 9.4% in Jul 2026.

DELL EBITDA margin

Dell Technologies's EBITDA margin averaged 9.85% over the last 3 years. Compared with its three-year average, Dell Technologies's current EBITDA margin is 11.4% and is 1.6 percentage points above its three-year average. Over the last 3 years, Dell Technologies's EBITDA margin peaked at 11.4% in Jul 2026 and reached a low of 9% in Nov 2023.

DELL Net margin

Across the last 3 years, Dell Technologies's net margin came to 4.88%. The current net margin stands at 7.5%, 2.6 percentage points above its three-year average. Net margin was highest at 7.5% in Jul 2026 and lowest at 2.9% in Nov 2023.

DELL margin group comparison

Margins compared with peer-group, industry and sector averages

Dell Technologies's gross margin of 19.8% is below the Technology sector and the industry average. Compared to its Technology sector average of 52.1%, Dell Technologies's gross margin is 62% lower.

DELL margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Dell Technologies's gross margin?

As of Jul 31, 2026, DELL has a gross margin of 19.8%.

What is Dell Technologies's operating margin?

As of Jul 31, 2026, DELL has an operating margin of 9.4%.

What is Dell Technologies's EBITDA margin?

As of Jul 31, 2026, DELL has an EBITDA margin of 11.4%.

What is Dell Technologies's net margin?

The current net margin for DELL is 7.5% as of Jul 31, 2026.

What are the average margins of DELL?

The three-year average margins for DELL were 21.7% gross, 6.7% operating, 9.9% EBITDA, and 4.9% net.

What are the highest historical margins of DELL?

Looking back across 5 years, DELL reached 23.8% gross in Feb 2024, 9.4% operating in Jul 2026, 11.5% EBITDA in Oct 2021, and 7.5% net in Jul 2026.

What are the lowest historical margins of DELL?

Across the 5-year period, DELL posted its lowest margins at 16.5% gross in Oct 2021, 4.1% operating in Oct 2021, 8.6% EBITDA in Jul 2022, and 1.7% net in Oct 2022.