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Integration·DELL

Dell Technologies Inc.

NYSE · US

Enterprise server, storage, and infrastructure systems vendor with a large AI server and rack-scale solutions business.

AI relevance

Integrates GPU servers, storage, networking, and rack systems for enterprise and cloud AI deployments.

Integration Server / Rack

Price

$452.97

Change

-32.91 (-6.77%)

Market cap

$288.0B

52w range

$110–$596

Exchange

NYSE

Country

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Price chart

DELL market performance

Daily close for Dell Technologies Inc.

Latest close: $453.0
Range move: +$302.8 (+201.7%)
Range high: $588.4
Range low: $111.1
Latest volume: 6.5M
Source: FMP EOD

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Exports

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CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1254 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

82 rows

Available earnings-call transcript dates by fiscal year and quarter.

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StreetBuy

Analyst expectations

Consensus target

$564.65

+24.7%

Target range

$289.00 - $735.00

Rating mix

Buy

45 ratings

Next FY revenue

$194.58B

2027-01-30

Next FY EPS

$25.91

$25.32 - $28.73

Rating consensus45 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2027-01-30	$194.58B	$190.92B - $218.87B	$25.91	$25.32 - $28.73	$26.73B	$23.22B	$18.48B	$24.94B	18 rev / 14 EPS
2028-01-30	$235.21B	$194.74B - $298.49B	$30.99	$24.82 - $37.38	$28.34B	$24.23B	$19.34B	$30.15B	20 rev / 8 EPS
2029-01-30	$263.60B	$202.13B - $287.89B	$35.39	$24.45 - $40.56	$32.22B	$27.46B	$22.09B	$33.79B	18 rev / 5 EPS
2030-01-30	$298.44B	$250.09B - $346.40B	$45.78	$36.14 - $55.35	$43.77B	$38.30B	$31.31B	$38.26B	17 rev / 3 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-10-31	$49.24B	$47.70B - $56.82B	$6.56	$6.41 - $7.30	$6.17B	$5.38B	$4.28B	$6.31B	14 rev / 16 EPS
2027-01-31	$53.53B	$50.04B - $68.13B	$7.43	$6.97 - $9.49	$6.87B	$6.05B	$4.85B	$6.86B	14 rev / 6 EPS
2027-04-30	$54.68B	$52.82B - $61.23B	$6.85	$6.55 - $7.92	$6.46B	$5.60B	$4.47B	$7.01B	11 rev / 4 EPS
2027-07-31	$56.70B	$54.77B - $63.49B	$7.44	$7.11 - $8.60	$6.95B	$6.06B	$4.85B	$7.27B	7 rev / 2 EPS
2027-10-31	$59.03B	$57.02B - $66.09B	$8.07	$7.72 - $9.33	$7.47B	$6.54B	$5.26B	$7.57B	10 rev / 2 EPS
2028-01-31	$62.70B	$60.57B - $70.21B	$8.85	$8.46 - $10.23	$8.11B	$7.14B	$5.77B	$8.04B	9 rev / 4 EPS
2028-04-30	$56.82B	$54.89B - $63.62B	$8.05	$7.69 - $9.30	$7.52B	$6.52B	$5.25B	$7.28B	6 rev / 3 EPS
2028-07-31	$58.92B	$56.91B - $65.97B	$8.61	$8.23 - $9.95	$7.98B	$6.95B	$5.61B	$7.55B	7 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	2	$612.00
Last quarter	26	$559.85
Last year	57	$429.44
All time	117	$264.07

Sources: StreetInsider, Benzinga, Pulse 2.0, Barrons

Latest grade actions

Date	Firm	Action	Previous	New
2026-10-14	Barclays	Downgrade	Overweight	Equal Weight
2026-10-06	Mizuho	Maintain	Outperform	Outperform
2026-09-29	TD Cowen	Maintain	Hold	Hold
2026-09-21	Morgan Stanley	Maintain	Equal Weight	Equal Weight
2026-09-09	Evercore ISI Group	Maintain	Outperform	Outperform
2026-09-02	Barclays	Maintain	Overweight	Overweight
2026-09-02	UBS	Maintain	Neutral	Neutral
2026-09-02	Bernstein	Maintain	Outperform	Outperform

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-10-01	6	14	10	0	1
2026-09-01	6	14	9	0	0
2026-08-01	5	14	9	0	0
2026-07-01	5	14	8	0	0
2026-06-01	6	14	8	1	0
2026-05-01	5	14	7	2	1
2026-04-01	5	14	7	1	1
2026-03-01	5	14	7	1	1

FinancialsFY 2026

Financials

Revenue

$113.54B

Gross margin

20.0%

Operating income

$8.45B

Free cash flow

$8.55B

Cash + ST investments

$11.53B

Net debt

$19.98B

ROE

-240.3%

ROIC

15.0%

EV / sales

0.8x

EV / EBITDA

8.1x

R&D / revenue

2.8%

Current ratio

0.9x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2026	$113.54B	$22.71B	20.0%	$3.14B	$8.45B	$11.85B	$5.94B	$8.96
FY 2025	$95.57B	$21.25B	22.2%	$3.06B	$6.24B	$9.59B	$4.59B	$6.51
FY 2024	$88.42B	$21.07B	23.8%	$2.80B	$5.41B	$8.89B	$3.39B	$4.71
FY 2023	$102.30B	$22.69B	22.2%	$2.78B	$5.77B	$7.66B	$2.44B	$3.33
FY 2022	$101.20B	$21.89B	21.6%	$2.58B	$4.66B	$12.02B	$5.56B	$7.30
FY 2021	$86.67B	$20.14B	23.2%	$2.46B	$3.69B	$9.79B	$3.25B	$4.37
FY 2020	$84.81B	$20.64B	24.3%	$2.45B	$2.37B	$8.49B	$4.62B	$6.38
FY 2019	$90.62B	$25.05B	27.6%	$4.60B	-$191.0M	$8.00B	-$2.31B	$-2.96
FY 2018	$79.04B	$20.54B	26.0%	$4.38B	-$2.42B	$6.38B	-$2.85B	$-3.70
FY 2017	$62.16B	$13.65B	22.0%	$2.64B	-$2.39B	$2.59B	-$1.17B	$-1.62
FY 2016	$50.91B	$8.39B	16.5%	$1.05B	-$514.0M	$2.29B	-$1.10B	$-1.54
FY 2015	$53.98B	$8.74B	16.2%	$920.0M	-$448.0M	$2.57B	-$1.22B	$-1.55

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2026	$11.19B	$2.63B	$8.55B
FY 2025	$4.52B	$2.65B	$1.87B
FY 2024	$8.68B	$2.76B	$5.92B
FY 2023	$3.56B	$3.00B	$562.0M
FY 2022	$10.31B	$2.80B	$7.51B
FY 2021	$11.41B	$2.08B	$9.32B
FY 2020	$9.29B	$2.59B	$6.70B
FY 2019	$6.99B	$1.57B	$5.49B
FY 2018	$6.84B	$1.74B	$5.26B
FY 2017	$2.37B	$906.0M	$1.46B
FY 2016	$2.16B	$482.0M	$1.68B
FY 2015	$2.55B	$478.0M	$2.07B

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2026	$11.53B	$26.04B	$10.44B	$6.68B	$101.29B	$31.50B	$19.98B	$103.76B	-$2.47B
FY 2025	$3.63B	$15.60B	$6.72B	$6.34B	$79.75B	$24.57B	$20.93B	$81.13B	-$1.48B
FY 2024	$7.37B	$13.99B	$3.62B	$6.43B	$82.13B	$25.99B	$18.63B	$84.26B	-$2.23B
FY 2023	$8.61B	$18.14B	$4.78B	$6.21B	$89.61B	$29.59B	$20.98B	$92.64B	-$3.12B
FY 2022	$9.48B	$18.13B	$5.90B	$5.42B	$92.73B	$26.95B	$17.48B	$94.31B	-$1.69B
FY 2021	$9.51B	$15.99B	$3.40B	$4.83B	$123.42B	$41.45B	$31.94B	$115.39B	$2.95B
FY 2020	$9.30B	$17.38B	$3.28B	$7.83B	$118.86B	$53.85B	$44.55B	$115.08B	-$945.0M
FY 2019	$9.68B	$16.77B	$3.65B	$5.26B	$111.82B	$53.52B	$43.84B	$111.57B	-$4.57B
FY 2018	$16.13B	$15.64B	$2.68B	$5.39B	$124.19B	$51.87B	$37.93B	$106.32B	$12.10B
FY 2017	$11.45B	$12.64B	$2.54B	$5.65B	$118.21B	$49.39B	$39.92B	$98.97B	$13.47B
FY 2016	$6.32B	$7.80B	$1.62B	$1.65B	$45.12B	$13.63B	$7.31B	$43.55B	$1.57B
FY 2015	$5.40B	$6.07B	$1.66B	$2.63B	$48.19B	$14.15B	$8.76B	$45.29B	$2.90B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2026	20.0%	7.4%	5.2%	0.9x	0.7x	-240.3%	15.0%	0.8x	8.1x	11.3%	2.8%	-9d
FY 2025	22.2%	6.5%	4.8%	0.8x	0.6x	-309.9%	14.7%	1.0x	9.7x	2.6%	3.2%	-10d
FY 2024	23.8%	6.1%	3.8%	0.7x	0.7x	-152.1%	11.0%	0.9x	9.2x	9.3%	3.2%	-27d
FY 2023	22.2%	5.6%	2.4%	0.8x	0.7x	-78.2%	9.7%	0.5x	6.8x	1.8%	2.7%	1d
FY 2022	21.6%	4.6%	5.5%	0.8x	0.7x	-330.1%	9.2%	0.6x	5.0x	17.5%	2.5%	-32d
FY 2021	23.2%	4.3%	3.7%	0.8x	0.7x	110.1%	4.6%	0.7x	6.1x	33.9%	2.8%	-32d
FY 2020	24.3%	2.8%	5.4%	0.7x	0.6x	-488.5%	-32.4%	0.7x	7.4x	37.5%	2.9%	-21d
FY 2019	27.6%	-0.2%	-2.5%	0.8x	0.7x	50.6%	-0.2%	0.7x	7.7x	31.0%	5.1%	-19d
FY 2018	26.0%	-3.1%	-3.6%	0.9x	0.8x	-23.5%	-1.7%	0.7x	8.2x	36.4%	5.5%	-25d
FY 2017	22.0%	-3.8%	-1.9%	0.8x	0.7x	-8.7%	-1.9%	0.8x	20.3x	11.5%	4.2%	-15d
FY 2016	16.5%	-1.0%	-2.2%	0.9x	0.9x	-70.2%	-2.0%	0.3x	7.0x	19.4%	2.1%	-41d
FY 2015	16.2%	-0.8%	-2.3%	0.8x	0.8x	-42.0%	-1.6%	0.3x	6.8x	23.9%	1.7%	-54d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2026	+18.8%	+6.9%	+2.6%	+35.4%	+29.3%	+37.6%	+357.6%	+0.7%	+217.3%	+55.4%	+27.0%	+28.2%
FY 2025	+8.1%	+0.9%	+9.3%	+15.3%	+35.5%	+38.2%	-68.4%	+3.8%	-50.7%	+85.4%	-2.9%	-5.5%
FY 2024	-13.6%	-7.1%	+0.8%	-6.2%	+38.7%	+41.4%	+953.4%	+8.2%	-14.4%	-24.2%	-8.4%	-12.1%
FY 2023	+1.1%	+3.6%	+7.8%	+23.9%	-56.1%	-54.4%	-92.5%	-7.4%	-9.2%	-19.0%	-3.4%	+9.8%
FY 2022	+16.8%	+8.7%	+5.0%	+26.4%	+71.2%	+67.0%	-19.5%	-34.3%	-0.3%	+73.3%	-24.9%	-35.0%
FY 2021	+2.2%	-2.4%	+0.0%	+55.7%	-29.6%	-31.5%	+39.1%	+19.5%	+2.2%	+3.7%	+3.8%	-23.0%
FY 2020	-6.4%	-17.6%	-46.7%	+1338.7%	+299.8%	+315.5%	+22.0%	-72.8%	-3.9%	-10.1%	+6.3%	+0.6%
FY 2019	+14.7%	+22.0%	+5.0%	+92.1%	+18.9%	+20.0%	+4.4%	-23.5%	-40.0%	+36.3%	-10.0%	+3.2%
FY 2018	+27.1%	+50.5%	+66.3%	-1.1%	-144.1%	-128.4%	+260.2%	-33.8%	+40.9%	+5.5%	+5.1%	+5.0%
FY 2017	+22.1%	+62.7%	+150.8%	-365.0%	-5.7%	-5.2%	-13.0%	-88.0%	+81.1%	+56.8%	+162.0%	+262.3%
FY 2016	-5.7%	-4.0%	+14.2%	-14.7%	+9.6%	+0.6%	-19.0%	-0.8%	+17.1%	-2.6%	-6.4%	-3.7%
FY 2015	-4.3%	-7.9%	-27.7%	+65.0%	+28.4%	+63.3%	-3.8%	+10.2%	-16.3%	-6.6%	-5.8%	-18.7%

SegmentsFY 2026

Revenue Mix

Period	Total	Client Solutions	Other Segments	Infrastructure Solutions Group	Enterprise Solutions Group	VMware, Inc.	Corporate, Non-Segment
FY 2026	$113.54B	--	$111.81B	--	--	--	$1.73B
FY 2025	$95.57B	--	$91.99B	--	--	--	$3.58B
FY 2024	$88.42B	$48.92B	$5.61B	$33.88B	--	--	--
FY 2023	$102.29B	$58.21B	$5.72B	$38.36B	--	--	--
FY 2022	$101.22B	$61.46B	$5.39B	$34.37B	--	--	--
FY 2021	$82.51B	$48.35B	$1.57B	$32.59B	--	--	--
FY 2020	$92.15B	$45.84B	$1.79B	$33.97B	--	$10.90B	-$347.0M
FY 2019	$91.33B	$43.20B	$2.33B	$36.72B	--	$9.09B	--
FY 2018	$78.66B	$39.45B	$1.90B	--	$30.65B	$7.92B	-$1.27B
FY 2017	$61.60B	$36.75B	$1.03B	--	$21.78B	$3.23B	-$1.18B

Period	Total	UNITED STATES	Non-US
FY 2026	$113.54B	$63.14B	$50.40B
FY 2025	$95.57B	$51.01B	$44.55B
FY 2024	$88.42B	$43.99B	$44.44B
FY 2023	$102.30B	$49.20B	$53.10B
FY 2022	$101.20B	$46.75B	$54.45B
FY 2021	$94.22B	$45.67B	$48.55B
FY 2020	$92.15B	$43.83B	$48.33B
FY 2019	$90.62B	$42.80B	$47.82B
FY 2018	$38.34B	$38.34B	--
FY 2017	$61.64B	$30.70B	$30.94B

Transcripts

Events

Next earnings

2026-11-24EPS est $6.56

Recent filings

8-K2026-10-21
42026-10-19
42026-10-19

Latest news

Here's Why Dell Technologies (DELL) Fell More Than Broader Market
Zacks Investment Research · 2026-10-22
Dell Technologies Stocks Drop 7% as Agentic AI Factory Expands
GuruFocus · 2026-10-22

Analyst expectations

Consensus target

$564.65

+24.7%

Target range

$289.00 - $735.00

Rating mix

Buy

45 ratings

Next FY revenue

$194.58B

2027-01-30

Next FY EPS

$25.91

$25.32 - $28.73

Rating consensus45 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2027-01-30	$194.58B	$190.92B - $218.87B	$25.91	$25.32 - $28.73	$26.73B	$23.22B	$18.48B	$24.94B	18 rev / 14 EPS
2028-01-30	$235.21B	$194.74B - $298.49B	$30.99	$24.82 - $37.38	$28.34B	$24.23B	$19.34B	$30.15B	20 rev / 8 EPS
2029-01-30	$263.60B	$202.13B - $287.89B	$35.39	$24.45 - $40.56	$32.22B	$27.46B	$22.09B	$33.79B	18 rev / 5 EPS
2030-01-30	$298.44B	$250.09B - $346.40B	$45.78	$36.14 - $55.35	$43.77B	$38.30B	$31.31B	$38.26B	17 rev / 3 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-10-31	$49.24B	$47.70B - $56.82B	$6.56	$6.41 - $7.30	$6.17B	$5.38B	$4.28B	$6.31B	14 rev / 16 EPS
2027-01-31	$53.53B	$50.04B - $68.13B	$7.43	$6.97 - $9.49	$6.87B	$6.05B	$4.85B	$6.86B	14 rev / 6 EPS
2027-04-30	$54.68B	$52.82B - $61.23B	$6.85	$6.55 - $7.92	$6.46B	$5.60B	$4.47B	$7.01B	11 rev / 4 EPS
2027-07-31	$56.70B	$54.77B - $63.49B	$7.44	$7.11 - $8.60	$6.95B	$6.06B	$4.85B	$7.27B	7 rev / 2 EPS
2027-10-31	$59.03B	$57.02B - $66.09B	$8.07	$7.72 - $9.33	$7.47B	$6.54B	$5.26B	$7.57B	10 rev / 2 EPS
2028-01-31	$62.70B	$60.57B - $70.21B	$8.85	$8.46 - $10.23	$8.11B	$7.14B	$5.77B	$8.04B	9 rev / 4 EPS
2028-04-30	$56.82B	$54.89B - $63.62B	$8.05	$7.69 - $9.30	$7.52B	$6.52B	$5.25B	$7.28B	6 rev / 3 EPS
2028-07-31	$58.92B	$56.91B - $65.97B	$8.61	$8.23 - $9.95	$7.98B	$6.95B	$5.61B	$7.55B	7 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	2	$612.00
Last quarter	26	$559.85
Last year	57	$429.44
All time	117	$264.07

Sources: StreetInsider, Benzinga, Pulse 2.0, Barrons

Latest grade actions

Date	Firm	Action	Previous	New
2026-10-14	Barclays	Downgrade	Overweight	Equal Weight
2026-10-06	Mizuho	Maintain	Outperform	Outperform
2026-09-29	TD Cowen	Maintain	Hold	Hold
2026-09-21	Morgan Stanley	Maintain	Equal Weight	Equal Weight
2026-09-09	Evercore ISI Group	Maintain	Outperform	Outperform
2026-09-02	Barclays	Maintain	Overweight	Overweight
2026-09-02	UBS	Maintain	Neutral	Neutral
2026-09-02	Bernstein	Maintain	Outperform	Outperform

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-10-01	6	14	10	0	1
2026-09-01	6	14	9	0	0
2026-08-01	5	14	9	0	0
2026-07-01	5	14	8	0	0
2026-06-01	6	14	8	1	0
2026-05-01	5	14	7	2	1
2026-04-01	5	14	7	1	1
2026-03-01	5	14	7	1	1

Financials

Revenue

$113.54B

Gross margin

20.0%

Operating income

$8.45B

Free cash flow

$8.55B

Cash + ST investments

$11.53B

Net debt

$19.98B

ROE

-240.3%

ROIC

15.0%

EV / sales

0.8x

EV / EBITDA

8.1x

R&D / revenue

2.8%

Current ratio

0.9x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2026	$113.54B	$22.71B	20.0%	$3.14B	$8.45B	$11.85B	$5.94B	$8.96
FY 2025	$95.57B	$21.25B	22.2%	$3.06B	$6.24B	$9.59B	$4.59B	$6.51
FY 2024	$88.42B	$21.07B	23.8%	$2.80B	$5.41B	$8.89B	$3.39B	$4.71
FY 2023	$102.30B	$22.69B	22.2%	$2.78B	$5.77B	$7.66B	$2.44B	$3.33
FY 2022	$101.20B	$21.89B	21.6%	$2.58B	$4.66B	$12.02B	$5.56B	$7.30
FY 2021	$86.67B	$20.14B	23.2%	$2.46B	$3.69B	$9.79B	$3.25B	$4.37
FY 2020	$84.81B	$20.64B	24.3%	$2.45B	$2.37B	$8.49B	$4.62B	$6.38
FY 2019	$90.62B	$25.05B	27.6%	$4.60B	-$191.0M	$8.00B	-$2.31B	$-2.96
FY 2018	$79.04B	$20.54B	26.0%	$4.38B	-$2.42B	$6.38B	-$2.85B	$-3.70
FY 2017	$62.16B	$13.65B	22.0%	$2.64B	-$2.39B	$2.59B	-$1.17B	$-1.62
FY 2016	$50.91B	$8.39B	16.5%	$1.05B	-$514.0M	$2.29B	-$1.10B	$-1.54
FY 2015	$53.98B	$8.74B	16.2%	$920.0M	-$448.0M	$2.57B	-$1.22B	$-1.55

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2026	$11.19B	$2.63B	$8.55B
FY 2025	$4.52B	$2.65B	$1.87B
FY 2024	$8.68B	$2.76B	$5.92B
FY 2023	$3.56B	$3.00B	$562.0M
FY 2022	$10.31B	$2.80B	$7.51B
FY 2021	$11.41B	$2.08B	$9.32B
FY 2020	$9.29B	$2.59B	$6.70B
FY 2019	$6.99B	$1.57B	$5.49B
FY 2018	$6.84B	$1.74B	$5.26B
FY 2017	$2.37B	$906.0M	$1.46B
FY 2016	$2.16B	$482.0M	$1.68B
FY 2015	$2.55B	$478.0M	$2.07B

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2026	$11.53B	$26.04B	$10.44B	$6.68B	$101.29B	$31.50B	$19.98B	$103.76B	-$2.47B
FY 2025	$3.63B	$15.60B	$6.72B	$6.34B	$79.75B	$24.57B	$20.93B	$81.13B	-$1.48B
FY 2024	$7.37B	$13.99B	$3.62B	$6.43B	$82.13B	$25.99B	$18.63B	$84.26B	-$2.23B
FY 2023	$8.61B	$18.14B	$4.78B	$6.21B	$89.61B	$29.59B	$20.98B	$92.64B	-$3.12B
FY 2022	$9.48B	$18.13B	$5.90B	$5.42B	$92.73B	$26.95B	$17.48B	$94.31B	-$1.69B
FY 2021	$9.51B	$15.99B	$3.40B	$4.83B	$123.42B	$41.45B	$31.94B	$115.39B	$2.95B
FY 2020	$9.30B	$17.38B	$3.28B	$7.83B	$118.86B	$53.85B	$44.55B	$115.08B	-$945.0M
FY 2019	$9.68B	$16.77B	$3.65B	$5.26B	$111.82B	$53.52B	$43.84B	$111.57B	-$4.57B
FY 2018	$16.13B	$15.64B	$2.68B	$5.39B	$124.19B	$51.87B	$37.93B	$106.32B	$12.10B
FY 2017	$11.45B	$12.64B	$2.54B	$5.65B	$118.21B	$49.39B	$39.92B	$98.97B	$13.47B
FY 2016	$6.32B	$7.80B	$1.62B	$1.65B	$45.12B	$13.63B	$7.31B	$43.55B	$1.57B
FY 2015	$5.40B	$6.07B	$1.66B	$2.63B	$48.19B	$14.15B	$8.76B	$45.29B	$2.90B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2026	20.0%	7.4%	5.2%	0.9x	0.7x	-240.3%	15.0%	0.8x	8.1x	11.3%	2.8%	-9d
FY 2025	22.2%	6.5%	4.8%	0.8x	0.6x	-309.9%	14.7%	1.0x	9.7x	2.6%	3.2%	-10d
FY 2024	23.8%	6.1%	3.8%	0.7x	0.7x	-152.1%	11.0%	0.9x	9.2x	9.3%	3.2%	-27d
FY 2023	22.2%	5.6%	2.4%	0.8x	0.7x	-78.2%	9.7%	0.5x	6.8x	1.8%	2.7%	1d
FY 2022	21.6%	4.6%	5.5%	0.8x	0.7x	-330.1%	9.2%	0.6x	5.0x	17.5%	2.5%	-32d
FY 2021	23.2%	4.3%	3.7%	0.8x	0.7x	110.1%	4.6%	0.7x	6.1x	33.9%	2.8%	-32d
FY 2020	24.3%	2.8%	5.4%	0.7x	0.6x	-488.5%	-32.4%	0.7x	7.4x	37.5%	2.9%	-21d
FY 2019	27.6%	-0.2%	-2.5%	0.8x	0.7x	50.6%	-0.2%	0.7x	7.7x	31.0%	5.1%	-19d
FY 2018	26.0%	-3.1%	-3.6%	0.9x	0.8x	-23.5%	-1.7%	0.7x	8.2x	36.4%	5.5%	-25d
FY 2017	22.0%	-3.8%	-1.9%	0.8x	0.7x	-8.7%	-1.9%	0.8x	20.3x	11.5%	4.2%	-15d
FY 2016	16.5%	-1.0%	-2.2%	0.9x	0.9x	-70.2%	-2.0%	0.3x	7.0x	19.4%	2.1%	-41d
FY 2015	16.2%	-0.8%	-2.3%	0.8x	0.8x	-42.0%	-1.6%	0.3x	6.8x	23.9%	1.7%	-54d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2026	+18.8%	+6.9%	+2.6%	+35.4%	+29.3%	+37.6%	+357.6%	+0.7%	+217.3%	+55.4%	+27.0%	+28.2%
FY 2025	+8.1%	+0.9%	+9.3%	+15.3%	+35.5%	+38.2%	-68.4%	+3.8%	-50.7%	+85.4%	-2.9%	-5.5%
FY 2024	-13.6%	-7.1%	+0.8%	-6.2%	+38.7%	+41.4%	+953.4%	+8.2%	-14.4%	-24.2%	-8.4%	-12.1%
FY 2023	+1.1%	+3.6%	+7.8%	+23.9%	-56.1%	-54.4%	-92.5%	-7.4%	-9.2%	-19.0%	-3.4%	+9.8%
FY 2022	+16.8%	+8.7%	+5.0%	+26.4%	+71.2%	+67.0%	-19.5%	-34.3%	-0.3%	+73.3%	-24.9%	-35.0%
FY 2021	+2.2%	-2.4%	+0.0%	+55.7%	-29.6%	-31.5%	+39.1%	+19.5%	+2.2%	+3.7%	+3.8%	-23.0%
FY 2020	-6.4%	-17.6%	-46.7%	+1338.7%	+299.8%	+315.5%	+22.0%	-72.8%	-3.9%	-10.1%	+6.3%	+0.6%
FY 2019	+14.7%	+22.0%	+5.0%	+92.1%	+18.9%	+20.0%	+4.4%	-23.5%	-40.0%	+36.3%	-10.0%	+3.2%
FY 2018	+27.1%	+50.5%	+66.3%	-1.1%	-144.1%	-128.4%	+260.2%	-33.8%	+40.9%	+5.5%	+5.1%	+5.0%
FY 2017	+22.1%	+62.7%	+150.8%	-365.0%	-5.7%	-5.2%	-13.0%	-88.0%	+81.1%	+56.8%	+162.0%	+262.3%
FY 2016	-5.7%	-4.0%	+14.2%	-14.7%	+9.6%	+0.6%	-19.0%	-0.8%	+17.1%	-2.6%	-6.4%	-3.7%
FY 2015	-4.3%	-7.9%	-27.7%	+65.0%	+28.4%	+63.3%	-3.8%	+10.2%	-16.3%	-6.6%	-5.8%	-18.7%

Revenue Mix