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 1,31,888 - -
Change - -33.31% 109.05% 22.72% 3.18% 73.91% - -
Enterprise Value (EV) 1 60,438 49,633 78,525 94,437 95,813 1,50,295 1,47,941 1,45,761
Change - -17.88% 58.21% 20.26% 1.46% 56.86% -1.57% -1.47%
P/E ratio 8x 12.3x 19.4x 16.5x 13.2x 18.1x 16.6x 13.7x
PBR -25.4x -9.66x -25.2x -50.1x -31.8x -123x 36.4x 51.7x
PEG - -0.2x 0.6x 0.4x 0.4x 0.6x 1.87x 0.6x
Capitalization / Revenue 0.42x 0.28x 0.68x 0.77x 0.67x 0.93x 0.87x 0.83x
EV / Revenue 0.6x 0.49x 0.89x 0.99x 0.84x 1.06x 0.97x 0.91x
EV / EBITDA 6.26x 4.6x 7.74x 8.6x 7.65x 10.2x 9.25x 8.63x
EV / EBIT 7.76x 5.75x 10.2x 11.1x 9.59x 12.8x 11.6x 10.4x
EV / FCF 8.05x 88.3x 13.3x 48.2x 11.2x 16.1x 15x 12.9x
FCF Yield 12.4% 1.13% 7.54% 2.07% 8.93% 6.21% 6.68% 7.73%
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% 1.2% 1.36% 1.49%
EPS 2 7.03 3.24 4.36 6.38 8.68 11.28 12.29 14.89
Distribution rate - 40.7% 33.9% 27.9% 20.5% 21.8% 22.6% 20.4%
Net sales 1 1,01,229 1,02,301 88,425 95,567 1,13,538 1,41,905 1,51,853 1,59,517
EBITDA 1 9,660 10,779 10,148 10,985 12,523 14,733 15,986 16,899
EBIT 1 7,785 8,637 7,678 8,529 9,991 11,751 12,803 14,077
Net income 1 5,563 2,442 3,211 4,592 5,936 7,296 7,774 9,122
Net Debt 1 17,477 20,981 18,628 20,934 19,975 18,407 16,053 13,874
Reference price 2 56.24 40.01 84.80 105.35 114.44 204.24 204.24 204.24
Nbr of stocks (in thousands) 7,63,885 7,16,128 7,06,335 6,97,705 6,62,690 6,45,748 - -
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.($)
17.42x1.02x9.86x1.25% 13TCr
46.64x10.84x31.13x0.53% 12TCr
27.65x1.25x7.5x2.15% 3.51TCr
27.28x3.99x16.34x1.36% 2.98TCr
49.68x - - 0.35% 1.93TCr
8.11x0.42x5.36x6.04% 1.82TCr
11.12x0.19x3.78x3.6% 1.79TCr
16.1x0.28x8.69x0.9% 1.72TCr
59.12x - - 0.15% 1.61TCr
21.23x2.72x15.34x1.55% 1.48TCr
Average 28.44x 2.59x 12.25x 1.79% 4.18TCr
Weighted average by Cap. 30.06x 4.39x 16.63x 1.34%

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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