Company Valuation: Dell Technologies Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 54,653 43,396 29,089 58,541 72,282 80,126 - -
Change - -20.6% -32.97% 101.25% 23.47% 10.85% - -
Enterprise Value (EV) 1 88,436 60,873 50,070 77,169 93,216 100,792 99,583 98,236
Change - -31.17% -17.75% 54.12% 20.79% 8.13% -1.2% -1.35%
P/E ratio 17.3x 8.08x 12.5x 19x 16.2x 14.5x 13x 11.2x
PBR 22.1x -25.7x -9.81x -24.6x -49.3x -56.9x 34.1x 16.7x
PEG - 0.1x -0.2x 0.5x 0.3x 0.5x 1.1x 0.7x
Capitalization / Revenue 0.58x 0.43x 0.28x 0.66x 0.76x 0.72x 0.64x 0.6x
EV / Revenue 0.94x 0.6x 0.49x 0.87x 0.98x 0.9x 0.8x 0.74x
EV / EBITDA 6.94x 6.3x 4.65x 7.6x 8.49x 8.22x 7.39x 6.61x
EV / EBIT 8.19x 7.82x 5.8x 10.1x 10.9x 10.4x 9.38x 8.52x
EV / FCF 9.48x 8.1x 89.1x 13x 47.6x 15.1x 12.4x 11.6x
FCF Yield 10.5% 12.3% 1.12% 7.68% 2.1% 6.64% 8.03% 8.64%
Dividend per Share 2 - - 1.32 1.48 1.78 2.081 2.318 2.583
Rate of return - - 3.25% 1.79% 1.72% 1.72% 1.92% 2.14%
EPS 2 4.22 7.03 3.24 4.36 6.38 8.34 9.333 10.8
Distribution rate - - 40.7% 33.9% 27.9% 24.9% 24.8% 23.9%
Net sales 1 94,389 101,229 102,301 88,425 95,567 111,825 124,379 133,423
EBITDA 1 12,747 9,660 10,779 10,148 10,985 12,260 13,481 14,864
EBIT 1 10,798 7,785 8,637 7,678 8,529 9,696 10,615 11,532
Net income 1 3,250 5,563 2,442 3,211 4,592 5,763 6,236 7,135
Net Debt 1 33,783 17,477 20,981 18,628 20,934 20,666 19,458 18,110
Reference price 2 72.89 56.81 40.62 82.88 103.60 120.91 120.91 120.91
Nbr of stocks (in thousands) 749,804 763,885 716,128 706,335 697,705 662,690 - -
Announcement Date 25/02/21 24/02/22 02/03/23 29/02/24 27/02/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.51x0.9x8.23x1.72% 80.22B
36.65x8.38x24.21x0.67% 93.62B
30.92x1.16x6.92x2.42% 31.51B
32.26x4.27x19.67x1.15% 19.57B
51.46x - - 0.28% 18.3B
7.23x0.42x5.15x6.12% 18.04B
9.51x0.15x3.08x4.42% 14.68B
15.56x0.24x7.9x1.13% 13.84B
19.14x2.41x13.58x1.73% 13.29B
Average 24.14x 2.24x 11.09x 2.18% 33.67B
Weighted average by Cap. 26.01x 3.59x 13.90x 1.71%
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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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