Dell Technologies (DELL) Cost of Revenue (2015 - 2026)
Dell Technologies (DELL) reported Cost of Revenue of $37.14 billion for fiscal Q2 2027 (quarter ended Jul 31, 2026), up 52.7% from $24.33 billion a year earlier and up 3.0% from the prior quarter.
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Analysis
Dell Technologies (DELL) Cost of Revenue (2015 - 2026) Analysis & Trends
Over the twelve months ended Jul 31, 2026, Dell Technologies' Cost of Revenue came in at $121.26 billion, up 51.5% year-over-year; for FY2026 (ended Jan 30, 2026), it was $90.83 billion, up 22.2% from FY2025.
- Cost of Revenue has a five-year compound annual growth rate of 6.4% (FY2021 to FY2026).
- By fiscal year, Cost of Revenue came in at $74.32 billion in FY2025 (+10.3%), $67.36 billion in FY2024 (-15.4%), $79.62 billion in FY2023 (+0.4%) and $79.31 billion in FY2022 (+19.2%).
- The fiscal Q2 2027 figure ranks as the highest quarterly Cost of Revenue in data going back to fiscal Q1 2016.
- Year over year, Cost of Revenue has now increased in each of the last ten quarters, with growth averaging 32.0% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was fiscal Q1 2027 (growth of 95.5%); the low point was fiscal Q1 2024 (a decline of 22.1%).
- Per Business Quant data, the three fiscal quarters before Q2 2027 came in at $36.06 billion (Q1 2027), $26.65 billion (Q4 2026) and $21.41 billion (Q3 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,874.86 Bn | 4,622.35 Bn | 54.77 Bn | 54.65 Bn |
| 2 | Cisco Systems | 442.74 Bn | 378.67 Bn | 11.06 Bn | 6.19 Bn |
| 3 | Dell Technologies | 360.03 Bn | 315.78 Bn | 9.83 Bn | 37.14 Bn |
| 4 | Arista Networks | 261.51 Bn | 214.96 Bn | 1.91 Bn | 1.13 Bn |
| 5 | Sandisk | 251.12 Bn | 239.64 Bn | 7.58 Bn | 1.38 Bn |
| 6 | Seagate Technology Holdings | 192.54 Bn | 187.54 Bn | 1.90 Bn | 1.73 Bn |
| 7 | Western Digital | 149.92 Bn | 138.05 Bn | 2.03 Bn | 1.72 Bn |
| 8 | Sony | 146.49 Bn | 96.88 Bn | 6.53 Bn | 11.27 Bn |
| 9 | Lumentum Holdings | 96.17 Bn | 87.98 Bn | 477.30 Mn | 509.80 Mn |
| 10 | Hewlett Packard Enterprise | 92.09 Bn | 69.97 Bn | 4.93 Bn | 7.29 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 37.14 Bn |
| May 1, 2026 | 36.06 Bn |
| Jan 30, 2026 | 26.65 Bn |
| Oct 31, 2025 | 21.41 Bn |
| Aug 1, 2025 | 24.33 Bn |
| May 2, 2025 | 18.44 Bn |
| Jan 31, 2025 | 18.25 Bn |
| Nov 1, 2024 | 19.01 Bn |
| Aug 2, 2024 | 19.67 Bn |
| May 3, 2024 | 17.39 Bn |
| Feb 2, 2024 | 16.95 Bn |
| Nov 3, 2023 | 17.05 Bn |
| Aug 4, 2023 | 17.52 Bn |
| May 5, 2023 | 15.84 Bn |
| Feb 3, 2023 | 19.28 Bn |
| Oct 28, 2022 | 19.01 Bn |
| Jul 29, 2022 | 20.99 Bn |
| Apr 29, 2022 | 20.33 Bn |
| Jan 28, 2022 | 22.37 Bn |
| Oct 29, 2021 | 20.89 Bn |
API Access
Dell Technologies Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=DELL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "DELL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=DELL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();