Dell Technologies (DELL) Operating Expenses (2015 - 2026)
Dell Technologies (DELL) posted Operating Expenses of $4.4 billion for Q3 2026, up 7.73% quarter-over-quarter from $4.1 billion in Q2 2026, and up 20.99% YoY from $3.7 billion in Q3 2025.
Analysis
Dell Technologies (DELL) Operating Expenses (2015 - 2026) Analysis & Trends
Dell Technologies (DELL) has 12 years of Operating Expenses data on file, last reported at $4.4 billion in Q3 2026.
- For the quarter ending Q3 2026, Operating Expenses rose 20.99% year-over-year to $4.4 billion; the trailing twelve-month figure through Jul 2026 stood at $15.7 billion (up 7.39% YoY), and the FY2026 full-year result was $14.6 billion, down 3.03% from the prior year.
- Operating Expenses was $4.4 billion for Q3 2026 at Dell Technologies, up from $4.1 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $4.6 billion in Q1 2023 to a low of $3.5 billion in Q4 2025.
- A 5-year average of $3.9 billion and a median of $3.9 billion in 2022 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses soared 316.94% in 2022 and dropped 16.25% in 2024, its largest moves.
- Dell Technologies' Operating Expenses stood at $3.9 billion in 2022, then decreased by 7.17% to $3.7 billion in 2023, then decreased by 0.63% to $3.6 billion in 2024, then retreated by 4.53% to $3.5 billion in 2025, then increased by 27.95% to $4.4 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $4.4 billion in Q3 2026, $4.1 billion in Q2 2026, and $3.6 billion in Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Dell Technologies | 362.97 Bn | 351.40 Bn | 9.83 Bn | 4.45 Bn |
| 2 | Arista Networks | 251.55 Bn | 238.20 Bn | 1.91 Bn | 532.30 Mn |
| 3 | Sandisk | 238.47 Bn | 233.71 Bn | 7.58 Bn | 545.00 Mn |
| 4 | Seagate Technology Holdings | 188.28 Bn | 186.57 Bn | 1.90 Bn | 2.07 Bn |
| 5 | Western Digital | 161.43 Bn | 159.85 Bn | 2.03 Bn | 465.00 Mn |
| 6 | Hewlett Packard Enterprise | 82.45 Bn | 76.23 Bn | 4.93 Bn | 10.82 Bn |
| 7 | NetApp | 39.14 Bn | 35.57 Bn | 1.42 Bn | 935.00 Mn |
| 8 | Everpure | 32.71 Bn | 31.71 Bn | 811.39 Mn | 748.23 Mn |
| 9 | Super Micro Computer | 26.34 Bn | 18.82 Bn | 1.94 Bn | 454.57 Mn |
| 10 | Penguin Solutions | 2.62 Bn | 2.38 Bn | 133.21 Mn | 82.35 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 4.45 Bn |
| May 1, 2026 | 4.13 Bn |
| Jan 30, 2026 | 3.64 Bn |
| Oct 31, 2025 | 3.47 Bn |
| Aug 1, 2025 | 3.67 Bn |
| May 2, 2025 | 3.77 Bn |
| Jan 31, 2025 | 3.52 Bn |
| Nov 1, 2024 | 3.64 Bn |
| Aug 2, 2024 | 3.97 Bn |
| May 3, 2024 | 3.89 Bn |
| Feb 2, 2024 | 3.83 Bn |
| Nov 3, 2023 | 3.66 Bn |
| Aug 4, 2023 | 4.22 Bn |
| May 5, 2023 | 3.95 Bn |
| Feb 3, 2023 | 4.57 Bn |
| Oct 28, 2022 | 3.95 Bn |
| Jul 29, 2022 | 4.17 Bn |
| Apr 29, 2022 | 4.23 Bn |
| Jan 28, 2022 | 4.01 Bn |
| Oct 29, 2021 | 4.49 Bn |