Dell Technologies (DELL) Operating Expenses (2015 - 2026)

Dell Technologies' (DELL) quarterly Operating Expenses came in at $4.1 billion in Q2 2026, up 9.38% YoY from $3.8 billion in Q2 2025, and up 13.41% on a QoQ basis from $3.6 billion in Q1 2026.

Dell Technologies (DELL) Operating Expenses (2015 - 2026) Analysis & Trends

Dell Technologies (DELL) has 12 years of Operating Expenses data on file, last reported at $4.1 billion in Q2 2026.

  • Quarterly Operating Expenses rose 9.38% year-over-year to $4.1 billion in Q2 2026, while the trailing twelve-month figure through May 2026 was $14.9 billion (changed 0.09% YoY) and the FY2026 annual result came in at $14.6 billion, down 3.03% from the prior year.
  • Operating Expenses climbed to $4.1 billion in Q2 2026, from $3.6 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.
  • Annual changes were most pronounced in 2022 — Operating Expenses jumped 316.94% — and 2024, when it decreased 16.25%.
  • Tracing DELL's Operating Expenses over 5 years: stood at $3.9 billion in 2022, then slipped by 7.17% to $3.7 billion in 2023, then slipped by 0.63% to $3.6 billion in 2024, then decreased by 4.53% to $3.5 billion in 2025, then gained by 18.77% to $4.1 billion in 2026.
  • The last three Operating Expenses figures came in at $4.1 billion (Q2 2026), $3.6 billion (Q1 2026), and $3.5 billion (Q4 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Dell Technologies 279.74 Bn 268.16 Bn 7.78 Bn 4.13 Bn
2 Arista Networks 233.03 Bn 220.67 Bn 1.68 Bn 519.00 Mn
3 Sandisk 191.00 Bn 187.26 Bn 4.66 Bn 551.00 Mn
4 Seagate Technology Holdings 182.93 Bn 181.79 Bn 1.45 Bn 2.11 Bn
5 Western Digital 180.27 Bn 177.03 Bn 1.68 Bn 486.00 Mn
6 Everpure 26.48 Bn 24.98 Bn 723.33 Mn 703.39 Mn
7 Hp 25.04 Bn 21.33 Bn 3.02 Bn 2.40 Bn
8 Super Micro Computer 17.15 Bn 15.86 Bn 1.02 Bn 392.81 Mn
9 Logitech International 15.08 Bn 13.33 Bn 607.94 Mn 349.39 Mn
10 IonQ 13.97 Bn 11.94 Bn 15.41 Mn 336.18 Mn

Historic Data

Download Data
DateValue
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
Jul 30, 2021 4.46 Bn