Dell Technologies (DELL) Operating Expenses (2015 - 2026)
Dell Technologies (DELL) posted Operating Expenses of $4.45 billion for fiscal Q2 2027 (quarter ended Jul 31, 2026), up 21.0% from $3.67 billion a year earlier and up 7.7% from the prior quarter.
Dell Technologies (DELL) Operating Expenses (2015 - 2026) Analysis & Trends
For the trailing twelve months through Jul 31, 2026, Operating Expenses at Dell Technologies was $15.68 billion, up 7.4% year-over-year; for FY2026 (ended Jan 30, 2026), it came in at $14.56 billion, down 3.0% from FY2025.
- Annual Operating Expenses has declined for four consecutive fiscal years, with a five-year compound annual growth rate of -2.4% (FY2021 to FY2026).
- In prior fiscal years, Dell Technologies' Operating Expenses was $15.01 billion in FY2025 (-4.1%), $15.66 billion in FY2024 (-7.4%), $16.92 billion in FY2023 (-1.8%) and $17.23 billion in FY2022 (+4.7%).
- The fiscal Q2 2027 figure stands as the highest quarterly Operating Expenses since fiscal Q4 2023.
- On a year-over-year basis, Operating Expenses has increased in each of the last three quarters, with growth averaging 1.3% over the last eight quarters.
- The strongest year-over-year quarter for Operating Expenses in the past five years was fiscal Q2 2027, with growth of 21.0%; the weakest was fiscal Q3 2022, with a decline of 26.8%.
- According to Business Quant data, Operating Expenses for the three prior fiscal quarters was $4.13 billion (Q1 2027), $3.64 billion (Q4 2026) and $3.47 billion (Q3 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,874.86 Bn | 4,622.35 Bn | 54.77 Bn | 19.08 Bn |
| 2 | Cisco Systems | 442.74 Bn | 378.67 Bn | 11.06 Bn | 6.80 Bn |
| 3 | Dell Technologies | 360.03 Bn | 315.78 Bn | 9.83 Bn | 4.45 Bn |
| 4 | Arista Networks | 261.51 Bn | 214.96 Bn | 1.91 Bn | 532.30 Mn |
| 5 | Sandisk | 251.12 Bn | 239.64 Bn | 7.58 Bn | 545.00 Mn |
| 6 | Seagate Technology Holdings | 192.54 Bn | 187.54 Bn | 1.90 Bn | 2.07 Bn |
| 7 | Western Digital | 149.92 Bn | 138.05 Bn | 2.03 Bn | 465.00 Mn |
| 8 | Sony | 146.49 Bn | 96.88 Bn | 6.53 Bn | 14.83 Bn |
| 9 | Lumentum Holdings | 96.17 Bn | 87.98 Bn | 477.30 Mn | 198.00 Mn |
| 10 | Hewlett Packard Enterprise | 92.09 Bn | 69.97 Bn | 4.93 Bn | 10.82 Bn |
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 |
Dell Technologies Operating Expenses 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=operating-expenses&ticker=DELL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=DELL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();