Dell Technologies (DELL) Operating Margin (2015 - 2026)
Dell Technologies (DELL) recorded Operating Margin of 11.46% in fiscal Q2 2027 (quarter ended Jul 31, 2026), up 5.51 percentage points from 5.95% a year earlier and up 3.13 percentage points from the prior quarter.
Dell Technologies (DELL) Operating Margin (2015 - 2026) Analysis & Trends
On a TTM basis, Dell Technologies' Operating Margin came in at 9.43% as of Jul 31, 2026, up 2.71 percentage points year-over-year; for FY2026 (ended Jan 30, 2026), it was 7.18%, up 0.65 percentage points from FY2025.
- Annual Operating Margin has increased for nine straight fiscal years, with a five-year change of +2.93 percentage points (FY2021 to FY2026).
- Across earlier fiscal years, Operating Margin came in at 6.53% in FY2025 (+0.41 pp), 6.12% in FY2024 (+0.48 pp), 5.64% in FY2023 (+1.04 pp) and 4.60% in FY2022 (+0.35 pp).
- The fiscal Q2 2027 figure is the highest quarterly Operating Margin in data going back to fiscal Q1 2016.
- On a year-over-year basis, Operating Margin has increased for nine consecutive quarters, with an average year-over-year change of +1.65 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 5.51 percentage points in fiscal Q2 2027, against a drop of 1.27 percentage points in fiscal Q3 2022 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 8.34% (Q1 2027), 9.26% (Q4 2026) and 7.85% (Q3 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,874.86 Bn | 4,622.35 Bn | 54.77 Bn | 32.62% |
| 2 | Cisco Systems | 442.74 Bn | 378.67 Bn | 11.06 Bn | 24.72% |
| 3 | Dell Technologies | 360.03 Bn | 315.78 Bn | 9.83 Bn | 11.46% |
| 4 | Arista Networks | 261.51 Bn | 214.96 Bn | 1.91 Bn | 45.39% |
| 5 | Sandisk | 251.12 Bn | 239.64 Bn | 7.58 Bn | 78.49% |
| 6 | Seagate Technology Holdings | 192.54 Bn | 187.54 Bn | 1.90 Bn | 42.96% |
| 7 | Western Digital | 149.92 Bn | 138.05 Bn | 2.03 Bn | 41.71% |
| 8 | Sony | 146.49 Bn | 96.88 Bn | 6.53 Bn | 16.79% |
| 9 | Lumentum Holdings | 96.17 Bn | 87.98 Bn | 477.30 Mn | 27.76% |
| 10 | Hewlett Packard Enterprise | 92.09 Bn | 69.97 Bn | 4.93 Bn | 11.41% |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 11.46% |
| May 1, 2026 | 8.34% |
| Jan 30, 2026 | 9.26% |
| Oct 31, 2025 | 7.85% |
| Aug 1, 2025 | 5.95% |
| May 2, 2025 | 4.98% |
| Jan 31, 2025 | 9.02% |
| Nov 1, 2024 | 7.06% |
| Aug 2, 2024 | 5.56% |
| May 3, 2024 | 4.34% |
| Feb 2, 2024 | 6.93% |
| Nov 3, 2023 | 6.92% |
| Aug 4, 2023 | 5.21% |
| May 5, 2023 | 5.41% |
| Feb 3, 2023 | 4.75% |
| Oct 28, 2022 | 7.13% |
| Jul 29, 2022 | 4.81% |
| Apr 29, 2022 | 5.94% |
| Jan 28, 2022 | 5.75% |
| Oct 29, 2021 | 3.96% |
Dell Technologies Operating Margin 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-margin&ticker=DELL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=DELL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();