Dell Technologies Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Dell Technologies Inc (DELL) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Dell Technologies Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 151,197M vs 957,911M combined for its competitors (13.6% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+24.3% annualized vs trailing 12 months), vs decelerating (-2.0%) for its tracked peer group.
- Growth: Dell Technologies Inc generated 57.8% revenue growth year over year in Q2 2026, vs 6.0% for its competitors combined.
- Profitability: Its 8.8% net margin compares with 20.4% for the peer group.
- Scale: Dell Technologies Inc ranks #3 of 15 companies by market capitalization in the Computer Hardware industry, holding 3.6% of industry market cap.
- Peer revenue share: Dell Technologies Inc accounted for 16.7% of combined revenue among its tracked peer group, up from 11.9% a year earlier.
- Peer differentiation: Revenue per employee of $1.56M compares with $0.53M for the peer group (2.9x).
- Structure: Dell Technologies Inc operates in the following segments: Infrastructure Solutions Group, Client Solutions, Corporate and Unallocated; and reports the following subsidiaries: DELL INC, EMC CORP.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
DELL Sales vs. its Competitors, Q2 2026
Dell Technologies Inc reported revenue growth of 57.75 % year on year in Q2 2026, above its competitors' combined revenue growth of 5.98 %.
With a net margin of 8.80 %, Dell Technologies Inc reported lower profitability than its competitors (20.44 %).
Dell Technologies Inc generated 16.67 % of the combined sales of its peer group, up from 11.85 % a year earlier.
API endpoints for this dataset
Dell Technologies Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Dell Technologies Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Dell Technologies Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Dell Technologies Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (19) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Dell Technologies Inc's competitor groups requires a Commercial License.
For context: the Computer Hardware industry grew revenue 27.7% year over year, combined, vs 57.8% for Dell Technologies Inc. Dell Technologies Inc's share of combined industry revenue moved from 15.77% to 19.48%, a gain of 3.71 percentage points.
Dell Technologies Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Dell Technologies Inc | Yes | Yes | Yes | No |
| Competitors combined (28) | ||||
| High-Confidence Competitors (26) | ||||
| Similar-Size Competitors (7) | ||||
| Similar Growth & Profitability (8) | 75.00 % (6 of 8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
DELL Stock Performance relative to its Competitors
DELL Stock Performance relative to High-Confidence Competitors
DELL Stock Performance relative to Similar-Size Competitors
DELL Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Hewlett Packard Enterprise Company | 282.9% | Outperformed |
| 2 | Quantum Corp | 282.9% | Outperformed |
| 3 | Insight Enterprises Inc | 282.9% | Outperformed |
| 4 | Bread Financial Holdings Inc | 282.9% | Outperformed |
| 5 | Netapp Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Dell Technologies Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Dell Technologies Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Dell Technologies Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Dell Technologies Inc |
214,201.56 | 151,197.00 |
 Apple Inc |
5,039,791.17 | 478,834.00 |
 Cisco Systems Inc |
374,179.95 | 63,325.00 |
 Oracle Corporation |
348,300.00 | 73,266.00 |
 International Business Machines Corporation |
233,613.25 | 69,868.00 |
 Accenture Plc |
157,676.42 | 74,183.45 |
| SUBTOTAL | 6,664,312.89 | 1,369,865.62 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Dell Technologies Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Dell Technologies Inc's Competitors Named by the Company
Competitive relationships identified from Dell Technologies Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Pc Connection Inc | Company report | 85% |
| Arista Networks inc | Company report | 85% |
| Backblaze Inc | Company report | 85% |
| PSTG | Company report | 85% |
| Super Micro Computer Inc | Company report | 85% |
| Everpure Inc | Company report | 85% |
| Quantum Corp | Company report | 85% |
| Csp inc | Company report | 85% |
| Insight Enterprises Inc | Company report | 85% |
| Skycorp Solar Group Limited | Company report | 85% |
| Vertical Data Inc | Company report | 85% |
| Hp inc | Company report | 85% |
| Cid Holdco Inc | Company report | 85% |
| Commvault Systems Inc | Company report | 85% |
| Mynd ai Inc | Company report | 85% |
| Inuvo Inc | Company report | 85% |
| Boxlight Corporation | Company report | 85% |
| Avid Technology Inc | Company report | 85% |
| Falconstor Software Inc | Company report | 85% |
| One Stop Systems Inc | Company report | 85% |
| Nutanix Inc | Company report | 85% |
| Magic Software Enterprises Ltd | Company report | 85% |
| Netapp Inc | Company report | 85% |
| Talend S a | Company report | 85% |
| Juniper Networks Inc | Company report | 85% |
| Cisco Systems Inc | Company report | 85% |
| International Business Machines Corporation | Company report | 85% |
| Logitech International s a | Company report | 85% |
| Bread Financial Holdings Inc | Company report | 85% |
| Hewlett Packard Enterprise Company | Company report | 85% |
| Samsung Electronics Co Ltd | Company report | 85% |
| Apple Inc | Company report | 85% |
| Extreme Networks Inc | Company report | 85% |
| Oracle Corporation | Company report | 85% |
| Unisys Corp | Company report | 85% |
| Teradata Corporation | Company report | 85% |
Company report basis, confidence, active dates and source counts for Dell Technologies Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Dell Technologies Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Dell Technologies Inc | Infrastructure Solutions Group 53.57 % |
| Apple Inc | Americas 41.84 % |
| Cisco Systems Inc | Americas 60.41 % |
| Oracle Corporation | Cloud and Software Business 83.96 % |
| International Business Machines Corporation | Software 45.63 % |
| Accenture Plc | Americas 49.30 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Dell Technologies Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Dell Technologies Inc | 214,202 | 1,558,732 | 117,299 |
| Apple Inc | 5,039,791 | 2,867,269 | 791,467 |
| Cisco Systems Inc | 374,180 | 768,507 | 161,007 |
| Oracle Corporation | 348,300 | 519,617 | 134,184 |
| International Business Machines Corporation | 233,613 | 228,850 | 36,590 |
| Accenture Plc | 157,676 | 91,134 | 10,284 |
| PEERS TOTAL | 6,450,111 | 532,966 | 88,334 |
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Dell Technologies Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Dell Technologies Inc | United States 55.61 % |
| Apple Inc | Other countries 47.76 % |
| Oracle Corporation | Americas 63.46 % |
| International Business Machines Corporation | Americas 50.14 % |
| Hewlett Packard Enterprise Company | United States 37.01 % |
| Netapp Inc | Americas 51.49 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Dell Technologies Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 15 companies in Dell Technologies Inc's industry classification, broader than the peer set above. Market cap in millions of $.Dell Technologies Inc ranks #3 of 15 companies by market capitalization in its industry, holding 3.59 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 7,163, indicating a highly concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Apple Inc | 5,037,864 | 84.39 % |
| 2 | International Business Machines Corporation | 233,550 | 3.91 % |
| 3 | Dell Technologies Inc | 214,202 | 3.59 % |
| 4 | Sandisk Corporation | 129,434 | 2.17 % |
| 5 | Seagate Technology Holdings Plc | 1,234 | 5.2% |
| 6 | Western Digital Corporation | 1,234 | 5.2% |
| 7 | Hewlett Packard Enterprise Company | 1,234 | 5.2% |
| 8 | Netapp Inc | 1,234 | 5.2% |
| 9 | Hp inc | 1,234 | 5.2% |
| 10 | Super Micro Computer Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Dell Technologies Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Dell Technologies Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Apple Inc | 5,037,864 | 25.65 % |
| 2 | International Business Machines Corporation | 233,550 | -21.14 % |
| 3 | Dell Technologies Inc | 214,202 | 128.10 % |
| 4 | Sandisk Corporation | 1,234 | 12.3% |
| 5 | Seagate Technology Holdings Plc | 1,234 | 12.3% |
| 6 | Western Digital Corporation | 1,234 | 12.3% |
| 7 | Hewlett Packard Enterprise Company | 1,234 | 12.3% |
| 8 | Netapp Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Dell Technologies Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Dell Technologies Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Computer Hardware industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (25 companies). See the full Computer Hardware industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 19.80 % | 27.50 % (avg) | -7.7 pp |
| Operating Margin | 8.16 % | industry median | +1.4 pp |
| EBITDA Margin | 12.27 % | 8.85 % (avg) | +3.4 pp |
| Capital Intensity (Capex / Revenue) | 2.38 % | 2.21 % (avg) | +0.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Dell Technologies Inc's Valuation vs Competitive Position
Valuation multiples vs the Computer Hardware industry average (25 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Computer Hardware industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 16.9x | 30.5x | -13.7x |
| EV / EBITDA | 11.4x | 19.0x | -7.6x |
| P/B | -95.2x | 7.4x | -102.6x |
| Return on Equity | - | industry aggregate | - |
| Return on Invested Capital | 20.31 % | 6.53 % (avg) | 13.78 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Dell Technologies Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 15.21 % | 1.69 % | 0.00 % | 2.25 % | 7.40 % | -13.56 % | 8.08 % | 18.80 % |
| Operating Margin | -0.21 % | 2.85 % | 2.85 % | 5.46 % | 4.60 % | 6.12 % | 6.53 % | 5.49 % |
| Return on Invested Capital | -0.21 % | 3.52 % | 3.31 % | 7.27 % | 14.41 % | 16.62 % | 20.52 % | 10.42 % |
| P/E | 7.0x | 4.3x | 11.9x | 15.1x | 7.6x | 14.8x | 19.7x | 16.3x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Dell Technologies Inc's Strategic Group Map
Dell Technologies Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Dell Technologies Inc's trailing-12-month revenue growth of 49.0% and operating margin of 8.2% compares with an average of 25.0% growth and 1.1% margin across its 8 closest peers by combined growth, margin and ROIC -- Dell Technologies Inc sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Dell Technologies Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Dell Technologies Inc falls in the Dog quadrant: relative market share of 0.04x vs its largest competitor, in an industry growing revenue 9.9% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Apple Inc alone holds 84% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Dell Technologies Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 7,163 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Moderate, in line with the industry | Capital intensity (capex / revenue) of 2.38 % vs industry average 2.21 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Dell Technologies Inc's dedicated Suppliers and Customers pages, not here.
Dell Technologies Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Dell Technologies Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Dell Technologies Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+24.3% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.04x).
Opportunities
- Trades at a lower P/E than the industry average (16.9x vs 30.5x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
- Industry dominated by Apple Inc , holding 84.39 % of industry market cap.
- Tracked peer group's revenue run-rate is broadly decelerating (-2.0% annualized).
Methodology: see Methodology: SWOT Analysis.
Dell Technologies Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Dell Technologies Inc | 0.16 | 0.93 | - |
| Apple Inc | 0.27 | 1.02 | 0.88 |
| Cisco Systems Inc | 0.25 | 0.94 | 0.63 |
| Oracle Corporation | 0.72 | 1.12 | 2.83 |
| International Business Machines Corporation | 0.27 | 0.85 | 3.27 |
| Accenture Plc | 0.51 | 1.38 | 0.20 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Dell Technologies Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Dell Technologies Inc | Q2 2026 | +57.7 % | +255.1 % |
| Apple Inc | Q3 2026 | +11.7 % | +11.8 % |
| Cisco Systems Inc | Q2 2026 | +17.6 % | +51.3 % |
| Oracle Corporation | Q3 2026 | +24.0 % | +62.6 % |
| International Business Machines Corporation | Q3 2026 | +4.7 % | +25.6 % |
| Accenture Plc | Q3 2026 | +6.2 % | +40.7 % |
| PEERS TOTAL | +15.8 % | +32.2 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Dell Technologies Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Dell Technologies Inc | Q2 2026 | +52.7 % | +83.6 % |
| Apple Inc | Q3 2026 | +10.2 % | -30.8 % |
| Cisco Systems Inc | Q2 2026 | +14.8 % | +79.7 % |
| Oracle Corporation | Q3 2026 | - | +235.2 % |
| International Business Machines Corporation | Q3 2026 | +6.0 % | +30.2 % |
| Accenture Plc | Q3 2026 | +5.9 % | +131.9 % |
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Dell Technologies Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Dell Technologies Inc | 10.56% | 18.14% | - |
| Apple Inc | 34.37% | 57.35% | 127.61% |
| Cisco Systems Inc | 10.64% | 11.94% | 27.52% |
| Oracle Corporation | 7.73% | 9.84% | 44.45% |
| International Business Machines Corporation | 7.26% | 7.21% | 32.73% |
| Accenture Plc | 12.18% | 18.35% | 25.70% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Dell Technologies Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Dell Technologies Inc | 19.15 | 1.42 |
| Apple Inc | 38.21 | 10.53 |
| Cisco Systems Inc | 28.10 | 5.91 |
| Oracle Corporation | 18.20 | 4.75 |
| International Business Machines Corporation | 20.85 | 3.34 |
| Accenture Plc | 19.21 | 2.13 |
| PEERS AVERAGE | 31.23 | 4.86 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.