Dell Technologies vs Hewlett Packard Enterprise
Dell Technologies reported revenue of $113.5 billion in fiscal 2026, 3.3 times Hewlett Packard Enterprise's $34.3 billion in fiscal 2025. Dell Technologies' revenue grew 18.8% in its latest year, and Hewlett Packard Enterprise's grew 13.8%. Dell Technologies had an operating margin of 7.2%, against -1.3% at Hewlett Packard Enterprise. Free cash flow was $8.6 billion at Dell Technologies and $627 million at Hewlett Packard Enterprise. Their fiscal years end in different months (January 30 and October 31), so the periods don't line up exactly.
Side by side
| Dell Technologies | Hewlett Packard Enterprise | |
|---|---|---|
| Latest fiscal year | FY2026, Jan 30, 2026 | FY2025, Oct 31, 2025 |
| Revenue | $113.5B | $34.3B |
| Revenue growth | 18.8% | 13.8% |
| Revenue growth a year, last 5 years | 5.5% | 4.9% |
| Gross margin | 20.0% | — |
| Operating margin | 7.2% | −1.3% |
| Net margin | 5.2% | 0.2% |
| Free cash flow | $8.6B | $627M |
| Free cash flow margin | 7.5% | 1.8% |
| Return on capital | 36.0% | −0.9% |
| Net debt to EBITDA | 1.8x | 9.0x |
| Dividends and buybacks | $7.5B | $886M |
| Change in diluted share count | −5.0% | −1.0% |
| Last close | $467.09 | $58.72 |
| P/E at the last close | 27.2× | 30.4× |
| Insider trades, last 12 months | sold $3.1 billion | sold $73.1 million |
| Piotroski F-score | 7 of 9 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Dell TechnologiesHewlett Packard Enterprise
Operating margin
Percent of revenue
Dell TechnologiesHewlett Packard Enterprise
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Dell TechnologiesHewlett Packard Enterprise
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Dell Technologies and Hewlett Packard Enterprise pages.