Dell Technologies
Dell Technologies returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2027 Q2 | Jul 31, 2026 | 59.8% | 36.54% | 168.79% | — | 10.51% | 50.1 pp |
| FY 2027 Q1 | May 1, 2026 | 48.76% | 27.72% | 2,977.17% | — | 8.33% | 39.1 pp |
| FY 2026 Q4 | Jan 30, 2026 | 35.95% | 22.88% | — | — | 6.56% | 26.3 pp |
| FY 2026 Q3 | Oct 31, 2025 | 31.87% | 20.79% | 37.69% | — | 6.15% | 22.2 pp |
| FY 2026 Q2 | Aug 1, 2025 | 31.49% | 20.83% | 45.71% | — | 5.58% | 21.8 pp |
| FY 2026 Q1 | May 2, 2025 | 29.74% | 18.39% | — | — | 5.36% | 20 pp |
| FY 2025 Q4 | Jan 31, 2025 | 31.53% | 18.67% | 42.46% | — | 5.67% | 21.8 pp |
| FY 2025 Q3 | Nov 1, 2024 | 31.76% | 16.39% | 86.78% | — | 5.02% | 22.1 pp |
| FY 2025 Q2 | Aug 2, 2024 | — | — | — | — | — | — |
| FY 2025 Q1 | May 3, 2024 | — | — | — | — | — | — |
| FY 2024 Q4 | Feb 2, 2024 | 24.99% | 14.57% | — | — | 3.74% | 15.3 pp |
| FY 2024 Q3 | Nov 3, 2023 | 21.17% | 14.53% | — | — | 3.16% | 11.5 pp |
| FY 2023 Q4 | Feb 3, 2023 | 25.61% | 15.5% | 21.7% | — | 2.68% | 15.9 pp |
| FY 2023 Q3 | Oct 28, 2022 | 14.48% | 10.38% | — | 66.73% | 1.66% | 4.8 pp |
| FY 2023 Q2 | Jul 29, 2022 | 13% | 9.35% | — | 552.47% | 5.13% | 3.3 pp |
| FY 2023 Q1 | Apr 29, 2022 | 13.62% | 9.46% | — | 1,121.56% | 5.47% | 3.9 pp |
| FY 2022 Q4 | Jan 28, 2022 | 13.58% | 8.81% | — | 1,401.26% | 5.15% | 3.9 pp |
| FY 2022 Q3 | Oct 29, 2021 | — | 9.32% | — | 138.01% | 5.33% | — |
| FY 2022 Q2 | Jul 30, 2021 | — | 9.02% | — | 171.45% | 3.1% | — |
| FY 2022 Q1 | Apr 30, 2021 | — | 8.48% | — | 426.48% | 3.3% | — |
| FY 2021 Q4 | Jan 29, 2021 | 11.26% | 7.58% | — | 718.23% | 2.68% | 1.6 pp |
| FY 2021 Q3 | Oct 30, 2020 | — | 5.4% | — | — | 2.06% | — |
| FY 2021 Q2 | Jul 31, 2020 | — | 5.01% | — | — | 1.77% | — |
| FY 2021 Q1 | May 1, 2020 | — | 4.06% | — | — | 3.88% | — |
| FY 2020 Q4 | Jan 31, 2020 | — | 3.94% | — | — | 4% | — |
| FY 2020 Q3 | Nov 1, 2019 | — | 3.16% | — | 135.07% | 3.28% | — |
| FY 2020 Q2 | Aug 2, 2019 | — | 1.46% | — | 82.89% | 2.12% | — |
| FY 2020 Q1 | May 3, 2019 | — | 0.7% | — | -68.69% | -1.18% | — |
| FY 2019 Q4 | Feb 1, 2019 | — | -0.27% | — | -129.74% | -1.97% | — |
| FY 2019 Q3 | Nov 2, 2018 | — | -1.11% | — | -29.48% | -2.1% | — |
| FY 2019 Q2 | Aug 3, 2018 | — | -1.36% | — | -26.48% | -2.14% | — |
| FY 2019 Q1 | May 4, 2018 | — | -2.51% | — | -27.52% | -2.53% | — |
| FY 2018 Q4 | Feb 2, 2018 | — | -4.26% | — | -33.04% | -3.1% | — |
| FY 2018 Q3 | Nov 3, 2017 | — | -5.78% | — | -29.51% | -2.83% | — |
| FY 2018 Q2 | Aug 4, 2017 | — | -9.55% | — | -70.4% | -4.91% | — |
| FY 2018 Q1 | May 5, 2017 | — | -9.3% | — | -47.19% | -3.83% | — |
| FY 2017 Q4 | Feb 3, 2017 | — | — | — | — | — | — |
| FY 2017 Q3 | Oct 28, 2016 | — | — | — | — | — | — |
| FY 2017 Q2 | Jul 29, 2016 | — | — | — | — | — | — |
| FY 2017 Q1 | Apr 29, 2016 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 9.7%, rounded from the Computers / Peripherals benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · DELL, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.