Dell Technologies
DELL · Technology Hardware, Storage & Peripherals
$456.44
0.8%Supermicro
SMCI · Technology Hardware, Storage & Peripherals
$32.94
2.3%The short version
- Dell Technologies is the larger business, with $113.5B of revenue in fiscal 2026 against $39.1B for Supermicro, about 2.9 times as much.
- Supermicro grew revenue faster (77.8%, against 18.8%).
- Dell Technologies turned more of its sales into free cash flow (7.5% FCF margin, against −17.9% FCF margin).
| Latest fiscal year | DELL · FY26 | SMCI · FY26 |
|---|---|---|
| Size | ||
| Market cap | $297.6B | $23.0B |
| Revenue | $113.5B | $39.1B |
| Free cash flow | $8.6B | −$7.0B |
| Net income | $5.9B | $2.2B |
| Growth | ||
| Revenue growth | 18.8% | 77.8% |
| 5-year growth | 5.6% | 61.5% |
| Share count change | −5.0% | 11.0% |
| Profitability | ||
| Gross margin | 20.0% | 10.8% |
| Operating margin | 7.2% | 7.1% |
| Net margin | 5.2% | 5.7% |
| FCF margin | 7.5% | −17.9% |
| Return on capital | 36.0% | — |
| Return on equity | — | 21.5% |
| Balance sheet | ||
| Net debt | $20.0B | — |
| Net debt / EBITDA | 1.8x | — |
| Dividends and buybacks | $7.5B | $0.0M |
| Valuation & quality | ||
| P/E | 26.5x | — |
| Piotroski F-score | 7 | — |
FY17
DELL $62.2B
SMCI $2.5B
FY18
DELL $79.0B
SMCI $3.4B
FY19
DELL $90.6B
SMCI $3.5B
FY20
DELL $84.8B
SMCI $3.3B
FY21
DELL $86.7B
SMCI $3.6B
FY22
DELL $101.2B
SMCI $5.2B
FY23
DELL $102.3B
SMCI $7.1B
FY24
DELL $88.4B
SMCI $15.0B
FY25
DELL $95.6B
SMCI $22.0B
FY26
DELL $113.5B
SMCI $39.1B
DELL
SMCI
FY17
DELL −3.8%
SMCI 3.8%
FY18
DELL −3.1%
SMCI 2.8%
FY19
DELL −0.2%
SMCI 2.8%
FY20
DELL 2.8%
SMCI 2.6%
FY21
DELL 4.3%
SMCI 3.5%
FY22
DELL 4.6%
SMCI 6.5%
FY23
DELL 5.6%
SMCI 10.7%
FY24
DELL 6.1%
SMCI 8.1%
FY25
DELL 6.5%
SMCI 5.7%
FY26
DELL 7.2%
SMCI 7.1%
DELL
SMCI
FY17
DELL $1.7B
SMCI −$126M
FY18
DELL $5.6B
SMCI $59.5M
FY19
DELL $5.5B
SMCI $238M
FY20
DELL $6.7B
SMCI −$74.7M
FY21
DELL $9.3B
SMCI $64.9M
FY22
DELL $7.5B
SMCI −$486M
FY23
DELL $562M
SMCI $627M
FY24
DELL $5.9B
SMCI −$2.6B
FY25
DELL $1.9B
SMCI $1.5B
FY26
DELL $8.6B
SMCI −$7.0B
DELL
SMCI
FY17
DELL −5.6%
SMCI —
FY18
DELL −3.4%
SMCI —
FY19
DELL −0.3%
SMCI —
FY20
DELL 4.2%
SMCI —
FY21
DELL 8.5%
SMCI —
FY22
DELL 14.6%
SMCI —
FY23
DELL 25.6%
SMCI —
FY24
DELL 25.9%
SMCI —
FY25
DELL 31.4%
SMCI —
FY26
DELL 36.0%
SMCI —
DELL
SMCI
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.