DELL
Dell Technologies Inc.
DELL offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
MSFT
Microsoft Corporation
MSFT has a slight edge over DELL overall, supported by stronger valuation and lower modeled downside.
DELL Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Healthy |
DELL's revenue, profitability, cash flow and balance sheet are all currently healthy.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
DELL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $187 | -50% |
| Forward | 12x | $371 | — |
| Fair | 18x | $313 | -16% |
| Current | 22x | $371 | — |
| Expensive | 26x | $444 | +20% |
Historical ranges are pointers, not guarantees.
DELL's PE is in its expensive range at 22x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its cheap range.
MSFT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $523 | — |
| Cheap | 27x | $525 | +0.4% |
| Current | 27x | $523 | — |
| Fair | 34x | $652 | +25% |
| Expensive | 37x | $711 | +36% |
Historical ranges are pointers, not guarantees.
MSFT has the edge over DELL in the historical PE scenario, which offers more potential upside but is not a forecast.
DELL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
DELL has the edge over MSFT on the outlook, with more favorable profitability expectations.
MSFT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for MSFT, with profitability holding steady.
DELL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $29.83 | +74% |
| Q3 2026 | $17.19 | +153% |
| Q2 2026 | $12.55 | +100% |
| Q1 2026 | $8.68 | +40% |
| Q4 2025 | $7.50 | +33% |
| Q3 2025 | $6.80 | +25% |
| Q2 2025 | $6.27 | +28% |
| Q1 2025 | $6.22 | +43% |
| Q4 2024 | $5.65 | +55% |
DELL has the edge over MSFT on earnings, with stronger typical year-over-year growth.
MSFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.79 | +8.6% |
| Q3 2026 | $19.15 | +36% |
| Q2 2026 | $17.95 | +32% |
| Q1 2026 | $16.80 | +30% |
| Q4 2025 | $15.99 | +29% |
| Q3 2025 | $14.06 | +16% |
| Q2 2025 | $13.64 | +16% |
| Q1 2025 | $12.93 | +12% |
| Q4 2024 | $12.41 | +12% |
MSFT's earnings per share have climbed steadily: $19.15 over the past year, up 36% from the year before, and higher year over year for 14 quarters in a row.
DELL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $47B | +58% |
| Q2 2026 | $43.8B | +88% |
| Q1 2026 | $33.4B | +39% |
| Q4 2025 | $27B | +11% |
| Q3 2025 | $29.8B | +19% |
| Q2 2025 | $23.4B | +5.1% |
| Q1 2025 | $23.9B | +7.2% |
| Q4 2024 | $24.4B | +9.5% |
DELL's revenue has grown year over year for 10 quarters in a row: $47B last quarter, up 58% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +5.5 points |
| Q2 2026 | 8.3% | +3.4 points |
| Q1 2026 | 9.3% | +0.2 points |
| Q4 2025 | 7.8% | +1 points |
| Q3 2025 | 6% | +0.6 points |
| Q2 2025 | 5% | +0.8 points |
| Q1 2025 | 9% | +2.3 points |
| Q4 2024 | 6.8% | +0.2 points |
DELL's operating margin was 11% last quarter, up 5.5 points from the same quarter a year ago, near the top of its range since 2019.
MSFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $92.3B | +19% |
| Q2 2026 | $90B | +18% |
| Q1 2026 | $82.9B | +18% |
| Q4 2025 | $81.3B | +17% |
| Q3 2025 | $77.7B | +18% |
| Q2 2025 | $76.4B | +18% |
| Q1 2025 | $70.1B | +13% |
| Q4 2024 | $69.6B | +12% |
MSFT has the edge over DELL on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 50% | +0.9 points |
| Q2 2026 | 45% | +0.2 points |
| Q1 2026 | 46% | +0.7 points |
| Q4 2025 | 47% | +1.6 points |
| Q3 2025 | 49% | +2.3 points |
| Q2 2025 | 45% | +1.8 points |
| Q1 2025 | 46% | +1.1 points |
| Q4 2024 | 45% | +1.9 points |
MSFT has the edge over DELL on profitability, with a higher operating margin.
DELL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $986M | -47% |
| Q2 2026 | $3.1B | +40% |
| Q1 2026 | $4B | +$4.1B |
| Q4 2025 | $503M | -45% |
| Q3 2025 | $1.9B | +184% |
| Q2 2025 | $2.2B | +398% |
| Q1 2025 | -$150M | -119% |
| Q4 2024 | $914M | -37% |
DELL has the edge over MSFT on cash flow, with more consistent year-over-year improvement.
MSFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.6B | -27% |
| Q2 2026 | $19.6B | -23% |
| Q1 2026 | $15.8B | -22% |
| Q4 2025 | $5.9B | -9.3% |
| Q3 2025 | $25.7B | +33% |
| Q2 2025 | $25.6B | +9.6% |
| Q1 2025 | $20.3B | -3.2% |
| Q4 2024 | $6.5B | -29% |
MSFT's free cash flow has been positive every quarter for seven years: $60B over the past year, down 23% from the year before.
DELL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -4M shares |
| 1 year | -5% | -34M shares |
| 3 years | -12% | -86M shares |
| 5 years | -58% | -899M shares |
| Available history | -56% | -828M shares |
DELL has the edge over MSFT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.8B |
| Q2 2026 | $1.6B |
| Q1 2026 | $1.8B |
| Q4 2025 | $1.2B |
| Q3 2025 | $940M |
| Q2 2025 | $2B |
| Q1 2025 | $734M |
| Q4 2024 | $429M |
DELL spent $8.5B buying back its own shares over the past year, up 109% from the year before.
MSFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -7M shares |
| 1 year | -0.3% | -20M shares |
| 3 years | -0.2% | -16M shares |
| 5 years | -1.6% | -121M shares |
| Available history | -3.2% | -245M shares |
MSFT has 7.4B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.4B |
| Q2 2026 | $4.6B |
| Q1 2026 | $4.6B |
| Q4 2025 | $7.4B |
| Q3 2025 | $5.7B |
| Q2 2025 | $4.5B |
| Q1 2025 | $4.8B |
| Q4 2024 | $5B |
MSFT spent $21B buying back its own shares over the past year, up 5.2% from the year before.
DELL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.8x | Healthy |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.1x | Moderate |
| Q2 2025 | 2.2x | Moderate |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.3x | Moderate |
DELL's net debt is about 1.3 years of its operating earnings (EBITDA), down from 2.1 years a year ago.
MSFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
MSFT has the edge over DELL on leverage, with a lower net debt burden relative to earnings.
DELL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.4 | Neutral |
| Stochastic | 17.5 | Oversold |
DELL's weekly RSI is 45 (neutral) and its Stochastic is 18 (oversold).
MSFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.1 | Neutral |
| Stochastic | 68.0 | Neutral |
MSFT's weekly RSI is 62 (neutral) and its Stochastic is 68 (neutral).
DELL PE vs Technology Sector
| Metric | DELL | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 28x | 23% below |
| PE % | 66 | 35 | 31 pts above |
DELL has the edge over MSFT on valuation relative to its sector.
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT is trading at 27x earnings, in line with the Technology sector's median of 28x.
DELL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $468.0 | 21% below |
| 20 week MA | $465.7 | 20% below |
| 50 week MA | $307.3 | 21% above |
| 100 week MA | $212.9 | 74% above |
| 200 week MA | $149.7 | 148% above |
DELL has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 148% above its 200-week average.
MSFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $524.7 | 0.3% below |
| 20 week MA | $484.8 | 7.9% above |
| 50 week MA | $446.9 | 17% above |
| 100 week MA | $453.8 | 15% above |
| 200 week MA | $411.5 | 27% above |
MSFT has the edge over DELL on trend strength, trading above more of its moving averages.
DELL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.8 | $37.0 | +43% |
| 2021 | $37.0 | $55.9 | +51% |
| 2022 | $55.9 | $39.1 | -30% |
| 2023 | $39.1 | $76.5 | +96% |
| 2024 | $76.5 | $117.3 | +53% |
| 2025 | $117.3 | $129.2 | +10% |
| 2026 YTD | $129.2 | $371.2 | +187% |
DELL has the edge over MSFT on returns for 2026, with the stronger performance.
MSFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $159.0 | $222.8 | +40% |
| 2021 | $222.8 | $334.7 | +50% |
| 2022 | $334.7 | $238.7 | -29% |
| 2023 | $238.7 | $376.0 | +58% |
| 2024 | $376.0 | $430.5 | +14% |
| 2025 | $430.5 | $487.7 | +13% |
| 2026 YTD | $487.7 | $523.0 | +7.2% |
MSFT has finished higher in five of the last six years, two of them by more than 50%. It's up 7.2% so far in 2026.