Dell Technologies Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $5.94B | $4.59B | $3.39B | $2.44B | $5.56B | $3.25B | $4.62B | $-2.31B |
| Depreciation & Amortization | $3.03B | $3.12B | $3.30B | $3.16B | $4.55B | $5.39B | $6.14B | $7.75B |
| Depreciation | $2.20B | $2.10B | $2.00B | $1.80B | $1.60B | $1.30B | $1.10B | $1.30B |
| Amortization | $500.0M | $700.0M | $800.0M | $1.00B | $1.60B | $2.10B | $3.00B | $6.10B |
| Stock-Based Compensation | $723.0M | $785.0M | $878.0M | $931.0M | $1.62B | $1.61B | $1.26B | $918.0M |
| Net Cash from Operating Activities | $11.19B | $4.52B | $8.68B | $3.57B | $10.31B | $11.41B | $9.29B | $6.99B |
| Investing Activities | ||||||||
| Capital Expenditures | $2.63B | $2.65B | $2.76B | $3.00B | $2.80B | $2.08B | $2.58B | $1.50B |
| Business Acquisitions | $84.0M | $0 | $126.0M | $70.0M | $16.0M | $-2.19B | $3.0M | $-130.0M |
| Net Cash from Investing Activities | $-2.06B | $-2.22B | $-2.78B | $-3.02B | $1.31B | $-460.0M | $-4.69B | $3.39B |
| Financing Activities | ||||||||
| Dividends Paid | $1.46B | $1.28B | $1.07B | $964.0M | $0 | $0 | $0 | $2.13B |
| Stock Repurchases | $6.01B | $2.59B | $2.08B | $2.88B | $1.50B | $241.0M | $8.0M | $14.08B |
| Net Cash from Financing Activities | $-1.46B | $-5.82B | $-7.09B | $-1.63B | $-16.61B | $-5.95B | $-4.60B | $-14.33B |
| Net Change in Cash | — | — | $-1.39B | $-1.19B | $-5.10B | $5.03B | $-89.0M | $-4.14B |
| Free Cash Flow | $8.55B | $1.87B | $5.92B | $562.0M | $7.51B | $9.33B | $6.72B | $5.49B |