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Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Dell Technologies Inc.DELL · business equipment
GradeElkB/Con the B/C boundary of 497 graded peers; percentile 38.7, sampling error 2.2 points; lower is stronger
Rank193 of 497
ProfitabilityB/Cpercentile 38.4
SolvencyDpercentile 67.7
Growth and financingBpercentile 29.2
Reliability0.94 AUCfailure model, filers with over $2.67B assets; 95% interval 0.88 to 0.97; 61 events, 2020 to 2025
Peer failure rate0.52% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size bandover $2.67B assetstotal assets $101.3B[1]
Standard universeinsiderevenue above $1M and assets above $10M[1-2]
Warningsnone activenot computable: distress
Inputs computable12 of 14
Graded fromfilings received through Mar 16, 2026207 days before the rescan; every figure keyed to the SEC receipt date
Last close$575.002026-10-08; market equity $368.0B; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$200$400$600NovDecJanFebMarAprMayJunJulAugSepOctDBB/C$574.55
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Apr 21, 2017nonen/aQ5
Apr 21, 2020E94.1Q5
Apr 21, 2022D/E79.4Q5
Feb 21, 2023D76.8Q5
Mar 21, 2024D/E79.9Q5
Apr 21, 2024D76.0Q5
Mar 21, 2026B36.4Q5
Aug 21, 2026B/C38.4Q5

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received Mar 16, 2026; the document on sec.gov.

Because of the interrelation of the products and services offered in each of our segments, we generally do not designate our properties to either segment. With limited exceptions, each property is used at least in part by both of our segments, and we retain the flexibility to make future use of each of the properties available to each segment. We believe that our existing properties are suitable and adequate for our current needs. We will continue to assess our facilities requirements as part of normal business operations.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 38.4
Gross profitability22.4%[1,3]28.5%60.15582026-01-30
Return on invested capital36.0%[4-12]10.9%10.41362026-01-30
Accruals ratio(5.8%)[1,13-15](7.4%)60.56212026-01-30
Gross margin stability, five years1.2 pts[2-3,16-23]2.4 pts22.44292026-01-30
Solvency, sleeve percentile 67.7
Twelve-month failure probabilitynot computable0.05%
latest liabilities, cash plus short-term investments, book equity, and shares are required
Altman Z double-prime0.26[1,4,8,24-27]2.1856.35662026-01-30
Net debt to EBITDA1.79x[4,7,9,28]1.11x62.31472026-01-30
Interest coveragenot computable3.77x
latest aligned inputs end 2024-02-02; latest annual assets end 2026-01-30
Current ratio0.91x[24-25]2.02x84.56662026-01-30
Growth and financing, sleeve percentile 29.2
Revenue growth, three-year compound3.5%[2,17,19,21]6.4%57.05382026-01-30
Free cash flow growth, three-year compound147.8%[14,29-35]17.2%3.42682026-01-30
Reinvestment rate63.6%[4-6,24-25,28-29,36-37]14.3%29.82262026-01-30
Asset growth, three years4.2%[1,15,38-39]5.0%50.25632026-01-30
Net share issuance, one year(6.3%)[40-41]0.5%5.74072026-01-30

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.109; sampling error 2.2 percentile points on 497 peers.

Among 497 Peers [top]

ABCDENVDA, Nvidia Corp.; A, percentile 3.0; market equity $5.6T; warnings: fortress balance sheetNVDAMSFT, Microsoft Corp.; A, percentile 8.7; market equity $3.9TMSFTAMD, Advanced Micro Devices Inc.; A/B, percentile 20.2; market equity $1.0T; warnings: fortress balance sheetAMDAAPL, Apple Inc.; B, percentile 35.5; market equity $5.0TAAPLMU, Micron Technology Inc.; B/C, percentile 40.9; market equity $1.2TMUAVGO, Broadcom Inc.; C, percentile 53.2; market equity $1.7TAVGODELL 38.7strongerweaker

Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.

RankCompanyPercentileLetterWarnings
188Guidewire Software, Inc. (GWRE)

Guidewire Software, Inc. (GWRE)

Bsecond fifth; percentile 37.7

NYSE · Services-Prepackaged Software

market equity $13.5B; last close $164.66

Warnings: fortress balance sheet; 12 of 14 inputs

37.7Bfortress balance sheet
189Agilent Technologies, Inc. (A)

Agilent Technologies, Inc. (A)

B/Con the B/C boundary; percentile 37.9

NYSE · Laboratory Analytical Instruments

market equity $47.4B; last close $168.14

No active warnings; 13 of 14 inputs

37.9B/C
190Plexus Corp. (PLXS)

Plexus Corp. (PLXS)

B/Con the B/C boundary; percentile 38.1

Nasdaq · Printed Circuit Boards

market equity $7.0B; last close $261.46

Warnings: fortress balance sheet; 10 of 14 inputs

38.1B/Cfortress balance sheet
19110x Genomics, Inc. (TXG)

10x Genomics, Inc. (TXG)

B/Con the B/C boundary; percentile 38.3

Nasdaq · Laboratory Analytical Instruments

market equity $9.9B; last close $77.23

Warnings: fortress balance sheet; 8 of 14 inputs

38.3B/Cfortress balance sheet
192Silicon Laboratories Inc. (SLAB)

Silicon Laboratories Inc. (SLAB)

B/Con the B/C boundary; percentile 38.5

Nasdaq · Semiconductors & Related Devices

market equity $7.4B; last close $221.75

No active warnings; 9 of 14 inputs

38.5B/C
193Dell Technologies Inc. (DELL)

Dell Technologies Inc. (DELL)

B/Con the B/C boundary; percentile 38.7

NYSE · Electronic Computers

market equity $367.7B; last close $575.00

No active warnings; 12 of 14 inputs

38.7B/C
194Flex Ltd. (FLEX)

Flex Ltd. (FLEX)

B/Con the B/C boundary; percentile 38.9

Nasdaq · Printed Circuit Boards

market equity $42.4B; last close $114.75

No active warnings; 12 of 14 inputs

38.9B/C
195Sprinklr, Inc. (CXM)

Sprinklr, Inc. (CXM)

B/Con the B/C boundary; percentile 39.1

NYSE · Services-Prepackaged Software

last close $5.42

Warnings: fortress balance sheet; 9 of 14 inputs

39.1B/Cfortress balance sheet
196Data I/O Corp. (DAIO)

Data I/O Corp. (DAIO)

B/Con the B/C boundary; percentile 39.3

Nasdaq · Instruments For Meas & Testing of Electricity & Elec Signals

market equity $29.6M; last close $2.87

Warnings: late filer; 7 of 14 inputs

39.3B/Clate filer
197Ciena Corp. (CIEN)

Ciena Corp. (CIEN)

B/Con the B/C boundary; percentile 39.5

NYSE · Telephone & Telegraph Apparatus

market equity $60.4B; last close $425.94

Warnings: fortress balance sheet; 10 of 14 inputs

39.5B/Cfortress balance sheet
198Leidos Holdings, Inc. (LDOS)

Leidos Holdings, Inc. (LDOS)

B/Con the B/C boundary; percentile 39.7

NYSE · Services-Computer Integrated Systems Design

market equity $15.0B; last close $119.20

No active warnings; 12 of 14 inputs

39.7B/C
Peer policyLetterPercentilePeers
all graded filers, equal sleevesB26.12204
sector peers, equal sleeves (the grade)B/C38.7497
same exchange, equal sleevesB28.6984
sector peers, equal inputsB26.8497

Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month225.7%2.2%98hotter than 98 of 100 peers
Distance from 52-week high(2.4%)(30.0%)94closer to its high than 94 of 100 peers
EBIT to enterprise value2.1%1.5%56pricier than 44 of 100 peers
Free cash flow yield2.3%2.7%44pricier than 56 of 100 peers
Book value to price(0.00)0.236pricier than 94 of 100 peers
Sales to price0.310.3051pricier than 49 of 100 peers
Composite equity issuance, five years(93.8%)3.9%0more equity-funded than 0 of 100 peers
Relative strength against the sector, log excess return0.90(0.26)98ahead of 98 of 100 peers

Inputs: market equity $367.7B; EBIT $8.1B; free cash flow $8.6B; book equity -$1.4B; sales $113.5B; debt $34.5B; cash $11.6B[42].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: 7 of 9, period end 2026-01-30
Return on assets above zero7.4%✓ pass[13,15]
Operating cash flow above zero$11.2B✓ pass[14]
Return on assets improved1.9 pts✓ pass[13,15,38,43]
Operating cash flow exceeds net income$5.2B✓ pass[13-14]
Long-term leverage fell2.1 pts✗ fail[1,15,38,44-45]
Current ratio improved13.2 pts✓ pass[24-25,36-37]
No new shares issued(6.3%)✓ pass[40-41]
Gross margin improved(2.2 pts)✗ fail[2-3,16-17]
Asset turnover improved26.0 pts✓ pass[2,15,17,38]
Cash, filings, liquidity
Cash and equivalents$11.6B[46]
Operating cash flow, four quarters$12.2B[14,46-50]
Months of runwaynot finite
trailing operating cash flow is nonnegative, so runway is not finite
Late filings, two years0
NT 10-K or NT 10-Q
Days since last periodic filing31
10-Q received Sep 8, 2026
Median daily dollar volume$3.0B
63 sessions
Days since newest grade input207

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$101.3B2026-01-302026-03-1610-Kfiling · viewer · series
2revenueus-gaap:Revenues$113.5B2026-01-302026-03-1610-Kfiling · viewer · series
3gross profitus-gaap:GrossProfit$22.7B2026-01-302026-03-1610-Kfiling · viewer · series
4operating incomeus-gaap:OperatingIncomeLoss$8.1B2026-01-302026-03-1610-Kfiling · viewer · series
5pretax incomeus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest$7.3B2026-01-302026-03-1610-Kfiling · viewer · series
6income taxus-gaap:IncomeTaxExpenseBenefit$1.3B2026-01-302026-03-1610-Kfiling · viewer · series
7total debtus-gaap:LongTermDebt$31.5B2026-01-302026-03-1610-Kfiling · viewer · series
8book equityus-gaap:StockholdersEquity-$2.5B2026-01-302026-03-1610-Kfiling · viewer · series
9cashus-gaap:CashAndCashEquivalentsAtCarryingValue$11.5B2026-01-302026-03-1610-Kfiling · viewer · series
10total debtus-gaap:LongTermDebt$24.6B2025-01-312026-03-1610-Kfiling · viewer · series
11book equityus-gaap:StockholdersEquity-$1.5B2025-01-312026-03-1610-Kfiling · viewer · series
12cashus-gaap:CashAndCashEquivalentsAtCarryingValue$3.6B2025-01-312026-03-1610-Kfiling · viewer · series
13net incomeus-gaap:NetIncomeLoss$5.9B2026-01-302026-03-1610-Kfiling · viewer · series
14operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$11.2B2026-01-302026-03-1610-Kfiling · viewer · series
15assetsus-gaap:Assets$79.7B2025-01-312026-03-1610-Kfiling · viewer · series
16gross profitus-gaap:GrossProfit$21.2B2025-01-312026-03-1610-Kfiling · viewer · series
17revenueus-gaap:Revenues$95.6B2025-01-312026-03-1610-Kfiling · viewer · series
18gross profitus-gaap:GrossProfit$21.1B2024-02-022026-03-1610-Kfiling · viewer · series
19revenueus-gaap:Revenues$88.4B2024-02-022026-03-1610-Kfiling · viewer · series
20gross profitus-gaap:GrossProfit$22.7B2023-02-032025-03-2510-Kfiling · viewer · series
21revenueus-gaap:Revenues$102.3B2023-02-032025-03-2510-Kfiling · viewer · series
22gross profitus-gaap:GrossProfit$21.9B2022-01-282024-03-2510-Kfiling · viewer · series
23revenueus-gaap:Revenues$101.2B2022-01-282024-03-2510-Kfiling · viewer · series
24current assetsus-gaap:AssetsCurrent$57.6B2026-01-302026-03-1610-Kfiling · viewer · series
25current liabilitiesus-gaap:LiabilitiesCurrent$63.3B2026-01-302026-03-1610-Kfiling · viewer · series
26retained earningsus-gaap:RetainedEarningsAccumulatedDeficit$3.3B2026-01-302026-03-1610-Kfiling · viewer · series
27liabilitiesus-gaap:Liabilities$103.8B2026-01-302026-03-1610-Kfiling · viewer · series
28depreciation amortizationus-gaap:DepreciationDepletionAndAmortization$3.0B2026-01-302026-03-1610-Kfiling · viewer · series
29capital expenditureus-gaap:PaymentsToAcquirePropertyPlantAndEquipment$2.6B2026-01-302026-03-1610-Kfiling · viewer · series
30operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$4.5B2025-01-312026-03-1610-Kfiling · viewer · series
31capital expenditureus-gaap:PaymentsToAcquirePropertyPlantAndEquipment$2.7B2025-01-312026-03-1610-Kfiling · viewer · series
32operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$8.7B2024-02-022026-03-1610-Kfiling · viewer · series
33capital expenditureus-gaap:PaymentsToAcquirePropertyPlantAndEquipment$2.8B2024-02-022026-03-1610-Kfiling · viewer · series
34operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$3.6B2023-02-032025-03-2510-Kfiling · viewer · series
35capital expenditureus-gaap:PaymentsToAcquirePropertyPlantAndEquipment$3.0B2023-02-032025-03-2510-Kfiling · viewer · series
36current assetsus-gaap:AssetsCurrent$36.2B2025-01-312026-03-1610-Kfiling · viewer · series
37current liabilitiesus-gaap:LiabilitiesCurrent$46.5B2025-01-312026-03-1610-Kfiling · viewer · series
38assetsus-gaap:Assets$82.1B2024-02-022025-03-2510-Kfiling · viewer · series
39assetsus-gaap:Assets$89.6B2023-02-032024-03-2510-Kfiling · viewer · series
40shares outstandingus-gaap:CommonStockSharesOutstanding652,000,0002026-01-302026-03-1610-Kfiling · viewer · series
41shares outstandingus-gaap:CommonStockSharesOutstanding696,000,0002025-01-312026-03-1610-Kfiling · viewer · series
42shares outstandingus-gaap:CommonStockSharesOutstanding640,000,0002026-07-312026-09-0810-Qfiling · viewer · series
43net incomeus-gaap:NetIncomeLoss$4.6B2025-01-312026-03-1610-Kfiling · viewer · series
44long term debtus-gaap:LongTermDebtNoncurrent$23.5B2026-01-302026-03-1610-Kfiling · viewer · series
45long term debtus-gaap:LongTermDebtNoncurrent$19.4B2025-01-312026-03-1610-Kfiling · viewer · series
46cashus-gaap:CashAndCashEquivalentsAtCarryingValue$11.6B2026-07-312026-09-0810-Qfiling · viewer · series
47operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$6.3B2026-07-312026-09-0810-Qfiling · viewer · series
48operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$4.1B2026-05-012026-06-0910-Qfiling · viewer · series
49operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$6.5B2025-10-312025-12-0910-Qfiling · viewer · series
50operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$5.3B2025-08-012026-09-0810-Qfiling · viewer · series

Limitations [top]

Grade boundary. Percentile 38.7 is 1.3 points from the nearest band edge; sampling error is 2.2 points.

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026