What is Dell Technologies Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Dell Technologies Inc.'s reported free cash flow gives $201.93 per share. The share price was $562.89 on September 25, 2026, 179% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 0.5% | 10.0% | $113.94 | -80% |
| Base | 5.5% | 9.0% | $201.93 | -64% |
| Bull | 10.5% | 8.0% | $377.35 | -33% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $266.50 | $286.17 | $310.20 | $340.24 | $378.86 |
| 8.0% | $218.35 | $231.10 | $246.17 | $264.26 | $286.36 |
| 9.0% | $183.15 | $191.87 | $201.93 | $213.66 | $227.53 |
| 10.0% | $156.31 | $162.51 | $169.54 | $177.57 | $186.83 |
| 11.0% | $135.20 | $139.74 | $144.82 | $150.54 | $157.01 |
Where the presets come from
Base: years 1 to 5 grow at Dell Technologies Inc.'s revenue growth rate over the last 5 fiscal years (5.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions