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Apple vs Dell Technologies: revenue, profit, margins and growth compared

Apple brought in $416.2B of revenue in fiscal 2025, Dell Technologies $113.5B in fiscal 2026. Revenue changed by +6.4% at Apple and +18.8% at Dell Technologies on the year before, so Dell Technologies grew faster. Apple kept 26.9% of its revenue as net profit, Dell Technologies 5.2%. Free cash flow was $98.8B at Apple and $8.6B at Dell Technologies.

Side by side, latest fiscal year

AAPLDELL
Fiscal year endedFY2025 (September 27, 2025)FY2026 (January 30, 2026)
Revenue$416.2B$113.5B
Revenue growth+6.4%+18.8%
Net income$112B$5.9B
Net margin26.9%5.2%
Free cash flow$98.8B$8.6B
Free cash flow margin23.7%7.5%
Earnings per share (diluted)$7.46$8.68
Cash$35.9B$11.5B
Debt$90.7B$31.5B
Price to earnings45.764.8
Market value$4.98T$364.8B
Dividend yield0.30%0.37%
Rank by revenue in sector#1 of 530 · Technology#6 of 530 · Technology

Over the years

Revenue
AAPL FY2018: $265.6BAAPL FY2019: $260.2BAAPL FY2020: $274.5BAAPL FY2021: $365.8BAAPL FY2022: $394.3BAAPL FY2023: $383.3BAAPL FY2024: $391BAAPL FY2025: $416.2BDELL FY2019: $90.6BDELL FY2020: $84.8BDELL FY2021: $86.7BDELL FY2022: $101.2BDELL FY2023: $102.3BDELL FY2024: $88.4BDELL FY2025: $95.6BDELL FY2026: $113.5BFY18FY19FY20FY21FY22FY23FY24FY25FY26
AAPL $416.2BDELL $113.5B
Net income
AAPL FY2018: $59.5BAAPL FY2019: $55.3BAAPL FY2020: $57.4BAAPL FY2021: $94.7BAAPL FY2022: $99.8BAAPL FY2023: $97BAAPL FY2024: $93.7BAAPL FY2025: $112BDELL FY2019: -$2.3BDELL FY2020: $4.6BDELL FY2021: $3.3BDELL FY2022: $5.6BDELL FY2023: $2.4BDELL FY2024: $3.4BDELL FY2025: $4.6BDELL FY2026: $5.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
AAPL $112BDELL $5.9B
Net margin
AAPL FY2018: 22.4%AAPL FY2019: 21.2%AAPL FY2020: 20.9%AAPL FY2021: 25.9%AAPL FY2022: 25.3%AAPL FY2023: 25.3%AAPL FY2024: 24.0%AAPL FY2025: 26.9%DELL FY2019: -2.5%DELL FY2020: 5.4%DELL FY2021: 3.7%DELL FY2022: 5.5%DELL FY2023: 2.4%DELL FY2024: 3.8%DELL FY2025: 4.8%DELL FY2026: 5.2%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AAPL 26.9%DELL 5.2%
Revenue growth
AAPL FY2019: -2.0%AAPL FY2020: +5.5%AAPL FY2021: +33.3%AAPL FY2022: +7.8%AAPL FY2023: -2.8%AAPL FY2024: +2.0%AAPL FY2025: +6.4%DELL FY2020: -6.4%DELL FY2021: +2.2%DELL FY2022: +16.8%DELL FY2023: +1.1%DELL FY2024: -13.6%DELL FY2025: +8.1%DELL FY2026: +18.8%FY19FY20FY21FY22FY23FY24FY25FY26
AAPL +6.4%DELL +18.8%
Free cash flow
AAPL FY2018: $64.1BAAPL FY2019: $58.9BAAPL FY2020: $73.4BAAPL FY2021: $93BAAPL FY2022: $111.4BAAPL FY2023: $99.6BAAPL FY2024: $108.8BAAPL FY2025: $98.8BDELL FY2019: $5.5BDELL FY2020: $6.7BDELL FY2021: $9.3BDELL FY2022: $7.5BDELL FY2023: $562MDELL FY2024: $5.9BDELL FY2025: $1.9BDELL FY2026: $8.6BFY18FY19FY20FY21FY22FY23FY24FY25FY26
AAPL $98.8BDELL $8.6B

Fiscal years as each company reports them; the two may end in different months.

Questions about Apple and Dell Technologies

Which is bigger by revenue, Apple or Dell Technologies?

Apple is bigger by revenue: $416.2B in fiscal 2025, against $113.5B for Dell Technologies in fiscal 2026.

Which keeps more of its revenue as profit, Apple or Dell Technologies?

Apple had a net margin of 26.9% in fiscal 2025; Dell Technologies had 5.2% in fiscal 2026.

Which grew revenue faster, Apple or Dell Technologies?

In their latest fiscal years revenue changed by +6.4% at Apple and +18.8% at Dell Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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