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

Dell Technologies brought in $113.5B of revenue in fiscal 2026, Microsoft $331.8B in fiscal 2026. Revenue changed by +18.8% at Dell Technologies and +17.8% at Microsoft on the year before, so Dell Technologies grew faster. Dell Technologies kept 5.2% of its revenue as net profit, Microsoft 40.3%. Free cash flow was $8.6B at Dell Technologies and $67B at Microsoft.

Side by side, latest fiscal year

DELLMSFT
Fiscal year endedFY2026 (January 30, 2026)FY2026 (June 30, 2026)
Revenue$113.5B$331.8B
Revenue growth+18.8%+17.8%
Net income$5.9B$133.7B
Net margin5.2%40.3%
Free cash flow$8.6B$67B
Free cash flow margin7.5%20.2%
Earnings per share (diluted)$8.68$17.95
Cash$11.5B$20.9B
Debt$31.5B$40.3B
Price to earnings64.828.8
Market value$364.8B$3.83T
Dividend yield0.37%0.71%
Rank by revenue in sector#6 of 530 · Technology#3 of 530 · Technology

Over the years

Revenue
DELL FY2019: $90.6BDELL FY2020: $84.8BDELL FY2021: $86.7BDELL FY2022: $101.2BDELL FY2023: $102.3BDELL FY2024: $88.4BDELL FY2025: $95.6BDELL FY2026: $113.5BMSFT FY2019: $125.8BMSFT FY2020: $143BMSFT FY2021: $168.1BMSFT FY2022: $198.3BMSFT FY2023: $211.9BMSFT FY2024: $245.1BMSFT FY2025: $281.7BMSFT FY2026: $331.8BFY19FY20FY21FY22FY23FY24FY25FY26
DELL $113.5BMSFT $331.8B
Net income
DELL FY2019: -$2.3BDELL FY2020: $4.6BDELL FY2021: $3.3BDELL FY2022: $5.6BDELL FY2023: $2.4BDELL FY2024: $3.4BDELL FY2025: $4.6BDELL FY2026: $5.9BMSFT FY2019: $39.2BMSFT FY2020: $44.3BMSFT FY2021: $61.3BMSFT FY2022: $72.7BMSFT FY2023: $72.4BMSFT FY2024: $88.1BMSFT FY2025: $101.8BMSFT FY2026: $133.7BFY19FY20FY21FY22FY23FY24FY25FY26
DELL $5.9BMSFT $133.7B
Net margin
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%MSFT FY2019: 31.2%MSFT FY2020: 31.0%MSFT FY2021: 36.5%MSFT FY2022: 36.7%MSFT FY2023: 34.1%MSFT FY2024: 36.0%MSFT FY2025: 36.1%MSFT FY2026: 40.3%FY19FY20FY21FY22FY23FY24FY25FY26
DELL 5.2%MSFT 40.3%
Revenue growth
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%MSFT FY2020: +13.6%MSFT FY2021: +17.5%MSFT FY2022: +18.0%MSFT FY2023: +6.9%MSFT FY2024: +15.7%MSFT FY2025: +14.9%MSFT FY2026: +17.8%FY20FY21FY22FY23FY24FY25FY26
DELL +18.8%MSFT +17.8%
Free cash flow
DELL FY2019: $5.5BDELL FY2020: $6.7BDELL FY2021: $9.3BDELL FY2022: $7.5BDELL FY2023: $562MDELL FY2024: $5.9BDELL FY2025: $1.9BDELL FY2026: $8.6BMSFT FY2019: $38.3BMSFT FY2020: $45.2BMSFT FY2021: $56.1BMSFT FY2022: $65.1BMSFT FY2023: $59.5BMSFT FY2024: $74.1BMSFT FY2025: $71.6BMSFT FY2026: $67BFY19FY20FY21FY22FY23FY24FY25FY26
DELL $8.6BMSFT $67B

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

Questions about Dell Technologies and Microsoft

Which is bigger by revenue, Dell Technologies or Microsoft?

Microsoft is bigger by revenue: $331.8B in fiscal 2026, against $113.5B for Dell Technologies in fiscal 2026.

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

Dell Technologies had a net margin of 5.2% in fiscal 2026; Microsoft had 40.3% in fiscal 2026.

Which grew revenue faster, Dell Technologies or Microsoft?

In their latest fiscal years revenue changed by +18.8% at Dell Technologies and +17.8% at Microsoft.

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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