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Dell Technologies vs Taiwan Semiconductor Manufacturing: revenue, profit, margins and growth compared

Dell Technologies brought in $113.5B of revenue in fiscal 2026, Taiwan Semiconductor Manufacturing $88.3B in fiscal 2024. Revenue changed by +18.8% at Dell Technologies and +25.0% at Taiwan Semiconductor Manufacturing on the year before, so Taiwan Semiconductor Manufacturing grew faster. Dell Technologies kept 5.2% of its revenue as net profit, Taiwan Semiconductor Manufacturing 40.0%. Free cash flow was $8.6B at Dell Technologies and $26.5B at Taiwan Semiconductor Manufacturing.

Side by side, latest fiscal year

DELLTSM
Fiscal year endedFY2026 (January 30, 2026)FY2024 (December 31, 2024)
Revenue$113.5B$88.3B
Revenue growth+18.8%+25.0%
Net income$5.9B$35.3B
Net margin5.2%40.0%
Free cash flow$8.6B$26.5B
Free cash flow margin7.5%30.1%
Earnings per share (diluted)$8.68$1.36
Cash$11.5B$64.9B
Debt$31.5Bn/a
Price to earnings64.8n/a
Market value$364.8B$2.34T
Dividend yield0.37%n/a
Rank by revenue in sector#6 of 530 · Technology#8 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: $113.5BTSM FY2017: $33BTSM FY2018: $33.7BTSM FY2019: $35.8BTSM FY2020: $47.7BTSM FY2021: $57.2BTSM FY2022: $73.7BTSM FY2023: $70.6BTSM FY2024: $88.3BFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
DELL $113.5BTSM $88.3B
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: $5.9BTSM FY2017: $11.6BTSM FY2018: $11.9BTSM FY2019: $11.8BTSM FY2020: $18.2BTSM FY2021: $21.4BTSM FY2022: $32.3BTSM FY2023: $27.8BTSM FY2024: $35.3BFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
DELL $5.9BTSM $35.3B
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%TSM FY2017: 35.3%TSM FY2018: 35.2%TSM FY2019: 33.1%TSM FY2020: 38.1%TSM FY2021: 37.3%TSM FY2022: 43.9%TSM FY2023: 39.4%TSM FY2024: 40.0%FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
DELL 5.2%TSM 40.0%
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%TSM FY2018: +2.2%TSM FY2019: +6.2%TSM FY2020: +33.3%TSM FY2021: +20.0%TSM FY2022: +28.7%TSM FY2023: -4.2%TSM FY2024: +25.0%FY18FY19FY20FY21FY22FY23FY24FY25FY26
DELL +18.8%TSM +25.0%
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: $8.6BTSM FY2017: $8.6BTSM FY2018: $8.4BTSM FY2019: $5.2BTSM FY2020: $11.2BTSM FY2021: $9.8BTSM FY2022: $17.2BTSM FY2023: $9.5BTSM FY2024: $26.5BFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
DELL $8.6BTSM $26.5B

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

Questions about Dell Technologies and Taiwan Semiconductor Manufacturing

Which is bigger by revenue, Dell Technologies or Taiwan Semiconductor Manufacturing?

Dell Technologies is bigger by revenue: $113.5B in fiscal 2026, against $88.3B for Taiwan Semiconductor Manufacturing in fiscal 2024.

Which keeps more of its revenue as profit, Dell Technologies or Taiwan Semiconductor Manufacturing?

Dell Technologies had a net margin of 5.2% in fiscal 2026; Taiwan Semiconductor Manufacturing had 40.0% in fiscal 2024.

Which grew revenue faster, Dell Technologies or Taiwan Semiconductor Manufacturing?

In their latest fiscal years revenue changed by +18.8% at Dell Technologies and +25.0% at Taiwan Semiconductor Manufacturing.

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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