AAPL vs DELL
Apple Inc. and Dell Technologies Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AAPL | DELL |
|---|---|---|
| Revenue | $416.2B | $113.5B |
| Net income | $112.0B | $5.9B |
| Gross margin | 46.9% | 20.0% |
| Net margin | 26.9% | 5.2% |
| Return on equity | 171.4% | · |
| Diluted EPS | $7.46 | $8.68 |
| Dividend / share | $1.02 | $2.10 |
| Payout ratio | 13.8% | 24.6% |
| Free cash flow | $98.8B | $8.6B |
| Equity | $73.7B | $-2.5B |
| Net debt / equity | 0.74× | · |
| Current ratio | 0.89× | 0.91× |
| Revenue CAGR 5y | 8.7% | 5.5% |
| Profit CAGR 5y | 14.3% | 12.8% |
AAPL bills 3.7× the revenue of DELL, and keeps more of each dollar of revenue as profit (26.9% against 5.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | AAPL | DELL |
|---|---|---|
| FY2025 | $416.2B | $113.5B |
| FY2024 | $391.0B | $95.6B |
| FY2023 | $383.3B | $88.4B |
| FY2022 | $394.3B | $102.3B |
| FY2021 | $365.8B | $101.2B |
| FY2020 | $274.5B | $86.7B |
| FY2019 | $260.2B | $84.8B |
| FY2018 | $265.6B | $90.6B |
| FY2017 | $229.2B | $79.0B |
| FY2016 | $215.6B | $61.6B |
Bottom line
| Fiscal year | AAPL | DELL |
|---|---|---|
| FY2025 | $112.0B | $5.9B |
| FY2024 | $93.7B | $4.6B |
| FY2023 | $97.0B | $3.4B |
| FY2022 | $99.8B | $2.4B |
| FY2021 | $94.7B | $5.6B |
| FY2020 | $57.4B | $3.2B |
| FY2019 | $55.3B | $4.6B |
| FY2018 | $59.5B | $-2.3B |
| FY2017 | $48.4B | $-2.8B |
| FY2016 | $45.7B | $-1.7B |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$302,623,000,000 | AAPL |
| FY2024 | +$295,468,000,000 | AAPL |
| FY2023 | +$294,860,000,000 | AAPL |
| FY2022 | +$292,027,000,000 | AAPL |
| FY2021 | +$264,620,000,000 | AAPL |
| FY2020 | +$187,845,000,000 | AAPL |
| FY2019 | +$175,359,000,000 | AAPL |
| FY2018 | +$174,974,000,000 | AAPL |
| FY2017 | +$150,194,000,000 | AAPL |
| FY2016 | +$153,997,000,000 | AAPL |
| FY2015 | +$182,804,000,000 | AAPL |
| FY2014 | +$128,653,000,000 | AAPL |
AAPL has reported the higher revenue in every one of these 12 fiscal years. The gap has widened since the earliest year compared.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +21.7 pp | AAPL |
| FY2024 | +19.2 pp | AAPL |
| FY2023 | +21.5 pp | AAPL |
| FY2022 | +22.9 pp | AAPL |
| FY2021 | +20.2 pp | AAPL |
| FY2020 | +16.9 pp | AAPL |
| FY2019 | +14.7 pp | AAPL |
| FY2018 | +24.8 pp | AAPL |
| FY2017 | +24.8 pp | AAPL |
| FY2016 | +24.0 pp | AAPL |
| FY2015 | +25.0 pp | AAPL |
| FY2014 | +23.9 pp | AAPL |
AAPL has kept the higher net margin in every one of these 12 fiscal years.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DELL's net margin has been more volatile than AAPL's over the 12 comparable fiscal years — 3.7 percentage points of standard deviation against 2.1.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
AAPL led in net margin in every one of the 12 comparable fiscal years — a structural lead, not a recent swing.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DELL's return on equity has been more volatile than AAPL's over the 4 comparable fiscal years — 11.6 percentage points of standard deviation against 4.7.
4 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
AAPL led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 19 comparable fiscal years — a year missing data on either side is not counted.