DELL vs HPQ
Dell Technologies Inc. and HP Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DELL | HPQ |
|---|---|---|
| Revenue | $113.5B | $55.3B |
| Net income | $5.9B | $2.5B |
| Gross margin | 20.0% | 20.6% |
| Net margin | 5.2% | 4.6% |
| Return on equity | · | · |
| Diluted EPS | $8.68 | $2.65 |
| Dividend / share | $2.10 | $1.16 |
| Payout ratio | 24.6% | 43.0% |
| Free cash flow | $8.6B | $2.8B |
| Equity | $-2.5B | $-346.0M |
| Net debt / equity | · | · |
| Current ratio | 0.91× | 0.77× |
| Revenue CAGR 5y | 5.5% | −0.5% |
| Profit CAGR 5y | 12.8% | −2.1% |
DELL bills 2.1× the revenue of HPQ, and keeps more of each dollar of revenue as profit (5.2% against 4.6%).
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 | DELL | HPQ |
|---|---|---|
| FY2025 | $113.5B | $55.3B |
| FY2024 | $95.6B | $53.6B |
| FY2023 | $88.4B | $53.7B |
| FY2022 | $102.3B | $62.9B |
| FY2021 | $101.2B | $63.5B |
| FY2020 | $86.7B | $56.6B |
| FY2019 | $84.8B | $58.8B |
| FY2018 | $90.6B | $58.5B |
| FY2017 | $79.0B | $52.1B |
| FY2016 | $61.6B | $48.2B |
Bottom line
| Fiscal year | DELL | HPQ |
|---|---|---|
| FY2025 | $5.9B | $2.5B |
| FY2024 | $4.6B | $2.8B |
| FY2023 | $3.4B | $3.3B |
| FY2022 | $2.4B | $3.1B |
| FY2021 | $5.6B | $6.5B |
| FY2020 | $3.2B | $2.8B |
| FY2019 | $4.6B | $3.2B |
| FY2018 | $-2.3B | $5.3B |
| FY2017 | $-2.8B | $2.5B |
| FY2016 | $-1.7B | $2.5B |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$58,243,000,000 | DELL |
| FY2024 | +$42,008,000,000 | DELL |
| FY2023 | +$34,707,000,000 | DELL |
| FY2022 | +$39,391,000,000 | DELL |
| FY2021 | +$37,737,000,000 | DELL |
| FY2020 | +$30,032,000,000 | DELL |
| FY2019 | +$26,059,000,000 | DELL |
| FY2018 | +$32,149,000,000 | DELL |
| FY2017 | +$26,984,000,000 | DELL |
| FY2016 | +$13,404,000,000 | DELL |
| FY2015 | −$552,000,000 | HPQ |
| FY2014 | −$2,509,000,000 | HPQ |
The higher-revenue side has changed between DELL and HPQ over this period. 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 | +0.7 pp | DELL |
| FY2024 | −0.4 pp | HPQ |
| FY2023 | −2.3 pp | HPQ |
| FY2022 | −2.6 pp | HPQ |
| FY2021 | −4.7 pp | HPQ |
| FY2020 | −0.9 pp | HPQ |
| FY2019 | +1.2 pp | DELL |
| FY2018 | −11.5 pp | HPQ |
| FY2017 | −8.6 pp | HPQ |
| FY2016 | −8.0 pp | HPQ |
| FY2015 | −11.0 pp | HPQ |
| FY2014 | −11.1 pp | HPQ |
The higher net margin has changed hands between DELL and HPQ over this period.
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 HPQ's over the 12 comparable fiscal years — 3.7 percentage points of standard deviation against 2.0.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between DELL and HPQ over these 12 fiscal years — DELL led in 2 and HPQ in 10.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.