DELL vs IBM
Dell Technologies Inc. and International Business Machines Corporation, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | DELL | IBM |
|---|---|---|
| Revenue | $113.5B | $67.5B |
| Net income | $5.9B | $10.6B |
| Gross margin | 20.0% | 58.2% |
| Net margin | 5.2% | 15.7% |
| Return on equity | 1401.3% | 35.3% |
| Diluted EPS | $8.68 | $11.17 |
| Dividend / share | $2.10 | $6.71 |
| Payout ratio | 24.6% | 59.0% |
| Free cash flow | $8.6B | $12.1B |
| Equity | $-2.5B | $32.6B |
| Net debt / equity | 9.70× | 1.46× |
| Current ratio | 0.91× | 0.96× |
| Revenue CAGR 5y | 5.5% | 4.1% |
| Profit CAGR 5y | 12.8% | 13.6% |
DELL bills 1.7× the revenue of IBM, and IBM keeps more of each dollar of revenue as profit (15.7% 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.
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Revenue by year
10 years side by side
| Fiscal year | DELL | IBM |
|---|---|---|
| FY2025 | $113.5B | $67.5B |
| FY2024 | $95.6B | $62.8B |
| FY2023 | $88.4B | $61.9B |
| FY2022 | $102.3B | $60.5B |
| FY2021 | $101.2B | $57.4B |
| FY2020 | $86.7B | $55.2B |
| FY2019 | $84.8B | $57.7B |
| FY2018 | $90.6B | $79.6B |
| FY2017 | $79.0B | $79.1B |
| FY2016 | $61.6B | $79.9B |
Net income by year
Bottom line
| Fiscal year | DELL | IBM |
|---|---|---|
| FY2025 | $5.9B | $10.6B |
| FY2024 | $4.6B | $6.0B |
| FY2023 | $3.4B | $7.5B |
| FY2022 | $2.4B | $1.6B |
| FY2021 | $5.6B | $5.7B |
| FY2020 | $3.2B | $5.6B |
| FY2019 | $4.6B | $9.4B |
| FY2018 | $-2.3B | $8.7B |
| FY2017 | $-2.8B | $5.8B |
| FY2016 | $-1.7B | $11.9B |
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More in this industry
Other pairs
The companies