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Side-by-side financial comparison of Dell Technologies (DELL) and General Dynamics (GD). Click either name above to swap in a different company.
Dell Technologies is the larger business by last-quarter revenue ($27.0B vs $14.4B, roughly 1.9× General Dynamics). General Dynamics runs the higher net margin — 7.9% vs 5.7%, a 2.2% gap on every dollar of revenue. On growth, Dell Technologies posted the faster year-over-year revenue change (10.8% vs 7.8%). General Dynamics produced more free cash flow last quarter ($952.0M vs $503.0M). Over the past eight quarters, General Dynamics's revenue compounded faster (15.8% CAGR vs 8.5%).
Dell Technologies Inc. is an American multinational technology company that has been headquartered in Round Rock, Texas since 1994. It was formed as a result of the September 2016 merger of Dell and EMC Corporation.
General Dynamics Corporation (GD) is an American industrial and technology company based in Reston, Virginia. It is primarily a developer and producer of advanced military equipment of a wide variety, such as nuclear submarines, main battle tanks, and armoured fighting vehicles. It is also the manufacturer of the civilian aviation Gulfstream business jets and a provider of information technology services. The company is the 3rd largest of the top 100 contractors of the U.S.
DELL vs GD — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $27.0B | $14.4B |
| Net Profit | $1.5B | $1.1B |
| Gross Margin | 20.7% | — |
| Operating Margin | 7.8% | 10.1% |
| Net Margin | 5.7% | 7.9% |
| Revenue YoY | 10.8% | 7.8% |
| Net Profit YoY | 36.7% | -0.4% |
| EPS (diluted) | $2.28 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $27.0B | $14.4B | ||
| Q3 25 | — | $12.9B | ||
| Q2 25 | $23.4B | $13.0B | ||
| Q1 25 | — | $12.2B | ||
| Q4 24 | $24.4B | $13.3B | ||
| Q3 24 | $25.0B | $11.7B | ||
| Q2 24 | $22.2B | $12.0B | ||
| Q1 24 | $22.3B | $10.7B |
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $965.0M | $1.0B | ||
| Q1 25 | — | $994.0M | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $846.0M | $930.0M | ||
| Q2 24 | $960.0M | $905.0M | ||
| Q1 24 | $1.2B | $799.0M |
| Q4 25 | 20.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | 21.2% | — | ||
| Q2 24 | 21.6% | — | ||
| Q1 24 | 23.8% | — |
| Q4 25 | 7.8% | 10.1% | ||
| Q3 25 | — | 10.3% | ||
| Q2 25 | 5.0% | 10.0% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | 6.8% | 10.7% | ||
| Q3 24 | 5.4% | 10.1% | ||
| Q2 24 | 4.1% | 9.7% | ||
| Q1 24 | 6.7% | 9.7% |
| Q4 25 | 5.7% | 7.9% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | 4.1% | 7.8% | ||
| Q1 25 | — | 8.1% | ||
| Q4 24 | 4.6% | 8.6% | ||
| Q3 24 | 3.4% | 8.0% | ||
| Q2 24 | 4.3% | 7.6% | ||
| Q1 24 | 5.2% | 7.4% |
| Q4 25 | $2.28 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $1.37 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.58 | — | ||
| Q3 24 | $1.17 | — | ||
| Q2 24 | $1.32 | — | ||
| Q1 24 | $1.82 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $9.6B | $2.3B |
| Total DebtLower is stronger | $31.2B | $8.1B |
| Stockholders' EquityBook value | $-2.6B | $25.6B |
| Total Assets | $87.5B | $57.2B |
| Debt / EquityLower = less leverage | — | 0.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.6B | $2.3B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | $7.7B | $1.5B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $5.2B | $1.7B | ||
| Q3 24 | $4.5B | $2.1B | ||
| Q2 24 | $5.8B | $1.4B | ||
| Q1 24 | $7.4B | $1.0B |
| Q4 25 | $31.2B | $8.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | $28.8B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $25.0B | $8.8B | ||
| Q3 24 | $24.5B | — | ||
| Q2 24 | $25.5B | — | ||
| Q1 24 | $26.0B | — |
| Q4 25 | $-2.6B | $25.6B | ||
| Q3 25 | — | $24.4B | ||
| Q2 25 | $-3.0B | $23.6B | ||
| Q1 25 | — | $22.2B | ||
| Q4 24 | $-2.3B | $22.1B | ||
| Q3 24 | $-2.9B | $23.0B | ||
| Q2 24 | $-2.8B | $22.0B | ||
| Q1 24 | $-2.4B | $21.4B |
| Q4 25 | $87.5B | $57.2B | ||
| Q3 25 | — | $57.6B | ||
| Q2 25 | $86.9B | $56.9B | ||
| Q1 25 | — | $56.6B | ||
| Q4 24 | $82.0B | $55.9B | ||
| Q3 24 | $82.7B | $57.3B | ||
| Q2 24 | $80.2B | $55.4B | ||
| Q1 24 | $82.1B | $55.2B |
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.40× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.2B | $1.6B |
| Free Cash FlowOCF − Capex | $503.0M | $952.0M |
| FCF MarginFCF / Revenue | 1.9% | 6.6% |
| Capex IntensityCapex / Revenue | 2.5% | 4.2% |
| Cash ConversionOCF / Net Profit | 0.76× | 1.37× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $4.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | $2.8B | $1.6B | ||
| Q1 25 | — | $-148.0M | ||
| Q4 24 | $1.6B | $2.2B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.0B | $814.0M | ||
| Q1 24 | $1.5B | $-278.0M |
| Q4 25 | $503.0M | $952.0M | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | — | $-290.0M | ||
| Q4 24 | $914.0M | $1.8B | ||
| Q3 24 | $658.0M | $1.2B | ||
| Q2 24 | $447.0M | $613.0M | ||
| Q1 24 | $806.0M | $-437.0M |
| Q4 25 | 1.9% | 6.6% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | 9.5% | 10.7% | ||
| Q1 25 | — | -2.4% | ||
| Q4 24 | 3.8% | 13.5% | ||
| Q3 24 | 2.6% | 10.4% | ||
| Q2 24 | 2.0% | 5.1% | ||
| Q1 24 | 3.6% | -4.1% |
| Q4 25 | 2.5% | 4.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | 2.4% | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | 2.6% | 2.7% | ||
| Q3 24 | 2.7% | 1.7% | ||
| Q2 24 | 2.7% | 1.7% | ||
| Q1 24 | 3.3% | 1.5% |
| Q4 25 | 0.76× | 1.37× | ||
| Q3 25 | — | 1.99× | ||
| Q2 25 | 2.90× | 1.58× | ||
| Q1 25 | — | -0.15× | ||
| Q4 24 | 1.37× | 1.88× | ||
| Q3 24 | 1.58× | 1.52× | ||
| Q2 24 | 1.09× | 0.90× | ||
| Q1 24 | 1.32× | -0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DELL
| Products | $21.3B | 79% |
| Storage | $4.0B | 15% |
| Consumer | $1.9B | 7% |
GD
| Aerospace | $3.8B | 26% |
| Cost Reimbursement | $2.5B | 17% |
| Information Technology Services | $2.1B | 15% |
| Militaryvehicles | $1.2B | 9% |
| C5ISR Solutions | $1.1B | 8% |
| Aircraft Services | $965.0M | 7% |
| Weapons Systemsand Munitions | $935.0M | 7% |
| Surfaceships | $920.0M | 6% |
| Engineeringand Other Services | $360.0M | 3% |
| Repairand Other Services | $344.0M | 2% |
| Contracts Accounted For Under Percentage Of Completion | $88.0M | 1% |
