How do Dell Technologies and Qualcomm compare by revenue?

Dell Technologies reported revenue of $27.0B in Q3 FY2026, while Qualcomm reported $10.6B in Q2 FY2026. Dell Technologies is 2.5× larger by last-quarter revenue.

Which is growing revenue faster, Dell Technologies or Qualcomm?

Dell Technologies's latest revenue grew 10.8% year-over-year, versus -3.5% for Qualcomm. Dell Technologies is growing faster on a YoY basis.

Which has a higher gross margin, Dell Technologies or Qualcomm?

Dell Technologies's gross margin is 20.7% vs Qualcomm's 53.8%. Qualcomm converts more of each revenue dollar into gross profit.

Which has a higher net margin, Dell Technologies or Qualcomm?

Dell Technologies's net margin is 5.7% vs Qualcomm's 69.5%. Qualcomm has the higher bottom-line margin.

What is the 2-year revenue CAGR for Dell Technologies vs Qualcomm?

Over the trailing 8 quarters, Dell Technologies compounded revenue at roughly 8.5% per year, versus 6.2% for Qualcomm. Dell Technologies has the faster medium-term growth trajectory.

Where does this DELL vs QCOM data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Dell Technologies (DELL) and Qualcomm (QCOM). Click either name above to swap in a different company.

Dell Technologies is the larger business by last-quarter revenue ($27.0B vs $10.6B, roughly 2.5× Qualcomm). Qualcomm runs the higher net margin — 69.5% vs 5.7%, a 63.8% gap on every dollar of revenue. On growth, Dell Technologies posted the faster year-over-year revenue change (10.8% vs -3.5%). Over the past eight quarters, Dell Technologies's revenue compounded faster (8.5% CAGR vs 6.2%).

Dell TechnologiesDELLEarnings & Financial Report

NYSE · Information Technology · Technology Hardware, Storage & Peripherals

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.

QualcommQCOMEarnings & Financial Report

Nasdaq · Information Technology · Semiconductors

Qualcomm Incorporated is an American multinational corporation headquartered in San Diego, California, and incorporated in Delaware. It creates semiconductors, software and services related to wireless technology. It owns patents critical to the 5G, 4G, CDMA2000, TD-SCDMA and WCDMA mobile communications standards.

DELL vs QCOM — Head-to-Head

Bigger by revenue

DELL

2.5× larger

$27.0B

$10.6B

Growing faster (revenue YoY)

DELL

+14.3% gap

10.8%

-3.5%

Higher net margin

QCOM

63.8% more per $

69.5%

5.7%

Faster 2-yr revenue CAGR

DELL

Annualised

8.5%

6.2%

Income Statement — Q3 FY2026 vs Q2 FY2026

Metric	DELL	QCOM
Revenue	$27.0B	$10.6B
Net Profit	$1.5B	$7.4B
Gross Margin	20.7%	53.8%
Operating Margin	7.8%	21.8%
Net Margin	5.7%	69.5%
Revenue YoY	10.8%	-3.5%
Net Profit YoY	36.7%	—
EPS (diluted)	$2.28	$6.88

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.

Revenue

DELL

QCOM

Q1 26	—	$10.6B
Q4 25	$27.0B	$12.3B
Q3 25	—	$11.3B
Q2 25	$23.4B	$10.4B
Q1 25	—	$11.0B
Q4 24	$24.4B	$11.7B
Q3 24	$25.0B	$10.2B
Q2 24	$22.2B	$9.4B

Net Profit

DELL

QCOM

Q1 26	—	$7.4B
Q4 25	$1.5B	$3.0B
Q3 25	—	$-3.1B
Q2 25	$965.0M	$2.7B
Q1 25	—	$2.8B
Q4 24	$1.1B	$3.2B
Q3 24	$846.0M	$2.9B
Q2 24	$960.0M	$2.1B

Gross Margin

DELL

QCOM

Q1 26	—	53.8%
Q4 25	20.7%	54.6%
Q3 25	—	55.3%
Q2 25	21.1%	55.6%
Q1 25	—	55.0%
Q4 24	21.8%	55.8%
Q3 24	21.2%	56.4%
Q2 24	21.6%	55.6%

Operating Margin

DELL

QCOM

Q1 26	—	21.8%
Q4 25	7.8%	27.5%
Q3 25	—	25.9%
Q2 25	5.0%	26.6%
Q1 25	—	28.4%
Q4 24	6.8%	30.5%
Q3 24	5.4%	25.2%
Q2 24	4.1%	23.6%

Net Margin

DELL

QCOM

Q1 26	—	69.5%
Q4 25	5.7%	24.5%
Q3 25	—	-27.7%
Q2 25	4.1%	25.7%
Q1 25	—	25.6%
Q4 24	4.6%	27.3%
Q3 24	3.4%	28.5%
Q2 24	4.3%	22.7%

EPS (diluted)

DELL

QCOM

Q1 26	—	$6.88
Q4 25	$2.28	$2.78
Q3 25	—	$-2.77
Q2 25	$1.37	$2.43
Q1 25	—	$2.52
Q4 24	$1.58	$2.83
Q3 24	$1.17	$2.57
Q2 24	$1.32	$1.88

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	DELL	QCOM
Cash + ST InvestmentsLiquidity on hand	$9.6B	$5.4B
Total DebtLower is stronger	$31.2B	$15.3B
Stockholders' EquityBook value	$-2.6B	$27.3B
Total Assets	$87.5B	$57.1B
Debt / EquityLower = less leverage	—	0.56×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

DELL

QCOM

Q1 26	—	$5.4B
Q4 25	$9.6B	$11.8B
Q3 25	—	$10.2B
Q2 25	$7.7B	$10.0B
Q1 25	—	$13.8B
Q4 24	$5.2B	$14.3B
Q3 24	$4.5B	$13.3B
Q2 24	$5.8B	$13.0B

Total Debt

DELL

QCOM

Q1 26	—	$15.3B
Q4 25	$31.2B	$14.8B
Q3 25	—	$14.8B
Q2 25	$28.8B	$14.8B
Q1 25	—	$13.3B
Q4 24	$25.0B	$13.2B
Q3 24	$24.5B	$13.3B
Q2 24	$25.5B	$13.2B

Stockholders' Equity

DELL

QCOM

Q1 26	—	$27.3B
Q4 25	$-2.6B	$23.1B
Q3 25	—	$21.2B
Q2 25	$-3.0B	$27.2B
Q1 25	—	$27.7B
Q4 24	$-2.3B	$26.9B
Q3 24	$-2.9B	$26.3B
Q2 24	$-2.8B	$24.7B

Total Assets

DELL

QCOM

Q1 26	—	$57.1B
Q4 25	$87.5B	$53.0B
Q3 25	—	$50.1B
Q2 25	$86.9B	$54.9B
Q1 25	—	$55.4B
Q4 24	$82.0B	$55.6B
Q3 24	$82.7B	$55.2B
Q2 24	$80.2B	$52.7B

Debt / Equity

DELL

QCOM

Q1 26	—	0.56×
Q4 25	—	0.64×
Q3 25	—	0.70×
Q2 25	—	0.54×
Q1 25	—	0.48×
Q4 24	—	0.49×
Q3 24	—	0.51×
Q2 24	—	0.53×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	DELL	QCOM
Operating Cash FlowLast quarter	$1.2B	$7.4B
Free Cash FlowOCF − Capex	$503.0M	—
FCF MarginFCF / Revenue	1.9%	—
Capex IntensityCapex / Revenue	2.5%	10.2%
Cash ConversionOCF / Net Profit	0.76×	1.01×
TTM Free Cash FlowTrailing 4 quarters	$4.3B	—