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Side-by-side financial comparison of Dell Technologies (DELL) and T-Mobile US (TMUS). Click either name above to swap in a different company.
Dell Technologies is the larger business by last-quarter revenue ($27.0B vs $23.1B, roughly 1.2× T-Mobile US). T-Mobile US runs the higher net margin — 10.8% vs 5.7%, a 5.1% gap on every dollar of revenue. On growth, Dell Technologies posted the faster year-over-year revenue change (10.8% vs 10.6%). T-Mobile US produced more free cash flow last quarter ($4.6B vs $503.0M). Over the past eight quarters, Dell Technologies's revenue compounded faster (8.5% CAGR vs 8.1%).
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.
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its majority shareholder and namesake is the German telecommunications company Deutsche Telekom. T-Mobile is the second largest wireless carrier in the United States, with 140 million subscribers as of September 30, 2025.
DELL vs TMUS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $27.0B | $23.1B |
| Net Profit | $1.5B | $2.5B |
| Gross Margin | 20.7% | — |
| Operating Margin | 7.8% | 20.8% |
| Net Margin | 5.7% | 10.8% |
| Revenue YoY | 10.8% | 10.6% |
| Net Profit YoY | 36.7% | -15.2% |
| EPS (diluted) | $2.28 | $2.27 |
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.
| Q1 26 | — | $23.1B | ||
| Q4 25 | $27.0B | $24.3B | ||
| Q3 25 | — | $22.0B | ||
| Q2 25 | $23.4B | $21.1B | ||
| Q1 25 | — | $20.9B | ||
| Q4 24 | $24.4B | $21.9B | ||
| Q3 24 | $25.0B | $20.2B | ||
| Q2 24 | $22.2B | $19.8B |
| Q1 26 | — | $2.5B | ||
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | $965.0M | $3.2B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $1.1B | $3.0B | ||
| Q3 24 | $846.0M | $3.1B | ||
| Q2 24 | $960.0M | $2.9B |
| Q1 26 | — | — | ||
| 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 26 | — | 20.8% | ||
| Q4 25 | 7.8% | 15.4% | ||
| Q3 25 | — | 20.6% | ||
| Q2 25 | 5.0% | 24.7% | ||
| Q1 25 | — | 23.0% | ||
| Q4 24 | 6.8% | 21.0% | ||
| Q3 24 | 5.4% | 23.8% | ||
| Q2 24 | 4.1% | 23.4% |
| Q1 26 | — | 10.8% | ||
| Q4 25 | 5.7% | 8.6% | ||
| Q3 25 | — | 12.4% | ||
| Q2 25 | 4.1% | 15.2% | ||
| Q1 25 | — | 14.1% | ||
| Q4 24 | 4.6% | 13.6% | ||
| Q3 24 | 3.4% | 15.2% | ||
| Q2 24 | 4.3% | 14.8% |
| Q1 26 | — | $2.27 | ||
| Q4 25 | $2.28 | $1.89 | ||
| Q3 25 | — | $2.41 | ||
| Q2 25 | $1.37 | $2.84 | ||
| Q1 25 | — | $2.58 | ||
| Q4 24 | $1.58 | $2.56 | ||
| Q3 24 | $1.17 | $2.61 | ||
| Q2 24 | $1.32 | $2.49 |
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 | $3.5B |
| Total DebtLower is stronger | $31.2B | $86.0B |
| Stockholders' EquityBook value | $-2.6B | $55.9B |
| Total Assets | $87.5B | $214.7B |
| Debt / EquityLower = less leverage | — | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.5B | ||
| Q4 25 | $9.6B | $5.6B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | $7.7B | $10.3B | ||
| Q1 25 | — | $12.0B | ||
| Q4 24 | $5.2B | $5.4B | ||
| Q3 24 | $4.5B | $9.8B | ||
| Q2 24 | $5.8B | $6.4B |
| Q1 26 | — | $86.0B | ||
| Q4 25 | $31.2B | $86.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | $28.8B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $25.0B | $78.3B | ||
| Q3 24 | $24.5B | — | ||
| Q2 24 | $25.5B | — |
| Q1 26 | — | $55.9B | ||
| Q4 25 | $-2.6B | $59.2B | ||
| Q3 25 | — | $60.5B | ||
| Q2 25 | $-3.0B | $61.1B | ||
| Q1 25 | — | $61.1B | ||
| Q4 24 | $-2.3B | $61.7B | ||
| Q3 24 | $-2.9B | $64.3B | ||
| Q2 24 | $-2.8B | $62.6B |
| Q1 26 | — | $214.7B | ||
| Q4 25 | $87.5B | $219.2B | ||
| Q3 25 | — | $217.2B | ||
| Q2 25 | $86.9B | $212.6B | ||
| Q1 25 | — | $214.6B | ||
| Q4 24 | $82.0B | $208.0B | ||
| Q3 24 | $82.7B | $210.7B | ||
| Q2 24 | $80.2B | $208.6B |
| Q1 26 | — | 1.54× | ||
| Q4 25 | — | 1.46× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | — | ||
| Q2 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 | $7.2B |
| Free Cash FlowOCF − Capex | $503.0M | $4.6B |
| FCF MarginFCF / Revenue | 1.9% | 19.9% |
| Capex IntensityCapex / Revenue | 2.5% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.76× | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $18.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $7.2B | ||
| Q4 25 | $1.2B | $6.7B | ||
| Q3 25 | — | $7.5B | ||
| Q2 25 | $2.8B | $7.0B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | $1.6B | $5.5B | ||
| Q3 24 | $1.3B | $6.1B | ||
| Q2 24 | $1.0B | $5.5B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $503.0M | $4.2B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | $2.2B | $4.6B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | $914.0M | $3.3B | ||
| Q3 24 | $658.0M | $4.2B | ||
| Q2 24 | $447.0M | $3.5B |
| Q1 26 | — | 19.9% | ||
| Q4 25 | 1.9% | 17.2% | ||
| Q3 25 | — | 21.9% | ||
| Q2 25 | 9.5% | 21.7% | ||
| Q1 25 | — | 21.0% | ||
| Q4 24 | 3.8% | 15.3% | ||
| Q3 24 | 2.6% | 20.7% | ||
| Q2 24 | 2.0% | 17.6% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 2.5% | 10.1% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | 2.4% | 11.3% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | 2.6% | 10.1% | ||
| Q3 24 | 2.7% | 9.7% | ||
| Q2 24 | 2.7% | 10.3% |
| Q1 26 | — | 2.88× | ||
| Q4 25 | 0.76× | 3.16× | ||
| Q3 25 | — | 2.75× | ||
| Q2 25 | 2.90× | 2.17× | ||
| Q1 25 | — | 2.32× | ||
| Q4 24 | 1.37× | 1.86× | ||
| Q3 24 | 1.58× | 2.01× | ||
| Q2 24 | 1.09× | 1.89× |
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% |
TMUS
| Postpaid service revenues | $15.6B | 68% |
| Other | $7.5B | 32% |
