Financial Statement Analysis

Ticker: DELL US Equity Periodicity: Annuals Currency: USD Note: Years shown on the report are Fiscal Years Company: Dell Technologies Inc
Filing: Most Recent

Adjusted
  Original:2016 A   Original:2017 A   Restated:2018 A   Original:2019 A   Current/LTM   Estimate:2020 A   Estimate:2021 A  
For the period ending 2016-1-29 2017-2-3 2018-2-2 2019-2-1 2019-8-2 2020-1-31 2021-1-31
Revenue 50,911.00 61,642.00 79,040.00 90,621.00 91,692.00 93,450.33 96,239.00
    + Sales & Services Revenue 50,911.00 61,642.00 79,040.00 90,621.00 91,692.00    
  - Cost of Revenue 41,996.00 46,476.00 57,066.00 64,499.00 63,805.00    
    + Cost of Goods & Services 41,996.00 46,476.00 57,066.00 64,499.00 63,805.00    
Gross Profit 8,915.00 15,166.00 21,974.00 26,122.00 27,887.00 31,387.16 32,241.03
  + Other Operating Income 0.00 0.00 0.00 0.00 0.00    
  - Operating Expenses 8,665.00 16,056.00 21,166.00 23,362.00 24,111.00    
    + Selling, General & Admin 7,850.00 13,575.00 18,569.00 20,640.00 21,384.00    
    + Research & Development 1,051.00 2,636.00 4,384.00 4,604.00 4,747.00    
    + Other Operating Expense -236.00 -155.00 -1,787.00 -1,882.00 -2,020.00    
Operating Income (Loss) 250.00 -890.00 808.00 2,760.00 3,776.00 10,057.64 10,313.09
  - Non-Operating (Income) Loss 770.00 1,771.00 2,425.00 2,512.00 2,806.00    
    + Interest Expense 680.00 1,751.00 2,406.00 2,488.00 2,661.00    
    + Other Investment (Inc) Loss 39.00 102.00 207.00 313.00 -20.00    
    + Foreign Exch (Gain) Loss 107.00 77.00 113.00 206.00 175.00    
    + Other Non-Op (Income) -56.00 -159.00 -301.00 -495.00 -10.00    
Loss
Pretax Income (Loss), Adjusted -520.00 -2,661.00 -1,617.00 248.00 970.00 7,124.75 7,671.83
  - Abnormal Losses (Gains) 766.00 2,695.00 3,152.00 2,609.00 2,494.00    
    + Merger/Acquisition Expense 83.00 1,485.00 502.00 824.00 745.00    
    + Early Extinguishment of   337.00          
Debt
    + Asset Write-Down 604.00 2,294.00 1,546.00 820.00      
    + Gain/Loss on Sale/   -2,319.00 16.00 -30.00      
Acquisition of Business
    + Sale of Investments 2.00 -4.00 -72.00 -342.00 -238.00    
    + Other Abnormal Items 77.00 902.00 1,160.00 1,337.00 1,529.00    
Pretax Income (Loss), GAAP -1,286.00 -5,356.00 -4,769.00 -2,361.00 -1,524.00 7,124.75 7,671.83
  - Income Tax Expense (Benefit) -118.00 -1,619.00 -1,843.00 -180.00 -4,903.00    
Income (Loss) from Cont Ops -1,168.00 -3,737.00 -2,926.00 -2,181.00 3,379.00 3,911.80 2,059.40
  - Net Extraordinary Losses -64.00 -2,019.00 0.00 0.00 0.00    
(Gains)
    + Discontinued Operations -64.00 -2,019.00 0.00 0.00 0.00    
    + XO & Accounting Changes 0.00 0.00 0.00 0.00 0.00    
Income (Loss) Incl. MI -1,104.00 -1,718.00 -2,926.00 -2,181.00 3,379.00    
  - Minority Interest 0.00 -46.00 -77.00 129.00 845.00    
Net Income, GAAP -1,104.00 -1,672.00 -2,849.00 -2,310.00 2,534.00 3,911.80 2,059.40
  - Preferred Dividends 0.00 0.00 0.00 0.00 0.00    
  - Other Adjustments 0.00 0.00 0.00 0.00 0.00    
Net Income Avail to Common, -1,104.00 -1,672.00 -2,849.00 -2,310.00 2,534.00 3,911.80 2,059.40
GAAP
               
Net Income Avail to Common, -545.83 -1,385.78 -577.17 -87.84 398.61 5,253.14 5,396.43
Adj
  Net Abnormal Losses (Gains) 622.17 2,305.22 2,271.83 2,222.16 -2,135.39    
  Net Extraordinary Losses -64.00 -2,019.00 0.00 0.00 0.00    
(Gains)
               
Basic Weighted Avg Shares 405.00 470.00 567.00 582.00 719.00    
Basic EPS, GAAP -2.73 -3.56 -5.02 -3.97 2.84 6.15 0.86
Basic EPS from Cont Ops -2.88 -7.85 -5.02 -3.97 2.84 6.15 0.86
Basic EPS from Cont Ops, -1.35 -2.95 -1.02 -0.15 0.57 7.23 7.41
Adjusted

This report may not be modified or altered in any way. The BLOOMBERG PROFESSIONAL service and BLOOMBERG Data are owned and distributed locally by Bloomberg Finance LP (“BFLP”) and its subsidiaries in all jurisdictions other than Argentina, Bermuda, China, India, Japan and Korea (the (“BFLP
Countries”). BFLP is a wholly-owned subsidiary of Bloomberg LP (“BLP”). BLP provides BFLP with all the global marketing and operational support and service for the Services and distributes the Services either directly or through a non-BFLP subsidiary in the BLP Countries. BFLP, BLP and their affiliates
do not provide investment advice, and nothing herein shall constitute an offer of financial instruments by BFLP, BLP or their affiliates.

Bloomberg ®              09/17/2019 08:22:08 1     

 Financial Statement Analysis
Ticker: DELL US Equity Periodicity: Annuals Currency: USD Note: Years shown on the report are Fiscal Years Company: Dell Technologies Inc
Filing: Most Recent
  Original:2016 A   Original:2017 A   Restated:2018 A   Original:2019 A   Current/LTM   Estimate:2020 A   Estimate:2021 A  
For the period ending 2016-1-29 2017-2-3 2018-2-2 2019-2-1 2019-8-2 2020-1-31 2021-1-31
               
Diluted Weighted Avg Shares 405.00 470.00 567.00 582.00 751.00    
Diluted EPS, GAAP -2.73 -3.56 -5.02 -3.97 2.53 6.15 0.86
Diluted EPS from Cont Ops -2.88 -7.85 -5.02 -3.97 2.53 6.15 0.86
Diluted EPS from Cont Ops, -1.35 -2.95 -1.02 -0.15 0.18 7.23 7.41
Adjusted
               
Reference Items              
Accounting Standard US GAAP US GAAP US GAAP US GAAP      
EBITDA 3,122.00 4,048.00 9,442.00 10,506.00 11,034.00 11,863.17 12,043.88
EBITDA Margin (T12M) 6.13 6.57 11.95 11.59 12.03 12.69 12.51
EBITA 2,250.00 2,810.00 7,808.00 8,860.00 6,736.00    
EBIT 250.00 -890.00 808.00 2,760.00 3,776.00 10,057.64 10,313.09
Gross Margin 17.51 24.60 27.80 28.83 30.41 33.59 33.50
Operating Margin 0.49 -1.44 1.02 3.05 4.12 10.76 10.72
Profit Margin -1.07 -2.25 -0.73 -0.10 0.43 5.62 5.61
Sales per Employee 368,920.29 446,681.16 545,103.45 577,203.82      
Dividends per Share 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Cash Common Dividends 0.00 0.00 0.00 0.00 0.00    
Depreciation Expense 872.00 1,238.00 1,634.00 1,646.00 4,298.00    
Rental Expense 91.00 279.00 571.00 457.00 167.00    

This report may not be modified or altered in any way. The BLOOMBERG PROFESSIONAL service and BLOOMBERG Data are owned and distributed locally by Bloomberg Finance LP (“BFLP”) and its subsidiaries in all jurisdictions other than Argentina, Bermuda, China, India, Japan and Korea (the (“BFLP
Countries”). BFLP is a wholly-owned subsidiary of Bloomberg LP (“BLP”). BLP provides BFLP with all the global marketing and operational support and service for the Services and distributes the Services either directly or through a non-BFLP subsidiary in the BLP Countries. BFLP, BLP and their affiliates
do not provide investment advice, and nothing herein shall constitute an offer of financial instruments by BFLP, BLP or their affiliates.

Bloomberg ®              09/17/2019 08:22:08 2