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Dell Technologies vs HP: DELL and HPQ compared
Dell Technologies is the larger company: $47.0B of revenue in its latest quarter (Q2 FY27) against $15.7B for HP (Q3 FY26). Dell Technologies is growing faster (+58% against +12% a year earlier). Dell Technologies is more profitable, with an operating margin of 11.5% against 5.7%.
Where the money goes: DELL and HPQ
Dell Technologies (DELL) · Q2 FY27
Dell Technologies, Q2 FY27: revenue $47.0B (+58% year over year), operating margin 11.5%, net earnings $4.1B, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
HP (HPQ) · Q3 FY26
HP, Q3 FY26: revenue $15.7B (+12% year over year), operating margin 5.7%, net earnings $661M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Dell Technologies (DELL) | HP (HPQ) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 FY26 |
| Revenue | $47.0B | $15.7B |
| Revenue growth, Y/Y | +58% | +12% |
| Gross margin | 20.9% | 18.8% |
| Operating margin | 11.5% | 5.7% |
| Net earnings | $4.1B | $661M |
| Net margin | 8.8% | 4.2% |
| Operating cash flow | $2.2B | $1.7B |
| Free cash flow | $986M | $1.5B |
| Market value | $206.6B | $26.4B |
| P/E | 18.2× | 10.8× |
| Analysts’ mean target | $590.00 | $27.44 |
Where the revenue comes from
Dell Technologies
- Products: $41.1B (88%)
- Services: $5.9B (12%)
HP
- Products: $14.8B (95%)
- Services: $852M (5%)
Questions
Which is bigger, Dell Technologies or HP?
Dell Technologies is the larger company: $47.0B of revenue in its latest quarter (Q2 FY27) against $15.7B for HP (Q3 FY26).
Is Dell Technologies or HP growing faster?
Dell Technologies is growing faster (+58% against +12% a year earlier).
Which is more profitable, Dell Technologies or HP?
Dell Technologies is more profitable, with an operating margin of 11.5% against 5.7%.
More: Dell Technologies earnings · how Dell Technologies makes money · HP earnings · how HP makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 8, 2026; 10-Q filed Aug 27, 2026). Fiscal quarters can end on different dates. Not investment advice.