Income Statement Snapshot

DELL INC’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.

Revenue

FY2013

45.0% CAGR

$56.9B

CAGR 45.0% (FY2009 to FY2013)

Gross Profit

FY2013

52.8% CAGR

$12.2B

CAGR 52.8% (FY2009 to FY2013)

Operating Income

FY2013

1.4% CAGR

$3B

CAGR -1.4% (FY2009 to FY2013)

Net Income

FY2013

62.9% CAGR

$2.4B

CAGR 62.9% (FY2009 to FY2013)

Metric	2013	2012	2011	2010	2009
Revenue	$56,940	$13,721	$15,365	$15,394	$12,896
Gross Profit	$12,186	$2,872	$3,469	$3,003	$2,233
Operating Income	$3,012	$4,431	$3,433	$2,172	$3,190
Net Income	$2,372	$475	$893	$822	$337
Filing	10-K	10-K	10-K	10-K	10-K

All values shown in USD millions unless noted otherwise.

Expanded Line Items

The full annual income statement layer for DELL INC.
Values are displayed in USD millions, except per-share and share-count rows.

Line Item	2013	2012	2011	2010	2009
Total Revenue	$56,940	$13,721	$15,365	$15,394	$12,896
Cost of Revenue	$44,754	$48,260	$50,098	$43,641	$50,144
Gross Profit	$12,186	$2,872	$3,469	$3,003	$2,233
Research & Development	$1,072	$856	$661	$624	$665
Selling, General & Administrative	$8,102	$8,524	$7,302	$6,465	$7,102
Operating Expenses	$9,174	$9,380	$7,963	$7,089	$7,767
Operating Income	$3,012	$4,431	$3,433	$2,172	$3,190
Interest Expense	$270	$279	$199	$160	$93
Other Non-Operating Income (Expense)	-$18	-$6	$59	$12	-$58
Income Tax Expense (Benefit)	$469	$748	$715	$591	$846
Net Income	$2,372	$475	$893	$822	$337
Basic EPS	$1.36	$0.27	$0.49	$0.42	$0.17
Diluted EPS	$1.35	$0.27	$0.49	$0.42	$0.17
Basic Average Shares	1,745.0M	1,735.0M	1,813.0M	1,939.0M	1,956.0M
Diluted Average Shares	1,755.0M	1,742.0M	1,828.0M	1,949.0M	1,966.0M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from SEC Edgar Database for DELL INC

Margins

Profitability Conversion

Track how much of revenue survives through gross profit,operating income, and net income across the annual reporting window.

Gross Margin

FY2013

vs FY2009

21.4%

Change vs FY2009: +409 bps

Operating Margin

FY2013

vs FY2009

5.3%

Change vs FY2009: -1945 bps

Net Margin

FY2013

vs FY2009

4.2%

Change vs FY2009: +155 bps

Observation Window

FY2009 to FY2013

5 years

5 Years

Profitability profile tracked across FY2009 through FY2013.

Margin Table

Side-by-side read of gross, operating, and net margin.

Margin Trends

Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

YoY Change

Annual Momentum

Compare the latest fiscal year against the immediately prior period across every headline income statement line.

Revenue YoY

FY2013 vs FY2012

YoY change

+315.0%

FY2013 versus FY2012

Gross Profit YoY

FY2013 vs FY2012

YoY change

+324.3%

FY2013 versus FY2012

Op. Income YoY

FY2013 vs FY2012

YoY change

-32.0%

FY2013 versus FY2012

Net Income YoY

FY2013 vs FY2012

YoY change

+399.4%

FY2013 versus FY2012

YoY Table

Negative values are highlighted to make slowdowns obvious.

Metric	2013	2012	2011	2010	2009
Revenue Growth %	+315.0%	-10.7%	-0.2%	+19.4%	N/A
Gross Profit Growth %	+324.3%	-17.2%	+15.5%	+34.5%	N/A
Operating Income Growth %	-32.0%	+29.1%	+58.1%	-31.9%	N/A
Net Income Growth %	+399.4%	-46.8%	+8.6%	+143.9%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum Chart

The most direct way to see whether the business is accelerating or rolling over.

YoY change compares each annual period against the immediately prior year inside the selected window.

CAGR

Through-Cycle Growth

Compounded annual growth rate from FY2009 to FY2013, useful for filtering out one-year noise.

Revenue CAGR

FY2009 to FY2013

4-yr CAGR

45.0%

Compounded annual growth across FY2009 to FY2013.

Gross Profit CAGR

FY2009 to FY2013

4-yr CAGR

52.8%

Compounded annual growth across FY2009 to FY2013.

Op. Income CAGR

FY2009 to FY2013

4-yr CAGR

-1.4%

Compounded annual growth across FY2009 to FY2013.

Net Income CAGR

FY2009 to FY2013

4-yr CAGR

62.9%

Compounded annual growth across FY2009 to FY2013.

Doing some research...

Income Statement Snapshot

DELL INC’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.

Revenue

FY2013

45.0% CAGR

$56.9B

CAGR 45.0% (FY2009 to FY2013)

Gross Profit

FY2013

52.8% CAGR

$12.2B

CAGR 52.8% (FY2009 to FY2013)

Operating Income

FY2013

1.4% CAGR

$3B

CAGR -1.4% (FY2009 to FY2013)

Net Income

FY2013

62.9% CAGR

$2.4B

CAGR 62.9% (FY2009 to FY2013)

Metric	2013	2012	2011	2010	2009
Revenue	$56,940	$13,721	$15,365	$15,394	$12,896
Gross Profit	$12,186	$2,872	$3,469	$3,003	$2,233
Operating Income	$3,012	$4,431	$3,433	$2,172	$3,190
Net Income	$2,372	$475	$893	$822	$337
Filing	10-K	10-K	10-K	10-K	10-K

All values shown in USD millions unless noted otherwise.

Expanded Line Items

The full annual income statement layer for DELL INC.
Values are displayed in USD millions, except per-share and share-count rows.

Line Item	2013	2012	2011	2010	2009
Total Revenue	$56,940	$13,721	$15,365	$15,394	$12,896
Cost of Revenue	$44,754	$48,260	$50,098	$43,641	$50,144
Gross Profit	$12,186	$2,872	$3,469	$3,003	$2,233
Research & Development	$1,072	$856	$661	$624	$665
Selling, General & Administrative	$8,102	$8,524	$7,302	$6,465	$7,102
Operating Expenses	$9,174	$9,380	$7,963	$7,089	$7,767
Operating Income	$3,012	$4,431	$3,433	$2,172	$3,190
Interest Expense	$270	$279	$199	$160	$93
Other Non-Operating Income (Expense)	-$18	-$6	$59	$12	-$58
Income Tax Expense (Benefit)	$469	$748	$715	$591	$846
Net Income	$2,372	$475	$893	$822	$337
Basic EPS	$1.36	$0.27	$0.49	$0.42	$0.17
Diluted EPS	$1.35	$0.27	$0.49	$0.42	$0.17
Basic Average Shares	1,745.0M	1,735.0M	1,813.0M	1,939.0M	1,956.0M
Diluted Average Shares	1,755.0M	1,742.0M	1,828.0M	1,949.0M	1,966.0M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from SEC Edgar Database for DELL INC

Margins

Profitability Conversion

Track how much of revenue survives through gross profit,operating income, and net income across the annual reporting window.

Gross Margin

FY2013

vs FY2009

21.4%

Change vs FY2009: +409 bps

Operating Margin

FY2013

vs FY2009

5.3%

Change vs FY2009: -1945 bps

Net Margin

FY2013

vs FY2009

4.2%

Change vs FY2009: +155 bps

Observation Window

FY2009 to FY2013

5 years

5 Years

Profitability profile tracked across FY2009 through FY2013.

Margin Table

Side-by-side read of gross, operating, and net margin.

Margin Trends

Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

YoY Change

Annual Momentum

Compare the latest fiscal year against the immediately prior period across every headline income statement line.

Revenue YoY

FY2013 vs FY2012

YoY change

+315.0%

FY2013 versus FY2012

Gross Profit YoY

FY2013 vs FY2012

YoY change

+324.3%

FY2013 versus FY2012

Op. Income YoY

FY2013 vs FY2012

YoY change

-32.0%

FY2013 versus FY2012

Net Income YoY

FY2013 vs FY2012

YoY change

+399.4%

FY2013 versus FY2012

YoY Table

Negative values are highlighted to make slowdowns obvious.

Metric	2013	2012	2011	2010	2009
Revenue Growth %	+315.0%	-10.7%	-0.2%	+19.4%	N/A
Gross Profit Growth %	+324.3%	-17.2%	+15.5%	+34.5%	N/A
Operating Income Growth %	-32.0%	+29.1%	+58.1%	-31.9%	N/A
Net Income Growth %	+399.4%	-46.8%	+8.6%	+143.9%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum Chart

The most direct way to see whether the business is accelerating or rolling over.

YoY change compares each annual period against the immediately prior year inside the selected window.

CAGR

Through-Cycle Growth

Compounded annual growth rate from FY2009 to FY2013, useful for filtering out one-year noise.

Revenue CAGR

FY2009 to FY2013

4-yr CAGR

45.0%

Compounded annual growth across FY2009 to FY2013.

Gross Profit CAGR

FY2009 to FY2013

4-yr CAGR

52.8%

Compounded annual growth across FY2009 to FY2013.

Op. Income CAGR

FY2009 to FY2013

4-yr CAGR

-1.4%

Compounded annual growth across FY2009 to FY2013.

Net Income CAGR

FY2009 to FY2013

4-yr CAGR

62.9%

Compounded annual growth across FY2009 to FY2013.

Commentary on DELL INC Performance

Commentary is being prepared and will appear soon.

This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.

Doing some research...

DELL INC Income Statement

Income Statement Snapshot

Income Statement Snapshot

Commentary on DELL INC Performance

Commentary on DELL INC Performance