DELL Dell Technologies
too hard · 81
Owner-earnings value$161.73
Price$574.00
Margin of safety
-71.8%
Quality gate · 81/100
⚠ negative book equity
Median ROIC21.1%
Gross margin19.8%
Net debt / EBITDA1.1x
FCF conversion103%
Share count / yr-3.1%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 8.56B |
| Owner-earnings yield | 2.3% |
| Free-cash-flow yield | 2.3% |
| Growth used (normalized) | 3.5% |
| Market-implied growth (reverse DCF) | 25.0% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 11.8% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 8.86B | 3.5% | 7.93B |
| 2 | 9.17B | 3.5% | 7.34B |
| 3 | 9.48B | 3.4% | 6.79B |
| 4 | 9.80B | 3.4% | 6.28B |
| 5 | 10.13B | 3.3% | 5.81B |
| 6 | 10.45B | 3.2% | 5.37B |
| 7 | 10.79B | 3.2% | 4.95B |
| 8 | 11.12B | 3.1% | 4.57B |
| 9 | 11.46B | 3.1% | 4.21B |
| 10 | 11.81B | 3.0% | 3.88B |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~25%/yr owner-earnings growth over 10y (reverse DCF); model credits 4%.