DELL vs STX: Dell Technologies and Seagate Technology compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Dell Technologies is the larger company, worth $371.2B, about 2.3 times Seagate Technology.
- Dell Technologies grew revenue faster over the last year (+57.8% vs +48.5%).
- Seagate Technology keeps more of each dollar of revenue as operating profit (33.6% vs 9.4%).
- On earnings, Dell Technologies is the cheaper stock (65.7x vs 68.5x).
- Seagate Technology's price assumes faster free cash flow growth: about 18% a year, against 15% for Dell Technologies (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DELL | STX |
|---|---|---|
| Market cap | $371.2B | $161.3B |
| Share price | $586.06 | $783.00 |
| Revenue (last fiscal year) | $113.5B | $12.2B |
| Free cash flow (last fiscal year) | $8.6B | $3.1B |
| Revenue growth, last year | +57.8% | +48.5% |
| Revenue growth per year, last 5 fiscal years | +2.9% | +1.1% |
| Operating margin | 9.4% | 33.6% |
| Net margin | 7.5% | 26.1% |
| Return on equity | — | 146.9% |
| P/E (trailing) | 65.7x | 68.5x |
| Price / free cash flow | 43.4x | 197.2x |
| EV / EBITDA | 22.0x | 37.7x |
| FCF growth the price implies | 15.1% | 17.5% |
| Dividend yield | 0.36% | 0.42% |
| Debt / equity | — | 3.60x |
| Fundamental grade | C | B |
| Superinvestors holding it | 6 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Dell Technologies
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $101.2B | $7.5B | 4.6% |
| 2023 | $102.3B | $562M | 5.6% |
| 2024 | $88.4B | $5.9B | 6.1% |
| 2025 | $95.6B | $1.9B | 6.5% |
| 2026 | $113.5B | $8.6B | 7.2% |
Seagate Technology
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $11.7B | $1.3B | 16.8% |
| 2023 | $7.4B | $626M | -4.6% |
| 2024 | $6.6B | $664M | 6.9% |
| 2025 | $9.1B | $818M | 20.8% |
| 2026 | $12.2B | $3.1B | 33.6% |
Where the revenue comes from
Dell Technologies · by segments, 2026
Infrastructure Solutions Group$60.8B54%
Client Solutions Group$51.0B46%
Seagate Technology · by regions, 2026
United States$6.1B50%
Singapore$4.9B40%
The Netherlands$1.2B10%
Other$4M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DELL in InvestinglyQuestions
Which is bigger, Dell Technologies or Seagate Technology?
Dell Technologies (DELL), at $371.2B against $161.3B.
Is DELL or STX cheaper?
By trailing P/E, Dell Technologies (65.7x) is cheaper than Seagate Technology (68.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, DELL or STX?
Dell Technologies: revenue grew +57.8% over the last year, against +48.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.