2 models fit Dell Technologies Inc. Class C Common Stock and they disagree: 0 of 2 land within 15% of the average.
Two or more of our models back this value.
Near fair value(i)Silver74
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Dividend discount.
ACCE opinionDell Technologies Inc. Class C Common Stock (DELL)
Fair value (2 models)
$457
ACCE price target
$424
Rating
Fairly valued
Horizon
12 months
Fair value published on 21 Oct 2026, 11:06 CEST; previously $476 since 10 Oct 2026, 00:00 CEST.
ACCE price target published on 18 Oct 2026, 01:52 CEST; previously $574 since 19 Sept 2026, 00:00 CEST.
Rating published on 21 Oct 2026, 11:06 CEST.
Price used: $456 at the close on 23 Oct 2026, 22:00 CEST.
Models: P/E comparison and EV/EBITDA comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
0.2% below
+0.2% to fair value
ACCE score
76
out of 100
Analysts
66% buy
29 covering
P/E
26.5x
forward 15.3x
1-year return
+195.9%
Dividend yield
0.56%
Dell Technologies Inc. Class C Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Dell manufactures servers, storage systems, and PCs, with roughly 40% of revenue from infrastructure solutions sold to data centers and enterprises. The company has structural tailwinds from AI-driven server demand and benefits from a vertically integrated supply chain that competitors like HP lack, allowing faster product cycles and better margin capture on high-margin components. Near-term upside hinges on AI server attach rates and storage growth as customers build out inference infrastructure beyond training clusters. The forward PE of 20.1 sits well below the sector median despite 57.7% revenue growth, and operating margins of 12% have room to expand as the company scales AI-related products with higher gross margins than legacy PC business. Dell's ROE of 44.3% reflects efficient capital deployment through its buyback program, which has reduced share count by roughly 20% over the past three years.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Valuation disconnect with growth
P/E of 33.4 on 5-year revenue CAGR of 3.5% suggests premium pricing unsupported by long-term organic growth trajectory. Recent earnings spike (+272.9% YoY) appears cyclical rather than structural.
moderate
Insider selling concentration
Last 10 disclosed transactions show $74M in sales against $0M in buys. Insiders are net sellers despite stock trading near fair value, signaling caution at current levels.
moderate
Valuation score collapse
ACCE V score at 50/100 reflects overvaluation concerns.
AI research notes
AI-assisted·How I use AIWritten Oct 11, 2026 · figures from 2026-10-09 · prices to Oct 23, 2026
Why it could do well
Dell's 57.7% year-over-year revenue growth and 44.3% return on equity show the AI server business is scaling profitably at an exceptional rate.
At 20.1x forward P/E, Dell trades below the 29.3x sector median despite generating 6.0 billion dollars in free cash flow annually.
Analysts rate 69% of coverage as Buy or Strong Buy, and Dell beat earnings expectations by 43.1%, signaling execution confidence.
Why it could disappoint
Consensus fair value sits 18.9% below the current share price of 586.06 dollars, suggesting limited upside at current levels.
The 33.4x trailing P/E is expensive relative to a 5-year revenue growth average of only 3.5% per year.
At 1.6% free cash flow yield, investors are paying a premium for growth that the market prices as 9.6% perpetual expansion.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 24, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where DELL's valuation models land
Price
$456.44
Model fair value
$457
Model range
$240 to $718
Fair value $457
Price $456
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
P/E comparison
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
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+Conviction breakdown and growth / value / quality / momentum scores