Dell raises long-term revenue and earnings growth targets

Dell Technologies (NYSE: DELL) announced updated long-term financial targets during its Securities Analyst Meeting, raising its expected annual revenue growth to 7-9% from a previous target of 3-4%.

The company also increased its annual non-GAAP diluted earnings per share growth target to 15% or better, up from the previous 8% target. Dell extended its commitment to grow quarterly dividends by 10% or more annually through fiscal 2030, compared to the previous commitment through fiscal 2028.

The company maintained its targets for net income to adjusted free cash flow conversion at 100% or better and shareholder returns via share repurchases and dividends at over 80% of adjusted free cash flow.

"Customers are hungry for AI and the compute, storage and networking we provide to deploy intelligence at scale," said Michael Dell, chairman and chief executive officer. "We're successfully translating that demand into growth and strong cash flow that we've largely returned to shareholders."

Jeff Clarke, vice chairman and chief operating officer, noted the company has grown AI into a $20 billion business in two years. David Kennedy, interim chief financial officer, said Dell has returned $14.5 billion to shareholders since its dividend program began in fiscal 2023.

Dell reaffirmed its financial guidance for fiscal 2026 third quarter and full year that was provided on August 28, 2025. The company cited its position in artificial intelligence infrastructure as a key driver for the increased targets.

The updated financial framework reflects Dell's expectations based on demand for AI solutions and its portfolio spanning data center infrastructure to personal computers. The information was provided in a company press release.

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