Dell Technologies Inc. vs WESTERN DIGITAL CORPORATION, two Computer Hardware stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The number that separates the pair is the operating margin: 35.7% at Western Digital against 8.3% at Dell, a component maker at cycle peak against an integrator whose economics are volume and velocity. Nearly identical multiples, 34.5 and 31.4 times, flatten that difference into a single question: would you rather own peak margins that may fade or thin margins that may hold? Dell runs negative equity and a 0.95 current ratio, supplier-funded by design; WDC carries modest 0.33 leverage. Free-cash yields favor Dell slightly, 3.7% to 1.3%, and only Dell pays a real dividend. The market prices them as equals; their income statements have never met.
Comparison updated 2026-07-10.
| Metric | DELL | WDC |
|---|---|---|
| Price | $394.31 | $578.52 |
| Market cap | $258.7B | $223.9B |
| Sector | Computer Hardware | Computer Hardware |
| Stage | Growth | Growth |
| P/E | 31.4 | 34.5 |
| P/B | — | 23.13 |
| P/S | 1.93 | 19.01 |
| EV/EBITDA | 25.1 | 61.5 |
| Revenue growth | +39.2% | +32.0% |
| Gross margin | 17.8% | 50.2% |
| Operating margin | 8.3% | 35.7% |
| Net margin | 5.8% | 40.7% |
| Return on equity | — | 49.6% |
| Return on assets | 6.8% | 31.9% |
| Return on invested capital | 24.8% | 26.5% |
| FCF yield | 3.6% | 1.3% |
| Dividend yield | 0.5% | 0.0% |
| Debt / equity | — | 0.33 |
| Current ratio | 0.95 | 1.49 |
| Altman Z (solvency) | 2.64 | 7.86 |
| Piotroski F (quality) | 7 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.