Quick verdict: ADI vs DELL in 2026

In this ADI vs DELL stock comparison for 2026, Dell Technologies Inc. (DELL) holds an overall edge based on the key metrics, securing 6 wins compared to Analog Devices, Inc.’s (ADI) 5 wins in our scorecard. DELL emerges as the growth leader with a higher year-over-year revenue growth rate and also presents a more compelling profile for value investors with its significantly lower P/E ratio and more favorable DCF valuation. Conversely, ADI stands out as the margin leader, demonstrating superior profitability metrics, and is clearly the analyst favorite, boasting a higher percentage of ‘Buy’ ratings and a positive price target upside. Ultimately, ADI exhibits the most potential upside according to analyst price targets. Not investment advice.

ADI vs DELL: key metrics side by side

Full side-by-side comparison of ADI and DELL across valuation, profitability, growth and analyst sentiment. Data updated 2026-04-14.

ADI vs DELL valuation comparison

A critical aspect of any `ADI vs DELL valuation` analysis is examining their price multiples and intrinsic value estimates. Analog Devices (ADI) currently trades at a P/E ratio of 62.99x, which is significantly higher than Dell Technologies’ (DELL) P/E of 20.2x, suggesting ADI is considerably more expensive on an earnings basis. This premium valuation for ADI might reflect market expectations for its robust profitability and consistent performance in the semiconductor space. Furthermore, ADI’s Price-to-Book (P/B) ratio stands at 5.05x, while DELL’s P/B ratio is -48.55x, indicating a complex balance sheet structure for Dell, often influenced by significant share repurchases or accumulated deficits, making a direct P/B comparison less straightforward for DELL.

When considering the Discounted Cash Flow (DCF) models, DELL appears to offer a more attractive entry point. DELL’s DCF suggests a mere -4.7% downside from its current price of $183.935, indicating that its market price is relatively close to its intrinsic value estimate. In stark contrast, ADI’s DCF points to a substantial -29.9% downside from its current price of $348.7812, implying that the stock might be overvalued according to this intrinsic valuation method. Based on these metrics, Dell Technologies (DELL) emerges as the cheaper stock from a traditional valuation perspective, particularly concerning its P/E ratio and proximity to its DCF fair value.

ADI vs DELL growth comparison

Analyzing the growth trajectories for Analog Devices (ADI) vs Dell Technologies (DELL) reveals distinct patterns. Dell Technologies currently exhibits a slightly stronger revenue growth momentum, with a year-over-year increase of 18.8%. This is marginally higher than Analog Devices’ revenue growth of 16.9% over the same period. While both companies demonstrate healthy double-digit growth, DELL’s larger revenue base of $113.54 billion compared to ADI’s $11.02 billion means that its 18.8% growth translates to a much larger absolute increase in sales. This scale could be indicative of DELL’s robust performance in its core markets, potentially benefiting from ongoing demand for its hardware and IT solutions.

Despite DELL’s higher top-line growth rate, ADI’s superior profitability margins suggest a highly efficient business model that could fuel sustainable growth differently. ADI boasts an impressive net margin of 23.02% and an EBITDA margin of 46.99%, vastly outperforming DELL’s net margin of 5.23% and EBITDA margin of 8.07%. These higher margins for ADI indicate that a larger portion of its revenue converts into profit, providing more capital for research and development, acquisitions, or shareholder returns. While DELL has stronger revenue momentum, ADI’s higher profitability could give it an edge in long-term capital efficiency and strategic investments, contributing to different forms of competitive strength in their respective technology segments.

ADI vs DELL profitability

When comparing the profitability of Analog Devices (ADI) and Dell Technologies (DELL), ADI demonstrates significantly stronger performance across several key metrics. Analog Devices showcases a remarkable net margin of 23.02%, indicating that nearly a quarter of its revenue translates directly into profit. This is substantially higher than Dell Technologies’ net margin of 5.23%. Similarly, ADI’s EBITDA margin stands at an impressive 46.99%, far surpassing DELL’s 8.07%. These figures highlight ADI’s superior operational efficiency and pricing power within its specialized semiconductor industry, allowing it to retain a much larger portion of its sales as profit.

Regarding Return on Equity (ROE), both companies currently report N/A%, which prevents a direct comparison using this specific metric. However, the Free Cash Flow (FCF) yield offers another perspective on cash generation. Here, Dell Technologies takes the lead with an FCF yield of 6.89%, outperforming ADI’s 2.68%. A higher FCF yield suggests that DELL is generating more cash relative to its market capitalization, which can be crucial for debt repayment, reinvestment, or shareholder distributions. While ADI excels in converting revenue into profit, DELL demonstrates a stronger ability to generate free cash flow, indicating different strengths in how each company generates and manages its cash resources.

Analyst ratings: ADI vs DELL

The analyst community shows a more favorable outlook for Analog Devices (ADI) compared to Dell Technologies (DELL) as of April 14, 2026. Out of 54 analysts covering ADI, a significant 79.6% have issued a ‘Buy’ rating for the stock. This strong consensus suggests a high level of confidence among professionals in ADI’s future performance. Furthermore, their collective price target for ADI is set at $374.42, which implies a positive upside of +7.4% from its current price of $348.7812. This indicates that analysts anticipate continued growth and value appreciation for Analog Devices in the coming period.

In contrast, Dell Technologies (DELL) receives a ‘Buy’ rating from 60.5% of the 43 analysts covering the company, which is still a majority but noticeably lower than ADI’s proportion. More importantly, the consensus price target for DELL is $161.75, which represents a projected downside of -12.1% from its current price of $183.935. This negative implied return suggests that, according to analyst projections, DELL’s stock may be trading above its perceived fair value. Therefore, when examining analyst preferences and potential price movement, ADI clearly stands out as the favored stock with a higher buy conviction and positive target upside, making it a stronger contender based on external expert opinion.

Should I buy ADI or DELL stock in 2026?

For growth-oriented investors asking `should I buy ADI or DELL stock in 2026`, Dell Technologies (DELL) currently demonstrates a slightly higher year-over-year revenue growth rate of 18.8% compared to Analog Devices’ (ADI) 16.9%. This marginal lead in top-line expansion suggests DELL has stronger momentum in scaling its business. However, ADI’s significantly higher net margin of 23.02% and EBITDA margin of 46.99% indicate a more profitable growth engine, where a larger portion of its revenue translates into earnings. These robust margins could provide ADI with greater financial flexibility for future growth initiatives, even with a slightly lower revenue growth rate.

For investors prioritizing value, Dell Technologies (DELL) appears to be the more attractive option in this `adi vs dell fundamentals and valuation` comparison. DELL’s P/E ratio of 20.2x is considerably lower than ADI’s 62.99x, suggesting that DELL’s earnings are available at a more reasonable price. Furthermore, DELL’s Discounted Cash Flow (DCF) valuation indicates a minimal downside of -4.7% from its current price, implying it is closer to its intrinsic value. ADI, on the other hand, shows a DCF downside of -29.9%, potentially indicating overvaluation. These valuation metrics position DELL as a more compelling choice for those seeking a value investment.

Regarding income potential, both Analog Devices (ADI) and Dell Technologies (DELL) offer a negligible dividend yield of 0.01%. This suggests that neither stock is a suitable choice for investors primarily seeking substantial dividend income in 2026. Income-focused investors would likely find better opportunities elsewhere, as these companies appear to prioritize reinvestment into their businesses or other forms of shareholder returns over significant dividend distributions. Therefore, the decision between ADI and DELL should hinge on growth prospects, valuation, and profitability, rather than income generation. This is not investment advice.

More ADI and DELL comparisons

ADI full stock analysis · DELL full stock analysis · All stock comparisons

FAQ: ADI vs DELL