Dell Technologies reported $132B of remaining performance obligations at 31 Jul 2026, up 200% from a year earlier and up 36% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 1.75.
Net new backlog added in the latest quarter: $35.0B.
Over the last twelve months it turned about 229% of its opening backlog into revenue (12-month conversion).
77% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 22.5% of the backlog.
Twelve-month book-to-bill: 1.58, i.e. 1.58 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +151 points — orders are running ahead of revenue.
By backlog size it ranks 11th among US filers the cockpit tracks.
Dell Technologies backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Jul 2026
$132B
$151B
0.9 yrs
$29.7B
1 May 2026
$97.0B
$134B
0.7 yrs
$27.5B
30 Jan 2026
$82.0B
$114B
0.7 yrs
$26.9B
31 Oct 2025
$51.0B
$104B
0.5 yrs
$25.1B
1 Aug 2025
$44.0B
$101B
0.4 yrs
$26.2B
2 May 2025
$49.0B
$96.7B
0.5 yrs
$26.3B
31 Jan 2025
$38.0B
$95.6B
0.4 yrs
$26.0B
1 Nov 2024
$37.0B
$94.0B
0.4 yrs
$26.2B
2 Aug 2024
$38.0B
$91.8B
0.4 yrs
$27.7B
3 May 2024
$39.0B
$89.7B
0.4 yrs
$28.1B
2 Feb 2024
$40.0B
$88.4B
0.5 yrs
$29.1B
3 Nov 2023
$39.0B
$91.1B
0.4 yrs
$29.1B
Questions
What is Dell Technologies's backlog?
Dell Technologies reported $132B of remaining performance obligations at 31 Jul 2026, up 200% from a year earlier and up 36% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 1.75.
How fast does Dell Technologies's backlog turn into revenue?
Over the last twelve months Dell Technologies recognised revenue equal to about 229% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.