Dell Technologies Inc (DELL) is overvalued and Seagate Technology Holdings Plc (STX) is overvalued.
Both trade above our estimate of their intrinsic value. DELL is the closer of the two: -90%, against -380% for STX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.9% (average of 3 methods) values the shares at $288.54; the price of $548.92 is 90% above that value, and 70% of that value comes from beyond year five.
Leak Score 57/100 on 8 of 12 signals
Discounting its cash flows at 13.7% (average of 3 methods) values the shares at $191.47; the price of $919.84 is 380% above that value, and 61% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | DELL | STX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $548.92 | $919.84 |
| Intrinsic value | $288.54 | $191.47 |
| Margin of safety | -90% | -380% |
| Leak Score | 57/100 (8/12) | 59/100 (3/12) |
| Market cap | $349.0B | $209.2B |
| Revenue growth, 5 years | 5.6% | 2.7% |
| Operating margin | 9.9% | 34.6% |
| Net margin | 7.5% | 26.1% |
| Return on equity | — | 371.5% |
| Debt to equity | — | 1.80 |
| P/E | 31.9x | 66.3x |
| Forward P/E | 17.8x | 16.3x |
| P/B | — | 96.3x |
| Dividend yield | 0.5% | 0.3% |