DELL vs NOW: Which Is the Better Buy?
Side-by-side comparison of Dell Technologies Inc. and ServiceNow, Inc. — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-09-21.
Dell Technologies Inc. · Technology
$569.00
-32.5% upside to fair value
Low Conviction
Grade C
VS
ServiceNow, Inc. · Technology
$139.82
+16.2% upside to fair value
Med Conviction
Grade A-
High Quality
QuantHub Verdict
NOW has more upside to fair value
(+16.2%).
These are model outputs — not personalized investment advice.
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Valuation & Fundamentals
| Metric |
DELL |
NOW |
| Current Price |
$569.00 |
$139.82 |
| Fair Value Estimate |
$383.93 |
$162.50 |
| Upside to Fair Value |
-32.5%
|
+16.2%
|
| Market Cap |
$378.0B |
$144.6B |
| Forward P/E |
—
|
—
|
| EV / EBITDA |
21.8x
|
43.1x
|
| Price / Sales |
2.5x
|
9.8x
|
| Price / FCF |
42.9x
|
31.5x
|
| Revenue Growth YoY |
+57.7%
|
+24.0%
|
| Gross Margin |
19.8%
|
74.8%
|
| Operating Margin |
9.6%
|
11.4%
|
| Return on Equity |
-574.6%
|
13.8%
|
| Dividend Yield |
0.41% |
0% |
| FCF Yield |
2.33%
|
3.17%
|
| Analyst Consensus |
Buy
|
Strong Buy
|
Investment Thesis
Dell Technologies is a $378 billion market-cap computer hardware vendor spanning Infrastructure Solutions Group (servers, storage, networking), Client Solutions Group (PCs, displays, peripherals), and a VMware-related software franchise, led by founder-CEO Michael Dell. The business is fundamentally low-quality on the numbers: TTM gross margin is 19.8%, operating margin 9.6%, and net margin 7.5%,…
ServiceNow provides a cloud-based enterprise workflow platform spanning IT service management, operations, employee workflows, CRM, AI orchestration and security. Business quality is high because its common data model, deeply embedded workflows and cross-department deployments create meaningful switching costs, while roughly 90% of the Fortune 500 use the platform and more than 85 billion workflo…
Accumulation Zones
| Metric |
DELL |
NOW |
| Zone Low |
$287.95 |
$121.88 |
| Zone High |
$326.34 |
$138.12 |
| In Buy Zone? |
No
|
No
|