In the latest period of Q4'26, DELL's Gross Margin stands at 20.2%, reflecting a modest decline from 20.7% in Q3'26, while Operating Margin improved to 9.3% from 7.8%, and Net Profit Margin rose to 6.8% from 5.7%, indicating stronger bottom-line efficiency despite top-line pressures. Over the period from Q1'24 to Q4'26, Gross Margin exhibited volatility with an overall downward trend, fluctuating between a high of 24.3% in Q1'24 and a low of 18.3% in Q2'26, before stabilizing around 20% in recent quarters. Operating and Net Profit Margins showed more resilience, with notable peaks at 9.6% and 6.9% respectively in Q4'25, driven by cost controls, though both dipped in mid-2025 before recovering, highlighting DELL's ability to enhance profitability amid margin compression in gross terms.