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Hewlett Packard Enterprise Company

HPE Technology Communication Equipment

Hewlett Packard Enterprise Company’s revenue for fiscal 2025 (year ended October 2025) was $34.3 billion, up 13.8% from fiscal 2024.

Revenue
+33.7%
EPS
+438.1%
Free cash flow
+20.6%
Total debt
+2.90%

Quarter to July 2026, against a year earlier

55.09 3.78 −6.42%
Market cap
$78.2B
P/E
27.4×
Fwd P/E
19.7×
Dividend yield
1.03%
F-score
2/9
Altman Z
0.77
Beneish M
−2.33
Dividend safety
36/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Revenue by segment Fiscal 2024

  • Server Segment
  • Hybrid Cloud
  • Networking
  • Financial Services
  • Corporate Investments and Other

Every year since 2013 →

Insider Decisions last twelve months

Sold, $m 73.08
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 9 — — 3 3 2 2 1 — 3 2 —
Insider Ownership 1.20%

Capital & Financial Ratios $m

Size
Market Cap 78,150.00
Revenue ttm 41,871.00
Net income ttm 2,791.00
Free cash flow ttm 4,570.00
Net debt Q 11,127.00
Valuation
P/E 27.40
Forward P/E 19.70
Price / sales 1.76
Forward P/S Powerpack
Price / FCF 16.10
Price / book 2.77
Financial health
Current ratio Q 1.11
Debt / equity Q 0.65
Interest coverage Q 18.57
Growth
Revenue growth Q +33.68% (above 0%: growing)
Operating income growth Q +463.97% (above 0%: growing)
EPS, this year +97.16% (at or above 15%: strong)
EPS, next year A +23.45% (at or above 15%: strong)
Revenue, next year A +35.78% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +41.26% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.0×, against a ten-year median of 0.9×; over the ten years it ranged from 0.3× in 2016 to 2.3× in 2026.
P/E against its own 10 years 80.29%
10-year low 10-year high
P/S against its own 10 years 98.27%
10-year low 10-year high
P/B against its own 10 years 98.27%
10-year low 10-year high
EV/Sales against its own 10 years 98.13%
10-year low 10-year high
EV/FCF against its own 10 years 58.88%
10-year low 10-year high

Dividends raised 3 years running

Yield
1.03%
Annual rate
0.57
Payout ratio
29.7%
Growth, 2016–25
+12.2%/yr
  1. 0.19 ’16
  2. 0.23 ’17 +21%
  3. 0.41 ’18 +81%
  4. 0.46 ’19 +11%
  5. 0.48 ’20 +5%
  6. 0.48 ’21 +0%
  7. 0.48 ’22 +0%
  8. 0.49 ’23 +2%
  9. 0.52 ’24 +6%
  10. 0.53 ’25 +2%
  11. 0.57 ’26e +6%
paid forecast Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4,270 14,846 5,773 6,216
Receivables 7,024 7,420 9,116 10,026
Inventory 4,607 7,810 6,352 11,823
Other 3,047 3,381 3,753 5,800
18,948 33,457 24,994 33,865
2023 2024 2025 Q'26
Payables 7,136 11,064 7,731 13,734
ST’ Debt — — — —
Other 1,724 1,388 1,871 2,880
21,882 25,973 24,643 30,436

Compound Annual Growth %

10y 5y 3y
Sales 0.99% 4.91% 6.37%
Cash Flow (2.24%) 5.44% (14.02%)
Earnings 0.00% 0.00% 0.00%
Book Value (3.10%) 8.99% 7.53%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.95 Actual 1.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.59 0.62 Beat by 0.03
Q1 FY26 0.59 0.65 Beat by 0.06
Q2 FY26 0.54 0.79 Beat by 0.25
Q3 FY26 0.95 1.11 Beat by 0.16
Q4 FY26 1.28 — Reports 3 December 2026

EPS $

Jan Apr Jul Oct Year
’26 0.31 0.44 1.06 — —
’25 0.44 (0.82) 0.21 0.11 (0.04)
’24 0.29 0.24 0.38 0.99 1.93
’23 0.38 0.32 0.35 0.49 1.54
’22 0.39 0.19 0.31 (0.23) 0.66
’21 0.17 0.19 0.29 1.91 2.58
’20 0.25 (0.64) 0.01 0.12 (0.25)
Fiscal quarters ending in the months shown.

Revenue $m

Jan Apr Jul Oct Year
’26 9,301 10,678 12,213 — —
’25 7,854 7,627 9,136 9,679 34,296
’24 6,755 7,204 7,710 8,458 30,127
’23 7,809 6,973 7,002 7,351 29,135
’22 6,961 6,713 6,951 7,871 28,496
’21 6,833 6,700 6,897 7,354 27,784
’20 6,949 6,009 6,816 7,208 26,982
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jan Apr Jul Oct Year
’26 1,178 1,410 1,641 — —
’25 (390) (461) 1,305 2,465 2,919
’24 64 1,093 1,154 2,030 4,341
’23 (829) 889 1,525 2,843 4,428
’22 (76) 379 1,254 3,036 4,593
’21 963 822 1,130 2,956 5,871
’20 (79) 100 1,472 747 2,240
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jan Apr Jul Oct Year
’26 675 957 988 — —
’25 (834) (928) 819 1,950 1,007
’24 (496) 655 673 1,512 2,344
’23 (1,464) 287 956 2,423 2,202
’22 (577) (211) 587 2,274 2,073
’21 563 368 526 2,266 3,723
’20 (185) (402) 924 223 560
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to October

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jul ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 30,280 28,871 30,852 29,135 26,982 27,784 28,496 29,135 30,127 34,296 41,871 +1.4% 46,568 54,710 59,250 +20.0%
Gross margin, % 32.28 30.03 29.92 32.58 31.39 33.75 33.36 35.14 32.79 30.26 36.73 (2.0) pt
EBT 3,860 272 268 1,553 (442) 3,587 876 2,230 2,953 (285) 2,633 n/m
EBT margin, % 12.75 0.94 0.87 5.33 (1.64) 12.91 3.07 7.65 9.80 (0.83) 6.29 (13.6) pt
Net income 3,161 344 1,908 1,049 (322) 3,427 868 2,025 2,579 57 2,791 (36.0%)
Per share, $
Per share, $ Revenue 17.66 17.54 20.18 21.53 20.85 21.23 21.87 22.43 23.02 25.90 31.34 +4.4%
Earnings 1.84 0.21 1.25 0.78 (0.25) 2.62 0.67 1.56 1.95 (0.04) 2.01 n/m
Cash flow 2.95 0.81 1.94 2.95 1.73 4.49 3.52 3.41 3.32 2.20 5.01 (3.2%)
Capex (1.65) (1.49) (1.22) (1.67) (1.30) (1.64) (1.93) (1.71) (1.53) (1.44) (1.59) (1.5%)
Free cash flow 1.30 (0.68) 0.72 1.28 0.43 2.84 1.59 1.70 1.79 0.76 3.42 (5.8%)
Book value 18.38 14.28 13.91 12.67 12.44 15.29 15.28 16.35 19.01 18.70 19.89 +0.2%
Shares, m 1,715 1,646 1,529 1,353 1,294 1,309 1,303 1,299 1,309 1,324 1,332 (2.8%)
Valuation, ×
Valuation, × P/E 7.14 66.29 12.92 20.77 0.00 5.71 21.62 9.80 9.99 0.00 27.40 15.4
P/S 0.76 0.79 0.76 0.76 0.43 0.70 0.65 0.69 0.85 0.94 1.76 0.7
P/B 0.73 0.97 1.10 1.29 0.72 0.98 0.93 0.94 1.03 1.31 2.77 1.0
EV/Sales 0.73 0.81 0.93 0.96 0.72 0.92 0.78 0.80 0.80 1.29 2.02 0.9
EV/FCF 9.92 (20.94) 25.93 16.02 34.79 6.84 10.75 10.53 10.31 44.01 18.54 14.8
Cash, $m
Cash, $m Operating cash flow 5,056 1,335 2,964 3,997 2,240 5,871 4,593 4,428 4,341 2,919 6,694 (5.9%)
Capex (2,830) (2,458) (1,862) (2,259) (1,680) (2,148) (2,520) (2,226) (1,997) (1,912) (2,124) (4.3%)
Free cash flow 2,226 (1,123) 1,102 1,738 560 3,723 2,073 2,202 2,344 1,007 4,570 (8.4%)
Balance, $m
Balance, $m Working capital 6,388 2,520 74 (4,016) (2,182) (1,809) (2,668) (2,934) 7,484 351 3,429 (27.6%)
Net debt (819) 603 5,256 5,642 7,953 5,900 3,690 3,217 (1,342) 11,983 11,127 n/m
Shareholders’ equity 31,518 23,505 21,274 17,149 16,096 20,017 19,909 21,238 24,880 24,754 26,576 (2.6%)
Returns, %
Returns, % ROA 3.96 0.49 3.26 1.96 (0.61) 6.14 1.51 3.54 3.98 (0.08) 3.32 (4.0) pt
ROIC 7.95 1.46 4.09 3.49 (0.86) 2.73 2.07 5.34 5.82 (0.74) 4.31 (8.7) pt
ROE 9.66 1.25 8.52 5.46 (1.94) 18.98 4.35 9.84 11.08 (0.24) 10.48 (9.9) pt
People
People Employees 195,000 66,000 60,000 61,600 59,400 60,400 60,200 62,000 61,000 67,000 — (11.2%)
Revenue/emp, $m 0.16 0.44 0.51 0.47 0.45 0.46 0.47 0.47 0.49 0.51 — +14.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Oct 2025 · latest quarter Jul 2026

Business profile

Updated

Hewlett Packard Enterprise, or HPE, sells the computing equipment, software and services organizations use to run applications, store data and connect users. Its customers range from small and midsize businesses to large enterprises and government entities. Founded in 2015, HPE is headquartered in Spring and led by President and Chief Executive Officer Antonio Neri.

Its servers provide computing capacity for everyday business applications as well as demanding tasks such as artificial intelligence and supercomputing. HPE also sells storage systems for keeping and managing data, and networking equipment that connects offices, data centers and cloud services. Networking software helps customers manage and secure those connections.

Where the money comes from and where it goes Fiscal 2024

Fiscal 2024: revenue by segment, and margins
Server Segment 15,830 52.54%
Hybrid Cloud 5,273 17.50%
Networking 4,501 14.94%
Financial Services 3,509 11.65%
Corporate Investments and Other 1,014 3.37%
Gross margin 32.79%
Operating margin 7.27%
Pre-tax margin 9.80%

Revenue by segment since 2013

Hewlett Packard Enterprise Company vs peers in Communication Equipment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LITE Lumentum Holdings Inc. $83.3B — (loss-making) 39.4× +109.34% (above 0%: growing) n/m +1,870.30% (above 0%: growing) 47.43% 27.76% Compare
MSI Motorola Solutions, Inc. $81.4B 38.3× 35.6× +13.31% (above 0%: growing) +9.09% (above 0%: growing) +84.00% (above 0%: growing) 53.56% 25.82% Compare
HPE Hewlett Packard Enterprise Company $78.2B 27.4× 19.7× +33.68% (above 0%: growing) +438.10% (above 0%: growing) +20.63% (above 0%: growing) 40.11% 11.41%
NOK Nokia Corporation $52.7B 4.6× — +8.48% (above 0%: growing) n/m −624.57% (below 0%: shrinking) 44.57% (1.04%) Compare
CIEN Ciena Corporation $49.6B 69.3× 55.3× +37.05% (above 0%: growing) +437.14% (above 0%: growing) −13.59% (below 0%: shrinking) 45.43% 18.02% Compare
UI Ubiquiti Inc. $36.7B 35.7× 28.0× +23.47% (above 0%: growing) +6.80% (above 0%: growing) +134.17% (above 0%: growing) 45.80% 36.27% Compare
ERIC Ericsson $33.4B 14.3× — −3.14% (below 0%: shrinking) −7.14% (below 0%: shrinking) −89.23% (below 0%: shrinking) 45.78% 11.24% Compare
ZBRA Zebra Technologies Corporation $17.9B 32.7× 24.3× +20.42% (above 0%: growing) +122.27% (above 0%: growing) +52.31% (above 0%: growing) 52.99% 20.62% Compare
ASTS AST SpaceMobile, Inc. $16.8B — (loss-making) — (loss-making) +2,626.64% (above 0%: growing) n/m −103.37% (below 0%: shrinking) 25.23% (944.09%) Compare
Median of peers $43.1B 34.2× 35.6× +21.94% +9.09% +19.36% 45.79% 19.32%

All 46 Communication Equipment stocks →

From the latest earnings call

Updated

  • Antonio Neri said customer orders continued to exceed revenue, while supply constraints limited fulfillment and HPE worked with suppliers to secure capacity.
  • Marie Myers said HPE raised its fiscal 2026 outlook and updated its fiscal 2027 framework following demand strength, backlog and post-quarter deals.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Barclays Oct 22, 2026 Downgrade — —
Daiwa Oct 18, 2026 Upgrade Outperform 75.00
Morgan Stanley Oct 18, 2026 Target raised Outperform 67.00 → 72.00
Citi Oct 18, 2026 Target raised — 76.00 → 92.00
Goldman Sachs Oct 18, 2026 Target raised Buy 75.00 → 80.00
Wells Fargo Oct 1, 2026 Target raised — 54.00 → 63.00
Evercore ISI Sep 30, 2026 Downgrade Outperform → Hold 65.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 88.80%
Held by the ten largest 47.87%
Holder Shares Stake Change
Vanguard 173.64m 13.11% −589.48k
BlackRock 134.06m 10.12% −9.81m
State Street 68.10m 5.14% +375.57k
Capital Group 61.18m 4.62% +990.98k
JPMorgan Chase 40.05m 3.02% −14.50m
Bank of America 39.50m 2.98% −34.60m
Geode Capital Management 36.61m 2.76% +695.46k
Elliott Investment Management L.P. 32.27m 2.44% +4.85m
Goldman Sachs 24.61m 1.86% +7.53m
Morgan Stanley 23.92m 1.81% +3.56m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 11 February 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 23.48m 30.75m 329.00
2024 21.41m 24.01m 256.00
2023 20.07m 27.18m 196.00
2022 17.37m 12.26m 176.00
2021 19.05m 31.33m 175.00

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 12.01%
BlackRock 9.99%
State Street Corporation 5.45%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Hewlett Packard Enterprise Company (HPE) Latest News

29 Oct

Impact 4 · · Barchart
Impact 3 · · Simply Wall St.
Impact 3 · · Trefis
Impact 3 · · Trefis

28 Oct

Impact 4 · · Business Wire
Impact 4 · · Trefis
Impact 4 · · Moby
Impact 4 · · Zacks
Impact 4 · · Simply Wall St.
Impact 3 · · Trefis
Impact 3 · · Trefis
Impact 3 · · PR Newswire

27 Oct

Impact 4 · · Zacks
Impact 4 · · Business Wire
Impact 3 · · Trefis
Impact 3 · · Barchart

26 Oct

Impact 3 · · Zacks

23 Oct

Impact 4 · · 24/7 Wall St.
Impact 3 · · Trefis

22 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · verdict.co.uk
Impact 3 · · TIKR
Impact 3 · · Simply Wall St.
Impact 3 · · Trefis
Impact 3 · · Trefis

21 Oct

Impact 4 · · Trefis
Impact 3 · · StockStory
Impact 3 · · Barchart
Impact 3 · · TIKR
Impact 3 · · Proactive Investors

HPE metrics, ten years each

stockrow.com/HPE · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com