NYSE: HPE
Hewlett Packard Enterprise
Technology · Computer & office Equipment
52-week range
$19.84$73.56
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$63.6B
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| Period | Market cap |
|---|---|
| FY2016, ended Oct 31, 2016 | $37.4B |
| FY2017, ended Oct 31, 2017 | $22.2B |
| FY2018, ended Oct 31, 2018 | $21.3B |
| FY2019, ended Oct 31, 2019 | $21.2B |
| FY2020, ended Oct 31, 2020 | $11.2B |
| FY2021, ended Oct 31, 2021 | $18.9B |
| FY2022, ended Oct 31, 2022 | $18.3B |
| FY2023, ended Oct 31, 2023 | $20.0B |
| FY2024, ended Oct 31, 2024 | $25.6B |
| FY2025, ended Oct 31, 2025 | $32.6B |
| Trailing 12 months to Jul 31, 2026 (through Q3 FY2026) | $63.6B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$41.9B
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| Period | Revenue |
|---|---|
| FY2016, ended Oct 31, 2016 | $30.3B |
| FY2017, ended Oct 31, 2017 | $28.9B |
| FY2018, ended Oct 31, 2018 | $30.9B |
| FY2019, ended Oct 31, 2019 | $29.1B |
| FY2020, ended Oct 31, 2020 | $27.0B |
| FY2021, ended Oct 31, 2021 | $27.8B |
| FY2022, ended Oct 31, 2022 | $28.5B |
| FY2023, ended Oct 31, 2023 | $29.1B |
| FY2024, ended Oct 31, 2024 | $30.1B |
| FY2025, ended Oct 31, 2025 | $34.3B |
| Trailing 12 months to Jul 31, 2026 (through Q3 FY2026) | $41.9B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Oct 31, 2016 | $3.16B | $1.78B |
| FY2017, ended Oct 31, 2017 | $344M | −$1.80B |
| FY2018, ended Oct 31, 2018 | $1.91B | $8.00M |
| FY2019, ended Oct 31, 2019 | $1.05B | $1.14B |
| FY2020, ended Oct 31, 2020 | −$322M | −$143M |
| FY2021, ended Oct 31, 2021 | $3.43B | $3.37B |
| FY2022, ended Oct 31, 2022 | $868M | $1.47B |
| FY2023, ended Oct 31, 2023 | $2.02B | $1.60B |
| FY2024, ended Oct 31, 2024 | $2.58B | $1.97B |
| FY2025, ended Oct 31, 2025 | $57.0M | $627M |
| Trailing 12 months to Jul 31, 2026 (through Q3 FY2026) | $2.79B | $4.16B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$6.22B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Oct 31, 2016 | $13.0B |
| FY2017, ended Oct 31, 2017 | $9.58B |
| FY2018, ended Oct 31, 2018 | $4.88B |
| FY2019, ended Oct 31, 2019 | $3.75B |
| FY2020, ended Oct 31, 2020 | $4.23B |
| FY2021, ended Oct 31, 2021 | $4.00B |
| FY2022, ended Oct 31, 2022 | $4.16B |
| FY2023, ended Oct 31, 2023 | $4.27B |
| FY2024, ended Oct 31, 2024 | $14.8B |
| FY2025, ended Oct 31, 2025 | $5.77B |
| Trailing 12 months to Jul 31, 2026 (through Q3 FY2026) | $6.22B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$20.2B
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| Period | Total debt |
|---|---|
| FY2016, ended Oct 31, 2016 | $15.7B |
| FY2017, ended Oct 31, 2017 | $14.0B |
| FY2018, ended Oct 31, 2018 | $12.1B |
| FY2019, ended Oct 31, 2019 | $13.8B |
| FY2020, ended Oct 31, 2020 | $19.7B |
| FY2021, ended Oct 31, 2021 | $17.0B |
| FY2022, ended Oct 31, 2022 | $17.1B |
| FY2023, ended Oct 31, 2023 | $17.2B |
| FY2024, ended Oct 31, 2024 | $22.4B |
| FY2025, ended Oct 31, 2025 | $26.4B |
| Trailing 12 months to Jul 31, 2026 (through Q3 FY2026) | $20.2B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 20.3% since 2016.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.1.33B
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Oct 31, 2016 | 1.66B |
| FY2017, ended Oct 31, 2017 | 1.59B |
| FY2018, ended Oct 31, 2018 | 1.40B |
| FY2019, ended Oct 31, 2019 | 1.29B |
| FY2020, ended Oct 31, 2020 | 1.29B |
| FY2021, ended Oct 31, 2021 | 1.29B |
| FY2022, ended Oct 31, 2022 | 1.28B |
| FY2023, ended Oct 31, 2023 | 1.30B |
| FY2024, ended Oct 31, 2024 | 1.32B |
| FY2025, ended Oct 31, 2025 | 1.33B |
| Trailing 12 months to Jul 31, 2026 (through Q3 FY2026) | 1.33B |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.Net: $248M more issued than bought back
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Oct 31, 2016 | $2.66B | $558M |
| FY2017, ended Oct 31, 2017 | $2.56B | $428M |
| FY2018, ended Oct 31, 2018 | $3.57B | $286M |
| FY2019, ended Oct 31, 2019 | $2.25B | $268M |
| FY2020, ended Oct 31, 2020 | $355M | $274M |
| FY2021, ended Oct 31, 2021 | $213M | $382M |
| FY2022, ended Oct 31, 2022 | $512M | $391M |
| FY2023, ended Oct 31, 2023 | $421M | $428M |
| FY2024, ended Oct 31, 2024 | $150M | $430M |
| FY2025, ended Oct 31, 2025 | $202M | $643M |
| Trailing 12 months to Jul 31, 2026 (through Q3 FY2026) | $547M | $795M |
Revenue (TTM)
$41.9B
+26.6% YoY
Net income (TTM)
$2.79B
+124% YoY
Cash
$6.22B
+36.0% YoY
Total debt
$20.2B
−15.2% YoY
Valuation
At current price- Market Cap
- $73.1B
- P/E
- 26.2×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.7×
- Price / Book
- 2.8×
- EV / EBITDA
- 14.3×
Growth
Trailing 12 months- Revenue (TTM)
- $41.9B
- Revenue Growth YoY
- 26.6%
- Revenue CAGR 3Y
- 6.4%
- Revenue CAGR 5Y
- 4.9%
- EPS Growth YoY
- 128%
- Net Income Growth YoY
- 124%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 6.2%
- Net Margin
- 6.7%
- FCF Margin
- 9.9%
- Return on Equity
- 11.0%
Earnings
Trailing 12 months- Net Income
- $2.79B
- EPS (diluted)
- $1.94
- EBITDA
- $6.09B
- Operating Income
- $2.60B
Balance Sheet
As of Jul 31, 2026- Cash and cash equivalents
- $6.22B
- Total Debt
- $20.2B
- Net Debt
- $14.0B
- Total Assets
- $83.6B
- Total Liabilities
- $57.0B
- Shareholders' Equity
- $26.5B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $6.69B
- Capital Expenditure
- $2.54B
- Free Cash Flow
- $4.16B
Dividends and risk
Last 12 months- Dividend Yield
- 1.0%
- Dividend / Share
- $0.57
- Beta (5Y)
- 1.39
Every ratio is calculated from the company’s reported figures.
Strength
Revenue grew 26.6% over the last year, to $41.9B.
Strength
Operating margin widened 5.4 pts in a year, to 6.2%.
Note
Net debt of $14.0B is 2.3× EBITDA.
Note
Free cash flow of $4.16B, 9.9% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Oct 31, 2025 · filed Dec 18, 2025
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K62Nothing notable
62Nothing notable
10-K for the fiscal year ended Oct 31, 2024
Filed Dec 19, 2024 · Read the filing on EDGAR
- Revenue rose 3.4% to $30.1B and operating profit rose 4.8% to $2.19B. Net profit jumped 27%, helped by a $733M gain from selling 30% of H3C.
- Server sales grew 12.8% on AI-driven higher prices, but its margins fell. Networking (Intelligent Edge) sales fell 15.7% and its profit fell 17%.
- HPE raised $9B in bonds and $1.5B in preferred stock to pay for its pending $14B all-cash purchase of Juniper Networks. Cash rose to $15.1B and debt to $18.2B.
- Goodwill cushions are thin: the estimated value of Compute is 6% above its book value, Hybrid Cloud 5% and HPC & AI 11%.
Business momentum
Improving
“Net revenue of $30.1 billion represented an increase of 3.4% (increased 3.3% on a constant currency basis) primarily due to higher average unit prices (“AUPs”) in the Server segment”
Outlook
Cautious
“We expect such mixed macroeconomic environment to largely continue (though ease slightly) and possibly limit revenue growth in the near term.”
Financial stress
Low
“As of October 31, 2024, our cash, cash equivalents and restricted cash were $15.1 billion, compared to $4.6 billion as of October 31, 2023, representing an increase of $10.5 billion.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Subscription revenue growing fast
“The 49% year over year increase in ARR was primarily due to growth in our Hybrid Cloud, Server and Intelligent Edge segments”
Server sales up on AI demand
“Server net revenue increased $1,844 million, or 12.8%, primarily due to higher AUPs”
Cash from H3C sale and lower costs
“SG&A expense decreased by $289 million, or 5.6%, primarily due to lower employee costs”
Concerns
Gross margin squeezed
“The gross profit margin of 32.8% (or $9.9 billion) represents a decrease of 2.3 percentage points from the prior-year period”
Networking sales slump
“Intelligent Edge net revenue decreased $847 million, or 15.7%, primarily due to lower volume and product mix effect”
Low margins and price competition in AI servers
“as GPUs represent a large portion of the solutions, the pricing is very competitive and margins are limited.”
New risks since the previous report
Juniper deal may fail or be hard to integrate
“upon termination we would be required to pay Juniper Networks a termination fee of $815 million.”
Thin goodwill cushion in Hybrid Cloud
“The Hybrid Cloud reporting unit has goodwill of $4.8 billion as of October 31, 2024, and excess of fair value over carrying value of 5% as of the September 30, 2024 interim test date.”
AI-related inventory build-up
“the increase in DOS by 33 days in the current period was primarily due to higher inventory levels caused by strategic purchases of key components to support growth in AI systems.”
Nation-state hack of company email
Preferred stock dividends rank ahead of common dividends
“The Preferred Stock ranks senior to our common stock with respect to the payment of dividends.”
Biggest risks named
- Completing and integrating the $14B Juniper acquisition
- Possible goodwill write-downs in Compute, Hybrid Cloud or HPC & AI
- Price competition and thin margins in AI servers
- Weak, uneven IT spending and slumping networking demand
- Higher debt, plus IRS transfer-pricing dispute and new global minimum taxes
Artificial intelligence in this business: Material to the business
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | −2 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 62 | |
Written by AI (Claude Opus 5.5) from the report’s text. 13 of 14 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Dec 18, 2025 | Pro | |||
| 10-K | Dec 19, 2024 | 62 | Improving | None | |
| 10-K | Dec 22, 2023 | 54 | Mixed | 1 minor | |
| 10-K | Dec 8, 2022 | 35 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Dec 10, 2021 | 75 | Strong improvement | None | |
| 10-K | Dec 10, 2020 | 36 | Sharp deterioration | 1 medium | |
| 10-K | Dec 13, 2019 | 37 | Sharp deterioration | 1 medium | |
| 10-K | Dec 12, 2018 | 69 | Strong improvement | 1 minor | |
| 10-K | Dec 15, 2017 | 38 | Sharp deterioration | 1 minor | |
| 10-K | Dec 15, 2016 | 60 | Improving | 1 medium |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Jul 31, 2026), filed Sep 3, 2026. View filings on SEC EDGAR