Information Technology · Technology Hardware, Storage & Peripherals · US stock · price as of 16 Oct 2026
Key indicators
Price
$55.13
52-week range
$19.57 – $73.56
Market cap
$79.9B
P/E (trailing)
27.5×
EV / EBITDA
15.3×
Free-cash-flow yield
5.2%
Dividend yield
1.0%
Revenue (last 12 months)
$41.9B
Revenue growth (3y a year)
6.4%
Operating margin
6.2%
Return on invested capital
5.9%
Net debt / EBITDA
2.2×
Fair value
Blended fair value$24.72 range $24 – $26
Versus priceOvervalued−55% to fair value
Peer multiples
$35.01
Fundamentals-adjusted multiple
$25.21
10-year DCF (market-scaled)
$13.93
Earnings power value (floor, not blended)
$0.51
Model uncertainty
High
X-Ray Score
39/ 100 · Medium confidence · ahead of 16% of sector peers
Valuation43
Growth43
Profitability30
Financial health30
Dividends56
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Hewlett Packard Enterprise supplies technology infrastructure to businesses and governments. Its portfolio covers servers, data storage, networking, including the Aruba wireless line, and high-performance computing, offered alongside HPE GreenLake, a subscription-style cloud service model. Customers include enterprises, public sector bodies, service providers and research institutions. It also runs a financing arm, and it was formed when Hewlett-Packard split into two companies.
HPE earns revenue from hardware, software and services, together with recurring income from as-a-service subscriptions and its financing business. Revenue is $41.9 billion over the last twelve months, with growth of 6.4% a year across three years. The operating margin is 6.2%, and the business earns a profit of 6% on the capital invested in it. It carries net debt of 2.2 times EBITDA, and the dividend yield is 1.0%.
StocksXray gives Hewlett Packard Enterprise Co an X-Ray Score of 39 out of 100 (medium confidence), ahead of 16% of the S&P 500 stocks in its sector. Its strongest lens is dividends (56) and its weakest is profitability (30).
Our fair value blend is $24.72 (range $23.71 to $25.72). At $55.13 the stock trades 123% above that blend, so the label is "Overvalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Hewlett Packard Enterprise Co (HPE)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$12.79
$12.87
$14.30
$18.64
$23.99
$55.13
Market cap
$17.0B
$17.0B
$18.8B
$24.9B
$31.8B
$79.9B
P/E
5.0×
19.5×
9.3×
9.7×
–
27.5×
EV / revenue
1.1×
1.0×
1.1×
1.1×
1.5×
2.2×
EV / EBITDA
8.0×
9.1×
6.7×
6.8×
22.7×
15.3×
Price / free cash flow
5.0×
11.6×
11.8×
12.6×
50.7×
19.2×
Free-cash-flow yield
19.8%
8.6%
8.5%
7.9%
2.0%
5.2%
Price / book
0.9×
0.9×
0.9×
1.0×
1.3×
3.0×
Dividend yield
3.75%
3.73%
3.36%
2.79%
2.17%
1.04%
Fundamentals checklist ● 3 Good · ● 3 Average · ● 8 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.7%Average
Free-cash-flow yield5.2%Good
Risk models
Altman Z score0.9×Bad
Piotroski F-Score5 of 9Bad
Growth
Free-cash-flow growth (3y)−24.7%Bad
Revenue growth (3y)6.4%Average
Growth consistency100%Good
Balance sheet
Current ratio1.1×Bad
Net debt / EBITDA2.2×Bad
Interest coverno interest costGood
Valuation
Fair value vs price0.4×Bad
EBIT / EV yield2.8%Average
Profitability
Return on invested capital5.9%Bad
Operating margin6.2%Bad
XStocksXray
Hewlett Packard Enterprise Co (HPE)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
27,784
28,496
29,135
30,127
34,296
41,871
Gross profit
–
–
–
–
–
–
Operating income
1,132
782
2,089
2,190
-437
2,602
Net income
3,427
868
2,025
2,579
57
2,791
Diluted EPS ($)
2.58
0.66
1.54
1.93
-0.04
2.01
Free cash flow
3,369
1,471
1,600
1,974
627
4,156
Gross margin
–
–
–
–
–
–
Operating margin
4.1%
2.7%
7.2%
7.3%
−1.3%
6.2%
Net margin
12.3%
3.0%
7.0%
8.6%
0.2%
6.7%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
57,699
57,123
57,153
71,262
75,906
83,596
Cash
3,996
4,163
4,270
14,846
5,773
6,216
Total debt
16,766
16,883
17,056
22,215
26,161
19,480
Equity
19,971
19,864
21,182
24,816
24,688
26,514
Dividend per share ($)
0.48
0.48
0.48
0.52
0.52
0.56
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
Apr 2025
Jul 2025
Oct 2025
Jan 2026
Apr 2026
Jul 2026
Revenue ($M)
7,627
9,136
9,679
9,301
10,678
12,213
Growth vs a year earlier
+5.9%
+18.5%
+14.4%
+18.4%
+40.0%
+33.7%
Net income ($M)
-1,050
305
175
452
624
1,540
Diluted EPS ($)
-0.82
0.21
–
0.31
0.44
1.06
XStocksXray
Hewlett Packard Enterprise Co (HPE)
Peers in Technology Hardware, Storage & Peripherals
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.