HPE
Hewlett Packard Enterprise Co
Technology • CIK: 0001645590
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Market Cap
$32.33B
P/E (TTM)
-610.5x
Rev Growth (TTM)
+13.8%
Net Margin (TTM)
-0.2%
FCF Yield (TTM)
1.9%
FCF Margin (TTM)
1.8%
Cash Flow Health
Free Cash Flow5/8 positive
TTM$627M
Q4 '25
$1.8B+150%
Q3 '25
$729M+172%
FCF Margin
TTM1.8%
Q4 '2518.8%+136%
Sector: 14.5%Below Avg
OCF Margin8.5%
OCF/NI-49.47x
CapEx Coverage1.3x
FCF Yield1.9%
FCF Growth (2Y)-25%
Cash Conversion Cycle
46 days
DSO: 46+DIO: –−DPO: –
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM2.8%
Div Yield2.1%
+Buyback (TTM)0.6%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)2.1%
FCF Payout Ratio109.8%
Free Cash Flow (TTM)$627.0M
Stock Repurchases (TTM)$202.0M
Capital Return / FCF159.2%
Est. Dividends Paid (TTM)$688.5M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
0.3%
Moderate
-1.0% YoY-7.4%
P25MedianP75
72th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
0.3%
8Q: 4.4%
Asset Turnover
0.47x
8Q: 0.50x
Leverage (1+D/E)
1.91x
D/E: 0.91x
DuPont: 0.2% ≈ 0.3% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
6.02x
8Q:5.66x
+188.0%
Invested Cap Turn
1.00x
8Q:1.01x
Flat
CapEx Intensity
6.7%
8Q:7.4%
CapEx/Depreciation
0.84x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $34.3B | $9.7B↑5.9% | $9.1B↑19.8% | $7.6B↓2.9% | $7.9B↓7.1% | $8.5B↑9.7% | $7.7B↑7.0% | $7.2B↑6.6% | $6.8B |
Operating Income | $-437.0M | $-8.0M↓103.2% | $247.0M↑122.3% | $-1.1B↓356.1% | $433.0M↓37.5% | $693.0M↑26.7% | $547.0M↑28.7% | $425.0M↓19.0% | $525.0M |
Net Income | $-59.0M | $146.0M↓47.1% | $276.0M↑125.6% | $-1.1B↓280.4% | $598.0M↓55.4% | $1.3B↑161.9% | $512.0M↑63.1% | $314.0M↓18.9% | $387.0M |
Operating Cash Flow | $2.9B | $2.5B↑88.9% | $1.3B↑383.1% | $-461.0M↓18.2% | $-390.0M↓119.2% | $2.0B↑75.9% | $1.2B↑5.6% | $1.1B↑1607.8% | $64.0M |
Free Cash Flow | $627.0M | $1.8B↑150.2% | $729.0M↑172.3% | $-1.0B↓9.8% | $-918.0M↓164.6% | $1.4B↑132.7% | $611.0M↑14.6% | $533.0M↑190.0% | $-592.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-610.5x
Valuation Lenses
Earnings
-610.5x
vs – sector
Cash Flow
57.3x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: 0.3%
Shareholder Returns
Dividend
2.1%
Buyback
0.6%
Total Yield
2.8%
Market Cap$32.33B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
19/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Below Avg
-0.2%
8Q:–
Return on Invested Capital (ROIC)Above Avg
0.3%
8Q:–
-7.4%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 0.3%
Asset Turnover: 0.47x
Earnings Quality
Cash Conversion
-49.47x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin100.0%
Capital Efficiency
Invested Capital Turnover1.00x
Working Capital
Cash Conversion Cycle46 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
54/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
13.8%
OpInc Growth YoY
-101.2%
EPS Growth YoY
N/A
FCF 3Y CAGR
-24.7%
Growth Quality Analysis
⚠Working Capital Drag: FCF growth lagging revenue by 38.6%
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
100.0%
Operating
-1.3%
Below Avg in sector
Net
-0.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+2.0 pts
FCF: 1.8% | Net: -0.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $16.51B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.91x
Balance sheet risk & solvency analysis