Hewlett Packard Enterprise
HPE on NYSE. Hewlett Packard Enterprise sells computing and data technology products and services to businesses and governments. Market value $90.7bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to October 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $4.44 of spare cash in the past 12 months. A savings account pays about $4.
You pay 41.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 3 cents a year. Above 10 is good.
Quality score: 68 of 100. Price score: 41 of 100. Our list needs 70 on quality and 60 on price.
$70.48 a share, 255% above its 1-year low
Over the past year the price has ranged from $19.84 to $71.22.
Dividend: 0.7% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $4.2 billion in the past 12 months, $627 million in the year to October 2025.
| Revenue | |||||
| Revenue | $27.8bn | $28.5bn | $29.1bn | $30.1bn | $34.3bn |
| Operating margin | |||||
| Operating margin | 4.1% | 2.7% | 7.2% | 7.3% | -1.3% |
| Debt to equity | |||||
| Debt to equity | 0.80 | 0.83 | 0.78 | 0.90 | 1.07 |
| Shares outstanding | |||||
| Shares outstanding | 1.29bn | 1.28bn | 1.30bn | 1.32bn | 1.33bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt1.07× equity
- Revenue growth, five yearsSlow, 4.9% a year
- Buying back its own sharesRoughly flat
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $12.2 billion last quarter, up 34% on a year ago.
- Profit: $1.5 billion, up 405% on a year ago.
- It keeps 6 cents of each $1 of sales as operating profit, up from 1 cents a year earlier.
- Spare cash over the past 12 months: $4.2 billion, up from $225 million.
- 2% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $14 billion more than cash, down from $19.1 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $8.5bn |
| January 2025 | $7.9bn |
| April 2025 | $7.6bn |
| July 2025 | $9.1bn |
| October 2025 | $9.7bn |
| January 2026 | $9.3bn |
| April 2026 | $10.7bn |
| July 2026 | $12.2bn |
| Quarter to | Amount |
|---|---|
| October 2024 | $1.4bn |
| January 2025 | $627m |
| April 2025 | -$1.1bn |
| July 2025 | $305m |
| October 2025 | $175m |
| January 2026 | $452m |
| April 2026 | $624m |
| July 2026 | $1.5bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 3 December 2026
- Last annual report (10-K)
- 18 December 2025
- Next quarterly (estimated, 10-Q)
- 3 December 2026
Who owns it
10 long-term investors we follow own it, unchanged from 10 last quarter. 1,440 funds in all.
- Gotham Asset ManagementJoel Greenblatt
- Value
- $105m
- Share of fund
- 0.2%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Elliott Investment ManagementPaul Singer | $1.5bn | 10.2% | Added |
| Barrow HanleyBarrow Hanley team | $1.0bn | 3.1% | Cut |
| LSV Asset ManagementJosef Lakonishok | $586m | 1.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $105m | 0.2% | |
| GMOJeremy Grantham | $43m | <0.1% | Cut |
| Ariel InvestmentsJohn Rogers Jr. | $34m | 0.3% | Cut |
| GAMCO InvestorsMario Gabelli | $17m | 0.1% | Cut |
| Dodge & CoxDodge & Cox investment committee | $3m | <0.1% | Cut |
| Delphi ManagementScott Black | $1m | 1.3% | New |
| Auxier Asset ManagementJeff Auxier | $432,334 | <0.1% | Cut |
Sold out this quarter
- Irenic CapitalAdam KatzSold out
Largest holders overall
- BlackRock$6.0bnCut
- Vanguard Capital Management$3.9bn
- Vanguard Portfolio Management$3.3bn
- State Street$3.1bn
- Capital World Investors$2.7bn
- Bank of America$1.8bnCut
- JPMorgan Chase$1.8bnCut
- Geode Capital Management$1.6bn
- Elliott Investment Management$1.5bnAdded
- Goldman Sachs Group$1.1bnAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor8.9%Since 31 December 2025
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- Vanguard Portfolio ManagementPassive investor5.6%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 8.9% | 31 December 2025 | |
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
Vanguard Portfolio Management Passive investor | 5.6% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 12 sold $54m, $51m of it under preset trading plans.
- rahim ramiEVP, Pres GM NetworkingSoldunder a preset trading plan
- Date
- 29 September 2026
- Shares
- 34,456
- Price
- $61.42
- Value
- $2m
- REINER GARY MDirectorSold
- Date
- 14 September 2026
- Shares
- 17,000
- Price
- $56.91
- Value
- $967,429
- Neri Antonio FPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 11 September 2026
- Shares
- 250,000
- Price
- $60.44
- Value
- $15m
- Karros Kirt PSVP, Treasurer, Corp DevSoldunder a preset trading plan
- Date
- 22 July 2026
- Shares
- 23,675
- Price
- $47.02
- Value
- $1m
- Karros Kirt PSVP, Treasurer, Corp DevSoldunder a preset trading plan
- Date
- 22 June 2026
- Shares
- 18,785
- Price
- $48.50
- Value
- $911,073
- REINER GARY MDirectorSold
- Date
- 3 June 2026
- Shares
- 20,000
- Price
- $54.77
- Value
- $1m
- MYERS MARIEEVP & CFOSoldunder a preset trading plan
- Date
- 5 May 2026
- Shares
- 93,583
- Price
- $30.01
- Value
- $3m
- Mayer BethanyDirectorSoldunder a preset trading plan
- Date
- 5 May 2026
- Shares
- 6,482
- Price
- $29.10
- Value
- $188,626
- RUSSO FIDELMAEVP, GM, Hybrid Cloud & CTOSoldunder a preset trading plan
- Date
- 21 April 2026
- Shares
- 17,001
- Price
- $27.97
- Value
- $475,518
- MacDonald Neil BEVP, GM, ServerSoldunder a preset trading plan
- Date
- 20 April 2026
- Shares
- 24,251
- Price
- $27.01
- Value
- $655,020
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 29 September 2026 | rahim rami EVP, Pres GM Networking | Sold under a preset trading plan | 34,456 | $61.42 | $2m |
| 14 September 2026 | REINER GARY M Director | Sold | 17,000 | $56.91 | $967,429 |
| 11 September 2026 | Neri Antonio F President and CEO, Director | Sold under a preset trading plan | 250,000 | $60.44 | $15m |
| 22 July 2026 | Karros Kirt P SVP, Treasurer, Corp Dev | Sold under a preset trading plan | 23,675 | $47.02 | $1m |
| 22 June 2026 | Karros Kirt P SVP, Treasurer, Corp Dev | Sold under a preset trading plan | 18,785 | $48.50 | $911,073 |
| 3 June 2026 | REINER GARY M Director | Sold | 20,000 | $54.77 | $1m |
| 5 May 2026 | MYERS MARIE EVP & CFO | Sold under a preset trading plan | 93,583 | $30.01 | $3m |
| 5 May 2026 | Mayer Bethany Director | Sold under a preset trading plan | 6,482 | $29.10 | $188,626 |
| 21 April 2026 | RUSSO FIDELMA EVP, GM, Hybrid Cloud & CTO | Sold under a preset trading plan | 17,001 | $27.97 | $475,518 |
| 20 April 2026 | MacDonald Neil B EVP, GM, Server | Sold under a preset trading plan | 24,251 | $27.01 | $655,020 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 18 Dec 2025, plus the 10-Q filed 3 Sep 2026 and 13 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It isn't cheap on profits: 41.3× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.