Hewlett Packard Enterprise Co
HPE—
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Hewlett Packard Enterprise Co AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 23.8B is 97% of equity (24.4B) - tangible book value is NEGATIVE (-6B), creating material impairment risk[Goodwill]
- FCF TTM collapsed to 225M (0.7% margin) vs 2.5B operating cash flow - capex of 2.3B consuming nearly all cash generation[Free Cash Flow TTM]
- 12.4B acquisition spend TTM while adding 4.5B net debt - aggressive M&A funded by leverage, not organic cash[Purchase of Business TTM]
Watch Triggers
- Free Cash Flow TTM: Recover above 1.5B (covering dividend + debt service) — Current 225M FCF is unsustainable - dividend at risk without recovery
- Goodwill: Any impairment charge or writedown announcement — At 97% of equity, even 10% impairment wipes 2.4B from book value
- Debt to Equity: Rises above 1.2x from current 0.97x — Further leverage to fund M&A or dividends signals distress
Bull Case
P/E of 17.3x is 47% discount to industry median (32.4x) while operating margin of 6.2% is 2.5x industry median - value with profitability
P/E RatioOperating Margin TTM
Revenue of 33.1B dwarfs industry median (422M) with 2.2B R&D spend - scale advantages in enterprise infrastructure
Total Revenue TTMResearch and Development TTM
Bear Case
Negative tangible book (-6B) with 23.7B debt means equity is entirely goodwill - any impairment directly erodes shareholder value
Tangible Book ValueGoodwillTotal Debt
FCF of 225M cannot cover 680M dividends - currently funded by debt issuance (4.5B net), unsustainable capital allocation
Free Cash Flow TTMDividends Paid Per Share TTMNet Issuance Payments of Debt
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
M&A integration execution will determine whether HPE creates or destroys value over next 18 months
1-3ymed
- 12.4B acquisitions must generate synergies to justify 97% goodwill/equity
- Debt/equity at 0.97 limits further deal capacity
- FCF must recover from 225M to fund 680M annual dividend
Purchase of business TTM: 12.4BGoodwill: 23.8B vs equity 24.4BFCF TTM: 225M vs dividends: ~680M
Valuation Context
Caveats
HPE Fundamentals
Manufacturing → Computer and Electronic Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$65.15B | — | ||
$81.1B | — | ||
46 | — | ||
$38.79B | +22.6% | — | |
$1.07 | -2.9% | — | |
5.79% | -1.2% | — | |
4.01% | -0.6% | — | |
$3.99B | +3628.0% | — | |
6.33% | -0.1% | — | |
Beta 5Y (Monthly) | unknown | — |
HPE Dividend History
44 dividends
2026
$0.285006/16/26$0.1425
03/24/26$0.1425
2025
$0.532512/19/25$0.1425
09/18/25$0.1300
06/18/25$0.1300
03/21/25$0.1300
2024
$0.520012/20/24$0.1300
09/19/24$0.1300
06/18/24$0.1300
03/14/24$0.1300
2023
$0.490012/12/23$0.1300
09/13/23$0.1200
06/14/23$0.1200
03/16/23$0.1200
2022
$0.480012/13/22$0.1200
09/09/22$0.1200
06/10/22$0.1200
03/10/22$0.1200
2021
$0.480012/09/21$0.1200
09/10/21$0.1200
06/15/21$0.1200
03/09/21$0.1200
2020
$0.480012/08/20$0.1200
09/08/20$0.1200
06/09/20$0.1200
03/10/20$0.1200
2019
$0.457512/10/19$0.1200
09/10/19$0.1125
06/11/19$0.1125
03/12/19$0.1125
2018
$0.412512/11/18$0.1125
09/11/18$0.1125
06/12/18$0.1125
03/13/18$0.0750
2017
$0.270012/12/17$0.0750
09/12/17$0.0650
06/12/17$0.0650
03/13/17$0.0650
2016
$0.285012/12/16$0.0650
10/10/16$0.0550
10/07/16$0.0550
06/06/16$0.0550
03/07/16$0.0550
2015
$0.055012/07/15$0.0550
HPE Stock Splits
No stock splits
HPE SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
06/02/26 | 04/30/26 | 10-Q | |
03/10/26 | 01/31/26 | 10-Q | |
12/18/25 | 10/31/25 | 10-K | |
09/04/25 | 07/31/25 | 10-Q | |
06/04/25 | 04/30/25 | 10-Q | |
03/07/25 | 01/31/25 | 10-Q | |
12/19/24 | 10/31/24 | 10-K | |
09/05/24 | 07/31/24 | 10-Q | |
06/05/24 | 04/30/24 | 10-Q | |
03/05/24 | 01/31/24 | 10-Q | |
12/22/23 | 10/31/23 | 10-K | |
09/01/23 | 07/31/23 | 10-Q | |
06/02/23 | 04/30/23 | 10-Q | |
03/07/23 | 01/31/23 | 10-Q | |
12/08/22 | 10/31/22 | 10-K | |
09/01/22 | 07/31/22 | 10-Q | |
06/03/22 | 04/30/22 | 10-Q | |
03/03/22 | 01/31/22 | 10-Q | |
12/10/21 | 10/31/21 | 10-K | |
09/03/21 | 07/31/21 | 10-Q | |
06/03/21 | 04/30/21 | 10-Q | |
03/04/21 | 01/31/21 | 10-Q | |
12/10/20 | 10/31/20 | 10-K | |
09/03/20 | 07/31/20 | 10-Q | |
06/02/20 | 04/30/20 | 10-Q | |
03/09/20 | 01/31/20 | 10-Q | |
12/13/19 | 10/31/19 | 10-K | |
08/30/19 | 07/31/19 | 10-Q | |
05/31/19 | 04/30/19 | 10-Q | |
03/05/19 | 01/31/19 | 10-Q | |
12/12/18 | 10/31/18 | 10-K | |
09/04/18 | 07/31/18 | 10-Q | |
06/07/18 | 04/30/18 | 10-Q | |
03/09/18 | 01/31/18 | 10-Q | |
12/15/17 | 10/31/17 | 10-K | |
09/07/17 | 07/31/17 | 10-Q | |
06/08/17 | 04/30/17 | 10-Q | |
03/09/17 | 01/31/17 | 10-Q | |
12/15/16 | 10/31/16 | 10-K | |
09/08/16 | 07/31/16 | 10-Q | |
06/08/16 | 04/30/16 | 10-Q | |
03/10/16 | 01/31/16 | 10-Q | |
12/17/15 | 10/31/15 | 10-K | |
10/07/15 | 07/31/15 | 10-12B/A | |
09/04/15 | 04/30/15 | 10-12B/A | |
03/10/16 | 01/31/15 | 10-Q | |
10/07/15 | 10/31/14 | 10-12B/A | |
07/31/14 | 07/31/14 | Unknown | -- |