Hewlett Packard Enterprise
HPE · NYSEComputer & office Equipment · Fiscal year ends Oct 31
Hewlett Packard Enterprise reported revenue of $34.3B in the fiscal year ended Oct 2025, up 13.8% from the year before. Operating income was −$437M, an operating margin of −1.3%, and net income was $57M. Operating cash flow of $2.9B less capital expenditure of $2.3B left free cash flow of $627M. Net debt was $15.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Revenue | $27.8B | $28.5B | $29.1B | $30.1B | $34.3B |
| Research & development | $2B | $2B | $2.3B | $2.2B | $2.5B |
| Selling, general & admin | $4.9B | $4.9B | $5.2B | $4.9B | $5.7B |
| Operating income | $1.1B | $782M | $2.1B | $2.2B | −$437M |
| Interest expense | $501M | $471M | $709M | $777M | $1.1B |
| Pre-tax income | $3.6B | $876M | $2.2B | $3B | −$285M |
| Income tax | $160M | $8M | $205M | $374M | −$342M |
| Net income | $3.4B | $868M | $2B | $2.6B | $57M |
| Diluted EPS | 2.58 | 0.66 | 1.54 | 1.93 | −0.04 |
| Diluted shares | 1,330M | 1,322M | 1,316M | 1,337M | 1,324M |
Balance sheet
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $4B | $4.2B | $4.3B | $14.8B | $5.8B |
| Receivables | $4B | $4.1B | $3.5B | $3.6B | $5.3B |
| Inventory | $4.5B | $5.2B | $4.6B | $7.8B | $6.4B |
| Current assets | $18.9B | $20.5B | $18.9B | $33.5B | $25B |
| Net PP&E | $5.6B | $5.8B | $6B | $5.7B | $6B |
| Goodwill | $18.3B | $17.4B | $18B | $18.1B | $23.8B |
| Total assets | $57.7B | $57.1B | $57.2B | $71.3B | $75.9B |
| Payables | $7B | $8.7B | $7.1B | $11.1B | $7.7B |
| Deferred revenue | $3.4B | $3.5B | $3.7B | $3.9B | $5.4B |
| Current liabilities | $20.7B | $23.2B | $21.9B | $26B | $24.6B |
| Short-term debt | $2.6B | $3.9B | $4B | $4B | $3.8B |
| Long-term debt | $9.9B | $7.9B | $7.5B | $13.5B | $17.8B |
| Shareholders' equity | $20B | $19.9B | $21.2B | $24.8B | $24.7B |
| Backlog (remaining obligations) | $6.4B | – | – | $7.5B | $10.3B |
Cash flow
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $5.9B | $4.6B | $4.4B | $4.3B | $2.9B |
| Capital expenditure | $2.5B | $3.1B | $2.8B | $2.4B | $2.3B |
| Free cash flow | $3.4B | $1.5B | $1.6B | $2B | $627M |
| Depreciation & amortisation | $2.6B | $2.5B | $2.6B | $2.6B | $2.7B |
| Stock-based compensation | $382M | $391M | $428M | $430M | $643M |
| Acquisitions | $505M | $0 | $761M | $147M | $12.3B |
| Share buybacks | $213M | $512M | $421M | $150M | $202M |
| Dividends paid | $625M | $621M | $619M | $676M | $684M |
| Dividend per share | 0.48 | 0.48 | 0.48 | 0.52 | 0.52 |
Key ratios
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 2.6% | 2.2% | 3.4% | 13.8% |
| Operating income growth (YoY) | – | −30.9% | 167.1% | 4.8% | −120.0% |
| EPS growth (YoY) | – | −74.4% | 133.3% | 25.3% | −102.1% |
| Operating margin | 4.1% | 2.7% | 7.2% | 7.3% | −1.3% |
| Net margin | 12.3% | 3.0% | 7.0% | 8.6% | 0.2% |
| Return on equityBlank when equity is negative | 17.2% | 4.4% | 9.6% | 10.4% | 0.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 3.1% | 2.3% | 5.9% | 4.8% | −0.9% |
| Free cash flow margin | 12.1% | 5.2% | 5.5% | 6.6% | 1.8% |
| Cash conversion (CFO ÷ net income) | 1.71x | 5.29x | 2.19x | 1.68x | 51.2x |
| Receivable days | 52 | 53 | 44 | 43 | 56 |
| Interest cover | 2.26x | 1.66x | 2.95x | 2.82x | −0.40x |
| Debt ÷ equity | 0.63x | 0.59x | 0.54x | 0.70x | 0.87x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $8.5B | $7.6B | $7.2B | $2.6B | $15.8B |
| Current ratio | 0.91x | 0.88x | 0.87x | 1.29x | 1.01x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.