⚡What does HPE do, in 30 seconds?
HPE sells servers, data storage, network gear and cloud services to businesses and governments 1 1 1 45. It sold $34.3bn ✓ in FY2025, and the Server business made up 51% ✓ of that. In July 2025 it bought Juniper Networks for about $13.4 billion in cash 3.
📱What does HPE sell?
HPE reported its FY2025 sales in five parts, and Server was the biggest, at 51% ✓. Here is what each one is and who buys it. From November 2025, HPE reports three segments instead 27.
Server
General-purpose servers such as HPE ProLiant, plus systems for supercomputing, AI and data analysis, such as HPE Cray 1. Server brought in $17.6bn ✓ in FY2025. Its revenue rose 10.2% that year, mainly because average prices rose while fewer units were sold 3.
👥 Government and business customers 1. For AI, HPE focuses on sovereign and enterprise customers 4.
Networking
Wi-Fi access points, switches, routers and gateways, plus Mist and Aruba Central software to run and secure networks 1. Networking brought in $6.8bn ✓ in FY2025. Its revenue rose 51.1% in fiscal 2025, mainly because of Juniper Networks 3.
👥 Like the rest of HPE, its customers range from small firms to large companies and government bodies, reached directly and through resellers and distributors 45.
Hybrid Cloud
Data storage (the HPE Alletra family), private cloud through HPE GreenLake, and software for monitoring and disaster recovery 1. With GreenLake, customers run HPE technology on their own sites and pay per use 4. Hybrid Cloud brought in $5.5bn ✓ in FY2025.
👥 Companies that want to run cloud-style computing in their own data centers or at the edge 4.
Financial Services
Leasing, financing and pay-as-you-go plans for hardware, software and services from HPE and other makers 1. HPE also refurbishes customers' older equipment so it can be used again 5. Financial Services brought in $3.5bn ✓ in FY2025.
👥 Customers who pay for technology through leases or pay-per-use deals such as HPE GreenLake 1.
Corporate and other
Advisory and professional services, which help customers plan and install technology, plus Hewlett Packard Labs, HPE's research arm 1. This part brought in $0.8bn ✓ in FY2025. Its revenue fell 23.5% in fiscal 2025, mainly because HPE sold its CTG business in December 2024 3.
👥 Customers that want help planning and setting up their technology 1.
How the mix has shifted
Where the customers are
The United States is HPE's biggest single market, at 39% ✓ of FY2025 sales. About 61% of fiscal 2025 revenue came from outside the United States 23. Europe, the Middle East and Africa added 34% ✓, Asia Pacific and Japan 20% ✓, and the rest of the Americas 7% ✓.
💸How does HPE make money?
Follow the money from left to rightfrom top to bottom: what customers pay for, what it costs to make, and what is left as profit.
FY2025: HPE made a loss, so there was no profit left to follow and no money map is drawn for that year.
HPE sold $34.3bn ✓ of products and services in FY2025. Making and delivering them cost $23.9bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $10.4bn ✓.
Next come the costs of running the company. Research and development took $2.5bn ✓, and sales, marketing and admin took $5.7bn ✓. Other operating costs took another $2.6bn ✓. Together these were more than gross profit, so operating profit was -$0.4bn ✓, a loss on the main business. Income from outside the main business added $0.2bn ✓. Tax was -$0.3bn ✓, which means a tax credit, not a bill. That left net income of just $0.1bn ✓, or 0.2% ✓ of sales.
Out of every $100 customers paid in FY2025…
Other income, gains and a tax credit added +$1 for every $100 of sales, so the slices above add up to a little more than $100.
⏱️ HPE by the clock
Spread the FY2025 totals evenly over its 365 days and you get this. Source: Hewlett Packard Enterprise Co 10-K [6].
📈How is HPE doing?
HPE grew slowly over ten years and FY2025 ended with a loss on its main business, though the latest four quarters were much stronger. From FY2015 to FY2025, sales grew 1.0% ✓ a year on average, rising in 6 ✓ of the 10 ✓ yearly changes. In FY2025, sales jumped 13.8% ✓ to $34.3bn ✓. But operating margin fell from 7.3% ✓ in FY2024 to -1.3% ✓, and gross margin slipped from 32.8% ✓ to 30.3% ✓. Server gross profit fell 8.3% in fiscal 2025, on higher input costs and more lower-margin products 3. Hybrid Cloud gross profit fell 2.5% in fiscal 2025 as HPE moved its storage to the HPE Alletra platform 3.
After buying Juniper Networks, HPE carries more debt than normal, and it says paying debt down is a priority 5. At the end of FY2025, net cash, meaning cash and investments minus borrowings, was -$16.6bn ✓. By 31 July 2026, it was -$14.0bn ✓.
The latest four quarters, to 31 July 2026, look much better. Sales reached $41.9bn ✓, up 26.6% ✓ on the four quarters before, and operating margin was 6.2% ✓. Free cash flow was $4.2bn ✓. In the quarter to 31 July 2026, revenue was a record $12.2 billion, up 34% from a year earlier 25. HPE says that growth came mainly from higher average prices in Cloud & AI and from Juniper Networks 27.
📝 The report card
HPE gets a fair mark for growth and a good one for steadiness, but low marks for profit, cash and its balance sheet. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where HPE (orange) and its 5 peers land; further right is better.
Growth
HPE's sales grew 6.4% ✓ a year over its last three fiscal years, which earns a C ✓ on the fixed scale. That beats the 3.6% ✓ peer median, but trails Arista's 27.1% ✓ and Super Micro's 76.3% ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, HPE kept 4.1% ✓ of sales as operating profit, which earns an F ✓. The FY2025 operating margin of -1.3% ✓ pulled it down. Dell kept 6.7% ✓, while Arista kept 41.4% ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, HPE turned 4.5% ✓ of sales into free cash flow, an F ✓. Free cash flow fell to $0.6bn ✓ in FY2025, from $2.0bn ✓ in FY2024. Dell managed 5.5% ✓ and Cisco 20.9% ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
At the end of FY2025, HPE's cash and investments minus its borrowings (leases not counted) equalled -48.4% ✓ of a year's sales, an F ✓. HPE owed far more than it held, with net cash of -$16.6bn ✓ at that date. Dell sat at -17.6% ✓, while Arista held more cash than debt, at 119.3% ✓.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
HPE's yearly growth rates swing less than most peers', with a standard deviation of 6.4% ✓, which earns a B ✓. Only Cisco is steadier, at 5.9% ✓, while Super Micro's figure is 35.9% ✓.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how HPE compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
HPE has paid out more cash to its owners than it made in free cash flow. From FY2015 to FY2025, it spent $18.7bn ✓ on buybacks and dividends, against $10.3bn ✓ of free cash flow. In FY2025, payouts were 141% ✓ of free cash flow. In the nine months to 31 July 2026, HPE bought back 16.5 million of its shares for $450 million 27.
🧮Ratios 101: what are HPE's key financial ratios?
Ratios turn HPE's results into easy comparisons, and several look odd for FY2025 because profit was so small. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with HPE's real FY2025 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 30.3% ✓, down from 33.2% ✓ in FY2015, HPE is above the 20.6% ✓ peer median but far below Cisco's 64.5% ✓.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 HPE's -1.3% ✓ means its main business lost money in FY2025. It was 6.3% ✓ in FY2015, and the peer median is 7.2% ✓.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 HPE kept just 0.2% ✓ of sales as final profit, down from 7.9% ✓ in FY2015 and well below the 5.7% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE fell to 0.2% ✓ from 7.3% ✓ in FY2015, far below the 26.4% ✓ peer median, because profit was so small.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 0.1% ✓ compares with 3.1% ✓ in FY2015 and a 7.4% ✓ peer median.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 HPE's sales are 0.5x ✓ the value of everything it owns, up from 0.4x ✓ in FY2015 but below the 1.1x ✓ peer median. Its financing arm alone had $13.2 billion of net portfolio assets at 31 October 2025 22.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 HPE holds 97 ✓ days of stock, up from 39 ✓ days in FY2015 and just above the peer median of 93 ✓ days. HPE says its inventory has been higher than normal, partly because of frequent part changes and new GPU generations 27.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 At 1.0x ✓, HPE's short-term assets just cover its bills due within a year. That is down from 1.4x ✓ in FY2015 and close to the 0.9x ✓ peer median.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Debt to equity rose to 0.9x ✓ from 0.5x ✓ in FY2015, well above the 0.3x ✓ peer median. After buying Juniper Networks, HPE carries more debt than normal 5.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Interest cover was -0.4x ✓ in FY2025, as operating profit of -$0.4bn ✓ could not pay $1.1bn ✓ of interest. In FY2015 it was 7.8x ✓.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Free cash flow of $0.6bn ✓ was 11.0x ✓ net income of $0.1bn ✓. That looks strong, but it mostly shows how small profit was. The peer median is 1.1x ✓.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
R&D intensity
How much of each sales dollar goes into inventing future products.
👉 HPE spends 7.3% ✓ of sales on R&D, up from 5.4% ✓ in FY2015 and above the 2.9% ✓ peer median, though below Cisco's 15.1% ✓.
📏 Rule of thumb: Tech companies often spend 10% to 20%; more is not always better if it does not pay off.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is 1.9% ✓ of sales, close to 1.8% ✓ in FY2015 and above the 1.1% ✓ peer median.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 HPE paid out 1554.4% ✓ of FY2025 profit, because profit was tiny. The peer median payout of profit is 76.6% ✓. Measured against free cash flow, HPE's payouts were 141% ✓.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are HPE's competitors?
HPE meets different rivals in each business. Dell and Super Micro compete with it in servers, while Cisco and Arista compete with it in networking 1213 1220 1218 1219. HP Inc. was once part of the same company, and neither names the other as a main rival 14151617.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Hewlett Packard Enterprise (HPE, FY2025) | Servers, storage, networking, hybrid cloud and IT financing 1 1 1 1 | $34.3bn | 6.4% | -1.3% | 1.8% |
| Dell Technologies (DELL, FY2026) | Servers (including AI servers), storage and networking; HPE names Dell a primary rival 1213 | $113.5bn | 3.5% | 7.2% | 7.5% |
| HP Inc. (HPQ, FY2025) | Kept PCs and printers when the old company split; not a main rival 14151617 | $55.3bn | -4.2% | 5.7% | 5.1% |
| Cisco (CSCO, FY2026) | Switches, routers, wireless and security; each names the other a competitor 1218 | $63.3bn | 3.6% | 24.3% | 20.2% |
| Arista Networks (ANET, FY2025) | Data center and campus switches and routing; each names the other a competitor 1219 | $9.0bn | 27.1% | 42.8% | 47.2% |
| Super Micro Computer (SMCI, FY2026) | Servers, including AI and supercomputing systems; each names the other a main rival 1220 | $39.1bn | 76.3% | 7.1% | -17.8% |
In some regions, HPE's servers also compete with local companies and with makers of generic white-box servers 12. HPE says its markets have strong long-standing rivals and many fast-growing new firms 12.
🧭HPE SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- HPE GreenLake and networking deals are generally multiyear contracts that bring recurring revenue 21.
- Networking grew to 20% ✓ of FY2025 sales, from 15% ✓, mainly because of Juniper Networks 3.
- In the quarter to 31 July 2026, Networking earned a 22.0% operating margin 25.
- Yearly sales growth swings by 6.4% ✓, which earns a B ✓ on the fixed scale.
🩹 Weaknesses
- The main business lost money in FY2025, with an operating margin of -1.3% ✓.
- After buying Juniper Networks, HPE carries a larger-than-normal debt load 5.
- HPE relies on contract makers and builds only a limited number of finished products itself 5.
- One distributor made up about 10% of HPE's fiscal 2025 revenue 4.
🚀 Opportunities
- HPE expects Data Center Networking revenue to grow at an average yearly rate in the low-to-high 50s percent through fiscal 2029 26.
- In September 2026, HPE announced a $1.2 billion order from cloud provider Vultr for AMD Helios AI racks 26.
- HPE raised its target for yearly cost savings from the Juniper deal to $800 million by the end of fiscal 2028 26.
- HPE gave Oracle a warrant for HPE shares, tied to Oracle buying HPE network gear for its AI data centers 27.
⚠️ Threats
- HPE says a worldwide memory chip shortage, driven by AI data centers, limited its supply in fiscal 2026 27. It expects the shortage to continue in the medium term 27.
- HPE says tariffs and trade uncertainty have raised the prices of parts and finished products 27.
- Demand for HPE's AI systems is uneven, because large deals are lumpy and cause swings from quarter to quarter 5.
- HPE competes on price as well as technology, and expects to keep adjusting prices on many products 12.
🏰Does HPE have a moat?
Why 3?
HPE GreenLake and networking deals are generally multiyear agreements 21. Its financing arm helps make pay-per-use deals possible by spreading HPE's upfront costs over the contract 5. HPE's annualized revenue run-rate (ARR) was $3.2 billion in the fourth quarter of fiscal 2025, up 63%, mainly from Networking after the Juniper deal 223.
Why 1?
HPE sells through a large network of partners, and GreenLake lets partners offer their own solutions on it 5. But one more buyer of a server or switch does not make HPE's gear more useful to anyone else, so the effect is weak.
Why 2?
HPE relies on contract makers and builds only a limited number of finished products itself 5. Key chips come from suppliers such as Intel, AMD and NVIDIA, which supply the whole market 5. In fiscal 2025, Server gross profit fell 8.3% on higher input costs and more lower-margin products 3. In some regions it also faces makers of generic white-box servers 12.
Why 2?
HPE had about 21,000 issued and pending patents at 31 October 2025, but says no single patent is essential 23. It spent $2.5 billion on research and development in fiscal 2025 23. To settle a US challenge to the Juniper deal, it agreed to license the Mist AI network software code to up to two buyers 24.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is HPE; grey dots are peers).
🔭What should you watch next?
Payouts to shareholders
HPE planned to return at least 75% of its fourth-quarter fiscal 2026 free cash flow to shareholders 25.
Memory chip shortage
HPE said a worldwide memory shortage, driven by AI data centers, limited its supply in fiscal 2026, and it expects this to continue in the medium term 27.
Juniper cost savings
HPE's target is $800 million of yearly cost savings from the Juniper deal by the end of fiscal 2028 26.
Preferred stock conversion
HPE's Series C mandatory convertible preferred stock is expected to turn into common shares on 1 September 2027 24.
📚Learn the words
❓Frequently asked questions about HPE
How does HPE make money?
HPE makes most of its money selling servers to businesses and governments. In FY2025, Server brought in $17.6bn ✓ of its $34.3bn ✓ in sales. Networking, Hybrid Cloud and Financial Services make up most of the rest.
Is HPE the same company as HP?
No, they are separate companies. HPE split from HP Inc. on 1 November 2015 21. HP Inc. kept PCs and printers, while HPE sells servers, storage, networking and cloud services to businesses 14151617.
Why did HPE make an operating loss in FY2025?
Its running costs were bigger than its gross profit. Gross profit was $10.4bn ✓, but research, sales, admin and other operating costs came to more, so operating profit was -$0.4bn ✓. Gross margin also slipped to 30.3% ✓ from 32.8% ✓.
What is HPE GreenLake?
HPE GreenLake is HPE's hybrid cloud platform. Customers run HPE technology in their own data centers or at the edge and pay per use 4. GreenLake deals are generally multiyear agreements 21.
How much did HPE pay for Juniper Networks?
HPE paid about $13.4 billion in cash and completed the deal on 2 July 2025 3. In fiscal 2025, Juniper added $1,367 million of product revenue and $729 million of service revenue 3.
Who are HPE's biggest competitors?
In servers, HPE names Dell and Super Micro as main rivals 1213 1220. In networking, it competes with Cisco and Arista 1218 1219.
Is HPE's revenue growing?
Yes. In the four quarters to 31 July 2026, sales rose 26.6% ✓. In FY2025 they rose 13.8% ✓. HPE expected fiscal 2026 revenue to grow 34% to 37% 25.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [6] [7] [8] [9] [10] [11].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. Which part of HPE made the most sales in FY2025?
2. Which company did HPE buy in July 2025?
3. Which company did HPE split from in 2015?
4. What does HPE GreenLake let customers do?
5. How did HPE's main business do in FY2025?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials are taken from SEC filings (10-K and 10-Q) as tagged in XBRL. Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 1 segment descriptions (Server, Hybrid Cloud, Networking, Financial Services, Corporate Investments and Other) and segment realignment (accessed 2026-10-29)
- Hewlett Packard Enterprise (HPE) Form 10-K for fiscal year 2025, filed 2025-12-18 — revenue and cost of sales by product, segment and geography (accessed 2026-10-28)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 7 MD&A: Juniper Networks merger and fiscal 2025 segment results (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Cover (incorporation, address, fiscal year end); Item 1 overview, strategy, segment list, product classes over 10% of revenue, distributor (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 1 strengths, sales and distribution, manufacturing and materials, backlog (accessed 2026-10-29)
- SEC EDGAR companyfacts: Hewlett Packard Enterprise (HPE) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Dell Technologies Inc. (DELL) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: HP INC (HPQ) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: CISCO SYSTEMS, INC. (CSCO) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Arista Networks, Inc. (ANET) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Super Micro Computer, Inc. (SMCI) — annual 10-K facts (accessed 2026-10-28)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 1 competition (accessed 2026-10-29)
- Dell Technologies Form 10-K for fiscal year 2026 — Infrastructure Solutions Group offerings (accessed 2026-10-29)
- HP Inc. Form 10-Q for the quarter ended 2026-07-31 (filed 2026-08-27) — Separation of Hewlett Packard Enterprise on 2015-11-01 and cross-indemnities (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 (filed 2025-12-18) — Item 1 business description, segments and primary competitors; separation from HP Inc. on 2015-11-01; shared legacy branding (accessed 2026-10-29)
- HP Inc. Form 10-K for fiscal year 2025 (filed 2025-12-10) — Item 1 competition: Personal Systems and Printing competitors, competitive advantages, non-original supplies, price adjustments (accessed 2026-10-29)
- HP Inc. Form 10-K for fiscal year 2025 (filed 2025-12-10) — Item 1A risk factors: big tank printer economics, technological protection of supplies, printing demand trends, tariffs since April 2025, shared legacy branding with HPE, revenue outside the US, rivals' economies of scale (accessed 2026-10-29)
- Cisco Systems Form 10-K for fiscal year 2026 — Item 1 competition (accessed 2026-10-29)
- Arista Networks Form 10-K for fiscal year 2025 — Item 1 business and competition (accessed 2026-10-29)
- Super Micro Computer Form 10-K for fiscal year 2026 — Item 1 competition (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 1A risk factors: as-a-service agreements, separation from HP Inc. and shared branding (accessed 2026-10-29)
- Hewlett Packard Enterprise 8-K, exhibit 99.1: fourth quarter fiscal 2025 results (December 4, 2025) — Q4 fiscal 2025 results, annualized revenue run-rate, Financial Services portfolio, dividend (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 1 international sales, research and development, patents and licenses (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Notes: litigation (DOJ action on the Juniper Networks merger) and Series C mandatory convertible preferred stock (accessed 2026-10-29)
- Hewlett Packard Enterprise 8-K, exhibit 99.1: third quarter fiscal 2026 results (September 2, 2026) — Q3 fiscal 2026 results, segment revenue, dividend, fiscal 2026 and 2027 outlook, free cash flow definition (accessed 2026-10-29)
- Hewlett Packard Enterprise 8-K, exhibit 99.1: HPE Networking Investor Day (September 30, 2026) — Networking outlook, Juniper cost synergy target, Vultr order (accessed 2026-10-29)
- Hewlett Packard Enterprise Form 10-Q for the quarter ended July 31, 2026 — Segment realignment, H3C share sales, DOJ settlement ruling, Oracle warrant, share repurchases, debt, supply chain and trends (accessed 2026-10-29)
- SEC EDGAR companyfacts: Hewlett Packard Enterprise (HPE) — quarterly 10-Q/10-K facts (accessed 2026-10-28)
- Hewlett Packard Enterprise Form 10-K for fiscal year 2025 — Item 1 human capital resources and executive officers (accessed 2026-10-29)
- SEC EDGAR companyfacts: Hewlett Packard Enterprise (HPE) — balance sheet at 2026-07-31 (accessed 2026-10-28)