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Hewlett Packard Enterprise key statistics and ratios

In fiscal 2025, Hewlett Packard Enterprise had return on equity of 0.2%, an operating margin of -1.3%, debt equal to 106.8% of equity and a current ratio of 1.01. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2013Oct 20132014Oct 20142015Oct 20152016Oct 20162017Oct 20172018Oct 20182019Oct 20192020Oct 20202021Oct 20212022Oct 20222023Oct 20232024Oct 20242025Oct 2025LTMJul 2026
Operating margin5.1%4.2%6.3%12.9%2.0%5.6%4.4%−1.2%4.1%2.7%7.2%7.3%−1.3%6.2%
Net margin3.6%3.0%7.9%10.4%1.2%6.2%3.6%−1.2%12.3%3.0%7.0%8.6%0.2%6.7%
Free-cash-flow margin10.9%6.0%1.0%5.9%−6.2%0.0%3.9%−0.5%12.1%5.2%5.5%6.6%1.8%9.9%
Return on equity5.3%4.4%7.0%9.7%1.3%21.6%18.5%−1.9%19.0%4.4%9.9%11.2%0.2%10.9%
Return on assets—2.5%3.4%4.0%0.5%4.7%2.9%−0.6%6.1%1.5%3.5%4.0%0.1%3.5%
Asset turnover—0.850.430.380.410.750.810.510.500.500.510.470.470.53
Current ratio—1.111.361.281.131.000.790.880.910.880.871.291.011.11
Debt to equity0.0%3.8%47.1%49.9%59.8%—101.0%122.7%85.1%86.0%81.3%90.3%106.8%76.4%
Interest cover (operating income ÷ interest)8.0x7.3x7.8x7.1x0.9x2.8x2.1xn/m2.3x1.7x2.9x2.8xn/m—
Effective tax rate28.6%26.6%−36.4%16.1%——32.5%—4.5%0.9%9.2%12.7%—−6.0%
R&D as % of revenue3.4%4.0%5.4%5.7%5.2%5.4%6.3%6.9%7.1%7.2%8.1%7.5%7.3%8.8%
SG&A as % of revenue15.0%15.8%16.5%17.8%17.4%16.0%16.8%17.1%17.7%17.3%17.7%16.2%16.6%17.0%
Capital spending as % of revenue4.4%6.6%10.8%10.8%10.9%9.6%9.8%8.8%9.0%11.0%9.7%7.9%6.7%6.1%
Free cash flow ÷ net income304.3%199.7%12.9%56.2%−523.8%0.4%108.8%—98.3%169.5%79.0%76.5%>999%148.9%
Dividends ÷ net income———11.8%124.4%29.9%58.0%—18.2%71.5%30.6%26.2%>999%26.5%
Dividends and buybacks ÷ free cash flow—0.0%0.0%170.9%—>999%250.4%—24.9%77.0%65.0%41.8%141.3%30.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 5 checks passed · July 31, 2026
What it owns · $83.6bn
Short-term assets $33.9bnLonger-term assets $49.7bn
What it owes, and who funded it · $57.0bn
Short-term liabilities $30.4bnShareholders' equity $26.5bn
  • Short-term assets cover short-term liabilities $33.9bn of assets due within a year against $30.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $6.2bn of cash against $20.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 76% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 51% to 76% over five years.
  • A year's operating cash flow covers at least 20% of debt $6.7bn of operating cash flow against $20.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Hewlett Packard Enterprise's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

27 /100

Weak moat

How hard Hewlett Packard Enterprise's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.9% of total assets over 10 years.

  • Durability 0 / 20

    Operating margin has been a median 4.3%; its worst year was -0.1%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 8 of 10 years, at a median 3.9% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 2.4% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (32 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Hewlett Packard Enterprise's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Hewlett Packard Enterprise.