Hewlett Packard Enterprise Co
HPE - Insider Information
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+ FollowMarket Cap$73.13B
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Earnings Call Q3 2026
September 2, 2026 - AI Summary
Record Q3 results; strong profitability + cash
- Revenue: $12.2B, +34% YoY (high end of guidance range).
- Orders: +42% YoY; orders grew ~3.5x faster than revenue (demand > revenue due to supply constraints).
- Margins / profit: Gross margin 40% (record); Operating profit $2.0B (~2.5x YoY), Operating margin 16.2% (+290 bps sequentially).
- EPS: Non-GAAP EPS $1.11 (record; first time >$1 in a single quarter); GAAP EPS $1.06.
- Cash: Free cash flow $958M (highest Q3 ever); operating cash flow $1.6B.
Guidance raised for FY2026 and FY2027 (with clear numbers)
- Q4 outlook: Revenue $13.9B–$14.8B;
- Networking revenue: +11% to +13%
- Cloud & AI revenue: +60% to +72%
- EPS: $1.20–$1.30 (GAAP $1.12–$1.22).
- FY2026 outlook raised:
- Non-GAAP EPS: $3.75–$3.85 (up vs prior); GAAP EPS $2.93–$3.03.
- FY2026 Free cash flow: at least $3.75B.
- FY2027 “framework” (new): consolidated revenue +13% to +17%, networking +14% to +17%, Cloud & AI +14% to +18%, company operating margin 14%–15%, EPS $4.40–$4.60, and FCF ≥ $5B.
- Important assumption / surprise: AMD “Helios” opportunity is not embedded in FY2027 guidance yet (management expects to add later, after schedule firms up).
Networking growth is demand-led but supply constrained; AI networking is scaling
- Networking Q3: revenue $2.9B (+10% normalized YoY), but orders +36% → conversion constrained by supply.
- Networks for AI: orders $700M (triple digits); cumulative networks-for-AI orders $2.2B, exceeding the FY26 target → year-end target increased to $2.5B–$3.0B.
- Backlog: described as record and “highest ever”; management expects more order-to-revenue conversion in Q4 as supply improves.
- Supply response: purchase commitments more than doubled quarter-over-quarter; working with partners on multiyear supply agreements.
- Strategy catalyst (surprising/positive): broadened AI networking momentum plus Juniper integration synergies (networking operating margin in mid/high 20% range expected in FY27).
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$15.10
69.9% downside
Current Fair Value
69.9% downsideOvervalued by 69.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $73.13 Billion |
|---|---|
| Enterprise Value | $92.72 Billion |
| Annual dividend | $0.57 |
| Dividend yield | 1.03% |
| Earnings per Share | $-0.04 |
| Beta | 1.4 |
| Outstanding Shares | 1,336,000,000 |
Return
| Return on Equity | 10.27% |
|---|---|
| Return on Assets | 3.26% |
| Return on Invested Capital | 5.64% |
Valuation & Multiples
| P/E Ratio | 27.41 |
|---|---|
| PEG | 6.77 |
| Price to Sales | 1.62 |
| Price to Book Ratio | 2.64 |
| Enterprise Value to Revenue | 2.21 |
| Enterprise Value to EBIT | 30.95 |
| Enterprise Value to Net Income | 34 |
| Total Debt to Enterprise | 0.28 |
| Debt to Equity | 0.97 |
Revenue Sources
No data
Last Earnings Call
Report Date
September 2, 2026
EPS Estimate
$0.93
Consensus analyst estimateRevenue Estimate
$11.97 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 23, 2026
EPS Estimate
$1.27
Consensus analyst estimateRevenue Estimate
$14.39 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.51, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.5120▼ 29.98% |
|---|---|
| Total Calls | 822,200▼ 95.89% |
| Total Puts | 421,000▼ 97.41% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.35%▼ 85.85% |
|---|---|
| Total Invested | $2.86B▼ 94.67% |
| Investors Holding | 638▼ 887.00% |
About Hewlett Packard Enterprise Co
67,000 employees
CEO: Antonio Neri
Hewlett Packard Enterprise Company (HPE) delivers comprehensive solutions that enable clients worldwide to seamlessly capture, analyze, and act upon their data. Its operational reach extends across the Americas, Europe, the Middle East, ...