Hewlett Packard Enterprise

Hewlett Packard Enterprise (HPE) sells servers, networking equipment, storage, software and services to companies, governments and cloud providers, including systems for AI. It bought Juniper Networks on July 2, 2025 for about $13.4 billion in cash. It reports three segments: Networking, Cloud & AI, and Corporate Investments and Other. In Q3 of fiscal 2026, the quarter to July 31, 2026, revenue was $12.2 billion.

Cloud & AI gave $9.0 billion, of which servers gave $6.8 billion, storage $1.3 billion and financial services $0.9 billion. Networking gave $2.9 billion from campus and branch, data center networking, security and routing products. The fiscal year ends on October 31. The shares trade on the New York Stock Exchange.

The head office is in Spring, Texas, near Houston. Antonio Neri is President and Chief Executive Officer.

HPE trades below its intrinsic value because investors doubt that its record margins can last. In Q3 fiscal 2026, revenue rose 34% to $12.2 billion, the GAAP gross margin rose to 40.1% from 29.2% a year earlier, and non-GAAP diluted EPS rose to $1.11 from $0.44. HPE raised its fiscal 2026 outlook for non-GAAP diluted EPS to $3.75 to $3.85, from $2.25 to $2.45 in December 2025, while a worldwide shortage of memory chips makes component costs and supply hard to predict. For the gap to close, three things must be true.

HPE must reach its fiscal 2026 outlook in the Q4 report, expected in early December 2026. Fiscal 2027 must bring revenue growth of 13% to 17%, non-GAAP EPS growth of 16% to 20% and free cash flow of at least $5.0 billion, as HPE expects. Networking must keep an operating margin in the mid-to-high 20s percent, with Juniper cost savings of $800 million a year by the end of fiscal 2028. If HPE delivers this through fiscal 2027, the gap can close in one to two years.

1. Sep 2, 2026Passed

   Q3 fiscal 2026 results and outlookResults above the outlook range and a higher fiscal 2026 outlook pass; a lower outlook fails.Outcome: Non-GAAP diluted EPS was $1.11, above the outlook of $0.88 to $0.93, and HPE raised its fiscal 2026 and 2027 outlook.
2. Dec 2, 2026 · est.Pending

   Q4 fiscal 2026 results and fiscal 2027 guidanceQ4 non-GAAP diluted EPS of $1.20 or more and fiscal 2026 free cash flow of at least $3.75 billion pass; lower results fail.
3. Q2 2027 · est.Pending

   Margins in the first half of fiscal 2027A Networking operating margin in the mid-to-high 20s percent and a stable gross margin pass; a large fall in margins fails.

Every passed and failed checkpoint across all picks

• September 30, 2026At its Networking Investor Day, HPE raised its fiscal 2027 outlook for Networking revenue growth to the high teens to low 20s percent and its target for Juniper cost savings to $800 million a year by the end of fiscal 2028, from at least $600 million. It also received a $1.2 billion order from Vultr for AMD Helios AI racks.
• September 2, 2026HPE reported Q3 fiscal 2026 results. Revenue rose 34% to a record $12.2 billion, and non-GAAP diluted EPS rose to $1.11 from $0.44. Networking revenue rose 74.9% to $2.9 billion, and server revenue rose 35.3% to $6.8 billion. HPE raised its fiscal 2026 outlook for non-GAAP diluted EPS to $3.75 to $3.85 and expects fiscal 2027 revenue growth of 13% to 17%.
• July 2, 2026HPE gave Oracle a warrant to buy up to 4,156,466 HPE shares at $0.01 per share, in tranches that vest when Oracle buys products, as part of an agreement to use HPE networking in Oracle's AI data centers.

Last earnings

September 2, 2026 (8-K on sec.gov)

Next earnings

Expected about December 2, 2026. The company has not confirmed the date.

• 8-KInvestor disclosureFiled November 4, 2026 · hpe-20261104
• 8-KInvestor disclosureFiled September 30, 2026 · hpe-20260930
• 10-QQuarterly report for the period ended Jul 31, 2026Filed September 3, 2026 · hpe-20260731
• 8-KEarnings release and Investor disclosureFiled September 2, 2026 · Press release and exhibits
• 8-KInvestor disclosureFiled August 4, 2026 · hpe-20260804
• 8-KChange of directors or officers and Investor disclosureFiled July 24, 2026 · hpe-20260724
• 10-QQuarterly report for the period ended Apr 30, 2026Filed June 2, 2026 · hpe-20260430
• 8-KNew material agreement and Earnings releaseFiled June 1, 2026 · Press release and exhibits
• 8-KInvestor disclosureFiled May 14, 2026 · hpe-20260513
• 8-KInvestor disclosureFiled May 4, 2026 · hpe-20260504

Every filing on SEC EDGAR (CIK 1645590)

• A worldwide shortage of memory chips and other components affects costs and supply. HPE expects the shortage to continue in the medium term, and a change in memory prices can lower margins fast.
• Servers give most of the revenue. Large AI orders are uneven from quarter to quarter, and Dell, Supermicro and other makers compete strongly on price.
• Total debt was $20,244 million at July 31, 2026, partly from the purchase of Juniper Networks. Higher interest rates or lower cash flow can slow the reduction of debt.
• The integration of Juniper Networks must deliver the planned cost savings of $800 million a year by the end of fiscal 2028 without a loss of customers.
• The 7.625% Series C mandatory convertible preferred stock adds about 76 million shares to the diluted share count, and the Oracle warrant can add up to 4,156,466 shares.

HPE funds itself with bonds, commercial paper, asset-backed debt and cash flow. At July 31, 2026, cash and cash equivalents were $6,216 million. Read more

Dividend yield

1.2% (last 12 months, at today’s price of $47.93)

Paid per share

$0.572 in the last 12 months (4 payments)

Current annual rate

$0.572 ($0.143 × 4 a year)

Latest ex-dividend date

September 17, 2026, $0.143 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 2.1% a year. From 2015 to 2025, the dividend grew by about 32.5% a year.

Source: company filings and market data, read on November 11, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.