Total debt has escalated to $21.2 billion as of 2026Q2, while goodwill has surged to $29.6 billion, representing a significant portion of the $79.5 billion total asset base.
| Metric | TTM | Oct'25 | Oct'24 | Oct'23 | Oct'22 | Oct'21 | Oct'20 | Oct'19 | Oct'18 | Oct'17 | Oct'16 | Oct'15 | Oct'14 | Oct'13 |
|---|
| Total Current Assets | 29.36B | 24.99B | 33.46B | 18.95B | 20.51B | 18.88B | 16.56B | 15.14B | 17.27B | 21.44B | 28.92B | 29.96B | 22.03B | 24.38B |
| Cash & Short-Term Investments | 5.29B | 5.77B | 14.85B | 4.27B | 4.16B | 4B | 4.62B | 3.75B | 4.88B | 9.58B | 12.99B | 9.84B | 2.32B | 2.18B |
| Cash Only | 5.29B | 5.77B | 14.85B | 4.27B | 4.16B | 4B | 4.62B | 3.75B | 4.88B | 9.58B | 12.99B | 9.84B | 2.32B | 2.18B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 9.98B | 9.12B | 7.42B | 7.02B | 7.62B | 7.91B | 7.87B | 6.53B | 8.94B | 8.46B | 8.26B | 14.99B | 13.34B | 14.57B |
| Days Sales Outstanding | 87.54 | 97.02 | 90.07 | 88.08 | 98.99 | 103.63 | 106.57 | 82.45 | 105.71 | 106.64 | 99.4 | 105.53 | 88.32 | 92.78 |
| Inventory | 9.03B | 6.35B | 7.81B | 4.61B | 5.16B | 4.51B | 2.67B | 2.39B | 2.45B | 2.31B | 1.77B | 2.2B | 1.88B | 2.08B |
| Days Inventory Outstanding | 103.09 | 94.9 | 138.95 | 87.65 | 97.69 | 87.76 | 51.66 | 43.76 | 40.76 | 41.22 | 31.16 | 21.1 | 17.02 | 17.7 |
| Other Current Assets | 5.05B | 3.75B | 3.38B | 3.05B | 3.56B | 2.46B | 1.34B | 6.05B | 210M | 14M | 5B | 1.67B | 1.52B | 2.22B |
| Total Non-Current Assets | 50.15B | 50.91B | 37.8B | 38.2B | 36.62B | 38.82B | 37.46B | 36.66B | 38.22B | 39.96B | 50.76B | 50.1B | 43.04B | 44.4B |
| Property, Plant & Equipment | 5.6B | 6B | 7.07B | 6.97B | 6.64B | 6.5B | 6.55B | 6.05B | 6.14B | 6.27B | 6.38B | 9.89B | 8.52B | 8.51B |
| Fixed Asset Turnover | 6.58x | 5.71x | 4.25x | 4.18x | 4.23x | 4.29x | 4.11x | 4.77x | 5.03x | 4.62x | 4.76x | 5.24x | 6.47x | 6.74x |
| Goodwill | 29.65B | 23.77B | 18.09B | 17.99B | 17.4B | 18.31B | 18.02B | 18.31B | 17.54B | 17.52B | 24.18B | 27.26B | 25.96B | 25.95B |
| Intangible Assets | 0 | 6.37B | 510M | 654M | 733M | 1.02B | 1.1B | 1.13B | 789M | 1.04B | 1.08B | 1.93B | 2.06B | 2.94B |
| Long-Term Investments | 3.79B | 955M | 929M | 2.2B | 2.16B | 2.21B | 2.17B | 2.25B | 2.4B | 2.54B | 2.65B | 0 | 0 | 0 |
| Other Non-Current Assets | 13.99B | 13.82B | 8.81B | 8.13B | 7.56B | 8.76B | 7.84B | 7.4B | 8.96B | 7.94B | 22.12B | 6.95B | 5.76B | 6.16B |
| Total Assets | 79.51B | 75.91B | 71.26B | 57.15B | 57.12B | 57.7B | 54.02B | 51.8B | 55.49B | 61.41B | 79.68B | 81.27B | 65.07B | 68.78B |
| Asset Turnover | 0.50x | 0.45x | 0.42x | 0.51x | 0.49x | 0.48x | 0.50x | 0.56x | 0.56x | 0.47x | 0.38x | 0.64x | 0.85x | 0.83x |
| Asset Growth % | 58.53% | 6.52% | 24.69% | 0.05% | -1% | 6.82% | 4.27% | -6.65% | -9.63% | -22.93% | -1.96% | 24.89% | -5.39% | - |
| Total Current Liabilities | 26.98B | 24.64B | 25.97B | 21.88B | 23.17B | 20.69B | 18.74B | 19.16B | 17.2B | 18.92B | 22.53B | 22.15B | 19.76B | 20.91B |
| Accounts Payable | 11.31B | 7.73B | 11.06B | 7.14B | 8.72B | 7B | 5.38B | 5.59B | 6.09B | 6.07B | 4.95B | 5.83B | 4.89B | 4.33B |
| Days Payables Outstanding | 126.26 | 115.51 | 196.84 | 135.77 | 165 | 136.26 | 104 | 102.58 | 101.46 | 108.12 | 86.86 | 55.94 | 44.18 | 36.92 |
| Short-Term Debt | 3.01B | 4.61B | 4.74B | 4.87B | 4.61B | 3.55B | 3.75B | 4.42B | 2B | 3.85B | 3.2B | 691M | 894M | 1.06B |
| Deferred Revenue (Current) | 22.39B | 5.97B | 4.19B | 4.05B | 3.45B | 3.41B | 3.43B | 3.23B | 3.18B | 3.13B | 3B | 5.15B | 5.13B | 5.53B |
| Other Current Liabilities | 1.96B | 1.87B | 1.39B | 1.72B | 1.4B | 1.78B | 1.39B | 1.52B | 1.41B | 1.16B | 6.93B | 2.9B | 2.74B | 3.09B |
| Current Ratio | 1.09x | 1.01x | 1.29x | 0.87x | 0.88x | 0.91x | 0.88x | 0.79x | 1.00x | 1.13x | 1.28x | 1.35x | 1.11x | 1.17x |
| Quick Ratio | 0.75x | 0.76x | 0.99x | 0.66x | 0.66x | 0.69x | 0.74x | 0.67x | 0.86x | 1.01x | 1.20x | 1.25x | 1.02x | 1.07x |
| Cash Conversion Cycle | 64.37 | 76.42 | 32.18 | 39.96 | 31.68 | 55.13 | 54.23 | 23.64 | 45 | 39.74 | 43.7 | 70.69 | 61.17 | 73.55 |
| Total Non-Current Liabilities | 27.25B | 26.51B | 20.41B | 14.03B | 14.04B | 17B | 19.18B | 15.49B | 17.02B | 18.98B | 25.63B | 25.2B | 8.14B | 9.49B |
| Long-Term Debt | 18.24B | 17.76B | 13.5B | 7.49B | 7.85B | 9.9B | 12.19B | 9.39B | 10.14B | 10.18B | 12.17B | 15.1B | 485M | 617M |
| Capital Lease Obligations | 1.4B | 1.4B | 1.31B | 966M | 851M | 938M | 898M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 473M | 473M | 373M | 326M | 320M | 494M | 0 | 0 | 0 | 0 | 143M | 41M | 568M | 1.67B |
| Other Non-Current Liabilities | 9.01B | 1.9B | 1.65B | 1.97B | 2.06B | 2.69B | 3.31B | 3.35B | 4.24B | 6.31B | 10.94B | 5.3B | 3.98B | 4.02B |
| Total Liabilities | 54.22B | 51.15B | 46.38B | 35.91B | 37.21B | 37.68B | 37.92B | 34.65B | 34.22B | 37.9B | 48.16B | 47.35B | 27.9B | 30.4B |
| Total Debt | 21.25B | 24.08B | 19.82B | 13.52B | 13.48B | 14.58B | 17.03B | 13.82B | 12.14B | 14.03B | 15.69B | 15.79B | 1.38B | 1.68B |
| Net Debt | 15.95B | 18.3B | 4.97B | 9.24B | 9.32B | 10.58B | 12.41B | 10.07B | 7.26B | 4.45B | 2.71B | 5.95B | -940M | -507M |
| Debt / Equity | 0.84x | 0.97x | 0.80x | 0.64x | 0.68x | 0.73x | 1.06x | 0.81x | 0.57x | 0.60x | 0.50x | 0.47x | 0.04x | 0.04x |
| Debt / EBITDA | 4.76x | 5.50x | 3.96x | 2.69x | 3.12x | 3.04x | 4.07x | 2.89x | 2.45x | 2.77x | 2.52x | 2.20x | 0.17x | 0.20x |
| Net Debt / EBITDA | 3.57x | 4.18x | 0.99x | 1.84x | 2.16x | 2.21x | 2.97x | 2.11x | 1.47x | 0.88x | 0.43x | 0.83x | -0.12x | -0.06x |
| Interest Coverage | 10.52x | -0.63x | 25.63x | - | 1.84x | 26.99x | -0.73x | 5.93x | 1.92x | 1.55x | 13.95x | 51.69x | 50.87x | 72.78x |
| Total Equity | 25.35B | 24.75B | 24.88B | 21.24B | 19.91B | 20.02B | 16.1B | 17.15B | 21.27B | 23.5B | 31.52B | 33.92B | 37.17B | 38.38B |
| Equity Growth % | 14.22% | -0.51% | 17.15% | 6.68% | -0.54% | 24.36% | -6.14% | -19.39% | -9.49% | -25.42% | -7.08% | -8.75% | -3.13% | - |
| Book Value per Share | 17.70 | 18.70 | 18.61 | 16.14 | 15.06 | 15.05 | 12.44 | 12.55 | 13.70 | 14.04 | 18.12 | 18.49 | 20.36 | 21.02 |
| Total Shareholders' Equity | 25.29B | 24.69B | 24.82B | 21.18B | 19.86B | 19.97B | 16.05B | 17.1B | 21.24B | 23.47B | 31.45B | 33.53B | 36.78B | 37.99B |
| Common Stock | 13M | 13M | 13M | 13M | 13M | 13M | 13M | 13M | 14M | 16M | 17M | 38.55B | 39.02B | 39.68B |
| Retained Earnings | -2.21B | -2.81B | -2.07B | -3.95B | -5.35B | -5.6B | -8.38B | -7.63B | -5.9B | -7.24B | 2.78B | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2.72B | -2.75B | -2.98B | -3.08B | -3.1B | -2.92B | -3.94B | -3.73B | -3.22B | -2.9B | -6.6B | -5.01B | -2.25B | -1.7B |
| Minority Interest | 61M | 66M | 64M | 56M | 45M | 46M | 47M | 51M | 35M | 39M | 70M | 383M | 396M | 387M |
Elevated leverage and integration
As reported in recent financial statements, HPE's total debt has risen to $21.2 billion in 2026Q2, reflecting a significant increase from the $11.3 billion level observed in 2024Q2, which suggests that the company is increasingly relying on external financing to fund its aggressive inorganic growth strategy.
The rise in debt-to-equity to 0.84 indicates a meaningful shift in the capital structure that warrants close monitoring by investors. While some of this debt is tied to the Financial Services leasing business, the rapid expansion of the liability base suggests that the company's capacity for further debt-funded acquisitions may be reaching a point of constraint.
Based on the company's reported figures, goodwill has surged to $29.6 billion in 2026Q2, representing a substantial portion of the $79.5 billion total asset base, which indicates that the firm's valuation is increasingly sensitive to the successful integration of recent large-scale acquisitions like Juniper Networks.
The concentration of intangible assets suggests that the balance sheet is heavily reliant on the future performance of acquired entities rather than tangible infrastructure. Investors should consider the potential for future impairment charges if the synergies from these high-priced acquisitions fail to materialize as management anticipates.
According to quarterly balance sheet data, the current ratio has compressed to 1.09 in 2026Q2 from a peak of 1.33 in 2025Q1, suggesting that the company's immediate buffer against operational shocks has diminished as cash reserves are deployed toward strategic investments and debt service requirements.
The decline in cash to $5.3 billion from the $14.8 billion peak in 2024Q4 highlights the aggressive nature of recent capital allocation. This tightening liquidity profile may limit the company's flexibility to navigate cyclical downturns in the hardware market without resorting to additional financing.
As evidenced by the company's financial filings, retained earnings remain negative at -$2.2 billion in 2026Q2, which suggests that the firm's equity base is not currently supported by cumulative historical profitability, potentially masking underlying challenges in generating consistent shareholder value through core operations.
The persistent negative retained earnings, despite the company's scale, may indicate that past restructuring and divestiture activities have structurally impaired the equity account. This trend warrants further investigation into whether the current business model can generate sufficient organic returns to reverse this deficit over the long term.
Quick answers to the most common questions about buying HPE stock.
As of 2025, Hewlett Packard Enterprise Company (HPE) had total assets of $75.91B including $24.99B in current assets.
Hewlett Packard Enterprise Company (HPE) carries total debt of $24.08B, offset by $5.77B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hewlett Packard Enterprise Company (HPE) has total shareholders' equity (book value) of $24.69B ($18.70 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hewlett Packard Enterprise Company (HPE) reported a current ratio of 1.01x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.