Hewlett Packard Enterprise Company (HPE)财务
NYSE · Technology · Computer Hardware · 员工67,000人 · CEO Antonio Fabio Neri
- 股价
- $55.09 -6.42%
- 市值
- $731亿
- 企业价值
- $872亿
- 最近财报
- Q3 '26 2026-09-03提交
- 下次财报
- 2026-12-03 EPS预期 $1.28
营收(TTM)$419亿+26.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)8.3%+2.1 百分点 对比去年同期营业利润 $34.6亿
净利润(TTM)$27.5亿+120.6% 对比去年同期税后,含营业外收益
自由现金流(TTM)$41.6亿+1,747.1% 对比去年同期资本支出 $25.4亿
稀释EPS(TTM)$1.92+143.0% 对比去年同期最近4个季度之和
净现金-$140亿+26.5% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $731亿 EV $872亿
- 营收
- $419亿 过去12个月
- 营收增速
- +36% FY2026年一致预期
- 净利润率
- 6.6% 净利润 / 营收,TTM
- P/E
- 27.4× 预期 14.4×(FY2026)
- P/S
- 1.7× 股价 / 营收,TTM
- EV / EBITDA
- 13.9× TTM
- 自由现金流
- $41.6亿 过去12个月
- 净利润
- $27.5亿 过去12个月
- 营收预期
- $466亿 FY2026年一致预期
- 盈利
- 2026-12-03 营收预期 $143亿
- 股息
- $0.57 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-09-02):营收超预期1.9%,EPS 超预期19.1%营收$122亿,预期$120亿(+1.9%);EPS $1.11,预期$0.93(+19.1%)。
- 营收增长加速:同比32.7%Q3 '26营收$122亿,此前四个季度的平均值为23.5%。
- 营业利润率8.3%(TTM),较去年同期+2.1 百分点营收增长26.6%,营业利润增长69.6%。
- 税前利润的31.5%被营业外亏损吞噬税前利润$26.3亿,营业利润$34.6亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的6.1%(去年为6.8%)最近4个季度投入$25.4亿(同比+12.4%)。自由现金流$41.6亿,相当于净利润的151.0%。
- 股东回报$13.2亿 = 自由现金流的31.6%回购$5.47亿(去年为$1.52亿),股息$7.68亿,股权激励$7.95亿(TTM)。
- 稀释股数一年内增加2.0%Q3 '26稀释股数14.5亿,一年前为14.2亿。
- 净债务 $140亿现金 + 短期投资 $62.2亿,含租赁债务 $202亿;一年前净债务 $191亿。
- Networking:营收+74.9%,利润率22.0%(此前为22.1%)Q3 '26增长最快的披露分部:营收$28.9亿,营业利润$6.37亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-07-31的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $122亿 | $92亿 | +32.7% |
| 毛利率 | 40.1% | 28.4% | +11.7 百分点 |
| 营业利润 | $13.9亿 | $4.94亿 | +182.0% |
| 营业利润率 | 11.4% | 5.4% | +6.0 百分点 |
| 净利润 | $15.4亿 | $3.05亿 | +404.9% |
| 稀释EPS | $1.06 | $0.19 | +457.9% |
| 经营现金流 | $16.4亿 | $13.1亿 | +25.7% |
| 资本支出 | $7.45亿 | $5.76亿 | +29.3% |
| 自由现金流 | $8.96亿 | $7.29亿 | +22.9% |
| R&D | $11.6亿 | $6.22亿 | +86.2% |
| 股权激励费用 | $1.65亿 | $1.77亿 | -6.8% |
实际 vs 一致预期
2026-09-02| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $122亿 | $120亿 | +1.9% |
| EPS(一致预期口径) | $1.11 | $0.93 | +19.1% |
来自2026-09-02发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Server Segment | $67.7亿 | +38.0% | 55.4% | $210亿 | +17.6% | |
| Networking | $28.9亿 | +67.0% | 23.7% | $134亿 | – | |
| Hybrid Cloud | – | – | – | – | – | |
| Storage Segment | $12.9亿 | – | 10.6% | – | – | |
| Financial Services | $8.83亿 | -0.5% | 7.2% | $35.5亿 | +1.3% | |
| Corporate Investments | $2.78亿 | +44.8% | 2.3% | $10.1亿 | +20.1% | |
| Other Segment | $1.02亿 | – | 0.8% | – | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas | $53.5亿 | +12.7% | 43.8% | $181亿 | +18.4% | |
| EMEA | $42亿 | +53.4% | 34.4% | $148亿 | +35.9% | |
| Asia Pacific and Japan | $26.7亿 | +61.1% | 21.8% | $89.2亿 | +30.1% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Cloud AI Segment | $90.4亿 | +25.4% | $15.4亿 | +205.4% | 17.0% | 7.0% | – |
| Server Segment | $67.7亿 | +35.3% | – | – | – | 6.3% | – |
| Networking | $28.9亿 | +74.9% | $6.37亿 | +74.5% | 22.0% | 22.1% | $25亿 |
| Networking Solutions | – | – | – | – | – | 20.8% | – |
| Hybrid Cloud | – | – | – | – | – | 6.1% | – |
| Intelligent Edge | – | – | – | – | – | – | – |
| Financial Services | $8.83亿 | -0.3% | – | – | – | 9.9% | – |
| Corporate And Other | $2.78亿 | +3.0% | -$6700万 | -252.6% | -24.1% | -7.0% | -$8600万 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $66.9亿
- 资本支出
- -$25.4亿
- 股票回购
- -$5.47亿
- 股息
- -$7.68亿
- 收购
- $3.22亿
- 债务净发行
- -$34.6亿
- 股权激励费用
- $7.95亿
- 自由现金流
- $41.6亿
- 股东回报 / FCF
- 31.6%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 27.4× | 11.7× 5年中的4年 | 5.7× – 21.3× |
| EV / EBITDA | 13.9× | 8.4× | 4.8× – 19.3× |
| EV / 营收 | 2.1× | 1.1× | 1.0× – 1.5× |
| 股价 / FCF | 17.6× | 19.1× | 5.8× – 51.6× |
| 股价 / 净资产 | 2.8× | 1.0× | 0.9× – 1.3× |
| FCF收益率 | 5.7% | 8.6% | 1.9% – 17.2% |
| 投入资本回报率 | 6.2% | 3.8% | -0.6% – 5.4% |
| 净资产收益率 | 10.9% | 8.3% | 0.2% – 17.2% |
分析师
一致目标价 $70.00 (+27.1%)
区间 $57.00 – $86.00 · 评级 Hold
强烈买入0
买入18
持有21
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $466亿 | +35.8% | $3.82 | +8,676.2% | 14.4× | 12 |
| FY2027 | $547亿 | +17.5% | $4.72 | +23.5% | 11.7× | 12 |
| FY2028 | $593亿 | +8.4% | $5.47 | +15.8% | 10.1× | 6 |
| FY2029 | $656亿 | +10.6% | $6.10 | +11.6% | 9.0× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Hewlett Packard Enterprise Company在近期10-Q / 10-K文件中标记的全部401项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $137亿 | $86.6亿 | +58.6% | $77.3亿 | $111亿 | -30.1% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $61.9亿 | $56.6亿 | +9.4% | $52.9亿 | $35.5亿 | +49.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1600万 | $1800万 | -11.1% | $2200万 | $1000万 | +120.0% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $58.2亿 | $52.6亿 | +10.7% | $49.2亿 | $32.4亿 | +51.9% |
| Accrued Income Taxes, Noncurrent | $1.83亿2025-10-31 | $1.63亿 | +12.3% | $1.83亿 | $1.63亿 | +12.3% |
| Accrued Marketing Costs, Current | $10.4亿2025-10-31 | $10.3亿 | +0.7% | $10.4亿 | $10.3亿 | +0.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $67.9亿 | – | – | $66.3亿 | $64.9亿 | +2.1% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$27亿 | -$30.2亿 | +10.6% | -$27.5亿 | -$29.8亿 | +7.7% |
| Additional Paid in Capital, Common Stock | $302亿 | $302亿 | -0.2% | $302亿 | $298亿 | +1.3% |
| Advertising Expense | – | – | – | $1.79亿 | $1.17亿 | +53.0% |
| Amortization of Intangible Assets | $3.15亿 | $1.26亿 | +150.0% | $5.11亿 | $2.67亿 | +91.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 1800万 | -100.0% | 1.38亿 | 0 | – |
| Assets | $836亿 | $773亿 | +8.1% | $759亿 | $713亿 | +6.5% |
| Assets Held-for-sale, Not Part of Disposal Group, Current | $02025-10-31 | $100万 | -100.0% | $0 | $100万 | -100.0% |
| Assets, Current | $339亿 | $260亿 | +30.2% | $250亿 | $335亿 | -25.3% |
| Assets, Fair Value Disclosure | $48.7亿 | – | – | $41.6亿 | $137亿 | -69.8% |
| Business Combination, Acquisition Related Costs | $7100万 | $1.81亿 | -60.8% | $4.58亿 | $2.11亿 | +117.1% |
| Capitalized Contract Cost, Amortization | $3000万 | $8800万 | -65.9% | $1.25亿 | $1.06亿 | +17.9% |
| Capitalized Contract Cost, Net, Current | $1.01亿 | $1.22亿 | -17.2% | $1.09亿 | $8800万 | +23.9% |
| Capitalized Contract Cost, Net, Noncurrent | $1.53亿 | $1.47亿 | +4.1% | $1.28亿 | $1.36亿 | -5.9% |
| Cash and Cash Equivalents, at Carrying Value | $62.2亿 | $45.7亿 | +36.0% | $57.7亿 | $148亿 | -61.1% |
| Cash and Cash Equivalents, Fair Value Disclosure | $44.7亿 | – | – | $37.4亿 | $132亿 | -71.8% |
| Cash Collateral for Borrowed Securities | $6800万 | $1.74亿 | -60.9% | $1.2亿 | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $62.8亿 | $47亿 | +33.7% | $58.6亿 | $151亿 | -61.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $9.24亿 | -$70.9亿 | +113.0% | -$92.5亿 | $105亿 | -187.9% |
| Common Stock, Dividends, Per Share, Declared | $0.14 | $0.13 | +9.6% | $0.52 | $0.52 | 0.0% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 96亿 | 96亿 | 0.0% | 96亿 | 96亿 | 0.0% |
| Common Stock, Shares, Issued | 13.3亿 | 13.2亿 | +0.7% | 13.2亿 | 13亿 | +1.6% |
| Common Stock, Shares, Outstanding | 13.3亿 | 13.2亿 | +0.7% | 13.2亿 | 13亿 | +1.6% |
| Common Stock, Value, Outstanding | $1300万 | $1300万 | 0.0% | $1300万 | $1300万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $15.6亿 | $3.75亿 | +314.7% | $2.86亿 | $26.9亿 | -89.4% |
| Contract with Customer, Liability | $103亿2025-10-31 | $74.8亿 | +38.2% | $103亿 | $74.8亿 | +38.2% |
| Contract with Customer, Liability, Current | $55.6亿 | $53.1亿 | +4.7% | $53.6亿 | $39亿 | +37.2% |
| Contract with Customer, Liability, Noncurrent | $49.8亿2025-10-31 | $35.8亿 | +39.2% | $49.8亿 | $35.8亿 | +39.2% |
| Contract with Customer, Liability, Revenue Recognized | $16亿 | $12亿 | +33.3% | $37亿 | $35亿 | +5.7% |
| Convertible Preferred Dividends, Net of Tax | $2900万 | $2900万 | 0.0% | $1.16亿 | $2500万 | +364.0% |
| Costs and Expenses | $108亿 | $88.9亿 | +21.7% | $347亿 | $279亿 | +24.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$1.54亿 | $800万 | -2,025.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.49亿 | $4.15亿 | -15.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2800万 | $1500万 | +86.7% |
| Debt and Lease Obligation | $224亿2025-10-31 | $182亿 | +23.1% | $224亿 | $182亿 | +23.1% |
| Debt Instrument, Fair Value Disclosure | $225亿2025-10-31 | $183亿 | +23.0% | $225亿 | $183亿 | +23.0% |
| Debt Instrument, Unamortized Discount | $4900万2025-07-31 | – | – | $5300万2024-10-31 | $400万 | +1,225.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $1.96亿2025-10-31 | $1.87亿 | +4.8% | $1.96亿 | $1.87亿 | +4.8% |
| Debt Securities, Available-for-sale | $2.17亿 | $9.55亿 | -77.3% | $1.17亿2024-10-31 | $1.19亿 | -1.7% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | $200万 | $100万 | +100.0% | $800万2024-10-31 | $0 | – |
| Debt Securities, Available-for-sale, Amortized Cost | $2.15亿 | $9.54亿 | -77.5% | $1.09亿2024-10-31 | $1.19亿 | -8.4% |
| Debt, Current | $29亿 | $68亿 | -57.3% | $46.1亿 | $47.4亿 | -2.8% |
| Debt, Long-term and Short-term, Combined Amount | $202亿 | $237亿 | -14.4% | – | – | – |
| Debt, Weighted Average Interest Rate | 4.4%2025-10-31 | 7.6% | -42.1% | 4.4% | 7.6% | -42.1% |
| Deferred Costs, Noncurrent | $20.7亿2025-10-31 | $15.6亿 | +33.4% | $20.7亿 | $15.6亿 | +33.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$3.45亿 | -$1.2亿 | -187.5% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$6600万 | $4400万 | -250.0% |
| Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge | $1700万2025-07-31 | – | – | $5800万2024-10-31 | $1.51亿 | -61.6% |
| Deferred Income Tax Assets, Net | $31.7亿 | $24.8亿 | +27.8% | $29.5亿 | $24亿 | +23.2% |
| Deferred Income Tax Expense (Benefit) | -$4700万 | -$3100万 | -51.6% | -$5.65亿 | -$6400万 | -782.8% |
| Deferred Income Tax Liabilities, Net | $4.56亿 | $4.28亿 | +6.5% | $4.73亿 | $3.73亿 | +26.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1.54亿 | $1200万 | -1,383.3% |
| Deferred Tax Assets, Deferred Income | $11.2亿2025-10-31 | $7.99亿 | +39.5% | $11.2亿 | $7.99亿 | +39.5% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-07-31, 10-Q 2026-04-30, 10-Q 2026-01-31, 10-K 2025-10-31, 10-Q 2025-07-31, 10-Q 2025-04-30, 10-Q 2025-01-31, 10-K 2024-10-31, 10-Q 2024-07-31
数据截至 2026-11-01