Hewlett Packard Enterprise
HPE · Technology Hardware, Storage & Peripherals
$56.69
2.2%Supermicro
SMCI · Technology Hardware, Storage & Peripherals
$32.94
2.3%The short version
- Supermicro is the larger business, with $39.1B of revenue in fiscal 2026 against $34.3B for Hewlett Packard Enterprise.
- Supermicro grew revenue faster (77.8%, against 13.8%).
- Supermicro kept more of each dollar of sales as operating profit (7.1% operating margin, against −1.3% operating margin).
- Hewlett Packard Enterprise turned more of its sales into free cash flow (1.8% FCF margin, against −17.9% FCF margin).
- Investors pay more for each dollar of Hewlett Packard Enterprise’s earnings: a P/E of 29.4x against 10.1x for Supermicro.
| Latest fiscal year | HPE · FY25 | SMCI · FY26 |
|---|---|---|
| Size | ||
| Market cap | $82.1B | $23.0B |
| Revenue | $34.3B | $39.1B |
| Free cash flow | $627M | −$7.0B |
| Net income | $57.0M | $2.2B |
| Growth | ||
| Revenue growth | 13.8% | 77.8% |
| 5-year growth | 4.9% | 61.5% |
| Share count change | −1.0% | 11.0% |
| Profitability | ||
| Gross margin | — | 10.8% |
| Operating margin | −1.3% | 7.1% |
| Net margin | 0.2% | 5.7% |
| FCF margin | 1.8% | −17.9% |
| Return on capital | −0.9% | — |
| Return on equity | 0.2% | 21.5% |
| Balance sheet | ||
| Net debt | $20.6B | — |
| Net debt / EBITDA | 9.0x | — |
| Dividends and buybacks | $886M | $0.0M |
| Valuation & quality | ||
| P/E | 29.4x | 10.1x |
| Piotroski F-score | 4 | — |
FY17
HPE $28.9B
SMCI $2.5B
FY18
HPE $30.9B
SMCI $3.4B
FY19
HPE $29.1B
SMCI $3.5B
FY20
HPE $27.0B
SMCI $3.3B
FY21
HPE $27.8B
SMCI $3.6B
FY22
HPE $28.5B
SMCI $5.2B
FY23
HPE $29.1B
SMCI $7.1B
FY24
HPE $30.1B
SMCI $15.0B
FY25
HPE $34.3B
SMCI $22.0B
FY26
HPE —
SMCI $39.1B
HPE
SMCI
FY17
HPE 2.0%
SMCI 3.8%
FY18
HPE 5.6%
SMCI 2.8%
FY19
HPE 4.4%
SMCI 2.8%
FY20
HPE −1.2%
SMCI 2.6%
FY21
HPE 4.1%
SMCI 3.5%
FY22
HPE 2.7%
SMCI 6.5%
FY23
HPE 7.2%
SMCI 10.7%
FY24
HPE 7.3%
SMCI 8.1%
FY25
HPE −1.3%
SMCI 5.7%
FY26
HPE —
SMCI 7.1%
HPE
SMCI
FY17
HPE −$1.8B
SMCI −$126M
FY18
HPE $8.0M
SMCI $59.5M
FY19
HPE $1.1B
SMCI $238M
FY20
HPE −$143M
SMCI −$74.7M
FY21
HPE $3.4B
SMCI $64.9M
FY22
HPE $1.5B
SMCI −$486M
FY23
HPE $1.6B
SMCI $627M
FY24
HPE $2.0B
SMCI −$2.6B
FY25
HPE $627M
SMCI $1.5B
FY26
HPE —
SMCI −$7.0B
HPE
SMCI
FY17
HPE 1.9%
SMCI —
FY18
HPE 6.3%
SMCI —
FY19
HPE 3.0%
SMCI —
FY20
HPE −0.9%
SMCI —
FY21
HPE 3.5%
SMCI —
FY22
HPE 2.4%
SMCI —
FY23
HPE 5.8%
SMCI —
FY24
HPE 5.8%
SMCI —
FY25
HPE −0.9%
SMCI —
FY26
HPE —
SMCI —
HPE
SMCI
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.