Hewlett Packard Enterprise vs Supermicro
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KIRA’s take AI analyst
I put Hewlett Packard Enterprise and Supermicro side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
- Hewlett Packard Enterprise turned more of its sales into free cash flow (1.8% FCF margin, against −17.9%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Hewlett Packard Enterprise
HPE
2/7
FCF marginShare count change
Supermicro
SMCI
5/7
Revenue growth5-year growthOperating marginNet marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | HPE FY25 | SMCI FY26 |
|---|---|---|
| Size | ||
| Market cap | $85.1B | $22.8B |
| 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 | 30.4x | — |
| Piotroski F-score | 4 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.