Hewlett Packard Enterprise vs Sandisk
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KIRAβs take AI analyst
I put Hewlett Packard Enterprise and Sandisk side by side, using each oneβs latest annual report. Here is what stands out:
- Hewlett Packard Enterprise is the larger business, with $34.3B of revenue in fiscal 2025 against $20.2B for Sandisk, about 1.7 times as much.
- Sandisk grew revenue faster (175.3%, against 13.8%).
- Sandisk kept more of each dollar of sales as operating profit (61.2% operating margin, against β1.3%).
- Sandisk turned more of its sales into free cash flow (56.8% FCF margin, against 1.8%).
- Sandisk earned a higher return on the capital invested in it (105.9%, against β0.9%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Hewlett Packard Enterprise
HPE
1/9
Share count change
Sandisk
SNDK
8/9
Revenue growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | HPE FY25 | SNDK FY26 |
|---|---|---|
| Size | ||
| Market cap | $85.1B | $194.6B |
| Revenue | $34.3B | $20.2B |
| Free cash flow | $627M | $11.5B |
| Net income | $57.0M | $11.4B |
| Growth | ||
| Revenue growth | 13.8% | 175.3% |
| 5-year growth | 4.9% | β |
| Share count change | β1.0% | 6.9% |
| Profitability | ||
| Gross margin | β | 71.5% |
| Operating margin | β1.3% | 61.2% |
| Net margin | 0.2% | 56.5% |
| FCF margin | 1.8% | 56.8% |
| Return on capital | β0.9% | 105.9% |
| Return on equity | 0.2% | 91.6% |
| Balance sheet | ||
| Net debt | $20.6B | β$4.8B |
| Net debt / EBITDA | 9.0x | β0.4x |
| Dividends and buybacks | $886M | $4.5B |
| Valuation & quality | ||
| P/E | 30.4x | β |
| Piotroski F-score | 4 | 7 |
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.

