DELL vs HPE: Dell vs HPE Stock Comparison: AI Score, Valuation, Performance and Upside
Dell is the larger, more diversified IT hardware company with market-leading AI server share and a significant PC business. HPE is focused purely on enterprise infrastructure with a growing as-a-service model (GreenLake) and HPC/supercomputing heritage. Dell has AI server scale; HPE has GreenLake recurring revenue and HPC depth.
Use this DELL vs HPE comparison to evaluate two ways to invest in AI server infrastructure. Dell offers the broadest AI server portfolio and market share; HPE offers a hybrid cloud platform and HPC specialization.
DELL holds the edge across 3 of 5 key metrics in this comparison. DELL has delivered stronger 1-year price return (+351.43% vs +146.83%), though HPE has the better forward P/E setup (12.81x vs 17.51x for DELL). DELL leads on both revenue growth (87.50%) and operating margin (8.86%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for HPE (+24.92%) than for DELL (+20.46%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want the market-leading AI server vendor with the broadest NVIDIA GPU server portfolio
- Value Dell's diversified revenue across servers, storage, PCs, and services as providing cycle resilience
- Believe AI server order backlog growth will drive sustained Infrastructure Solutions revenue acceleration
- Prefer a larger, more liquid stock with higher analyst coverage and institutional ownership
- Prefer a pure enterprise infrastructure play without PC market exposure
- Value GreenLake's as-a-service recurring revenue model as a shift toward higher-quality earnings
- Believe HPE's HPC and supercomputing expertise gives it an edge in high-end AI compute deployments
- Want networking exposure via the Juniper Networks acquisition alongside server infrastructure
| Metric | DELL | HPE |
|---|---|---|
| AI scorei | 83.7 | 70.8 |
| AI ranki | #7 | #38 |
| Latest closei | $588.40 | $61.04 |
| 1M returni | +25.55% | +9.61% |
| 6M returni | +275.35% | +175.95% |
| 1Y returni | +351.43% | +146.83% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | DELL | HPE |
|---|---|---|
| 1Y ago | $44.54K (+345.4%) started 2025-09-18 | $24.18K (+141.8%) started 2025-09-18 |
| 5Y ago | $135.19K (+1251.9%) started 2021-09-20 | $56.99K (+469.9%) started 2021-09-20 |
| 10Y ago | $505.08K (+4950.8%) started 2016-09-19 | $78.98K (+689.8%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | DELL | HPE |
|---|---|---|
| Market capi | $298.3B | $69.27B |
| Trailing P/Ei | 36.82 | 48.89 |
| Forward P/Ei | 17.51 | 12.81 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 2.21 | 2.20 |
| Analyst targeti | $556.13 | $65.35 |
| Target upsidei | +20.46% | +24.92% |
| Metric | DELL | HPE |
|---|---|---|
| Revenue growthi | 87.50% | 40.00% |
| Earnings growthi | 282.50% | -30.30% |
| EPS growthi | +282.50% | -30.30% |
| FCF margini | +4.06% | +9.89% |
| Operating margini | 8.86% | 8.70% |
| Profit margini | 6.28% | 4.01% |
| ROIC proxyi | N/A | 6.31% |
| Return on equityi | N/A | 6.31% |
| Dividend yieldi | 0.55% | 1.09% |
| Payout ratioi | 13.44% | 28.74% |
| Dividend growth streaki | No increase yet | No increase yet |
| Betai | 1.40 | 1.44 |
| Debt/equityi | N/A | 84.03 |
| Current ratioi | 0.95 | 1.09 |
| Quick ratioi | 0.61 | 0.57 |
Over the past year, DELL and HPE have moved moderately in the same direction (correlation of 0.66), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | DELL | HPE |
|---|---|---|---|
| 1Y | Growthi | +345.39% | +141.84% |
| CAGRi | +346.24% | +142.11% | |
| Volatilityi | 75.07% | 57.06% | |
| Sharpe ratioi | 2.30 | 1.76 | |
| Sortino ratioi | 4.50 | 2.93 | |
| Max drawdowni | 32.64% | 26.57% | |
| Current drawdowni | 0.00% | 1.69% | |
| Avg drawdowni | 11.41% | 10.37% | |
| Ulcer Indexi | 14.95% | 12.40% | |
| Max daily dropi | 9.80% | 10.76% | |
| Max wkly dropi | 16.33% | 17.52% | |
| 5Y | Growthi | +1145.90% | +410.62% |
| CAGRi | +65.71% | +38.61% | |
| Volatilityi | 53.79% | 41.53% | |
| Sharpe ratioi | 1.12 | 0.89 | |
| Sortino ratioi | 1.86 | 1.36 | |
| Max drawdowni | 59.59% | 48.36% | |
| Current drawdowni | 0.00% | 1.69% | |
| Avg drawdowni | 20.03% | 11.03% | |
| Ulcer Indexi | 24.59% | 14.06% | |
| Max daily dropi | 18.99% | 15.14% | |
| Max wkly dropi | 23.19% | 20.76% | |
| 10Y | Growthi | +4554.79% | +495.10% |
| CAGRi | +46.84% | +19.53% | |
| Volatilityi | 45.38% | 38.35% | |
| Sharpe ratioi | 0.97 | 0.54 | |
| Sortino ratioi | 1.52 | 0.79 | |
| Max drawdowni | 59.59% | 56.87% | |
| Current drawdowni | 0.00% | 1.69% | |
| Avg drawdowni | 15.36% | 14.87% | |
| Ulcer Indexi | 20.86% | 19.19% | |
| Max daily dropi | 21.64% | 15.31% | |
| Max wkly dropi | 23.70% | 28.21% |
| Category | DELL | HPE |
|---|---|---|
| Company | Dell Technologies Inc. | Hewlett Packard Enterprise Company |
| Sector | Technology | Technology |
| Industry | Computer Hardware | Communication Equipment |
| Core business | Enterprise IT infrastructure, AI-optimized servers (PowerEdge with NVIDIA GPUs), storage solutions, PCs and peripherals, and IT services. Largest AI server vendor by market share. | Enterprise IT infrastructure company offering servers (ProLiant, Cray), networking (Aruba), storage, high-performance computing (HPC), and GreenLake hybrid cloud platform. |
| Investor focus | AI server order backlog and revenue, Infrastructure Solutions Group (ISG) growth, storage modernization, PC refresh cycle, and margin expansion from AI server mix shift. | AI server and HPC revenue growth, GreenLake as-a-service ARR, Juniper Networks acquisition integration, networking revenue, and margin improvement. |
- Market-leading AI server vendor with the broadest PowerEdge GPU server portfolio, partnering closely with NVIDIA
- Diversified revenue across servers, storage, PCs, and services provides stability through hardware cycles
- Massive installed base of enterprise IT infrastructure creates upgrade and replacement demand for AI-capable hardware
- Strong AI/HPC server position with Cray supercomputer heritage and large enterprise GPU server deployments
- GreenLake hybrid cloud platform provides as-a-service recurring revenue across compute, storage, and networking
- Juniper Networks acquisition adds enterprise networking scale and campus/data center switching to the portfolio
- AI server margins are lower than traditional servers due to GPU component costs — revenue growth may not translate to proportional profit growth
- PC business faces cyclical demand and competitive pressure from Lenovo and HP Inc.
- Customer concentration risk as a few hyperscalers drive a large share of AI server orders
- Smaller AI server market share than Dell — may face tougher competition for hyperscaler GPU server orders
- Juniper acquisition integration risk — combining networking cultures and product lines takes execution
- Lower margins than pure-play software/cloud companies — hardware margins remain structurally thin
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