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HPE
Hewlett Packard Enterprise Company · Technology
$50.24
+21.85% this month
VERSUS
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NTAP
NetApp, Inc. · Technology
$182.92
+18.65% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
HPE
4
NTAP
1
Comparison scoreboard
HPE LEADS 4/5AI Score
HPE ✓61.8
NTAP 59.9
1Y Return
HPE ✓+153.61%
NTAP +80.93%
Fwd P/E
HPE ✓11.94
NTAP 18.14
Target Up.
HPE ✓+36.86%
NTAP -0.70%
Op. Margin
HPE 8.70%
NTAP ✓27.26%
Metrics last refreshed: 8/4/2026
Quick take
HPE vs NTAP Stock Comparison: AI Score, Valuation, Performance and Upside
HPE and NetApp overlap in enterprise storage but operate from very different strategic positions: HPE is a broad infrastructure vendor for which storage is one segment, while NetApp is a pure-play storage company whose ONTAP platform spans on-premises and cloud. NetApp's cloud storage ARR growth and consistent free cash flow make it a more focused investment for enterprise storage exposure; HPE offers a broader infrastructure bet.
Choosing between HPE and NTAP in the storage context comes down to a focused storage compounder (NetApp) versus a diversified infrastructure provider (HPE) — if storage and hybrid cloud data management is the thesis, NetApp is the cleaner expression; if broader AI infrastructure is the thesis, HPE's compute and HPC exposure adds dimensions NetApp lacks.
Live analysis · updated 8/4/2026
HPE holds the edge across 4 of 5 key metrics in this comparison. HPE leads on both 1-year return (+153.61%) and forward P/E quality (11.94x vs 18.14x for NTAP), a relatively favorable combination of momentum and valuation. On fundamentals, HPE is growing revenue faster (40.00%), while NTAP maintains the higher operating margin (27.26%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for HPE (+36.86%) than for NTAP (-0.70%).
Normalized 1Y performance
HPE
NTAP
Recent returns
HPE
NTAP
Analyst price targets & sentiment
HPE
Price target range
analyst mean$65.56
current price$50.24
+36.9% upside to analyst mean
NTAP
Price target range
analyst mean$177.25
current price$182.92
-0.7% upside to analyst mean
Who should consider this stock?
HPE may suit investors who:
- →prefer a diversified enterprise infrastructure company with compute, networking, and storage exposure
- →value AI server and HPC revenue as growth drivers beyond storage alone
- →want the GreenLake as-a-service model as a path to recurring revenue across the full infrastructure stack
- →are comfortable with lower storage-specific margins in exchange for broader AI infrastructure upside
NTAP may suit investors who:
- →prefer a pure-play enterprise storage and data management company with a clear hybrid cloud strategy
- →value ONTAP's cloud-native services on AWS, Azure, and GCP as high-margin recurring revenue
- →want consistent free cash flow returned via buybacks and dividends from a profitable, focused business
- →are comfortable with slower growth in a mature on-premises storage market in exchange for cloud attach revenue
Performance & AI score
| Metric | HPE | NTAP |
|---|---|---|
| AI score | 61.8 | 59.9 |
| AI rank | #157 | #177 |
| Latest close | $50.24 | $182.92 |
| 1M return | +21.85% | +18.65% |
| 6M return | +128.26% | +87.69% |
| 1Y return | +153.61% | +80.93% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | HPE | NTAP |
|---|---|---|
| 1Y ago | $25.09K (+150.9%) started 2025-08-04 | $17.72K (+77.2%) started 2025-08-04 |
| 5Y ago | $43.15K (+331.5%) started 2021-08-05 | $27.07K (+170.7%) started 2021-08-05 |
| 10Y ago | $67.29K (+572.9%) started 2016-08-05 | $108.33K (+983.3%) started 2016-08-05 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | HPE | NTAP |
|---|---|---|
| Market cap | $63.43B | $35.03B |
| Trailing P/E | 44.77 | 28.11 |
| Forward P/E | 11.94 | 18.14 |
| Price/Sales | N/A | N/A |
| EV/Revenue | 2.05 | 4.93 |
| Analyst target | $65.56 | $177.25 |
| Target upside | +36.86% | -0.70% |
Growth, profitability & risk
| Metric | HPE | NTAP |
|---|---|---|
| Revenue growth | 40.00% | 12.50% |
| Earnings growth | -30.30% | 23.40% |
| EPS growth | -30.30% | +23.40% |
| FCF margin | +9.89% | +18.70% |
| Operating margin | 8.70% | 27.26% |
| Profit margin | 4.01% | 18.43% |
| ROIC proxy | 6.31% | 106.73% |
| Return on equity | 6.31% | 106.73% |
| Dividend yield | 1.19% | 1.17% |
| Beta | 1.44 | 1.45 |
| Debt/equity | 84.03 | 202.29 |
| Current ratio | 1.09 | 1.44 |
| Quick ratio | 0.57 | 1.21 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
HPE max drawdown26.57%
NTAP max drawdown25.52%
HPE max wkly drop17.52%
NTAP max wkly drop12.07%
5Y risk snapshot
HPE max drawdown48.36%
NTAP max drawdown42.61%
HPE max wkly drop20.76%
NTAP max wkly drop23.79%
10Y risk snapshot
HPE max drawdown56.87%
NTAP max drawdown58.08%
HPE max wkly drop28.21%
NTAP max wkly drop23.79%
Performance metrics by period
| Period | Metric | HPE | NTAP |
|---|---|---|---|
| 1Y | Growth | +150.95% | +77.20% |
| CAGR | +151.45% | +77.42% | |
| Sharpe ratio | 1.96 | 1.45 | |
| Max drawdown | 26.57% | 25.52% | |
| Max daily drop | 10.14% | 9.37% | |
| Max wkly drop | 17.52% | 12.07% | |
| 5Y | Growth | +283.07% | +146.03% |
| CAGR | +30.84% | +19.74% | |
| Sharpe ratio | 0.76 | 0.56 | |
| Max drawdown | 48.36% | 42.61% | |
| Max daily drop | 15.14% | 15.57% | |
| Max wkly drop | 20.76% | 23.79% | |
| 10Y | Growth | +407.02% | +744.02% |
| CAGR | +17.63% | +23.79% | |
| Sharpe ratio | 0.50 | 0.65 | |
| Max drawdown | 56.87% | 58.08% | |
| Max daily drop | 15.31% | 20.22% | |
| Max wkly drop | 28.21% | 23.79% |
Business comparison
| Category | HPE | NTAP |
|---|---|---|
| Company | Hewlett Packard Enterprise Company | NetApp, Inc. |
| Sector | Technology | Technology |
| Industry | N/A | N/A |
| Core business | HPE provides enterprise servers, storage, networking, and hybrid cloud via its GreenLake platform. Its storage products (Alletra, Primera) compete with NetApp in enterprise all-flash and hybrid storage arrays. HPE's broader portfolio includes AI servers (ProLiant with NVIDIA GPUs), Cray HPC, and Aruba networking, making storage one segment among many rather than a core identity. | NetApp is an enterprise storage and data management company providing all-flash arrays (AFF), hybrid cloud storage (ONTAP), and cloud storage services across AWS, Azure, and Google Cloud. Its ONTAP operating system runs on-premises and natively in public cloud as FSx for NetApp ONTAP (AWS), Azure NetApp Files, and Google Cloud NetApp Volumes, creating a unified storage platform across hybrid environments. NetApp also earns subscription revenue from storage management software and support. |
| Investor focus | Investors track GreenLake ARR growth, server and HPC backlog, and total segment profitability — HPE is not primarily a storage story, so storage performance is one of several data points in a broader infrastructure narrative. | Investors focus on cloud storage services ARR growth (high-margin SaaS-like revenue from hyperscaler-hosted ONTAP), on-premises all-flash array revenue versus flash peers, gross margin expansion as cloud services mix increases, and free cash flow generation relative to the dividend and buyback program. |
HPE strengths
- →GreenLake storage-as-a-service gives HPE a recurring storage revenue model similar to NetApp's managed services
- →Broad enterprise relationships across compute, networking, and storage enable bundled deals that pure-play storage vendors cannot match
- →AI server business creates cross-sell opportunities for HPE storage used in AI training and inference data pipelines
NTAP strengths
- →ONTAP cloud services on AWS, Azure, and GCP create high-margin recurring revenue that grows with hyperscaler adoption
- →ONTAP's feature richness (snapshots, deduplication, NAS/SAN unification) creates deep customer lock-in
- →Strong free cash flow generation supports a generous buyback program and dividend, rewarding shareholders directly
Risks to watch — HPE
- →Storage is not HPE's primary differentiator, and NetApp, Pure Storage, and Dell all compete aggressively in enterprise flash storage
- →GreenLake storage attach rates have not been disclosed separately, making progress difficult to measure
- →HPE's storage margins have faced pressure from all-flash transition and competitive pricing
Risks to watch — NTAP
- →On-premises storage market is mature and competitive, with Pure Storage and HPE Alletra gaining share in all-flash
- →Cloud storage revenue growth depends on hyperscaler ONTAP adoption, which competes against native cloud storage services
- →AI training storage requirements may favor GPU-accelerated flash vendors with different protocols over ONTAP-based solutions
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