HPE vs NOK: Hewlett Packard Enterprise and Nokia Corp ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Hewlett Packard Enterprise is the larger company, worth $99.1B, about 1.8 times Nokia Corp ADR.
- Hewlett Packard Enterprise grew revenue faster over the last year (+33.7% vs +3.5%).
- Hewlett Packard Enterprise keeps more of each dollar of revenue as operating profit (6.2% vs 4.5%).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HPE | NOK |
|---|---|---|
| Market cap | $99.1B | $53.7B |
| Share price | $73.46 | $10.36 |
| Revenue (last fiscal year) | $34.3B | $19.9B |
| Free cash flow (last fiscal year) | $627M | $1.5B |
| Revenue growth, last year | +33.7% | +3.5% |
| Revenue growth per year, last 5 fiscal years | +5.4% | -2.7% |
| Operating margin | 6.2% | 4.5% |
| Net margin | 6.7% | 3.3% |
| Return on equity | 10.5% | 3.1% |
| P/E (trailing) | — | 60.2x |
| Price / free cash flow | 158.1x | 36.7x |
| EV / EBITDA | 18.9x | 25.5x |
| FCF growth the price implies | 32.8% | — |
| Dividend yield | 0.71% | 1.4% |
| Debt / equity | 2.15x | 0.79x |
| Fundamental grade | C | D |
| Superinvestors holding it | 8 | 0 |
| Insider purchases, last 12 months | 2 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Hewlett Packard Enterprise
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $27.8B | $3.4B | 4.1% |
| 2022 | $28.5B | $1.5B | 2.7% |
| 2023 | $29.1B | $1.6B | 7.2% |
| 2024 | $30.1B | $2.0B | 7.3% |
| 2025 | $34.3B | $627M | -1.3% |
Nokia Corp ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $22.2B | $2.1B | 9.7% |
| 2022 | $23.8B | $873M | 9.7% |
| 2023 | $21.1B | $665M | 8.2% |
| 2024 | $19.2B | $2.0B | 10.2% |
| 2025 | $19.9B | $1.5B | 4.4% |
Where the revenue comes from
Hewlett Packard Enterprise · by segments, 2025
Server$17.6B51%
Networking$6.8B20%
Hybrid Cloud$5.5B16%
Financial Services$3.5B10%
Corporate Investments and Other$769M2%
Nokia Corp ADR · by segments, 2025
Mobile Networks$7.8B39%
Optical Networks$3.0B15%
Cloud and Network Services$2.6B13%
IP Networks$2.6B13%
Fixed Networks$2.4B12%
Nokia Technologies$1.5B8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HPE in InvestinglyQuestions
Which is bigger, Hewlett Packard Enterprise or Nokia Corp ADR?
Hewlett Packard Enterprise (HPE), at $99.1B against $53.7B.
Which grows faster, HPE or NOK?
Hewlett Packard Enterprise: revenue grew +33.7% over the last year, against +3.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.