Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Hewlett Packard Enterprise Co., EBITDA calculation

US$ in millions

12 months ended:	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019	Oct 31, 2018
Net earnings (loss) attributable to HPE	2,025)	868)	3,427)	(322)	1,049)	1,908)
Add: Net income attributable to noncontrolling interest	11)	5)	9)	11)	16)	(4)
Less: Net loss from discontinued operations	—)	—)	—)	—)	—)	(104)
Add: Income tax expense	205)	8)	160)	(120)	504)	(1,744)
Earnings before tax (EBT)	2,241)	881)	3,596)	(431)	1,569)	264)
Add: Interest expense	326)	260)	289)	332)	311)	353)
Earnings before interest and tax (EBIT)	2,567)	1,141)	3,885)	(99)	1,880)	617)
Add: Depreciation and amortization	2,616)	2,480)	2,597)	2,625)	2,535)	2,576)
Earnings before interest, tax, depreciation and amortization (EBITDA)	5,183)	3,621)	6,482)	2,526)	4,415)	3,193)

Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 10-K (reporting date: 2018-10-31).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Hewlett Packard Enterprise Co. EBITDA decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Hewlett Packard Enterprise Co., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	33,459)
Earnings before interest, tax, depreciation and amortization (EBITDA)	5,183)
Valuation Ratio
EV/EBITDA	6.46
Benchmarks
EV/EBITDA, Competitors¹
Apple Inc.	27.01
Arista Networks Inc.	51.83
Cisco Systems Inc.	15.86
Dell Technologies Inc.	10.32
Super Micro Computer Inc.	20.54
EV/EBITDA, Sector
Technology Hardware & Equipment	26.08
EV/EBITDA, Industry
Information Technology	36.61

Based on: 10-K (reporting date: 2023-10-31).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Hewlett Packard Enterprise Co., historical EV/EBITDA calculation, comparison to benchmarks

	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019	Oct 31, 2018
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	30,358)	29,228)	29,171)	27,432)	30,844)	27,773)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	5,183)	3,621)	6,482)	2,526)	4,415)	3,193)
Valuation Ratio
EV/EBITDA³	5.86	8.07	4.50	10.86	6.99	8.70
Benchmarks
EV/EBITDA, Competitors⁴
Apple Inc.	21.66	19.15	20.47	23.12	13.59	—
Arista Networks Inc.	31.29	24.52	37.29	26.96	16.05	—
Cisco Systems Inc.	12.16	10.52	15.05	9.69	11.36	—
Dell Technologies Inc.	6.61	4.85	9.32	8.64	11.54	—
Super Micro Computer Inc.	16.77	10.50	11.19	10.65	7.75	10.04
EV/EBITDA, Sector
Technology Hardware & Equipment	20.01	17.26	19.17	19.89	—	—
EV/EBITDA, Industry
Information Technology	23.49	18.19	20.35	19.58	—	—

Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 10-K (reporting date: 2018-10-31).

¹ See details »

² See details »

³ 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 30,358 ÷ 5,183 = 5.86

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Hewlett Packard Enterprise Co. EV/EBITDA ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Hewlett Packard Enterprise Co. (NYSE:HPE)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical