Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Paying user area
Try for free
Hewlett Packard Enterprise Co. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Debt to Equity since 2015
- Total Asset Turnover since 2015
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Hewlett Packard Enterprise Co. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Long-term Activity Ratios (Summary)
Hewlett Packard Enterprise Co., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibited relative stability throughout the observed periods, predominantly fluctuating within a narrow range around 4.8 to 5.1. Initially, the ratio started at 5 in early 2019 and showed a slight decline during mid-2019, reaching approximately 4.73 in the third quarter. From late 2019 through 2020, the ratio stabilized close to 4.8 to 4.9. Entering 2021, an improvement was noted with the ratio reaching slightly above 5 in the first quarter of 2021 and maintaining levels near this mark until early 2022. Subsequently, a gradual decrease occurred throughout late 2022 and into 2023, falling below 4.9 and reaching a low of 4.68 by early 2024. Overall, the trend indicates modest fluctuations around a consistent average, with slight weakening visible towards the end of the period.
- Total Asset Turnover
- The total asset turnover ratio demonstrated a mild declining trend from early 2019 to mid-2020, dropping from 0.59 to a low of 0.46 in the third quarter of 2020. This suggests reduced efficiency in utilizing total assets to generate revenue during the onset of the COVID-19 pandemic. However, the ratio rebounded moderately in subsequent quarters, recovering to approximately 0.53 by early 2023, reflecting some improvement in asset utilization. Despite this recovery, the latter quarters towards early 2024 show a slight decline again, with the ratio decreasing to 0.47. The overall pattern reflects sensitivity to economic conditions with signs of recovery tempered by a recent softening.
- Equity Turnover
- The equity turnover ratio showed an initial range between 1.66 and 1.7 during 2019 and the first half of 2020, indicating relatively consistent use of shareholder equity to generate sales. From late 2020 through early 2021, a sharp decline is seen, dropping to 1.39 and continuing downward to about 1.36 through most of 2021 and early 2022. This deterioration suggests a less efficient use of equity capital during this period. A moderate recovery began in mid-2022 peaking near 1.47 by early 2023. Nevertheless, the ratio resumed a decline afterward, falling to about 1.31 by early 2024. This trend highlights fluctuations in equity efficiency, with a clear weakening phase around 2021 followed by partial recovery, but no sustained improvement as of the latest period.
Net Fixed Asset Turnover
Hewlett Packard Enterprise Co., net fixed asset turnover calculation (quarterly data)
| Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net revenue | |||||||||||||||||||||||||||||
| Property, plant and equipment, net | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Apple Inc. | |||||||||||||||||||||||||||||
| Arista Networks Inc. | |||||||||||||||||||||||||||||
| Cisco Systems Inc. | |||||||||||||||||||||||||||||
| Dell Technologies Inc. | |||||||||||||||||||||||||||||
| Super Micro Computer Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q2 2024 Calculation
Net fixed asset turnover
= (Net revenueQ2 2024
+ Net revenueQ1 2024
+ Net revenueQ4 2023
+ Net revenueQ3 2023)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Revenue Trends
- The net revenue demonstrates fluctuations over the examined periods, showing no consistent upward or downward trajectory. Initially, revenue peaks at 7,553 million USD in January 2019, then generally trends downward reaching a low of 6,009 million USD by April 2020. Recovery is seen by October 2020 with revenues near 7,208 million USD, followed by moderate fluctuations around the 6,700 to 7,800 million USD range. A notable peak occurs in October 2022 at 7,871 million USD, after which there is a decline and subsequent stabilization around 7,200 million USD by April 2024. Overall, revenue appears cyclical with periods of decline often followed by recoveries.
- Property, Plant, and Equipment (Net) Dynamics
- The net value of property, plant, and equipment shows a gradual decline from 6,141 million USD in January 2019 to a low of approximately 5,480 million USD in April 2021. Following this trough, a moderate increase is observed, peaking around 6,089 million USD by July 2023. The trend then slightly reverses, dropping to 5,817 million USD as of April 2024. The fluctuations suggest ongoing asset disposals or depreciation balanced by occasional capital investments, but with an overall mild downward movement over the full period.
- Net Fixed Asset Turnover Ratio Analysis
- This ratio, which measures efficiency in using fixed assets to generate revenue, remains relatively stable but exhibits some variation. Initially around 5.00 in early 2019, it dips marginally below 4.8 in mid-2020, coinciding with a period of lower revenues and asset values. Through 2021 and 2022, the ratio shows slight increases, peaking at 5.08 in January 2022, reflecting improved asset utilization. However, the most recent data indicate a gradual decline, reaching a low of 4.68 by January 2024, before rising again to 4.87 in April 2024. This pattern indicates fluctuating operational efficiency regarding asset deployment during the observed timeframe.
- Comprehensive Insights
- The data reveals that both revenue generation and asset base have undergone cycles of contraction and expansion, likely reflecting broader market conditions or company-specific operational adjustments. Despite asset values generally trending downward or being flat with modest recoveries, the ability to generate revenue per unit of fixed asset remains fairly steady, suggesting maintained operational focus on efficiency. The periodic rebounds in revenue and fixed asset turnover after declines highlight resilience but also a volatile operating environment. The interplay between net revenue fluctuations and asset investments implies strategic timing in capital expenditure or asset management to align with revenue prospects.
Total Asset Turnover
Hewlett Packard Enterprise Co., total asset turnover calculation (quarterly data)
| Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net revenue | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Apple Inc. | |||||||||||||||||||||||||||||
| Arista Networks Inc. | |||||||||||||||||||||||||||||
| Cisco Systems Inc. | |||||||||||||||||||||||||||||
| Dell Technologies Inc. | |||||||||||||||||||||||||||||
| Super Micro Computer Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q2 2024 Calculation
Total asset turnover
= (Net revenueQ2 2024
+ Net revenueQ1 2024
+ Net revenueQ4 2023
+ Net revenueQ3 2023)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Revenue
- The net revenue exhibits some fluctuations over the observed periods. Initially, there is a slight decline from early 2019 through mid-2020, reaching a low point in April 2020. Subsequently, revenue partially recovers through late 2021 but remains somewhat volatile. Starting in early 2022, there is an upward trend culminating in a peak in October 2022, followed by another decline toward early 2024. Overall, the revenues demonstrate cyclical behavior with periodic recoveries and downturns, without a consistent long-term growth pattern.
- Total Assets
- Total assets show a general increase over the entire period. The value grows steadily from the start of 2019 through mid-2020, with a notable jump during this period. After a peak around July 2020, assets fluctuate mildly but maintain an upward trajectory overall. The latter part of the timeline, from early 2023 onwards, continues this gradual increase, culminating in the highest recorded asset levels by April 2024. This suggests a strategy involving asset accumulation or investment growth during the period under review.
- Total Asset Turnover
- The total asset turnover ratio generally declines from early 2019 through mid-2020, reflecting reduced efficiency in generating sales from assets during that time. After reaching a low point around July 2020, the ratio stabilizes and slightly improves through 2023, indicating a modest recovery in asset use efficiency. However, toward early 2024, the ratio decreases again. The overall pattern indicates fluctuations influenced by changes in both revenue and asset base, with efficiency not steadily improving despite asset growth.
Equity Turnover
Hewlett Packard Enterprise Co., equity turnover calculation (quarterly data)
| Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net revenue | |||||||||||||||||||||||||||||
| Total HPE stockholders’ equity | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Apple Inc. | |||||||||||||||||||||||||||||
| Arista Networks Inc. | |||||||||||||||||||||||||||||
| Cisco Systems Inc. | |||||||||||||||||||||||||||||
| Dell Technologies Inc. | |||||||||||||||||||||||||||||
| Super Micro Computer Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q2 2024 Calculation
Equity turnover
= (Net revenueQ2 2024
+ Net revenueQ1 2024
+ Net revenueQ4 2023
+ Net revenueQ3 2023)
÷ Total HPE stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends over the analyzed periods. Net revenue demonstrates a fluctuating pattern, with periods of both decline and growth observed throughout the timeline. Initially, net revenue decreased from early 2019 into early 2020, reaching a low point during the second quarter of 2020. Subsequently, a recovery phase is evident, most pronounced in late 2022, where revenue peaks before undergoing moderate fluctuations through the beginning of 2024.
Total stockholders' equity exhibits a generally upward trend over the entire period. Starting from a value around 18,293 million US dollars in early 2019, equity decreases slightly until approximately the beginning of 2020, followed by a period of stabilization and significant growth from late 2021 onwards. The equity growth appears steady and consistent, surpassing 21,000 million US dollars in 2024, suggesting strengthened financial positioning and accumulated retained earnings or additional equity financing activities during the later periods.
The equity turnover ratio, which measures how effectively the company utilizes its equity to generate revenue, shows a declining trend over time. From ratios close to 1.7 in 2019 and early 2020, the turnover progressively decreases to near 1.3 by early 2024. This decline indicates that although total equity is increasing, net revenues are not rising proportionally, resulting in less revenue generated per unit of equity. The most substantial drop is observed after 2020, aligning with the period where equity increases while net revenue remains relatively flat or volatile.
- Net Revenue Trends
- Fluctuations with a downturn in early 2020, recovery starting mid-2020, peaking in late 2022, and moderate variability through early 2024.
- Total Stockholders’ Equity
- Initial slight decrease until early 2020, followed by stable and pronounced growth from late 2021 to early 2024.
- Equity Turnover Ratio
- Gradual decline from approximately 1.7 in 2019 to around 1.3 in 2024, suggesting reduced efficiency in revenue generation relative to equity growth.
Overall, the data indicates improving balance sheet strength through rising equity levels. However, the relatively stagnant net revenue growth in recent periods combined with declining equity turnover may highlight challenges in converting the increased equity base into proportional revenue growth. This pattern suggests a need to evaluate operational efficiency or revenue-generating strategies relative to capital employed.