Is HPE or ON cheaper?

On trailing earnings, HPE is cheaper: HPE trades at a 46.69 P/E and ON at 89.29.

Which has grown faster, HPE or ON?

Over the past five years, HPE grew revenue faster — HPE at a 7.02% CAGR versus ON at 2.12%.

Does HPE or ON pay a bigger dividend?

HPE pays a dividend (1.40% yield) while ON does not currently pay one.

Is HPE or ON more profitable?

ON runs the higher net margin — HPE at 3.90% versus ON at 9.46%.

Which has been the better investment, HPE or ON?

Over the past 10-year, ON delivered the higher annualized total return — HPE at 19.61% versus ON at 29.02%. Past performance doesn't predict future results.

Hewlett Packard Enterprise Company (HPE) vs ON Semiconductor Corporation (ON)

HPE leads on 10 of 15 compared metrics.

A side-by-side comparison of Hewlett Packard Enterprise Company and ON Semiconductor Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 16, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

HPE

Hewlett Packard Enterprise Company

$65.06B

$49.02Technology

ON Semiconductor Corporation

$47.78B

$125.90Technology

Total return — HPE vs ON

growth of $100 · last 11y

HPE +412.3%ON +1066.9%ON compounded faster

HPE ON

HPE vs ON: by the numbers

•HPE is the larger company ($65.06B vs $47.78B market cap).
•HPE trades at the lower earnings multiple (46.69 vs 89.29 P/E).
•ON converts more revenue to profit (9.46% vs 3.90% net margin).
•HPE grew revenue faster over the past five years (7.02% vs 2.12% CAGR).
•HPE pays a dividend (1.40% yield) while ON does not currently pay one.

Which is better, HPE or ON?

Metric tally: HPE 10 · ON 5

It depends on what you're optimizing for:

ValueHPE(lower P/E)

GrowthHPE(faster 5Y revenue CAGR)

QualityON(higher ROIC)

Metrics side by side

Valuation

Metric	HPE	ON
P/E ratio	46.69●	89.29
Forward P/E	14.36●	40.77
P/S ratio	1.81●	8.18
P/B ratio	2.78●	6.80
PEG ratio	2.32	—
EV / EBITDA	21.46●	41.62
FCF yield	8.03%●	2.93%

Profitability

Metric	HPE	ON
Gross margin	32.92%	37.22%●
Operating margin	6.60%	10.84%●
Net margin	3.90%	9.46%●
ROE	6.00%	7.86%●
ROIC	-0.59%	6.24%●

Dividends

Metric	HPE	ON
Dividend yield	1.40%	—

Growth (annualized)

Metric	HPE	ON
Revenue CAGR (5Y)	7.02%●	2.12%
EPS CAGR (5Y)	20.10%●	-12.64%
FCF CAGR (5Y)	26.64%●	23.39%
Total return CAGR (5Y)	29.51%●	26.60%

Frequently asked

Which is better, HPE or ON?: It depends on your goal. value: HPE (lower P/E); growth: HPE (faster 5Y revenue CAGR); quality: ON (higher ROIC). Across all compared metrics, HPE leads 10 to 5.
Is HPE or ON cheaper?: On trailing earnings, HPE is cheaper: HPE trades at a 46.69 P/E and ON at 89.29.
Which has grown faster, HPE or ON?: Over the past five years, HPE grew revenue faster — HPE at a 7.02% CAGR versus ON at 2.12%.
Does HPE or ON pay a bigger dividend?: HPE pays a dividend (1.40% yield) while ON does not currently pay one.
Is HPE or ON more profitable?: ON runs the higher net margin — HPE at 3.90% versus ON at 9.46%.
Which has been the better investment, HPE or ON?: Over the past 10-year, ON delivered the higher annualized total return — HPE at 19.61% versus ON at 29.02%. Past performance doesn't predict future results.

Go deeper

Full HPE analysis Full ON analysis Interactive comparison tool

Dig into the metrics

Hewlett Packard Enterprise P/E ratio ON Semiconductor P/E ratio Hewlett Packard Enterprise dividend yield ON Semiconductor dividend yield Hewlett Packard Enterprise ROE ON Semiconductor ROE Hewlett Packard Enterprise operating margin ON Semiconductor operating margin Hewlett Packard Enterprise revenue growth ON Semiconductor revenue growth Hewlett Packard Enterprise free cash flow ON Semiconductor free cash flow

Hewlett Packard Enterprise & ON Semiconductor appear in these rankings

Highest FCF Yield Stocks Best 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 16, 2026.