Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Hewlett Packard Enterprise Company (HPE) Halal?

FAIL

Hewlett Packard Enterprise Company · NYSE: HPE · Technology

The short answer

No — Hewlett Packard Enterprise (HPE) does not pass this Shariah stock screen. Its core business is enterprise IT hardware and cloud (servers, Juniper networking, hybrid cloud — no prohibited lines), but its Financial Services segment provides leasing and financing, and that interest-based business contributed $3,504M of FY2025 revenue — about 10.2% of the $34,296M total, above the 5% tolerance. Debt is fine ($22.4B ≈ 26.1% of its ~$85.74B market cap, under the 33% ceiling) and interest income is fine (~$1,173M ≈ 3.4% of revenue, under 5%). Zoya rates HPE not Shariah-compliant; Musaffa's academy analysis calls it Not Halal; no ShariaPortfolio coverage was found.

Gate 1 — Business activity: FAIL

Hewlett Packard Enterprise Company (NYSE: HPE), headquartered in Spring, Texas, is an enterprise IT company. For FY2025 (10-K, year ended October 31, 2025) it reported four segments: Server ($17,745M) — compute hardware; Networking ($6,850M) — Aruba plus Juniper Networks (acquired July 2, 2025 for ~$13.4B cash); Hybrid Cloud ($5,754M) — GreenLake, storage, software; and Financial Services ($3,504M) — per Item 1 of the 10-K, the FS segment "provides flexible investment solutions, such as leasing, financing, IT consumption, utility programs, and asset management services." That is an interest-based financing business contributing $3,504M ≈ 10.2% of total FY2025 net revenue ($34,296M) — above the 5% tolerance this screener applies to interest-based business lines (the same treatment given to financing arms elsewhere in this screener series). The hardware, cloud and networking lines themselves are not prohibited lines (no alcohol, gambling, pork, conventional banking/insurance, tobacco, cannabis, weapons manufacturing or adult entertainment). Gate 1 fails on the Financial Services financing business. Facts only.

Gate 2 — Debt and cash: PASS

At October 31, 2025 HPE reported $4,609M of notes payable and short-term borrowings plus $17,756M of long-term debt — total interest-bearing debt of $22,365M (Consolidated Balance Sheets, FY2025 10-K). The 10-K notes the debt balance is larger than normal because the $13.4B Juniper Networks acquisition (closed July 2, 2025) was funded with cash on hand, term-loan drawdowns and commercial paper. Against a market cap of about $85.74B — 1,327,464,779 shares outstanding at August 27, 2026 (Q3 FY2026 10-Q) × $64.59 (October 1, 2026) — debt ÷ market cap is about 26.08%, below the ~33% ceiling. Cash and cash equivalents of $5,773M are about 6.7% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

FY2025 verifiable interest income totals about $1,173M: $767M of financing income — labeled in the 10-K lessor-activity note as "Interest income from sales-type leases and direct financing leases" — plus $406M of "interest income related to cash, cash equivalents and debt securities" (cash note, FY2025). Against FY2025 total net revenue of $34,296M, that is about 3.42% of revenue, below the 5% non-compliant income ceiling. (Zoya's public page shows $0 interest income for HPE because no separate interest-income line appears on the income statement; the $1,173M here is assembled from the disclosed note figures.) Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Hewlett Packard Enterprise do?

Hewlett Packard Enterprise (NYSE: HPE), based in Spring, Texas, is an enterprise information-technology company. For fiscal 2025 it reported four segments: Server ($17,745M revenue — compute hardware), Networking ($6,850M — Aruba plus Juniper Networks, acquired July 2, 2025 for about $13.4B in cash), Hybrid Cloud ($5,754M — GreenLake, storage), and Financial Services ($3,504M — leasing, financing, IT consumption and asset management). None of the hardware or cloud lines are prohibited lines; the screen fails on the Financial Services financing business.

Why does Hewlett Packard Enterprise fail this Shariah stock screen?

HPE fails this Shariah stock screen at Gate 1 (business activities), not on its debt or income ratios. Its Financial Services segment provides leasing and financing, and that interest-based financing business contributed $3,504M of FY2025 revenue — about 10.2% of total net revenue ($34,296M) — above the 5% tolerance this screen applies to interest-based business lines. (This follows the same treatment applied to other financing arms in this screener series.) The debt gate (26.1% vs 33% ceiling) and the income gate (3.4% vs 5% ceiling) both pass. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is Hewlett Packard Enterprise's interest-bearing debt ratio?

At October 31, 2025 HPE carried $4,609M of notes payable and short-term borrowings plus $17,756M of long-term debt — total interest-bearing debt of $22,365M. The debt load is elevated because the $13.4B Juniper Networks acquisition (closed July 2, 2025) was funded with cash on hand, term-loan drawdowns and commercial paper. Against a market capitalization of about $85.74B (1,327,464,779 shares outstanding at August 27, 2026 times $64.59 on October 1, 2026), debt divided by market cap is about 26.08% — below the 33% ceiling. Cash and cash equivalents of $5,773M are about 6.7% of market cap. The financial-structure gate passes; the screen fails at Gate 1 on the financing business.

What is Hewlett Packard Enterprise's non-compliant income ratio?

For fiscal 2025 HPE's verifiable interest income totals about $1,173M: $767M of financing income, which the 10-K notes label as interest income from sales-type leases and direct financing leases, plus $406M of interest income related to cash, cash equivalents and debt securities. Against FY2025 total net revenue of $34,296M, that is about 3.42% of revenue — below the 5% non-compliant income ceiling. The income gate passes. Note that Zoya's public page reports $0 interest income for HPE because the company discloses no separate interest-income line on its income statement; the $1,173M here is assembled from the disclosed note figures.

Do Zoya, Musaffa, or ShariaPortfolio cover Hewlett Packard Enterprise?

Zoya covers HPE and rates it not Shariah-compliant (September 2026). Musaffa's academy analysis also categorizes HPE as Not Halal (based on its own AAOIFI-style data from early 2024). No ShariaPortfolio coverage or rating of HPE was found — honestly reported as absent, not invented. This page applies the screen directly from HPE's filings: the FY2025 Form 10-K (fiscal year ended October 31, 2025, filed December 18, 2025) and the Q3 FY2026 Form 10-Q (quarter ended July 31, 2026).

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).