HPE
Hewlett Packard Enterprise Co.
Is HPE Halal?
Enterprise technology, networking and cloud infrastructure are generally permissible; current asset-based ratios pass, while Financial Services income and contract allocation remain incomplete.
What You Should Know
HPE's April 30, 2026 Form 10-Q reports $79,512 million of total assets, $21,246 million of interest-bearing debt, $5,292 million of cash, $15,501 million of accounts plus net financing receivables and $10,678 million of quarterly net revenue. ZakatInvest calculates debt/assets 26.72%, liquidity 6.66% and receivables plus cash/assets 26.15%; the examined asset-based ratios pass. HPE also reports $193 million of financing income and $500 million of operating-lease services income, but the filing does not isolate a scholar-approved prohibited-income percentage from equipment leases, residual values and service economics. This is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •HPE Financial Services provides leasing, financing, IT consumption, utility programs and asset-management services
- •Financing income from sales-type and direct-financing leases was $193 million in the quarter; contract-level purification remains incomplete
- •Net financing receivables were $9,215 million and HPE funds a securitization program with asset-backed debt securities
- •Debt/assets of 26.72%, liquidity of 6.66% and receivables plus cash/assets of 26.15% pass the examined asset-based limits
- •Juniper Networks is integrated into Networking and DOJ/Tunney Act remedies remain part of the acquisition perimeter
- •Public-sector and defense customers are dual-use end markets; export controls, data, labor and supply-chain diligence remain relevant
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-14.
21,246 / 79,512
5,292 / 79,512
20,793 / 79,512
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets are 26.72%, liquidity is 6.66% and receivables plus cash are 26.15%, below the examined FTSE asset limits. Gross non-compliant income and a universal financing-activity numerator are not available, so the result remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity and receivables plus cash are below the examined MSCI total-assets limits. Financing income and HPE Financial Services contract allocation remain incomplete; this is a calculation against the named method, not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity are below the examined Malaysia SAC financial limits. Financing and lease activity cannot be allocated universally from the filing, so this is a calculation against SAC ratios, not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed historical market-cap series is not stored. A different denominator would not resolve the unavailable income and Financial Services allocation.
Business-activity disclosure
HPE is primarily an enterprise technology, networking, cloud, server, storage and services company. Its Cloud & AI segment also contains Financial Services, which provides leasing and financing for customer technology deployments. The filing reports $193 million of financing income and $500 million of operating-lease services income in the quarter, but does not allocate every financing contract, residual-value and service stream into a universal Sharia activity numerator.
Limitation: HPE reports three reorganized segments and combines Financial Services with Cloud & AI. The filing discloses financing receivables and financing income, but does not isolate a scholar-approved prohibited-revenue percentage or separate every lease, service and asset-management contract. The result therefore preserves a quantitative lower-bound context without calling the company officially certified.
Purification
HPE discloses financing income but does not isolate a scholar-approved non-compliant-income percentage from equipment leases, residual values, service income and related financing economics. No fixed purification percentage is asserted; investors should follow qualified guidance.
Inputs, assumptions and primary sources
- Inputs use HPE's April 30, 2026 Form 10-Q; amounts are USD millions.
- Debt uses $3,009 million of notes payable and short-term borrowings plus $18,237 million of long-term debt. Operating liabilities are not silently added.
- Cash uses $5,292 million of cash and cash equivalents. The filing does not present a separate current interest-bearing securities balance; no unsupported amount is entered.
- Receivables use $6,286 million of accounts receivable plus $9,215 million of net financing receivables, including current and long-term equipment leases. Financing receivables are the HPE Financial Services proxy, not a claim that every long-term asset is a receivable.
- Total quarterly net revenue was $10,678 million, including $193 million of financing income and $500 million of operating-lease services income. Financing income is disclosed, but a scholar-approved non-compliant-income numerator is not asserted because HPE reports financing and lease economics together with equipment, service and residual-value components.
- HPE realigned fiscal 2026 reporting into Networking, Cloud & AI and Corporate Investments and Other. Financial Services is reported within Cloud & AI, so segment revenue cannot be treated as a standalone prohibited-business percentage without additional allocation.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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