ALAB vs. HPE: Astera Labs vs. Hewlett Packard Enterprise Stock Comparison

November 11, 2026

How do Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE) share the Information Technology sector but sit in different industry groups — ALAB in Semiconductors & Semiconductor Equipment and HPE in Technology Hardware & Equipment.

Hewlett Packard Enterprise (HPE) has been public since October 19, 2015, giving it a longer listed trading history, while Astera Labs (ALAB) listed on March 20, 2024 and still has a shorter public-market record.

Company profile comparison for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Profile Item	ALAB	HPE
Name	Astera Labs, Inc.	Hewlett Packard Enterprise Company
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Technology Hardware & Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Technology Hardware, Storage & Peripherals
GICS Sub-Industry	Semiconductors	Technology Hardware, Storage & Peripherals
Market Capitalization	33.33 billion USD	59.43 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	March 20, 2024	October 19, 2015
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ALAB

HPE

GSPC

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
Total Return (1Y)	31.42%	110.12%
Total Return (3Y, Annualized)	--	49.38%
Total Return (5Y, Annualized)	--	28.98%

Risk Profile

Drawdown History

ALAB

HPE

GSPC

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
Volatility (1Y, Annualized)	101.55%	61.60%
Beta (5Y)	3.95	1.49
Max Drawdown (5Y)	-63.69%	-48.36%
Avg. Volume (3M)	4.15M	20.47M

Risk-Adjusted Performance

Risk-Return Positioning

ALAB and HPE are plotted by 1-year volatility (risk) and 1-year return. Each dashed Capital Allocation Line uses that stock's own industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
Sharpe Ratio (1Y)	0.27	1.72
Sortino Ratio (1Y)	0.39	2.76

Profitability

ROE (TTM)

Astera Labs (ALAB) at 28.21% sits in the top ROE quartile, while Hewlett Packard Enterprise (HPE) at 10.94% is closer to the peer norm — stronger capital efficiency for ALAB.

ALAB

Semiconductors & Semiconductor Equipment industry group

28.21%

Max: 52.82%
ALAB: 28.21%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

HPE

Technology Hardware & Equipment industry group

10.94%

Max: 42.47%
Q3: 19.13%
Median: 11.00%
HPE: 10.94%
Q1: 1.63%
Min: -20.62%

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their ROE against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Net Margin (TTM)

Astera Labs (ALAB) at 29.64% retains a top-quartile share of revenue as profit, ahead of Hewlett Packard Enterprise (HPE) at 6.67%, which keeps about the industry-typical share.

ALAB

Semiconductors & Semiconductor Equipment industry group

29.64%

Max: 63.80%
ALAB: 29.64%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

HPE

Technology Hardware & Equipment industry group

6.67%

Max: 27.60%
Q3: 11.66%
HPE: 6.67%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their net margin against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Operating Margin (TTM)

Astera Labs (ALAB) at 30.61% operates in the top operating margin quartile, ahead of Hewlett Packard Enterprise (HPE) at 12.56%, which runs around its industry’s norm.

ALAB

Semiconductors & Semiconductor Equipment industry group

30.61%

Max: 58.66%
ALAB: 30.61%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

HPE

Technology Hardware & Equipment industry group

12.56%

Max: 36.27%
Q3: 18.36%
HPE: 12.56%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their operating margin against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Profitability Metrics

Profitability metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
ROE (TTM)	28.21%	10.94%
ROA (TTM)	13.41%	2.64%
Net Margin (TTM)	29.64%	6.67%
Operating Margin (TTM)	30.61%	12.56%
Gross Margin (TTM)	73.89%	36.62%

Growth

Revenue Growth

Astera Labs (ALAB) at 115.13% clears its industry range for revenue growth, far stronger top-line momentum than Hewlett Packard Enterprise (HPE) at 13.84%, which is closer to a typical peer reading.

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Hewlett Packard Enterprise (HPE) reports EPS growth of -102.07%, ranked against its industry; Astera Labs (ALAB) has no EPS growth figure this period.

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
Revenue Growth (YoY)	115.13%	13.84%
Revenue Growth (3Y CAGR)	120.18%	6.37%
EPS Growth (YoY)	--	-102.07%
EPS Growth (3Y CAGR)	--	--

Financial Strength

Current Ratio (MRQ)

Astera Labs (ALAB) at 8.03 carries current ratio above its industry’s typical mid-range, while Hewlett Packard Enterprise (HPE) at 1.11 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

ALAB

Semiconductors & Semiconductor Equipment industry group

8.03

Max: 10.33
ALAB: 8.03
Q3: 5.62
Median: 3.33
Q1: 2.35
Min: 1.03

HPE

Technology Hardware & Equipment industry group

1.11

Max: 5.34
Q3: 3.02
Median: 1.95
Q1: 1.32
HPE: 1.11
Min: 0.17

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their current ratio against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Debt / Equity (MRQ)

Astera Labs (ALAB) at 0.02 keeps leverage in the lower industry quartile, while Hewlett Packard Enterprise (HPE) at 0.76 runs a more typical debt-to-equity mix.

ALAB

Semiconductors & Semiconductor Equipment industry group

0.02

Max: 1.46
Q3: 0.65
Median: 0.27
Q1: 0.04
ALAB: 0.02
Min: 0.00

HPE

Technology Hardware & Equipment industry group

0.76

Max: 1.76
Q3: 0.78
HPE: 0.76
Median: 0.24
Q1: 0.04
Min: 0.01

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their debt-to-equity ratio against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Financial Strength Metrics

Financial strength metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
Current Ratio (MRQ)	8.03	1.11
Debt / Equity (MRQ)	0.02	0.76
Net Debt / EBITDA	-3.23	2.05

Dividends

Dividend Yield (TTM)

Astera Labs (ALAB) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Hewlett Packard Enterprise (HPE) reports a yield of 1.26%, ranking against industry peers normally.

ALAB

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 1.37%
Q3: 0.65%
ALAB: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

HPE

Technology Hardware & Equipment industry group

1.26%

HPE: 1.26%
Max: 0.73%
Q3: 0.31%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their dividend yield against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Dividend Payout Ratio (TTM)

Astera Labs (ALAB) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Hewlett Packard Enterprise (HPE) reports a payout of 28.74%, ranking against industry peers normally.

ALAB

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 49.64%
Q3: 21.71%
ALAB: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

HPE

Technology Hardware & Equipment industry group

28.74%

Max: 32.27%
HPE: 28.74%
Q3: 14.48%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their payout ratio against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Dividend Metrics

Dividend metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
Dividend Yield (TTM)	0.00%	1.26%
Dividend Payout Ratio (TTM)	0.00%	28.74%

Valuation

P/E Ratio (TTM)

Hewlett Packard Enterprise (HPE) at 23.08 is near its industry’s usual P/E ratio, while Astera Labs (ALAB) at 75.38 sits in the richer quartile — ALAB needs stronger growth or earnings quality to justify the premium.

ALAB

Semiconductors & Semiconductor Equipment industry group

75.38

Max: 110.34
ALAB: 75.38
Q3: 66.81
Median: 37.02
Q1: 23.96
Min: 8.12

HPE

Technology Hardware & Equipment industry group

23.08

Max: 69.48
Q3: 41.02
Median: 26.39
HPE: 23.08
Q1: 19.36
Min: 6.07

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their P/E ratio against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

P/S Ratio (TTM)

Hewlett Packard Enterprise (HPE) at 1.42 is priced about in line with its industry on P/S ratio, while Astera Labs (ALAB) at 21.42 sits in the pricier quartile — ALAB costs more per dollar of sales.

ALAB

Semiconductors & Semiconductor Equipment industry group

21.42

ALAB: 21.42
Max: 21.42
Q3: 12.27
Median: 5.76
Q1: 2.73
Min: 0.00

HPE

Technology Hardware & Equipment industry group

1.42

Max: 11.30
Q3: 5.82
Median: 2.56
HPE: 1.42
Q1: 1.05
Min: 0.00

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their P/S ratio against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

P/B Ratio (MRQ)

Hewlett Packard Enterprise (HPE) at 2.24 sits near its industry’s typical P/B ratio, while Astera Labs (ALAB) at 16.67 prices above its benchmark range — ALAB looks rich relative to book.

ALAB

Semiconductors & Semiconductor Equipment industry group

16.67

ALAB: 16.67
Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

HPE

Technology Hardware & Equipment industry group

2.24

Max: 10.75
Q3: 5.52
Median: 3.17
HPE: 2.24
Q1: 1.79
Min: 0.33

Astera Labs (ALAB) vs. Hewlett Packard Enterprise (HPE): A comparison of their P/B ratio against their respective Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment industry group benchmarks.

Valuation Metrics

Valuation metrics for Astera Labs (ALAB) and Hewlett Packard Enterprise (HPE)
Metric	ALAB	HPE
P/E Ratio (TTM)	75.38	23.08
P/S Ratio (TTM)	21.42	1.42
P/B Ratio (MRQ)	16.67	2.24
Free Cash Flow Yield (TTM)	0.39%	7.97%