Hewlett Packard Enterprise Co (HPE) is overvalued and Nokia Corp ADR (NOK) is overvalued.
Both trade above our estimate of their intrinsic value. NOK is the closer of the two: -152%, against -5467% for HPE.
Values as of the 22 Sept 2026 close.
Its through-the-cycle earnings (4.2% median margin), capitalised at 10.4% with no growth, values the shares at $1.10; the price of $61.03 is 5467% above that value.
Leak Score 33/100 on 10 of 12 signals
Discounting its cash flows at 10.3% (average of 3 methods) values the shares at $4.30; the price of $10.82 is 152% above that value, and 71% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
| Metric | HPE | NOK |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $61.03 | $10.82 |
| Intrinsic value | $1.10 | $4.30 |
| Margin of safety | -5467% | -152% |
| Leak Score | 33/100 (10/12) | 27/100 (3/12) |
| Market cap | $81.0B | $60.6B |
| Revenue growth, 5 years | 5.0% | -2.1% |
| Operating margin | 8.0% | 11.1% |
| Net margin | 6.4% | 3.4% |
| Return on equity | 11.0% | 3.5% |
| Debt to equity | 0.76 | 0.16 |
| P/E | 31.8x | 74.7x |
| Forward P/E | 13.3x | 23.3x |
| P/B | 3.1x | 2.5x |
| Dividend yield | 0.9% | 1.6% |