A Business at a Glance
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HP INC
HPQ
$24.6B
Mkt Cap
$25.75
+5.06%
HP INC (HPQ) has a current P/E ratio of 9.7, compared to its historical median P/E of 7.2. The stock is currently considered Expensive based on its historical valuation range.
HP INC (HPQ) has a 5-year average return on invested capital (ROIC) of 56.0%. This indicates strong capital allocation and a potential competitive advantage.
HP INC (HPQ) has a market capitalization of $23.5B. It is classified as a large-cap stock.
Yes, HP INC (HPQ) pays a dividend with a trailing twelve-month yield of 4.64%. The company also returns capital through share buybacks, with a buyback yield of 4.57%.
Based on historical P/E analysis, HP INC (HPQ) appears expensive. The current P/E of 9.7 is 36% above its historical median of 7.2. The estimated fair value CAGR (P/E method) is 2.3%.
HP INC (HPQ) operates in the Computer & Office Equipment industry, within the Technology sector.
HP INC (HPQ) reported annual revenue of $55.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
HP is a global technology company operating in over 170 countries that designs and delivers personal computing devices, printing solutions, and related services and subscriptions. The company operates through three segments: Personal Systems (desktops, notebooks, workstations, thin clients, and point-of-sale systems with endpoint security and lifecycle services), Printing (consumer and commercial printer hardware, supplies, graphics solutions, and 3D printing offerings), and Corporate Investments (business incubation and digital enablement projects). HP's business model combines direct sales and an extensive indirect channel network of retailers, resellers, distribution partners, and system integrators to reach consumer, small-to-medium business, public sector, and enterprise customers. The company manufactures through outsourced partners globally using both build-to-order and configure-to-order fulfillment methods, with a portfolio spanning multiple operating systems (Windows, Chrome) and processors (Intel, AMD, NVIDIA). HP differentiates through its broad product portfolio, innovation capabilities including AI-enabled features and security solutions, brand recognition, procurement leverage, and extensive service and support offerings across premium and value segments. The company faces intense competition from established players including Apple, Dell, Lenovo, Canon, Xerox, and others, competing on technology, price, quality, brand, distribution reach, and solutions including subscription offerings.
【Navigating commodity cost pressures】 Management expects continued revenue growth in fiscal 2026 driven by pricing actions, share gains in premium categories, and increased attach of higher-margin offerings, though the second half will face headwinds from rising memory and storage costs and broader inflationary pressures including oil prices. Personal Systems operating margins are expected to remain below the long-term 5%-7% range for the remainder of the year, with Q4 representing a trough followed by sequential improvement into fiscal 2027 as mitigation actions take effect. In Print, the company expects to maintain disciplined execution on profitable unit placement and pricing while driving growth in key areas including Big Tank printers, industrial printing, and subscription services, with operating margins expected to be solidly within the long-term range despite near-term input cost pressures. Management is actively executing a comprehensive mitigation playbook including supply chain actions, targeted pricing, cost reductions, and product configuration changes, while continuing to invest in AI-enabled innovation and transformation initiatives expected to generate approximately $1 billion in gross run-rate savings by the end of fiscal 2028.
| Metric | Target | Period |
|---|---|---|
| Diluted net earnings per share | $2.90–$3.10 | FY2026 |
| Diluted net earnings per share | $0.61–$0.71 | Q3 FY2026 |
| Free cash flow | $2.8 billion–$3 billion | FY2026 |
Diluted net earnings per share (FY2026): “we now expect diluted net earnings per share to be in the range of $2.90-$3.10”
Diluted net earnings per share (Q3 FY2026): “For Q3, we expect diluted net earnings per share to be in the range of $0.61-$0.71”
Free cash flow (FY2026): “we expect our annual free cash flow to be solidly in the range of $2.8 billion-$3 billion”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 57.4B | 55.3B | 53.6B | 53.7B | 62.9B | 63.5B |
| Net Income | 2.6B | 2.5B | 2.8B | 3.3B | 3.1B | 6.5B |
| EPS | $2.76 | $2.65 | $2.81 | $3.26 | $2.98 | $5.36 |
| Free Cash Flow | 3.8B | 2.8B | 3.2B | 3.0B | 3.7B | 5.8B |
| ROIC | 51.1% | 64.9% | 63.7% | 69.9% | 68.9% | 12.6% |
| Gross Margin | 20.3% | 20.6% | 22.1% | 21.4% | 19.5% | 21.1% |
| Debt/Equity | 0.00 | -27.77 | -7.27 | -8.82 | -3.62 | -4.29 |
| Dividends/Share | $1.20 | $1.16 | $1.10 | $1.05 | $1.00 | $0.78 |
| Operating Income | 3.0B | 3.2B | 3.8B | 3.5B | 4.6B | 5.4B |
| Operating Margin | 5.3% | 5.7% | 7.1% | 6.4% | 7.2% | 8.4% |
| ROE | 0.0% | -303.1% | -232.0% | -159.4% | -134.2% | -333.8% |
| Shares Outstanding | 914M | 954M | 988M | 1,001M | 1,051M | 1,220M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 56.7B | 51.5B | 48.2B | 52.1B | 58.5B | 58.8B | 56.6B | 63.5B | 62.9B | 53.7B | 53.6B | 55.3B | 57.4B |
| Gross Margin | 0.3% | N/A | 18.7% | 18.4% | 18.2% | 19.0% | 18.4% | 21.1% | 19.5% | 21.4% | 22.1% | 20.6% | 20.3% |
| R&D | 1.3B | 1.2B | 1.2B | 1.2B | 1.4B | 1.5B | 1.5B | 1.8B | 1.7B | 1.6B | 1.6B | 1.6B | 1.6B |
| SG&A | 5.4B | 4.7B | 3.8B | 4.5B | 5.1B | 5.4B | 4.9B | 5.7B | 5.3B | 5.4B | 5.7B | 5.8B | 5.9B |
| EBIT | 4.3B | 3.9B | 3.5B | 3.4B | 3.8B | 3.9B | 3.4B | 5.4B | 4.6B | 3.5B | 3.8B | 3.2B | 3.0B |
| Op. Margin | 7.5% | 7.6% | 7.4% | 6.5% | 6.6% | 6.6% | 6.1% | 8.4% | 7.2% | 6.4% | 7.1% | 5.7% | 5.3% |
| Net Income | 5.0B | 4.6B | 2.5B | 2.5B | 5.3B | 3.2B | 2.8B | 6.5B | 3.1B | 3.3B | 2.8B | 2.5B | 2.6B |
| Net Margin | 8.8% | 8.8% | 5.2% | 4.9% | 9.1% | 5.4% | 5.0% | 10.3% | 5.0% | 6.1% | 5.2% | 4.6% | 4.4% |
| Non-Recurring | 1.6B | 63M | 175M | 227M | 99M | 247M | 367M | 229M | 193M | 444M | 233M | 327M | 355M |
| Returns on Capital | |||||||||||||
| ROIC | 10.3% | 16.9% | 37.1% | 8.4% | 11.3% | 11.4% | 8.9% | 12.6% | 68.9% | 69.9% | 63.7% | 64.9% | 51.1% |
| ROE | 18.6% | 16.7% | 20.9% | -69.2% | -263.3% | -340.8% | -161.5% | -333.8% | -134.2% | -159.4% | -232.0% | -303.1% | 0.0% |
| ROA | 4.8% | 4.3% | 3.7% | 8.2% | 15.8% | 9.3% | 8.3% | 17.9% | 8.1% | 8.6% | 7.2% | 6.2% | 5.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12.3B | 7.0B | 3.3B | 3.7B | 4.5B | 4.7B | 4.3B | 6.4B | 4.5B | 3.6B | 3.7B | 3.7B | 4.6B |
| Free Cash Flow | 8.5B | 3.4B | 2.8B | 3.3B | 4.0B | 4.0B | 3.7B | 5.8B | 3.7B | 3.0B | 3.2B | 2.8B | 3.8B |
| Owner Earnings | 7.4B | 2.3B | 2.7B | 3.1B | 3.7B | 3.6B | 3.2B | 5.3B | 3.3B | 2.3B | 2.5B | 2.3B | 3.1B |
| CapEx | 3.9B | 3.6B | 433M | 402M | 546M | 671M | 580M | 582M | 765M | 593M | 592M | 897M | 815M |
| Maint. CapEx | 4.3B | 4.1B | 332M | 354M | 528M | 744M | 789M | 785M | 780M | 850M | 830M | 916M | 992M |
| Growth CapEx | 0 | 0 | 101M | 48M | 18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 4.3B | 4.1B | 332M | 354M | 528M | 744M | 789M | 785M | 780M | 850M | 830M | 916M | 992M |
| CapEx/OCF | 31.2% | 51.3% | 13.3% | 10.9% | 12.1% | 14.4% | 13.4% | 9.1% | 17.7% | 16.6% | 15.8% | 24.3% | 17.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 1.2B | 1.3B | 858M | 894M | 899M | 970M | 997M | 938M | 1.0B | 1.0B | 1.1B | 1.1B | 1.1B |
| Dividend Yield | 6.3% | 6.5% | 5.4% | 41.3% | 3.2% | 4.0% | 4.7% | 3.3% | 3.4% | 4.0% | 3.7% | 4.1% | 4.6% |
| Share Buybacks | 2.7B | 2.9B | 1.2B | 1.4B | 2.6B | 2.4B | 3.1B | 6.2B | 4.3B | 100M | 2.1B | 850M | 1.1B |
| Buyback Yield | 5.9% | 8.0% | 6.5% | N/A | 8.8% | 11.3% | 15.3% | 19.9% | 16.7% | 0.4% | 6.1% | 3.3% | 4.6% |
| Stock-Based Comp | 560M | 709M | 182M | 224M | 268M | 297M | 278M | 330M | 343M | 438M | 452M | 522M | 484M |
| Debt Repayment | 6.0B | 9.6B | 2.2B | 84M | 2.1B | 680M | 1.8B | 1.2B | 693M | 1.7B | 213M | 1.4B | 1.4B |
| Balance Sheet | |||||||||||||
| Net Debt | 3.8B | -9.1B | 437M | -310M | 158M | 614M | 1.4B | 2.8B | 7.8B | 6.3B | 6.4B | 5.9B | 5.9B |
| Cash & Equiv. | 15.1B | 17.4B | 6.3B | 7.0B | 5.2B | 4.5B | 4.9B | 4.3B | 3.1B | 3.1B | 3.2B | 3.7B | 3.7B |
| Long-Term Debt | 16.0B | 6.7B | 6.8B | 7.8B | 6.0B | 5.2B | 5.5B | 6.4B | 10.8B | 9.3B | 8.3B | 8.8B | 8.9B |
| Debt/Equity | 0.73 | 0.32 | -1.74 | -2.30 | -9.44 | -4.25 | -2.73 | -4.29 | -3.62 | -8.82 | -7.27 | -27.77 | 0.00 |
| Interest Coverage | 6.9 | 6.9 | 13.0 | 10.9 | 12.3 | 16.0 | 14.4 | 21.1 | 12.7 | 6.3 | 8.4 | 7.4 | 7.4 |
| Equity | 26.7B | 27.8B | -3.9B | -3.4B | -639M | -1.2B | -2.3B | -1.6B | -3.0B | -1.1B | -1.3B | -346M | -144M |
| Total Assets | 103.2B | 106.9B | 29.0B | 32.9B | 34.6B | 33.5B | 34.7B | 38.6B | 38.5B | 37.0B | 39.9B | 41.8B | 42.9B |
| Total Liabilities | 76.5B | 79.1B | 32.9B | 36.3B | 35.3B | 34.7B | 37.0B | 40.2B | 41.5B | 38.1B | 41.2B | 42.1B | 17M |
| Intangibles | 2.1B | 2.0B | N/A | 3.0M | 453M | 661M | 540M | 784M | 1.9B | 1.6B | 1.3B | 1.0B | 878M |
| Retained Earnings | 29.2B | 32.1B | -3.5B | -2.4B | -473M | -818M | -2.0B | -2.5B | -4.5B | -2.4B | -2.7B | -2.0B | -2.0B |
| Working Capital | 6.4B | 9.6B | -340M | -94M | -3.7B | -5.1B | -5.6B | -6.9B | -6.5B | -6.5B | -7.9B | -6.8B | -6.2B |
| Current Assets | 50.1B | 51.8B | 18.5B | 22.3B | 21.4B | 20.2B | 20.6B | 22.2B | 19.7B | 18.0B | 20.8B | 22.5B | 24.0B |
| Current Liabilities | 43.7B | 42.2B | 18.8B | 22.4B | 25.1B | 25.3B | 26.2B | 29.1B | 26.2B | 24.5B | 28.7B | 29.3B | 30.2B |
| Per Share Data | |||||||||||||
| EPS | 2.62 | 2.48 | 1.43 | 15.29 | 3.26 | 2.07 | 1.98 | 5.36 | 2.98 | 3.26 | 2.81 | 2.65 | 2.76 |
| Owner EPS | 3.89 | 1.23 | 1.57 | 18.76 | 2.28 | 2.37 | 2.29 | 4.34 | 3.18 | 2.28 | 2.50 | 2.37 | 3.41 |
| Book Value | 13.97 | 15.12 | -2.23 | -20.63 | -0.39 | -0.80 | -1.60 | -1.35 | -2.88 | -1.07 | -1.34 | -0.36 | -0.16 |
| Cash Flow/Share | 6.45 | 3.83 | 1.86 | 22.25 | 2.77 | 3.06 | 3.04 | 5.25 | 4.25 | 3.57 | 3.80 | 3.87 | 3.88 |
| Dividends/Share | 0.61 | 0.67 | 0.50 | 5.41 | 0.56 | 0.64 | 0.70 | 0.78 | 1.00 | 1.05 | 1.10 | 1.16 | 1.20 |
| Shares Out. | 1.9B | 1.8B | 1.7B | 165.2M | 1.6B | 1.5B | 1.4B | 1.2B | 1.1B | 1.0B | 987.5M | 954.3M | 914.0M |
| Valuation | |||||||||||||
| P/E Ratio | 9.3 | 7.9 | 7.2 | N/A | 5.5 | 6.8 | 7.1 | 4.8 | 8.2 | 7.2 | 12.4 | 10.3 | 9.3 |
| P/FCF | 2.5 | 4.8 | 6.3 | 0.8 | 7.3 | 5.3 | 5.4 | 5.4 | 6.9 | 7.8 | 10.9 | 9.3 | 6.2 |
| EV/EBIT | 11.9 | 6.9 | 5.2 | N/A | 7.6 | 4.6 | 5.0 | 5.9 | 7.4 | 8.6 | 11.1 | 10.4 | 9.7 |
| Price/Book | 1.7 | 1.3 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 0.7 | 0.8 | 0.3 | N/A | 0.5 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 |
| FCF Yield | 18.2% | 9.5% | 15.7% | N/A | 13.7% | 18.7% | 18.4% | 18.5% | 14.4% | 12.7% | 9.1% | 10.7% | 16.1% |
| Market Cap | 46.6B | 36.0B | 17.9B | N/A | 29.0B | 21.3B | 20.3B | 31.5B | 25.7B | 23.4B | 34.5B | 26.1B | 23.5B |
| Avg. Price | 9.83 | 10.41 | 9.10 | 13.09 | 17.36 | 15.92 | 14.94 | 23.43 | 29.19 | 25.99 | 29.40 | 27.83 | 25.75 |
| Year-End Price | 11.06 | 8.89 | 10.25 | 16.13 | 17.78 | 13.99 | 14.29 | 25.77 | 24.44 | 23.34 | 34.97 | 27.30 | 25.75 |
HP INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
HP INC trades at 9.7x trailing earnings, compared to its 15-year median P/E of 7.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 8.8x vs a median of 6.6x. The company's 5-year average ROIC is 56.0% with a gross margin of 20.9%. Total shareholder yield (dividends + buybacks) is 9.2%. At current prices, the estimated annualized return to fair value is +2.1%.
HP INC (HPQ) has a net profit margin of 4.6%. This is a modest margin.
HP INC (HPQ) generated $2.8 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HP INC (HPQ) reported earnings per share (EPS) of $2.65 in its most recent fiscal year.
HP INC (HPQ) has a return on equity (ROE) of -303.1%. A negative ROE may indicate losses or negative equity.
HP INC (HPQ) has a 5-year average gross margin of 20.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for HP INC (HPQ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HP INC (HPQ) has a book value per share of $-0.36, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued revenue growth in fiscal 2026 driven by pricing actions, share gains in premium categories, and increased attach of higher-margin offerings, though the second half will face headwinds from rising memory and storage costs and broader inflationary pressures including oil prices. Personal Systems operating margins are expected to remain below the long-term 5%-7% range for the remainder of the year, with Q4 representing a trough followed by sequential improvement into fiscal 2027 as mitigation actions take effect. In Print, the company expects to maintain disciplined execution on profitable unit placement and pricing while driving growth in key areas including Big Tank printers, industrial printing, and subscription services, with operating margins expected to be solidly within the long-term range despite near-term input cost pressures. Management is actively executing a comprehensive mitigation playbook including supply chain actions, targeted pricing, cost reductions, and product configuration changes, while continuing to invest in AI-enabled innovation and transformation initiatives expected to generate approximately $1 billion in gross run-rate savings by the end of fiscal 2028.
Based on recent SEC filings and earnings calls, HP INC (HPQ) has provided the following forward guidance: Diluted net earnings per share: $2.90–$3.10 (FY2026); Diluted net earnings per share: $0.61–$0.71 (Q3 FY2026); Free cash flow: $2.8 billion–$3 billion (FY2026).
No recent press releases.