HP INC

HPQ

HP Inc. provides personal computing, printing, 3D printing, hybrid work, gaming, and other related technologies in the United States and internationally. The company operates through three segments: Personal Systems, Printing, and Corporate Investments.

Country: United StatesPrice: $30.11Market Cap: $27.5B

Company Profile

Industry: Computers
SIC Sector: Industrial Machinery & Computing
Size: Large Cap($27.5B)
Revenue: $55.3B+3.2% YoY
Net Income: $2.5B-8.9% YoY

Financial Snapshot

Operating Margin5.7%
Return on Equity-730.9%
Debt / Equity-30.38
Current Ratio0.77
EPS (Diluted)$2.65−5.7%
Buybacks (1y)$850.0M
Buybacks (2y)$3.0B
Shares Retired1.9% / 6.9% 2y

Similar Companies

AAPLApple Inc.
$4.46T
CSCOCISCO SYSTEMS, INC.
$440.2B
IBMINTERNATIONAL BUSINESS MACHINES CORP
$220.8B
HPE-PCHewlett Packard Enterprise Co
$198.1B

Shareholder Return

Fiscal 2025

Retired 1.9% of shares last year, 6.9% over two.

Buybacks
$850.0M
Dividends
$1.1B

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY22
−44.4% = −52.1% + 16.1%
FY23
9.4% = 4.2% + 5.0%
FY24
−13.8% = −15.0% + 1.4%
FY25
−5.7% = −8.9% + 3.5%
Earnings Fewer shares More shares

The two parts do not sum exactly to the total — the difference is the cross-term, plus preferred capital where the company has any. It is left visible rather than distributed into the other two.

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Annual data (10-K) · Last 5 years

MetricFY 2025FY 2024FY 2023FY 2022FY 2021
Market Cap$27.5B$28.8Best.$25.9Best.$25.1Best.$34.2Best.
Revenue$55.3B↑3%$53.6B$53.7B↓15%$62.9B↓1%$63.5B
Operating Income$3.2B↓17%$3.8B↑10%$3.5B↓24%$4.6B↓15%$5.4B
Net Income$2.5B↓9%$2.8B↓15%$3.3B↑4%$3.1B↓52%$6.5B
EPS (Diluted)$2.65↓6%$2.81↓14%$3.26↑9%$2.98↓44%$5.36
Gross Margin20.6%↓7%22.1%↑3%21.4%↑10%19.5%↓8%21.1%
Operating Margin5.7%↓19%7.1%↑11%6.4%↓11%7.2%↓14%8.4%
ROE-730.9%↓248%-209.8%↑31%-305.2%↓195%-103.5%↑74%-397.9%
Total Debt$10.5B↓5%$11.1B↑13%$9.8B↓14%$11.4B↑38%$8.2B
Shareholders' Equity-$346.0M↑74%-$1.3B↓24%-$1.1B↑65%-$3.0B↓84%-$1.6B
Current Ratio0.77↑6%0.72↓1%0.73↓3%0.75↓1%0.76
Debt / Equity-30.38↓262%-8.39↑8%-9.16↓144%-3.75↑25%-5.02
Operating Cash Flow$3.7B↓1%$3.7B↑5%$3.6B↓20%$4.5B↓30%$6.4B
Free Cash Flow$2.8B↓11%$3.2B↑6%$3.0B↓19%$3.7B↓37%$5.8B
Scored from 10-K1d ago
MetricMarks

Risk-Aware Value

Akre

Three-Legged Stool

Druckenmiller

Macro-Enhanced Growth

Spier

Value Checklist

Pabrai

Dhandho Framework

Munger

Quality Focus

Ackman

Activist Value

Piotroski

F-Score

Greenblatt

Magic Formula

Lynch

GARP

Buffett

Quality Compounder

Graham

Defensive Value

VerdictBUYPASSBUYBUYBUYBUYPASSPASSNot rankedFAILFAILFAIL
Score
Analysis
Intrinsic ValueN/AN/AN/A
Margin of Safety+26.4%N/A-26.0%-65.2%-106.9%+25.3%+14.4%N/A-0.8%-89.3%+7.6%N/A
Data As Of10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)

Where They Agree

    Where They Disagree

    • Profitability

      3 of 11 pass — Akre, Spier, Ackman +5 more object

      Margin of SafetyP/E=8.4x
      ✗SpierP/E < 15 AND P/B < 2.0✓PabraiP/B < 1.5 or P/E < 15
      Discount to Intrinsic Value48.9% (IV=$43.60 vs Price=$22.28)
      ✓Marks>= 20% below intrinsic value
      Positive Net Income Frequency25/26 years positive
      ✓MarksPositive net income in >= 7 of last 10 years
      Return on Equity18.0% (3-yr avg)
      ✗AkreROE > 20% (3-year avg)
      Show 19 more metrics ▾
      EPS Growth AccelerationLatest: -5.7%, Prior: -13.8%
      ✓DruckenmillerAccelerating EPS growth
      Operating Income / Revenue5.7%
      ✗Ackman>= 15%
      Net Income / Shareholders Equity
      ✗Ackman>= 15%
      Net Income / Total Assets6.05%
      ✓PiotroskiROA > 0
      ROA Change YoY6.95% -> 6.05% (delta: -0.90%)
      ✗PiotroskiCurrent ROA > Prior ROA
      (CFO / Total Assets) vs ROACFO/Assets=8.85%, ROA=6.05%
      ✓PiotroskiCFO/Assets > ROA
      Gross Margin Change YoY22.1% -> 20.6%
      ✗PiotroskiImproved YoY
      EBIT / Enterprise Value11.6%
      ✓Greenblatt> 10%
      Earnings Yield + ROC AssessmentEY=11.6%, ROC=N/A (invested capital <= 0)
      ✗GreenblattBoth EY > 10% and ROC > 25%
      3-5 Year EPS CAGR6.0%
      ✓Lynch15-30% (Fast Grower); > 0% to pass
      ROEN/A (negative equity)
      ✗Lynch> 15%
      Net Income Positive (10+ years)25/28 years positive
      ✗BuffettPositive every year for 10+ years
      ROE (5-yr avg)3.2%
      ✗Buffett> 15% (5-yr avg)
      Operating Margin (10-yr trend)5.7% (latest)
      ✓BuffettStable or rising over 10 years
      Free Cash Flow Proxy$2.5B
      ✗BuffettPositive and growing
      Earnings Variance (10-yr CoV)0.95
      ✗BuffettCoV < 0.3
      Retained Earnings Effectiveness-1.14x
      ✗Buffett$1 retained -> > $1 market value created
      Positive EPS (10 years)18/28 years positive
      ✗GrahamPositive EPS every year for 10 years
      EPS Growth (3-yr avg, 10-yr window)
      ✗Graham>= 33% growth
    • Debt & Leverage

      1 of 8 pass — Akre, Munger, Ackman +4 more object

      Interest Coverage & Debt/EBITDAIC=7.4x, D/EBITDA=2.6x
      ✓MarksInterest Coverage > 3x; Debt/EBITDA < 4x
      Debt LevelsN/A (non-positive equity)
      ✗AkreDebt/Equity < 0.3✗MungerDebt/Equity < 0.5
      Total Debt / Shareholders Equity
      ✗Ackman<= 1.0
      LT Debt / Total Assets Change20.70% -> 21.12%
      ✗PiotroskiDecreased YoY
      Show 4 more metrics ▾
      Total Debt / EquityN/A (negative equity)
      ✗Lynch< 0.33
      Cash - Long-term Debt$-5.1B
      ✗LynchPositive preferred
      Debt/Equity & Interest CoverageD/E: N/A (negative equity), IC: 7.4x
      ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
      LT Debt vs Net Current AssetsLT Debt $8.8B vs NCA $-6.8B
      ✗GrahamLT Debt <= Net Current Assets
    • Valuation

      5 of 9 pass — Spier, Greenblatt, Lynch +1 more object

      P/B or P/E vs. Historical AverageP/E=8.4x
      ✓MarksP/E < 15 or P/B < 2.0
      Discount to Intrinsic Value48.9% (IV=$43.60 vs Price=$22.28)
      ✓Marks>= 20% below intrinsic value
      Price vs. 200-day MAQualitative
      ✓DruckenmillerPrice above 200-day moving average
      Margin of SafetyP/E=8.4x
      ✗SpierP/E < 15 AND P/B < 2.0
      Show 9 more metrics ▾
      P/E or FCF YieldP/E=8.4x, FCF Yield=13.6%
      ✓PabraiP/E < 15 or FCF Yield > 10%
      Valuation ReasonablenessP/E=8.4x, OE Yield=12.4%
      ✓MungerP/E < 25 or Owner Earnings Yield > 5%
      Price / FCF per Share7.3x
      ✓Ackman<= 25
      EBIT / Enterprise Value11.6%
      ✓Greenblatt> 10%
      Earnings Yield + ROC AssessmentEY=11.6%, ROC=N/A (invested capital <= 0)
      ✗GreenblattBoth EY > 10% and ROC > 25%
      P/E / EPS Growth Rate1.40
      ✗Lynch< 1.0 (ideally < 0.5)
      Price / 3-yr avg EPS7.7x
      ✓Graham<= 15x
      Price-to-Book Ratio
      ✗Graham<= 1.5x
      P/E x P/B
      ✗Graham<= 22.5
    • Cash Flow

      4 of 6 pass — Lynch and Buffett object

      FCF Positive18/18 years FCF positive
      ✓MarksPositive FCF in majority of recent years
      P/E or FCF YieldP/E=8.4x, FCF Yield=13.6%
      ✓PabraiP/E < 15 or FCF Yield > 10%
      (OCF - CapEx) / Market Cap13.6%
      ✓Ackman>= 4%
      Price / FCF per Share7.3x
      ✓Ackman<= 25
      Show 4 more metrics ▾
      Operating Cash Flow$3.7B
      ✓PiotroskiCFO > 0
      (CFO / Total Assets) vs ROACFO/Assets=8.85%, ROA=6.05%
      ✓PiotroskiCFO/Assets > ROA
      FCF Positive and Growing$2.8B
      ✗LynchPositive and growing
      Free Cash Flow Proxy$2.5B
      ✗BuffettPositive and growing
    • Growth

      2 of 5 pass — Ackman, Lynch and Graham object

      Positive Net Income Frequency25/26 years positive
      ✓MarksPositive net income in >= 7 of last 10 years
      EPS Growth AccelerationLatest: -5.7%, Prior: -13.8%
      ✓DruckenmillerAccelerating EPS growth
      Revenue Growth RateLatest: 3.2%, Prior: -0.3%
      ✓DruckenmillerRevenue growth accelerating
      3yr Median Revenue Growth-0.3%
      ✗Ackman>= 5%
      Show 5 more metrics ▾
      Positive EPS Growth Frequency2/5 years with positive EPS growth
      ✗AckmanPositive EPS growth in >= 3 of last 5 years
      P/E / EPS Growth Rate1.40
      ✗Lynch< 1.0 (ideally < 0.5)
      3-5 Year EPS CAGR6.0%
      ✓Lynch15-30% (Fast Grower); > 0% to pass
      Inventory Growth vs Revenue GrowthInv: 10.3% vs Rev: 3.2%
      ✗LynchInventory growth < Revenue growth
      EPS Growth (3-yr avg, 10-yr window)
      ✗Graham>= 33% growth
    • Efficiency

      3 of 6 pass — Piotroski, Greenblatt and Graham object

      ROIC (high and growing)11/15 years ROIC > 15% (latest: 24.7%)
      ✓AkreROIC > 15% for 3+ years
      Reinvestment Rate x ROIC14.1% (RR=57% x ROIC=24.7%)
      ✓AkreReinvestment Rate * ROIC > 10%
      Return on Invested Capital24.7%
      ✓Munger> 15%
      Current Ratio Change YoY0.72 -> 0.77
      ✓PiotroskiIncreased YoY
      Show 5 more metrics ▾
      Revenue / Total Assets Change YoY1.34x -> 1.32x
      ✗PiotroskiImproved YoY
      EBIT / (NWC + Net Fixed Assets)N/A (invested capital <= 0)
      ✗Greenblatt> 25%
      ROIC (3-5 yr avg)77.4%
      ✓Buffett> 10%
      ROIC - WACC+67.4%
      ✓BuffettPositive (WACC = 10%)
      Current Ratio0.77
      ✗Graham>= 2.0
    • Verdicts

      Split decision: 5 BUY · 3 PASS · 3 FAIL

      Overall verdict
      ✓MarksBUY (8/8)✓AkrePASS (4/7)✓DruckenmillerBUY (6/7)✓SpierBUY (7/8)✓PabraiBUY (8/8)✓MungerBUY (6/7)✓AckmanPASS (4/9)✓PiotroskiPASS (F-Score 5)•GreenblattNot ranked✗LynchFAIL (PEG 1.4)✗BuffettFAIL (3/9)✗GrahamFAIL (3/9)
    • Valuation models

      Models split on HPQ at $30.11 — fair values range $14.55–$40.92

      Marks fair value$40.92
      ✓Marks+26.4% margin vs $30.11
      Druckenmiller fair value$23.89
      ✗Druckenmiller-26.0% margin vs $30.11
      Spier fair value$18.23
      ✗Spier-65.2% margin vs $30.11
      Pabrai fair value$14.55
      ✗Pabrai-106.9% margin vs $30.11
      Show 5 more metrics ▾
      Munger fair value$40.32
      ✓Munger+25.3% margin vs $30.11
      Ackman fair value$35.16
      ✓Ackman+14.4% margin vs $30.11
      Greenblatt fair value$29.87
      ✗Greenblatt-0.8% margin vs $30.11
      Lynch fair value$15.91
      ✗Lynch-89.3% margin vs $30.11
      Buffett fair value$32.59
      ✓Buffett+7.6% margin vs $30.11

    Historical Score Timeline

    Industry Peers

    Similar companies in Computers

    HPQ vs Peers — Financial Grading

    Revenue$55.3BMedian
    Net Income$2.5BMedian
    ROE-730.9%Bottom 25%
    D/E-30.38Top 25%
    Op. Margin5.7%Median
    Curr. Ratio0.77Bottom 25%
    CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroski
    Apple Inc.AAPL$4.46T$305.93$416.2B$112.0B151.9%1.4032.0%0.891/96/93/71/3F-Score 8
    CISCO SYSTEMS, INC.CSCO$440.2B$111.68$56.7B$10.2B21.7%0.5620.8%1.004/97/93/70/3F-Score 8
    INTERNATIONAL BUSINESS MACHINES CORPIBM$220.8B$234.32$67.5B$10.6B32.4%1.68—0.963/93/93/70/3F-Score 6
    Hewlett Packard Enterprise CoHPE-PC$198.1B$150.26$34.3B$57.0M0.2%1.03-1.3%1.011/91/91/70/3F-Score 4
    WESTERN DIGITAL CORPWDC$175.4B$508.80$9.5B$1.9B35.6%1.3124.5%1.081/91/93/71/3F-Score 4
    NCR Voyix CorpNCRRP$138.6B$1002.00$2.7B$62.0M6.5%1.171.0%1.041/93/90/70/3F-Score 3
    Fortinet, Inc.FTNT$117.4B$160.01$6.8B$1.9B149.8%0.8130.7%1.172/95/95/71/3F-Score 6
    NetApp, Inc.NTAP$40.6B$207.08$6.2B$1.3B94.4%1.8426.8%1.443/95/93/71/3F-Score 8