Hp Inc Financials
This page shows Hp Inc (HPQ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
HP still turns a thin-margin sales base into cash, while negative equity and lean liquidity reflect years of distributions.
From FY2023 to FY2025, revenue recovered by about$1.6B , yet operating margin still fell to5.7% and operating cash flow stayed roughly flat. That pairing says recent top-line improvement needed more cost or working-capital support rather than creating cleaner incremental cash and profit per sales dollar.
The persistent negative equity position makes more sense when paired with capital returns: over FY2021-FY2025, buybacks totaled about
A sub-0.8x current ratio in every listed year means HP runs with a limited short-term cushion, relying on turnover rather than idle liquidity to meet obligations. That is easier to sustain because FY2025 capital spending was only
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Hp Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Hp Inc has an operating margin of 5.7%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 36/100, indicating healthy but not exceptional operating efficiency. This is down from 7.1% the prior year.
Hp Inc's revenue grew a modest 3.2% year-over-year to $55.3B. This slow but positive growth earns a score of 36/100.
Hp Inc carries a low D/E ratio of -11.54, meaning only $-11.54 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
Hp Inc's current ratio of 0.76 is below the typical benchmark, resulting in a score of 10/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Hp Inc has a free cash flow margin of 5.1%, earning a moderate score of 39/100. The company generates positive cash flow after capital investments, but with room for improvement.
Hp Inc scores 1.57, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Hp Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Hp Inc generates $1.46 in operating cash flow ($3.7B OCF vs $2.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Hp Inc earns $7.4 in operating income for every $1 of interest expense ($3.2B vs $430.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Hp Inc generated $55.3B in revenue in fiscal year 2025. This represents an increase of 3.2% from the prior year.
Hp Inc's EBITDA was $4.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 12.0% from the prior year.
Hp Inc reported $2.5B in net income in fiscal year 2025. This represents a decrease of 8.9% from the prior year.
Hp Inc earned $2.65 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 5.7% from the prior year.
Cash & Balance Sheet
Hp Inc generated $2.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 11.3% from the prior year.
Hp Inc held $3.2B in cash against $8.8B in long-term debt as of fiscal year 2025.
Hp Inc paid $1.16 per share in dividends in fiscal year 2025. This represents an increase of 5.5% from the prior year.
Hp Inc had 918M shares outstanding in fiscal year 2025. This represents a decrease of 2.1% from the prior year.
Margins & Returns
Hp Inc's gross margin was 20.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the prior year.
Hp Inc's operating margin was 5.7% in fiscal year 2025, reflecting core business profitability. This is down 1.4 percentage points from the prior year.
Hp Inc's net profit margin was 4.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Capital Allocation
Hp Inc invested $1.6B in research and development in fiscal year 2025. This represents a decrease of 2.3% from the prior year.
Hp Inc spent $850.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 59.5% from the prior year.
Hp Inc invested $897.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 51.5% from the prior year.
HPQ Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.4B-1.4% | $14.6B+5.1% | $13.9B+5.4% | $13.2B-2.1% | $13.5B-3.9% | $14.1B+4.0% | $13.5B+5.6% | $12.8B |
| Cost of Revenue | $11.6B-0.6% | $11.7B+5.4% | $11.1B+5.7% | $10.5B-1.7% | $10.7B-3.5% | $11.1B+4.2% | $10.6B+8.6% | $9.8B |
| Gross Profit | $2.8B-4.3% | $3.0B+3.9% | $2.9B+4.1% | $2.7B-3.6% | $2.8B-5.4% | $3.0B+3.3% | $2.9B-3.9% | $3.0B |
| R&D Expenses | $392.0M-1.5% | $398.0M-2.0% | $406.0M+1.2% | $401.0M+1.0% | $397.0M+1.3% | $392.0M-5.1% | $413.0M-5.3% | $436.0M |
| SG&A Expenses | $1.5B+5.2% | $1.4B-1.5% | $1.5B-1.9% | $1.5B+1.4% | $1.5B+3.5% | $1.4B+0.4% | $1.4B-4.0% | $1.5B |
| Operating Income | $759.0M-20.9% | $959.0M+33.9% | $716.0M+9.5% | $654.0M-22.6% | $845.0M-14.7% | $991.0M+5.4% | $940.0M-1.3% | $952.0M |
| Interest Expense | $99.0M-2.0% | $101.0M-9.0% | $111.0M-2.6% | $114.0M+9.6% | $104.0M+1.0% | $103.0M-7.2% | $111.0M-9.0% | $122.0M |
| Income Tax | $126.0M+223.1% | $39.0M+128.1% | -$139.0M-239.0% | $100.0M-28.1% | $139.0M+415.9% | -$44.0M-123.5% | $187.0M-1.6% | $190.0M |
| Net Income | $545.0M-31.4% | $795.0M+4.2% | $763.0M+87.9% | $406.0M-28.1% | $565.0M-37.6% | $906.0M+41.6% | $640.0M+5.4% | $607.0M |
| EPS (Diluted) | $0.58 | N/A | $0.80+90.5% | $0.42-28.8% | $0.59 | N/A | $0.65+6.6% | $0.61 |
HPQ Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $41.5B-0.6% | $41.8B+4.8% | $39.9B+2.7% | $38.8B-0.3% | $38.9B-2.5% | $39.9B+4.9% | $38.1B+1.7% | $37.4B |
| Current Assets | $22.2B-1.0% | $22.5B+9.1% | $20.6B+5.7% | $19.5B-1.9% | $19.8B-4.5% | $20.8B+7.5% | $19.3B+3.9% | $18.6B |
| Cash & Equivalents | $3.2B-14.5% | $3.7B+28.5% | $2.9B+6.5% | $2.7B-6.4% | $2.9B-11.1% | $3.2B+16.3% | $2.8B+14.0% | $2.4B |
| Inventory | $8.7B+2.6% | $8.5B+1.9% | $8.4B+2.2% | $8.2B-3.2% | $8.4B+9.4% | $7.7B-0.9% | $7.8B+3.7% | $7.5B |
| Accounts Receivable | $5.3B-6.3% | $5.7B+11.1% | $5.1B+18.2% | $4.3B+3.5% | $4.2B-18.2% | $5.1B+9.8% | $4.7B+7.9% | $4.3B |
| Goodwill | $8.7B+0.2% | $8.7B-0.1% | $8.7B0.0% | $8.7B+1.3% | $8.6B-0.3% | $8.6B+0.2% | $8.6B+0.2% | $8.6B |
| Total Liabilities | $42.3B+0.4% | $42.1B+3.3% | $40.8B+1.7% | $40.1B+0.2% | $40.0B-3.0% | $41.2B+4.5% | $39.5B+2.9% | $38.3B |
| Current Liabilities | $29.3B+0.1% | $29.3B+5.0% | $27.9B+4.9% | $26.6B-3.2% | $27.4B-4.4% | $28.7B+6.1% | $27.0B+8.9% | $24.8B |
| Long-Term Debt | $8.8B+0.2% | $8.8B+0.4% | $8.8B-5.5% | $9.3B+12.3% | $8.3B+0.1% | $8.3B+0.4% | $8.2B-11.8% | $9.3B |
| Total Equity | -$766.0M-121.4% | -$346.0M+61.6% | -$901.0M+29.4% | -$1.3B-19.0% | -$1.1B+19.0% | -$1.3B+5.0% | -$1.4B-52.0% | -$916.0M |
| Retained Earnings | -$2.3B-14.8% | -$2.0B+14.1% | -$2.4B+3.3% | -$2.4B+11.3% | -$2.8B-2.8% | -$2.7B+1.9% | -$2.7B-20.9% | -$2.3B |
HPQ Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $383.0M-76.4% | $1.6B-2.2% | $1.7B+4271.1% | $38.0M-89.8% | $374.0M-77.0% | $1.6B+14.0% | $1.4B+145.1% | $581.0M |
| Capital Expenditures | $233.0M+18.3% | $197.0M-8.4% | $215.0M+17.5% | $183.0M-39.4% | $302.0M+97.4% | $153.0M-5.6% | $162.0M+36.1% | $119.0M |
| Free Cash Flow | $150.0M-89.5% | $1.4B-1.3% | $1.4B+1097.2% | -$145.0M-301.4% | $72.0M-95.1% | $1.5B+16.5% | $1.3B+173.2% | $462.0M |
| Investing Cash Flow | -$269.0M-320.3% | -$64.0M-420.0% | $20.0M+102.4% | -$833.0M-177.7% | -$300.0M-127.3% | -$132.0M+44.3% | -$237.0M-383.7% | -$49.0M |
| Financing Cash Flow | -$673.0M+6.7% | -$721.0M+53.1% | -$1.5B-343.6% | $631.0M+245.7% | -$433.0M+61.2% | -$1.1B-35.1% | -$826.0M-91.2% | -$432.0M |
| Dividends Paid | $277.0M+2.6% | $270.0M-0.7% | $272.0M-0.4% | $273.0M0.0% | $273.0M+3.8% | $263.0M-1.9% | $268.0M-0.4% | $269.0M |
| Share Buybacks | $325.0M-35.0% | $500.0M+150.0% | $200.0M+100.0% | $100.0M0.0% | $100.0M-88.9% | $900.0M+50.0% | $600.0M+500.0% | $100.0M |
HPQ Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.6%-0.6pp | 20.2%-0.2pp | 20.5%-0.3pp | 20.7%-0.3pp | 21.0%-0.3pp | 21.3%-0.2pp | 21.5%-2.1pp | 23.6% |
| Operating Margin | 5.3%-1.3pp | 6.6%+1.4pp | 5.1%+0.2pp | 5.0%-1.3pp | 6.3%-0.8pp | 7.0%+0.1pp | 7.0%-0.5pp | 7.4% |
| Net Margin | 3.8%-1.7pp | 5.4%-0.1pp | 5.5%+2.4pp | 3.1%-1.1pp | 4.2%-2.3pp | 6.5%+1.7pp | 4.7%0.0pp | 4.7% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 1.3%-0.6pp | 1.9%0.0pp | 1.9%+0.9pp | 1.1%-0.4pp | 1.5%-0.8pp | 2.3%+0.6pp | 1.7%+0.1pp | 1.6% |
| Current Ratio | 0.760.0 | 0.77+0.0 | 0.740.0 | 0.730.0 | 0.720.0 | 0.720.0 | 0.71-0.0 | 0.75 |
| Debt-to-Equity | -11.54+14.0 | -25.49-15.7 | -9.75-2.5 | -7.28+0.4 | -7.72-1.5 | -6.25-0.3 | -5.91+4.3 | -10.18 |
| FCF Margin | 1.0%-8.7pp | 9.8%-0.6pp | 10.4%+11.5pp | -1.1%-1.6pp | 0.5%-9.9pp | 10.5%+1.1pp | 9.3%+5.7pp | 3.6% |
Note: Shareholder equity is negative (-$766.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.76), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Hp Inc's annual revenue?
Hp Inc (HPQ) reported $55.3B in total revenue for fiscal year 2025. This represents a 3.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hp Inc's revenue growing?
Hp Inc (HPQ) revenue grew by 3.2% year-over-year, from $53.6B to $55.3B in fiscal year 2025.
Is Hp Inc profitable?
Yes, Hp Inc (HPQ) reported a net income of $2.5B in fiscal year 2025, with a net profit margin of 4.6%.
What is Hp Inc's EBITDA?
Hp Inc (HPQ) had EBITDA of $4.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hp Inc have?
As of fiscal year 2025, Hp Inc (HPQ) had $3.2B in cash and equivalents against $8.8B in long-term debt.
What is Hp Inc's gross margin?
Hp Inc (HPQ) had a gross margin of 20.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hp Inc's operating margin?
Hp Inc (HPQ) had an operating margin of 5.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Hp Inc's net profit margin?
Hp Inc (HPQ) had a net profit margin of 4.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Hp Inc pay dividends?
Yes, Hp Inc (HPQ) paid $1.16 per share in dividends during fiscal year 2025.
What is Hp Inc's free cash flow?
Hp Inc (HPQ) generated $2.8B in free cash flow during fiscal year 2025. This represents a -11.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hp Inc's operating cash flow?
Hp Inc (HPQ) generated $3.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hp Inc's total assets?
Hp Inc (HPQ) had $41.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hp Inc's capital expenditures?
Hp Inc (HPQ) invested $897.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Hp Inc spend on research and development?
Hp Inc (HPQ) invested $1.6B in research and development during fiscal year 2025.
What is Hp Inc's current ratio?
Hp Inc (HPQ) had a current ratio of 0.76 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Hp Inc's debt-to-equity ratio?
Hp Inc (HPQ) had a debt-to-equity ratio of -11.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hp Inc's return on assets (ROA)?
Hp Inc (HPQ) had a return on assets of 6.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Hp Inc's debt-to-equity ratio negative or unusual?
Hp Inc (HPQ) has negative shareholder equity of -$766.0M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Hp Inc's Altman Z-Score?
Hp Inc (HPQ) has an Altman Z-Score of 1.57, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Hp Inc's Piotroski F-Score?
Hp Inc (HPQ) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hp Inc's earnings high quality?
Hp Inc (HPQ) has an earnings quality ratio of 1.46x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Hp Inc cover its interest payments?
Hp Inc (HPQ) has an interest coverage ratio of 7.4x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Hp Inc?
Hp Inc (HPQ) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.