HP Inc.

Information Technology Technology Hardware, Storage & Peripherals Palo Alto, California Last filing Dec 10, 2025 · FY2025

                    Revenue
                    FY2025
                
$55.3B
                    3y CAGR -4.2%
                    
                    P11
                    
                    +3.2%
                    
                    Net income
                    FY2025
                
$2.5B
                    Net margin +4.6%
                    
                    P12
                    
                    -8.9%
                    
                    Total assets
                    FY2025
                
$41.8B
                    ROA +6.1%
                    
                    P35
                    
                    +4.7%
                    
                    Operating cash flow
                    FY2025
                
$3.7B
                    FCF margin +5.1%
                    
                    P14
                    
                    -1.4%

20 yrs · FY2006–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

33 accounts · 5 years

Total assets $41.8B

Total liabilities $29.3B

Shareholders equity $-346.0M

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$3.7B 14.0%	$3.2B 4.2%	$3.1B -1.2%	$3.1B -26.8%	$4.3B
Short Term Investments	$0 -100.0%	$81.0M 2600.0%	$3.0M -82.4%	$17.0M 240.0%	$5.0M
Accounts Receivable	$5.7B 11.2%	$5.1B 20.8%	$4.2B -6.8%	$4.5B -17.9%	$5.5B
Inventory	$8.5B 10.3%	$7.7B 12.5%	$6.9B -9.7%	$7.6B -4.2%	$7.9B
Prepaid Expenses	$4.5B -2.7%	$4.7B 28.1%	$3.6B -19.2%	$4.5B 2.5%	$4.4B
Other Current Assets	$4.5B -2.7%	$4.7B 28.1%	$3.6B -19.2%	$4.5B 2.5%	$4.4B
Total Current Assets	$22.5B 8.2%	$20.8B 15.5%	$18.0B -9.2%	$19.8B -10.7%	$22.2B
Property,Plant and Equipment	$3.0B 4.6%	$2.9B 3.1%	$2.8B 1.9%	$2.8B 9.0%	$2.5B
Operating Lease Assets	$1.1B -3.1%	$1.2B -1.9%	$1.2B -3.9%	$1.2B 3.7%	$1.2B
Goodwill	$8.7B 0.9%	$8.6B 0.4%	$8.6B 0.6%	$8.5B 25.5%	$6.8B
Intangible Assets	$1.0B -23.3%	$1.3B -17.2%	$1.6B -17.6%	$1.9B 146.6%	$784.0M
Other Noncurrent Assets	$7.6B -0.6%	$7.6B 0.0%	$7.6B 1.8%	$7.5B 5.4%	$7.1B
Total Assets	$41.8B 4.7%	$39.9B 7.9%	$37.0B -4.1%	$38.6B 0.0%	$38.6B
Liabilities
Accounts Payable	$18.1B 6.8%	$16.9B 20.3%	$14.0B -8.1%	$15.3B -4.9%	$16.1B
Accrued Liabilities	$2.3B -4.9%	$2.4B -1.2%	$2.5B -16.3%	$3.0B -7.2%	$3.2B
Deferred Revenue	$1.6B 11.3%	$1.4B 1.5%	$1.4B 2.2%	$1.4B 9.1%	$1.3B
Current Portion of Long Term Debt	$788.0M -42.0%	$1.4B 658.7%	$179.0M 8.5%	$165.0M -75.4%	$672.0M
Operating Lease Liabilities	$401.0M -9.5%	$443.0M 3.0%	$430.0M 6.2%	$405.0M 15.7%	$350.0M
Other Current Liabilities	$10.4B -0.2%	$10.4B 1.6%	$10.2B -4.1%	$10.7B -10.3%	$11.9B
Total Current Liabilities	$29.3B 2.0%	$28.7B 17.1%	$24.5B -6.4%	$26.2B -10.0%	$29.1B
Long Term Debt	$8.8B 6.8%	$8.3B -10.7%	$9.3B -14.3%	$10.8B 69.1%	$6.4B
Deferred Revenue Noncurrent	$1.6B 9.8%	$1.5B 12.3%	$1.3B 13.1%	$1.2B 6.6%	$1.1B
Operating Lease Liabilities Noncurrent	$815.0M 3.6%	$787.0M -4.6%	$825.0M -5.7%	$875.0M -6.5%	$936.0M
Deferred Tax Liabilities	$0 -100.0%	$525.0M -9.5%	$580.0M -19.2%	$718.0M 113.7%	$336.0M
Other Noncurrent Liabilities	$4.0B -5.7%	$4.3B -1.1%	$4.3B -4.9%	$4.6B -5.1%	$4.8B
Total Liabilities	$29.3B	—	—	$26.2B	—
Equity
Preferred Stock	$0	$0	$0	$0	$0
Common Stock	$9.0M -99.9%	$11.5B -0.9%	$11.6B 115680.0%	$10.0M -99.9%	$11.8B
Additional Paid In Capital	$2.1B 19.7%	$1.8B 18.1%	$1.5B 28.4%	$1.2B 10.6%	$1.1B
Retained Earnings	$-2.0B 24.3%	$-2.7B -13.3%	$-2.4B 46.5%	$-4.4B -78.7%	$-2.5B
Accumulated Other Comprehensive Income	$-457.0M -5.3%	$-434.0M -94.6%	$-223.0M -171.2%	$313.0M 227.8%	$-245.0M
Total Stockholders Equity	$-346.0M 73.8%	$-1.3B -23.8%	$-1.1B 64.7%	$-3.0B -84.0%	$-1.6B
Total Liabilitiesand Equity	$41.8B	—	—	$38.6B	—

Income Statement

Revenue, expense, and profitability

21 accounts · 5 years

Revenue $55.3B

Operating income $3.2B

Net income $2.5B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$55.3B 3.2%	$53.6B -0.3%	$53.7B -14.6%	$62.9B -0.9%	$63.5B
Expenses Cost of Revenue	$43.9B 5.2%	$41.7B -1.1%	$42.2B -16.7%	$50.6B 1.2%	$50.1B
Expenses Research and Development	$1.6B -2.3%	$1.6B 3.9%	$1.6B -4.5%	$1.7B -10.6%	$1.8B
Expenses Selling,General and Administrative	$5.8B 2.9%	$5.7B 5.6%	$5.4B 1.8%	$5.3B -8.1%	$5.7B
Expenses Depreciation and Amortization	$916.0M 10.4%	$830.0M -2.4%	$850.0M 9.0%	$780.0M -0.6%	$785.0M
Expenses Share Based Compensation	$522.0M	—	—	$343.0M	—
Expenses Restructuring and Asset Impairment	$327.0M 40.3%	$233.0M -47.5%	$444.0M 130.1%	$193.0M -15.7%	$229.0M
Expenses Operating Expenses	$8.2B 2.7%	$8.0B -0.6%	$8.1B 4.5%	$7.7B -86.7%	$58.1B
Other Income Expense Gross Profit	$11.4B	—	—	$12.3B	—
Other Income Expense Operating Income	$3.2B -16.9%	$3.8B 10.5%	$3.5B -24.2%	$4.6B -14.9%	$5.4B
Other Income Expense Interest Income	$89.0M 14.1%	$78.0M 16.4%	$67.0M 45.7%	$46.0M 48.4%	$31.0M
Other Income Expense Interest Expense	$430.0M	—	—	$359.0M	—
Other Income Expense Other Income/expense	$-16.0M -128.1%	$57.0M 714.3%	$7.0M 136.8%	$-19.0M 13.6%	$-22.0M
Other Income Expense Income Before Tax	$2.7B -18.6%	$3.3B 11.6%	$2.9B -32.1%	$4.3B -42.9%	$7.6B
Income Tax Income Tax Expense	$139.0M -72.4%	$504.0M 254.6%	$-326.0M -127.3%	$1.2B 16.1%	$1.0B
net Income net Income	$2.5B -8.9%	$2.8B -15.0%	$3.3B 4.2%	$3.1B -52.1%	$6.5B
net Income Comprehensive Income	$2.5B -2.3%	$2.6B -6.9%	$2.8B -24.8%	$3.7B -51.4%	$7.5B
Earnings Per Share Basic Eps	$3 -5.7%	$3 -14.0%	$3 8.9%	$3 -44.2%	$5
Earnings Per Share Diluted Eps	$3 -5.7%	$3 -13.8%	$3 9.4%	$3 -44.4%	$5
Earnings Per Share Weighted Average Shares Basic	$946.0M -3.4%	$979.0M -1.3%	$992.0M -4.4%	$1.0B -14.1%	$1.2B
Earnings Per Share Weighted Average Shares Diluted	$953.0M -3.6%	$989.0M -1.1%	$1.0B -4.8%	$1.1B -13.9%	$1.2B

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $3.7B

Investing cash flow $-1.2B

Financing cash flow $-2.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$2.5B -8.9%	$2.8B -15.0%	$3.3B 4.2%	$3.1B -52.1%	$6.5B
Operating Activities Depreciation and Amortization	$916.0M 10.4%	$830.0M -2.4%	$850.0M 9.0%	$780.0M -0.6%	$785.0M
Operating Activities Stock Based Compensation	$522.0M 15.5%	$452.0M 3.2%	$438.0M 27.7%	$343.0M 3.9%	$330.0M
Operating Activities Deferred Income Taxes	$-6.0M 95.1%	$-122.0M 86.8%	$-923.0M -260.0%	$577.0M 199.1%	$-582.0M
Operating Activities Changes In Operating Assets and Liabilities	$1.4B 28.2%	$1.1B 1719.0%	$58.0M 103.9%	$-1.5B -4508.8%	$34.0M
Operating Activities net Cash From Operating Activities	$3.7B -1.4%	$3.7B 5.0%	$3.6B -20.0%	$4.5B -30.4%	$6.4B
Investing Activities Capital Expenditures	$897.0M 51.5%	$592.0M -0.2%	$593.0M -22.5%	$765.0M 31.4%	$582.0M
Investing Activities Business Acquisitions	$116.0M 100.0%	$58.0M 728.6%	$7.0M -99.7%	$2.8B 222.6%	$854.0M
Investing Activities Purchases of Investments	$40.0M 900.0%	$4.0M -63.6%	$11.0M -78.8%	$52.0M 85.7%	$28.0M
Investing Activities net Cash From Investing Activities	$-1.2B -82.2%	$-646.0M -9.5%	$-590.0M 83.4%	$-3.5B -250.7%	$-1.0B
Financing Activities Proceeds From Debt	$1.4B 264.5%	$380.0M 49.0%	$255.0M -93.9%	$4.2B 96.8%	$2.1B
Financing Activities Repayment of Debt	$1.4B 551.2%	$213.0M -87.5%	$1.7B 145.3%	$693.0M -44.3%	$1.2B
Financing Activities Repurchase of Common Stock	$850.0M -59.5%	$2.1B 2000.0%	$100.0M -97.7%	$4.3B -31.2%	$6.2B
Financing Activities Dividends Paid	$1.1B 1.2%	$1.1B 3.7%	$1.0B 0.0%	$1.0B 10.6%	$938.0M
Financing Activities net Cash From Financing Activities	$-2.1B 33.2%	$-3.1B -6.5%	$-2.9B -39.9%	$-2.1B 65.3%	$-6.0B
Cash Reconciliation Effect of Exchange Rate On Cash	$3.7B	—	—	$3.1B	—
Cash Reconciliation net Change In Cash	$460.0M 2090.5%	$21.0M -75.9%	$87.0M 107.5%	$-1.2B -104.2%	$-565.0M
Cash Reconciliation Cash At Beginning of Period	$3.7B 14.4%	$3.2B 4.2%	$3.1B -1.2%	$3.1B -26.8%	$4.3B
Cash Reconciliation Cash At End of Period	$3.7B 14.4%	$3.2B 4.2%	$3.1B -1.2%	$3.1B -26.8%	$4.3B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+20.6%	+22.1%	+21.4%	+19.5%	+21.1%
Operating margin	+5.7%	+7.1%	+6.4%	+7.2%	+8.4%
Net margin	+4.6%	+5.2%	+6.1%	+5.0%	+10.3%
FCF margin	+5.1%	+5.9%	+5.5%	+5.9%	+9.2%
Growth
Revenue CAGR (3y)	-4.2%	-5.5%	-1.7%	+2.3%	+2.8%
Returns
ROE	-730.9%	-209.8%	-305.2%	-103.5%	-397.9%
ROA	+6.1%	+7.0%	+8.8%	+8.1%	+16.9%
ROIC	+54.0%	+50.0%	+63.0%	+68.9%	+208.5%
Liquidity
Current ratio	0.77x	0.72x	0.73x	0.76x	0.76x
Quick ratio	0.32x	0.29x	0.30x	0.29x	0.34x
Leverage
D/E	-84.56x	-31.17x	-35.62x	-8.65x	-24.48x
Interest coverage	7.38x	—	—	12.70x	—
Efficiency
Asset turnover	1.32x	1.34x	1.45x	1.63x	1.64x
Cash conversion cycle	-42d	-45d	-33d	-29d	-28d

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HP Inc.

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