Analyse produit facultative
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HP Inc.'s published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $28.2B | |
|---|---|---|
| P/E (forward) | 9.9x |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2021-10-31 | 2022-10-31 | 2023-10-31 | 2024-10-31 | 2025-10-31 | Trend |
| Revenue | $63.46B | $62.91B | $53.72B | $53.56B | $55.30B | -3.4% |
| Gross profit | $13.41B | $12.26B | $11.51B | $11.82B | $11.39B | -4.0% |
| Operating income | $5.36B | $4.56B | $3.46B | $3.82B | $3.17B | -12.3% |
| Net income | $6.54B | $3.13B | $3.26B | $2.78B | $2.53B | -21.1% |
| EPS (diluted) | $5.36 | $2.98 | $3.26 | $2.81 | $2.65 | -16.1% |
| EBITDA | $8.61B | $5.46B | $4.47B | $4.72B | $4.09B | -17.0% |
| R&D | $1.85B | $1.65B | $1.58B | $1.64B | $1.60B | -3.5% |
| SG&A | $5.73B | $5.26B | $5.36B | $5.66B | $5.82B | +0.4% |
Recent company headlines from major financial publishers.
The Base case reflects HP's modal operating trajectory as commercial Windows 11 migrations provide steady baseline demand and commercial AI PC penetration expands configuration values. Supply chain mitigations—including motherboard redesigns and alternative supplier qualifications—counter memory cost increases, stabilizing Personal Systems operating margins across FY26 and FY27. Print segment operating profit holds within its 16% to 19% long-term corridor, delivering over $3.0B in annual free cash flow that powers consistent share buybacks under the 2.0x gross leverage ceiling. Diluted EPS advances into FY26, supporting the house Fair value of $34.78.
The Bull case reflects an accelerated commercial hardware refresh cycle where enterprise Windows 11 upgrades converge with widespread corporate adoption of AI-enabled PCs. Richer product mix and security solutions attach elevate average selling prices, driving Personal Systems operating margins above 6.0% as design-for-cost initiatives neutralize memory inflation faster than expected. Concurrently, Print operating profitability benefits from contractual subscription resilience and tariff refund tailwinds, expanding annual free cash flow toward $3.5B. Management deploys robust cash generation into continuous share buybacks, compounding per-share earnings toward the top of consensus estimates ($3.54 in FY27) and unlocking valuation upside toward $45.89.
| Ke ↓ / g → | 1.0% | 1.5% | 2.0% | 2.5% | 3.0% |
|---|---|---|---|---|---|
| 7.9% | $35.9 | $37.6 | $39.6 | $42.1 | $45.1 |
| 8.4% | $33.9 | $35.3 | $37.0 | $39.0 | $41.4 |
| 8.9% | $32.2 | $33.4 | $34.8 | $36.4 | $38.4 |
| 9.4% | $30.7 | $31.7 | $32.9 | $34.3 | $35.9 |
| 9.9% | $29.3 | $30.2 | $31.2 | $32.4 | $33.7 |
Upcoming earnings date and setup when available.
La notation portée par l'édition de recherche publiée chaque mois. Une notation compare le cours à la date d'analyse à la juste valeur ; elle n'indique pas si l'appréciation s'est révélée juste.
| Année | janv. | févr. | mars | avr. | mai | juin | juil. | août | sept. | oct. | nov. | déc. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
