HP Inc. (HPQ)

NYSE: HPQ · USD

$32.4

-1.14 (-3.4%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-05

Our latest published analysis: HPQ rated Buy

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.

Fair value

$34.8 / share

Potential value

$45.9 / share

Upside to FV

+11.4%

from $32.4

Moat

6/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$28.2B
Revenue (ttm)	59.2B
Net income (ttm)	2.5B
EPS (ttm)	$2.63
Shares out	901.8M
P/E (trailing)	12.4x
P/E (forward)	9.9x
Dividend	$1.20 (3.72%)
Volume	9,001,424
Beta	1.19

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 59.2B
Net income (ttm): 2.5B
EPS (ttm): $2.63
P/E (trailing): 12.4x
P/E (forward): 9.9x
Market cap: $28.2B

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%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	보유
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	보유
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	매도
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	보유
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수

Base and Bull scenarios

Base50%

Price target

$34.78

+11.4% from spot

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.

Personal Systems operating margins recover from Q3 trough of 4.6% as component inflation eases and cost mitigation actions take effect across FY26 and FY30.
Print operating margins remain resilient within the 16% to 19% target corridor.
Annual free cash flow meets guided $3.0B to $3.2B range, funding ~100% capital return and driving consistent diluted share retirement.

Bull25%

Price target

$45.89

+46.9% from spot

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.

Commercial AI PC penetration accelerates rapidly, commanding premium pricing and higher solutions attach.
Personal Systems operating margins expand above 6.0% as component inflation eases ahead of schedule.
Print operating margins track toward the upper end of the 16% to 19% corridor, lifting free cash flow toward $3.5B.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($34.78). Each row and column shows what Fair value becomes when one assumption moves.

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

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E9.9

P25 n/aP50 n/aP75 n/a

Trailing P/E12.3

P25 n/aP50 n/aP75 n/a

ROEn/a

P25 n/aP50 n/aP75 n/a

ROIC27.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All HPQ indicators

Market & fundamental data

Available fields

282

Groups with data

Currency

USD

Showing 282 of 282 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000047217
Company name	HP Inc.
Country	United States
Country code	US
CUSIP number	40434L105
Earnings date	2026-11-24
Earnings time	amc
Employees	55,000
Employees change	-3,000
Employees growth	-5.17%
Enterprise value	$35.4B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-07-31
First seen	2026-05-09
Fiscal year end	October
Founded	1939
In index	SP500
Industry	Computer Hardware
Is primary listing	Yes
Is SPAC	No
ISIN number	US40434L1052
Last 10-K release date	2025-12-10
Last earnings date	2026-08-26
Last refreshed	2026-10-28
Last stock split date	2000-10-30
Last stock split type	Forward
Market cap	$29.3B
Market cap category	Large-Cap
Next earnings date	2026-11-24
Options	Yes
Price	$32.45
Price currency	USD
Sector	Technology
SIC code	3570
Stock price date	2026-10-28
Symbol	HPQ
U.S. state	California
Website	https://www.hp.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	9.46x
Average P/E ratio (10Y)	9.43x
Average P/E ratio (3Y)	9.58x
Average P/E ratio (5Y)	9.25x
Earnings yield	8.09%
EV/Earnings	14.41x
EV/EBIT	9.17x
EV/EBITDA	7.62x
EV/FCF	9.1x
EV/Sales	0.6x
FCF / EV yield	10.99%
FCF yield	13.31%
Forward EV/Sales	0.59x
Forward P/E	10.78x
Forward P/S	0.48x
Industry forward P/E	13.99x
Industry P/E	27.36x
Lynch fair value	$13.13
Lynch upside	-59.4%
P/(FCF - SBC) ratio	8.57x
P/(OCF - SBC) ratio	6.96x
P/E ratio	12.36x
P/FCF ratio	7.51x
P/OCF ratio	6.25x
P/S ratio	0.49x
PEG ratio	3.87x
Price/EBITDA ratio	6.29x
Sector forward P/E	18.55x
Sector P/E	32.64x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	6.51%
EBITDA margin	7.84%
Effective tax rate	12.34%
FCF margin	6.56%
Gross margin	19.66%
Operating margin	6.51%
Pretax margin	4.73%
Profit margin	4.14%
Profit per employee	$44,564
Profitable quarters	15
Profitable years	13
Revenue per employee	$1.1M
ROA	5.63%
ROA (5Y)	7.65%
ROCE	32.83%
ROIC	27.61%
ROIC (5Y)	37.07%
SBC / revenue	0.81%
Tax / revenue	0.58%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-4.87%
EPS growth (Q)	-11.25%
EPS growth (QoQ)	45.47%
EPS growth 10Y	3.43%
EPS growth 3Y	5.22%
EPS growth 5Y	-3.84%
EPS growth years	0
FCF growth	36.51%
FCF growth (Q)	7.05%
FCF growth (QoQ)	104.76%
FCF growth 3Y	10.24%
FCF growth 5Y	-4.59%
Gross profit growth	1.75%
Gross profit growth (Q)	-1.16%
Gross profit growth 3Y	1.22%
Gross profit growth 5Y	-1.94%
Net income growth	-7.16%
Net income growth (Q)	-13.37%
Net income growth (QoQ)	46.89%
Net income growth 3Y	2.65%
Net income growth 5Y	-9.65%
Net income growth years	0
OCF growth	26.3%
OCF growth (Q)	4.46%
OCF growth (QoQ)	87.37%
OCF growth 10Y	-0.99%
OCF growth 3Y	10.07%
OCF growth 5Y	-3%
Operating income growth	4.5%
Operating income growth (Q)	1.08%
Operating income growth 3Y	-1.58%
Operating income growth 5Y	-6.23%
Revenue growth	8.14%
Revenue growth (Q)	12.53%
Revenue growth (QoQ)	8.81%
Revenue growth 10Y	2.11%
Revenue growth 3Y	2.66%
Revenue growth 5Y	-0.96%
Revenue growth quarters	9
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-787M
Depreciation and amortization	$783M
EBIT	$3.9B
EBITDA	$4.6B
EPS	$2.63
FCF per share	$4.30
Financing cash flow	$-2.8B
Free cash flow	$3.9B
Free cash flow minus SBC	$3.4B
Gross profit	$11.6B
Income taxes	$345M
Investing cash flow	$-529M
Net borrowing	$-417M
Net cash flow	$1.3B
Net income	$2.5B
Operating cash flow minus SBC	$4.2B
Operating income	$3.9B
Revenue	$59.2B
Stock-based compensation	$479M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	1.6
Book value per share	$-0.10
Debt / EBITDA	2.07
Debt / FCF	2.66
Goodwill	$8.7B
Interest coverage	9.78
Long-term assets	$19B
Long-term liabilities	$11.8B
Net cash (debt)	$-6.2B
Net cash / market cap	-21.16%
Net debt / EBITDA	1.33
Net debt / FCF	1.59
Piotroski F-Score	6
Property, plant and equipment	$4.2B
Shareholders' equity	$-92M
Tangible book value	$-9.6B
Tangible book value per share	$-10.65
Total assets	$45.7B
Total cash	$4.2B
Total debt	$10.3B
Total liabilities	$45.8B
WACC	8.84%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	1.38
Current assets	$26.7B
Current liabilities	$34B
Current ratio	0.79
Inventory turnover	5.09
Net working capital	$-9.7B
Quick ratio	0.44
Working capital	$-7.2B
Working capital turnover	-8.16

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.89%
Dividend growth	3.66%
Dividend growth (10Y)	9.24%
Dividend growth (3Y)	4.55%
Dividend growth (5Y)	9.13%
Dividend growth years	9
Dividend payment date	2026-10-07
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$1.20
Dividend yield	3.72%
Ex-dividend date	2026-09-09
FCF payout ratio	27.88%
Last dividend	$0.30
Payout ratio	45.71%
Shareholder yield	6.61%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	132.31%
10Y return CAGR	12.55%
10Y total return	226.2%
150-day SMA	$26.20
15Y price change	20.42%
15Y return CAGR	10.11%
15Y total return	324.11%
1D price change	-3.38%
1M price change	3.83%
1M total return	3.83%
1W price change	4.13%
1W total return	4.13%
1Y price change	16.4%
1Y return CAGR	22.35%
1Y total return	22.34%
20-day SMA	$31.73
200-day SMA	$24.44
20Y price change	-15.5%
20Y return CAGR	5.83%
20Y total return	210.58%
3M price change	22.41%
3M total return	23.6%
3Y price change	25.77%
3Y return CAGR	12.48%
3Y total return	42.32%
50-day SMA	$31.69
50-day SMA vs 200-day SMA	50over200
52-week high	$36.23
52-week high date	2026-09-11
52-week low	$17.56
52-week low date	2026-02-25
5Y price change	9.43%
5Y return CAGR	5.73%
5Y total return	32.12%
6M price change	64.47%
6M total return	68.09%
All-time high	$77.75
All-time high date	2000-03-10
All-time low	$0.30
All-time low date	1970-08-13
Average true range (ATR)	$1.29
Average volume	11.4M
Beta (1Y)	0.8
Beta (2Y)	1.17
Beta (5Y)	1.19
Change from 52-week high	-10.43%
Change from 52-week low	84.77%
Change from all-time high	-58.2%
Change from all-time low	10,636.7%
Change from open	-2.86%
Day's gap	-0.54%
Dollar volume	$292.1M
High price	$33.44
Low price	$32.19
Monthly RSI	59.12
Open price	$33.40
Position in 52-week range	20.4%
Premarket change	-1.55%
Premarket close	$33.58
Premarket price	$33.06
Premarket volume	17.7K
Previous close	$33.58
Price vs 150-day SMA	24.04%
Price vs 20-day SMA	2.44%
Price vs 200-day SMA	32.97%
Price vs 50-day SMA	2.55%
Relative volume	0.79
RSI	53.35
Sharpe ratio	0.58
Sharpe ratio (3Y)	0.39
Sharpe ratio (5Y)	0.25
Sortino ratio	1.09
Sortino ratio (3Y)	0.75
Sortino ratio (5Y)	0.53
Volume	9M
Weekly RSI	59.98
YTD price change	45.87%
YTD total return	51.5%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	898.9M
Float percentage	99.68%
Shares change (QoQ)	0.22%
Shares change (YoY)	-2.89%
Shares held by insiders	0.22%
Shares held by institutions	95.17%
Shares outstanding	901.8M
Short % of float	8.13%
Short % of shares	8.1%
Short ratio	4.5 days

Deeper analysis on HPQ

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this HPQ report

What is the latest published HPQ stock rating?

HP Inc. is shown with Buy in the latest published report, analyzed 2026-10-05. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full HPQ analysis?

The full latest published report, analyzed 2026-10-05, lives at /stocks/HPQ/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for HPQ?

The latest published report analyzed 2026-10-05 gives HPQ a fair value of USD 35 and a potential value of USD 46. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the HPQ page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-05). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyHPQ · Fair value $34.8+11.4%

Read full analysis →

HP Inc. (HPQ)

Our latest published analysis: HPQ rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · HPQ

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All HPQ indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on HPQ

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	7.5
Management	6.5
Balance Sheet	3.0
Profitability	5.0
Revenue Growth	6.0
Risk Assessment	4.5
Competitive Moat	6.0
Earnings Quality	6.0
Capital Efficiency	6.5