HP Inc.
- Open
- 22.52
- Day high
- 22.65
- Day low
- 21.80
- Prev close
- 22.64
- Volume
- 20.4M
- Mkt cap
- $20.2B
- P/E (TTM)
- 8.1
- EPS (TTM)
- $2.72
- P/B
- -140.5
- P/S
- 0.4
- Yield
- 5.38%
- Per share
- $1.19
- ▼Insiders net selling -$260K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
HP Inc. (HPQ) is a Technology company listed on NYSE. The stock is down 7% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 1 published research article covering HPQ.
HP Inc. (HPQ) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HPQ earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 27, 2026 | $0.71 | $0.86 | +21.0% | $14.4B | +3.0% |
| Feb 24, 2026 | $0.77 | $0.81 | +5.2% | $14.4B | +2.5% |
| Nov 25, 2025 | $0.92 | $0.93 | +1.0% | $14.6B | +1.0% |
| Aug 27, 2025 | $0.74 | $0.75 | +0.7% | $13.9B | +1.8% |
| May 28, 2025 | $0.78 | $0.71 | -8.4% | $13.2B | +0.9% |
| Feb 27, 2025 | $0.75 | $0.74 | -0.8% | $13.5B | +0.9% |
| Nov 26, 2024 | $0.93 | $0.93 | +0.0% | $14.1B | +0.5% |
| Aug 28, 2024 | $0.86 | $0.83 | -3.5% | $13.5B | +0.7% |
| May 29, 2024 | $0.81 | $0.82 | +1.1% | $12.8B | +1.2% |
| Feb 28, 2024 | $0.81 | $0.81 | +0.0% | $13.2B | -2.8% |
| Nov 21, 2023 | $0.90 | $0.90 | +0.0% | $13.8B | +10.6% |
| Aug 29, 2023 | $0.86 | $0.86 | +0.0% | $13.2B | -1.4% |
HPQ insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 16, 2026 | McQuarrie David P.officer: Chief Commercial Officer | Sell | 10,524 | $24.68 |
| Apr 20, 2026 | Rucker Kim K.W.director | Grant | 12,176 | — |
| Apr 20, 2026 | Francisco Ma. Fatimadirector | Grant | 12,176 | — |
| Apr 20, 2026 | BROWN-PHILPOT STACYdirector | Grant | 12,176 | — |
| Apr 20, 2026 | Citrino Mary Annedirector | Grant | 12,176 | — |
| Apr 20, 2026 | Citrino Mary Annedirector | Grant | 6,088 | — |
| Apr 20, 2026 | Miscik Judith Adirector | Grant | 12,176 | — |
| Apr 20, 2026 | Yoon Songyeedirector | Grant | 12,176 | — |
| Apr 20, 2026 | CLEMMER RICHARD Ldirector | Grant | 12,176 | — |
| Apr 20, 2026 | BURNS STEPHANIEdirector | Grant | 12,176 | — |
| Apr 20, 2026 | Bergh Charles Vdirector | Grant | 6,088 | — |
| Apr 20, 2026 | Pettiti Gianlucadirector | Grant | 12,176 | — |
| Apr 20, 2026 | CLEMMER RICHARD Ldirector | Grant | 6,088 | — |
| Apr 20, 2026 | Bergh Charles Vdirector | Grant | 12,176 | — |
| Apr 20, 2026 | Meline David Wdirector | Grant | 12,176 | — |
Source: HPQ SEC Form 4 filings, latest Jun 16, 2026. For informational purposes only — not investment advice.
See the full HPQ insider & 13F page →HP Inc. company profile
Overview
HP Inc. (NYSE:HPQ) is a multinational technology company founded in 1939 by Bill Hewlett and Dave Packard in a garage in Palo Alto, California. Originally known as Hewlett-Packard Company, the company underwent a major corporate restructuring in 2015, splitting into two separate entities: HP Inc., which retained the personal computing and printing businesses, and Hewlett Packard Enterprise, which focused on enterprise technology services. Today, HP Inc. stands as one of the world's largest manufacturers of personal computers and printers, serving individual consumers, small and medium businesses, and large enterprises across government, healthcare, and education sectors globally.
Business
HP Inc. operates in the computer hardware industry, primarily focusing on two core business segments that generate distinct revenue streams. The company's business is structured around personal computing devices and printing solutions, representing mature but essential technology markets. The Personal Systems segment encompasses the design, manufacturing, and sale of desktop computers, laptop computers, workstations, thin clients, commercial mobility devices, retail point-of-sale systems, displays, and related peripherals. This segment also includes software solutions and support services. Personal Systems represents approximately 60-65% of HP's total revenue. The segment serves both commercial customers (businesses, government agencies, educational institutions) and individual consumers, with commercial sales typically generating higher margins and representing about two-thirds of segment revenue. Recent innovations include AI-powered PCs that integrate artificial intelligence capabilities directly into the hardware and software experience. The Printing segment provides consumer and commercial printer hardware, ink and toner supplies, printing solutions, and related services. This segment accounts for roughly 35-40% of total company revenue. The printing business operates on a traditional "razor and blade" model where printers are sold at relatively low margins, but the ongoing sale of ink and toner supplies generates high-margin recurring revenue. The segment includes home printers, office printers, large-format printers for graphics and industrial applications, and 3D printing solutions. HP has been expanding subscription-based printing services where customers pay monthly fees for printing services including automatic ink delivery. The Corporate Investments segment represents a small portion of revenue and includes HP Labs research and development activities, business incubation projects, and strategic investments in emerging technologies.
Revenue model
HP Inc. generates revenue through multiple complementary business models that leverage both product sales and recurring service revenue streams. In the Personal Systems business, HP primarily makes money through direct product sales of computers, laptops, workstations, and related hardware to retailers, distributors, and directly to end customers. The company sells to three main customer categories: individual consumers who purchase through retail channels, small and medium businesses that buy directly or through channel partners, and large enterprises and government organizations that often negotiate volume contracts. Commercial customers typically pay premium prices for business-grade features like enhanced security, management software, and extended warranties. The recent introduction of AI PCs commands a 5-10% price premium over traditional computers, representing an important margin expansion opportunity. The Printing segment operates on a more sophisticated business model combining hardware sales with high-margin recurring revenue from supplies. Printers themselves are often sold at low margins or even losses to establish an installed base, while ink and toner cartridges generate substantial ongoing profits with gross margins often exceeding 60%. HP has been expanding subscription services where customers pay monthly fees for printing services, including automatic supply delivery and enhanced software features. This subscription model provides predictable recurring revenue and stronger customer relationships. Several factors significantly impact HP's profitability margins. Commodity costs for components like memory, processors, and raw materials directly affect gross margins, particularly in the price-sensitive PC market. Currency fluctuations impact international operations since HP manufactures globally but reports in US dollars. Competitive pricing pressure from companies like Dell, Lenovo, and Canon requires constant margin management. Product mix heavily influences profitability, as commercial products and printing supplies carry much higher margins than consumer PCs. Supply chain efficiency affects costs, with HP actively diversifying manufacturing away from China to mitigate tariff risks. Finally, market demand cycles for PC refreshes, particularly driven by Windows upgrades or corporate hardware refresh cycles, create significant volume and margin variability.
Competitive moat
HP Inc. possesses a moderate but not insurmountable competitive moat built primarily around brand recognition, distribution relationships, and the installed base economics of its printing business. The company's strongest moat exists in the printing segment, where HP maintains approximately 40% global market share and benefits from significant switching costs. Once customers purchase HP printers, they typically continue buying HP-branded ink and toner cartridges for years, creating a captive revenue stream. The proprietary cartridge designs, combined with customer habits and the inconvenience of switching printer brands, provide meaningful protection. However, this moat faces ongoing pressure from generic cartridge manufacturers and increasing customer price sensitivity. In Personal Systems, HP's moat is considerably weaker. The PC market is highly commoditized with multiple capable competitors including Dell, Lenovo, Apple, and Asus. HP's advantages include strong brand recognition, particularly in commercial markets, established relationships with major retailers and corporate buyers, and economies of scale in procurement and manufacturing. The company's focus on premium design and AI-enabled features provides some differentiation, but these advantages are not sustainable long-term as competitors can replicate similar capabilities. HP's moat faces several significant threats. Technology disruption poses the greatest risk, as cloud computing reduces demand for traditional PCs, mobile devices continue replacing some computer functions, and digital transformation reduces printing needs. Competitive pressure from well-funded rivals with similar capabilities limits pricing power. Supply chain vulnerabilities and component shortages can disrupt HP's cost advantages. The company's moat is further weakened by the cyclical nature of both PC and printing markets, making it difficult to maintain consistent competitive advantages during demand downturns. Overall, HP operates in mature, competitive markets where technological moats are limited and customer switching costs are moderate. The company's scale and brand provide some protection, but these advantages are not sufficient to guarantee long-term market dominance.
Risks & safety
HP Inc. presents a mixed margin of safety profile with reasonable financial stability but limited growth prospects and moderate valuation concerns. **Financial Stability:** - Cash position of $2.9 billion provides adequate liquidity buffer - Current ratio of 0.72 indicates potential working capital constraints, though this is partially offset by strong cash flow generation - Negative shareholders' equity of approximately -$1.3 billion due to aggressive share repurchases and debt structure, creating technical insolvency risk - Free cash flow of $3.2 billion annually demonstrates strong cash generation capability - Debt levels appear manageable with ability to service obligations through operating cash flow **Valuation Metrics:** - Price-to-earnings ratio of 13.6x appears reasonable for a mature technology company - EV/EBITDA of 9.3x suggests moderate valuation relative to cash flow generation - Price-to-book ratio is negative due to negative book value, making traditional value metrics less meaningful **Other Considerations:** - Mature, declining end markets for both PCs and printing create limited upside potential - Strong dividend yield and share repurchase program provide some downside protection - Cyclical business model creates earnings volatility risk - Ongoing cost reduction programs ($1.9 billion target) may provide margin support during downturns
Recent development
Over the past few years, HP Inc. has undergone significant strategic transformation focused on adapting to changing technology trends and improving operational efficiency. The company launched its comprehensive "Future Ready" transformation plan targeting $1.9 billion in gross annual structural cost savings by fiscal 2025, including workforce reductions of 4,000-6,000 employees over three years. This initiative emphasizes digital transformation, portfolio optimization, and operational efficiency while maintaining investments in growth areas. The most significant strategic pivot has been HP's aggressive push into artificial intelligence-enabled computing. The company launched what it claims is the world's first comprehensive AI PC portfolio, introducing AI-powered models across its product lines. HP developed the HP AI Companion software platform and established partnerships with NVIDIA, Qualcomm, and AMD to integrate advanced AI capabilities directly into personal computers. The company expects AI PCs to represent 25% of shipments by the end of fiscal 2025, growing to 40-50% penetration by 2027, commanding 5-10% price premiums over traditional computers. In printing, HP has expanded its subscription-based business model through services like HP+ and print subscription programs, aiming to create more predictable recurring revenue streams. The company has also invested in industrial graphics and 3D printing capabilities to diversify beyond traditional office printing. Recent acquisitions include Cybercore Technologies for government cybersecurity solutions and strategic assets from Humane to accelerate AI ecosystem development. HP has been actively diversifying its supply chain away from China-based manufacturing to mitigate tariff risks and geopolitical tensions, leveraging its global manufacturing network across multiple countries. The company has also strengthened its commercial focus, with commercial revenue now representing over two-thirds of Personal Systems revenue, reflecting a strategic emphasis on higher-margin business customers over price-sensitive consumer markets.
HPQ company profile · for informational purposes only — not investment advice.
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