HPQ
HP INC
Next earnings Aug 25, 2026 (after close) · consensus $0.66 EPS, $14.4B rev
Last earnings +4.3% on 2026-05-27
$21.93
▼ -3.14%$21.93▼ -6.92%
over 1Y
L $17.69H $28.99
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-3.1%
1W-4.3%
1M-18.7%
3M+13.8%
YTD+2.0%
1Y-6.9%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 26 analysts
Hold
Dirt-cheap cash machine (8.6x P/E, ~13% FCF yield) but profits keep eroding under printing-demand and memory-cost pressure — own, don't chase.
P/E (price / FY diluted EPS) 8.6 · FY2025
The read
Fundamentals and price both look middling — no strong edge either way.
HPQ is the textbook cheap-but-shrinking hardware franchise. At $22.88 it trades at 8.6x FY2025 diluted EPS of $2.65 and just 0.4x its $55.3B in revenue, while throwing off $3.70B of operating cash flow against $897M of capex — roughly $2.8B of free cash flow, a ~13% yield on the $21.0B market cap that comfortably funds the $1.09B dividend and $850M of buybacks. That valuation reflects real deterioration, not a market mistake: net income fell -8.9% to $2.53B, operating income dropped -16.9% to $3.17B, and operating margin is down to 5.7% with gross margin at just 20.6%. The five-year trend is the core problem — revenue has slid from $63.5B (FY2021) to $55.3B and net income has more than halved from $6.54B, so the modest +3.2% revenue uptick this year did not translate into earnings because profitability is leaking faster than the top line recovers.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 29, 2026, 8:18 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $63.5B | $62.9B | $53.7B | $53.6B | $55.3B |
| Gross profit | — | $12.3B | $11.5B | $11.8B | $11.4B |
| Operating income | $5.36B | $4.56B | $3.46B | $3.82B | $3.17B |
| Net income | $6.54B | $3.13B | $3.26B | $2.77B | $2.53B |
| Diluted EPS | $5.36 | $2.98 | $3.26 | $2.81 | $2.65 |
| Net margin | 10.3% | 5.0% | 6.1% | 5.2% | 4.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$26.0B
EV / EBITDA6.4
EV / Sales0.5
EV / FCF9.3
P / FCF7.2
PEG (trailing)—
Earnings yield12.6%
FCF yield14.0%
Quality & risk
ROIC (est.)—
Free cash flow$2.80B
Total debt$9.61B
Net cash-$5.92B
Piotroski F-Score5/9
Capital returns
Buyback yield4.2%
Dividend yield (est.)5.4%
Shareholder yield9.7%
Shares Δ YoY-2.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Charter / bylaws change2026-06-26
Bylaw/charter amendment filed; administrative governance change only.
- 10-Q Quarterly report2026-05-28
Q2 FY2026 filed; margins squeezed by rising memory/storage costs.
- 8-K Earnings results2026-05-27
Furnished fiscal Q2 2026 earnings release; results in line with soft trend.
- 8-K Officer / director change2026-04-21
Annual meeting vote results plus director/officer changes disclosed.
- DEF 14A Proxy statement2026-02-25
Q1 FY2026 filed; demand and pricing pressures persist.
- 10-Q Quarterly report2026-02-25
Q1 FY2026 filed; demand and pricing pressures persist.
- 8-K Earnings results2026-02-24
Furnished fiscal Q1 2026 earnings release.
- 8-K Officer / director change2026-02-03
Leadership change, bylaw amendment and prelim update furnished (Reg FD).
- 8-K/A Amended 8-K2025-12-29
Amended a prior 8-K (exhibits/financials update); no new operating news.
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-242026-06-26open ↗4Period ending 2026-06-122026-06-16open ↗144Filing2026-06-12open ↗11-KPeriod ending 2025-12-312026-06-09open ↗SDFiling2026-05-29open ↗10-QPeriod ending 2026-04-302026-05-28open ↗8-KPeriod ending 2026-05-272026-05-27open ↗SCHEDULE 13GFiling2026-04-30open ↗SCHEDULE 13GFiling2026-04-29open ↗8-KPeriod ending 2026-04-162026-04-21open ↗4Period ending 2026-04-162026-04-20open ↗4Period ending 2026-04-162026-04-20open ↗
Frequently asked
- Is HP INC (HPQ) a buy?
- HPQ currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Dirt-cheap cash machine (8.6x P/E, ~13% FCF yield) but profits keep eroding under printing-demand and memory-cost pressure — own, don't chase.
- What is HPQ's fair value?
- A Modified-Graham model based on HPQ's SEC fundamentals estimates a fair value of about $21.40. It is an estimate from reported earnings, not a price target.
- Is HPQ overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, HPQ currently appears fairly valued relative to its SEC-grounded earnings power.
- What is HP INC's quality score?
- HPQ scores 58.36813964152409/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000047217, latest 10-Q filed 2026-05-28) · EODHD · Proprietary analysis · as of 6/29/2026, 12:18:02 PM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.