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HP Inc. provides personal computing, printing, 3D printing, hybrid work, gaming, and other related technologies in the United States and internationally. The company operates through three segments: Personal Systems, Printing, and Corporate Investments. The Personal Systems segment offers commercial and consumer desktops and notebooks, workstations, thin clients, retail point-of-sale systems, displays, software, hybrid systems, and endpoint security and services, as well as lifecycle services, including support and deployment, configurations, and extended warranty services. The Printing segment provides consumer and commercial printer hardware, supplies, and solutions, as well as office and home printing solutions; and focuses on graphics, 3D printing, and personalization solutions for the commercial and industrial markets. The Corporate Investments segment is involved in the business incubation and investment projects. It serves small- and medium-sized businesses, public sector, and enterprises. The company was formerly known as Hewlett-Packard Company and changed its name to HP Inc. in October 2015. HP Inc. was founded in 1939 and is headquartered in Palo Alto, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $55.3B | $4.1B | $2.5B | $2.8B | -730.9% | 3.2% | -8.9% |
| 2024 | $53.6B | $4.7B | $2.8B | $3.2B | -209.8% | -0.3% | -15.0% |
| 2023 | $53.7B | $4.5B | $3.3B | $3.0B | -305.2% | -14.6% | 4.2% |
| 2022 | $62.9B | $5.5B | $3.1B | $3.7B | -103.5% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 62,910 | 53,718 | 53,559 | 55,295 |
| Operating Revenue | - | 62,910 | 53,718 | 53,559 | 55,295 |
| Cost Of Revenue | - | 50,647 | 42,210 | 41,741 | 43,903 |
| Gross Profit | - | 12,263 | 11,508 | 11,818 | 11,392 |
| Operating Expense | - | 7,146 | 7,285 | 7,616 | 7,768 |
| Research And Development | - | 1,653 | 1,578 | 1,640 | 1,602 |
| Selling General And Administration | - | 5,264 | 5,357 | 5,658 | 5,821 |
| Total Expenses | - | 57,793 | 49,495 | 49,357 | 51,671 |
| Operating Income | - | 5,117 | 4,223 | 4,202 | 3,624 |
| Total Operating Income As Reported | - | 4,559 | 3,456 | 3,818 | 3,174 |
| EBITDA | - | 5,463 | 4,471 | 4,716 | 4,139 |
| Normalized EBITDA | - | 6,022 | 5,131 | 5,103 | 4,537 |
| EBIT | - | 4,683 | 3,621 | 3,886 | 3,223 |
| Interest Expense | - | 359 | 684 | 607 | 555 |
| Net Interest Income | - | -359 | -684 | -607 | -555 |
| Other Non Operating Income Expenses | - | 125 | 58 | 71 | -3 |
| Other Income Expense | - | -434 | -602 | -316 | -401 |
| Interest Expense Non Operating | - | 359 | 684 | 607 | 555 |
| Net Non Operating Interest Income Expense | - | -359 | -684 | -607 | -555 |
| Pretax Income | - | 4,324 | 2,937 | 3,279 | 2,668 |
| Tax Provision | - | 1,192 | -326 | 504 | 139 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -154.28 | -138.60 | -59.60 | -20.70 |
| Net Income Continuous Operations | - | 3,132 | 3,263 | 2,775 | 2,529 |
| Net Income From Continuing And Discontinued Operation | - | 3,132 | 3,263 | 2,775 | 2,529 |
| Net Income From Continuing Operation Net Minority Interest | - | 3,132 | 3,263 | 2,775 | 2,529 |
| Net Income | - | 3,132 | 3,263 | 2,775 | 2,529 |
| Net Income Common Stockholders | - | 3,132 | 3,263 | 2,775 | 2,529 |
| Net Income Including Noncontrolling Interests | - | 3,132 | 3,263 | 2,775 | 2,529 |
| Normalized Income | - | 3,536.72 | 3,784.40 | 3,102.40 | 2,906.30 |
| Diluted NI Availto Com Stockholders | - | 3,132 | 3,263 | 2,775 | 2,529 |
| Basic Average Shares | - | 1,038 | 992 | 979 | 946 |
| Diluted Average Shares | - | 1,050 | 1,000 | 989 | 953 |
| Reconciled Depreciation | - | 780 | 850 | 830 | 916 |
| Reconciled Cost Of Revenue | - | 50,095 | 41,710 | 41,229 | 43,332 |
| Total Unusual Items | - | -559 | -660 | -387 | -398 |
| Total Unusual Items Excluding Goodwill | - | -559 | -660 | -387 | -398 |
| Special Income Charges | - | -559 | -660 | -387 | -398 |
| Other Special Charges | -2,288 | - | -107 | 3 | -52 |
| Restructuring And Mergern Acquisition | - | 559 | 767 | 384 | 450 |
| Depreciation Amortization Depletion Income Statement | - | 228 | 350 | 318 | 345 |
| Depreciation And Amortization In Income Statement | - | 228 | 350 | 318 | 345 |
| General And Administrative Expense | 5,741 | 5,264 | - | - | - |
| Other Gand A | 5,741 | 5,264 | - | - | - |
| Salaries And Wages | -37 | 0 | - | - | - |
| Selling And Marketing Expense | 5,741 | 5,264 | - | - | - |
| Amortization | - | 228 | 350 | 318 | 345 |
| Amortization Of Intangibles Income Statement | - | 228 | 350 | 318 | 345 |
| Other Taxes | 0 | 1 | 0 | 0 | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| HP Inc.this co. | HPQ | $24.1B | 9.51↓ discount | -69.51 | -730.9% | 7.55 |
| VeriSign, Inc. | VRSN | $26.7B | 32.38 | -12.41 | -38.3% | 23.99 |
| Atlassian Corporation | TEAM | $25.8B | -100.35 | 19.14 | -19.1% | 1018.89 |
| Cognizant Technology Solutions Corporation | CTSH | $25.3B | 11.33 | 1.68 | 14.9% | 6.02 |
| Corpay, Inc. | CPAY | $23.3B | 21.82 |
| - |
| - |
| - |
| 6.01 |
| 27.5% |
| 13.23 |
| Akamai Technologies, Inc. | AKAM | $23.1B | 51.13 | 4.64 | 9.1% | 20.57 |
| F5, Inc. | FFIV | $23.1B | 33.30 | 6.42 | 19.3% | 24.86 |
| Zscaler, Inc. | ZS | $21.9B | -527.34 | 12.16 | -2.3% | 196.82 |
| Fidelity National Information Services, Inc. | FIS | $21.4B | 56.13 | 1.54 | 2.7% | 9.90 |
| Peer Median | - | 27.10 | 5.33 | 5.9% | 22.28 | |