15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 0.5% per year over the past 5 years.
Net income has grown slower than revenue (-2.1% vs -0.5% per year).
Operating margin has been roughly flat, at 5.7% in the latest year.
Free cash flow has declined 5.6% per year over the past 5 years.
Financial health
Total debt ($9.7B) exceeds cash ($3.7B); net debt is $6.0B.
Total debt has grown faster than revenue (9.2% vs -0.5% per year).
Total debt is 2.4× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 43.0% of earnings and 38.9% of free cash flow.
The dividend has grown 1.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$55.3B
$2.5B
20.6%
5.7%
$2.8B
$9.7B
$3.7B
2024
$53.6B
$2.8B
22.1%
7.1%
$3.2B
$9.7B
$3.2B
2023
$53.7B
$3.3B
21.4%
6.4%
$3.0B
$9.6B
$3.1B
2022
$62.9B
$3.1B
19.5%
7.2%
$3.7B
$11.2B
$3.1B
2021
$63.5B
$6.5B
21.1%
8.4%
$5.8B
$7.6B
$4.3B
2020
$56.6B
$2.8B
18.4%
6.1%
$3.7B
$6.3B
$4.9B
2019
$58.8B
$3.2B
19.0%
6.6%
$4.0B
$5.1B
$4.5B
2018
$58.5B
$5.3B
18.2%
6.6%
$4.0B
—
$5.2B
2017
$52.1B
$2.5B
18.4%
6.5%
$3.3B
—
$7.0B
2016
$48.2B
$2.5B
18.7%
7.4%
$2.8B
—
$6.3B
2015
$51.5B
$4.6B
19.3%
7.6%
$3.4B
—
$17.4B
2014
$56.7B
$5.0B
19.8%
7.5%
$8.5B
—
$15.1B
2013
$55.3B
$5.1B
19.0%
6.4%
$8.4B
—
$12.2B
2012
$120.4B
—
0.0%
-9.2%
—
$27.1B
$11.3B
2011
$127.2B
$7.1B
0.0%
7.6%
$8.1B
$26.3B
$8.0B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Apr '26
$14.4B
$450M
20.9%
4.2%
$756M
$9.7B
$3.7B
Jan '26
$14.4B
$545M
19.6%
5.3%
$150M
$9.6B
$3.2B
Oct '25
$14.6B
$795M
20.2%
6.6%
$1.4B
$9.7B
$3.7B
Jul '25
$13.9B
$763M
20.5%
5.1%
$1.4B
$9.6B
$2.9B
Apr '25
$13.2B
$406M
20.7%
4.9%
-$145M
$10.7B
$2.7B
Jan '25
$13.5B
$565M
21.0%
6.3%
$72M
$9.6B
$2.9B
Oct '24
$14.1B
$906M
21.4%
7.1%
$1.5B
$9.7B
$3.2B
Jul '24
$13.5B
$640M
21.5%
7.0%
$1.3B
$9.6B
$2.8B
Apr '24
$12.8B
$607M
23.6%
7.4%
$462M
$9.5B
$2.4B
Jan '24
$13.2B
$622M
21.9%
7.1%
-$37M
$9.5B
$2.3B
Oct '23
$13.8B
$974M
21.6%
7.3%
$1.8B
$9.6B
$3.1B
Jul '23
$13.2B
$766M
21.4%
7.2%
$839M
$9.4B
$1.7B
Apr '23
$12.9B
$1.1B
22.6%
5.8%
$506M
$10.5B
$1.9B
Jan '23
$13.8B
$469M
20.2%
5.4%
-$208M
$10.5B
$1.4B
Oct '22
$14.8B
-$23M
18.2%
5.0%
$1.8B
$11.2B
$3.1B
Jul '22
$14.6B
$1.1B
19.7%
8.6%
$198M
$11.0B
$5.4B
Apr '22
$16.5B
$981M
20.0%
7.6%
$330M
$9.0B
$4.5B
Jan '22
$17.0B
$1.1B
19.9%
8.0%
$1.4B
$7.0B
$3.4B
Oct '21
$16.7B
$3.1B
19.6%
7.4%
$2.7B
$7.6B
$4.3B
Jul '21
$15.3B
$1.1B
22.2%
9.0%
$935M
$7.1B
$3.4B
Valuation over time
How the market has priced HPQ against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 8.6× (Mar '23) to 8.3× (Jun '26).
The price-to-sales ratio has fallen from 0.4× (Mar '23) to 0.4× (Jun '26).
The dividend yield has risen from 3.9% (Mar '23) to 5.2% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is HPQ growing its revenue and profit?
Over the past 5 years, HP Inc.'s revenue has declined 0.5% per year, and net income declined 2.1% per year. These are computed facts, not advice.
How much debt does HPQ have?
As of FY2025, HP Inc. reported $9.7B of total debt against $3.7B of cash.
What is HPQ's profit margin?
In FY2025, gross margin was 20.6%, operating margin 5.7%, and net margin 4.6%.
What is HPQ's P/E ratio?
As of Jun '26, HP Inc. traded at a price-to-earnings ratio of about 8.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.