HP Inc. (HPQ)

Product makes up 94% of revenue and Service 6%; by geography, Americas account for 43%, Europe, Middle East and Africa 34%, Asia-Pacific and Japan 24%. HP Inc. reported 2 product lines in fiscal 2025: Product at $52 billion (94%), Service at $3.3 billion (6%); both grew against the year before. 21

Past

HP Inc.'s revenue went from $48 billion in fiscal 2016 to $55 billion in fiscal 2025, up 1.5% a year; it rose in 5 of 9 years; the deepest fall was 16% from fiscal 2021 to fiscal 2024; net income was positive in 10 of 10 of those years. Over the 3 fiscal years to 2025-10-31, the diluted share count shrank about 3.2% a year, and dividends and buybacks returned about 57% of operating cash flow over 3 years. Its officers and directors filed 11 sales (9 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-10-06. HP Inc.'s filings since 2017 show no warning events: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice. 1

Present

In its latest annual figures on file, for the fiscal year ended 2025-10-31, it reported revenue of $55 billion and a profit of $2.5 billion. Return on equity is not read because shareholders' equity was below zero; gross profitability is about 27 cents per dollar of everything the company owns; leverage is about 101 cents per dollar of assets, and the share count shrank 3.6% over the year. Revenue of $55 billion in fiscal 2025 ranks in the top 2% by size among its industry family; a net margin of 4.6% ranks in the bottom 37%; revenue growth of -4.2% a year over the last 3 filed years ranks in the bottom 23%. 21

The chief executive on the record is Broussard, Bruce D (Interim CEO, as filed), filing under that title since 2026-02-05, 8 months; the 19 officers and directors filing in the last fifteen months have been on the record a median of 4 years; 14 officer or director changes were reported on Form 8-K since 2023-10-21, against the 19 people in charge now. 1

Future

The annual report (Form 10-K) for the fiscal year ending 2026-10-31 is due by 2026-12-30. The quarterly report (Form 10-Q) for the quarter ending 2027-01-31 is due by 2027-03-12. 3

Cash of $3.7 billion against debt of $9.7 billion leaves -14.4% of its assets as net cash; cash from operations less capital spending is 5.1% of revenue; a gross margin of 20.6%; research spending of 2.9% of revenue. Revenue grew -4.2% a year over the last three filed years against 1.5% over all 10, slowing; the newest year grew 3.2%; research spending grew -1% a year; capital spending grew 5.4% a year. Revenue of $55 billion in fiscal 2025 came in 11.9% above the $49 billion its prior three years' pace pointed to; net income of $2.5 billion against a prior three-year average of $3.1 billion; a net margin of 4.6% against 5.4% before. 1

How the company operates

Product makes up 94% of revenue and Service 6%; by geography, Americas account for 43%, Europe, Middle East and Africa 34%, Asia-Pacific and Japan 24%. HP Inc. reported 2 product lines in fiscal 2025: Product at $52 billion (94%), Service at $3.3 billion (6%); both grew against the year before. 21

New moves

On 2026-02-03, Form 8-K reported results released, officer or director change, charter or bylaw change, and investor disclosure under Regulation FD. On 2026-06-26, Form 8-K reported charter, bylaw or fiscal-year change. On 2026-09-21, Form 8-K reported investor disclosure under Regulation FD. 3