Information Technology · Technology Hardware, Storage & Peripherals · US stock · price as of 16 Oct 2026
Key indicators
Price
$30.01
52-week range
$16.91 – $36.23
Market cap
$27.8B
P/E (trailing)
11.4×
EV / EBITDA
7.9×
Free-cash-flow yield
14.0%
Dividend yield
4.0%
Revenue (last 12 months)
$59.2B
Revenue growth (3y a year)
−4.2%
Operating margin
5.4%
Return on invested capital
57.7%
Net debt / EBITDA
1.2×
Fair value
Blended fair value$73.88 range $72 – $76
Versus priceUndervalued+146% to fair value
Peer multiples
$93.40
Fundamentals-adjusted multiple
$78.91
10-year DCF (market-scaled)
$49.32
Earnings power value (floor, not blended)
$31.84
Model uncertainty
Medium
X-Ray Score
53/ 100 · High confidence · ahead of 55% of sector peers
Valuation98
Growth19
Profitability58
Financial health27
Dividends47
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
HP sells personal computers, printers and related supplies to consumers, businesses and public bodies around the world. Its personal systems unit covers laptops, desktops and workstations, while the printing unit sells printers and recurring ink, toner and service revenue. The company makes money through hardware sales through retailers, distributors and direct channels, and through subscription and supply sales that continue after a printer has been bought.
Sales totalled $59.2 billion over the last twelve months, and the three-year record shows a decline of 4.2% a year. The operating margin is 5.4%, and the return on invested capital is 58%. The balance sheet shows net debt to EBITDA of 1.2 times. Shareholders receive a dividend, currently yielding 4.0%. Taken together, these numbers give a factual snapshot of the business.
StocksXray gives Hp Inc an X-Ray Score of 53 out of 100 (high confidence), ahead of 55% of the S&P 500 stocks in its sector. Its strongest lens is valuation (98) and its weakest is growth (19).
Our fair value blend is $73.88 (range $71.79 to $76.12). At $30.01 the stock trades 59% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Hp Inc (HPQ)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$25.12
$23.55
$23.27
$32.48
$26.33
$30.01
Market cap
$30.6B
$24.7B
$23.3B
$32.1B
$25.1B
$27.8B
P/E
4.7×
7.9×
7.1×
11.6×
9.9×
11.4×
EV / revenue
0.5×
0.5×
0.6×
0.7×
0.6×
0.6×
EV / EBITDA
5.4×
6.1×
6.9×
8.3×
7.6×
7.9×
Price / free cash flow
5.3×
6.7×
7.8×
10.2×
9.0×
7.2×
Free-cash-flow yield
19.0%
15.0%
12.8%
9.8%
11.2%
14.0%
Price / book
–
–
–
–
–
–
Dividend yield
3.11%
4.25%
4.51%
3.39%
4.41%
4.00%
Fundamentals checklist ● 4 Good · ● 5 Average · ● 7 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.9%Average
Free-cash-flow yield14.0%Good
Risk models
Altman Z score-0.7×Bad
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)−3.8%Bad
Free-cash-flow growth (3y)−8.9%Bad
Revenue growth (3y)−4.2%Bad
Growth consistency90%Average
Balance sheet
Current ratio0.8×Bad
Net debt / EBITDA1.2×Average
Interest cover8.2×Bad
Valuation
Fair value vs price2.5×Good
EBIT / EV yield9.8%Good
Profitability
Return on invested capital57.7%Good
Operating margin5.4%Bad
Gross profitability25.7%Average
Red flags
Negative equity — Book equity is negative
XStocksXray
Hp Inc (HPQ)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
63,460
62,910
53,718
53,559
55,295
59,162
Gross profit
13,407
12,263
11,508
11,818
11,392
11,758
Operating income
5,359
4,559
3,456
3,818
3,174
3,222
Net income
6,541
3,132
3,263
2,775
2,529
2,451
Diluted EPS ($)
5.36
2.98
3.26
2.81
2.65
2.62
Free cash flow
5,827
3,698
2,978
3,157
2,800
3,881
Gross margin
21.1%
19.5%
21.4%
22.1%
20.6%
19.9%
Operating margin
8.4%
7.2%
6.4%
7.1%
5.7%
5.4%
Net margin
10.3%
5.0%
6.1%
5.2%
4.6%
4.1%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
38,605
38,494
37,004
39,909
41,769
45,701
Cash
4,299
3,145
3,107
3,238
3,690
4,169
Total debt
7,058
10,961
9,433
9,621
9,609
9,160
Equity
-1,644
-3,025
-1,069
-1,323
-346
-92
Dividend per share ($)
0.78
1.00
1.05
1.10
1.16
–
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
Apr 2025
Jul 2025
Oct 2025
Jan 2026
Apr 2026
Jul 2026
Revenue ($M)
13,220
13,932
14,639
14,438
14,408
15,677
Growth vs a year earlier
+3.3%
+3.1%
+4.2%
+6.9%
+9.0%
+12.5%
Net income ($M)
406
763
795
545
450
661
Diluted EPS ($)
0.42
0.80
–
0.58
0.49
0.71
XStocksXray
Hp Inc (HPQ)
Peers in Technology Hardware, Storage & Peripherals
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.