Company file · HPQ

HP

HP's revenue rose 3.2% in FY2025, to $55.3B, and net income fell 8.9% to $2.5B

Revenue rose 3.2% to $55.3B in FY2025, from $53.6B in FY2024. Net income fell 8.9% to $2.5B. Personal Systems was the largest segment, at 70% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Dec 10, 2025) · Latest quarter: 10-Q for the quarter ended Jul 31, 2026 (filed Aug 27, 2026) · Data pulled Nov 11, 2026

Key facts

HP (NYSE: HPQ) closed fiscal 2025 on Oct 31, 2025 with revenue of $55.3B, up 3.2% from a year before; net income came to $2.5B, down 8.9%. Its newest quarterly report covers the three months to Jul 31, 2026: revenue of $15.7B, up 12.5% on the same stretch of the prior year, and net income of $661M. Broken down by segment, Personal Systems led with 70% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Dec 10, 2025) and 10-Q for the quarter ended Jul 31, 2026 (filed Aug 27, 2026).

Revenue$55.3BFY2025 · +3.2% vs FY2024

Net income$2.5BFY2025 · −8.9% vs FY2024

Operating cash flow$3.7BFY2025 · −1.4% vs FY2024

Cash & equivalents$4.2Bat Jul 31, 2026 · +13.0% vs FY2025 end

Total debt$9.2Bat Jul 31, 2026 · −5.2% vs FY2025 end

Diluted shares953MFY2025 avg · −3.6% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Dec 10, 2025

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed Feb 25, 2026 · 10-Q filed May 28, 2026 · 10-Q filed Aug 27, 2026

How it makes money

By segment, FY2025

LineAmountSharevs FY2024
Personal Systems$38.5B70%+6.5%
Printing$16.7B30%−3.7%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: Personal Systems (70%) and Printing (30%), as shares of total revenue. Total revenue was $55.3B.

By segment: three-year mixShare of the total each fiscal year

FY2023

66%34%

FY2024

68%32%

FY2025

70%30%

Personal SystemsPrinting

Source: 10-K FY2025

By product or service, FY2025

Products$52.0B94%+3.1%

Services$3.3B6%+6.0%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 FY2026 (May to Jul 2026) compared with Q3 FY2025 (May to Jul 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 FY2026Q3 FY2025

Company

Revenue

$15.7B Q3 FY2026

$13.9B Q3 FY2025

12.5% increase

Net income

$661M Q3 FY2026

$763M Q3 FY2025

13.4% decrease

Source: HP 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026

By segment

Personal Systems

$11.8B Q3 FY2026

$9.9B Q3 FY2025

18.5% increase

Printing

$3.9B Q3 FY2026

$4.0B Q3 FY2025

2.2% decrease

Source: HP 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026

Cash & equivalents $4.2B at Jul 31, 2026, vs $3.7B at FY2025 end.
Total debt $9.2B at Jul 31, 2026, vs $9.7B at FY2025 end.
Operating cash flow, first 9 months of fiscal 2026: $3.0B vs $2.1B a year earlier.

The bull case and the bear case

The bull case

Revenue rose 3.2% in FY2025 to $55.3B, from $53.6B a year earlier. 10-K, FY2025
Diluted shares fell 3.6% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
Revenue in the quarter ended Jul 31, 2026 was $15.7B, up 12.5% on a year earlier. 10-Q, quarter ended Jul 31, 2026
Personal Systems revenue grew 6.5% in FY2025 to $38.5B. 10-K, FY2025

The bear case

Net income fell 8.9% in FY2025 to $2.5B, from $2.8B. 10-K, FY2025
Operating cash flow fell 1.4% in FY2025 to $3.7B. 10-K, FY2025
Net income in the quarter ended Jul 31, 2026 was $661M, down 13.4% on a year earlier. 10-Q, quarter ended Jul 31, 2026
Printing revenue fell 3.7% in FY2025 to $16.7B. 10-K, FY2025

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

HP is in the technology hardware, storage & peripherals industry, part of the information technology sector. The SEC files it under Computer & Office Equipment.

HP reports 2 segments: Personal Systems and Printing.

Its fiscal year ends in October; the latest, FY2025, ended Oct 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the technology hardware, storage & peripherals industry. They are not a summary of HP’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

CompetitionTechnology markets move fast, and rivals large and small can change prices or products.
Customer demandSpending by customers on technology rises and falls with their budgets and the economy.
Security and privacyCyberattacks, outages and data-privacy rules can raise costs or harm customer trust.
Supply and tradeReliance on suppliers and exposure to tariffs or export rules can limit what it can sell or build.
Intellectual propertyPatent claims and licensing disputes can lead to costs or limits on products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$53.7B	$53.6B	$55.3B
Net income	$3.3B	$2.8B	$2.5B
Operating cash flow	$3.6B	$3.7B	$3.7B
Cash & equivalents (year end)	$3.1B	$3.2B	$3.7B
Total debt (year end)	$9.5B	$9.7B	$9.7B
Diluted shares	1.00B	989M	953M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: Debt due within one year plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

Recent filings

Form	Filed	Period
10-Q	Aug 27, 2026	Jul 31, 2026
10-Q	May 28, 2026	Apr 30, 2026
DEF 14A	Feb 25, 2026	Apr 16, 2026
10-Q	Feb 25, 2026	Jan 31, 2026
10-K	Dec 10, 2025	Oct 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about HP

How does HP make money?

Fiscal 2025 revenue: $55.3B. By segment in FY2025: Personal Systems (70%) and Printing (30%), as shares of total revenue. Total revenue was $55.3B. Source: 10-K for fiscal 2025, filed Dec 10, 2025.

What was HP's revenue in fiscal 2025?

$55.3B, up 3.2% from fiscal 2024 ($53.6B). The year ended Oct 31, 2025; for fiscal 2023 the figure was $53.7B. Source: 10-K for fiscal 2025, filed Dec 10, 2025.

Is HP profitable?

Net income was $2.5B in fiscal 2025 (down 8.9%; fiscal 2024 was $2.8B). That counts as a GAAP profit. The latest quarter, ended Jul 31, 2026: net income was $661M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Dec 10, 2025.

What did HP report in its latest quarterly filing?

For the three months to Jul 31, 2026: revenue $15.7B (up 12.5% from $13.9B) and net income $661M (down 13.4% from $763M). Source: 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026.

How much cash and debt does HP have?

As of Jul 31, 2026: $4.2B of cash and cash equivalents, $9.2B of total debt. Total debt here is debt due within one year plus long-term debt, at carrying value. Source: 10-Q filed Aug 27, 2026.

What are the main risks HP faces?

HP's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Dec 10, 2025. Risks that are common among companies in the technology hardware, storage & peripherals industry include Competition; customer demand; security and privacy; supply and trade; intellectual property. The first: Technology markets move fast, and rivals large and small can change prices or products. Source: 10-K, Item 1A Risk Factors.

Where do these HP numbers come from?

The 10-K filed Dec 10, 2025 (fiscal 2025) and the 10-Q filed Aug 27, 2026 (quarter ended Jul 31, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning HP

Two Sigma Investments: 6,303,159 shares, reported value $138.3M at Jun 30, 2026 (+201.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Renaissance Technologies: 4,700,900 shares, reported value $103.1M at Jun 30, 2026 (−36.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
Millennium Management: 2,194,826 shares, reported value $48.2M at Jun 30, 2026 (−58.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Citadel Advisors: 1,398,495 shares, reported value $30.7M at Jun 30, 2026 (−47.0% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Bridgewater Associates: 164,316 shares, reported value $3.6M at Jun 30, 2026 (−60.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
ARK Investment Management: 113,869 shares, reported value $2.5M at Jun 30, 2026 (−7.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in HPQ: The editor holds no position in HP (HPQ). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell HPQ from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 9, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold HPQ, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
HPHPQ	FY2025	$55.3B	+3.2%	$2.5B
AppleAAPL	FY2026	$478.8B	+15.1%	$132.2B
Dell	FY2026	$113.5B	+18.8%	$5.9B
SandiskSNDK	FY2026	$20.2B	+175.3%	$11.4B
Seagate TechnologySTX	FY2026	$12.2B	+34.1%	$3.2B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.