HP INC
HPQ · Computer & office Equipment · 914.5M shares · -10%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$338M (gross $100M, SBC $438M)
Reference price $24.68 · est. market cap ~$22.6B — last insider sale, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Mature PC/print cash generator that's profitable, but with buyback-driven negative equity, thin liquidity, and low-margin, low-growth markets.
Strengths
- Profitable with decent asset returns — operating margin 5.7%, net margin 4.6%, ROA 6.1% (67th)
- Some revenue growth — +3.2% (36th)
Risks
- Negative equity and weak liquidity — ROE -730.9% and D/E -27.94 from sustained buybacks; current ratio 0.77 (7th), quick ratio 0.48 (5th)
- Low margins — gross margin 20.6% (10th); commoditized PC/print hardware
- Soft cash conversion this year — OCF margin 6.7% (27th); earnings -8.9%
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Negative equityNegative book equity (debt/equity -27.94)
- Weak liquidityCurrent ratio 0.77 (<1)
- Buying back stockNet buyback — share count -10%/yr over 4y
- Strong balance sheetStrong balance sheet — $3.7B cash & investments
- Insider sellingInsider selling — 2 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$1M, last 6mo) Form 4 ↗
- Notable holderHeld by 7 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, RENAISSANCE TECHNOLOGIES LLC +4 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
20.6%
Operating margin
5.7%
Net margin
4.6%
Return on equity
-730.9%
Return on assets
6.1%
ROIC
26.9%
Revenue growth (QoQ)
-0.2%
Net-income growth
-8.9%
Debt / equity
-27.9×
Net debt / EBITDA
1.5×
Current ratio
0.8×
EBITDA
$4.1B
Tangible book value
-$10.1B
Cash & investments
$3.7B
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | McQuarrie David P. | Sell | 11K | $24.68 |
| 2026-04-16 | Pettiti Gianluca | Grant | 12K | — |
| 2026-04-16 | Francisco Ma. Fatima | Grant | 12K | — |
| 2026-04-16 | Miscik Judith A | Grant | 12K | — |
| 2026-04-01 | Bergh Charles V | Option exercise | 9.9K | — |
| 2026-03-25 | Bergh Charles V | Option exercise | 49K | $11.45 |
| 2026-03-11 | Citrino Mary Anne | Option exercise | 73K | $11.45 |
| 2026-03-11 | Citrino Mary Anne | Sell | 45K | $18.47 |
| 2026-02-03 | Patel Ketan M | Tax withheld | 447 | $19.00 |
| 2026-02-03 | Patel Ketan M | Option exercise | 1.1K | — |
| 2025-12-26 | Patel Ketan M | Sell | 33K | $23.19 |
| 2025-12-10 | Francisco Ma. Fatima | Gift | 14K | — |
| 2025-12-10 | Francisco Ma. Fatima | Gift | 14K | — |
| 2025-12-09 | Olson Anneliese | Sell | 17K | $24.83 |
| 2025-12-07 | Jacobs Julie M | Option exercise | 52K | — |
| 2025-12-07 | Patel Ketan M | Option exercise | 42K | — |
| 2025-12-07 | Patel Ketan M | Tax withheld | 21K | $25.91 |
| 2025-12-07 | Olson Anneliese | Option exercise | 31K | — |
| 2025-12-07 | Olson Anneliese | Tax withheld | 14K | $25.91 |
| 2025-12-07 | McQuarrie David P. | Option exercise | 58K | — |
| 2025-12-07 | McQuarrie David P. | Tax withheld | 29K | $25.91 |
| 2025-12-07 | Jacobs Julie M | Tax withheld | 23K | $25.91 |
| 2025-12-07 | LORES ENRIQUE | Option exercise | 189K | — |
| 2025-12-07 | LORES ENRIQUE | Tax withheld | 90K | $25.91 |
| 2025-12-07 | PARKHILL KAREN L | Option exercise | 29K | — |
| 2025-12-07 | PARKHILL KAREN L | Tax withheld | 13K | $25.91 |
| 2025-12-05 | LORES ENRIQUE | Sell | 42K | $26.00 |
| 2025-11-29 | Patel Ketan M | Option exercise | 3.9K | — |
| 2025-11-29 | Patel Ketan M | Tax withheld | 1.3K | $24.42 |
| 2025-11-18 | McQuarrie David P. | Tax withheld | 13K | $22.71 |
| 2025-11-18 | McQuarrie David P. | Option exercise | 30K | — |
| 2025-11-18 | LORES ENRIQUE | Option exercise | 160K | — |
| 2025-11-18 | LORES ENRIQUE | Tax withheld | 76K | $22.71 |
| 2025-11-18 | Jacobs Julie M | Option exercise | 28K | — |
| 2025-11-18 | Jacobs Julie M | Tax withheld | 13K | $22.71 |
| 2025-11-01 | McQuarrie David P. | Option exercise | 20K | — |
| 2025-11-01 | McQuarrie David P. | Tax withheld | 6.9K | $27.67 |
| 2025-10-29 | Olson Anneliese | Sell | 18K | $27.88 |
| 2025-10-27 | Olson Anneliese | Tax withheld | 9.6K | $27.92 |
| 2025-10-27 | Olson Anneliese | Option exercise | 28K | — |
| 2025-10-03 | Jacobs Julie M | Option exercise | 129K | — |
| 2025-10-03 | Jacobs Julie M | Tax withheld | 53K | $26.64 |
| 2025-09-29 | LORES ENRIQUE | Sell | 34K | $26.85 |
| 2025-09-04 | Francisco Ma. Fatima | Gift | 9.6K | — |
| 2025-09-04 | Francisco Ma. Fatima | Gift | 9.6K | — |
| 2025-09-03 | Francisco Ma. Fatima | Gift | 9.6K | — |
| 2025-09-03 | Francisco Ma. Fatima | Gift | 9.6K | — |
| 2025-08-05 | PARKHILL KAREN L | Tax withheld | 72K | $25.05 |
| 2025-08-05 | PARKHILL KAREN L | Option exercise | 159K | — |
| 2025-06-04 | Francisco Ma. Fatima | Gift | 4.3K | — |
| 2025-06-04 | Francisco Ma. Fatima | Gift | 4.3K | — |
| 2025-04-14 | BROUSSARD BRUCE D | Grant | 4.8K | $24.04 |
| 2025-04-14 | Pettiti Gianluca | Grant | 9.6K | — |
| 2025-04-14 | Miscik Judith A | Grant | 9.6K | — |
| 2025-04-14 | BROUSSARD BRUCE D | Grant | 9.6K | — |
| 2025-04-14 | Francisco Ma. Fatima | Grant | 9.6K | — |
| 2025-04-01 | Bergh Charles V | Option exercise | 8.9K | — |
| 2025-03-27 | Olson Anneliese | Sell | 22K | $28.49 |
| 2025-03-24 | Liebman Stephanie | Sell | 16K | $29.00 |
| 2025-03-03 | LORES ENRIQUE | Sell | 55K | $31.08 |
| 2025-02-28 | Liebman Stephanie | Tax withheld | 2.7K | $30.87 |
| 2025-02-28 | Liebman Stephanie | Option exercise | 12K | — |
| 2025-02-21 | Pettiti Gianluca | Grant | 140 | — |
| 2025-02-06 | Yoon Songyee | Grant | 426 | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (3)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-26 | 5.03Exhibits | filing ↗ |
| 2026-05-27 | ResultsExhibits | filing ↗ |
| 2026-04-21 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-02-24 | ResultsExhibits | filing ↗ |
| 2026-02-03 | ResultsExec/director change5.03Reg FDExhibits | filing ↗ |
| 2025-12-29 | Exec/director change | filing ↗ |
| 2025-11-25 | Results2.05Reg FDExhibits | filing ↗ |
| 2025-10-01 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-26 | 2026-06-24 | 0000047217-26-000041 ↗ |
| 10-Q | 2026-05-28 | 2026-04-30 | 0000047217-26-000029 ↗ |
| 8-K | 2026-05-27 | 2026-05-27 | 0000047217-26-000027 ↗ |
| 8-K | 2026-04-21 | 2026-04-16 | 0000047217-26-000019 ↗ |
| 10-Q | 2026-02-25 | 2026-01-31 | 0000047217-26-000011 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0000047217-26-000009 ↗ |
| 8-K | 2026-02-03 | 2026-02-02 | 0001140361-26-003514 ↗ |
| 8-K/A | 2025-12-29 | 2025-09-29 | 0001140361-25-046753 ↗ |
| 10-K | 2025-12-10 | 2025-10-31 | 0000047217-25-000071 ↗ |
| 8-K | 2025-11-25 | 2025-11-25 | 0000047217-25-000068 ↗ |
| 8-K | 2025-10-01 | 2025-09-29 | 0001140361-25-036906 ↗ |
| 10-Q | 2025-08-28 | 2025-07-31 | 0000047217-25-000063 ↗ |