HP

HPQ

Computer Hardware · Technology

Price

$24.84

+0.70 (+2.90%)

Market Cap

$22.72B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count falling — buybacks

−21.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.22B (2021) → 953.0M (2025)

HP Inc. makes personal computers and printers. Its main products include laptops, desktops, and inkjet and laser printers sold to everyday consumers, students, and businesses around the world. HP is one of the largest PC makers globally and owns well-known printer brands used in homes and offices everywhere.

The company makes money by selling hardware and, importantly, by selling ink and toner cartridges on a recurring basis — that supplies business is a key profit driver. HP operates worldwide, with significant revenue from the Americas, Europe, and Asia, and generates roughly $50 billion in annual revenue. Its biggest competitive advantage is its large installed base of printers, which keeps customers buying its ink over and over, but its main risk is the long-term decline in printing demand as more people go paperless and PC sales remain tied to slow-moving replacement cycles.

Winston Score History

Politician Trades

8 trades / 12mo

3 Congressional buys and 5 sells on HPQ in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-1.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$1.6B/ year

→ Flat (-2% vs prior year)

2.9% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

0.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$3.2B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

HP is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

19.6%

Thin — 19.6% gross margin

Operating Margin

5.3%

Thin — 5.3% operating margin

ROCE

5.8%

Weak — 5.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+4.4%

Slow sales growth (4.4% YoY)

EPS YoY

-4.3%

Earnings shrinking (-4.3% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

148%

Turns 148% of profit into real cash

FCF Margin

5.1%

Thin free cash flow (5.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

2.85

Heavy debt load (2.85)

Interest Cover

6.38x

Adequate interest coverage (6.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

9.3x

Attractive valuation — P/E 9.3

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

+1.3

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield

4.91%

Healthy income — 4.91% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

+3.7%

Dividend growing modestly (3.7% YoY)

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