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HP

HPQ
36
Computer Hardware · Technology
Price
$29.71
+0.24 (+0.81%)
Market Cap
$27.17B
Winston Score
36
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Apr 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Strong
Stability
Mixed
Valuation
Strong
Dividends
Strong
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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)

Winston Score History

The full picture

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.

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Growth Profile

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

Revenue Growth

+9.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+14.0% YoY

YoY Growth Rate

Steady EPS growth

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

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$3.7B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

HP is growing revenue at 9% 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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
20.9%
Thin — 20.9% gross margin
Profit after running costs
Operating Margin
4.2%
Thin — 4.2% operating margin
Return on the money invested
ROCE
7.0%
Weak — 7.0% 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 growth
Sales YoY
+5.7%
Slow sales growth (+5.7% YoY)
Profit growth
EPS YoY
+5.0%
Modest earnings growth (+5.0% YoY)

Single-digit earnings growth — steady but not exciting.

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
180%
Turns 180% of profit into real cash
Spare cash per sale
FCF Margin
6.6%
Modest free cash flow (6.6%)

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

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Stability

What it owes vs what it owns
Debt / Equity
N/A
—
Data not available
Covers its interest
Interest Cover
6.97x
Adequate interest coverage (7.0x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
10.8x
Attractive valuation — P/E 10.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+1.2
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
4.06%
Healthy income — 4.06% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+3.7%
Dividend growing modestly (3.7% YoY)

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