Explain this page
Arphra AIPlain-English read on HP Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +21.13% | +19.49% | +21.42% | +22.07% | +19.98% | +21.34% | +21.68% | +20.91% | +20.54% |
| Operating margin | +8.44% | +7.25% | +6.43% | +7.13% | +6.55% | +6.62% | +6.53% | +6.51% | +6.72% |
| EBITDA margin | +13.56% | +8.68% | +8.32% | +8.81% | +7.40% | +8.23% | +8.24% | +8.34% | +8.28% |
| EBIT margin | +12.33% | +7.44% | +6.74% | +7.26% | +5.74% | +6.57% | +6.73% | +6.45% | +6.68% |
| Pre-tax margin | +11.93% | +6.87% | +5.47% | +6.12% | +4.83% | +5.62% | +5.55% | +5.54% | +5.31% |
| Net margin | +10.31% | +4.98% | +6.07% | +5.18% | +4.57% | +5.18% | +5.20% | +5.21% | +5.41% |
| Cost structure | |||||||||
| Cost of revenue / sales | +78.87% | +80.51% | +78.58% | +77.93% | +80.02% | +81.19% | +77.61% | +79.48% | +78.10% |
| R&D intensity | +2.91% | +2.63% | +2.94% | +3.06% | +2.90% | +2.95% | +2.99% | +3.05% | +2.99% |
| SG&A intensity | +9.02% | +8.37% | +9.97% | +10.56% | +10.53% | +10.30% | +10.31% | +10.27% | +10.64% |
| Effective tax rate | +13.57% | +27.57% | -11.10% | +15.37% | +5.21% | +10.07% | +10.13% | +10.04% | +10.49% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | -397.87% | -103.54% | -305.24% | -209.75% | -730.92% | -308.79% | -301.67% | -304.95% | -312.95% |
| Return on assets (ROA) | +16.94% | +8.14% | +8.82% | +6.95% | +6.05% | +7.15% | +6.93% | +7.07% | +7.57% |
| Return on capital (ROC) | +75.12% | +49.19% | +35.74% | +39.87% | +34.40% | +37.29% | +36.53% | +35.92% | +36.52% |
| Return on invested capital (ROIC) | +91.69% | +33.79% | +33.74% | +28.98% | +24.00% | +29.15% | +29.12% | +28.74% | +29.39% |
| Asset turnover | +164.38% | +163.43% | +145.17% | +134.20% | +132.38% | +138.05% | +133.22% | +135.68% | +139.99% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +10.31% | +4.98% | +6.07% | +5.18% | +4.57% | +5.18% | +5.20% | +5.21% | +5.41% |
| Asset turnover (× revenue / assets) | +164.38% | +163.43% | +145.17% | +134.20% | +132.38% | +138.05% | +133.22% | +135.68% | +139.99% |
| Equity multiplier (× assets / equity) | -2348.24% | -1272.53% | -3461.55% | -3016.55% | -12071.97% | -4320.93% | -4354.59% | -4316.38% | -4132.69% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 1.64 | 1.63 | 1.45 | 1.34 | 1.32 | 1.38 | 1.33 | 1.36 | 1.40 |
| Fixed-asset turnover | 16.98 | 15.69 | 13.38 | 13.13 | 13.23 | — | — | — | — |
| Inventory turnover | 6.31 | 6.65 | 6.15 | 5.41 | 5.20 | — | — | — | — |
| Receivables turnover | 7.15 | 9.13 | 8.34 | 6.43 | 6.39 | — | — | — | — |
| Payables turnover | 3.11 | 3.31 | 3.01 | 2.47 | 2.45 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 51.04 | 39.98 | 43.74 | 56.73 | 57.16 | — | — | — | — |
| Days inventory outstanding (DIO) | 57.83 | 54.87 | 59.34 | 67.51 | 70.22 | — | — | — | — |
| Days payables outstanding (DPO) | 117.22 | 110.28 | 121.46 | 147.81 | 148.90 | — | — | — | — |
| Cash conversion cycle | -8.36 | -15.43 | -18.38 | -23.57 | -21.53 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.98 | 1.42 | 1.09 | 1.35 | 1.46 | 1.32 | 1.32 | 1.31 | 1.28 |
| FCF / Net income | 0.89 | 1.17 | 0.91 | 1.14 | 1.11 | 1.08 | 1.06 | 1.04 | 1.00 |
| FCF margin | +9.18% | +5.84% | +5.51% | +5.89% | +5.06% | +5.61% | +5.53% | +5.43% | +5.42% |
| OCF margin | +10.10% | +7.09% | +6.65% | +7.00% | +6.69% | +6.82% | +6.87% | +6.85% | +6.91% |
| CapEx / Revenue | +0.92% | +1.26% | +1.13% | +1.11% | +1.62% | +1.29% | +1.28% | +1.31% | +1.28% |
| CapEx / D&A | 0.74 | 1.01 | 0.72 | 0.71 | 0.98 | — | — | — | — |
| Stock-based comp / Revenue | +0.52% | +0.55% | +0.82% | +0.84% | +0.94% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 5.36 | 2.98 | 3.26 | 2.81 | 2.65 | 3.01 | 3.00 | 3.28 | 3.74 |
| EPS · basic | 5.41 | 3.02 | 3.29 | 2.83 | 2.67 | 3.04 | 3.00 | 3.35 | 3.75 |
| Book value / share | -1.35 | -2.88 | -1.07 | -1.34 | -0.36 | -1.02 | -1.05 | -1.04 | -1.10 |
| Tangible BV / share | -7.57 | -12.86 | -11.25 | -11.39 | -10.56 | -1.02 | -1.05 | -1.04 | -1.10 |
| Sales / share | 52.02 | 59.91 | 53.72 | 54.15 | 58.02 | 60.72 | 60.91 | 61.13 | 63.74 |
| Operating CF / share | 5.25 | 4.25 | 3.57 | 3.79 | 3.88 | 4.14 | 4.19 | 4.18 | 4.40 |
| Free cash flow / share | 4.78 | 3.50 | 2.96 | 3.19 | 2.94 | 3.41 | 3.37 | 3.32 | 3.45 |
| Dividends / share | 0.77 | 0.99 | 1.04 | 1.09 | 1.14 | 1.19 | 1.22 | 1.23 | 1.25 |
| Payout ratio | +14.34% | +33.11% | +31.78% | +38.74% | +43.02% | +37.79% | +38.43% | +38.71% | +36.21% |
| Retention ratio | +85.66% | +66.89% | +68.22% | +61.26% | +56.98% | +62.21% | +61.57% | +61.29% | +63.79% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | -0.87% | -14.61% | -0.30% | +3.24% | +4.09% | -0.11% | +0.38% | +5.25% | -0.54% |
| Gross profit · YoY | — | -8.53% | -6.16% | +2.69% | -6.52% | +11.21% | +1.45% | -3.19% | +3.39% | -0.90% |
| Profit | ||||||||||
| Operating income · YoY | — | -14.93% | -24.19% | +10.47% | -5.08% | +5.18% | -1.58% | +0.10% | +8.74% | -3.34% |
| EBITDA · YoY | — | -36.53% | -18.16% | +5.48% | -13.27% | +15.88% | -0.09% | +1.64% | +4.46% | -6.50% |
| Net income · YoY | — | -52.12% | +4.18% | -14.96% | -8.86% | +17.82% | +0.34% | +0.52% | +9.34% | -8.25% |
| Operating | ||||||||||
| EBIT · YoY | — | -40.13% | -22.68% | +7.32% | -18.32% | +19.22% | +2.23% | -3.85% | +9.02% | -7.88% |
| R&D · YoY | — | -10.55% | -4.54% | +3.93% | -2.32% | +6.16% | +0.98% | +2.52% | +3.04% | -0.23% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -44.40% | +9.40% | -13.80% | -5.69% | +13.52% | -0.12% | +9.11% | +14.07% | -4.40% |
| EPS · basic · YoY | — | -44.18% | +8.94% | -13.98% | -5.65% | +13.99% | -1.51% | +11.65% | +11.98% | -4.49% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $8.78B | $12.29B | $10.74B | $10.9B | $10.88B | $11.19B | $11.26B | $11.44B | $12.23B |
| Net debt | $4.48B | $9.15B | $7.63B | $7.66B | $7.19B | $7.69B | $7.7B | $7.82B | $8.55B |
| Net debt / EBITDA | 0.52 | 1.67 | 1.71 | 1.62 | 1.76 | 1.62 | 1.63 | 1.62 | 1.70 |
| Debt / equity | -5.34 | -4.06 | -10.05 | -8.24 | -31.45 | -11.59 | -11.36 | -11.61 | -11.65 |
| Debt / assets | +22.74% | +31.94% | +29.02% | +27.31% | +26.05% | +26.83% | +26.09% | +26.90% | +28.19% |
| Equity / assets | -4.26% | -7.86% | -2.89% | -3.32% | -0.83% | -2.31% | -2.30% | -2.32% | -2.42% |
| Coverage | |||||||||
| EBITDA / interest expense | 33.89 | 15.22 | 6.54 | 7.77 | 8.08 | 7.26 | 7.24 | 7.59 | 7.27 |
| Operating income / interest | 21.10 | 12.70 | 5.05 | 6.29 | 7.16 | 5.84 | 5.74 | 5.92 | 5.90 |
| Interest expense | $254M | $359M | $684M | $607M | $506M | $653.03M | $653.84M | $634M | $691.59M |
| Liquidity | |||||||||
| Current ratio | 0.76 | 0.75 | 0.73 | 0.72 | 0.77 | — | — | — | — |
| Quick ratio | 0.45 | 0.38 | 0.39 | 0.40 | 0.42 | — | — | — | — |
| Cash ratio | 0.15 | 0.12 | 0.13 | 0.11 | 0.13 | — | — | — | — |
| Working capital | -$6.93B | -$6.45B | -$6.51B | -$7.93B | -$6.81B | — | — | — | — |
| Working capital / revenue | -10.92% | -10.26% | -12.12% | -14.80% | -12.31% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).