HP (HPQ): analysis in plain words
Is HP cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
HP (HPQ) is listed on the NYSE and we classify it in hardware and devices. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against HP according to those figures, and the questions people ask most about the stock. No buy or sell tips.
HP (HPQ) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $29.93 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 11.4x | Price over earnings per share |
| Revenue growth | +12.5% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 4.1% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.3x | Years of operating profit to repay debt |
| Dividend yield | 4.24% | Annual dividend over price |
| Market cap | $27.0 billion | What the stock market values it at |
The HP figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any HPQ figure that is not available shows as N/A: we do not estimate it.
How HP makes money
HP Inc. reports two segments: Personal Systems, its biggest, covering laptops, desktops and workstations, and Printing, which sells printers and, more importantly, the ink and toner cartridges customers keep buying. It sells to consumers, businesses and governments across the Americas, Europe and Asia.
Over the last 12 months, HP brought in revenue of $59.2 billion. For every 100 it sells, HP keeps 19.7 after the direct cost of what it sells (gross margin) and 5.4 after all operating costs (operating margin). With 55,000 full-time employees, that is about $1 million of revenue per employee.
HP against its sector
To know whether a HP figure is high or low you have to put it next to similar companies. This table compares HP with the median of the 7 hardware and devices companies Fintols covers, with data as of November 4, 2026.
| Figure | HP | hardware and devices median |
|---|---|---|
| P/E | 11.4x | 31.1x (7) |
| Revenue growth | +12.5% | +27.6% (8) |
| Net margin | 4.1% | 6.6% (8) |
| Dividend yield | 4.24% | 0.47% (8) |
| Net debt / EBITDA | 1.3x | 0.6x (7) |
In short, against the typical hardware and devices company, HP trades on a lower P/E, grows more slowly and earns a thinner margin. By size, HP ranks number 5 of 7 hardware and devices companies quoted in USD on Fintols.
The bull case for HP
These are the strengths in the HP figures as of November 4, 2026:
- On a P/E basis HP trades cheaper than its sector: 11.4x its annual earnings, against 31.1x for the hardware and devices median (7 companies with data).
- HP generates real cash: $3.4 billion of free cash flow over 12 months, 12.6% of its stock market value.
- For income seekers, HP pays a dividend yielding 4.24% at today's price, using 45% of its profit to fund it.
The main risk for HP
The HP figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: demand for devices slowing, because companies and consumers can put off upgrades.
Frequently asked questions about HP
Is it a good time to buy HP stock?
Fintols does not tell you whether to buy or sell HP, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, HP stock trades at $29.93, 17% below its 52-week high ($36.23) and 70% above its low ($17.56). Its P/E is 11.4x against a hardware and devices median of 31.1x, and 9.5x on the earnings analysts expect over the next 12 months. With HP, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does HP pay a dividend?
Yes. As of November 4, 2026, HP pays $1.20 per share a year, which at today's price is a yield of 4.24%. It uses 45% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 3.49%. The hardware and devices median on Fintols is 0.47%.
Is HP stock expensive?
It depends on what you compare it with. On P/E, HP trades at 11.4x its last 12 months of earnings: cheaper than the hardware and devices median (31.1x). Including its debt, HP is valued at 6.8x its EBITDA (EV/EBITDA). A high P/E alone does not make HP expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are HP's competitors?
On Fintols we compare HP with Supermicro, IonQ and Nokia, which are also in hardware and devices. As of November 4, 2026, Supermicro is worth $19.4 billion and trades on a P/E of 6.2; IonQ is worth $12.7 billion; Nokia is worth €41.4 billion and trades on a P/E of 52.9. Each has a side-by-side comparison with HP below.
HP competitors
- Supermicro (SMCI) analysis · HP vs Supermicro comparison
- IonQ (IONQ) analysis · HP vs IonQ comparison
- Nokia (NOKIA.HE) analysis · HP vs Nokia comparison
To understand HP better
- Economic Moats Explained: From Warren Buffett to AI
- Dividend Growth Investing: FCF Payout Ratio and Compounding
More companies like HP: hardware and devices stocks and S&P 500 companies. Open the full HPQ analysis with its valuation and scenarios. Educational content about HP, not investment advice.