Short answer
HP Inc. (HPQ) filed its fiscal 2025 10-K annual report with the SEC on Dec 10, 2025. It reported revenue of $55.3B (+3.2% year over year) and net income of $2.5B.
- Top risk flagged: Foreign earnings repatriation risk: potential state income or foreign withholding tax on U.S. repatriations despite no federal tax
FY2025 key financial metrics · XBRL
- Revenue
- $55.3B
- +3.2% YoY
- Net income
- $2.5B
- −8.9% YoY
- Operating margin
- 5.7%
- −1.4 pp YoY
- Gross margin
- 20.6%
- −1.5 pp YoY
- EPS (diluted)
- $2.65
- −5.7% YoY
- ROE
- -730.9%
- −521.2 pp YoY
- Operating cash flow
- $3.7B
- −1.4% YoY
Source: XBRL data from the HP Inc. (HPQ) FY2025 10-K on SEC EDGAR. USD.
HP Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: global technology leader in personal computing, printing, 3D printing, hybrid work, gaming, and related tech products and services
- New AI-focused products: launched AI PCs and workstations with local AI processing; integrated AI deep-learning in security and intelligent print features
- Strategic emphasis: accelerated AI incorporation across portfolio; enhanced security layers using AI; focus on sustainable, security-enhanced solutions
- Employee count stable at approximately 55,000 worldwide with expanded talent development, inclusion, and pay equity programs
- Patent portfolio exceeds 16,000 worldwide patents as of Oct 31, 2025, supporting innovation and competitive differentiation
Management Discussion & Analysis
- Revenue not explicitly stated; discussion highlights macroeconomic and competitive challenges impacting demand
- Printing segment faces foreign currency headwinds and non-original supply competition; Personal Systems sees rising commodity costs, especially memory/storage
- No profit margin or operating margin figures disclosed; reference to supply chain cost pressures and tariff impacts suggests margin pressure
- Capital allocation details (buybacks, dividends, capex) excluded from provided text
- Management anticipates ongoing macroeconomic uncertainty, tariff effects, cost inflation, and supply constraints as key near-term risks impacting results
Risk Factors
- Foreign earnings repatriation risk: potential state income or foreign withholding tax on U.S. repatriations despite no federal tax
- Supply chain inventory buildup: days of supply in inventory increased to 66 days in FY25 due to Windows PC refresh demand and tariff mitigation
- Debt maturity concentration: reclassification of Global Notes due June 2026 to short-term raising near-term repayment pressure
- Competitive pressure from Windows-based PCs driving increased Personal Systems volume, affecting inventory and working capital needs
- Share repurchases slowed to $0.8B in FY25 from higher prior levels, impacting capital return strategy and shareholder value management
Generated from the filing text; verify against the original. How to read a 10-K
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