Cash flow HP Inc.

Equities

HPQ

US40434L1052

Computer Hardware

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33.51 ^USD	+1.24%		-1.36%	+10.87%

09-09	Transcript : HP Inc. Presents at Goldman Sachs Communacopia + Technology Conference 2024, Sep-09-2024 10:50 AM
09-05	Loop Capital Adjusts HP's Price Target to $35 From $37	MT

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Published financial data: HP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: October	2019	2020	2021	2022	2023
Revenues	58.76B	56.64B	63.49B	62.98B	53.72B
Finance Div. Revenues	-	-	-	-	-
Total Revenues	58.76B	56.64B	63.49B	62.98B	53.72B
Cost of Goods Sold, Total	47.59B	46.2B	50.07B	50.65B	42.21B
Interest Expense - Finance Division	-	-	-	-	-
Gross Profit	11.17B	10.44B	13.42B	12.34B	11.51B
Selling General & Admin Expenses, Total	5.28B	4.88B	5.54B	5.26B	5.36B
R&D Expenses	1.5B	1.48B	1.91B	1.59B	1.58B
Amortization of Goodwill and Intangible Assets - (IS)	116M	113M	154M	228M	350M
Other Operating Expenses, Total	6.9B	6.47B	7.61B	7.08B	7.28B
Operating Income	4.27B	3.96B	5.81B	5.25B	4.22B
Interest Expense, Total	-242M	-239M	-254M	-359M	-548M
Interest And Investment Income	80M	40M	31M	46M	67M
Net Interest Expenses	-162M	-199M	-223M	-313M	-481M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	-119M	40M	-65M	41M	-65M
Other Non Operating Income (Expenses)	-1.15B	-13M	13M	37M	58M
EBT, Excl. Unusual Items	2.84B	3.79B	5.54B	5.02B	3.74B
Restructuring Charges	-253M	-401M	-223M	-231M	-583M
Merger & Related Restructuring Charges	-35M	-16M	-68M	-318M	-240M
Asset Writedown	-	-	-	-	-
Legal Settlements	-	-	2.3B	-	-
Other Unusual Items	-28M	-145M	-38M	-25M	24M
EBT, Incl. Unusual Items	2.52B	3.23B	7.51B	4.44B	2.94B
Income Tax Expense	-629M	387M	1.01B	1.24B	-326M
Earnings From Continuing Operations	3.15B	2.84B	6.5B	3.2B	3.26B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	3.15B	2.84B	6.5B	3.2B	3.26B
Net Income - (IS)	3.15B	2.84B	6.5B	3.2B	3.26B
Net Income to Common Incl Extra Items	3.15B	2.84B	6.5B	3.2B	3.26B
Net Income to Common Excl. Extra Items	3.15B	2.84B	6.5B	3.2B	3.26B
Per Share Items
Net EPS - Basic	2.08	2.01	5.38	3.09	3.29
Basic EPS - Continuing Operations	2.08	2.01	5.38	3.09	3.29
Basic Weighted Average Shares Outstanding	1.52B	1.41B	1.21B	1.04B	992M
Net EPS - Diluted	2.07	2	5.33	3.05	3.26
Diluted EPS - Continuing Operations	2.07	2	5.33	3.05	3.26
Diluted Weighted Average Shares Outstanding	1.52B	1.42B	1.22B	1.05B	1B
Normalized Basic EPS	1.17	1.68	2.86	3.02	2.35
Normalized Diluted EPS	1.16	1.67	2.84	2.99	2.34
Dividend Per Share	0.64	0.7	0.78	1	1.05
Payout Ratio	30.77	35.06	14.42	32.38	31.78
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	5.02B	4.75B	6.6B	6.03B	5.07B
EBITA	4.39B	4.08B	5.96B	5.48B	4.57B
EBIT	4.27B	3.96B	5.81B	5.25B	4.22B
EBITDAR	5.22B	5.1B	6.93B	6.36B	5.41B
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	-24.93	11.98	13.42	27.88	-11.1
Current Domestic Taxes	-1.15B	-1M	1.2B	327M	268M
Current Foreign Taxes	386M	319M	420M	341M	337M
Total Current Taxes	-761M	318M	1.62B	668M	605M
Deferred Domestic Taxes	135M	-95M	-410M	70M	-626M
Deferred Foreign Taxes	-3M	164M	-197M	500M	-305M
Total Deferred Taxes	132M	69M	-607M	570M	-931M
Normalized Net Income	1.77B	2.37B	3.46B	3.13B	2.34B
Non-Cash Pension Expense	-35M	9M	-154M	-117M	79M
Supplemental Operating Expense Items
Advertising Expense	652M	578M	829M	696M	611M
Research And Development Expense From Footnotes	1.5B	1.48B	1.91B	1.59B	1.58B
Net Rental Expense, Total	200M	344M	336M	332M	336M
Imputed Operating Lease Interest Expense	69.47M	105M	84.28M	90.06M	127M
Imputed Operating Lease Depreciation	131M	239M	252M	242M	209M
Stock-Based Comp., Other (Total)	297M	278M	330M	343M	438M
Total Stock-Based Compensation	297M	278M	330M	343M	438M

Fiscal Period: October	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	4.54B	4.86B	4.3B	3.14B	3.23B
Short Term Investments	-	274M	5M	-	-
Trading Asset Securities, Total	-	4M	-	-	-
Total Cash And Short Term Investments	4.54B	5.14B	4.3B	3.14B	3.23B
Accounts Receivable, Total	6.03B	5.38B	5.51B	4.55B	4.24B
Other Receivables	2.91B	3.06B	3.34B	2.34B	2.2B
Total Receivables	8.94B	8.44B	8.85B	6.89B	6.44B
Inventory	5.73B	5.96B	7.93B	7.6B	6.86B
Prepaid Expenses	643M	874M	809M	1.3B	991M
Finance Division Loans and Leases Current	-	-	-	-	-
Finance Division Other Current Assets, Total	-	-	-	-	-
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	324M	226M	278M	868M	454M
Total Current Assets	20.18B	20.65B	22.17B	19.8B	17.98B
Gross Property Plant And Equipment	7.04B	8.45B	8.66B	8.83B	8.9B
Accumulated Depreciation	-4.24B	-4.71B	-4.93B	-4.82B	-4.89B
Net Property Plant And Equipment	2.79B	3.73B	3.74B	4.01B	4.02B
Long-term Investments	60M	58M	130M	110M	111M
Goodwill	6.37B	6.38B	6.8B	8.54B	8.59B
Other Intangibles, Total	661M	540M	784M	1.93B	1.59B
Finance Division Loans and Leases Long-Term	-	-	-	-	-
Finance Division Other Long-Term Assets, Total	-	-	-	-	-
Deferred Tax Assets Long-Term	2.62B	2.52B	2.92B	2.16B	3.16B
Deferred Charges Long-Term	30M	34M	36M	34M	44M
Other Long-Term Assets, Total	753M	772M	2.03B	2B	1.52B
Total Assets	33.47B	34.68B	38.61B	38.59B	37B
Liabilities
Accounts Payable, Total	14.79B	14.7B	16.08B	15.28B	14.05B
Accrued Expenses, Total	5.52B	5.43B	6.03B	4.98B	5.09B
Short-term Borrowings	50M	41M	434M	53M	51M
Current Portion of Long-Term Debt	58M	611M	662M	155M	165M
Current Portion of Leases	249M	297M	360M	415M	444M
Finance Division Debt Current	-	-	-	-	-
Current Income Taxes Payable	237M	223M	296M	286M	217M
Unearned Revenue Current, Total	1.18B	1.21B	1.28B	1.39B	1.42B
Other Current Liabilities	3.2B	3.71B	3.96B	3.58B	3.05B
Total Current Liabilities	25.29B	26.22B	29.1B	26.15B	24.49B
Long-Term Debt	4.42B	5.53B	6.4B	10.87B	9.3B
Long-Term Leases	363M	922M	950M	883M	838M
Unearned Revenue Non Current	1.07B	1.07B	1.1B	1.17B	1.32B
Pension & Other Post Retirement Benefits	1.76B	1.58B	1.04B	600M	545M
Deferred Tax Liability Non Current	60M	25M	57M	121M	44M
Other Non Current Liabilities	1.7B	1.57B	1.62B	1.71B	1.54B
Total Liabilities	34.66B	36.91B	40.26B	41.5B	38.07B
Common Stock, Total	15M	13M	11M	10M	10M
Additional Paid In Capital	835M	963M	1.06B	1.17B	1.5B
Retained Earnings	-818M	-1.96B	-2.46B	-4.41B	-2.36B
Comprehensive Income and Other	-1.22B	-1.24B	-260M	313M	-223M
Total Common Equity	-1.19B	-2.23B	-1.65B	-2.92B	-1.07B
Minority Interest	-	-	-	-	-
Total Equity	-1.19B	-2.23B	-1.65B	-2.92B	-1.07B
Total Liabilities And Equity	33.47B	34.68B	38.61B	38.59B	37B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.45B	1.29B	1.08B	982M	991M
ECS Total Common Shares Outstanding	1.46B	1.3B	1.09B	980M	989M
Book Value / Share	-0.82	-1.71	-1.51	-2.98	-1.08
Tangible Book Value	-8.23B	-9.15B	-9.24B	-13.39B	-11.25B
Tangible Book Value Per Share	-5.64	-7.02	-8.46	-13.67	-11.38
Total Debt	5.14B	7.4B	8.8B	12.37B	10.8B
Net Debt	600M	2.26B	4.5B	9.23B	7.56B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.66B	1.48B	216M	0	227M
Debt Equivalent Oper. Leases	1.6B	2.75B	2.69B	2.66B	2.69B
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	1.88B	2.3B	3.4B	2.71B	2.93B
Inventories - Finished Goods, Total	3.86B	3.66B	4.53B	4.88B	3.93B
Land - (BS)	1.98B	2.07B	2.17B	2.26B	2.33B
Buildings, Total	-	-	-	-	-
Machinery, Total	5.06B	5.28B	5.31B	5.34B	5.38B
Full Time Employees	56K	53K	51K	58K	58K
Accumulated Allowance for Doubtful Accounts (Supple)	111M	122M	111M	107M	93M

Fiscal Period: October	2019	2020	2021	2022	2023
Net Income	3.15B	2.84B	6.5B	3.2B	3.26B
Depreciation & Amortization - CF	628M	676M	631M	552M	500M
Amortization of Goodwill and Intangible Assets - (CF)	116M	113M	154M	228M	350M
Depreciation & Amortization, Total	744M	789M	785M	780M	850M
Asset Writedown & Restructuring Costs	275M	462M	245M	233M	527M
Stock-Based Compensation (CF)	297M	278M	330M	343M	438M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	387M	609M	-202M	1.05B	-933M
Change In Accounts Receivable	-761M	575M	-80M	1.26B	278M
Change In Inventories	-68M	-386M	-2.16B	233M	668M
Change In Accounts Payable	-53M	-35M	1.26B	-928M	-1.24B
Change In Income Taxes	-851M	-147M	64M	-83M	198M
Change in Other Net Operating Assets	1.53B	-673M	-329M	-1.63B	-478M
Cash from Operations	4.65B	4.32B	6.41B	4.46B	3.57B
Capital Expenditure	-671M	-580M	-582M	-791M	-609M
Sale of Property, Plant, and Equipment	-	3M	-	26M	16M
Cash Acquisitions	-458M	-	-854M	-2.76B	-7M
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	691M	-276M	276M	-43M	10M
Other Investing Activities, Total	0	-163M	148M	14M	-
Cash from Investing	-438M	-1.02B	-1.01B	-3.55B	-590M
Short Term Debt Issued, Total	-	27M	422M	-	-
Long-Term Debt Issued, Total	127M	3.08B	2.1B	4.18B	255M
Total Debt Issued	127M	3.11B	2.52B	4.18B	255M
Short Term Debt Repaid, Total	-856M	-	-	-400M	-10M
Long-Term Debt Repaid, Total	-680M	-1.85B	-1.24B	-693M	-1.7B
Total Debt Repaid	-1.54B	-1.85B	-1.24B	-1.09B	-1.71B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-2.4B	-3.11B	-6.25B	-4.3B	-100M
Common Dividends Paid	-970M	-997M	-938M	-1.04B	-1.04B
Common & Preferred Stock Dividends Paid	-970M	-997M	-938M	-1.04B	-1.04B
Other Financing Activities, Total	-61M	-128M	-51M	184M	-302M
Cash from Financing	-4.84B	-2.97B	-5.96B	-2.07B	-2.89B
Net Change in Cash	-629M	327M	-565M	-1.15B	87M
Supplemental Items
Cash Interest Paid	240M	227M	261M	305M	548M
Cash Income Tax Paid (Refund)	89M	464M	1.55B	749M	398M
Levered Free Cash Flow	4.03B	3.28B	4.02B	2.49B	3.08B
Unlevered Free Cash Flow	4.18B	3.43B	4.17B	2.72B	3.43B
Change In Net Working Capital	-1.14B	-469M	-9M	895M	-108M
Net Debt Issued / Repaid	-1.41B	1.26B	1.28B	3.08B	-1.46B

Fiscal Period: October	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.84	7.27	9.91	8.5	6.99
Return on Total Capital	57.31	54.37	58.94	39.52	27.68
Return On Equity %	-344.1	-166.27	-335.38	-140.24	-159.4
Return on Common Equity	-344.1	-166.27	-335.38	-140.24	-159.4
Margin Analysis
Gross Profit Margin %	19.01	18.43	21.13	19.58	21.42
SG&A Margin	8.99	8.62	8.73	8.36	9.97
EBITDA Margin %	8.54	8.39	10.39	9.57	9.45
EBITA Margin %	7.47	7.2	9.4	8.7	8.51
EBIT Margin %