HP (HPQ) FY2011 results: revenue $127.2 billion, up 1.0% on the year
HP Inc. (HPQ) reported revenue of $127.2 billion for fiscal 2011, the year ended 31 October 2011, up 1.0% on the year before. Net income was $7.1 billion, down 19.3%, and diluted earnings per share $3.32. The figures are the company's own, from the 10-K it filed with the SEC on 14 December 2011.
Revenue
$127.2 billion
+1.0% on the year
FY2007FY2011
Operating margin
7.6%
9.1% a year earlier
FY2007FY2011
Net income
$7.1 billion
-19.3% on the year
FY2007FY2011
Diluted EPS
$3.32
-10.0% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
127,245
126,033
114,552
+1.0%
Cost of revenue
97,223
95,550
87,198
+1.8%
Gross profit
30,022
30,483
27,354
-1.5%
Gross margin
23.6%
24.2%
23.9%
Research and development
3,254
2,959
2,819
+10.0%
Selling, general and administrative
13,577
12,822
11,648
+5.9%
Operating income
9,677
11,479
10,136
-15.7%
Operating margin
7.6%
9.1%
8.8%
Interest expense
522
417
597
+25.2%
Income tax
1,908
2,213
1,755
-13.8%
Net income
7,074
8,761
7,660
-19.3%
Net margin
5.6%
7.0%
6.7%
Diluted EPS
$3.32
$3.69
$3.14
-10.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
12,639
11,922
13,379
+6.0%
Capital expenditure
4,539
4,133
3,695
+9.8%
Free cash flow
8,100
7,789
9,684
+4.0%
Free cash flow margin
6.4%
6.2%
8.5%
Cash from investing
-13,959
-11,359
-3,580
Cash from financing
-1,566
-2,913
-6,673
Depreciation and amortisation
4,984
4,820
4,773
+3.4%
Share-based compensation
685
668
635
+2.5%
Buybacks
10,117
11,042
5,140
-8.4%
Dividends paid
844
771
766
+9.5%
Dividend per share
$0.40
$0.32
$0.32
+25.0%
Diluted shares, weighted
2,128m
2,372m
2,437m
-10.3%
Shares outstanding at period end
1,991m
2,204m
2,365m
-9.7%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
38,625
40,449
40,517
-4.5%
Non-controlling interest
379
332
247
+14.2%
Debt
30,634
22,304
13,980
+37.3%
Other liabilities
59,879
61,418
60,055
-2.5%
Total liabilities and equity
129,517
124,503
114,799
+4.0%
Fixed assets
12,292
11,763
11,262
+4.5%
Goodwill
44,551
38,483
33,109
+15.8%
Intangible assets
10,898
7,848
6,600
+38.9%
Investments
n/a
5.0
55.0
Securities held for sale or to maturity
444
n/a
n/a
Cash and equivalents
8,043
10,929
13,279
-26.4%
Receivables
18,224
18,481
16,537
-1.4%
Inventory
7,490
6,466
6,128
+15.8%
Other assets
27,575
30,528
27,829
-9.7%
Total assets
129,517
124,503
114,799
+4.0%
10-K for the year ended 31 October 2011, filed 14 December 2011: the filing.