HP (HPQ) FY2015 results: revenue $51.5 billion, down 9.2% on the year
HP Inc. (HPQ) reported revenue of $51.5 billion for fiscal 2015, the year ended 31 October 2015, down 9.2% on the year before. Net income was $4.6 billion, down 9.2%, and diluted earnings per share $2.48. The figures are the company's own, from the 10-K it filed with the SEC on 16 December 2015.
Revenue
$51.5 billion
-9.2% on the year
FY2008FY2015
Operating margin
7.6%
7.5% a year earlier
FY2008FY2015
Net income
$4.6 billion
-9.2% on the year
FY2008FY2015
Diluted EPS
$2.48
-5.3% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
51,463
56,651
55,273
-9.2%
Cost of revenue
41,524
45,431
44,754
-8.6%
Gross profit
9,939
11,220
10,519
-11.4%
Gross margin
19.3%
19.8%
19.0%
Research and development
1,191
1,298
1,209
-8.2%
Selling, general and administrative
4,719
5,361
5,428
-12.0%
Operating income
3,920
4,256
3,516
-7.9%
Operating margin
7.6%
7.5%
6.4%
Interest expense
567
621
738
-8.7%
Pre-tax income
3,532
3,863
3,055
-8.6%
Income tax
-186
939
595
Effective tax rate
-5.3%
24.3%
19.5%
Net income
4,554
5,013
5,113
-9.2%
Net margin
8.8%
8.8%
9.3%
Diluted EPS
$2.48
$2.62
$2.62
-5.3%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
7,026
12,333
11,608
-43.0%
Capital expenditure
3,603
3,853
3,199
-6.5%
Free cash flow
3,423
8,480
8,409
-59.6%
Free cash flow margin
6.7%
15.0%
15.2%
Cash from investing
-5,534
-2,792
-2,803
Cash from financing
808
-6,571
-7,943
Depreciation and amortisation
4,061
4,334
4,611
-6.3%
Share-based compensation
709
560
500
+26.6%
Buybacks
2,883
2,728
1,532
+5.7%
Dividends paid
1,250
1,184
1,105
+5.6%
Dividend per share
$0.67
$0.61
$0.55
+9.8%
Diluted shares, weighted
1,836m
1,912m
1,950m
-4.0%
Shares outstanding at period end
1,804m
1,839m
1,908m
-1.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
27,768
26,731
27,269
+3.9%
Non-controlling interest
383
396
387
-3.3%
Debt
8,871
19,525
22,587
-54.6%
Other liabilities
69,860
56,554
55,433
+23.5%
Total liabilities and equity
106,882
103,206
105,676
+3.6%
Fixed assets
1,492
2,797
11,463
-46.7%
Goodwill
5,680
5,691
5,691
-0.2%
Intangible assets
2,014
2,128
3,169
-5.4%
Securities held for sale or to maturity
44.0
568
459
-92.3%
Cash and equivalents
17,433
15,133
12,163
+15.2%
Receivables
4,825
5,345
15,876
-9.7%
Inventory
4,288
4,531
6,046
-5.4%
Other assets
71,106
67,013
50,809
+6.1%
Total assets
106,882
103,206
105,676
+3.6%
10-K for the year ended 31 October 2015, filed 16 December 2015: the filing.