HP (HPQ) FY2017 results: revenue $52.1 billion, up 7.9% on the year
HP Inc. (HPQ) reported revenue of $52.1 billion for fiscal 2017, the year ended 31 October 2017, up 7.9% on the year before. Net income was $2.5 billion, up 1.2%, and diluted earnings per share $1.48. The figures are the company's own, from the 10-K/A it filed with the SEC on 15 December 2017.
Revenue
$52.1 billion
+7.9% on the year
FY2010FY2017
Operating margin
6.5%
7.4% a year earlier
FY2010FY2017
Net income
$2.5 billion
+1.2% on the year
FY2010FY2017
Diluted EPS
$1.48
+3.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
52,056
48,238
51,463
+7.9%
Cost of revenue
42,478
39,240
41,524
+8.3%
Gross profit
9,578
8,998
9,939
+6.4%
Gross margin
18.4%
18.7%
19.3%
Research and development
1,190
1,209
1,191
-1.6%
Selling, general and administrative
4,532
3,840
4,719
+18.0%
Operating income
3,368
3,549
3,920
-5.1%
Operating margin
6.5%
7.4%
7.6%
Interest expense
309
273
567
+13.2%
Pre-tax income
3,276
3,761
3,532
-12.9%
Income tax
750
1,095
-186
-31.5%
Effective tax rate
22.9%
29.1%
-5.3%
Net income
2,526
2,496
4,554
+1.2%
Net margin
4.9%
5.2%
8.8%
Diluted EPS
$1.48
$1.43
$2.48
+3.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
3,677
3,252
7,026
+13.1%
Capital expenditure
402
433
3,603
-7.2%
Free cash flow
3,275
2,819
3,423
+16.2%
Free cash flow margin
6.3%
5.8%
6.7%
Cash from investing
-1,717
48.0
-5,534
Cash from financing
-1,251
-14,423
808
Depreciation and amortisation
354
332
4,061
+6.6%
Share-based compensation
224
182
709
+23.1%
Buybacks
1,412
1,161
2,883
+21.6%
Dividends paid
894
858
1,250
+4.2%
Dividend per share
$0.53
$0.50
$0.67
+6.0%
Diluted shares, weighted
1,702m
1,743m
1,836m
-2.4%
Shares outstanding at period end
1,650m
1,712m
1,804m
-3.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-3,408
-3,889
27,768
Non-controlling interest
n/a
n/a
383
Debt
7,819
6,836
8,871
+14.4%
Other liabilities
28,502
26,063
69,860
+9.4%
Total liabilities and equity
32,913
29,010
106,882
+13.5%
Fixed assets
1,878
1,736
1,492
+8.2%
Goodwill
5,622
5,622
5,680
0.0%
Intangible assets
3.0
n/a
2,014
Investments
1,210
55.0
n/a
+2,100.0%
Securities held for sale or to maturity
n/a
n/a
44.0
Trading assets
1,210
n/a
n/a
Cash and equivalents
6,997
6,288
17,433
+11.3%
Receivables
4,414
4,114
4,825
+7.3%
Inventory
5,786
4,484
4,288
+29.0%
Other assets
5,793
6,711
71,106
-13.7%
Total assets
32,913
29,010
106,882
+13.5%
10-K/A for the year ended 31 October 2017, filed 15 December 2017: the filing.