HP (HPQ) FY2023 results: revenue $53.7 billion, down 14.7% on the year
HP Inc. (HPQ) reported revenue of $53.7 billion for fiscal 2023, the year ended 31 October 2023, down 14.7% on the year before. Net income was $3.3 billion, up 4.2%, and diluted earnings per share $3.26. The figures are the company's own, from the 10-K it filed with the SEC on 18 December 2023.
Revenue
$53.7 billion
-14.7% on the year
FY2016FY2023
Operating margin
6.4%
7.2% a year earlier
FY2016FY2023
Net income
$3.3 billion
+4.2% on the year
FY2016FY2023
Diluted EPS
$3.26
+9.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,571
4,463
6,409
-20.0%
Capital expenditure
593
765
582
-22.5%
Free cash flow
2,978
3,698
5,827
-19.5%
Free cash flow margin
5.5%
5.9%
9.2%
Cash from investing
-590
-3,549
-1,012
Cash from financing
-2,894
-2,068
-5,962
Depreciation and amortisation
850
780
785
+9.0%
Share-based compensation
438
343
330
+27.7%
Buybacks
100
4,297
6,249
-97.7%
Dividends paid
1,037
1,037
938
0.0%
Dividend per share
$1.05
$1.00
$0.78
+5.0%
Diluted shares, weighted
1,000m
1,050m
1,220m
-4.8%
Shares outstanding at period end
989m
980m
1,092m
+0.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-1,069
-3,025
-1,644
Debt
9,612
11,190
7,573
-14.1%
Operating lease liabilities
825
875
936
-5.7%
Other liabilities
27,636
29,454
31,745
-6.2%
Total liabilities and equity
37,004
38,494
38,610
-3.9%
Fixed assets
2,827
2,774
2,546
+1.9%
Goodwill
8,591
8,541
6,803
+0.6%
Intangible assets
1,593
1,933
784
-17.6%
Investments
n/a
n/a
5.0
Trading assets
n/a
n/a
76.0
Cash and equivalents
3,107
3,145
4,299
-1.2%
Receivables
4,237
4,546
5,536
-6.8%
Inventory
6,862
7,614
7,930
-9.9%
Other assets
9,787
9,941
10,631
-1.5%
Total assets
37,004
38,494
38,610
-3.9%
10-K for the year ended 31 October 2023, filed 18 December 2023: the filing.