HP Inc. — Intrinsic Value & Fair Price

HPQ

NYSETechnologyComputer HardwareCIK 0000047217www-redirect.ext.hp.comAbout HPQ

Last close · Oct 16, 202630.01−0.84 (−2.72%)

Market cap$27.1B

Model value · DCF · Perpetuity growth · 5y

51.10

HP closed at $30.01 — undervalued by 41% vs model.

33.81the model's range103.12

DCF · Perpetuity growth · 5y leads for a mature, steady company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models

20.29 – 50.81

Wall St. target

32.00 6% below

Below model, 1y

17 of 20 days

Price and model value

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What the marks mean

Daily close

Valuation models

price $30.01 · as of Oct 17, 2026

DCF · Perpetuity growth · 5yused33.81 – 103.1251.1041% undervalued DCF · Perpetuity growth · 10y33.65 – 94.0648.9739% undervalued DCF · EBITDA exit · 5y14.80 – 47.1329.581% overvalued DCF · EBITDA exit · 10y21.36 – 50.6133.7811% undervalued P/E · peers24.04 – 33.1626.9511% overvalued P/E · own history22.10 – 30.1227.1710% overvalued PEG—50.8141% undervalued EV/EBITDA · peers9.64 – 31.9020.2948% overvalued EV/Revenue · peers28.05 – 45.7838.3522% undervalued Earnings power value25.76 – 39.5831.455% undervalued Dividend discount15.55 – 32.8321.6738% overvalued Wall St. consensus target—32.006% below Cost of capital (WACC)—8.46%—

DCF · Perpetuity growth · 5y leads for a mature, steady company — positive operating income and three years of positive free cash flow. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026

Yield, trailing 12 months

4.00%

Past 2 years

low 2.81%high 6.47%

Dividends per share, a year at a time

Dividends / free cash flow, FY2025: 38.9%
Raised: 15 years in a row
Growth, 5 yrs: 9.1% a year
Last change: +3.7% · Dec 2025

Every payment, with ex-dates · latest $0.30, paid Oct 7, 2026

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How it is valued

Valued asMature & stable

Low/slowing growth (~1% recent)Thin margins (4.6% net margin)Strong dividend yieldHighly cyclical earningsHigh leverage (D/E 5.0x)Strong FCF yield (10.3%)

What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for mature companies

P/E

11.3×

EV / EBITDA

8.1×

FCF yield

9.9%

Dividend yield, TTM

4.00%

Beta

1.19

Cost of capital (WACC)

8.46%

On the lists: #32 Highest free cash flow yield · #28 Lowest P/E

Full financials

Superinvestors

13F · Q2 2026

Dodge & CoxDodge & Cox$935.3M BridgewaterBridgewater Associates, LP$3.6M Francis ChouChou Associates Management Inc.$581,410

All 3 holders

Analyst actions

third-party, quoted

09-10RBC Capital · target33.00

08-28Barclays · target23.00

08-27Bernstein · target32.00

02-03B of A Securities · “Underperform” from “Neutral”downgrade

Ratings, targets and estimates

Recent

filings, insider trades and key news

10-02Form 4 · SMcQuarrie David P. · 31,572 sh@ 32.12 09-218-K · 7.01Regulation FD Disclosure 09-01Form 4 · GFrancisco Ma. Fatima · 12,176 sh@ 0.00 09-01Form 4 · GFrancisco Ma. Fatima · 12,176 sh@ 0.00 08-31Form 4 · GFrancisco Ma. Fatima · 12,176 sh@ 0.00 08-31Form 4 · GFrancisco Ma. Fatima · 12,176 sh@ 0.00

60 filings · 40 insider transactions

Comparable companies

by business, not by industry label

DELLDell Technologies HPEHewlett Packard Enterprise AAPLApple

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just HPQ. No account.

About HP

HP Inc. is a global technology company specializing in personal computing devices, imaging and printing solutions, and a variety of related technologies, software, and support services, serving clients both in the United States and worldwide. Its operations are structured into three main divisions: Personal Systems, Printing, and Corporate Investments. The Personal Systems segment offers a broad array of computing hardware, including desktop and laptop personal computers for both business and individual consumers, along with specialized workstations, thin clients, commercial mobile devices, retail point-of-sale systems, displays, and various peripherals. This division also encompasses essential software, support, and associated services. The Printing division focuses on delivering printer hardware for both general consumers and commercial clients, alongside a full suite of supplies, comprehensive print solutions, and related services. Finally, the Corporate Investments segment is dedicated to fostering innovation through HP Labs, incubating new business ventures, and managing various investment projects. HP's extensive client base spans individual end-users, small and medium-sized enterprises (SMEs), and major corporations, reaching diverse sectors such as government, healthcare, and education. Established in 1939, the company initially operated as Hewlett-Packard Company before rebranding to HP Inc. in October 2015. Its corporate headquarters are located in Palo Alto, California.

CEO: Bruce Dale Broussard
Headquarters: Palo Alto, CA
Employees: 55,000
IPO: 1957-11-06

Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.