HP Inc. is a leading global provider of personal computing and other digital access devices, imaging and printing products, and related technologies, solutions, and services. Operating in more than 170 countries, the company is organized into three reportable segments: Personal Systems, Printing, and Corporate Investments . HP Inc. sells a wide range of products including desktops, notebooks, workstations, printers, and related services, catering to both commercial and consumer markets .
- Personal Systems - Offers commercial and consumer desktops and notebooks, workstations, thin clients, commercial mobility devices, retail point-of-sale systems, displays, hybrid systems, software, solutions, and services.
- Commercial PS - Focuses on enterprise and SMB customers.
- Consumer PS - Targets individual consumers with a focus on gaming and remote work.
- Printing - Provides consumer and commercial printer hardware, supplies, solutions, and services, with a focus on office and home printing solutions, graphics solutions, and 3D printing and personalization.
- Corporate Investments - Engages in investing in key growth areas such as hybrid systems, gaming, workforce solutions, consumer subscriptions, industrial graphics, and 3D and personalization, which are expected to grow significantly by the 2026 fiscal year.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Anneliese Olson Executive | President of Imaging, Printing & Solutions | None | Anneliese Olson has been with HP for over 28 years and became President of Imaging, Printing & Solutions in November 2024. She previously served as SVP & Managing Director, North America Market. | |
David McQuarrie Executive | Chief Commercial Officer | None | David McQuarrie joined HP in November 2019 and became CCO in November 2022. He has held leadership roles in Personal Systems and Print Business Management at HP. | |
Enrique Lores Executive | President and Chief Executive Officer | Board Member at PayPal Holdings, Inc. | Enrique Lores has been with HP since 1989 and became CEO in November 2019. He previously led the separation of Hewlett-Packard into HP Inc. and Hewlett Packard Enterprise. | View Report → |
Julie Jacobs Executive | Chief Legal Officer and General Counsel | None | Julie Jacobs joined HP in October 2022. She previously held senior legal roles at Yahoo, Verizon Media, and AOL, including General Counsel and Corporate Secretary positions. | |
Karen L. Parkhill Executive | Chief Financial Officer | Board Member at American Express | Karen Parkhill joined HP in August 2024 as CFO. She previously served as CFO at Medtronic and Comerica and held leadership roles at J.P. Morgan Chase. | |
Kristen Ludgate Executive | Chief People Officer | None | Kristen Ludgate joined HP in July 2021. She previously served as EVP and Chief Human Resources Officer at 3M, where she led global teams in HR, legal, compliance, and communications. | |
Stephanie Liebman Executive | Global Controller | None | Stephanie Liebman rejoined HP in February 2023 and became Global Controller in December 2023. She has over 21 years of experience at HP and its predecessor, Hewlett-Packard Company. | |
Bruce Broussard Board | Independent Director | President, CEO, and Director of Humana Inc. | Bruce Broussard joined HP's board in 2021. He is the CEO of Humana and has extensive experience in healthcare and health technology sectors. | |
Chip Bergh Board | Independent Chair of the Board | Board Member at Levi Strauss & Co. | Chip Bergh has been a director at HP since 2015 and Chair of the Board since 2017. He is the former CEO of Levi Strauss & Co. and held senior roles at Procter & Gamble. | |
David Meline Board | Independent Director | Board Member at ABB Ltd. and Pacific Biosciences of California, Inc. | David Meline joined HP's board in November 2023. He is the former CFO of Moderna and Amgen, with extensive experience in finance and scaling growth businesses. | |
Judith "Jami" Miscik Board | Independent Director | Senior Advisor at Lazard Ltd; Board Member at General Motors Company and Morgan Stanley | Jami Miscik joined HP's board in 2021. She is the former CEO of Kissinger Associates and has extensive experience in international affairs and risk assessment. | |
Kim K.W. Rucker Board | Independent Director | Board Member at Celanese Corporation, Marathon Petroleum Corporation, and Lennox International Inc. | Kim Rucker joined HP's board in 2021. She has held senior legal and governance roles at Andeavor, Kraft Foods, and Avon Products. | |
Mary Anne Citrino Board | Independent Director | Senior Advisor at Blackstone; Board Member at Alcoa Corporation | Mary Anne Citrino joined HP's board in 2015. She has over 30 years of experience in investment banking and financial advisory, with expertise in strategy and financial management. | |
Richard L. Clemmer Board | Independent Director | Chairman of Privafy, Inc.; Board Member at Aptiv PLC and Seagate Technology | Richard Clemmer joined HP's board in 2020. He is the former CEO of NXP Semiconductors and has extensive experience in semiconductors, storage, and software industries. | |
Robert R. Bennett Board | Independent Director | Managing Director at Hilltop Investments, LLC; Board Member at Liberty Media Corporation and Warner Bros. Discovery, Inc. | Robert Bennett joined HP's board in 2013. He is the former CEO of Liberty Media and has extensive experience in media and telecommunications. | |
Stacy Brown-Philpot Board | Independent Director | Founder and Managing Director of Cherryrock Capital; Board Member at Nordstrom, Inc. | Stacy Brown-Philpot joined HP's board in 2015. She is the former CEO of TaskRabbit and held leadership roles at Google. | |
Stephanie A. Burns Board | Independent Director | Board Member at Corning Incorporated and Kellanova Company | Stephanie Burns joined HP's board in 2015. She is the former CEO of Dow Corning and has expertise in scientific research, product development, and business management. |
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Given that most of your products are manufactured outside the U.S., and with the potential for new tariffs on imported goods, how specifically do you plan to mitigate risks to your supply chain and margins if such tariffs are imposed?
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Despite the aggressive cost optimizations under your Future Ready Transformation Plan, operating income appears to be roughly flat year-over-year; why aren't these cost savings translating into higher operating income or free cash flow growth?
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In the Print segment, you mentioned ongoing competitive pressure due to Japanese competitors leveraging the weak yen; how do you plan to sustain margins and gain market share in this challenging pricing environment?
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You expect AI PCs to make up approximately 25% of your PC unit shipments in FY '25; what concrete steps are you taking to ensure this transition drives meaningful revenue and margin expansion, especially considering potential ASP benefits?
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Given your capital allocation policy maintains a gross leverage ratio under 2x, why not reassess this target in light of improved operating performance and potential growth opportunities, potentially allowing for greater investments or increased shareholder returns?
Research analysts who have asked questions during HP earnings calls.
Michael Ng
Goldman Sachs
5 questions for HPQ
Wamsi Mohan
Bank of America Merrill Lynch
5 questions for HPQ
Erik Woodring
Morgan Stanley
3 questions for HPQ
Samik Chatterjee
JPMorgan Chase & Co.
3 questions for HPQ
Asiya Merchant
Citigroup Global Markets Inc.
2 questions for HPQ
David Vogt
UBS Group AG
2 questions for HPQ
Irvin Liu
Evercore ISI
2 questions for HPQ
Toni Sacconaghi
Bernstein
2 questions for HPQ
Aaron Rakers
Wells Fargo
1 question for HPQ
Alek Valero
Loop Capital Markets
1 question for HPQ
Alex Valero
Loop Capital Markets
1 question for HPQ
Ananda Baruah
Loop Capital Markets LLC
1 question for HPQ
Brian Luke
UBS
1 question for HPQ
Dylan Lima
Morgan Stanley
1 question for HPQ
Jake Sisco
Wells Fargo
1 question for HPQ
Joe Cardoso
JPMorgan Chase & Co.
1 question for HPQ
Jyhhaw Liu
Evercore ISI
1 question for HPQ
Krish Sankar
TD Cowen
1 question for HPQ
Maya Neuman
Morgan Stanley
1 question for HPQ
Mike Cadiz
Citigroup
1 question for HPQ
Steven Chin
TD Cowen
1 question for HPQ
Steven Fox
Fox Research
1 question for HPQ
Steven Milunovich
TD Cowen
1 question for HPQ
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Acer Inc. | The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. |
The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. | |
ASUSTeK Computer Inc. | The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. |
The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. | |
Huawei Technologies Co., Ltd. | The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. |
Lenovo Group Limited | The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. |
The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. | |
The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. | |
Samsung Electronics Co., Ltd. | The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. |
Toshiba Corporation | The markets in which Personal Systems operates are highly competitive and are characterized by price competition and introduction of new products and solutions. Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation. |
Brother Industries, Ltd. | The markets for printer hardware and associated supplies are highly competitive. Printing's key customer segments each face competitive market pressures in pricing and the introduction of new products. Our primary competitors include Brother Industries, Ltd., Canon Inc., Lexmark International, Inc., Pantum, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd. |
The markets for printer hardware and associated supplies are highly competitive. Printing's key customer segments each face competitive market pressures in pricing and the introduction of new products. Our primary competitors include Brother Industries, Ltd., Canon Inc., Lexmark International, Inc., Pantum, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd. | |
Lexmark International, Inc. | The markets for printer hardware and associated supplies are highly competitive. Printing's key customer segments each face competitive market pressures in pricing and the introduction of new products. Our primary competitors include Brother Industries, Ltd., Canon Inc., Lexmark International, Inc., Pantum, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd. |
Pantum | The markets for printer hardware and associated supplies are highly competitive. Printing's key customer segments each face competitive market pressures in pricing and the introduction of new products. Our primary competitors include Brother Industries, Ltd., Canon Inc., Lexmark International, Inc., Pantum, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd. |
Seiko Epson Corporation | The markets for printer hardware and associated supplies are highly competitive. Printing's key customer segments each face competitive market pressures in pricing and the introduction of new products. Our primary competitors include Brother Industries, Ltd., Canon Inc., Lexmark International, Inc., Pantum, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd. |
The Ricoh Company Ltd. | The markets for printer hardware and associated supplies are highly competitive. Printing's key customer segments each face competitive market pressures in pricing and the introduction of new products. Our primary competitors include Brother Industries, Ltd., Canon Inc., Lexmark International, Inc., Pantum, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd. |
The markets for printer hardware and associated supplies are highly competitive. Printing's key customer segments each face competitive market pressures in pricing and the introduction of new products. Our primary competitors include Brother Industries, Ltd., Canon Inc., Lexmark International, Inc., Pantum, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
TD Synnex Corp | Third-party distributor/reseller | All | Accounts receivable was 9.7% of gross A/R as of Oct 31, 2024 , down from 13.2% in 2023. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Vyopta | 2024 | HP's acquisition of Vyopta aims to enhance its platform by providing customers comprehensive control over their digital ecosystems via a single dashboard, although specific deal value and detailed rationale were not disclosed. |
Cybercore Technologies | 2024 | HP acquired Cybercore Technologies to strengthen its expertise in secure supply chain management and cyber solutions for the U.S. federal government, thereby enhancing its security offerings. |
Poly (Plantronics, Inc.) | 2022 | HP completed an all-cash acquisition of Poly for approximately $3.3 billion at $40 per share, integrating Poly’s leadership in workplace collaboration solutions to expand its portfolio in hybrid work environments. |
Recent press releases and 8-K filings for HPQ.
- Expect PC unit growth mid-single digits through 2025 and further growth in 2026; print market to decline slightly in 2025 and remain flat in 2026.
- PC growth driven by COVID-era refresh, >50% Windows 11 transition completed, and AI PCs reaching 25% of mix one quarter ahead of plan, boosting revenue and margins.
- Completed shift of North America PC production out of China to Southeast Asia, Mexico, and the US by Q3 2025 to mitigate tariffs; cost increases being offset by aggressive cost reductions and targeted price increases.
- Printing supplies revenue declining mid-single digits as install base shrinks, partially offset by gains in HP original supplies share and pricing; office segment pressure from competitor currency advantages.
- Print subscription base at ~13 million, expanded “all-in” printer+supplies+support model; pursuing AI-driven peripherals and launched HP-Google 3D video collaboration system to enhance future-of-work offerings.
- Reduced start-up time by 50%, doubled batch throughput, and fivefold increase in material output in Test #6 of the Fumed Silica Reactor pilot project.
- Material from Test #6 delivered to two third-party labs—a global fumed silica manufacturer under LOI and a university laboratory—for independent analysis.
- Entered a $150,000 related-party loan to exercise 1,000,000 warrants of Quebec Innovative Materials Corp at $0.15 per share, expiring August 30, 2025.
- The 90-day, unsecured, interest-free loan is convertible into HPQ units at redemption and is subject to TSXV approval.
- HPQ Silicon began production of its first HPQ ENDURA+ cylindrical lithium-ion battery cells (18650 & 21700) using Novacium’s GEN3 silicon-based anode technology; initial batch delivery is scheduled by end-September 2025.
- The company completed and released technical datasheets detailing cell dimensions, brand design, and performance metrics, formalizing market readiness.
- Prototype cells offer 4,000 mAh (18650) and 6,000 mAh (21700) capacities with an independently validated lifespan of ~1,000 cycles, tested at Tsinghua University.
- HPQ Silicon aims to integrate these cells across high-capacity applications amid a projected lithium-ion battery market growth to US$45.6 billion by 2033.
- HPQ Silicon signed a new industrial agreement with Novacium SAS on July 2, 2025 to begin parallel GEN3 battery cell production in North America.
- The concurrent model targets first deliveries of 18650 (4,000 mAh) and 21700 (6,000 mAh) cells by end of Q3 2025, accelerating market entry under HPQ’s exclusive license.
- Leveraging Novacium’s technology transfer and strong stakeholder interest, HPQ aims to generate early commercial revenues in the North American market.
- This shift from a two-phase rollout to simultaneous production is designed to meet market demand more rapidly and unlock the full value of HPQ’s GEN3 technology.
- Strong PC demand in the commercial market was noted, though unexpected tariffs increased costs in Q2, leading to moderated growth expectations for the second half.
- The CEO detailed a swift manufacturing shift from China to Southeast Asia and Mexico for U.S. shipments post-COVID, with short-term inefficiencies expected to be mitigated by Q4.
- Emphasis was placed on reaching a 25% AIPC shipment target and capitalizing on scheduled Windows 11 upgrades to sustain PC demand even as overall unit growth slows.
- Enhanced performance in the print segment was highlighted, driven by advances in subscription models and the strategic integration of the Poly acquisition, alongside a focus on restoring normalized free cash flow.
- HP Inc. announced the pricing for its underwritten public offering of $1 billion aggregate principal amount of senior unsecured notes, including 5.400% notes due 2030 at 99.732% and 6.100% notes due 2035 at 99.778%.
- The net proceeds will be used for general corporate purposes, such as repayment and refinancing of debt, including its 2.200% notes due in June 2025.
- The issuance is expected to close on April 25, 2025, with several major underwriters participating.