HP Inc. (HPQ) Balance Sheet
HPQ balance sheet, FY2025
October 31, 2025 · U.S. dollars$41.77B assets = $42.12B liabilities + −$346.0M equity
Liabilities exceed assets: shareholders’ equity is negative (−$346.0M).
Both columns are drawn to the same scale: what HPQ owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HPQ financial health
Descriptive bands, not a rating. Fiscal FY2025.
HPQ balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $29.01BFY2016 | $41.77BFY2025 | +4.1%/yr | |
| Total liabilities | $32.90BFY2016 | $42.12BFY2025 | +2.8%/yr | |
| Shareholders’ equity | −$3.89BFY2016 | −$346.0MFY2025 | — | |
| Cash & short-term investments | $6.29BFY2016 | $3.69BFY2025 | −5.8%/yr | |
| Total debt | $6.81BFY2016 | $10.88BFY2025 | +5.3%/yr | |
| Net cash (debt) | −$525.0MFY2016 | −$7.19BFY2025 | −$6.7B | |
| Working capital | −$340.0MFY2016 | −$6.80BFY2025 | −$6.5B | |
| Book value per share | −$2.23FY2016 | −$0.36FY2025 | — | |
| Current ratio | 0.98FY2016 | 0.77FY2025 | −0.21 | |
| Shares outstanding | 1.74BFY2016 | 953.0MFY2025 | −6.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HPQ assets
HPQ liabilities and equity
HPQ debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HPQ balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.69B | $3.24B | $3.11B | $3.15B | $4.30B | $5.14B | $4.54B | $5.88B | $8.15B | $6.29B |
| Cash & equivalents | $3.69B | $3.24B | $3.11B | $3.15B | $4.30B | $4.86B | $4.54B | $5.17B | $7.00B | $6.29B |
| Short-term investments | — | — | $70.0M | $5.0M | $5.0M | $274.0M | $711.0M | $711.0M | $1.15B | $0 |
| Receivables | $8.66B | $8.32B | $6.44B | $6.89B | $8.87B | $8.44B | $8.94B | $8.00B | $7.16B | $6.61B |
| Inventory | $8.51B | $7.72B | $6.86B | $7.61B | $7.93B | $5.96B | $5.73B | $6.06B | $5.79B | $4.48B |
| Other current assets | $1.59B | $1.48B | $1.57B | $2.09B | $1.06B | $1.10B | $967.0M | $1.45B | $1.22B | $1.09B |
| Total current assets | $22.45B | $20.76B | $17.98B | $19.74B | $22.17B | $20.65B | $20.18B | $21.39B | $22.32B | $18.47B |
| Property, plant & equipment (net) | $4.18B | $4.08B | $4.01B | $4.01B | $3.74B | $3.73B | $2.79B | $2.20B | $1.88B | $1.74B |
| Goodwill & intangible assets | $9.72B | $9.95B | $10.18B | $10.47B | $7.59B | $6.92B | $7.03B | $6.42B | $5.62B | $7.64B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $58.0M | $56.0M | $53.0M | $61.0M | $103.0M |
| Other non-current assets | $5.42B | $5.12B | $4.83B | $4.27B | $5.11B | $3.32B | $3.41B | $4.56B | $3.03B | $1.07B |
| Total assets | $41.77B | $39.91B | $37.00B | $38.49B | $38.60B | $34.68B | $33.47B | $34.62B | $32.91B | $29.01B |
| Liabilities | ||||||||||
| Accounts payable | $18.05B | $16.90B | $14.05B | $15.30B | $16.07B | $14.70B | $14.79B | $14.82B | $13.28B | $11.10B |
| Short-term debt | $1.25B | $1.85B | $660.0M | $623.0M | $1.46B | $949.0M | $357.0M | $1.46B | $1.07B | $78.0M |
| Deferred revenue | $1.61B | $1.45B | $1.42B | $1.39B | $1.28B | $1.21B | $1.18B | $1.09B | $1.01B | $919.0M |
| Total current liabilities | $29.26B | $28.69B | $24.49B | $26.19B | $29.10B | $26.22B | $25.29B | $25.13B | $22.41B | $18.81B |
| Long-term debt | $8.82B | $8.26B | $9.25B | $10.80B | $6.39B | $5.54B | $4.78B | $4.52B | $6.75B | $6.76B |
| Lease obligations | $1.22B | $1.23B | $1.25B | $1.28B | $1.29B | $1.18B | — | — | — | — |
| Other long-term liabilities | $4.04B | $4.28B | $4.33B | $4.53B | $4.80B | $5.15B | $4.59B | $5.61B | $7.16B | $7.31B |
| Total liabilities | $42.12B | $41.23B | $38.07B | $41.52B | $40.25B | $36.91B | $34.66B | $35.26B | $36.32B | $32.90B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $9.0M | $9.0M | $10.0M | $10.0M | $11.0M | $13.0M | $15.0M | $679.0M | $16.0M | $1.05B |
| Retained earnings (deficit) | −$2.03B | −$2.68B | −$2.36B | −$4.49B | −$2.47B | −$1.96B | −$818.0M | −$473.0M | −$2.39B | −$3.50B |
| Treasury stock | — | — | — | — | — | — | — | $0 | — | $0 |
| Accumulated other comprehensive income | −$457.0M | −$434.0M | −$223.0M | $285.0M | −$245.0M | −$1.24B | −$1.23B | −$845.0M | −$1.42B | −$1.44B |
| Minority interest | — | — | — | — | — | — | — | $0 | — | $0 |
| Total shareholders' equity | −$346.0M | −$1.32B | −$1.07B | −$3.02B | −$1.64B | −$2.23B | −$1.19B | −$639.0M | −$3.41B | −$3.89B |
| Key figures | ||||||||||
| Total debt | $10.88B | $10.90B | $10.74B | $12.29B | $8.78B | $7.40B | $5.14B | $5.99B | $7.82B | $6.81B |
| Net cash (debt) | −$7.19B | −$7.66B | −$7.63B | −$9.15B | −$4.48B | −$2.26B | −$600.0M | −$110.0M | $327.0M | −$525.0M |
| Working capital | −$6.80B | −$7.93B | −$6.51B | −$6.45B | −$6.93B | −$5.57B | −$5.12B | −$3.74B | −$94.0M | −$340.0M |
| Tangible book value | −$10.06B | −$11.27B | −$11.25B | −$13.50B | −$9.23B | −$9.15B | −$8.23B | −$7.06B | −$9.03B | −$11.53B |
| Book value per share | −$0.36 | −$1.34 | −$1.07 | −$2.88 | −$1.35 | −$1.57 | −$0.78 | −$0.39 | −$2.00 | −$2.23 |
| Shares outstanding | 953.0M | 989.0M | 1.00B | 1.05B | 1.22B | 1.42B | 1.52B | 1.63B | 1.70B | 1.74B |
| Current ratio | 0.77 | 0.72 | 0.73 | 0.75 | 0.76 | 0.79 | 0.80 | 0.85 | 1.00 | 0.98 |
| Quick ratio | 0.42 | 0.40 | 0.39 | 0.38 | 0.45 | 0.52 | 0.53 | 0.55 | 0.68 | 0.69 |
| Equity / assets | −0.8% | −3.3% | −2.9% | −7.9% | −4.3% | −6.4% | −3.6% | −1.8% | −10.4% | −13.4% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $4.17B | $3.70B | $3.15B | $3.69B | $2.87B | $2.70B | $2.88B | $3.24B | $2.79B | $2.44B | $2.26B | $3.11B |
| Cash & equivalents | $4.17B | $3.70B | $3.15B | $3.69B | $2.87B | $2.70B | $2.88B | $3.24B | $2.79B | $2.44B | $2.26B | $3.11B |
| Short-term investments | — | — | — | — | — | — | $14.0M | — | $4.63B | — | −$671.0M | $3.34B |
| Receivables | $10.77B | $9.55B | $8.69B | $8.66B | $7.72B | $6.71B | $6.90B | $8.32B | $7.11B | $6.98B | $6.14B | $6.44B |
| Inventory | $10.32B | $9.20B | $8.74B | $8.51B | $8.36B | $8.18B | $8.44B | $7.72B | $7.79B | $7.51B | $6.93B | $6.86B |
| Other current assets | $1.49B | $1.53B | $1.64B | $1.59B | $1.63B | $1.87B | $1.61B | $1.48B | $1.63B | $1.66B | $1.53B | $1.57B |
| Total current assets | $26.75B | $23.98B | $22.23B | $22.45B | $20.57B | $19.46B | $19.83B | $20.76B | $19.32B | $18.59B | $16.86B | $17.98B |
| Property, plant & equipment (net) | $4.20B | $4.17B | $4.20B | $4.18B | $4.08B | $4.05B | $4.06B | $4.08B | $3.96B | $3.94B | $3.97B | $4.01B |
| Goodwill & intangible assets | $9.53B | $9.61B | $9.68B | $9.72B | $9.79B | $9.94B | $9.85B | $9.95B | $9.97B | $10.03B | $10.13B | $10.18B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $5.23B | $5.17B | $5.43B | $5.42B | $5.41B | $5.34B | $5.19B | $5.12B | $4.82B | $4.88B | $4.89B | $4.83B |
| Total assets | $45.70B | $42.94B | $41.53B | $41.77B | $39.85B | $38.80B | $38.93B | $39.91B | $38.06B | $37.43B | $35.85B | $37.00B |
| Liabilities | ||||||||||||
| Accounts payable | $21.38B | $19.17B | $18.22B | $18.05B | $16.98B | $15.20B | $16.48B | $16.90B | $15.45B | $14.36B | $13.26B | $14.05B |
| Short-term debt | $1.70B | $1.22B | $1.28B | $1.25B | $1.23B | $1.86B | $1.85B | $1.85B | $1.83B | $730.0M | $818.0M | $660.0M |
| Deferred revenue | $1.76B | $1.71B | $1.65B | $1.61B | $1.55B | $1.50B | $1.45B | $1.45B | $1.38B | $1.41B | $1.42B | $1.42B |
| Total current liabilities | $33.96B | $30.21B | $29.29B | $29.26B | $27.86B | $26.56B | $27.43B | $28.69B | $27.04B | $24.84B | $23.86B | $24.49B |
| Long-term debt | $7.87B | $8.86B | $8.84B | $8.82B | $8.78B | $9.29B | $8.27B | $8.26B | $8.23B | $9.33B | $9.30B | $9.25B |
| Lease obligations | $1.18B | $1.20B | $1.24B | $1.22B | $1.17B | $1.18B | $1.21B | $1.23B | $1.18B | $1.24B | $1.27B | $1.25B |
| Other long-term liabilities | $3.96B | $4.02B | $4.17B | $4.04B | $4.11B | $4.23B | $4.29B | $4.28B | $4.18B | $4.18B | $4.33B | $4.33B |
| Total liabilities | $45.79B | $43.08B | $42.30B | $42.12B | $40.76B | $40.08B | $40.00B | $41.23B | $39.45B | $38.35B | $37.49B | $38.07B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $9.0M | $9.0M | $9.0M | $9.0M | $9.0M | $9.0M | $9.0M | $9.0M | $10.0M | $10.0M | $10.0M | $10.0M |
| Retained earnings (deficit) | −$2.12B | −$1.96B | −$2.33B | −$2.03B | −$2.36B | −$2.44B | −$2.75B | −$2.68B | −$2.73B | −$2.26B | −$2.77B | −$2.36B |
| Accumulated other comprehensive income | −$348.0M | −$501.0M | −$654.0M | −$457.0M | −$641.0M | −$843.0M | −$204.0M | −$434.0M | −$415.0M | −$332.0M | −$458.0M | −$223.0M |
| Total shareholders' equity | −$92.0M | −$144.0M | −$766.0M | −$346.0M | −$901.0M | −$1.28B | −$1.07B | −$1.32B | −$1.39B | −$916.0M | −$1.64B | −$1.07B |
| Key figures | ||||||||||||
| Total debt | $10.34B | $10.86B | $10.94B | $10.88B | $10.78B | $11.92B | $10.90B | $10.90B | $10.81B | $10.83B | $10.93B | $10.74B |
| Net cash (debt) | −$6.17B | −$7.16B | −$7.78B | −$7.19B | −$7.90B | −$9.22B | −$8.02B | −$7.66B | −$8.02B | −$8.39B | −$8.67B | −$7.63B |
| Working capital | −$7.22B | −$6.22B | −$7.06B | −$6.80B | −$7.29B | −$7.10B | −$7.60B | −$7.93B | −$7.73B | −$6.25B | −$7.00B | −$6.51B |
| Tangible book value | −$9.62B | −$9.75B | −$10.45B | −$10.06B | −$10.69B | −$11.22B | −$10.92B | −$11.27B | −$11.36B | −$10.94B | −$11.77B | −$11.25B |
| Book value per share | −$0.10 | −$0.16 | −$0.82 | −$0.36 | −$0.94 | −$1.33 | −$1.12 | −$1.34 | −$1.41 | −$0.93 | −$1.64 | −$1.06 |
| Shares outstanding | 927.0M | 925.0M | 932.0M | 948.0M | 954.0M | 956.0M | 957.0M | 989.0M | 990.0M | 990.0M | 1.00B | 1.00B |
| Current ratio | 0.79 | 0.79 | 0.76 | 0.77 | 0.74 | 0.73 | 0.72 | 0.72 | 0.71 | 0.75 | 0.71 | 0.73 |
| Quick ratio | 0.44 | 0.44 | 0.40 | 0.42 | 0.38 | 0.35 | 0.36 | 0.40 | 0.37 | 0.38 | 0.35 | 0.39 |
| Equity / assets | −0.2% | −0.3% | −1.8% | −0.8% | −2.3% | −3.3% | −2.8% | −3.3% | −3.7% | −2.4% | −4.6% | −2.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 10, 2025); data from EODHD.
HPQ financial position
At the end of fiscal 2025 (October 31, 2025), HP had total assets of $41.8 billion (up 4.7% from a year earlier), total liabilities of $42.1 billion and shareholders' equity of -$346.0 million. It held $3.7 billion in cash and short-term investments against $10.9 billion of debt, net debt of $7.2 billion. Its current ratio was 0.77. In the latest quarter (ended July 31, 2026) total assets were $45.7 billion and equity -$92.0 million.
Related: HPQ income statement, HPQ cash flow statement, HPQ key metrics. See the HPQ stock overview for the latest quote and news.
HPQ balance sheet FAQ
What are HP's total assets?
HP reported total assets of $41.8 billion at the end of fiscal 2025 (October 31, 2025), compared with $39.9 billion a year earlier.
How much debt does HP have?
HP had $10.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does HP have?
HP held $3.7 billion in cash and short-term investments at the end of fiscal 2025; with $10.9 billion of debt that is net debt of $7.2 billion.
What is HP's book value?
HP's shareholders' equity (book value) was -$346.0 million at the end of fiscal 2025, or −$0.36 per share.
What is HP's current ratio?
HP had current assets of $22.5 billion and current liabilities of $29.3 billion, a current ratio of 0.77 (current liabilities exceed current assets).
How much goodwill does HP have?
HP carried $9.7 billion of goodwill and intangible assets, 23.3% of total assets, at the end of fiscal 2025.