HPQ HP INC

(NEW YORK STOCK EXCHANGE)

Date: 4 November 2016 Sector: Technology Industry: Computer Hardware

Business Summary
HP Inc. is a provider of personal computing and other access devices, imaging and printing prod-
ucts, and related technologies, solutions and services. The Company operates through three seg-
ments: Personal Systems, Printing and Corporate Investments. The Company's Personal Systems
segment provides commercial personal computers (PCs), consumer PCs, workstations, thin client HP Inc
PCs, tablets, retail point-of-sale (POS) systems, calculators and other related accessories, software, 1501 Page Mill Rd
support and services for the commercial and consumer markets. The Company's Printing segment PALO ALTO
provides consumer and commercial printer hardware, supplies, media, software and services, as CA 94304-1126
well as scanning devices. The Company's Corporate Investments segment includes HP Labs. It also United States
includes certain business incubation projects, among others. The Company sells to individual con-
Diana Sroka (IR Contact Officer)
sumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in
the government, health and education sectors.
http://www.hp.com/
Share Performance
Price ($): 14.54 52 Week High: 15.88 Currency: USD P/E: 7.04
Volume (millions): 15.7 52 Week Low: 8.91 Employees: 287,000
(Millions)
Market Cap: 24,876.13
Shares Outstanding: 1,710.88
Float: 1,706.07

Sa le s
115300
112300
109300
106300
103400
100400
Oct 1 3 Oct 1 4 Oct 1 5
($ Millions)

In co m e
5300
5110
4930

Financial Summary 4740

4550
BRIEF: For the nine months ended 31 July 2016, HP Inc revenues decreased 9% to $35.73B. Net
4370
income before extraordinary items decreased 2% to $2.15B. Revenues reflect Printing segment Oct 1 3 Oct 1 4 Oct 1 5
decrease of 16% to $13.7B, Personal Systems Group segment decrease of 8% to $21.97B, Corporate ($ Millions)
Investments segment decrease of 63% to $6M. Net income also reflects Printing segment income
decrease of 15% to $2.49B. Ea r n in gs p e r Sh a r e
4 .2 2
Valuation Ratios Per Share Data 3 .9 3
Price/Earnings (TTM) 7.04 Earnings (TTM) 2.07 3 .6 4
Price/Sales (TTM) 0.52 Sales (TTM) 27.18 3 .3 5
Price/Book (MRQ) -- Book Value (MRQ) (2.29) 3 .0 5
Price/Cashflow (TTM) 5.05 Cash Flow (TTM) 2.79 2 .7 6
Cash (MRQ) 4.20 Oct 1 3 Oct 1 4 Oct 1 5
($)

Profitability Ratios (%) Management Effectiveness (%)

Div id e n d s p e r Sh a r e
Gross Margin (TTM) 18.91 Return on Equity (TTM) 31.75 0 .7 2
Operating Margin (TTM) 7.68 Return on Assets (TTM) 5.46 0 .6 8
Net Profit Margin (TTM) 7.64 Return on Investment (TTM) 11.00
0 .6 4
0 .6
Financial Strength Dividend Information
0 .5 6
Quick Ratio (MRQ) 0.74 Dividend Yield (%) 3.41
0 .5 2
Current Ratio (MRQ) 0.96 Dividend per Share (MRQ) 0.25 Oct 1 3 Oct 1 4 Oct 1 5
LT Debt/Equity (MRQ) 0.00 Payout Ratio (MRQ) 50.74 ($)
Total Debt/Equity (MRQ) 0.00
TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim.
Latest fiscal year: 2015; Most recent quarter: 3; Fiscal year end month: October; 1
All Ratios are calculated for the latest fiscal year end unless otherwise indicated.
Data Source: Reuters Fundamentals
HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Key Ratios & Statistics

Financial Strength
12 Mo 12 Mo 12 Mo MRQ 3 Year
Financial Strength looks at business risk. The
Oct 13 Oct 14 Oct 15 Average stronger a company is from a financial standpoint,
Quick Ratio 0.88 0.92 1.01 0.74 0.94 the less risky it is. The Quick Ratio compares cash
Current Ratio 1.11 1.15 1.23 0.96 1.16 and short-term investments (investments that could
be converted to cash very quickly) to the financial
LT Debt/Equity 0.61 0.60 0.78 0.00 0.66
liabilities they expect to incur within a year's time.
Total Debt Equity 0.83 0.73 0.89 0.00 0.82

Cu r r e n t Ra t io
The Current Ratio compares year-ahead liabilities
1 .3 2 to cash on hand now plus other inflows (e.g. Ac-
1 .2 3 counts Receivable) the company is likely to realize
1 .1 4 over that same twelve-month period.
1 .0 5
Current Ratio 1.23
0 .9 6 Total Current Assets 51,787.00
0 .8 7 Total Current Liabilities 42,191.00
1 2 Mo 1 2 Mo 1 2 Mo MRQ 3 Ye a r
Oct 1 3 Oct 1 4 Oct 1 5 Av e r a ge
The Long Term Debt/Equity Ratio looks at the
Quick Ratio: Cash plus Short Term Investments plus Accounts Receivable divided by the Total Cur- company's capital base. A ratio of 1.00 means the
rent Liabilities for the same period. Current Ratio: Total Current Assets divided by Total Current company's long-term debt and equity are equal. The
Liabilities for the same period. Long Term Debt To Total Equity: Total Long Term Debt divided
by Total Shareholder Equity. Total Debt to Total Equity: Total Debt divided by Total Shareholder
Total Debt/Equity Ratio includes long-term debt
Equity for the same period. and short term debt.

Profitability
12 Mo 12 Mo 12 Mo TTM 3 Year
Oct 13 Oct 14 Oct 15 Average These ratios realize overall profitability, or the bot-
Gross Margin (%) 23.08 23.88 23.96 18.91 23.64 tom line.
Operating Margin (%) 6.35 6.45 5.29 7.68 6.03 Gross Margin (%) 23.96 (%)
Net Profit Margin (%) 4.55 4.50 4.41 7.64 4.49 Gross Profit 24,759.00
x 100 x 100
41.70 20.89 16.73 -- 26.44 Revenue 103,355.00
Interest Coverage

Gr o s s Ma r gin (%) Gross Margin shows the amount of revenue left over
2 5 .6 after deducting direct costs of producing the goods
2 4 .0 or services. Operating Profit and Operating Margin
2 2 .3 trace the progress revenue down to another impor-
2 0 .6 tant level. From gross profit, we now subtract indi-
rect costs, often referred to as overhead e.g. facili-
1 8 .9
ties and salaries associated with headquarters op-
1 7 .2
1 2 Mo 1 2 Mo 1 2 Mo TTM 3 Ye a r erations.
Oct 1 3 Oct 1 4 Oct 1 5 Av e r a ge

Gross Margin: This value measures the percent of revenue left after paying all direct production ex-
Finally, Profit Margin shows you how much of each
penses. It is calculated as Revenue minus the Cost of Goods Sold divided by the Revenue and multiplied revenue dollar is left after all costs, of any kind, are
by 100. Operating Margin: This value measures the percent of revenues remaining after paying all subtracted. These other costs include such items as
operating expenses. It is calculated as Operating Income divided by the Total Revenue, multiplied by interest on corporate debt and income taxes.
100. Net Profit Margin: Also known as Return on Sales, this value is the Income After Taxes divided
by Total Revenue for the same period and is expressed as a percentage. Interest Coverage: The
Operating Income divided by the company's interest obligations.

TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim.
Latest fiscal year: 2015; Most recent quarter: 3; Fiscal year end month: October;
All Ratios are calculated for the latest fiscal year end unless otherwise indicated.
Data Source: Reuters Fundamentals 2
HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Key Ratios & Statistics (cont.)

Management Effectiveness (%)

12 Mo 12 Mo 12 Mo TTM 3 Year
A company's ability to operate profitably can be
Oct 13 Oct 14 Oct 15 Average measured directly by measuring its return on assets.
Return on Equity % 20.57 18.57 16.71 31.75 18.62 ROA (Return On Assets) is the ratio of a company's
Return on Assets % 4.77 4.80 4.34 5.46 4.64 net profit to its total assets, expressed as a percent-
age.
Return on Investments % 8.36 8.38 7.34 11.00 8.03
Return on Assets (%) 4.34 (%)
Re t u r n o n As s e t s %
Income After Taxes 4,554.00
5 .8 3 x 100 x 100
Average Total Assets 105,044.00
5 .4 6
5 .0 9
ROA measures how well a company's management
4 .7 1 uses its assets to generate profits. It is a better mea-
4 .3 4 sure of operating efficiency than ROE, which on-
3 .9 7 ly measures how much profit is generated on the
1 2 Mo 1 2 Mo 1 2 Mo TTM 3 Ye a r
Oct 1 3 Oct 1 4 Oct 1 5 Av e r a ge shareholders equity but ignores debt funding. This
ratio is particularly relevant for banks which typi-
Return On Equity: Income Available to Common Stockholders divided by the Common Equity and cally have huge assets.
expressed as a percentage. Return on Assets: This value is the Income After Taxes divided by the
Average Total Assets, expressed as a percentage. Return on Investments: Income after taxes divided
by the average total long term debt, other long term liabilities and shareholders equity, and expressed
as a percentage.

Dividend Information
12 Mo 12 Mo 12 Mo MRQ 3 Year
Oct 13 Oct 14 Oct 15 Average The annual dividend is the total amount($) of div-
Payout Ratio (%) 21.18 22.90 27.09 50.74 23.72 idends you could expect to receive if you held
the stock for a year (assuming no change in the
Dividend Per Share 0.56 0.61 0.68 0.25 0.62
company's dividend policy).
Pa y o u t Ra t io (%)
61 Payout Ratio (%) 27.09 (%)
Dividend Per Share 0.68
51 x 100 x 100
Primary EPS 2.51
41
31 The dividend yield is the indicated annual dividend
21 rate expressed as a percentage of the price of the
11 stock, and could be compared to the coupon yield on
1 2 Mo 1 2 Mo 1 2 Mo MRQ 3 Ye a r
Oct 1 3 Oct 1 4 Oct 1 5 Av e r a ge a bond. The Payout Ratio tells you what percent of
the company's earnings have been given to share-
Dividend Per Share: Common Stock Cash Dividends divided by the shares outstanding. Payout Ratio: holders as cash dividends. A low payout ratio indi-
This ratio is the percentage of the Primary/Basic Earnings Per Share Excluding Extraordinary Items cates that company has chosen to reinvest most of
paid to common stockholders in the form of cash dividends. the profits back into the business.

TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim.
Latest fiscal year: 2015; Most recent quarter: 3; Fiscal year end month: October;
All Ratios are calculated for the latest fiscal year end unless otherwise indicated.
Data Source: Reuters Fundamentals 3
HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Key Ratios & Statistics (cont.)

Per Share Data

12 Mo 12 Mo 12 Mo TTM 3 Year
The most important Per-Share Data item is Earn-
Oct 13 Oct 14 Oct 15 Growth ings Per Share. That's because ultimately, the price
Earning Per Share 2.62 2.62 2.48 2.07 of your stock is related in some way to the value of
Sales Per Share 57.59 58.29 56.29 27.18 (0.03) the stream of earnings attributable to that share.
Book Value 14.29 14.54 15.39 (2.29) 0.10
Earnings Per Share 2.48
Cash Flow 2.62 2.62 2.48 2.79 Adjusted Income Avail. to Common Shareholders 4,554.00
Cash Per Share 6.37 8.23 9.66 4.20 0.19 Diluted Weighted Average Shares 1,836.00

Ea r n in gs Pe r Sh a r e This section also includes the amount of Cash Per

2 .8 Share the company had at the time of its most re-
2 .6 2 cent quarterly or annual report. Most of the time,
2 .4 4 this number will be far below the stock price. In
2 .2 5 a healthy industrial company, a Cash Per Share
2 .0 7
figure that is close the stock price might suggest
that investors are underestimating the worth of the
1 .8 9
1 2 Mo 1 2 Mo 1 2 Mo TTM company's ongoing business, thereby creating an
Oct 1 3 Oct 1 4 Oct 1 5 interesting investment opportunity for you.
EPS Excluding Extraordinary Items: This is the adjusted income available to Common divided by
the diluted weighted average shares outstanding. Sales (Revenue) Per Share: Total Revenue divided
by the Average Diluted Shares Outstanding. Book Value Per Share: This is defined as the Common
Shareholder's Equity divided by the Shares Outstanding. Cash Flow: Cash Flow is defined as the sum
of Income After Taxes minus Preferred Dividends and General Partner Distributions plus Deprecia-
tion, Depletion and Amortization. Cash Per Share: This is the Total Cash plus Short Term Invest-
ments divided by the Shares Outstanding.

TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim.
Latest fiscal year: 2015; Most recent quarter: 3; Fiscal year end month: October;
All Ratios are calculated for the latest fiscal year end unless otherwise indicated.
Data Source: Reuters Fundamentals 4
HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Consensus Estimates

Analyst Recommendations Current As of 1 As of 4 As of 8 As of 13

Week Ago Weeks Ago Weeks Ago Weeks Ago Consensus Recommendation
& Revisions
OUTPERFORM
Buy 7 7 7 7 8
Outperform 3 3 2 2 3
Company Fiscal Year End Month
Hold 13 14 14 14 13
October
Underperform 1 1 1 1 1
Strong Sell 0 0 0 0 0
Last Updated
Mean Rating 2.3 2.4 2.4 2.4 2.3 4 November 2016

Consensus Estimate Trends Current As of 1 As of 4 As of 8 As of 13

Week Ago Weeks Ago Weeks Ago Weeks Ago Sa le s
Sales (Millions) 54200

Year Ending Oct 16 47,621.2 47,621.2 47,587.6 47,562.7 46,966.8 52200

Year Ending Oct 17 45,977.3 45,977.3 45,861.1 45,799.6 45,351.9 50100

Quarter Ending Apr 17 11,182.4 11,182.4 11,166.4 11,166.6 11,183.3 48000

Quarter Ending Jul 17 11,453.6 11,453.6 11,450.6 11,444.9 11,130.1 46000

43900
Earnings (Per share) Oct 1 5 Oct 1 6 Oct 1 7
Year Ending Oct 16 1.6 1.6 1.6 1.6 1.6
($ Millions)
Year Ending Oct 17 1.6 1.6 1.6 1.6 1.6
Quarter Ending Jul 17 0.4 0.4 0.4 0.4 0.4 Ea r n in gs p e r Sh a r e
Quarter Ending Oct 17 0.4 0.4 0.4 0.4 0.4 1 .6 0 8 7
1 .6 0 7 1
1 .6 0 5 5
No. of Mean High Low 1 .6 0 3 8
Consensus Estimate Analysis
Estimates Estimate Estimate Estimate 1 .6 0 2 2
Sales (Millions) 1 .6 0 0 6
Year Ending Oct 16 21 47,621.2 48,080.0 47,253.0 Oct 1 6 Oct 1 7
Year Ending Oct 17 21 45,977.3 48,000.0 44,359.0 ($)

Quarter Ending Apr 17 15 11,182.4 11,587.0 10,881.0

Quarter Ending Jul 17 15 11,453.6 11,858.6 10,998.0
Earnings (Per share)
Year Ending Oct 16 22 1.6 1.6 1.6
Year Ending Oct 17 22 1.6 1.7 1.4
Quarter Ending Jul 17 18 0.4 0.5 0.3
Quarter Ending Oct 17 14 0.4 0.4 0.3
LT Growth Rate 2 2.8 4.1 1.5

Quarter Historical Surprises Estimate Actual Difference Surprise (%)

Sales (Millions)
July 2016 11,461.30 11,892.00 430.68 3.76
April 2016 11,717.80 11,588.00 129.84 1.11
January 2016 12,196.50 12,246.00 49.54 0.41
October 2015 12,857.20 12,266.00 591.22 4.60
Earnings (Per share)
July 2016 0.44 0.48 0.04 8.33
April 2016 0.38 0.41 0.03 8.38
January 2016 0.36 0.36 0.00 0.11
October 2015 0.45 0.30 0.15 33.07

Data Source: Reuters Fundamentals 5

HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Annual Income Statement

Type of Update UPD UPD UPD T o t a l Re v e n u e
115300
($ Millions) ($ Millions) ($ Millions)
12Months 12Months 12Months 112300
31 Oct 13 31 Oct 14 31 Oct 15 109300
Total Revenue 112,298.0 111,454.0 103,355.0 106300
Cost of Revenue,Total 86,380.0 84,839.0 78,596.0
103400
Gross Profit 25,918.0 26,615.0 24,759.0
100400
Selling/General/Admin.Expenses 13,267.0 13,353.0 12,185.0 Oct 1 3 Oct 1 4 Oct 1 5
Research & Development 3,135.0 3,447.0 3,502.0 ($ Millions)
Depreciation/Amortization 1,373.0 1,000.0 931.0
Interest Expense/Income Net Op. -- -- -- Gr o s s Pr o fit
Unusual Income/Expense 1,012.0 1,630.0 2,670.0 27200

Other Operating Expenses,Total -- -- -- 26600

Total Operating Expense 105,167.0 104,269.0 97,884.0 26000

Operating Income 7,131.0 7,185.0 5,471.0 25400
Interest Expense/Income Net Non Op. -- (339.0) (783.0) 24800
Gain/(Loss) on Sale of Assets -- -- -- 24100
Oct 1 3 Oct 1 4 Oct 1 5
Other, Net -- -- --
($ Millions)
Income Before Tax 6,510.0 6,557.0 4,732.0
Income Tax - Total 1,397.0 1,544.0 178.0
Op e r a t in g In co m e
Income After Tax 5,113.0 5,013.0 4,554.0 7800
Minority Interest -- -- -- 7200
Equity In Affiliates -- -- --
6600
U.S. GAAP Adjustment -- -- --
6000
Net Income Before Extra. Items 5,113.0 5,013.0 4,554.0
5500
Accounting Change -- -- --
4900
Discontinued Operations -- -- -- Oct 1 3 Oct 1 4 Oct 1 5
Extraodinary Item -- -- -- ($ Millions)
Tax on Extraordinary Items -- -- --
Net Income 5,113.0 5,013.0 4,554.0 Ne t In co m e
Preferred Dividends -- -- -- 5300
General Partner's Distributions -- -- -- 5110
Inc. Avail. to Common Excl. Extra. Items 5,113.0 5,013.0 4,554.0 4930
Inc. Avail. to Common Incl. Extra. Items 5,113.0 5,013.0 4,554.0 4740
Basic Weighted Average Shares 1,934.0 1,882.0 1,814.0 4550
Basic EPS Excl. Extra. Items 2.644 2.664 2.510 4370
Basic EPS Incl. Extra. Items 2.644 2.664 2.510 Oct 1 3 Oct 1 4 Oct 1 5

Dilution Adjustment -- -- -- ($ Millions)

Diluted Net Income 5,113.000 5,013.000 4,554.000

Dilu t e d No r m a liz e d EPS
Diluted Weighted Average Shares 1,950.000 1,912.000 1,836.000 4 .1 6
Diluted EPS Excl. Extra. Items 2.622 2.622 2.480
3 .8 8
Diluted EPS Incl. Extra. Items 2.622 2.622 2.480
3 .6
Div's per Share - Common Stock 0.560 0.610 0.680
3 .3 1
Gross Dividends - Common Stock 1,074.000 1,151.000 1,219.000
3 .0 3
Interest Expense, Supplemental 769.000 665.000 592.000
2 .7 5
Interest Capitalized, Supplemental -- -- -- Oct 1 3 Oct 1 4 Oct 1 5
Depreciation, Supplemental 3,200.000 3,300.000 3,100.000
($ Millions)
Total Special Items 1,012.000 1,630.000 2,670.000
Normalized Income Before Tax 7,522.000 8,187.000 7,402.000
Effect of Special Items on Inc. Taxes 217.168 383.822 100.435
Inc. Taxes Excl. Impact Special Items 1,614.170 1,927.820 278.435
Normalized Income After Tax 5,907.830 6,259.180 7,123.560
Normalized Income Available to Common 5,907.830 6,259.180 7,123.560
Basic Normalized EPS 3.055 3.326 3.927
Diluted Normalized EPS 3.030 3.274 3.880
Auditor EY EY EY
Auditor Opinion UNO UNO UNO
Source Document 10-K 10-K 10-K

Data Source: Reuters Fundamentals 6

HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Annual Balance Sheet

Type of Update UPD UPD UPD Ca s h & Sh o r t T e r m In v e s t m e n t s
19200
($ Millions) ($ Millions) ($ Millions)
31 Oct 13 31 Oct 14 31 Oct 15 17400
Cash -- -- -- 15700
Cash and Equivalents 12,163.0 15,133.0 17,433.0 13900
Short Term Investments -- -- -- 12200
Cash and Short Term Investments 12,163.0 15,133.0 17,433.0 10400
Accounts Receivable(Trade), Net 19,020.0 16,778.0 16,281.0 Oct 1 3 Oct 1 4 Oct 1 5
Notes Receivable - Short Term -- -- -- ($ Millions)

Other Receivables 5,004.0 4,547.0 5,230.0

Total Receivables, Net 24,024.0 21,325.0 21,511.0 T o t a l Cu r r e n t As s e t s
52300
Total Inventory 6,046.0 6,415.0 6,485.0
51800
Prepaid Expenses -- -- --
51200
Other Current Assets 8,131.0 7,272.0 6,358.0
50700
Total Current Assets 50,364.0 50,145.0 51,787.0
50100
Property/Plant/Equipment - Gross 26,133.0 26,252.0 26,475.0
Accumulated Depreciation (14,670.0) (14,912.0) (15,385.0) 49600
Oct 1 3 Oct 1 4 Oct 1 5
Property/Plant/Equip., Net 11,463.0 11,340.0 11,090.0
($ Millions)
Goodwill, Net 31,124.0 31,139.0 32,941.0
Intangibles, Net 3,169.0 2,128.0 2,014.0 T o t a l De b t
Long Term Investments -- -- -- 26400
Note Receivable - Long Term 3,878.0 3,613.0 3,676.0 24700
Other Long Term Assets, Total 5,678.0 4,841.0 5,374.0 23000
Other Assets, Total -- -- -- 21200
Total Assets 105,676.0 103,206.0 106,882.0 19500
Accounts Payable 14,019.0 15,903.0 15,956.0 17800
Payable/Accrued -- -- -- Oct 1 3 Oct 1 4 Oct 1 5
Accrued Expenses 17,406.0 16,963.0 16,034.0 ($ Millions)

Notes Payable/Short Term Debt 753.0 831.0 564.0

Current Port. LT Debt/Capital Leases 5,226.0 2,655.0 2,321.0 T o t a l Eq u it y
28110
Other Current Liabilities, Total 8,117.0 7,383.0 7,316.0
27770
Total Current Liabilities 45,521.0 43,735.0 42,191.0
27420
Long Term Debt 16,608.0 16,039.0 21,780.0
27080
Capital Lease Obligations -- -- --
Total Long Term Debt 16,608.0 16,039.0 21,780.0 26730

Total Debt 22,587.0 19,525.0 24,665.0 26390

Oct 1 3 Oct 1 4 Oct 1 5
Deferred Income Tax 2,668.0 1,124.0 295.0
($ Millions)
Minority Interest 387.0 396.0 383.0
Other Liabilities, Total 13,223.0 15,181.0 14,465.0
T o t a l Co m m o n Sh a r e s Ou t s t a n d in g
Total Liabilities 78,407.0 76,475.0 79,114.0 1943
Redeemable Preferred Stock -- -- -- 1908
Preferred Stock(Non Redeemable), Net -- 0.0 0.0 1873
Common Stock 19.0 18.0 18.0 1839
Additional Paid-In Capital 5,465.0 3,430.0 1,963.0 1804
Retained Earnings/Accum. Deficit 25,563.0 29,164.0 32,089.0 1769
Treasury Stock - Common -- -- -- Oct 1 3 Oct 1 4 Oct 1 5
ESOP Debt Guarantee -- -- -- ($ Millions)

Unrealized Gain/Loss (112.0) 189.0 27.0

Other Equity, Total (3,666.0) (6,070.0) (6,329.0)
Total Equity 27,269.0 26,731.0 27,768.0
Total Liability & Shareholders' Equity 105,676.0 103,206.0 106,882.0
Total Common Shares Outstanding 1,908.0 1,839.0 1,804.0
Total Preferred Stock Shares Outs. -- -- --
Auditor EY EY EY
Auditor Opinion UNO UNO UNO
Source Document 10-K 10-K 10-K

Data Source: Reuters Fundamentals 7

HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Annual Cash Flow Statement

Type of Update UPD UPD UPD T o t a l Ca s h fr o m Op e r a t in g Act iv it ie s
14300
($ Millions) ($ Millions) ($ Millions)
12Months 12Months 12Months 12300
31 Oct 13 31 Oct 14 31 Oct 15 10400
Net Income/Starting Line 5,113.0 5,013.0 4,554.0 8400
Depreciation/Depletion 4,611.0 4,334.0 4,061.0
6500
Amortization -- -- --
4500
Deferred Taxes (410.0) (34.0) (700.0) Oct 1 3 Oct 1 4 Oct 1 5
Non-Cash Items 2,267.0 2,468.0 2,988.0 ($ Millions)
Cash Receipts -- -- --
Cash Payments -- -- -- Ca p it a l Ex p e n d it u r e s
Cash Taxes Paied 1,391.0 1,267.0 1,012.0 - 2980

Cash Interest Paid 837.0 678.0 532.0 - 3200

Changes in Working Capital 27.0 552.0 (4,413.0) - 3420

Total Cash from Operating Activities 11,608.0 12,333.0 6,490.0 - 3630
Capital Expenditures (3,199.0) (3,853.0) (3,603.0) - 3850
Other Investing Cash Flow Items, Total 396.0 1,061.0 (1,931.0) - 4070
Oct 1 3 Oct 1 4 Oct 1 5
Total Cash from Investing Activities (2,803.0) (2,792.0) (5,534.0)
($ Millions)
Financing Cash Flow Items 2.0 58.0 141.0
Total Cash Dividends Paid (1,105.0) (1,184.0) (1,250.0)
Is s u e o f St o ck
Insurance/Retirement of Stock, Net (1,244.0) (2,431.0) (2,512.0) - 820
Insurance/Retirement of Debt, Net (5,596.0) (3,014.0) 4,965.0 - 1240
Total Cash from Financing Activities (7,943.0) (6,571.0) 1,344.0
- 1670
Foreign Exchange Effects -- -- --
- 2090
Net Change in Cash 862.0 2,970.0 2,300.0
- 2510
Depreciation, Supplemental 4,611.0 4,334.0 4,061.0
- 2930
Cash Interest Paid, Supplemental 837.0 678.0 532.0 Oct 1 3 Oct 1 4 Oct 1 5
Cash Taxes Paid, Supplemental 1,391.0 1,267.0 1,012.0 ($ Millions)
Auditor EY EY EY
Auditor Opinion UNO UNO UNO Is s u e o f De b t
Source Document 10-K 10-K 10-K 8500
5000
1400
- 2100
- 5600
- 9100
Oct 1 3 Oct 1 4 Oct 1 5
($ Millions)

Ne t Ch a n ge in Ca s h
3700
3000
2300
1600
900
200
Oct 1 3 Oct 1 4 Oct 1 5
($ Millions)

Data Source: Reuters Fundamentals 8

HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Quarterly Income Statement

Type of Update UPD UCA UPD UPD UPD T o t a l Re v e n u e
30400
($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions)
3Months 3Months 3Months 3Months 3Months 25700
31 Jul 15 31 Oct 15 31 Jan 16 30 Apr 16 31 Jul 16 21000
Total Revenue 25,349.0 25,714.0 12,246.0 11,588.0 11,892.0 16300
Cost of Revenue,Total 19,317.0 19,363.0 9,961.0 9,338.0 9,720.0
11600
Gross Profit 6,032.0 6,351.0 2,285.0 2,250.0 2,172.0
6900
Selling/General/Admin.Expenses 2,962.0 3,089.0 1,037.0 1,002.0 719.0 Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Research & Development 893.0 934.0 292.0 301.0 298.0 ($ Millions)
Depreciation/Amortization 242.0 246.0 8.0 6.0 2.0
Interest Expense/Income Net Op. -- -- -- -- -- Gr o s s Pr o fit
Unusual Income/Expense 723.0 1,174.0 20.0 100.0 36.0 7700

Other Operating Expenses,Total -- -- -- -- -- 6400

Total Operating Expense 24,137.0 24,806.0 11,318.0 10,747.0 10,775.0 5000

Operating Income 1,212.0 908.0 928.0 841.0 1,117.0 3600
Interest Expense/Income Net Non Op. 75.0 (879.0) (107.0) 17.0 (26.0) 2200
Gain/(Loss) on Sale of Assets -- -- -- -- -- 800
Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Other, Net -- -- -- -- --
($ Millions)
Income Before Tax 1,104.0 590.0 834.0 836.0 1,081.0
Income Tax - Total 250.0 (733.0) 184.0 176.0 238.0
Op e r a t in g In co m e
Income After Tax 854.0 1,323.0 650.0 660.0 843.0 1340
Minority Interest -- -- -- -- -- 1210
Equity In Affiliates -- -- -- -- --
1090
U.S. GAAP Adjustment -- -- -- -- --
960
Net Income Before Extra. Items 854.0 1,323.0 650.0 660.0 843.0
840
Accounting Change -- -- -- -- --
720
Discontinued Operations -- -- (58.0) (31.0) (60.0) Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Extraodinary Item -- -- -- -- -- ($ Millions)
Tax on Extraordinary Items -- -- -- -- --
Net Income 854.0 1,323.0 592.0 629.0 783.0 Ne t In co m e
Preferred Dividends -- -- -- -- -- 1570
General Partner's Distributions -- -- -- -- -- 1320
Inc. Avail. to Common Excl. Extra. Items 854.0 1,323.0 650.0 660.0 843.0 1080
Inc. Avail. to Common Incl. Extra. Items 854.0 1,323.0 592.0 629.0 783.0 840
Basic Weighted Average Shares 1,805.0 1,805.0 1,776.0 1,720.0 1,711.0 590
Basic EPS Excl. Extra. Items 0.473 0.733 0.366 0.384 0.493 350
Basic EPS Incl. Extra. Items 0.473 0.733 0.333 0.366 0.458 Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6

Dilution Adjustment -- -- -- -- -- ($ Millions)

Diluted Net Income 854.000 1,323.000 592.000 629.000 783.000

Dilu t e d No r m a liz e d EPS
Diluted Weighted Average Shares 1,828.000 1,818.000 1,785.000 1,731.000 1,725.000 1 .4 1
Diluted EPS Excl. Extra. Items 0.467 0.728 0.364 0.381 0.489
1 .1 5
Diluted EPS Incl. Extra. Items 0.467 0.728 0.332 0.363 0.454
0 .8 9
Div's per Share - Common Stock 0.350 0.180 0.250 0.000 0.250
0 .6 3
Gross Dividends - Common Stock 318.000 306.000 437.000 0.000 --
0 .3 7
Interest Expense, Supplemental 82.000 103.000 -- -- --
0 .1 1
Interest Capitalized, Supplemental -- -- -- -- -- Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Depreciation, Supplemental 781.000 761.000 71.000 79.000 83.000
($ Millions)
Total Special Items 723.000 1,174.000 20.000 100.000 36.000
Normalized Income Before Tax 1,827.000 1,764.000 854.000 936.000 1,117.000
Effect of Special Items on Inc. Taxes 163.723 410.900 4.412 21.053 7.926
Inc. Taxes Excl. Impact Special Items -- -- -- -- --
Normalized Income After Tax 1,413.280 2,086.100 665.588 738.947 871.074
Normalized Income Available to Common 1,413.280 2,086.100 665.588 738.947 871.074
Basic Normalized EPS 0.783 1.156 0.375 0.430 0.509
Diluted Normalized EPS 0.773 1.147 0.373 0.427 0.505
Source Document 10-Q 10-K 10-Q 10-Q 10-Q
Fiscal Period 3 4 1 2 3

Data Source: Reuters Fundamentals 9

HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Quarterly Balance Sheet

Type of Update UPD UPD UPD UPD UPD Ca s h & Sh o r t T e r m In v e s t m e n t s
21800
($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions)
31 Jul 15 31 Oct 15 31 Jan 16 30 Apr 16 31 Jul 16 17400
Cash -- -- -- -- -- 13100
Cash and Equivalents 17,171.0 17,433.0 3,688.0 4,636.0 5,636.0 8700
Short Term Investments -- -- -- -- -- 4400
Cash and Short Term Investments 17,171.0 17,433.0 3,688.0 4,636.0 5,636.0 0
Accounts Receivable(Trade), Net 15,557.0 16,281.0 4,114.0 3,884.0 4,008.0 Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Notes Receivable - Short Term -- -- -- -- -- ($ Millions)

Other Receivables -- 5,230.0 1,982.0 2,237.0 2,527.0

Total Receivables, Net 15,557.0 21,511.0 6,096.0 6,121.0 6,535.0 T o t a l Cu r r e n t As s e t s
64000
Total Inventory 6,700.0 6,485.0 4,052.0 3,547.0 3,961.0
52000
Prepaid Expenses -- -- -- -- --
40000
Other Current Assets 12,570.0 6,358.0 1,319.0 1,081.0 1,270.0
27000
Total Current Assets 51,998.0 51,787.0 15,155.0 15,385.0 17,402.0
15000
Property/Plant/Equipment - Gross 26,478.0 26,475.0 5,819.0 5,932.0 6,012.0
Accumulated Depreciation (15,450.0) (15,385.0) (4,290.0) (4,360.0) (4,405.0) 3000
Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Property/Plant/Equip., Net 11,028.0 11,090.0 1,529.0 1,572.0 1,607.0
($ Millions)
Goodwill, Net 33,025.0 32,941.0 5,680.0 5,672.0 5,618.0
Intangibles, Net 2,249.0 2,014.0 -- -- -- T o t a l De b t
Long Term Investments -- -- -- -- -- 32000
Note Receivable - Long Term 8,265.0 3,676.0 -- -- -- 26000
Other Long Term Assets, Total 468.0 5,374.0 3,153.0 2,894.0 2,597.0 19000
Other Assets, Total -- -- -- -- -- 13000
Total Assets 107,033.0 106,882.0 25,517.0 25,523.0 27,224.0 7000
Accounts Payable 15,549.0 15,956.0 9,041.0 9,099.0 10,402.0 0
Payable/Accrued -- -- -- -- -- Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Accrued Expenses 15,236.0 16,034.0 6,461.0 6,359.0 6,443.0 ($ Millions)

Notes Payable/Short Term Debt 8,099.0 564.0 29.0 35.0 34.0

Current Port. LT Debt/Capital Leases 2,935.0 2,321.0 20.0 29.0 41.0 T o t a l Eq u it y
39000
Other Current Liabilities, Total 7,214.0 7,316.0 1,210.0 1,340.0 1,194.0
28000
Total Current Liabilities 49,033.0 42,191.0 16,761.0 16,862.0 18,114.0
17000
Long Term Debt 14,468.0 21,780.0 6,683.0 6,708.0 6,760.0
6000
Capital Lease Obligations -- -- -- -- --
Total Long Term Debt 14,468.0 21,780.0 6,683.0 6,708.0 6,760.0 - 5000

Total Debt 25,502.0 24,665.0 6,732.0 6,772.0 6,835.0 - 16000

Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Deferred Income Tax 2,965.0 295.0 1,977.0 1,793.0 1,594.0
($ Millions)
Minority Interest 408.0 383.0 0.0 0.0 0.0
Other Liabilities, Total 13,124.0 14,465.0 5,005.0 4,946.0 4,682.0
T o t a l Co m m o n Sh a r e s Ou t s t a n d in g
Total Liabilities 79,998.0 79,114.0 30,426.0 30,309.0 31,150.0 1835
Redeemable Preferred Stock -- -- -- -- -- 1804
Preferred Stock(Non Redeemable), Net 0.0 0.0 0.0 0.0 0.0 1773
Common Stock 18.0 18.0 17.0 17.0 17.0 1742
Additional Paid-In Capital 2,101.0 1,963.0 1,222.0 967.0 986.0 1711
Retained Earnings/Accum. Deficit 30,764.0 32,089.0 (5,026.0) (4,504.0) (3,982.0) 1680
Treasury Stock - Common -- -- -- -- -- Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
ESOP Debt Guarantee -- -- -- -- -- ($ Millions)

Unrealized Gain/Loss 69.0 27.0 (6.0) (157.0) 153.0

Other Equity, Total (5,917.0) (6,329.0) (1,116.0) (1,109.0) (1,100.0)
Total Equity 27,035.0 27,768.0 (4,909.0) (4,786.0) (3,926.0)
Total Liability & Shareholders' Equity 107,033.0 106,882.0 25,517.0 25,523.0 27,224.0
Total Common Shares Outstanding 1,801.0 1,804.0 1,737.0 1,711.0 1,711.0
Total Preferred Stock Shares Outs. -- -- -- -- --
Source Document 10-Q 10-K 10-Q 10-Q 10-Q
Fiscal Period 3 4 1 2 3

Data Source: Reuters Fundamentals 10

HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Quarterly Cash Flow Statement

Type of Update UPD UPD UPD UPD UPD T o t a l Op e r a t in g Act iv it ie s
8700
($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions)
9Months 12Months 3Months 6Months 9Months 6500
31 Jul 15 31 Oct 15 31 Jan 16 30 Apr 16 31 Jul 16 4300
Net Income/Starting Line 3,231.0 4,554.0 592.0 1,221.0 2,004.0 2100
Depreciation/Depletion 3,054.0 4,061.0 79.0 164.0 249.0
- 100
Amortization -- -- -- -- --
- 2300
Deferred Taxes 898.0 (700.0) 526.0 600.0 978.0 Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Non-Cash Items 1,718.0 2,988.0 107.0 169.0 (8.0) ($ Millions)
Cash Receipts -- -- -- -- --
Cash Payments -- -- -- -- -- Ca p it a l Ex p e n d it u r e s
Cash Taxes Paied -- -- -- -- -- 1000

Cash Interest Paid -- -- -- -- -- - 100

Changes in Working Capital (5,020.0) (4,413.0) (1,412.0) (687.0) (691.0) - 1300

Total Cash from Operating Activities 3,881.0 6,490.0 (108.0) 1,467.0 2,532.0 - 2400
Capital Expenditures (2,642.0) (3,603.0) (120.0) (206.0) (287.0) - 3600
Other Investing Cash Flow Items, Total (2,085.0) (1,931.0) 9.0 (49.0) 171.0 - 4800
Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Total Cash from Investing Activities (4,727.0) (5,534.0) (111.0) (255.0) (116.0)
($ Millions)
Financing Cash Flow Items 92.0 141.0 (10,385.0) (10,367.0) (10,367.0)
Total Cash Dividends Paid (913.0) (1,250.0) (221.0) (434.0) (646.0)
Is s u e o f St o ck
Insurance/Retirement of Stock, Net (2,279.0) (2,512.0) (795.0) (1,093.0) (1,118.0) - 200
Insurance/Retirement of Debt, Net 5,984.0 4,965.0 (2,125.0) (2,115.0) (2,082.0) - 800
Total Cash from Financing Activities -- -- -- -- --
- 1400
Foreign Exchange Effects -- -- -- -- --
- 1900
Net Change in Cash 2,038.0 2,300.0 (13,745.0) (12,797.0) (11,797.0)
- 2500
Depreciation, Supplemental 3,054.0 4,061.0 79.0 164.0 249.0
- 3100
Cash Interest Paid, Supplemental -- -- -- -- -- Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
Cash Taxes Paid, Supplemental -- -- -- -- -- ($ Millions)
Source Document 10-Q 10-K 10-Q 10-Q 10-Q
Fiscal Period 3 4 1 2 3 Is s u e o f De b t
8700
6000
3300
600
- 2100
- 4800
Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
($ Millions)

Ne t Ch a n ge in Ca s h
8000
2000
- 3000
- 8000
- 14000
- 19000
Ju l 1 5 Oct 1 5 Ja n 1 6 Ap r 1 6 Ju l 1 6
($ Millions)

Data Source: Reuters Fundamentals 11

HPQ HP INC
(NEW YORK STOCK EXCHANGE)

Further Information

Internet Information
Home Page: http://www.hp.com/

Officers
Dion Weisler President, Chief Executive Officer, Director
Catherine Lesjak Chief Financial Officer
Ron Coughlin President, Personal Systems
Enrique Lores President, Printing, Solutions and Services business
Jon Flaxman Chief Operating Officer
Tracy Keogh Chief Human Resource Officer
Kim Rivera General Counsel, Chief Legal Officer
Marie Myers Global Controller and Head of Finance Services
Robert Binns Head of Global Treasury and Investor Relations
Aida Alvarez Director
Carl Bass Director
Chip Bergh Director
Mary Citrino Independent Director
Subra Suresh Director
Shumeet Banerji Independent Director
Robert Bennett Independent Director
Stacy Brown-Philpot Independent Director
Stephanie Burns Independent Director
Rajiv Gupta Independent Director
Stacey Mobley Independent Director

HP Inc Group Headquarters: 1501 Page Mill Rd, PALO ALTO, CA 94304-1126, United States, Diana Sroka (IR Contact Officer)

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Data Source: Reuters Fundamentals 12