HPQ vs IBM
HP Inc. and International Business Machines Corporation, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | HPQ | IBM |
|---|---|---|
| Revenue | $55.3B | $67.5B |
| Net income | $2.5B | $10.6B |
| Gross margin | 20.6% | 58.2% |
| Net margin | 4.6% | 15.7% |
| Return on equity | 20.9% | 35.3% |
| Diluted EPS | $2.65 | $11.17 |
| Dividend / share | $1.16 | $6.71 |
| Payout ratio | 43.0% | 59.0% |
| Free cash flow | $2.8B | $12.1B |
| Equity | $-346.0M | $32.6B |
| Net debt / equity | −0.31× | 1.46× |
| Current ratio | 0.77× | 0.96× |
| Revenue CAGR 5y | −0.5% | 4.1% |
| Profit CAGR 5y | −2.1% | 13.6% |
IBM bills 1.2× the revenue of HPQ, and keeps more of each dollar of revenue as profit (15.7% against 4.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | HPQ | IBM |
|---|---|---|
| FY2025 | $55.3B | $67.5B |
| FY2024 | $53.6B | $62.8B |
| FY2023 | $53.7B | $61.9B |
| FY2022 | $62.9B | $60.5B |
| FY2021 | $63.5B | $57.4B |
| FY2020 | $56.6B | $55.2B |
| FY2019 | $58.8B | $57.7B |
| FY2018 | $58.5B | $79.6B |
| FY2017 | $52.1B | $79.1B |
| FY2016 | $48.2B | $79.9B |
Net income by year
Bottom line
| Fiscal year | HPQ | IBM |
|---|---|---|
| FY2025 | $2.5B | $10.6B |
| FY2024 | $2.8B | $6.0B |
| FY2023 | $3.3B | $7.5B |
| FY2022 | $3.1B | $1.6B |
| FY2021 | $6.5B | $5.7B |
| FY2020 | $2.8B | $5.6B |
| FY2019 | $3.2B | $9.4B |
| FY2018 | $5.3B | $8.7B |
| FY2017 | $2.5B | $5.8B |
| FY2016 | $2.5B | $11.9B |
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