Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

HP Inc. (NYSE:HPQ)

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Adjusted Financial Ratios

Advanced level


Adjusted Financial Ratios (Summary)

HP Inc., adjusted financial ratios

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Activity Ratio
Total Asset Turnover
Reported
Adjusted
Liquidity Ratio
Current Ratio
Reported
Adjusted
Solvency Ratios
Debt to Equity
Reported
Adjusted
Debt to Capital
Reported
Adjusted
Financial Leverage
Reported
Adjusted
Profitability Ratios
Net Profit Margin
Reported
Adjusted
Return on Equity (ROE)
Reported
Adjusted
Return on Assets (ROA)
Reported
Adjusted

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. HP Inc.’s adjusted total asset turnover ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. HP Inc.’s adjusted current ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. HP Inc.’s adjusted debt-to-equity ratio deteriorated from 2016 to 2017 and from 2017 to 2018.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. HP Inc.’s adjusted debt-to-capital ratio improved from 2016 to 2017 but then slightly deteriorated from 2017 to 2018.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
HP Inc.’s adjusted financial leverage ratio increased from 2016 to 2017 and from 2017 to 2018.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. HP Inc.’s adjusted net profit margin ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. HP Inc.’s adjusted ROE improved from 2016 to 2017 and from 2017 to 2018.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. HP Inc.’s adjusted ROA deteriorated from 2016 to 2017 and from 2017 to 2018.

HP Inc., Financial Ratios: Reported vs. Adjusted


Adjusted Total Asset Turnover

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Activity Ratio
Total asset turnover1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net revenue2
Adjusted total assets3
Activity Ratio
Adjusted total asset turnover4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
Total asset turnover = Net revenue ÷ Total assets
= ÷ =

2 Adjusted net revenue. See details »

3 Adjusted total assets. See details »

4 2018 Calculation
Adjusted total asset turnover = Adjusted net revenue ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. HP Inc.’s adjusted total asset turnover ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level.

Adjusted Current Ratio

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Current assets
Current liabilities
Liquidity Ratio
Current ratio1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2
Adjusted current liabilities3
Liquidity Ratio
Adjusted current ratio4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2018 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. HP Inc.’s adjusted current ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.

Adjusted Debt to Equity

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Total debt
Total HP stockholders’ equity (deficit)
Solvency Ratio
Debt to equity1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2
Adjusted total stockholders’ equity (deficit)3
Solvency Ratio
Adjusted debt to equity4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
Debt to equity = Total debt ÷ Total HP stockholders’ equity (deficit)
= ÷ =

2 Adjusted total debt. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2018 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity (deficit)
= ÷ =

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. HP Inc.’s adjusted debt-to-equity ratio deteriorated from 2016 to 2017 and from 2017 to 2018.

Adjusted Debt to Capital

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Total debt
Total capital
Solvency Ratio
Debt to capital1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2
Adjusted total capital3
Solvency Ratio
Adjusted debt to capital4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2018 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= ÷ =

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. HP Inc.’s adjusted debt-to-capital ratio improved from 2016 to 2017 but then slightly deteriorated from 2017 to 2018.

Adjusted Financial Leverage

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Total assets
Total HP stockholders’ equity (deficit)
Solvency Ratio
Financial leverage1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2
Adjusted total stockholders’ equity (deficit)3
Solvency Ratio
Adjusted financial leverage4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
Financial leverage = Total assets ÷ Total HP stockholders’ equity (deficit)
= ÷ =

2 Adjusted total assets. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2018 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity (deficit)
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
HP Inc.’s adjusted financial leverage ratio increased from 2016 to 2017 and from 2017 to 2018.

Adjusted Net Profit Margin

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Net earnings
Net revenue
Profitability Ratio
Net profit margin1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings2
Adjusted net revenue3
Profitability Ratio
Adjusted net profit margin4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
Net profit margin = 100 × Net earnings ÷ Net revenue
= 100 × ÷ =

2 Adjusted net earnings. See details »

3 Adjusted net revenue. See details »

4 2018 Calculation
Adjusted net profit margin = 100 × Adjusted net earnings ÷ Adjusted net revenue
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. HP Inc.’s adjusted net profit margin ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.

Adjusted Return on Equity (ROE)

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Net earnings
Total HP stockholders’ equity (deficit)
Profitability Ratio
ROE1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings2
Adjusted total stockholders’ equity (deficit)3
Profitability Ratio
Adjusted ROE4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
ROE = 100 × Net earnings ÷ Total HP stockholders’ equity (deficit)
= 100 × ÷ =

2 Adjusted net earnings. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2018 Calculation
Adjusted ROE = 100 × Adjusted net earnings ÷ Adjusted total stockholders’ equity (deficit)
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. HP Inc.’s adjusted ROE improved from 2016 to 2017 and from 2017 to 2018.

Adjusted Return on Assets (ROA)

Microsoft Excel LibreOffice Calc
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Reported
Selected Financial Data (US$ in millions)
Net earnings
Total assets
Profitability Ratio
ROA1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings2
Adjusted total assets3
Profitability Ratio
Adjusted ROA4

Based on: 10-K (filing date: 2018-12-13), 10-K (filing date: 2017-12-14), 10-K (filing date: 2016-12-15), 10-K (filing date: 2015-12-16), 10-K (filing date: 2014-12-18), 10-K (filing date: 2013-12-30).

1 2018 Calculation
ROA = 100 × Net earnings ÷ Total assets
= 100 × ÷ =

2 Adjusted net earnings. See details »

3 Adjusted total assets. See details »

4 2018 Calculation
Adjusted ROA = 100 × Adjusted net earnings ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. HP Inc.’s adjusted ROA deteriorated from 2016 to 2017 and from 2017 to 2018.