vs
Side-by-side financial comparison of HP Inc. (HPQ) and PayPal (PYPL). Click either name above to swap in a different company.
HP Inc. is the larger business by last-quarter revenue ($14.6B vs $8.4B, roughly 1.8× PayPal). PayPal runs the higher net margin — 13.3% vs 5.4%, a 7.9% gap on every dollar of revenue. On growth, PayPal posted the faster year-over-year revenue change (7.0% vs 4.2%). HP Inc. produced more free cash flow last quarter ($1.4B vs $903.0M). Over the past eight quarters, HP Inc.'s revenue compounded faster (5.4% CAGR vs 2.9%).
The Hewlett-Packard Company, commonly shortened to Hewlett-Packard or HP, was an American multinational information technology company. It was founded by Bill Hewlett and David Packard in 1939 in a one-car garage in Palo Alto, California. Growing to become an influential high-tech powerhouse at the heart of Silicon Valley, the company was known for its progressive business philosophy, deemed the HP Way.
PayPalPYPLEarnings & Financial Report
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial and company users.
HPQ vs PYPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $14.6B | $8.4B |
| Net Profit | $795.0M | $1.1B |
| Gross Margin | 20.2% | — |
| Operating Margin | 6.6% | 17.8% |
| Net Margin | 5.4% | 13.3% |
| Revenue YoY | 4.2% | 7.0% |
| Net Profit YoY | -12.3% | -13.5% |
| EPS (diluted) | $0.84 | $1.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $8.4B | ||
| Q4 25 | $14.6B | $8.7B | ||
| Q3 25 | $13.9B | $8.4B | ||
| Q2 25 | $13.2B | $8.3B | ||
| Q1 25 | $13.5B | $7.8B | ||
| Q4 24 | $14.1B | $8.4B | ||
| Q3 24 | $13.5B | $7.8B | ||
| Q2 24 | $12.8B | $7.9B |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $795.0M | $1.4B | ||
| Q3 25 | $763.0M | $1.2B | ||
| Q2 25 | $406.0M | $1.3B | ||
| Q1 25 | $565.0M | $1.3B | ||
| Q4 24 | $906.0M | $1.1B | ||
| Q3 24 | $640.0M | $1.0B | ||
| Q2 24 | $607.0M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 21.0% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | 23.6% | — |
| Q1 26 | — | 17.8% | ||
| Q4 25 | 6.6% | 17.4% | ||
| Q3 25 | 5.1% | 18.1% | ||
| Q2 25 | 4.9% | 18.1% | ||
| Q1 25 | 6.3% | 19.6% | ||
| Q4 24 | 7.1% | 17.2% | ||
| Q3 24 | 7.0% | 17.7% | ||
| Q2 24 | 7.4% | 16.8% |
| Q1 26 | — | 13.3% | ||
| Q4 25 | 5.4% | 16.6% | ||
| Q3 25 | 5.5% | 14.8% | ||
| Q2 25 | 3.1% | 15.2% | ||
| Q1 25 | 4.2% | 16.5% | ||
| Q4 24 | 6.4% | 13.4% | ||
| Q3 24 | 4.7% | 12.9% | ||
| Q2 24 | 4.7% | 14.3% |
| Q1 26 | — | $1.21 | ||
| Q4 25 | $0.84 | $1.53 | ||
| Q3 25 | $0.80 | $1.30 | ||
| Q2 25 | $0.42 | $1.29 | ||
| Q1 25 | $0.59 | $1.29 | ||
| Q4 24 | $0.93 | $1.09 | ||
| Q3 24 | $0.65 | $0.99 | ||
| Q2 24 | $0.61 | $1.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.7B | $9.3B |
| Total DebtLower is stronger | $9.7B | $9.4B |
| Stockholders' EquityBook value | $-346.0M | $20.0B |
| Total Assets | $41.8B | $80.5B |
| Debt / EquityLower = less leverage | — | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $9.3B | ||
| Q4 25 | $3.7B | $10.4B | ||
| Q3 25 | $2.9B | $10.8B | ||
| Q2 25 | $2.7B | $10.0B | ||
| Q1 25 | $2.9B | $11.2B | ||
| Q4 24 | $3.2B | $10.8B | ||
| Q3 24 | $2.8B | $11.9B | ||
| Q2 24 | $2.4B | $13.6B |
| Q1 26 | — | $9.4B | ||
| Q4 25 | $9.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $9.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $20.0B | ||
| Q4 25 | $-346.0M | $20.3B | ||
| Q3 25 | $-901.0M | $20.2B | ||
| Q2 25 | $-1.3B | $20.2B | ||
| Q1 25 | $-1.1B | $20.3B | ||
| Q4 24 | $-1.3B | $20.4B | ||
| Q3 24 | $-1.4B | $20.2B | ||
| Q2 24 | $-916.0M | $20.6B |
| Q1 26 | — | $80.5B | ||
| Q4 25 | $41.8B | $80.2B | ||
| Q3 25 | $39.9B | $79.8B | ||
| Q2 25 | $38.8B | $79.8B | ||
| Q1 25 | $38.9B | $81.3B | ||
| Q4 24 | $39.9B | $81.6B | ||
| Q3 24 | $38.1B | $83.5B | ||
| Q2 24 | $37.4B | $84.0B |
| Q1 26 | — | 0.47× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.6B | $1.1B |
| Free Cash FlowOCF − Capex | $1.4B | $903.0M |
| FCF MarginFCF / Revenue | 9.7% | 10.8% |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 2.04× | 1.02× |
| TTM Free Cash FlowTrailing 4 quarters | $2.8B | $5.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.6B | $2.4B | ||
| Q3 25 | $1.7B | $2.0B | ||
| Q2 25 | $38.0M | $898.0M | ||
| Q1 25 | $374.0M | $1.2B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.4B | $1.6B | ||
| Q2 24 | $581.0M | $1.5B |
| Q1 26 | — | $903.0M | ||
| Q4 25 | $1.4B | $2.2B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $-145.0M | $692.0M | ||
| Q1 25 | $72.0M | $964.0M | ||
| Q4 24 | $1.5B | $2.2B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $462.0M | $1.4B |
| Q1 26 | — | 10.8% | ||
| Q4 25 | 9.7% | 25.2% | ||
| Q3 25 | 10.4% | 20.4% | ||
| Q2 25 | -1.1% | 8.3% | ||
| Q1 25 | 0.5% | 12.4% | ||
| Q4 24 | 10.5% | 26.2% | ||
| Q3 24 | 9.3% | 18.4% | ||
| Q2 24 | 3.6% | 17.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 2.2% | ||
| Q3 25 | 1.5% | 3.0% | ||
| Q2 25 | 1.4% | 2.5% | ||
| Q1 25 | 2.2% | 2.5% | ||
| Q4 24 | 1.1% | 2.4% | ||
| Q3 24 | 1.2% | 2.2% | ||
| Q2 24 | 0.9% | 2.0% |
| Q1 26 | — | 1.02× | ||
| Q4 25 | 2.04× | 1.66× | ||
| Q3 25 | 2.18× | 1.58× | ||
| Q2 25 | 0.09× | 0.71× | ||
| Q1 25 | 0.66× | 0.90× | ||
| Q4 24 | 1.79× | 2.14× | ||
| Q3 24 | 2.23× | 1.60× | ||
| Q2 24 | 0.96× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HPQ
| Commercial PS | $7.0B | 48% |
| Consumer PS | $3.4B | 23% |
| Supplies | $2.8B | 19% |
| Commercial Printing | $1.2B | 8% |
| Consumer Printing | $296.0M | 2% |
| Corporate Investments | $19.0M | 0% |
PYPL
| Transaction revenues | $7.5B | 90% |
| Revenues from other value added services | $852.0M | 10% |
