How do HP Inc. and Supermicro compare by revenue?

HP Inc. reported revenue of $14.6B in Q4 2025, while Supermicro reported $12.7B in Q2 2026. HP Inc. is 1.2× larger by last-quarter revenue.

Which is growing revenue faster, HP Inc. or Supermicro?

HP Inc.'s latest revenue grew 4.2% year-over-year, versus 123.4% for Supermicro. Supermicro is growing faster on a YoY basis.

Which has a higher gross margin, HP Inc. or Supermicro?

HP Inc.'s gross margin is 20.2% vs Supermicro's 6.3%. HP Inc. converts more of each revenue dollar into gross profit.

Which has a higher net margin, HP Inc. or Supermicro?

HP Inc.'s net margin is 5.4% vs Supermicro's 3.2%. HP Inc. has the higher bottom-line margin.

Which generates more free cash flow, HP Inc. or Supermicro?

HP Inc. generated $1.4B of free cash flow last quarter, versus $-45.1M for Supermicro. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for HP Inc. vs Supermicro?

Over the trailing 8 quarters, HP Inc. compounded revenue at roughly 5.4% per year, versus 81.5% for Supermicro. Supermicro has the faster medium-term growth trajectory.

Where does this HPQ vs SMCI data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of HP Inc. (HPQ) and Supermicro (SMCI), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.

HP Inc. is the larger business by last-quarter revenue ($14.6B vs $12.7B, roughly 1.2× Supermicro). HP Inc. runs the higher net margin — 5.4% vs 3.2%, a 2.3% gap on every dollar of revenue. On growth, Supermicro posted the faster year-over-year revenue change (123.4% vs 4.2%). HP Inc. produced more free cash flow last quarter ($1.4B vs $-45.1M). Over the past eight quarters, Supermicro's revenue compounded faster (81.5% CAGR vs 5.4%).

HP Inc.HPQEarnings & Financial Report

NYSE · Information Technology · Technology Hardware, Storage & Peripherals

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.

SupermicroSMCIEarnings & Financial Report

Nasdaq · Information Technology · Technology Hardware, Storage & Peripherals

Super Micro Computer, Inc., doing business as Supermicro, is an American information technology company based in San Jose, California. The company is one of the largest producers of high-performance and high-efficiency servers, while also providing server management software, and storage systems for various markets, including enterprise data centers, cloud computing, artificial intelligence, 5G, and edge computing.

HPQ vs SMCI — Head-to-Head

Bigger by revenue

HPQ

1.2× larger

$14.6B

$12.7B

Growing faster (revenue YoY)

SMCI

+119.2% gap

123.4%

4.2%

Higher net margin

HPQ

2.3% more per $

5.4%

3.2%

More free cash flow

HPQ

$1.5B more FCF

$1.4B

$-45.1M

Faster 2-yr revenue CAGR

SMCI

Annualised

81.5%

5.4%

Income Statement — Q4 2025 vs Q2 2026

Metric	HPQ	SMCI
Revenue	$14.6B	$12.7B
Net Profit	$795.0M	$400.6M
Gross Margin	20.2%	6.3%
Operating Margin	6.6%	3.7%
Net Margin	5.4%	3.2%
Revenue YoY	4.2%	123.4%
Net Profit YoY	-12.3%	24.9%
EPS (diluted)	$0.84	$0.60

Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.

Revenue

HPQ

SMCI

Q4 25	$14.6B	$12.7B
Q3 25	$13.9B	$5.0B
Q2 25	$13.2B	$5.8B
Q1 25	$13.5B	$4.6B
Q4 24	$14.1B	$5.7B
Q3 24	$13.5B	$5.9B
Q2 24	$12.8B	$5.4B
Q1 24	$13.2B	$3.9B

Net Profit

HPQ

SMCI

Q4 25	$795.0M	$400.6M
Q3 25	$763.0M	$168.3M
Q2 25	$406.0M	$195.2M
Q1 25	$565.0M	$108.8M
Q4 24	$906.0M	$320.6M
Q3 24	$640.0M	$424.3M
Q2 24	$607.0M	$297.2M
Q1 24	$622.0M	$402.5M

Gross Margin

HPQ

SMCI

Q4 25	20.2%	6.3%
Q3 25	20.5%	9.3%
Q2 25	20.7%	9.5%
Q1 25	21.0%	9.6%
Q4 24	21.4%	11.8%
Q3 24	21.5%	13.1%
Q2 24	23.6%	10.2%
Q1 24	21.9%	15.5%

Operating Margin

HPQ

SMCI

Q4 25	6.6%	3.7%
Q3 25	5.1%	3.6%
Q2 25	4.9%	4.0%
Q1 25	6.3%	3.2%
Q4 24	7.1%	6.5%
Q3 24	7.0%	8.6%
Q2 24	7.4%	5.4%
Q1 24	7.1%	9.8%

Net Margin

HPQ

SMCI

Q4 25	5.4%	3.2%
Q3 25	5.5%	3.4%
Q2 25	3.1%	3.4%
Q1 25	4.2%	2.4%
Q4 24	6.4%	5.6%
Q3 24	4.7%	7.1%
Q2 24	4.7%	5.6%
Q1 24	4.7%	10.5%

EPS (diluted)

HPQ

SMCI

Q4 25	$0.84	$0.60
Q3 25	$0.80	$0.26
Q2 25	$0.42	$0.33
Q1 25	$0.59	$0.17
Q4 24	$0.93	$0.51
Q3 24	$0.65	$0.67
Q2 24	$0.61	$-12.49
Q1 24	$0.62	$6.56

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.

Metric	HPQ	SMCI
Cash + ST InvestmentsLiquidity on hand	$3.7B	$4.1B
Total DebtLower is stronger	$9.7B	—
Stockholders' EquityBook value	$-346.0M	$7.0B
Total Assets	$41.8B	$28.0B
Debt / EquityLower = less leverage	—	—

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Cash + ST Investments

HPQ

SMCI

Q4 25	$3.7B	$4.1B
Q3 25	$2.9B	$4.2B
Q2 25	$2.7B	$5.2B
Q1 25	$2.9B	$2.5B
Q4 24	$3.2B	$1.4B
Q3 24	$2.8B	$2.1B
Q2 24	$2.4B	$1.7B
Q1 24	$2.3B	$2.1B

Total Debt

HPQ

SMCI

Q4 25	$9.7B	—
Q3 25	—	—
Q2 25	—	—
Q1 25	—	—
Q4 24	$9.7B	—
Q3 24	—	—
Q2 24	—	—
Q1 24	—	—

Stockholders' Equity

HPQ

SMCI

Q4 25	$-346.0M	$7.0B
Q3 25	$-901.0M	$6.5B
Q2 25	$-1.3B	$6.3B
Q1 25	$-1.1B	$6.4B
Q4 24	$-1.3B	$6.2B
Q3 24	$-1.4B	$5.9B
Q2 24	$-916.0M	$5.4B
Q1 24	$-1.6B	$5.1B

Total Assets

HPQ

SMCI

Q4 25	$41.8B	$28.0B
Q3 25	$39.9B	$14.4B
Q2 25	$38.8B	$14.0B
Q1 25	$38.9B	$10.7B
Q4 24	$39.9B	$9.7B
Q3 24	$38.1B	$10.9B
Q2 24	$37.4B	$9.8B
Q1 24	$35.8B	$8.9B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.

Metric	HPQ	SMCI
Operating Cash FlowLast quarter	$1.6B	$-23.9M
Free Cash FlowOCF − Capex	$1.4B	$-45.1M
FCF MarginFCF / Revenue	9.7%	-0.4%
Capex IntensityCapex / Revenue; lower = less reinvestment burden	1.3%	0.2%
Cash ConversionOCF / Net Profit; >1× = earnings back up with cash	2.04×	-0.06×
TTM Free Cash FlowTrailing 4 quarters	$2.8B	$440.1M

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Operating Cash Flow

HPQ

SMCI

Q4 25	$1.6B	$-23.9M
Q3 25	$1.7B	$-917.5M
Q2 25	$38.0M	$863.6M
Q1 25	$374.0M	$626.8M
Q4 24	$1.6B	$-239.8M
Q3 24	$1.4B	$408.9M
Q2 24	$581.0M	$-641.8M
Q1 24	$121.0M	$-1.5B

Free Cash Flow

HPQ

SMCI

Q4 25	$1.4B	$-45.1M
Q3 25	$1.4B	$-949.8M
Q2 25	$-145.0M	$840.9M
Q1 25	$72.0M	$594.1M
Q4 24	$1.5B	$-267.3M
Q3 24	$1.3B	$364.6M
Q2 24	$462.0M	$-655.8M
Q1 24	$-37.0M	$-1.6B

FCF Margin

HPQ

SMCI

Q4 25	9.7%	-0.4%
Q3 25	10.4%	-18.9%
Q2 25	-1.1%	14.6%
Q1 25	0.5%	12.9%
Q4 24	10.5%	-4.7%
Q3 24	9.3%	6.1%
Q2 24	3.6%	-12.2%
Q1 24	-0.3%	-41.9%

Capex Intensity

HPQ

SMCI

Q4 25	1.3%	0.2%
Q3 25	1.5%	0.6%
Q2 25	1.4%	0.4%
Q1 25	2.2%	0.7%
Q4 24	1.1%	0.5%
Q3 24	1.2%	0.7%
Q2 24	0.9%	0.3%
Q1 24	1.2%	2.4%

Cash Conversion

HPQ

SMCI

Q4 25	2.04×	-0.06×
Q3 25	2.18×	-5.45×
Q2 25	0.09×	4.43×
Q1 25	0.66×	5.76×
Q4 24	1.79×	-0.75×
Q3 24	2.23×	0.96×
Q2 24	0.96×	-2.16×
Q1 24	0.19×	-3.78×

Financial Flow Comparison

Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.