HP Inc. management check
HPQ · Information Technology · Technology Hardware, Storage & Peripherals · CEO Enrique Lores
Filings as of
2 good · 2 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $182, against $319 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.42 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.9% of net income$23.1m of reported pay in fiscal 2025, against $2.5bn of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $2.8m sold in six months. 6 of 6 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -2.4% a year over the last three fiscal years. Stock-based pay was 0.9% of revenue in the latest year.
- Flag
Is leadership stable?
14 leadership filings in 3 yearsCEO in the pay table: Enrique Lores. 14 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Watch
Are the books clean?
An annual report was amendedNo restatements, auditor changes or late filings since 2021. 1 amended annual report.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Information Technology.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 33 | |
| Pay for performance | 71 | 87 | |
| CEO cost | 53 | 35 | |
| Skin in the game | — | — | 47 |
| Dilution | 80 | 56 | |
| Stable leadership | 55 | 85 | |
| Clean books | 70 | 100 |
Closest peers
Others in Technology Hardware, Storage & Peripherals, by management score. HP Inc. is 53rd of 73 in its sector.
- 3SNDKSandisk94
- 7DELLDell Technologies90
- 24STXSeagate Technology85
- 178WDCWestern Digital70
- 195PEverpure69
- 204AAPLApple Inc.68
- 295SMCISupermicro62
- 348NTAPNetApp58
- 387HPQHP Inc.55
- 403HPEHewlett Packard Enterprise53
Pay versus performance
From the proxy statement filed February 25, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Enrique Lores | $23.1m | $9.9m | $7.0m | $182 | $319 | $2.5bn |
| 2024 | — | $19.4m | $29.9m | $6.6m | $224 | $232 | $2.8bn |
| 2023 | — | $19.5m | $12.9m | $7.1m | $161 | $153 | $3.3bn |
| 2022 | — | $21.1m | $11.8m | $8.5m | $163 | $117 | $3.1bn |
| 2021 | — | $20.7m | $39.1m | $8.7m | $174 | $147 | $6.5bn |
The board says pay is tied most to PARSU EPS. Its other key measures: *PARSU EPS, *Revenue, *Operating Profit, *Free Cash Flow.
Insiders and the CEO's stake
Light activity: no buys, $2.8m sold in six months. 6 of 6 sales ran on pre-arranged 10b5-1 plans.
- SoldDavid P. McQuarrieChief Commercial Officer · 10b5-1 plan$2.8mOct 2, 2026
Leadership and governance on file
- Apr 21, 2026Leadership change8-K 5.02
- Feb 3, 2026Leadership change8-K 5.02
- Dec 29, 2025Leadership change8-K/A 5.02
- Oct 1, 2025Leadership change8-K 5.02
- Jun 25, 2025Leadership change8-K 5.02
- Feb 21, 2025Leadership change8-K 5.02
- Feb 7, 2025Leadership change8-K 5.02
- Oct 24, 2024Leadership change8-K 5.02
- Jun 26, 2024Leadership change8-K 5.02
- Jun 17, 2024Leadership change8-K 5.02
- Apr 25, 2024Leadership change8-K 5.02
- Dec 15, 2023Leadership change8-K/A 5.02
Latest shareholder vote results: Apr 21, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $18.8bn returned to owners in buybacks and dividends, 103% of net income, and $2.1bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $63.5bn | $62.9bn | $53.7bn | $53.6bn | $55.3bn |
| Net income | $6.5bn | $3.1bn | $3.3bn | $2.8bn | $2.5bn |
| Stock-based pay | $330.0m | $343.0m | $438.0m | $452.0m | $522.0m |
| Buybacks | $6.2bn | $4.3bn | $100.0m | $2.1bn | $850.0m |
| Dividends | $938.0m | $1.0bn | $1.0bn | $1.1bn | $1.1bn |
| Diluted shares | 1220m | 1050m | 1000m | 989m | 953m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.