HP
HPQ · Technology Hardware, Storage & Peripherals
$33.64
0.4%Supermicro
SMCI · Technology Hardware, Storage & Peripherals
$32.94
2.3%The short version
- HP is the larger business, with $55.3B of revenue in fiscal 2025 against $39.1B for Supermicro.
- Supermicro grew revenue faster (77.8%, against 3.2%).
- Supermicro kept more of each dollar of sales as operating profit (7.1% operating margin, against 5.7% operating margin).
- HP turned more of its sales into free cash flow (5.1% FCF margin, against −17.9% FCF margin).
| Latest fiscal year | HPQ · FY25 | SMCI · FY26 |
|---|---|---|
| Size | ||
| Market cap | $31.2B | $23.0B |
| Revenue | $55.3B | $39.1B |
| Free cash flow | $2.8B | −$7.0B |
| Net income | $2.5B | $2.2B |
| Growth | ||
| Revenue growth | 3.2% | 77.8% |
| 5-year growth | −0.5% | 61.5% |
| Share count change | −3.6% | 11.0% |
| Profitability | ||
| Gross margin | 20.6% | 10.8% |
| Operating margin | 5.7% | 7.1% |
| Net margin | 4.6% | 5.7% |
| FCF margin | 5.1% | −17.9% |
| Return on capital | 55.3% | — |
| Return on equity | — | 21.5% |
| Balance sheet | ||
| Net debt | $6.0B | — |
| Net debt / EBITDA | 1.5x | — |
| Dividends and buybacks | $1.9B | $0.0M |
| Valuation & quality | ||
| P/E | 12.9x | — |
| Piotroski F-score | 6 | — |
FY17
HPQ $52.1B
SMCI $2.5B
FY18
HPQ $58.5B
SMCI $3.4B
FY19
HPQ $58.8B
SMCI $3.5B
FY20
HPQ $56.6B
SMCI $3.3B
FY21
HPQ $63.5B
SMCI $3.6B
FY22
HPQ $62.9B
SMCI $5.2B
FY23
HPQ $53.7B
SMCI $7.1B
FY24
HPQ $53.6B
SMCI $15.0B
FY25
HPQ $55.3B
SMCI $22.0B
FY26
HPQ —
SMCI $39.1B
HPQ
SMCI
FY17
HPQ 6.5%
SMCI 3.8%
FY18
HPQ 6.6%
SMCI 2.8%
FY19
HPQ 6.6%
SMCI 2.8%
FY20
HPQ 6.1%
SMCI 2.6%
FY21
HPQ 8.4%
SMCI 3.5%
FY22
HPQ 7.3%
SMCI 6.5%
FY23
HPQ 6.4%
SMCI 10.7%
FY24
HPQ 7.1%
SMCI 8.1%
FY25
HPQ 5.7%
SMCI 5.7%
FY26
HPQ —
SMCI 7.1%
HPQ
SMCI
FY17
HPQ $3.3B
SMCI −$126M
FY18
HPQ $4.0B
SMCI $59.5M
FY19
HPQ $4.0B
SMCI $238M
FY20
HPQ $3.7B
SMCI −$74.7M
FY21
HPQ $5.8B
SMCI $64.9M
FY22
HPQ $3.7B
SMCI −$486M
FY23
HPQ $3.0B
SMCI $627M
FY24
HPQ $3.2B
SMCI −$2.6B
FY25
HPQ $2.8B
SMCI $1.5B
FY26
HPQ —
SMCI −$7.0B
HPQ
SMCI
FY17
HPQ —
SMCI —
FY18
HPQ —
SMCI —
FY19
HPQ —
SMCI —
FY20
HPQ —
SMCI —
FY21
HPQ —
SMCI —
FY22
HPQ —
SMCI —
FY23
HPQ 66.1%
SMCI —
FY24
HPQ 60.8%
SMCI —
FY25
HPQ 55.3%
SMCI —
FY26
HPQ —
SMCI —
HPQ
SMCI
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.