HPQ Q4 FY24
1min read HPQ achieved a 1.73% YoY growth in its total operating revenue in 2024, reaching $14.055 billion, compared to $13.817 billion in 2023. Although the growth is modest, this performance demonstrates the company's stable revenue trend.
# Key Financial Data
1. Total Operating Revenue: $14.055 billion in 2024, up $2.38 billion from $13.817 billion in 2023.
2. Market Demand: Continued demand for printers and personal computers, especially during the post-pandemic digital transformation, drove revenue growth.
3. Product Portfolio Optimization: Optimizing the product portfolio and increasing the sales ratio of high-profit products helped boost overall revenue.
4. Cost Control: Despite an increase in sales costs (from $10.832 billion to $11.054 billion), a slight increase in gross profit (from $2.985 billion to $3.001 billion) showed good cost management ability.
5. Economic Environment: Global economic recovery and the warming of consumer demand supported the company's sales performance.
# Industry Comparison
1. Overall Industry Analysis: The overall printing and personal computer industry faced gradual recovery in 2024, especially the demand recovery in the enterprise and education markets, driving industry revenue growth. It is expected that the industry will continue to benefit from the impact of digital transformation and remote work trends in the next year.
2. Peer Comparison Analysis: Compared with its peers, HP's YoY growth in total operating revenue is stable, although it lags behind some high-growth technology companies, but maintains relative competitiveness in the traditional hardware market, showing stable market share.
# Conclusion
Overall, HP's financial performance in 2024 shows stable revenue growth, despite the cost increase and profit pressure, the stable market demand and product portfolio optimization support the company. In the future, HP needs to continue to focus on cost control and market competition to maintain its market position.
# Opportunities
1. Digital Transformation Demand: With the deepening reliance of enterprises and individuals on digitalization, HP's products in the printer and personal computer fields are expected to gain more market share.
2. Product Portfolio Optimization: Continuing to optimize the product portfolio and launching high-profit products will help improve overall profitability.
3. New Market Development: With the popularity of home office, HP can target family users and launch customized products to meet market demand.
# Risks
1. Intense Market Competition: HP's declining sales in the personal computer market and the robust performance of competitors pose a threat to its market share.
2. Declining Net Profit: Although revenue grew, net profit declined YoY, indicating that profitability is being suppressed.
3. External Economic Environment Uncertainty: Global economic fluctuations may affect consumer demand, thus affecting the company's sales performance.
