HPQ · 10-K filed 10 Dec 2025 · year to 31 Oct 2025

HP

30 named things its latest annual report says its results depend on, each in the company's own words. 20 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

U.S. government

earns fromnamed as a risk

Moreover, U.S. government contracts are subject to congressional funding, which at times has been and may in the future be unavailable or delayed, which could impact our business.Risk factors (Item 1A)

Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more

Suppliers

NVIDIA Corporation

depends onnamed as a risk

We also rely on Intel, AMD, and NVIDIA, or other suppliers to provide us with a sufficient supply of processors for the majority of our PCs and workstations.Risk factors (Item 1A)

Also named by AKAM, CRWV, CSCO, MRVL

Canon Inc.

depends onnamed as a risk

For example, we rely on Canon for certain laser printer engines and laser toner cartridges and certain key suppliers for application specific integrated circuits (“ASICs”).Risk factors (Item 1A)

Also named by ONTO

Intel Corporation

depends onnamed as a risk

We also rely on Intel, AMD, and NVIDIA, or other suppliers to provide us with a sufficient supply of processors for the majority of our PCs and workstations.Risk factors (Item 1A)

Also named by MXL

Advanced Micro Devices, Inc. (AMD)

depends onnamed as a risk

We also rely on Intel, AMD, and NVIDIA, or other suppliers to provide us with a sufficient supply of processors for the majority of our PCs and workstations.Risk factors (Item 1A)

Also named by MRVL

Original manufacturers (OMs) for Personal Systems

depends onnamed as a risk

Additionally, our Personal Systems business relies heavily upon OMs to manufacture our products and we are therefore dependent upon the continuing operations of those OMs.Risk factors (Item 1A)

Partners and platforms

Microsoft Corporation

depends onnamed as a risk

Many of our products and services, including those which incorporate AI capabilities, are dependent on third-party software, including from Microsoft and Google, to function as intended, and product issues also sometimes result from the interaction between our products and software and third-party products and software.Risk factors (Item 1A)

Also named by DDOG, GTLB, PANW, WDAY

Google LLC

depends onnamed as a risk

Also named by AAPL

Other companies

Hewlett Packard Enterprise

named as a risk

If Hewlett Packard Enterprise or its successor entities (including spun off businesses to which obligations have been transferred) are unable to satisfy their obligations under these agreements, we could incur operational difficulties or losses.Risk factors (Item 1A)

Also named by ANET, CIEN, CLS, IBM, P, SMCI

Competitors

Non-original printer supplies

competes withnamed as a risk

Furthermore, non-original supplies (including imitation, refill or remanufactured alternatives), which are often available at lower prices, compete with our Printing Supplies business.Risk factors (Item 1A)

Lenovo Group Limited

competes with

Our primary competitors are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Huawei Technologies Co., Ltd., Lenovo Group Limited, Logitech International S.A., Microsoft Corporation, Samsung Electronics Co., Ltd., and Toshiba Corporation.Business (Item 1)

Also named by IDCC

Dell Inc.

competes with

Seiko Epson Corporation

competes with

Our primary competitors include Brother Industries, Ltd., Canon Inc., Pantum International Limited, Seiko Epson Corporation, The Ricoh Company Ltd., and Xerox Corporation Ltd.Business (Item 1)

Places

International markets outside the United States

earns from · Approximately 65% of our net revenuenamed as a risk

Approximately 65% of our net revenue for fiscal year 2025 came from outside the United States.Risk factors (Item 1A)

Also named by HSY

Taiwan

depends onnamed as a risk

For example, we rely on manufacturers in Taiwan to produce notebook computers and other suppliers in Asia for product assembly and manufacture and have manufacturing operations in Israel which support our Industrial Graphics business.Risk factors (Item 1A)

Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more

China

earns fromnamed as a risk

For example, during fiscal year 2025 we observed continued market uncertainty, cautious commercial spending on information technology hardware, including in China, lower discretionary consumer spending, increasing commodity costs, inflationary pressures, the implementation of tariffs and other trade restrictions, and foreign currency fluctuations.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Israel

operates innamed as a risk

Also named by AIOT, AKAM, AMAT, AMGN, APP, ASTS, AVY, BSX and 31 more

Patent litigation in Germany and Brazil

named as a risk

There is an increasingly active litigation and regulatory environment, including but not limited to employment and patent-monetization claims in the United States, Germany and Brazil, and litigation and regulatory matters focused on consumer protection, privacy, and competition regulation globally.Risk factors (Item 1A)

Hazards

Taiwan Strait and South China Sea tensions

named as a risk

The impact of certain geopolitical conflicts (including any escalation or expansion thereof), such as the ongoing military conflicts in Ukraine and the Middle East or tensions in the Taiwan Strait and South China Sea, and any broadening of ancillary geopolitical, economic, and other effects could adversely impact these operations and could heighten the other risks identified in this report.Risk factors (Item 1A)

Commodities and inputs

Euro

exposed to its pricenamed as a risk

We transact business in over 40 currencies worldwide, of which the most significant foreign currencies to our operations for fiscal year 2025 were Euro, Chinese yuan renminbi, Japanese yen and British pound.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Japanese yen

exposed to its pricenamed as a risk

In addition, currency fluctuations, particularly weakness in the Japanese Yen, has and may continue to exacerbate pricing competition for our print products and services.Risk factors (Item 1A)

Also named by ABBV, ABT, ACN, ADBE, ALK, AMAT, AMKR, BMY and 24 more

Chinese yuan renminbi

exposed to its pricenamed as a risk

Also named by CB, JBL

Memory and storage components

exposed to its pricenamed as a risk

We have also observed significant inflationary trends in memory and storage costs.Risk factors (Item 1A)

Also named by SMCI

Integrated circuits and panels

depends onnamed as a risk

For example, a market shortage of integrated circuits and panels and other component supply has at times affected, and may affect in the future, lead times, the cost of that supply, and our ability to meet customer demand for our products.Risk factors (Item 1A)

Laws and programs

General Data Protection Regulation (GDPR)

subject tonamed as a risk

We are subject to federal, state, and international laws relating to privacy and data protection, particularly in the U.S., European Union (such as the General Data Protection Regulation (“GDPR”)) and China, and other countries’ legislative and regulatory bodies are increasingly proposing new or more stringent requirements relating to privacy and data protection.Risk factors (Item 1A)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

U.S. tariffs on imports (2025)

subject tonamed as a risk

As a result, during fiscal 2025, we experienced higher commodity and tariff costs, which were not fully mitigated by pricing and other actions enacted during the period.Risk factors (Item 1A)

Also named by AAP, ABT, ALLY, ATR, AZO, BBW, BWA, CMG and 19 more

OECD BEPS Pillar Two

subject tonamed as a risk

For instance, the OECD has enacted model rules for a new global minimum tax framework (“BEPS Pillar Two”), and various governments around the world have enacted, or are in the process of enacting, legislation on these rules.Risk factors (Item 1A)

Also named by ROK

European copyright levies on IT equipment

subject tonamed as a risk

In certain countries (primarily in Europe), proceedings are ongoing or have been concluded in which groups representing copyright owners seek to impose upon and collect from us levies upon IT equipment (such as PCs and printers).Risk factors (Item 1A)

Rare earth elements export controls

subject tonamed as a risk

Proliferating export controls, including controls on certain rare earth elements, designed to limit the diffusion of advanced technology, can impact speed on AI innovation and capabilities by controlling hardware capable of supporting advanced AI technology.Risk factors (Item 1A)

Technology

Big tank printers

named as a risk

While our big tank printers typically have a higher initial margin than our traditional in cartridge printers, they do not result in follow-on sales of high margin traditional ink cartridges and, as a result, may have lower overall device lifetime profitability.Risk factors (Item 1A)