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HSBC Holdings plc

HSBC Financial Banks Diversified

In the quarter to June 2026, revenue fell 18.8%, EPS fell 24.1%, free cash flow grew 75.4% and total debt rose 2.47%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

94.57 0.03 +0.03%
Market cap
$324.0B
P/E
13.3×
Fwd P/E
—
Dividend yield
3.97%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.00
Total sells 0.42
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — 1 — — — — — — —
Sell — — — — — — 1 — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 323,990.00
Revenue 40,183.00
Net Income 19,522.00
Free Cash Flow 144,604.00
Net Debt (969,701.00)
Current Ratio 0.85
Debt/Equity 0.67
P/E ratio 13.32
Fwd P/E —
P/S ratio 8.06
P/B ratio 1.64
Past 5Y EPS Growth 44.81% (at or above 15%: strong)
This Y EPS Growth 13.33%
Next Y EPS Growth 11.24%
Next Y revenue growth —
Next 5Y EPS Growth 11.30%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 49.50%
10-year low 10-year high
P/S against its own 10 years 97.12%
10-year low 10-year high
P/B against its own 10 years 97.38%
10-year low 10-year high

Dividends

Payout Ratio 0.53
Annual Dividend Rate 3.75
Annual Dividend Yield 3.97%
total individual payouts
2026 3.25
2.25
0.50
0.50
2025 3.30
1.80
0.50
0.50
0.50
2024 3.05
1.55
0.50
0.50
0.50
2023 1.50
1.15
0.50
0.50
0.50
2021 1.10
0.75
0.35
2020 1.05
1.05
2019 2.55
1.05
0.50
0.50
0.50
2018 2.55
1.05
0.50
0.50
0.50
2017 2.55
1.05
0.50
0.50
0.50
2016 2.55
1.05
0.50
0.50
0.50
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 937,887 950,834 1,040,467 1,102,600
Receivables — — — —
Inventory — — — —
Other — — — —
1,989,324 1,983,531 2,137,328 2,235,234
2023 2024 2025 Q'26
Payables 1,684,810 1,728,952 1,884,780 1,919,104
ST’ Debt — — — —
Other 73,150 204,709 230,578 86,363
2,218,164 2,246,610 2,465,492 2,643,166

Compound Annual Growth %

10y 5y 3y
Sales 7.97% 15.19% 21.00%
Cash Flow 0.00% (30.40%) 15.43%
Earnings 5.32% 40.18% 13.73%
Book Value 0.41% 0.07% 3.56%

Revenue $m

Mar Jun Sep Dec Year
’26 10,453 — — — —
’25 10,160 — 9,602 — 134,263
’24 12,868 — 9,968 — 144,664
’23 11,945 18,695 7,505 — 133,937
’22 6,486 16,678 4,084 20,272 75,792
’21 7,357 14,608 6,123 14,420 62,297
’20 6,495 14,271 5,450 14,264 66,204
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 29,766
’24 — — — — 65,305
’23 — — — — 39,111
’22 — — — — 19,355
’21 — — — — 104,312
’20 — — — — 182,220
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — 79,394 — — —
’25 — 11,362 — — 25,105
’24 — 25,177 — — 61,419
’23 — 28,671 — — 35,416
’22 — 45,265 — — 14,946
’21 — 58,477 — — 100,747
’20 — 159,338 — — 178,710
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.00 — — — —
’25 1.95 — 1.40 — 6.05
’24 2.70 — 1.70 — 6.20
’23 2.60 0.34 1.45 — 5.70
’22 0.70 0.27 0.48 0.24 3.70
’21 0.95 0.17 0.85 0.09 3.10
’20 0.45 0.01 0.35 0.03 0.95
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 28.62 39.63 38.23 35.35 17.95 24.31 24.77 31.51 36.93 45.66

Analyst estimates 2026–2028

Powerpack
High 43.07 51.86 55.89 44.93 39.37 32.43 38.61 42.47 49.86 79.97
People
People Employees 241,000 228,687 235,217 235,351 226,059 226,059 219,199 220,861 211,304 208,720
Revenue/emp, $m 0.21 0.29 0.32 0.35 0.29 0.28 0.35 0.61 0.68 0.64
Income, $m
Income, $m Revenue 50,320 66,639 75,436 82,685 66,204 62,297 75,792 133,937 144,664 134,263
Gross margin, % 100.00 80.76 74.65 70.69 78.58 84.43 70.38 51.42 47.53 53.02
EBT 7,112 17,167 19,890 13,347 8,777 18,906 17,058 30,348 32,309 29,907
EBT margin, % 14.13 25.76 26.37 16.14 13.26 30.35 22.51 22.66 22.33 22.27
Net income 7,112 17,167 19,890 13,347 8,777 18,906 17,058 30,348 32,309 29,907
Depreciation 5,212 1,862 1,933 10,519 5,241 4,286 3,850 3,466 4,080 4,916
Per share, $
Per share, $ Revenue 12.74 16.68 18.96 20.51 16.41 15.42 19.09 34.38 39.40 38.52
Earnings 0.35 2.42 3.15 1.50 0.95 3.10 3.75 5.75 6.25 6.05
Cash flow 17.46 (2.62) 8.17 7.38 45.17 25.82 4.88 10.04 17.79 8.54
Capex (0.52) (0.61) (0.76) (0.90) (0.87) (0.88) (1.11) (0.95) (1.06) (1.34)
Free cash flow 16.93 (3.24) 7.41 6.48 44.30 24.94 3.76 9.09 16.73 7.20
Book value 46.22 49.12 48.82 47.79 50.82 51.19 46.65 49.44 52.37 59.01
Shares, m 3,951 3,994 3,979 4,032 4,034 4,039 3,970 3,896 3,671 3,485
Valuation, ×
Valuation, × P/E 116.83 174.70 12.65 15.81 30.86 14.28 18.76 8.66 7.99 10.15
P/S 3.21 4.42 3.02 3.63 2.57 2.88 2.73 2.66 3.66 6.39
P/B 0.88 1.13 0.92 0.95 0.60 0.70 0.77 0.85 0.94 1.36
EV/Sales (6.07) (9.50) (7.71) (10.46) (14.67) (16.31) (14.54) (11.79) (13.57) (15.70)
EV/FCF (2.02) (2.93) (2.84) (2.51) (1.75) (2.14) (2.29) (2.37) (4.22) (6.05)
Cash, $m
Cash, $m Operating cash flow 68,959 (10,478) 32,515 29,743 182,220 104,312 19,355 39,111 65,305 29,766
Capex (2,057) (2,452) (3,044) (3,632) (3,510) (3,565) (4,409) (3,695) (3,886) (4,661)
Free cash flow 66,902 (12,930) 29,471 26,111 178,710 100,747 14,946 35,416 61,419 25,105
Balance, $m
Balance, $m Working capital (203,319) (165,191) (171,354) (202,662) (262,431) (207,875) (165,611) (228,840) (263,079) (328,164)
Total debt 86,899 92,397 107,779 129,155 117,443 99,044 100,439 118,871 131,743 128,081
Net debt (466,968) (590,561) (582,896) (568,660) (699,303) (848,404) (805,808) (819,016) (819,091) (912,386)
Shareholders’ equity 182,578 196,224 194,249 192,668 204,995 206,777 185,197 192,610 192,273 205,666
Returns, %
Returns, % ROA 0.05 0.40 0.50 0.23 0.14 0.42 0.49 0.75 0.76 0.68
ROIC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ROE 0.68 5.11 6.46 3.09 1.96 6.12 7.32 11.87 11.91 10.61
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Mar 2026

Charts ten years each

HSBC Holdings plc vs peers in Banks Diversified (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BAC Bank of America Corporation $361.5B 11.9× 12.0× −0.94% (below 0%: shrinking) −8.97% (below 0%: shrinking) +418.04% (above 0%: growing) 62.72% 0.00% Compare
HSBC HSBC Holdings plc $324.0B 13.3× — −18.77% (below 0%: shrinking) −24.07% (below 0%: shrinking) +75.40% (above 0%: growing) 100.00% 0.00%
SMFG Sumitomo Mitsui Financial Group Inc $311.3B 9.3× — +17.73% (above 0%: growing) +85.19% (above 0%: growing) −63.80% (below 0%: shrinking) 58.44% 0.00% Compare
WFC Wells Fargo & Company $248.4B 11.5× 11.7× +4.25% (above 0%: growing) +17.18% (above 0%: growing) +160.40% (above 0%: growing) 65.75% 0.00% Compare
MUFG Mitsubishi UFJ Financial Group, Inc. $246.1B 17.0× — +21.62% (above 0%: growing) +32.35% (above 0%: growing) −145.30% (below 0%: shrinking) 61.56% 0.00% Compare
C Citigroup Inc. $206.7B 12.1× 12.2× +4.08% (above 0%: growing) +52.35% (above 0%: growing) +33.24% (above 0%: growing) 52.26% 0.00% Compare
SAN Banco Santander, S.A. $195.8B 10.7× 10.1× +4.44% (above 0%: growing) +8.00% (above 0%: growing) −105.65% (below 0%: shrinking) 100.00% 0.00% Compare
UBS UBS Group AG $146.3B 15.5× 14.4× −40.29% (below 0%: shrinking) +21.33% (above 0%: growing) −53.01% (below 0%: shrinking) 100.00% 0.00% Compare
BBVA Banco Bilbao Viscaya Argentaria S.A. $141.0B 11.7× 7.7× +23.54% (above 0%: growing) +19.23% (above 0%: growing) +439.38% (above 0%: growing) 100.00% 0.00% Compare
Median of peers $226.4B 11.8× 11.9× +4.35% +20.28% −9.89% 64.24% 0.00%

All 14 Banks Diversified stocks →

HSBC Holdings plc (HSBC) key facts

  • HSBC Holdings plc (HSBC) is a Banks Diversified company in the Financial sector, traded in the US as an ADR.
  • As of October 16, 2026, HSBC traded at $94.57, a market capitalization of $324.0 billion.
  • HSBC Holdings plc pays an annual dividend of $3.75 per share, a yield of 3.97%, with a payout ratio of 53.2%.
  • Return on equity was 10.6% and debt-to-equity 0.67.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

HSBC Holdings plc (HSBC) Latest News

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stockrow.com/HSBC · Data as of Mar 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com