COVERAGE / HSBC / Financials

HSBC HOLDINGS PLC

Savings Institution, Federally Chartered

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating income

$28bn

Prior / $29.4bn

Change / -4.77%

SOURCE / 2026-02-26

Net income

$23.13bn

Prior / $25bn

Change / -7.47%

SOURCE / 2026-02-26

Diluted EPS

$1.20

Prior / $1.24

Change / -3.23%

SOURCE / 2026-02-26

Free cash flow

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-26

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-26

Return on avg. equity

12.07%

Prior / 13.50%

Change / -1.43 pp

SOURCE / 2026-02-26

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 23131000000,
    "accn": "0001089113-26-000010",
    "fy": 2025,
    "fp": "FY",
    "form": "20-F",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "ifrs-full:ProfitLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 27996000000,
    "accn": "0001089113-26-000010",
    "fy": 2025,
    "fp": "FY",
    "form": "20-F",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "ifrs-full:ProfitLossFromOperatingActivities",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 1.2,
    "accn": "0001089113-26-000010",
    "fy": 2025,
    "fp": "FY",
    "form": "20-F",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "ifrs-full:DilutedEarningsLossPerShare",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 29766000000,
    "accn": "0001089113-26-000010",
    "fy": 2025,
    "fp": "FY",
    "form": "20-F",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 3233034000000,
    "accn": "0001089113-26-000010",
    "fy": 2025,
    "fp": "FY",
    "form": "20-F",
    "filed": "2026-02-26",
    "frame": "CY2025Q4I",
    "tag": "ifrs-full:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 3027368000000,
    "accn": "0001089113-26-000010",
    "fy": 2025,
    "fp": "FY",
    "form": "20-F",
    "filed": "2026-02-26",
    "frame": "CY2025Q4I",
    "tag": "ifrs-full:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 198225000000,
    "accn": "0001089113-26-000010",
    "fy": 2025,
    "fp": "FY",
    "form": "20-F",
    "filed": "2026-02-26",
    "frame": "CY2025Q4I",
    "tag": "ifrs-full:EquityAttributableToOwnersOfParent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	Not available	$23.13bn	Not available	$1.20
2024-12-31	Not available	$25bn	Not available	$1.24
2023-12-31	Not available	$24.56bn	Not available	$1.14
2022-12-31	Not available	$16.25bn	Not available	$0.72

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	Unavailable	Unavailable	18.76x	10
P/S	Unavailable	Unavailable	3.26x	2
P/B	Unavailable	Unavailable	5.21x	2
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	Unavailable	Unavailable	10.65%	2

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Not calculated: instrument/share basis requires further review. DAILY-BAR SOURCE ↗

Company & operating context

HSBC HOLDINGS PLC is an SEC-reporting issuer listed on NYSE under HSBC. Its SEC industry description is Savings Institution, Federally Chartered. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Banks, insurers, exchanges and asset managers earn income through different balance-sheet and fee models. Conventional industrial cash-flow ratios may not be economically comparable.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

20-FFILED / 2026-02-26PERIOD / 2025-12-31

HSBC filed this 20-F on 2026-02-26 for the reported period 2025-12-31. Reading focus: Net interest income, credit provisions, fee income, underwriting results and capital adequacy. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0073HSBCEarnings Review

HSBC: the annual earnings and cash-flow comparison ↗

HSBC HOLDINGS PLC

Research abstract

A two-period review of HSBC revenue, profitability and cash conversion; reported revenue growth was not available.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0074HSBCCompany Research

HSBC: reading the FY2025 financial structure ↗

HSBC HOLDINGS PLC

Research abstract

Annual revenue of not available and net income of USD 23.131 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Credit losses, deposit pricing, reserve assumptions, market liquidity and regulatory capital.

Net interest income, credit provisions, fee income, underwriting results and capital adequacy.

FINANCIALS SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-26
SEC annual filing · 2024-12-31 ↗Source date 2026-02-26
SEC annual filing · 2023-12-31 ↗Source date 2026-02-26
SEC annual filing · 2022-12-31 ↗Source date 2025-02-20
SEC issuer record ↗Source date 2026-09-18