HSBC Holdings plc
- Open
- 103.28
- Day high
- 103.77
- Day low
- 102.91
- Prev close
- 103.53
- Volume
- 697K
- Mkt cap
- $354.2B
- P/E (TTM)
- 14.7
- EPS (TTM)
- $7.00
- P/B
- 1.8
- P/S
- 2.6
- Yield
- 3.63%
- Per share
- $3.74
HSBC Holdings plc (HSBC) is a Financial Services company listed on NYSE. The stock is up 61% over the past year. Drillr has 2 published research articles covering HSBC.
HSBC Holdings plc (HSBC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HSBC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 4, 2026 | $2.24 | $2.25 | +0.4% | $19.0B | +2.1% |
| May 5, 2026 | $2.18 | $2.20 | +0.9% | $19.1B | +2.8% |
| Feb 25, 2026 | $1.80 | $1.85 | +2.8% | $17.7B | +4.0% |
| Jul 30, 2025 | $1.62 | $1.95 | +20.4% | $14.4B | -12.4% |
| Feb 19, 2025 | $1.41 | $1.45 | +2.8% | $17.0B | +2.2% |
| Jul 31, 2024 | $1.61 | $1.65 | +2.5% | $16.5B | +2.5% |
| Apr 30, 2024 | $1.61 | $1.70 | +5.6% | $17.3B | -1.6% |
| Feb 21, 2024 | $0.90 | $0.57 | -36.7% | $13.6B | -11.7% |
| Aug 1, 2023 | $1.50 | $1.70 | +13.3% | $20.0B | +26.3% |
| May 1, 2023 | $1.75 | $2.60 | +48.6% | $16.5B | +1.2% |
| Feb 21, 2023 | $1.17 | $1.15 | -1.7% | $21.1B | +45.4% |
| Aug 1, 2022 | $0.97 | $1.35 | +39.2% | $15.0B | +18.8% |
HSBC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 25, 2026 | Palomaki Daniel Scottofficer: Global Financial Controller | Grant | 76 | — |
| May 26, 2026 | Palomaki Daniel Scottofficer: Global Financial Controller | Grant | 88 | — |
| May 11, 2026 | Palomaki Daniel Scottofficer: Global Financial Controller | Sell | 23,123 | $18.11 |
| Mar 30, 2026 | Bingham Jonathanofficer: Global Financial Controller | Buy | 13 | $15.81 |
| Mar 24, 2026 | Bingham Jonathanofficer: Global Financial Controller | Grant | 792 | — |
Source: HSBC SEC Form 4 filings, latest Aug 25, 2026. For informational purposes only — not investment advice.
See the full HSBC insider & 13F page →HSBC research & analysis
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HSBC Holdings plc company profile
Overview
HSBC Holdings plc (LSE:HSBA) is one of the world's largest banking and financial services organizations, founded in 1865 and headquartered in London, United Kingdom. Originally established as the Hongkong and Shanghai Banking Corporation to finance trade between Europe and Asia, HSBC has evolved into a global financial institution with operations spanning across Asia, Europe, North America, and other international markets. The bank has undergone significant strategic transformation in recent years, focusing on its core international wholesale banking capabilities while divesting from non-core retail operations in markets like the United States and Canada. Today, HSBC positions itself as a leading international bank with particular strength in connecting East and West through its extensive global network.
Business
HSBC operates as a diversified international bank providing comprehensive banking and financial services to individuals, businesses, and institutions worldwide. The company operates through three main business segments that collectively generated approximately $143 billion in revenue in 2024. The Wealth and Personal Banking segment serves individual customers and high-net-worth individuals, offering traditional retail banking products such as current and savings accounts, mortgages, personal loans, and credit cards. This division also provides wealth management services including investment products, insurance, asset management, and private banking solutions. The wealth management component has been a particular growth focus, with the bank attracting significant net new invested assets and expanding its capabilities especially in Asian markets. The Commercial Banking segment caters to small and medium-sized enterprises, mid-market companies, and large corporations. Services include business lending, treasury management, cash management solutions, trade finance, foreign exchange products, commercial insurance, and capital markets services. This segment leverages HSBC's international network to facilitate cross-border trade and commerce, particularly between Asia and other global markets. The Global Banking and Markets segment serves large corporations, institutional clients, governments, and sophisticated investors. It provides investment banking services, capital markets solutions, foreign exchange and derivatives trading, securities services, and principal investment activities. This division capitalizes on HSBC's global presence to offer complex financial solutions and market-making services across multiple jurisdictions and currencies. HSBC's business model is built around its international connectivity, particularly its strong presence in Asia (especially Hong Kong) combined with its London headquarters and global network. The bank has been strategically focusing on markets where it has competitive advantages while exiting regions where it lacks scale or strategic importance.
Revenue model
HSBC generates revenue through multiple streams typical of diversified banking operations. Net Interest Income (NII) represents the largest component, earned from the spread between interest charged on loans and interest paid on deposits. In 2024, banking NII was approximately $43 billion. The bank also generates substantial fee and commission income from wealth management services, transaction banking, trade finance, foreign exchange services, and investment banking activities. The bank's customers span from individual retail clients to multinational corporations and institutional investors. Retail customers pay for banking services, mortgages, and wealth management products. Commercial clients pay for lending, cash management, trade finance, and treasury services. Institutional clients generate revenue through capital markets transactions, securities services, and complex financial products. Several factors significantly impact HSBC's profitability margins. Interest rate environments directly affect net interest margins - rising rates generally boost NII while falling rates compress margins, though HSBC has implemented structural hedging strategies to reduce rate sensitivity. Credit quality influences expected credit losses, with economic downturns potentially increasing loan loss provisions. Regulatory capital requirements affect the bank's ability to deploy capital efficiently and return excess funds to shareholders. Competitive pressures in key markets, particularly from local banks in Asia and digital challengers globally, can compress margins and require increased technology investment. Geopolitical tensions between China and Western nations present unique challenges given HSBC's significant exposure to both Hong Kong/China and UK/US markets. Currency fluctuations impact reported results given the bank's multi-currency operations, though natural hedging exists through geographically diversified operations. The bank's cost base is influenced by inflation, regulatory compliance requirements, and technology investment needs. HSBC has been managing costs through efficiency programs while investing approximately 22% of its cost base in technology to remain competitive in digital banking and meet evolving customer expectations.
Competitive moat
HSBC's primary competitive moat stems from its unique international network and connectivity, particularly its position as a bridge between Eastern and Western financial markets. The bank's deep-rooted presence in Hong Kong, combined with its London headquarters and global reach, creates significant barriers to entry for competitors seeking to serve multinational clients with complex cross-border needs. This network effect becomes more valuable as international trade and investment flows increase. The bank's regulatory licenses and relationships across multiple jurisdictions represent another defensive position. Obtaining banking licenses, building regulatory relationships, and establishing operational infrastructure across HSBC's geographic footprint would require enormous capital investment and years of relationship building for potential competitors. HSBC's scale in transaction banking and trade finance provides competitive advantages through operational efficiency and the ability to offer comprehensive services that smaller banks cannot match. The bank's wholesale transaction banking capabilities, foreign exchange expertise, and established correspondent banking relationships create switching costs for corporate clients who rely on seamless international operations. However, HSBC's moat faces several challenges. Digital disruption threatens traditional banking relationships as fintech companies and digital banks offer more convenient and cost-effective solutions for many banking services. Regulatory fragmentation and increasing compliance costs reduce the advantages of global scale in some areas. Geopolitical tensions between China and Western nations create unique vulnerabilities for HSBC given its exposure to both sides, potentially forcing difficult strategic choices that could weaken its international connectivity advantage. The strength of HSBC's moat varies by business segment. The international wholesale banking and transaction banking services maintain stronger defensive positions due to complexity and relationship intensity, while retail banking faces more direct competition from local and digital competitors. The wealth management business benefits from relationship stickiness but must continuously invest in capabilities to maintain competitiveness against specialized wealth managers and robo-advisors.
Risks & safety
HSBC demonstrates a relatively strong margin of safety typical of major international banks, though with some considerations around its complex global operations. • Capital Position: CET1 ratio of 14.8% provides substantial buffer above regulatory minimums, indicating strong solvency position • Liquidity: Strong cash position of $284 billion and current ratio of 1.46x, though banking liquidity metrics differ from traditional corporate analysis • Debt Levels: As a bank, traditional debt metrics are less applicable; focus on capital ratios and deposit funding stability • Profitability: Strong 2024 performance with $32 billion net income and 13% return on equity • Valuation Metrics: Trading at P/E of 7.6x and P/B of 0.98x, suggesting reasonable valuation relative to book value and earnings • Dividend Coverage: Sustainable dividend policy with 50% payout ratio target and strong cash generation of $61 billion free cash flow • Risk Considerations: Geopolitical exposure to China/Hong Kong tensions, regulatory complexity across multiple jurisdictions, and sensitivity to global economic cycles present ongoing risks that require monitoring
Recent development
HSBC has undergone significant strategic transformation over recent years, focusing on portfolio simplification and geographic concentration. The bank completed major divestments including the sale of its US mass market retail operations, French retail banking, and Canadian banking business, allowing management to concentrate resources on markets where HSBC maintains competitive advantages. The bank implemented a major organizational restructuring in 2024, simplifying from five regions to two and reducing the Group Executive Committee from 18 to 12 members. This restructuring created four core business segments focused on Hong Kong and UK Banking, Corporate & Institutional Banking, and International Wealth and Premier Banking, designed to improve operational efficiency and decision-making speed. Wealth management expansion has been a key strategic priority, with the bank investing heavily in capabilities across Asia and the Middle East. HSBC attracted $84 billion in net new invested assets in 2023 and continued strong performance in 2024, including the planned acquisition of Citi's wealth business in mainland China to strengthen its position in this growing market. The bank has significantly enhanced its digital and technology capabilities, now investing 22% of its cost base in technology. This includes expanding mobile banking services across 24 markets, launching new digital trade finance platforms, and developing blockchain-based solutions for bond issuance and trade finance. Capital management strategy has evolved to prioritize shareholder returns while maintaining growth optionality. HSBC distributed $34.4 billion to shareholders over 18 months through 2024, including regular dividends and substantial share buyback programs, while maintaining strong capital ratios for potential organic growth and selective acquisitions. Risk management improvements include reducing interest rate sensitivity from $7 billion to $2.7 billion through structural hedging strategies, providing more stable net interest income across different rate environments. The bank has also strengthened its position in sustainable finance, reaching $211 billion in sustainable financing and investment commitments.
HSBC company profile · for informational purposes only — not investment advice.
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