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HSBC (HSBC)

Market Price (10/16/2025): $66.41 | Market Cap: $232.7 Bil
Sector: Financials | Industry: Diversified Banks

HSBC (HSBC)

Market Price (10/16/2025): $66.41
Market Cap: $232.7 Bil
Sector: Financials
Industry: Diversified Banks

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.7%		  
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -50%		  
2 Low stock price volatility
Vol 12M is 25%		  
3 Capital ratio is >2x the minimum of 6%
Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 18%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.7%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -50%
2 Low stock price volatility
Vol 12M is 25%
3 Capital ratio is >2x the minimum of 6%
Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 18%

Market Valuation & Key Metrics

HSBCS&P 500
REVENUE GROWTHFAIR
Rev LTM ($ Bil)69.1
Rev Chg Q5.7%6.2%
Rev Chg LTM6.9%5.2%
Rev Chg 3Y Avg8.3%5.4%
PROFITABILITYGOOD
Op Inc LTM ($ Bil)�
CFO LTM ($ Bil)�
Net Inc LTM ($ Bil)18.9
Net Inc Mgn27.4%12.7%
VALUATIONLOW
P/S3.43.3
P/E12.424.0

HSBC Stock

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
HSBC Return-32%21%8%39%34%41%133%
Peers Return-19%33%-18%16%36%24%74%
S&P 500 Return16%27%-19%24%23%13%103%

Monthly Win Rates [3]
HSBC Win Rate33%58%42%75%67%78% 
Peers Win Rate45%60%42%53%62%62% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
HSBC Max Drawdown-52%-2%-13%0%-8%-3% 
Peers Max Drawdown-51%-4%-29%-17%-5%-17% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: JPM, BAC, WFC, C, USB. See HSBC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/15/2025 (YTD)

Downturns Compared

Unique KeyEventHSBCS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-34.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven52.9%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven132 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-54.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven117.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven998 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-35.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven54.5%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven2015 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-76.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven321.9%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1480 days


How Low Can It Go?

HSBC's stock fell -34.6% during the 2022 Inflation Shock from a high on 2/8/2022. A -34.6% loss requires a 52.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Interactive Breakdown

HSBC Interactive Breakdown Analysis

Better Bets than HSBC (HSBC)

 HSBCBetter Performance than HSBC
MetricValueIndustry (Diversified Banks)
Rev Chg LTM6.9%JPM (8.2%), RY (16.4%), TD (10.1%), BMO (9.9%), BNS (9.0%)
Rev Chg 3Y Avg8.3%JPM (13.5%), RY (9.9%), TD (10.6%), UBS (9.7%), BMO (10.2%)
Total Yield8.1%WFC (9.3%), RY (9.3%), TD (15.1%), BMO (9.5%), BNS (12.3%)
 HSBCBetter Performance than HSBC
MetricValueAll Other Sectors
Rev Chg LTM6.9%NVDA (71.6%), MSFT (14.9%), GOOGL (13.1%), AMZN (10.9%), META (19.4%)
Rev Chg 3Y Avg8.3%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%), META (13.0%)
Total Yield8.1%XOM (10.0%), BABA (38.0%), UNH (8.9%), CVX (9.7%), TM (2152.5%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1HSBC Stock Dropped 5.5% - Have You Assessed the RiskReturn 
2HSBC Dip Buy Analysis  
3HSBC Total Shareholder Return (TSR): 34.4% in 2024 and 26.4% 3-yr compounded annual returns (above peer average)  
4Time To Buy HSBC Stock?Buy or Fear 
5HSBC (HSBC) Operating Cash Flow ComparisonFinancials 
6HSBC (HSBC) Net Income ComparisonFinancials 
7HSBC (HSBC) Stock Has 45% Chance Of Rise In The Next One Month  
8HSBC (HSBC) Stock Has 48% Chance Of Rise In The Next One Month  
9Dates Cached For HSBC  
10HSBC Stock Return ComparisonReturn 
11ARTICLES  
12What’s New With HSBC Stock? August 28th, 2025
13HSBC Fell 5.5% In A Day. What To Do Now?. July 31st, 2025
14Large Cap Stocks Trading Near 52W High July 10th, 2025
15What’s New With HSBC Stock? June 16th, 2025
16What’s Happening With HSBC Stock? May 13th, 2025

Trade Ideas

Select past ideas related to HSBC. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-10.8%-10.8%-12.3%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		1.4%1.4%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.4%3.4%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-1.8%-1.8%-4.9%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		16.0%16.0%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-10.8%-10.8%-12.3%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		1.4%1.4%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.4%3.4%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-1.8%-1.8%-4.9%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		16.0%16.0%0.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NVTSNavitas Semiconductor95.9%324.6%
2BITFBitfarms61.7%334.2%
3UAMYUnited States Antimony44.5%677.4%
4GLUEMonte Rosa Therapeutics44.1%60.1%
5FLNCFluence Energy43.3%35.0%
6SMRNuScale Power39.9%198.0%
7UUUUEnergy Fuels38.8%387.1%
8ASPIASP Isotopes38.5%178.6%
9MVSTMicrovast38.3%201.9%
10TNGXTango Therapeutics37.8%208.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BNTBrookfield Wealth Solutions-33.6%18.5%
2BNBrookfield-33.4%18.9%
3VGVenture Global-29.9% 
4SOCSable Offshore-29.1%-38.3%
5HELEHelen Of Troy-28.5%-67.0%
6ALABAstera Labs-26.4%21.9%
7AIVApartment Investment & Management-26.1%-33.8%
8BBBYBed Bath & Beyond-25.7% 
9USNAUsana Health Sciences-22.6%-42.9%
10FWRDForward Air-18.0%-38.0%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1213.0%386.9%
2QUREuniQure334.2%255.8%
3LACLithium Americas193.2%217.8%
4FLNCFluence Energy185.9%35.0%
5RGTIRigetti Computing181.7%269.2%
6SESSES AI176.6%61.6%
7UAMYUnited States Antimony158.6%677.4%
8NVTSNavitas Semiconductor157.4%324.6%
9ASTSAST SpaceMobile136.7%353.5%
10QBTSD-Wave Quantum135.9%433.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1ANGXAngel Studios-46.4% 
2SOCSable Offshore-37.0%-38.3%
3VGVenture Global-35.1% 
4USNAUsana Health Sciences-32.9%-42.9%
5FLYFirefly Aerospace-32.5% 
6ALABAstera Labs-32.4%21.9%
7FWRDForward Air-31.7%-38.0%
8LDIloanDepot-29.5%53.4%
9AIVApartment Investment & Management-28.4%-33.8%
10PGYPagaya Technologies-28.1%222.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NVTSNavitas Semiconductor95.9%324.6%
2BITFBitfarms61.7%334.2%
3UAMYUnited States Antimony44.5%677.4%
4GLUEMonte Rosa Therapeutics44.1%60.1%
5FLNCFluence Energy43.3%35.0%
6SMRNuScale Power39.9%198.0%
7UUUUEnergy Fuels38.8%387.1%
8ASPIASP Isotopes38.5%178.6%
9MVSTMicrovast38.3%201.9%
10TNGXTango Therapeutics37.8%208.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BNTBrookfield Wealth Solutions-33.6%18.5%
2BNBrookfield-33.4%18.9%
3VGVenture Global-29.9% 
4SOCSable Offshore-29.1%-38.3%
5HELEHelen Of Troy-28.5%-67.0%
6ALABAstera Labs-26.4%21.9%
7AIVApartment Investment & Management-26.1%-33.8%
8BBBYBed Bath & Beyond-25.7% 
9USNAUsana Health Sciences-22.6%-42.9%
10FWRDForward Air-18.0%-38.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for HSBC

Financials

HSBCJPMBACWFCCUSBMedian
NameHSBC JPMorgan.Bank of .Wells Fa.CitigroupU.S. Ban. 
Mkt Price66.41305.6952.2886.4699.7846.4576.44
Mkt Cap232.7852.5401.4279.5185.272.4256.1
Rev LTM69,072175,656103,43581,46283,11327,71582,288
Op Inc LTM-------
FCF LTM--148,6154,550-9,143-93,6867,484-9,143
FCF 3Y Avg--56,10424,36513,467-65,69010,62010,620
CFO LTM--148,6154,550-9,143-87,1657,484-9,143
CFO 3Y Avg--56,10424,36513,467-59,18210,62010,620

Growth & Margins

HSBCJPMBACWFCCUSBMedian
NameHSBC JPMorgan.Bank of .Wells Fa.CitigroupU.S. Ban. 
Rev Chg LTM6.9%8.2%5.4%-1.7%6.3%1.7%5.8%
Rev Chg 3Y Avg8.3%13.5%5.0%2.8%4.3%6.5%5.8%
Rev Chg Q5.7%6.7%6.0%-0.6%8.1%2.0%5.9%
QoQ Delta Rev Chg LTM1.4%1.6%1.5%-0.1%2.0%0.5%1.5%
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM--84.6%4.4%-11.2%-104.9%27.0%-11.2%
CFO/Rev 3Y Avg--32.5%24.8%16.4%-74.6%39.0%16.4%
FCF/Rev LTM--84.6%4.4%-11.2%-112.7%27.0%-11.2%
FCF/Rev 3Y Avg--32.5%24.8%16.4%-82.8%39.0%16.4%

Valuation

HSBCJPMBACWFCCUSBMedian
NameHSBC JPMorgan.Bank of .Wells Fa.CitigroupU.S. Ban. 
Mkt Cap232.7852.5401.4279.5185.272.4256.1
P/S3.44.93.93.42.22.63.4
P/EBIT-------
P/E12.315.114.413.613.110.513.3
P/CFO--5.788.2-30.6-2.19.7-2.1
Total Yield8.1%6.6%6.9%9.3%7.7%13.8%7.9%
Dividend Yield0.0%0.0%0.0%1.9%0.0%4.3%0.0%
FCF Yield 3Y Avg--7.4%8.7%8.1%-56.0%18.4%8.1%
D/E0.60.60.90.82.01.10.8
Net D/E-0.5-0.5-0.8-0.6-1.0-1.0-0.7

Returns

HSBCJPMBACWFCCUSBMedian
NameHSBC JPMorgan.Bank of .Wells Fa.CitigroupU.S. Ban. 
1M Rtn-4.4%-0.6%3.3%6.2%-0.0%-4.8%-0.3%
3M Rtn7.0%7.5%14.2%8.8%11.6%2.8%8.2%
6M Rtn29.9%34.4%41.7%36.7%63.0%25.5%35.6%
12M Rtn60.5%40.4%27.0%40.2%64.2%3.3%40.3%
3Y Rtn218.5%196.0%78.5%116.9%158.8%25.5%137.9%
1M Excs Rtn-4.7%-1.6%2.2%5.3%-1.8%-4.0%-1.7%
3M Excs Rtn-0.1%0.0%5.9%3.2%2.0%-2.1%1.0%
6M Excs Rtn5.7%8.8%15.6%11.9%33.8%-0.7%10.3%
12M Excs Rtn43.9%25.7%12.8%30.2%41.7%-9.8%28.0%
3Y Excs Rtn134.8%128.8%-0.1%41.2%84.3%-49.9%62.8%

FDIC Bank Data

Bank Loans

[valid:true, table:

FDIC Data As Of3312025
LOAN DETAILS 
All Real Estate Loans ($ Bil)25
Farm Loans ($ Bil)0
Commercial and Industrial Loans ($ Bil)21
Loans to Individuals (CC, revolving credit, auto, other) (non-mortgage) ($ Bil)0
Commercial Real Estate Loans not Secured by Real Estate ($ Bil)0
Commercial Real Estate Owner-Occupied ($ Bil)0
Commercial Real Estate Other Non-Farm Non-Residential ($ Bil)2
Total Net Loans ($ Bil)57
, map:[FDIC Data As Of:3312025, LOAN DETAILS:null, All Real Estate Loans ($ Bil):25.404030, Farm Loans ($ Bil):0.111567, Commercial and Industrial Loans ($ Bil):21.269162, Loans to Individuals (CC, revolving credit, auto, other) (non-mortgage) ($ Bil):0.224042, Commercial Real Estate Loans not Secured by Real Estate ($ Bil):0.073700, Commercial Real Estate Owner-Occupied ($ Bil):0.297715, Commercial Real Estate Other Non-Farm Non-Residential ($ Bil):1.824070, Total Net Loans ($ Bil):57.079939]]

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/30/20254/29/20252/20/202510/29/20247/31/20244/30/20242/22/202410/30/20238/1/20235/2/20232/22/202310/25/2022
Key Financials Quarterly            
Total Revenue17,65717,74016,74916,92616,70117,02015,03415,85120,03016,53015,03713,917
Net Income4,7337,3243516,5166,52810,584-286,0536,76310,7454,5022,465
EPS1.301.950.101.701.752.700.001.451.702.601.100.50
Key Financials TTM            
Total Revenue TTM69,07268,11667,39665,68164,60667,93567,44567,44865,51457,43453,12953,907
Net Income TTM18,92420,71923,97923,60023,13723,37223,53328,06324,47523,06115,55912,987
Growth Rates Quarterly            
Total Revenue Growth5.7%4.2%11.4%6.8%-16.6%3.0%-0.0%13.9%67.6%35.2%-4.9%-6.5%
Net Income Growth-27.5%-30.8%1353.6%7.6%-3.5%-1.5%-100.6%145.6%26.4%231.3%133.3%-39.0%
Margins Quarterly            
Net Income Margin26.8%41.3%2.1%38.5%39.1%62.2%-0.2%38.2%33.8%65.0%29.9%17.7%
Cash & Debt            
Total Cash246,360254,660284,515252,310287,089275,943299,569298,779318,382327,554350,051309,505
Total Debt129,698100,051242,347103,414123,668101,444235,15989,107108,75785,351204,23987,527
Net Debt / (Cash)-116,662-154,609-42,168-148,896-163,421-174,499-64,410-209,672-209,625-242,203-145,812-221,978
Cash Flows Quarterly            
FCF from Operations------------
Cash Flows TTM            
FCF from Operations TTM------------
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-83.6%-61.6%-259.8%------
Return on Invested Capital (ROIC) TTM            
ROIC TTM-60.0%-56.2%-146.0%------

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Wealth and Personal Banking26,84820,772 20,47421,252
Commercial Banking22,39616,207 14,11416,094
Global Banking and Markets15,77114,542 18,65120,314
Corporate Centre-103-1,934 -1,469-2,716
Total64,91249,587 51,77054,944


Assets by Segment
$ Mil20242023202220212020
Global Banking and Markets1,298,0651,305,3191,171,9091,319,3891,310,772
Wealth and Personal Banking915,062873,688905,024869,924793,100
Commercial Banking613,124602,624605,696562,125523,585
Corporate Centre146,296161,872178,074187,189156,354
Currency translation66,1305,78397,23645,537-68,659
Total3,038,6772,949,2862,957,9392,984,1642,715,152


Price Behavior

HSBC Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta1.110.640.800.800.710.67
Up Beta-0.130.260.250.560.530.61
Down Beta0.610.11-0.401.030.910.71
Up Capture198%139%161%105%94%57%
Bmk +ve Days13233574144420
Stock +ve Days15294277156434
Down Capture65%28%106%94%66%79%
Bmk -ve Days8192952107330
Stock -ve Days612214894309

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity5,095,565
Short Interest: % Change Since 9152025-8.2%
Average Daily Volume1,424,917
Days-to-Cover Short Interest3.58
Basic Shares Quantity3,504,600,000
Short % of Basic Shares0.1%

Returns Analyses

SEC Filings

Expand for More

Report DateFiling DateFiling
630202573020256-K 6/30/2025
331202542920256-K 3/31/2025
12312024220202520-F 12/31/2024
9302024102920246-K 9/30/2024
331202443020246-K 3/31/2024
123120232222024Annual 12/31/2023
9302023103020236-K 9/30/2023
630202380120236-K 6/30/2023
12312022222202320-F 12/31/2022
630202280120226-K 6/30/2022
331202142720216-K 3/31/2021
12312020224202120-F 12/31/2020
331202042820206-K 3/31/2020
12312019219202020-F 12/31/2019
331201950320196-K 3/31/2019
12312018220201920-F 12/31/2018

Insider Activity

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Industry Resources

External Quote Links


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