Tearsheet

HSBC (HSBC)

Market Price (11/8/2025): $71.28 | Market Cap: $246.6 Bil
Sector: Financials | Industry: Diversified Banks

HSBC (HSBC)

Market Price (11/8/2025): $71.28
Market Cap: $246.6 Bil
Sector: Financials
Industry: Diversified Banks

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1%	Trading close to highs Dist 52W High is -0.6%, Dist 3Y High is -0.6%
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 -60%
2	Low stock price volatility Vol 12M is 24%
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 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1%
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 -60%
2	Low stock price volatility Vol 12M is 24%
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%
4	Trading close to highs Dist 52W High is -0.6%, Dist 3Y High is -0.6%

Market Valuation & Key Metrics

	11/8/25	2024	2023	2022	2021
Share Price CYE	$71.28	$46.85	$34.85	$24.99	$23.18
Market Cap CYE ($ Bil)	246.6	168.2	133.3	98.6	95.9
Total Debt ($ Bil)	98.2	242.3	235.2	204.2	223.6
Total Cash ($ Bil)	246.8	284.5	299.6	350.1	422.4
Enterprise Value ($ Bil)	98.0	410.5	368.5	302.8	319.5
Valuation Ratios
P/S TTM	3.5	2.7	2.5	2.3	1.9
P/EBIT TTM	0.0	0.0	0.0	0.0	0.0
P/E TTM	13.9	7.6	6.7	8.0	8.8
Sector Ratios
P/S TTM (Sector)	3.0	3.1	2.8	2.8	3.4
P/EBIT TTM (Sector)	6.4	6.9	7.0	6.7	6.8
P/E TTM (Sector)	11.9	11.5	10.1	9.3	9.9

	11/8/25	2024	2023
Share Price CYE	$71.28	$46.85	$34.85
Market Cap CYE ($ Bil)	246.6	168.2	133.3
Total Debt ($ Bil)	98.2	242.3	235.2
Total Cash ($ Bil)	246.8	284.5	299.6
Enterprise Value ($ Bil)	98.0	410.5	368.5
Valuation Ratios
P/S TTM	3.5	2.7	2.5
P/EBIT TTM	0.0	0.0	0.0
P/E TTM	13.9	7.6	6.7
Sector Ratios
P/S TTM (Sector)	3.1	3.1	2.8
P/EBIT TTM (Sector)	6.5	6.9	7.0
P/E TTM (Sector)	11.9	11.5	10.1

	HSBC	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	70.0
Rev Chg Q	5.8%	7.2%
Rev Chg LTM	6.6%	6.0%
Rev Chg 3Y Avg	9.4%	5.5%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	�
Net Inc LTM ($ Bil)	17.7
Net Inc Mgn	25.3%	13.0%
VALUATION	LOW
P/S	3.5	3.2
P/E	13.9	23.6

AI Generated Analysis | Feedback

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HSBC Stock

Return (1M):

Factor Drivers of Stock Movement

The 13.5% change in HSBC stock from 8/8/2025 to 11/7/2025 was primarily driven by a 19.8% change in the company's P/E Multiple.

	8082025	11072025	Change
Stock Price ($)	62.79	71.27	13.51%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	69072.00	70046.00	1.41%
Net Income Margin (%)	27.40%	25.26%	-7.81%
P/E Multiple	11.63	13.94	19.85%
Shares Outstanding (Mil)	3504.60	3459.40	1.29%
Cumulative Contribution			13.49%

LTM = Last Twelve Months as of date shown

The 27.4% change in HSBC stock from 5/9/2025 to 11/7/2025 was primarily driven by a 45.2% change in the company's P/E Multiple.

	5092025	11072025	Change
Stock Price ($)	55.94	71.27	27.41%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	68116.00	70046.00	2.83%
Net Income Margin (%)	30.42%	25.26%	-16.96%
P/E Multiple	9.59	13.94	45.25%
Shares Outstanding (Mil)	3553.80	3459.40	2.66%
Cumulative Contribution			27.32%

LTM = Last Twelve Months as of date shown

The 60.6% change in HSBC stock from 11/7/2024 to 11/7/2025 was primarily driven by a 104.1% change in the company's P/E Multiple.

	11072024	11072025	Change
Stock Price ($)	44.39	71.27	60.55%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	65681.00	70046.00	6.65%
Net Income Margin (%)	35.93%	25.26%	-29.71%
P/E Multiple	6.83	13.94	104.09%
Shares Outstanding (Mil)	3630.20	3459.40	4.70%
Cumulative Contribution			60.20%

LTM = Last Twelve Months as of date shown

The 220.5% change in HSBC stock from 11/8/2022 to 11/7/2025 was primarily driven by a 106.0% change in the company's P/E Multiple.

	11082022	11072025	Change
Stock Price ($)	22.24	71.27	220.47%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	54263.00	70046.00	29.09%
Net Income Margin (%)	23.93%	25.26%	5.53%
P/E Multiple	6.76	13.94	106.01%
Shares Outstanding (Mil)	3950.40	3459.40	12.43%
Cumulative Contribution			215.52%

LTM = Last Twelve Months as of date shown

Why The Stock Moved

AI Generated Analysis | Feedback

Here are the key points highlighting why HSBC's stock moved by 18% during the approximate time period from July 31, 2025, to today: 1. Strong Q3 2025 Earnings Performance: HSBC reported a 5% increase in revenue to $17.8 billion and a 15% rise in net interest income for the third quarter of 2025. While reported profit before tax was lower due to legal provisions, constant currency profit before tax, excluding notable items, saw a 3% increase, and the annualized return on average tangible equity (excluding notable items) rose to 16.4%, with management expressing optimism for a mid-teens return on tangible equity for the full year 2025.

2. Positive Analyst Upgrades and Price Target Revisions: Several prominent analysts showed increased confidence in HSBC. Notably, Zacks and BNP Paribas upgraded their ratings to "strong-buy," and Citigroup raised its price objective. AlphaValue/Baader Europe also highlighted strong revenue performance, increasing 2025 and 2026 earnings per share projections and suggesting a potential 13.5% stock upside based on their price target.

3. Increased Shareholder Returns through Dividends: HSBC announced an increase in its quarterly dividend to $0.50 per share, which translates to a 2.8% yield. This increased dividend, with an ex-dividend date of November 7, 2025, and a payment date of December 18, 2025, signals a commitment to returning capital to shareholders, typically a positive catalyst for stock performance.

4. Share Buyback Program and Cancellation of Shares: On July 31, 2025, HSBC announced a share buyback program. This was followed by the cancellation of 26,782,800 ordinary shares on November 6, 2025, which were repurchased under this program. Such a reduction in outstanding shares generally enhances shareholder value by boosting earnings per share.

5. Strategic Focus and Privatization of Hang Seng Bank: HSBC continued its strategic repositioning towards high-growth markets in Asia and the Middle East, emphasizing wealth management and transaction banking. A significant move in this strategy was the proposal on October 9, 2025, to privatize Hang Seng Bank. This action is expected to provide full control, eliminate minority interest deductions from earnings, simplify the capital structure, and be accretive to earnings per share, reinforcing HSBC's long-term investment in Hong Kong.

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
HSBC Return	-32%	21%	8%	39%	34%	52%	153%
Peers Return	-19%	33%	-18%	16%	36%	26%	76%
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
HSBC Win Rate	33%	58%	42%	75%	67%	70%
Peers Win Rate	45%	60%	42%	53%	62%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
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 11/7/2025 (YTD)

How Low Can It Go

Unique Key	Event	HSBC	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	52.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	132 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-54.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	117.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	998 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-35.3%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	54.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	2015 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-76.3%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	321.9%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1480 days

Compare to JPM, BAC, WFC, C, USB

In The Past

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.

About HSBC (HSBC)

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions. This segment serves personal banking and high net worth individuals. The Commercial Banking segment provides credit and lending, treasury management, payment, cash management, commercial insurance, and investment services; commercial cards; international trade and receivables finance services; foreign exchange products; capital raising services on debt and equity markets; and advisory services. It serves small and medium sized enterprises, mid-market enterprises, and corporates. The Global Banking and Markets segment offers financing, advisory, and transaction services; and credit, rates, foreign exchange, equities, money markets, and securities services; and engages in principal investment activities. It serves government, corporate and institutional clients, and private investors. HSBC Holdings plc was founded in 1865 and is headquartered in London, the United Kingdom.

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Interactive Breakdown

HSBC Interactive Breakdown Analysis

Better Bets than HSBC (HSBC)

	HSBC	Better Performance than HSBC
Metric	Value	Industry (Diversified Banks)
Rev Chg LTM	6.6%	JPM (8.6%), BAC (8.9%), RY (16.4%), C (8.4%), TD (10.1%)
Rev Chg 3Y Avg	9.4%	JPM (13.4%), RY (9.9%), TD (10.6%), UBS (10.9%), BMO (10.2%)
Total Yield	7.2%	BAC (7.5%), WFC (9.6%), RY (9.4%), C (8.0%), TD (15.0%)

	HSBC	Better Performance than HSBC
Metric	Value	Sector (Financials)
Rev Chg LTM	6.6%	JPM (8.6%), MA (14.6%), V (11.3%), BAC (8.9%), MS (17.6%)
Rev Chg 3Y Avg	9.4%	BRK-B (19.8%), JPM (13.4%), MA (13.2%), V (10.9%), AXP (11.6%)
Total Yield	7.2%	BAC (7.5%), WFC (9.6%), RY (9.4%), C (8.0%), TD (15.0%)

	HSBC	Better Performance than HSBC
Metric	Value	All Other Sectors
Rev Chg LTM	6.6%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AVGO (28.0%)
Rev Chg 3Y Avg	9.4%	NVDA (92.0%), MSFT (13.2%), GOOGL (11.0%), AMZN (11.3%), AVGO (24.0%)
Total Yield	7.2%	XOM (9.5%), JNJ (8.3%), BABA (37.9%), CVX (8.3%), UNH (8.7%)

		Best Bets In Financials Sector
	HSBC	CME	KNSL	MTG	NMIH	CACC	ENVA	FNF	TW	PLMR	ACGL
What You Pay
P/E	13.9	26.4	19.5	8.5	7.4	10.5	10.6	14.4	37.0	22.1	8.1
P/EBIT	�	19.8	15.2	6.5	5.5	8.3	8.2	9.2	25.0	17.4	7.1
What You Get
Rev Chg Q	5.8%	-3.0%	19.0%	-0.7%	7.6%	6.0%	16.3%	16.8%	13.3%	53.1%	11.0%
Rev Chg LTM	6.6%	5.8%	18.1%	2.2%	8.9%	10.2%	21.1%	7.4%	22.2%	52.3%	17.5%
Rev Chg 3Y Avg	9.4%	8.9%	32.4%	1.2%	10.3%	7.6%	23.5%	-0.7%	19.7%	32.4%	28.9%
FCF/Rev 3Y Avg	�	61.9%	60.8%	62.2%	58.4%	55.6%	54.7%	50.8%	49.8%	41.2%	38.2%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 21%, alpha of 9.1%, and sharpe of 0.94

Latest Trefis Analyses

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

	Title
0	DASHBOARDS
1	How Low Can HSBC Stock Really Go?
2	HSBC Dip Buy Analysis
3	HSBC Total Shareholder Return (TSR): 34.4% in 2024 and 26.4% 3-yr compounded annual returns (above peer average)
4	Time To Buy HSBC Stock?
5	HSBC (HSBC) Operating Cash Flow Comparison
6	HSBC (HSBC) Net Income Comparison
7	HSBC (HSBC) Stock Has 45% Chance Of Rise In The Next One Month
8	HSBC (HSBC) Stock Has 48% Chance Of Rise In The Next One Month
9	Dates Cached For HSBC
10	HSBC Stock Return Comparison
11	ARTICLES
12	What’s New With HSBC Stock?
13	HSBC Fell 5.5% In A Day. What To Do Now?.
14	Large Cap Stocks Trading Near 52W High
15	What’s New With HSBC Stock?
16	What’s Happening With HSBC Stock?

Trade Ideas

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

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BRO_10312025_Dip_Buyer_FCFYield	10312025	BRO	Brown & Brown	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-1.5%	-1.5%	-4.2%
CPAY_10312025_Dip_Buyer_FCFYield	10312025	CPAY	Corpay	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	6.2%	6.2%	0.0%
EEFT_10312025_Dip_Buyer_FCFYield	10312025	EEFT	Euronet Worldwide	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.7%	-4.7%	-4.9%
GPN_10312025_Dip_Buyer_FCFYield	10312025	GPN	Global Payments	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-2.2%	-2.2%	-2.2%
APO_10102025_Dip_Buyer_FCFYield	10102025	APO	Apollo Asset Management	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	12.0%	12.0%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BRO_10312025_Dip_Buyer_FCFYield	10312025	BRO	Brown & Brown	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-1.5%	-1.5%	-4.2%
CPAY_10312025_Dip_Buyer_FCFYield	10312025	CPAY	Corpay	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	6.2%	6.2%	0.0%
EEFT_10312025_Dip_Buyer_FCFYield	10312025	EEFT	Euronet Worldwide	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.7%	-4.7%	-4.9%
GPN_10312025_Dip_Buyer_FCFYield	10312025	GPN	Global Payments	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-2.2%	-2.2%	-2.2%
APO_10102025_Dip_Buyer_FCFYield	10102025	APO	Apollo Asset Management	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	12.0%	12.0%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ORGO	Organogenesis	0.7	44.7%	75.9%
GMED	Globus Medical	11.3	35.9%	1.4%
KODK	Eastman Kodak	0.6	33.2%	18.6%
GCT	GigaCloud Technology	1.3	30.0%	78.8%
FROG	JFrog	6.9	27.0%	104.0%
PGNY	Progyny	1.9	24.2%	29.7%
TNDM	Tandem Diabetes Care	1.1	22.0%	-54.9%
OS	OneStream	4.1	19.2%	-20.3%
FLGT	Fulgent Genetics	0.8	18.2%	42.7%
UAMY	United States Antimony	1.0	17.8%	370.1%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AIRS	AirSculpt Technologies	0.4	-41.7%	17.9%
FOXF	Fox Factory	0.7	-25.5%	-45.9%
ASTH	Astrana Health	1.3	-23.5%	-19.0%
CERT	Certara	1.4	-23.1%	-18.6%
NTLA	Intellia Therapeutics	1.0	-22.7%	-18.4%
DNA	Ginkgo Bioworks	0.5	-20.8%	-8.9%
SIGA	SIGA Technologies	0.5	-20.0%	20.2%
UI	Ubiquiti	37.0	-19.4%	85.3%
EVCM	EverCommerce	1.7	-19.3%	-15.1%
PSIX	Power Solutions International	1.5	-19.1%	120.8%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	123.6%	233.4%
GDEN	Golden Entertainment	0.8	44.7%	-4.9%
FSLY	Fastly	1.7	39.4%	22.5%
GMED	Globus Medical	11.3	38.9%	1.4%
CSIQ	Canadian Solar	1.9	37.1%	156.0%
HAE	Haemonetics	3.3	36.7%	-12.4%
ESTA	Establishment Labs	1.9	35.6%	41.1%
APPN	Appian	3.0	34.6%	22.2%
XMTR	Xometry	3.3	33.1%	51.9%
ORGO	Organogenesis	0.7	32.5%	75.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
QURE	uniQure	1.5	-58.9%	57.4%
ASPN	Aspen Aerogels	0.3	-52.6%	-67.5%
BHVN	Biohaven	0.8	-52.0%	-77.9%
DD	DuPont de Nemours	16.7	-51.3%	-46.9%
SOC	Sable Offshore	0.5	-48.9%	-76.7%
BLZE	Backblaze	0.3	-43.7%	-3.7%
CCOI	Cogent Communications	1.1	-43.1%	-67.5%
NVTS	Navitas Semiconductor	1.6	-41.8%	119.6%
AIRS	AirSculpt Technologies	0.4	-41.2%	17.9%
ACVA	ACV Auctions	0.9	-40.5%	-75.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
PRAX	Praxis Precision Medicines	3.6	207.2%	118.6%
INBX	Inhibrx Biosciences	1.2	130.5%	424.0%
VTYX	Ventyx Biosciences	0.6	127.2%	300.5%
TERN	Terns Pharmaceuticals	1.7	117.3%	233.4%
PUMP	ProPetro	1.1	95.6%	15.1%
SNDK	SanDisk	34.7	84.7%
REPL	Replimune	0.8	79.5%	-31.4%
CSIQ	Canadian Solar	1.9	78.3%	156.0%
VICR	Vicor	3.9	66.2%	80.9%
ESTA	Establishment Labs	1.9	62.0%	41.1%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SOC	Sable Offshore	0.5	-72.8%	-76.7%
NTLA	Intellia Therapeutics	1.0	-62.6%	-18.4%
QURE	uniQure	1.5	-56.3%	57.4%
FMC	FMC	1.8	-53.2%	-69.9%
BHVN	Biohaven	0.8	-52.1%	-77.9%
ASPN	Aspen Aerogels	0.3	-51.4%	-67.5%
LRN	Stride	3.1	-50.3%	-30.7%
FI	Fiserv	35.1	-49.4%	-69.0%
WOLF	Wolfspeed	2.8	-49.3%
ELF	e.l.f. Beauty	4.2	-49.1%	-41.3%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ORGO	Organogenesis	0.7	44.7%	75.9%
GMED	Globus Medical	11.3	35.9%	1.4%
KODK	Eastman Kodak	0.6	33.2%	18.6%
GCT	GigaCloud Technology	1.3	30.0%	78.8%
FROG	JFrog	6.9	27.0%	104.0%
PGNY	Progyny	1.9	24.2%	29.7%
TNDM	Tandem Diabetes Care	1.1	22.0%	-54.9%
OS	OneStream	4.1	19.2%	-20.3%
FLGT	Fulgent Genetics	0.8	18.2%	42.7%
UAMY	United States Antimony	1.0	17.8%	370.1%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AIRS	AirSculpt Technologies	0.4	-41.7%	17.9%
FOXF	Fox Factory	0.7	-25.5%	-45.9%
ASTH	Astrana Health	1.3	-23.5%	-19.0%
CERT	Certara	1.4	-23.1%	-18.6%
NTLA	Intellia Therapeutics	1.0	-22.7%	-18.4%
DNA	Ginkgo Bioworks	0.5	-20.8%	-8.9%
SIGA	SIGA Technologies	0.5	-20.0%	20.2%
UI	Ubiquiti	37.0	-19.4%	85.3%
EVCM	EverCommerce	1.7	-19.3%	-15.1%
PSIX	Power Solutions International	1.5	-19.1%	120.8%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	123.6%	233.4%
GDEN	Golden Entertainment	0.8	44.7%	-4.9%
FSLY	Fastly	1.7	39.4%	22.5%
GMED	Globus Medical	11.3	38.9%	1.4%
CSIQ	Canadian Solar	1.9	37.1%	156.0%
HAE	Haemonetics	3.3	36.7%	-12.4%
ESTA	Establishment Labs	1.9	35.6%	41.1%
APPN	Appian	3.0	34.6%	22.2%
XMTR	Xometry	3.3	33.1%	51.9%
ORGO	Organogenesis	0.7	32.5%	75.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
QURE	uniQure	1.5	-58.9%	57.4%
ASPN	Aspen Aerogels	0.3	-52.6%	-67.5%
BHVN	Biohaven	0.8	-52.0%	-77.9%
DD	DuPont de Nemours	16.7	-51.3%	-46.9%
SOC	Sable Offshore	0.5	-48.9%	-76.7%
BLZE	Backblaze	0.3	-43.7%	-3.7%
CCOI	Cogent Communications	1.1	-43.1%	-67.5%
NVTS	Navitas Semiconductor	1.6	-41.8%	119.6%
AIRS	AirSculpt Technologies	0.4	-41.2%	17.9%
ACVA	ACV Auctions	0.9	-40.5%	-75.0%

Peer Comparisons for HSBC

Financials

	HSBC	JPM	BAC	WFC	C	USB	Median
Name	HSBC	JPMorgan.	Bank of .	Wells Fa.	Citigroup	U.S. Ban.
Mkt Price	71.27	314.21	53.20	86.04	100.79	47.32	78.66
Mkt Cap	246.6	868.0	397.2	273.8	183.5	73.7	260.2
Rev LTM	70,046	179,430	107,264	82,532	85,244	28,182	83,888
Op Inc LTM	-	-	-	-	-	-	-
FCF LTM	-	-119,748	61,472	-14,218	-75,968	9,900	-14,218
FCF 3Y Avg	-	-65,107	34,244	9,172	-64,799	10,581	9,172
CFO LTM	-	-119,748	61,472	-14,218	-69,391	9,900	-14,218
CFO 3Y Avg	-	-65,107	34,244	9,172	-58,153	10,581	9,172

Growth & Margins

	HSBC	JPM	BAC	WFC	C	USB	Median
Name	HSBC	JPMorgan.	Bank of .	Wells Fa.	Citigroup	U.S. Ban.
Rev Chg LTM	6.6%	8.6%	8.9%	0.2%	8.4%	4.0%	7.5%
Rev Chg 3Y Avg	9.4%	13.4%	5.2%	2.9%	5.0%	6.5%	5.9%
Rev Chg Q	5.8%	8.8%	10.8%	5.3%	9.6%	6.8%	7.8%
QoQ Delta Rev Chg LTM	1.4%	2.1%	2.6%	1.3%	2.3%	1.7%	1.9%
Op Mgn LTM	-	-	-	-	-	-	-
Op Mgn 3Y Avg	-	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	-	-	-	-	-	-	-
CFO/Rev LTM	-	-66.7%	57.3%	-17.2%	-81.4%	35.1%	-17.2%
CFO/Rev 3Y Avg	-	-36.4%	32.7%	11.2%	-72.0%	38.2%	11.2%
FCF/Rev LTM	-	-66.7%	57.3%	-17.2%	-89.1%	35.1%	-17.2%
FCF/Rev 3Y Avg	-	-36.4%	32.7%	11.2%	-80.3%	38.2%	11.2%

Valuation

	HSBC	JPM	BAC	WFC	C	USB	Median
Name	HSBC	JPMorgan.	Bank of .	Wells Fa.	Citigroup	U.S. Ban.
Mkt Cap	246.6	868.0	397.2	273.8	183.5	73.7	260.2
P/S	3.5	4.8	3.7	3.3	2.2	2.6	3.4
P/EBIT	-	-	-	-	-	-	-
P/E	13.9	15.0	13.4	13.0	12.5	10.3	13.2
P/CFO	-	-7.2	6.5	-19.3	-2.6	7.4	-2.6
Total Yield	7.2%	6.7%	7.5%	9.6%	8.0%	14.0%	7.7%
Dividend Yield	0.0%	0.0%	0.0%	2.0%	0.0%	4.3%	0.0%
FCF Yield 3Y Avg	-	-7.5%	11.7%	6.9%	-55.7%	17.3%	6.9%
D/E	0.4	0.6	0.9	0.8	2.0	1.1	0.9
Net D/E	-0.6	-0.3	-0.7	-0.6	-1.2	-1.1	-0.7

Returns

	HSBC	JPM	BAC	WFC	C	USB	Median
Name	HSBC	JPMorgan.	Bank of .	Wells Fa.	Citigroup	U.S. Ban.
1M Rtn	0.4%	3.3%	6.7%	8.5%	4.9%	0.7%	4.1%
3M Rtn	13.5%	9.3%	16.3%	11.1%	9.3%	6.6%	10.2%
6M Rtn	27.4%	25.4%	28.8%	20.1%	42.8%	15.1%	26.4%
12M Rtn	60.6%	35.7%	21.6%	26.6%	52.1%	-0.2%	31.2%
3Y Rtn	220.5%	157.4%	55.2%	97.2%	143.7%	23.8%	120.5%
1M Excs Rtn	6.7%	2.9%	6.9%	8.4%	5.8%	0.6%	6.2%
3M Excs Rtn	7.1%	3.5%	10.3%	5.9%	4.3%	1.8%	5.1%
6M Excs Rtn	8.5%	6.5%	9.9%	1.2%	24.0%	-3.8%	7.5%
12M Excs Rtn	44.5%	28.5%	13.7%	21.6%	46.3%	-12.5%	25.1%
3Y Excs Rtn	161.5%	87.5%	-19.4%	20.8%	70.7%	-48.0%	45.7%

FDIC Bank Data

Bank Capital

FDIC Data As Of	3312025
CAPITAL
Equity Total Capital ($ Bil)	16
Tier 1 (Core) Capital ($ Bil)	17
ASSETS
Total Assets ($ Bil)	166
Adjusted Average Assets ($ Bil)	169
Risk Weighted Assets Adjusted ($ Bil)	96
LEVERAGE RATIOS
Tier 1 Capital / Total Assets Ratio	10.4%
Tier 1 Capital / Adjusted Avg Assets Ratio	10.2%
Tier 1 Capital / Risk Wtd Assets Ratio	18.0%

Bank Deposits

FDIC Data As Of	3312025
DEPOSITS
Total Deposits ($ Bil)	139
Uninsured Deposits ($ Bil)	89
Uninsured Deposits Ratio %	64.1%

Bank Assets

FDIC Data As Of	3312025
ASSETS
Cash Balance ($ Bil)	29
Securities ($ Bil)	44
Net Loans ($ Bil)	57
Trading Assets ($ Bil)	19
Bank Premises Assets ($ Bil)	1
Other Real Estate Owned ($ Bil)	0
Goodwill & Intangibles ($ Bil)	0
Other Assets ($ Bil)	5
Total Assets (Sum) ($ Bil)	156
Total Assets (Reported) ($ Bil)	166
Risk Weighted Assets ($ Bil)	96
SECURITIES DETAILS
US Govt Securities ($ Bil)	40
Equity Securities Not Held for Trading ($ Bil)	0
Total Debt Securities ($ Bil)	44
Mortgage-Backed Securities ($ Bil)	26
SECURITIES VALUATION
Securities Held to Maturity (Book Value) ($ Bil)	18
Securities Available for Sale (Fair Market) ($ Bil)	26

Bank Loans

[valid:true, table:

FDIC Data As Of	3312025
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

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/28/2025	2/20/2025	2/22/2024	2/22/2023	2/22/2022	2/24/2021	2/19/2020
Key Financials
Total Revenue	70,046	67,396	64,440	53,719	64,247	63,280	70,403
Net Income	17,692	23,979	23,533	15,559	13,917	5,229	7,383
EPS	4.75	6.25	5.75	3.60	3.10	0.95	1.50
Growth Rates
Total Revenue Growth	6.6%	4.6%	20.0%	-16.4%	1.5%	-10.1%	10.6%
Net Income Growth	-25.0%	1.9%	51.3%	11.8%	166.2%	-29.2%	-46.2%
Margins
Net Income Margin	25.3%	35.6%	36.5%	29.0%	21.7%	8.3%	10.5%
Cash & Debt
Total Cash	246,821	284,515	299,569	350,051	422,437	328,726	173,885
Total Debt	98,240	242,347	235,159	204,239	223,644	252,079	272,428
Net Debt / (Cash)	-148,581	-42,168	-64,410	-145,812	-198,793	-76,647	98,543
Cash Flows
Net Cash from Operations	-	65,305	39,111	19,355	104,312	182,220	29,743
Free Cash from Operations	-	61,419	35,416	14,946	100,747	178,710	26,111
Returns to Shareholders
Dividends	0	17,100	12,196	6,970	6,383	2,023	9,773
Share Repurchases	-0	15,322	10,429	4,642	5,543	579	1,000

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/28/2025	7/30/2025	4/29/2025	2/20/2025	10/29/2024	7/31/2024	4/30/2024	2/22/2024	10/30/2023	8/1/2023	5/2/2023	2/22/2023
Key Financials Quarterly
Total Revenue	17,900	17,657	17,740	16,749	16,926	16,701	17,020	15,034	15,851	20,030	16,530	15,037
Net Income	5,284	4,733	7,324	351	6,516	6,528	10,584	-28	6,053	6,763	10,745	4,502
EPS	1.40	1.30	1.95	0.10	1.70	1.75	2.70	0.00	1.45	1.70	2.60	1.10
Key Financials TTM
Total Revenue TTM	70,046	69,072	68,116	67,396	65,681	64,606	67,935	67,445	67,448	65,514	57,434	53,129
Net Income TTM	17,692	18,924	20,719	23,979	23,600	23,137	23,372	23,533	28,063	24,475	23,061	15,559
Growth Rates Quarterly
Total Revenue Growth	5.8%	5.7%	4.2%	11.4%	6.8%	-16.6%	3.0%	-0.0%	13.9%	67.6%	35.2%	-7.0%
Net Income Growth	-18.9%	-27.5%	-30.8%	1353.6%	7.6%	-3.5%	-1.5%	-100.6%	145.6%	26.4%	231.3%	133.3%
Margins Quarterly
Net Income Margin	29.5%	26.8%	41.3%	2.1%	38.5%	39.1%	62.2%	-0.2%	38.2%	33.8%	65.0%	29.9%
Cash & Debt
Total Cash	246,821	246,360	254,660	284,515	252,310	287,089	275,943	299,569	298,779	318,382	327,554	350,051
Total Debt	98,240	129,698	100,051	242,347	103,414	123,668	101,444	235,159	89,107	108,757	85,351	204,239
Net Debt / (Cash)	-148,581	-116,662	-154,609	-42,168	-148,896	-163,421	-174,499	-64,410	-209,672	-209,625	-242,203	-145,812
Cash Flows Quarterly
FCF from Operations	-	-	-	-	-	-	-	-	-	-	-	-
Cash Flows TTM
FCF from Operations TTM	-	-	-	-	-	-	-	-	-	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	51.4%	-	83.6%	-	61.6%	-	259.8%	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	43.2%	-	60.0%	-	56.2%	-	146.0%	-	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2024	2021	2020
Wealth and Personal Banking	26,848	20,474	21,252
Commercial Banking	22,396	14,114	16,094
Global Banking and Markets	15,771	18,651	20,314
Corporate Centre	-103	-1,469	-2,716
Total	64,912	51,770	54,944

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Global Banking and Markets	1,298,065	1,341,575	1,157,327	1,319,389	1,310,772
Wealth and Personal Banking	915,062	893,867	888,028	869,924	793,100
Commercial Banking	613,124	620,193	586,392	562,125	523,585
Corporate Centre	146,296	152,049	174,073	187,189	156,354
Currency translation	66,130	-58,398	152,119	45,537	-68,659
Total	3,038,677	2,949,286	2,957,939	2,984,164	2,715,152

Price Behavior

Price Behavior

Market Price	$71.27
Market Cap ($ Bil)	246.6
First Trading Date	07/16/1999
Distance from 52W High	-0.6%
	50 Days	200 Days
DMA Price	$68.08	$59.86
DMA Trend	up	up
Distance from DMA	4.7%	19.1%
	3M	1YR
Volatility	21.0%	24.6%
Downside Capture	57.59	56.07
Upside Capture	109.61	96.79
Correlation (SPY)	34.0%	57.3%

HSBC Betas & Captures as of 10/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.67	0.77	0.66	0.72	0.71	0.66
Up Beta	0.02	-0.17	0.14	0.41	0.54	0.58
Down Beta	0.70	0.74	0.60	0.55	0.90	0.73
Up Capture	59%	117%	107%	106%	90%	60%
Bmk +ve Days	14	27	37	74	145	425
Stock +ve Days	11	26	40	77	153	438
Down Capture	106%	93%	63%	87%	67%	78%
Bmk -ve Days	9	17	28	53	106	327
Stock -ve Days	12	18	24	49	97	307

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

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of HSBC With Other Asset Classes (Last 1Y)
	HSBC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	63.0%	15.3%	18.9%	45.7%	0.7%	-1.3%	49.7%
Annualized Volatility	24.5%	20.1%	19.6%	19.9%	16.1%	18.0%	37.2%
Sharpe Ratio	1.94	0.60	0.76	1.78	-0.14	-0.22	0.85
Correlation With Other Assets		53.8%	56.6%	10.9%	24.3%	49.5%	19.2%

ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of HSBC With Other Asset Classes (Last 5Y)
	HSBC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	35.6%	19.2%	17.1%	15.9%	13.8%	7.2%	49.2%
Annualized Volatility	26.4%	19.4%	17.1%	15.6%	18.9%	19.1%	49.3%
Sharpe Ratio	1.16	0.84	0.81	0.82	0.61	0.29	0.76
Correlation With Other Assets		58.6%	44.5%	6.2%	19.7%	33.6%	17.5%

Based On 10-Year Data

		Comparison of HSBC With Other Asset Classes (Last 10Y)
	HSBC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	12.6%	12.5%	14.3%	12.9%	5.1%	5.3%	77.5%
Annualized Volatility	25.3%	22.4%	18.0%	14.7%	17.7%	20.9%	56.2%
Sharpe Ratio	0.49	0.52	0.69	0.72	0.22	0.23	0.95
Correlation With Other Assets		62.8%	52.9%	-1.6%	26.2%	38.7%	12.7%

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	4,740,766
Short Interest: % Change Since 9302025	-7.0%
Average Daily Volume	1,637,456
Days-to-Cover Short Interest	2.90
Basic Shares Quantity	3,459,400,000
Short % of Basic Shares	0.1%

Returns Analyses

	Title
0	How Low Can HSBC Stock Really Go?
1	HSBC Stock Return Comparison

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10282025	6-K 9/30/2025
6302025	7302025	6-K 6/30/2025
3312025	4292025	6-K 3/31/2025
12312024	2202025	20-F 12/31/2024
9302024	10292024	6-K 9/30/2024
3312024	4302024	6-K 3/31/2024
12312023	2222024	Annual 12/31/2023
9302023	10302023	6-K 9/30/2023
6302023	8012023	6-K 6/30/2023
12312022	2222023	20-F 12/31/2022
6302022	8012022	6-K 6/30/2022
3312021	4272021	6-K 3/31/2021
12312020	2242021	20-F 12/31/2020
3312020	4282020	6-K 3/31/2020
12312019	2192020	20-F 12/31/2019
3312019	5032019	6-K 3/31/2019

Insider Activity

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Industry Resources

Financials Resources

Federal Reserve Economic Data

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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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HSBC (HSBC)

Market Price (11/8/2025): $71.28 | Market Cap: $246.6 BilSector: Financials | Industry: Diversified Banks

HSBC (HSBC)

Market Price (11/8/2025): $71.28Market Cap: $246.6 BilSector: FinancialsIndustry: Diversified Banks

Market Valuation & Key Metrics

HSBC Stock

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About HSBC (HSBC)

Interactive Breakdown

Better Bets than HSBC (HSBC)

Latest Trefis Analyses

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1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

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FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (11/8/2025): $71.28 | Market Cap: $246.6 Bil
Sector: Financials | Industry: Diversified Banks

Market Price (11/8/2025): $71.28
Market Cap: $246.6 Bil
Sector: Financials
Industry: Diversified Banks