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Financials · HSBC

HSBC Holdings plc. (HSBC) financials

For fiscal 2025 (ended Dec 31, 2025), HSBC Holdings plc. reported $68.27B of revenue and $23.13B of net income.

Revenue, FY2025
$68.27B
Revenue growth, YoY
+3.7%
Net income, FY2025
$23.13B
Net income growth, YoY
-7.5%
Net margin
33.9%
Free cash flow, FY2025
$28.32B
EPS, diluted, FY2025
$1.20
EPS growth, YoY
-3.2%
Cash
$432.89B
P/E
12.92
P/S
4.38
Market cap
$298.91B
Annual revenue$68.27B
FY2016FY2025
Annual net income$23.13B
FY2016FY2025
Annual free cash flow$28.32B
FY2016FY2025

HSBC revenue and earnings growth

HSBC revenueFY2025$68.27B

FY YoY
+3.7%
5Y CAGR
+6.2%
10Y CAGR
+1.3%

HSBC revenue was $68.27B for fiscal 2025 (ended Dec 31, 2025), up 3.7% from fiscal 2024. Compound annual growth was +6.2% over 5 years and +1.3% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 11 fiscal years on file.

HSBC net incomeFY2025$23.13B

FY YoY
-7.5%
5Y CAGR
+34.6%
10Y CAGR
+5.5%

HSBC net income was $23.13B for fiscal 2025 (ended Dec 31, 2025), down 7.5% from fiscal 2024. Compound annual growth was +34.6% over 5 years and +5.5% over 10 years. It rose in 6 of the last 10 fiscal years.

HSBC EPSFY2025$1.20

FY YoY
-3.2%
5Y CAGR
+44.6%
10Y CAGR
+6.5%

HSBC diluted EPS was $1.20 for fiscal 2025 (ended Dec 31, 2025), down 3.2% from fiscal 2024. Compound annual growth was +44.6% over 5 years and +6.5% over 10 years.

HSBC free cash flowFY2025$28.32B

FY YoY
-55.7%
5Y CAGR
-31.0%

HSBC free cash flow was $28.32B for fiscal 2025 (ended Dec 31, 2025), down 55.7% from fiscal 2024. Compound annual growth was -31.0% over 5 years. It rose in 3 of the last 7 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$68.27B$65.85B$66.06B$50.62B$49.55B$50.43B$56.10B$53.78B$51.45B$47.97B
Selling, general and admin$11.96B$10.50B$10.38B$10.85B$11.59B$11.12B$13.83B$15.35B$15.71B$16.47B
Operating income$28.00B$29.40B$30.54B$14.34B$15.86B$7.18B$10.99B$17.35B$14.79B$4.76B
Interest expense$63.08B$75.90B$65.07B$22.45B$9.70B$14.18B$24.23B$19.12B$12.82B$12.60B
Pre-tax income$29.91B$32.31B$30.35B$17.06B$18.91B$8.78B$13.35B$19.89B$17.17B$7.11B
Income tax$6.78B$7.31B$5.79B$809.00M$4.21B$2.68B$4.64B$4.87B$5.29B$3.67B
Net income$23.13B$25.00B$24.56B$16.25B$14.69B$5.23B$7.38B$13.73B$10.80B$2.48B
EPS, basic$1.21$1.25$1.15$0.72$0.62$0.19$0.30$0.63$0.48$0.07
EPS, diluted$1.20$1.24$1.14$0.72$0.62$0.19$0.30$0.63$0.48$0.07
Diluted shares17.55B18.48B19.60B19.99B20.30B20.24B20.23B19.98B20.07B19.84B

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$432.89B$434.94B$490.93B$521.67B$574.03B$468.32B$293.74B$312.91B$323.72B$263.32B
Total assets$3.23T$3.02T$3.04T$2.95T$2.95T$2.98T$2.72T$2.56T$2.52T$2.37T
Total liabilities$3.03T$2.82T$2.85T$2.76T$2.76T$2.78T$2.52T$2.36T$2.32T$2.19T
Shareholders' equity$198.22B$184.97B$192.61B$185.20B$196.32B$205.00B$192.67B$194.25B$196.22B$182.58B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$29.77B$65.31B$39.11B$19.36B$104.31B$182.22B$29.74B$32.52B-$12.41B$68.96B
Capital expenditures$1.45B$1.34B$1.15B$1.28B$1.09B$1.45B$1.34B$1.20B$1.17B$1.15B
Free cash flow$28.32B$63.96B$37.97B$18.07B$103.23B$180.77B$28.40B$31.32B-$13.58B$67.81B
Investing cash flow-$37.07B-$76.56B-$62.91B-$27.40B$27.54B-$22.43B-$35.32B-$16.65B$65.56B-$15.06B
Financing cash flow-$21.96B-$26.46B-$17.56B-$6.29B-$10.79B-$4.64B-$14.84B-$16.78B-$10.45B-$8.92B
Dividends paid$13.48B$17.10B$12.20B$6.97B$6.38B$2.02B$9.77B$10.76B$9.01B$9.16B
Share repurchases$9.09B$11.35B$5.81B$2.29B-$0$1.00B$2.00B$3.00B$0
Stock-based compensation$621.00M$529.00M$482.00M$400.00M$467.00M$433.00M$478.00M$450.00M$500.00M$534.00M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY3.7%-0.3%30.5%2.2%-1.7%-10.1%4.3%4.5%7.3%-19.8%
Net income growth, YoY-7.5%1.8%51.1%10.6%181.0%-29.2%-46.2%27.1%335.6%-81.7%
EPS growth, YoY-3.2%8.8%58.3%16.1%226.3%-36.7%-52.4%31.3%585.7%-89.1%
Operating margin41.0%44.6%46.2%28.3%32.0%14.2%19.6%32.3%28.8%9.9%
Net margin33.9%38.0%37.2%32.1%29.7%10.4%13.2%25.5%21.0%5.2%
Free cash flow margin41.5%97.1%57.5%35.7%208.3%358.5%50.6%58.2%-26.4%141.4%
Return on equity11.7%13.5%12.8%8.8%7.5%2.6%3.8%7.1%5.5%1.4%
Return on assets0.7%0.8%0.8%0.6%0.5%0.2%0.3%0.5%0.4%0.1%

Source: XBRL data HSBC Holdings plc. files with the SEC, latest filing dated Feb 26, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

HSBC peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
HSBC$68.27B+3.7%$23.13B33.9%$298.91B
AX$1.55B+23.0%$507.67M32.7%$5.26B
EBC$1.19B+61.8%$381.02M32.1%$5.22B
TFSL$343.73M+10.5%$102.06M29.7%$4.61B
PFS$924.11M+8.6%$310.15M33.6%$3.16B
BKU$1.13B+5.4%$273.97M24.3%$3.14B
CFFN$229.25M+19.4%$82.83M36.1%$1.06B
HTB$218.02M+3.4%$66.49M30.5%$743.0M

HSBC FAQ

8 questions
  • What is HSBC revenue?
    HSBC Holdings plc. (HSBC) reported $68.27B of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 3.7% from the year before.
  • Is HSBC profitable?
    Yes. HSBC Holdings plc. earned $23.13B in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 33.9%.
  • How much cash and debt does HSBC have?
    HSBC Holdings plc. reported $432.89B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is HSBC revenue growing?
    HSBC Holdings plc.'s revenue changed +3.7% in fiscal 2025, to $68.27B. Its compound annual growth rate was +6.2% over 5 years and +1.3% over 10 years.
  • What is HSBC free cash flow?
    HSBC Holdings plc. generated $28.32B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of $29.77B less capital expenditures.
  • What is HSBC earnings per share?
    Diluted earnings per share were $1.20 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.
  • When did HSBC last report financial results?
    The latest statements here come from HSBC Holdings plc.'s 20-F filed on Feb 26, 2026, covering the period ended Dec 31, 2025.
  • Where does this HSBC financial data come from?
    Quantisnow builds these statements from the structured XBRL data HSBC Holdings plc. files with the SEC. It is provided for information only and is not investment advice.