HSBC (HSBC Holdings plc) Stock Financials & Earnings

Company Info & Key Metrics

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 a...

CEOGeorges Bahjat Elhedery

Country🇬🇧 United Kingdom

ExchangeNYSE

IPOJul 16, 1999

www.hsbc.com

Revenue$46.8B

YoY Growth+35.4%

QoQ Growth+39.8%

Net Income$4.9B

EPS$1.35

Free Cash Flow$9.4B

Gross Margin58.7%

Op. Margin14.5%

Net Margin10.6%

FCF Margin20.1%

Rev Multiple (TTM)2.0x

P/E Ratio (TTM)13.3x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$16.5B	$16.5B	$12.9B
Q2 23	$45.2B	$45.2B	$8.8B
Q3 23	$33.8B	$15.9B	$7.7B
Q4 23	$78.7B	$78.7B	$977M
Q1 24	$36.6B	$17.0B	$12.7B
Q2 24	$58.7B	$58.7B	$8.9B
Q3 24	$36.5B	$16.9B	$8.5B
Q4 24	$34.6B	$16.7B	$2.3B
Q1 25	$33.9B	$17.7B	$9.5B
Q2 25	$33.7B	$17.7B	$6.3B
Q3 25	$33.5B	$17.9B	$7.3B
Q4 25	$46.8B	$27.5B	$6.8B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	1.4x	5.8x
Q2 23	1.3x	6.3x
Q3 23	1.0x	5.1x
Q4 23	0.9x	6.6x
Q1 24	0.8x	6.3x
Q2 24	0.8x	6.9x
Q3 24	0.8x	7.0x
Q4 24	1.1x	7.4x
Q1 25	1.2x	9.9x
Q2 25	1.6x	11.4x
Q3 25	1.8x	13.9x
Q4 25	1.8x	12.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0
Q3 25	$0	$0
Q4 25	$10.8B	$9.4B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$1.5B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+35.2%	-54.9%
Q2 23	+110.7%	+121.6%
Q3 23	+142.9%	+144.1%
Q4 23	+80.7%	+102.7%
Q1 24	+121.6%	+558.1%
Q2 24	+30.1%	+36.9%
Q3 24	+8.1%	+7.6%
Q4 24	-56.1%	-58.4%
Q1 25	-7.6%	+1.6%
Q2 25	-42.6%	-45.0%
Q3 25	-8.4%	-6.7%
Q4 25	+35.4%	+23.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$228M	0.5%
Q3 23	$0	0.0%
Q4 23	$522M	0.7%
Q1 24	$0	0.0%
Q2 24	$274M	0.5%
Q3 24	$0	0.0%
Q4 24	$529M	1.5%
Q1 25	$0	0.0%
Q2 25	$315M	0.9%
Q3 25	$0	0.0%
Q4 25	-$315M	-0.7%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q3 23	—	—	$4.6B
Q4 23	$10.4B	$6.3B	—
Q2 24	$5.1B	$10.1B	—
Q4 24	$10.5B	$6.4B	—
Q2 25	$4.9B	$10.9B	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$327.6B	$0	$327.6B
Q2 23	$318.4B	$0	$318.4B
Q3 23	$298.8B	$0	$298.8B
Q4 23	$305.9B	$0	$305.9B
Q1 24	$275.9B	$0	$275.9B
Q2 24	$287.1B	$0	$287.1B
Q3 24	$252.3B	$0	$252.3B
Q4 24	$284.5B	$0	$284.5B
Q1 25	$254.7B	$0	$254.7B
Q2 25	$246.4B	$0	$246.4B
Q3 25	$246.8B	$0	$246.8B
Q4 25	$286.9B	$366.2B	$653.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	3.94B	-0.8%
Q2 23	3.99B	+1.1%
Q3 23	3.88B	-2.7%
Q4 23	3.85B	-0.7%
Q1 24	3.77B	-2.1%
Q2 24	3.74B	-0.8%
Q3 24	3.63B	-3.0%
Q4 24	3.59B	-1.1%
Q1 25	3.55B	-1.0%
Q2 25	3.54B	-0.5%
Q3 25	3.46B	-2.1%
Q4 25	3.52B	+1.8%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$341K	266K
FY 15	$330K	264K
FY 16	$317K	235K
FY 17	$334K	229K
FY 18	$352K	235K
FY 19	$383K	247K
FY 20	$323K	240K
FY 21	$319K	232K
FY 22	$327K	233K
FY 23	$569K	228K
FY 24	$649K	221K
FY 25	$3M	47K