HSBC HLDGS PLC .50 (HBCYF) Financials

HBCYF

FY2025 annual

Revenue $68.3B +3.7% YoY

Net Income $23.1B -7.5% YoY

Free Cash Flow $28.3B -55.7% YoY

Operating Cash Flow $29.8B -54.4% YoY

Market Cap $309.2B as of Oct 21, 2026

Price / Sales 4.5x on $68.3B revenue, FY2025

Price / Earnings 13.4x on $23.1B net income, FY2025

Price / Book 1.5x on $205.7B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Feb 26, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Feb 26, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HBCYF SEC filings page.

HSBC HLDGS PLC .50 (HBCYF) reported $68.3B in revenue for fiscal year 2025, up 3.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI HBCYF FY2025 2026-10-04

HSBC earns substantial profits on a heavily leveraged balance sheet, but FY2025 shows weaker returns and more volatile cash generation.

Operating cash flow and free cash flow both dropped sharply in FY2025, while net income fell only 7.5%, revealing that cash generation is more volatile than reported earnings. Operating cash flow was $29.8B versus net income of $23.1B, so cash still exceeded accounting profit even as its year-to-year stability weakened.

Returns peaked in FY2024 at ROE of 13.0% and ROA of 0.8%, then both declined the following year despite a larger asset base. That pattern points to lower earnings efficiency rather than merely slower growth.

The balance sheet remains structurally leveraged: debt-to-equity was 14.7x in FY2025, close to FY2024's 14.7x, while equity rose to $205.7B. Capital spending was only $1.4B against operating cash flow of $29.8B, so the year's cash movement was not driven by heavy physical reinvestment.

Financial Health Signals

Financial health score not available

HSBC HLDGS PLC .50 does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/6

HSBC HLDGS PLC .50 passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.29x

For every $1 of reported earnings, HSBC HLDGS PLC .50 generates $1.29 in operating cash flow ($29.8B OCF vs $23.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$432.9B

YoY-0.5%

QoQ+0.9%

HSBC HLDGS PLC .50 held $432.9B in cash as of Q4 2025; long-term debt is not reported for that period.

Shares Outstanding

17.18B

YoY-4.3%

HSBC HLDGS PLC .50 had 17.18B shares outstanding in Q4 2025. This represents a decrease of 4.3% from the same quarter a year earlier.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

HBCYF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HBCYF quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$68.3B+3.7%	$65.9B-0.3%	$66.1B+30.5%	$50.6B+2.2%	$49.6B-1.7%	$50.4B-10.1%	$56.1B+4.3%	$53.8B+4.5%	$51.4B+7.3%	$48.0B-19.8%	$59.8B
Interest Expense	$63.1B-16.9%	$75.9B+16.6%	$65.1B+189.9%	$22.4B+131.5%	$9.7B-31.6%	$14.2B-41.5%	$24.2B+26.7%	$19.1B+49.2%	$12.8B+1.7%	$12.6B-14.0%	$14.7B
Income Tax	$6.8B-7.3%	$7.3B+26.3%	$5.8B+615.6%	$809.0M-80.8%	$4.2B+57.3%	$2.7B-42.3%	$4.6B-4.6%	$4.9B-8.0%	$5.3B+44.2%	$3.7B-2.8%	$3.8B
Net Income	$23.1B-7.5%	$25.0B+1.8%	$24.6B+51.1%	$16.2B+10.6%	$14.7B+140.9%	$6.1B-30.0%	$8.7B-42.0%	$15.0B+26.5%	$11.9B+244.7%	$3.4B-77.2%	$15.1B
Diluted Shares (Avg)	17.55B-5.1%	18.48B-5.7%	19.60B-1.9%	19.99B-1.6%	20.30B+0.3%	20.24B0.0%	20.23B+1.3%	19.98B-0.4%	20.07B+1.1%	19.84B+1.7%	19.52B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

HBCYF Balance Sheet

HBCYF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$3.2T+7.2%	$3.0T-0.7%	$3.0T+3.0%	$2.9T-0.2%	$3.0T-1.0%	$3.0T+9.9%	$2.7T+6.1%	$2.6T+1.4%	$2.5T+6.2%	$2.4T-1.4%	$2.4T
Cash & Equivalents	$432.9B-0.5%	$434.9B-11.4%	$490.9B-5.9%	$521.7B-9.1%	$574.0B+22.6%	$468.3B+59.4%	$293.7B-6.1%	$312.9B-3.3%	$323.7B+22.9%	$263.3B+8.0%	$243.9B
Goodwill	$13.1B+5.8%	$12.4B-0.8%	$12.5B+9.4%	$11.4B+2.2%	$11.2B-45.4%	$20.4B+1.4%	$20.2B-17.2%	$24.4B+3.9%	$23.5B+9.9%	$21.3B	N/A
Total Liabilities	$3.0T+7.2%	$2.8T-0.7%	$2.8T+3.0%	$2.8T+0.2%	$2.8T-0.8%	$2.8T+10.2%	$2.5T+6.7%	$2.4T+1.7%	$2.3T+6.0%	$2.2T-0.9%	$2.2T
Total Equity	$205.7B+7.0%	$192.3B-0.2%	$192.6B+4.0%	$185.2B-5.7%	$196.3B-4.2%	$205.0B+6.4%	$192.7B-0.8%	$194.2B-1.0%	$196.2B+7.5%	$182.6B-7.6%	$197.5B
Retained Earnings	$169.6B+11.3%	$152.4B+0.2%	$152.1B+6.8%	$142.4B+5.3%	$135.2B-3.8%	$140.6B+2.8%	$136.7B-1.1%	$138.2B-1.3%	$140.0B+2.3%	$136.8B	N/A

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Total Assets	$3.2T+7.2%	$3.2T+8.0%	$3.0T-0.7%	$3.0T-2.2%	$3.0T+3.0%	$3.0T+2.4%	$2.9T-0.2%	$3.0T-0.2%
Cash & Equivalents	$432.9B-0.5%	$428.9B-4.5%	$434.9B-11.4%	$449.0B-13.2%	$490.9B-5.9%	$517.5B-5.4%	$521.7B-9.1%	$547.3B-0.8%
Goodwill	$13.1B+5.8%	$13.0B+7.1%	$12.4B-0.8%	$12.2B+2.0%	$12.5B+9.4%	$11.9B-44.9%	$11.4B+2.2%	$21.6B+4.5%
Total Liabilities	$3.0T+7.2%	$3.0T+8.3%	$2.8T-0.7%	$2.8T-2.3%	$2.8T+3.0%	$2.8T+2.2%	$2.8T+0.2%	$2.8T+0.7%
Total Equity	$205.7B+7.0%	$199.9B+5.0%	$192.3B-0.2%	$190.4B-0.6%	$192.6B+4.0%	$191.7B+3.0%	$185.2B-5.7%	$186.1B-10.0%
Retained Earnings	$169.6B+11.3%	$149.7B-3.6%	$152.4B+0.2%	$155.3B+3.6%	$152.1B+6.8%	$149.9B-0.3%	$142.4B+5.3%	$150.4B+4.2%

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

HBCYF Cash Flow Statement

HBCYF quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$29.8B-54.4%	$65.3B+67.0%	$39.1B+102.1%	$19.4B-81.4%	$104.3B-42.8%	$182.2B+512.6%	$29.7B-8.5%	$32.5B+361.9%	-$12.4B-118.0%	$69.0B+6246.1%	-$1.1B
Depreciation & Amortization	$4.9B+20.5%	$4.1B+17.7%	$3.5B-10.0%	$3.9B-10.2%	$4.3B-18.2%	$5.2B-50.2%	$10.5B+444.2%	$1.9B+3.8%	$1.9B-64.3%	$5.2B+139.0%	$2.2B
Capital Expenditures	$1.4B+7.7%	$1.3B+17.4%	$1.1B-10.8%	$1.3B+18.2%	$1.1B-24.9%	$1.4B+7.7%	$1.3B+12.3%	$1.2B+2.5%	$1.2B+1.4%	$1.2B-7.8%	$1.2B
Free Cash Flow	$28.3B-55.7%	$64.0B+68.5%	$38.0B+110.1%	$18.1B-82.5%	$103.2B-42.9%	$180.8B+536.5%	$28.4B-9.3%	$31.3B+330.6%	-$13.6B-120.0%	$67.8B+2959.9%	-$2.4B
Investing Cash Flow	-$37.1B+51.6%	-$76.6B-21.7%	-$62.9B-129.6%	-$27.4B-199.5%	$27.5B+222.8%	-$22.4B+36.5%	-$35.3B-112.2%	-$16.6B-125.4%	$65.6B+535.3%	-$15.1B+61.3%	-$38.9B
Financing Cash Flow	-$22.0B+17.0%	-$26.5B-50.7%	-$17.6B-179.3%	-$6.3B+41.8%	-$10.8B-132.5%	-$4.6B+68.7%	-$14.8B+11.6%	-$16.8B-60.6%	-$10.4B-17.2%	-$8.9B-149.3%	-$3.6B
Dividends Paid	$13.5B-21.2%	$17.1B+40.2%	$12.2B+75.0%	$7.0B+9.2%	$6.4B+215.5%	$2.0B-79.3%	$9.8B-9.2%	$10.8B+19.5%	$9.0B-1.7%	$9.2B+11.7%	$8.2B
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	-$2.5B	$0

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

HBCYF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HBCYF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	33.9%-4.1pp	38.0%+0.8pp	37.2%+5.1pp	32.1%+2.5pp	29.6%+17.6pp	12.1%-3.4pp	15.5%-12.4pp	27.9%+4.8pp	23.1%+15.9pp	7.2%-18.1pp	25.2%
Return on Equity	11.3%-1.8pp	13.0%+0.3pp	12.8%+4.0pp	8.8%+1.3pp	7.5%+4.5pp	3.0%-1.5pp	4.5%-3.2pp	7.7%+1.7pp	6.0%+4.2pp	1.9%-5.8pp	7.6%
Return on Assets	0.7%-0.1pp	0.8%0.0pp	0.8%+0.3pp	0.5%0.0pp	0.5%+0.3pp	0.2%-0.1pp	0.3%-0.3pp	0.6%+0.1pp	0.5%+0.3pp	0.1%-0.5pp	0.6%
Debt-to-Equity	14.720.0x	14.69-0.1x	14.78-0.1x	14.93+0.9x	14.05+0.5x	13.56+0.5x	13.09+0.9x	12.17+0.3x	11.84-0.2x	12.01+0.8x	11.20
Asset Turnover	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.02
FCF Margin	41.5%-55.6pp	97.1%+39.7pp	57.5%+21.8pp	35.7%	208.3%	358.5%	50.6%-7.6pp	58.2%+84.6pp	-26.4%	141.4%	-4.0%

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q
Debt-to-Equity	14.720.0x	15.08+0.5x	14.69-0.1x	14.62-0.2x	14.78-0.1x	14.87-0.1x	14.93+0.9x	14.98+1.6x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Current Ratio, Asset Turnover, FCF Margin.

Where HSBC HLDGS PLC .50 Ranks

Frequently Asked Questions

What is HSBC HLDGS PLC .50's annual revenue?

HSBC HLDGS PLC .50 (HBCYF) reported $68.3B in total revenue for fiscal year 2025. This represents a 3.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is HSBC HLDGS PLC .50's revenue growing?

HSBC HLDGS PLC .50 (HBCYF) revenue grew by 3.7% year-over-year, from $65.9B to $68.3B in fiscal year 2025.

Is HSBC HLDGS PLC .50 profitable?

Yes, HSBC HLDGS PLC .50 (HBCYF) reported a net income of $23.1B in fiscal year 2025, with a net profit margin of 33.9%.

What is HSBC HLDGS PLC .50's net profit margin?

HSBC HLDGS PLC .50 (HBCYF) had a net profit margin of 33.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is HSBC HLDGS PLC .50's return on equity (ROE)?

HSBC HLDGS PLC .50 (HBCYF) has a return on equity of 11.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is HSBC HLDGS PLC .50's free cash flow?

HSBC HLDGS PLC .50 (HBCYF) generated $28.3B in free cash flow during fiscal year 2025. This represents a -55.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is HSBC HLDGS PLC .50's operating cash flow?

HSBC HLDGS PLC .50 (HBCYF) generated $29.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are HSBC HLDGS PLC .50's total assets?

HSBC HLDGS PLC .50 (HBCYF) had $3.2T in total assets as of fiscal year 2025, including both current and long-term assets.

What are HSBC HLDGS PLC .50's capital expenditures?

HSBC HLDGS PLC .50 (HBCYF) invested $1.4B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does HSBC HLDGS PLC .50 have outstanding?

HSBC HLDGS PLC .50 (HBCYF) had 17.18B shares outstanding as of fiscal year 2025.

What is HSBC HLDGS PLC .50's debt-to-equity ratio?

HSBC HLDGS PLC .50 (HBCYF) had a debt-to-equity ratio of 14.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is HSBC HLDGS PLC .50's return on assets (ROA)?

HSBC HLDGS PLC .50 (HBCYF) had a return on assets of 0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is HSBC HLDGS PLC .50's P/E ratio?

HSBC HLDGS PLC .50 (HBCYF) trades at 13.4x earnings, its market capitalization divided by net income of $23.1B net income, FY2025. The market capitalization is $309.2B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is HSBC HLDGS PLC .50's price-to-sales ratio?

HSBC HLDGS PLC .50 (HBCYF) trades at 4.5x sales, its market capitalization divided by revenue of $68.3B revenue, FY2025. The market capitalization is $309.2B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is HSBC HLDGS PLC .50's Piotroski F-Score?

HSBC HLDGS PLC .50 (HBCYF) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are HSBC HLDGS PLC .50's earnings high quality?

HSBC HLDGS PLC .50 (HBCYF) has an earnings quality ratio of 1.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.