HSBC financial statements
The full income statement, balance sheet, and cash-flow statement for HSBC Holdings plc. (HSBC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Operating income | 28.0B YoY-4.8% | 29.4B YoY-3.7% | 30.5B YoY+113.1% | 14.3B YoY-9.6% | 15.9B YoY+120.9% | |
| Pre-tax income | 29.9B YoY-7.4% | 32.3B YoY+6.5% | 30.3B YoY+77.9% | 17.1B YoY-9.8% | 18.9B YoY+115.4% | |
| Income tax | 6.78B YoY-7.3% | 7.31B YoY+26.3% | 5.79B YoY+615.6% | 809M YoY-80.8% | 4.21B YoY+57.3% | |
23.1B YoY-7.5% | 25.0B YoY+1.8% | 24.6B YoY+51.1% | 16.2B YoY+10.6% | 14.7B YoY+140.9% | ||
$1.20 YoY-3.2% | $1.24 YoY+8.8% | $1.14 YoY+58.3% | $0.72 YoY+16.1% | $0.62 YoY+226.3% | ||
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 433B YoY-0.5% | 435B YoY-11.4% | 491B YoY-5.9% | 522B YoY-9.1% | 574B YoY+22.6% | |
3.23T YoY+7.2% | 3.02T YoY-0.7% | 3.04T YoY+3.0% | 2.95T YoY-0.2% | 2.95T YoY-1.0% | ||
| Total liabilities | 3.03T YoY+7.2% | 2.82T YoY-0.7% | 2.85T YoY+3.0% | 2.76T YoY+0.2% | 2.76T YoY-0.8% | |
198B YoY+7.2% | 185B YoY-0.2% | 185B YoY+4.2% | 178B YoY-5.9% | 189B YoY-3.8% | ||
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash from operations | 29.8B YoY-54.4% | 65.3B YoY+67.0% | 39.1B YoY+102.1% | 19.4B YoY-81.4% | 104B YoY-42.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 4.10B YoY+13.7% | 3.60B YoY+80.4% | 2.00B | 0.00 YoY-100.0% | 2.00B YoY+33.3% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 11.6B YoY-24.5% | 15.3B YoY+46.3% | 10.5B YoY+96.8% | 5.33B YoY+19.0% | 4.48B | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.35T YoY+52.2% | 888B YoY+7.9% | 823B YoY+28.0% | 643B YoY+3.3% | 622B YoY+16.0% | |
| P/E | 58.4× YoY+64.5% | 35.5× YoY-29.9% | 50.6× YoY+15.7% | 43.8× YoY+3.3% | 42.3× YoY-51.8% | |
| P/B | 6.8× YoY+42.0% | 4.8× YoY+3.7% | 4.6× YoY+36.0% | 3.4× YoY+3.3% | 3.3× YoY+20.6% | |
1.7% YoY-39.2% | 2.8% YoY+42.6% | 2.0% YoY-13.6% | 2.3% YoY-3.2% | 2.4% YoY+107.7% | ||
0.84% YoY-49.4% | 1.7% YoY+26.8% | 1.3% YoY+50.9% | 0.87% YoY+18.7% | 0.73% | ||
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: HSBC's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all HSBC filings on SEC EDGAR → Not investment advice.